
If you're exploring a new direction in your legal career, transitioning into the Risk and Compliance space could be a great move. Perhaps you've recently completed your law degree but aren't keen on following the traditional qualification path; if this is the case, then compliance might offer the ideal alternative for you.
We're increasingly hearing from candidates in similar positions, some are already qualified lawyers seeking a change, while others are recent graduates looking to break into the compliance field.
Whatever your motivation, if you're thinking about moving into Risk and Compliance, it's essential to understand the key skills law firms value when evaluating potential candidates.
Attention to detail
In the world of compliance, attention to detail is a must. Professionals in this space are expected to stay constantly updated on the latest guidance and regulations from the Solicitors Regulation Authority (SRA), and more importantly, interpret and apply them accurately in practice. Spotting potential risks, identifying compliance gaps, and ensuring nothing slips through the cracks all depend on a sharp, detail-oriented mindset. It’s this vigilance that helps protect firms from regulatory breaches and builds a strong foundation of trust and integrity.
Analytical skills
In today’s ever-evolving legal landscape, strong analytical skills have become a cornerstone of effective Risk and Compliance work, especially within law firms. These skills enable professionals to identify, assess, and mitigate potential risks before they escalate into serious issues. However, analytical thinking goes beyond simply spotting red flags.
With regulations from the SRA frequently changing, it’s important for compliance professionals to have a thorough understanding of the rules, rather than simply following them. Compliance professionals must be able to interpret complex legal updates, evaluate their implications for the firm, and recommend strategic changes to internal policies and procedures. This proactive approach ensures the firm remains aligned with current SRA standards and avoids costly missteps.
Ultimately, the ability to think critically and act decisively is what keeps a law firm both compliant and competitive in a high-stakes environment.
Ethical integrity
Ethical integrity is the cornerstone of every decision in Risk and Compliance roles. At its core, it means doing what’s right and fostering trust throughout the law firm. Senior leadership, regulators, auditors, and employees alike depend on the objectivity and honesty of compliance professionals.
Those in Risk and Compliance positions play a vital role in shaping the firm’s culture. By consistently demonstrating ethical integrity, they send a clear and powerful message that accountability is non-negotiable. This commitment sets the standard for ethical behaviour across all levels of the law firm and empowers employees to raise concerns whenever something feels amiss.
Interpersonal skills
When it comes to compliance, working well with people across the whole organisation is crucial. Building strong relationships with colleagues and stakeholders at every level is key, which means having great interpersonal skills is essential. As a trusted advisor, you’ll need to explain the firm’s policies and procedures in a way that’s clear and easy to understand for different teams. You’ll also need to have empathy for others in difficult situations, and be able to ask questions and offer proactive solutions.
Quick-thinking and time management
Whether you're conducting conflict checks for a prospective client, updating an AML policy, or advising a partner on the implications of a specific regulation, compliance professionals are often given little notice when urgent tasks arise. In such a fast-paced environment, effective time management and the ability to think on your feet are essential. Priorities can shift in an instant, and being able to respond swiftly while maintaining control ensures challenges are handled professionally and potential risks are kept to a minimum.