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Linklaters

Risk Advisory

 

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Linklaters’ Global Risk Advisory practice helps clients navigate the increasingly complex and uncertain regulatory landscape with our proactive and holistic approach to governance, risk, and compliance.

We offer comprehensive end-to-end support to identify, manage, and mitigate regulatory risks, drawing on our multi-disciplinary team which combines legal, compliance, controls, and operational expertise. This enables us to provide the exceptional quality of advice and client experience for which organisations look to Linklaters.

With our Risk Advisory practice working in close collaboration with our sector and legal teams, we leverage our wide-ranging expertise to help our clients understand not only what the law requires but also how to implement those legal requirements into business operations with tailored, proportionate, and risk-based policies, procedures, and controls.

We provide rigorous legal analysis and pragmatic solutions that empower organisations to reduce regulatory and compliance risks and failures, which often arise from the siloed nature of external legal advice and implementation support. Our unique approach delivers regulatory compliance with operational effectiveness, protected by legal privilege as appropriate.

Our services

Our solutions play into four key areas of risk - all of which are interconnected. These risks also help drive opportunities.

Challenges

Complex regulations and unprecedented regulatory disharmony significantly increase the challenge of aligning regulatory compliance across jurisdictions. A proactive and coordinated cross-border approach to managing legal and regulatory risk is therefore critical. Failure to put in place and maintain adequate compliance and risk management frameworks can result in significant corporate and personal liability, in particular for directors or governing bodies.

The scale and complexity of financial crime (including money laundering / terrorist financing, bribery and corruption, fraud, sanctions breaches, tax evasion and market abuse) continues to increase. Effectively managing financial crime risk remains a key priority area for all sectors.

Risk Advisory solutions

We collaborate with other Linklaters practices, in particular the Financial Regulation Group, Corporate and Litigation, Arbitration and Investigations teams to help our clients:

  • Implement and enhance robust governance, risk and compliance management frameworks with clear tone from the top, accountability, and oversight.
  • Evaluate, manage and mitigate multiple existing and emerging risks in relation to financial regulatory compliance and financial crime, and identify dependencies across business teams and jurisdictions e.g. definition of materiality.
  • Differentiate between jurisdictional and global requirements and implement regulatory changes into operational controls consistently and proportionately.

Challenges

Digital transformation involves multiple areas of regulation and significant change in business operations, giving rise to multiple risks as well as opportunities.

AI regulation is evolving rapidly across many jurisdictions, impacting a wide range of compliance areas including supply chain, internal functions and customer facing activities, with data protection and IP being two of the most important in many jurisdictions.

The UK Operational Resilience Framework and EU DORA requirements place an increasing burden on the financial sector’s operational risk controls. In addition, non-financial services organisations must comply with the national regulations of each country in which they operate as part of their ongoing digital transformation. With the increasing reliance on digital technologies, cybersecurity becomes an even more critical concern. Data breaches, hacking, and other cyber threats can lead to significant losses, legal liabilities, and erosion of trust among customers and stakeholders.

Risk Advisory solutions

We collaborate with other Linklaters practices, in particular the Fintech and Data and Cyber teams to help our clients:

  • Establish and maintain robust governance, risk and compliance management frameworks.
  • Evaluate and manage multiple existing and emerging regulatory risks in relation to operational resilience, data and cyber security, and the use of AI on a global, supranational, and national level.
  • Design and implement risk-based controls to meet regulatory requirements and mitigate risks.
  • Test controls to identify gaps in areas which require enhancement and uplift to meet regulatory requirements.

Challenges

Effective management of critical legal and compliance risks is essential given the growing scrutiny on energy transition, and rapidly changing, globally divergent ESG obligations. We can help organisations assess the efficacy and quality of ESG-related controls and develop compliance frameworks to meet their reporting, due diligence and regulatory demands.

Risk Advisory solutions

We collaborate with other Linklaters practices, in particular the Energy & Infrastructure and Environment, Social and Governance teams to help our clients:

  • Evaluate, manage and mitigate their existing and emerging risks in relation to ESG, including supply chain management, sustainable and ethical sourcing, and other human rights.
  • Develop and enhance ESG governance, compliance and controls frameworks, policies and processes.
  • Test the efficacy and quality of their ESG controls to assess whether they are fulfilling their regulatory obligations e.g. in relation to greenwashing, transition to net zero, product marketing, reporting requirements, EU CSDR, DEI, Human Rights and Modern Slavery.
  • Measure and provide meaningful data / MI to give assurance to Boards that goals and obligations are being met.

