Litigation lawyer: Difference between revisions
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One of the sainted [[risk controller]]s of a financial services firm. | One of the sainted [[risk controller]]s of a financial services firm. an inhabitant of the [[litigation department]]. Litigators deal with ongoing customer complaints and, where clients have not come up to expectation, prosecute claims on the firm’s behalf. The {{t|litigation}} team would also claim have an advisory function, and encourage their colleagues to consult them ahead of time to avoid future angst. This is a theoretical but not actual function, because no-one in their right mind would ask a litigation lawyer to bless any course of action more contentious than sitting cross-legged in a padded cubicle having first signed a lengthy [[disclaimer]]. | ||
Litigation lawyers are short the same option as is any [[risk controller]]: There is no upside from signing anything off that has not been fully diffused in a [[circle of escalation]]. | Litigation lawyers are short the same option as is any [[risk controller]]: There is no upside from signing anything off that has not been fully diffused in a [[circle of escalation]]. | ||
Revision as of 11:31, 10 January 2018
One of the sainted risk controllers of a financial services firm. an inhabitant of the litigation department. Litigators deal with ongoing customer complaints and, where clients have not come up to expectation, prosecute claims on the firm’s behalf. The litigation team would also claim have an advisory function, and encourage their colleagues to consult them ahead of time to avoid future angst. This is a theoretical but not actual function, because no-one in their right mind would ask a litigation lawyer to bless any course of action more contentious than sitting cross-legged in a padded cubicle having first signed a lengthy disclaimer.
Litigation lawyers are short the same option as is any risk controller: There is no upside from signing anything off that has not been fully diffused in a circle of escalation.
Thus, an in-house litigation team is basically the complaints division of the firm. Be wary when these people wield inordinate influence. In recent times, like its equivalent in the Sirius Cybernetics Corporation, litigation teams have gone from half a junior lawyer, on flexi-time, between spells of maternity leave, to fully weaponised Death Stars of fusty, naturally censorious solicitors with no appetite to make any call or take any risk, however remote.
And that’s assuming litigation lawyers really are glorified customer complaint reps. The alternative is worse.
See also
Dramatis personae: CEO | CFO | Client | Employees: Divers · Excuse pre-loaders · Survivors · Contractors · The Muppet Show | Middle management: COO · Consultant · MBA | Controllers: Financial reporting | Risk | Credit | Operations | IT | Legal: GC · Inhouse counsel · Docs unit · Litigator · Tax lawyer · US attorney Lawyer | Front office: Trading | Structuring | Sales |