As the end of Biden’s first 100 days as president approaches, his stakeholders – the U.S. public – are already evaluating whether he is up for the job. The same happens in a new GC/CCO’s first 100 days at a firm, as he or she is forced to adjust to the role’s rigors while simultaneously performing the position’s legal and compliance duties beginning on day one. Along with developing knowledge and relationships in their first 100 days, GC/CCOs must continuously evaluate the firms’ weaknesses and risks with an eye toward introducing reforms in the next 100 days and beyond. This third article in a three-part series analyzes how new GC/CCOs can balance getting up to speed at their new firm with performing the day-to-day legal and compliance work it requires, while also evaluating necessary changes and improvements going forward. The first article
offered guidance for starting the GC/CCO role on the right foot, including how to prepare before day one and ways to set the right tone for the new role. The second article
explored how GC/CCOs can prioritize gathering knowledge about the firm and building the foundation for solid relationships with key people in their first 100 days. See our three-part series: “Why Fund Managers Must Review Their Positions on Succession Planning and CCO Outsourcing
” (Apr. 14, 2020); “What Fund Managers Should Consider When Hiring and Onboarding CCOs; Determining CCO Governance Structures
” (Apr. 21, 2020); and “A Succession‑Planning Roadmap for Fund Managers
” (Apr. 28, 2020).