Challenges

The current global geopolitical environment is one of uncertainty, flux, and heightened risk. Wide-ranging tariffs, sanctions and countersanctions are disrupting supply chains on an unprecedented scale, while political developments and international conflicts are compelling companies to reassess investment decisions and business strategies.

All these activities can impact a company’s existing processes and planning for managing procurement, logistics, commodity physical and financial transactions, as well as their current and future infrastructure and production supply investment decisions.

These disruptions bring a host of legal, regulatory and compliance challenges, as well opportunities.

Risk Advisory solutions

We collaborate with other Linklaters practices, in particular the Sanctions, Energy & Infrastructure and Environment, Social and Governance teams to help clients as follows:

  • Evaluate existing and emerging legal, regulatory and compliance risks related to geopolitical developments. Working collaboratively, we establish the legal and regulatory framework that supports informed strategic business decisions.
  • Scrutinise in a systematic way contractual relationships with the clients’ business partners for the strengthening of the business partners’ reporting obligations, for audit rights and for exit scenarios.
  • Prepare for and respond to unexpected geopolitical crises and events, such as political conflicts affecting their countries of operation. Our scenario planning approach addresses legal, regulatory and compliance risks, with a focus on operational feasibility and commercial viability of proposed solutions.
  • Understand and comply with regulatory obligations as part of their current and prospective operations. This often includes advice around setting up in new jurisdictions or creating new business structures – for example, to navigate sanctions and countersanctions or tariff schemes.
Financial crime and regulations, antitrust and export controls
Digital transformation and operational resilience
Energy transition and ESG
Geopolitics
Our Risk advisory solutions

Risk advisory solutions

Risk Advisory supports clients at any stage of their organisation’s lifecycle. Whether clients are operating in a new jurisdiction, handling post-transaction integration, responding to regulatory updates, addressing compliance failures after a public investigation, or as part of business-as-usual, we help identify and assess legal and compliance risks, and implement effective compliance management systems and controls.

Click on the circles to the left to learn more about how we can support you.

Risk assessments

We design and conduct governance, risk and compliance (GRC) risk assessments with user-friendly formats and clear, logical methodologies and reporting structures. We develop meaningful management information. GRC risk assessments may be business-wide or thematic, e.g. anti-money laundering, bribery & corruption, fraud, sanctions and antitrust.

Governance, risk and compliance (GRC) strategies

We help clients develop key risk and compliance management principles by defining risk tolerance, clarifying legal objectives, and setting risk-based GRC priorities. We assess the advantages and disadvantages of an integrated GRC approach and help implement a suitable three lines of defence model for structuring GRC responsibilities. We also support with benchmarking against best practice and the development of meaningful management information.

Governance, risk and compliance (GRC) frameworks and controls: design and implementation

We help clients design and implement customised, legally sound compliance programmes, including policy and procedures development, training, risk management processes, and practical tools. We also advise on Know Your Customer (KYC), business partner approvals, whistleblower procedures, and frameworks for compliance with regulations such as EU CRD6, EU DORA, EU AI Act, EU CSDDD and the US AML FinCEN Rule.

Effectiveness assessment & controls testing

We assess the design and operational effectiveness of risk and compliance management and controls frameworks, e.g. via gap analyses and current state assessments. We also provide practicable recommendations for uplifts to controls, e.g. onboarding, ESG and supply chain related controls. We are very experienced in leveraging clients’ existing resources to help them optimise their controls frameworks in a cost-effective way.

Compliance monitoring, QA and testing

We can support in the development and enhancement of compliance monitoring frameworks and internal audit processes, including compliance plans, testing templates and reporting mechanisms and to enable clients to fulfil their second and third line of defence obligations.

Transaction due diligence and post-deal integration

We enhance the legal work undertaken on deals by offering due diligence and post-transaction controls reviews, including assessment of the effectiveness of risk management and controls frameworks. We can also support in the implementation of controls post-deal including for Joint Ventures.

Redress and remediation

Where an issue has been identified in an organisation, we carry out look-back analyses and wider redress exercises. We also develop remediation plans and execute remediation projects, e.g. for KYC deficiencies or review of supplier and other third-party contracts, or areas with a risk of regulatory censure. Close collaboration with lawyers ensures redress and remediation is embedded within a legal framework.

