The general counsel’s role within an organization is to identify risk and support new business opportunities. During “normal” times, this might look like this: advising business leaders on the legal implications of new ventures, steering contract negotiations with the CFO, or helping HR stay compliant during a merger.
During a financial crisis, like the recent collapse of Silicon Valley Bank, the GC’s role remains the same in nature; to identify risk and support new opportunities. That work, however, is expected to be delivered in the shortest amount of time possible, with as little error as possible, to minimize risk as much as possible—and keep the company alive.
