Challenge
This global bank uses a number of LOD lawyers in different capacities on an ongoing basis. The goal is to enable the in-house legal team to handle more work for the bank's procurement and business services, all whilst staying within budget.
The bank experienced a surge in workload at the end of the financial year. With an overstretched team of associates and no option to increase headcount, they needed immediate interim support.
Solution
We quickly assembled a team of 5 LOD lawyers with exactly the right experience to help the bank’s in-house legal function tackle their workload peak with ease. They provided support of around 650 hours per month to get them through the peak, with support flexing up and down when needed. LOD also provided a delivery manager to help manage the lawyers and project delivery.
Impact
With the LOD lawyers in place, the bank was able to review and negotiate more agreements more quickly, improving internal relationships thereby boosting the profile of the legal team. The ability to flex support up and down according to need meant the bank could handle the perk in the workload without breaking its budgets.
With regular reviews conducted by LOD, the client understood how to use their legal resource most effectively and free up permanent in-house lawyers to concentrate on higher value work.
What the client said
"We're impressed time and again not only with the quality of LOD's lawyers, but also with their ability to just 'get on with it'. We can now get more done without increasing headcount or incurring costs by outsourcing overflow work to panel law firms. We see LOD as a strategic partner in managing our legal work more efficiently."
Company director, global international bank
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