Third party risk management

Against the backdrop of an increase in geopolitical risks, tariff and other supply chain issues, we provide vendor and supply chain due diligence and reviews of specific aspects of the supply chain, as well as controls design and testing. We can also assess joint venture risks, e.g. a breach or inconsistency with a Joint Venture partner’s ABC or sanctions policies.

Contentious investigations

We support our investigations team on compliance and controls-related reviews / remediation in relation to potential regulatory breaches, including assessing and defining data related to the issue, developing a methodology and performing data analysis in line with the agreed legal parameters.

Risk advisory solutions

Risk Advisory supports clients at any stage of their organisation’s lifecycle. Whether clients are operating in a new jurisdiction, handling post-transaction integration, responding to regulatory updates, addressing compliance failures after a public investigation, or as part of business-as-usual, we help identify and assess legal and compliance risks, and implement effective compliance management systems and controls.

Click on the circles to the left to learn more about how we can support you.

Risk assessments

Risk assessments

We design and conduct governance, risk and compliance (GRC) risk assessments with user-friendly formats and clear, logical methodologies and reporting structures. We develop meaningful management information. GRC risk assessments may be business-wide or thematic, e.g. anti-money laundering, bribery & corruption, fraud, sanctions and antitrust.

Governance, Risk and Compliance (GRC) strategies

Governance, risk and compliance (GRC) strategies

We help clients develop key risk and compliance management principles by defining risk tolerance, clarifying legal objectives, and setting risk-based GRC priorities. We assess the advantages and disadvantages of an integrated GRC approach and help implement a suitable three lines of defence model for structuring GRC responsibilities. We also support with benchmarking against best practice and the development of meaningful management information.

Governance, risk and Compliance (GRC) frameworks and controls: design & implementation

Governance, risk and compliance (GRC) frameworks and controls: design and implementation

We help clients design and implement customised, legally sound compliance programmes, including policy and procedures development, training, risk management processes, and practical tools. We also advise on Know Your Customer (KYC), business partner approvals, whistleblower procedures, and frameworks for compliance with regulations such as EU CRD6, EU DORA, EU AI Act, EU CSDDD and the US AML FinCEN Rule.

Effectiveness assessment & controls testing

Effectiveness assessment & controls testing

We assess the design and operational effectiveness of risk and compliance management and controls frameworks, e.g. via gap analyses and current state assessments. We also provide practicable recommendations for uplifts to controls, e.g. onboarding, ESG and supply chain related controls. We are very experienced in leveraging clients’ existing resources to help them optimise their controls frameworks in a cost-effective way.

Compliance monitoring, QA and testing

Compliance monitoring, QA and testing

We can support in the development and enhancement of compliance monitoring frameworks and internal audit processes, including compliance plans, testing templates and reporting mechanisms and to enable clients to fulfil their second and third line of defence obligations.

Transaction due diligence and post-deal integration

Transaction due diligence and post-deal integration

We enhance the legal work undertaken on deals by offering due diligence and post-transaction controls reviews, including assessment of the effectiveness of risk management and controls frameworks. We can also support in the implementation of controls post-deal including for Joint Ventures.

Redress and remediation

Redress and remediation

Where an issue has been identified in an organisation, we carry out look-back analyses and wider redress exercises. We also develop remediation plans and execute remediation projects, e.g. for KYC deficiencies or review of supplier and other third-party contracts, or areas with a risk of regulatory censure. Close collaboration with lawyers ensures redress and remediation is embedded within a legal framework.

Third party risk management

Third party risk management

Against the backdrop of an increase in geopolitical risks, tariff and other supply chain issues, we provide vendor and supply chain due diligence and reviews of specific aspects of the supply chain, as well as controls design and testing. We can also assess joint venture risks, e.g. a breach or inconsistency with a Joint Venture partner’s ABC or sanctions policies.

Contentious investigations

Contentious investigations

We support our investigations team on compliance and controls-related reviews / remediation in relation to potential regulatory breaches, including assessing and defining data related to the issue, developing a methodology and performing data analysis in line with the agreed legal parameters.

Additional resources

Key contacts

Our risk and compliance consultants have significant experience in advising firms on regulatory compliance and risk-related matters, and extensive industry and sectoral expertise. Please see the team's profiles for further details.
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