93 - Confessions of a Risk Manager

When you assign your outside counsel, did you ever stop and think about the traits you’re seeking? Maybe it is an aggressive approach to litigation. Maybe it is mental dexterity. Maybe both. Perhaps trial experience is an absolute “must.” Perhaps you just genuinely like working with them. No matter what characteristics your outside counsel exhibits, chances are they are different from other risk managers and claims handlers across the country, let alone the globe. This week on “The Defense Never Rests,” we are joined – again – by Matt Margolis, who, after years of private practice, recently moved on to become the Director of Legal & Risk Management at Lloyd Jones. In this episode, we talk about not only the transition from firm attorney to risk manager, but also what traits he looks for when he hires outside counsel. Given his background, Matt offers a truly unique perspective. Just a few months ago, he was being assigned files from the people in the very seat in which he now sits! Matt can still vividly recall working up the defense of a file. But now he is the one asking the tough questions and making the big decisions. Most importantly, he’s learned what he likes (and loathes) in outside counsel. Spoiler: brevity in reporting is preferred! Matt also talks about how tough it was to “let go of the reins” and let someone else – someone who he might not have ever met and with whom he only recently started working – steer the ship through litigation. And, of course, if you have tuned into other episodes with Matt, you know he is a fun and engaging guest that is easily recognized as Matt the Millennial Lawyer! What challenges have you faced when managing outside counsel?