From contract manager, lawyer or compliance officer to risk manager in four steps
What every business can take away from JP Morgan's 3rd quarter financial results
JP Morgan Chase announced a third quarter loss of $380 million dollars, attributable to $9.15 billion in legal expenses (yes, that's billion with a 'B'). Those losses stem, in part, from contracts and business practices at core of its mortgage business.
How to establish a legal risk tolerance policy
How to Define Legal Risk
An introduction to the IC2 method
Contracts are private regulation of behavior. Two parties agree to a set of obligations for the term of the contract (and sometimes beyond). Contracts are replete with obligations, direct and conditional, that apply to one or both of the parties to the contract. The number and complexity of obligations can challenge the tracking skills of lawyers, contract managers and compliance staff.