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Risk Management Accreditation

Course Description

Overview

  • 1 month
  • Intermediate
This new accreditation will address practical Operational Risk Management. To be eligible for accreditation, candidates will complete the mandatory training currently comprising four online modules and submit assessment evidence based around those modules. Accreditation is for a period of 1 year, with annual re-accreditation, conditional upon accredited members being able to demonstrate that they continue to meet the ongoing accreditation requirements. It is envisaged that additional modules will be added in due course.

Learning outcomes

In this module we will be looking at the following areas:

  • What operational risk management means in the context of law practices
  • Definitions of core policies, plans and procedures
  • How policies, plans and procedures are developed, monitored and reviewed
  • Why, when and how to do a gap analysis
  • How risk can be effectively identified, categorised and managed
  • How to review and record risk responses in order to create an audit trail of effective risk management
  • The function and contents of a risk register and a compliance plan

What this will cover

The accreditation is aimed both at experienced law firm owners, managers and supervisors, as well as those new to risk management, like fee earners now looking to develop their leadership and management skills.

The accreditation is open to all practice managers, risk managers and those looking to enter a career in risk management, as well as solicitors. Taking many of the Law Society’s Lexcel practice management principles, this accreditation will also be of interest to all Lexcel assessors and consultants and to Lexcel contacts within Lexcel-accredited law firms.

Module 1: Introduction to Operational Risk Management

E-learning

This Introduction to Operational Risk Management e-learning module looks at key risk management obligations, techniques and how they are applied to legal practices. 

Exam

Put your Operational Risk Management knowledge to use and gain certification by answering 10 multiple choice questions. The pass mark is 70%. Good luck!

Module 2: File Reviews

E-learning

This e-learning module looks at the importance of file reviews in operational risk management; their benefits, characteristics and limiting factors, and methodologies for effective file reviews.

Exam

Put your File Reviews knowledge to use and gain certification by answering 10 multiple choice questions. The pass mark is 70%. Good luck!

Module 3: Supervision

E-learning

This e-learning module looks at how supervision plays an essential role in risk control, the regulatory requirements for firms and solicitors, and the significant benefits for the practice.

Exam

Put your Supervision knowledge to use and gain certification by answering 10 multiple choice questions. The pass mark is 70%. Good luck!

Module 4: Matter Management

E-learning

This e-learning module looks at the importance of consistent, thorough procedures for handling client matters and how that helps control risk and meet regulatory requirements.

Exam

Put your Matter Management knowledge to use and gain certification by answering 10 multiple choice questions. The pass mark is 70%. Good luck!

Written assessment

Written Assessment

You must complete an assignment by choosing a scenario below and submitting the documents for its case study. Use the Context to frame your selected assignment. Once submitted an expert Assessor will evaluate your assignment.

Context