Alumni News

Outpacing change in risk - Philip Hardy

Phil leads Ashurst’s Risk Advisory practice in Australia, which helps leading organisations with all aspects of operational risk, compliance, regulatory change, remediation, governance and conduct.

Phil, what exactly is risk advisory, and why is it so important?

We understand that when clients need legal advice they need a solution to the whole problem or opportunity they are contending with. This was the founding principle behind the launch of the Ashurst Risk Advisory practice in 2020. Ashurst Risk Advisory provides clients with practical and commercial approaches to managing risk, particularly where there is a need to ensure that legal and risk implications are "joined up". When clients seek Ashurst's integrated solutions, they have access to expertise that will help them understand the entire issue.

What is Ashurst doing to stay on top of risk management trends and how are we ‘Outpacing Change’ in this field?

We are relentlessly client-focused, giving us a deep understanding of our clients’ ambitions and challenges. Ashurst Risk Advisory is structured around seven key priority areas directly aligned to the most pressing issues of our clients. By playing to the strengths of the firm, we can optimise the client experience and outpace change by providing the practical solutions necessary to operationalise the advice. We understand that change is a constant and our strategic priorities offer a framework to leverage the disruption and emerging risk areas to instigate growth opportunities in an increasingly complex operating environment. Our strategic priority areas are:

  • Regulatory change
  • Cyber incidents
  • Data risk management
  • Financial crime
  • Third party risks
  • ESG litigation
  • Workplace risks

From a personal perspective, what do you enjoy most about your role?

Knowing that we can help clients throughout the life cycle of their issues is immensely rewarding. Working with our outstanding lawyers on these issues means we deliver more value for clients. We also really understand the issues from a range of perspectives – not only the legal implications, but also the business and operational consequences. Joining these up in an integrated way really helps clients in ways they haven't had access to in the past.

Do you have any advice for alumni with in-house roles on how to stay on top of risk?

With the constant barrage of change affecting businesses, the role of General Counsel has evolved into one that has to deal with profound complexity across new and emerging risks. The responsibility of managing these challenges is increasingly formidable, and can leave even seasoned professionals feeling overwhelmed. The Risk in Real Life: Challenges facing General Counsel in Australia aims to equip you with the capabilities and expertise necessary to excel in protecting your organisation against the emerging risk areas by highlighting the uncomfortable truth that managing all risks in-house is no longer feasible. Embracing external support offers a practical solution to the escalating demands of risk governance. A in investing I strategic approach to in-house capability is also essential.

Download The Risk in Real Life: Challenges facing General Counsel in Australia and follow Philip on LinkedIn for future updates.

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