The GC/Risk-Management Dynamic In Three Companies
January 19, 2023
An article in Canadian Lawyer reports on a forum that brought together general counsel from three major Canadian companies, along with one law firm attorney who was formerly senior counsel and global privacy officer at an international heavy equipment dealer. Topics discussed included risk management trends, data protection, and the interplay between legal and risk management at the respective companies.
At Canadian Pacific Railway, which does have a standalone risk function, weather and climate are key issues. At Laurentian Bank, where legal also works closely with colleagues in risk management, major issues include contractual and service relationships, disclosure obligations, and data security. Laurentian has challenges on that front most companies won’t have to face: It’s said to have been collecting customer data for close to 200 years.
At the third company, movie/entertainment chain Cineplex, cited risks include health & safety, insurance, and securities law, as well as IT security. The Cineplex loyalty program presents serious issues related to customer information, according to the GC. “I see every one of those little data points as a risk,” he says.
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