COLPs and COFAs: Roles & Duties
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This session will cover the two roles within the law firm that carry the most responsibility – the COLP and the COFA.
The COLP is responsible for anything non-financial within the law firm – client matter supervision, compliance, regulatory obligations, file reviews, client care, continuing competence, PII cover, fraud and cybercrime, GDPR – the list goes on. The COFA, on the other hand, is charged with checking that the Accounts Rules and general financial viability are being observed, and that what happens in fact accords with the theory.
Learning objectives:
- The roles of the COLP and COFA
- Who can be a COLP?
- Who can be a COFA?
- COLP responsibilities in detail
- COFA responsibilities in detail
- Overlap with MLCO/MLRO and H&S and other roles
- ‘All in this together’
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Trevor Hellawell
CEO • ExL Practice Development
Trevor Hellawell is a solicitor and legal training and management consultant working with major law firms, local law societies, many legal training providers and other clients. Until going freelance in 1999 he was a full time lecturer with the University of Law, ending his career as a Principal Lecturer at the York Branch. Until recently returning to the freelance arena, he was Head of Law Programmes at BPP.
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