New research from Gartner reveals that legal, compliance, and privacy leaders are focused on strengthening their impact on company strategy for 2024. The top priorities identified include improving third-party risk management (TPRM) and ensuring compliance programs can adapt to rapid regulatory changes. The survey of 179 legal, compliance, and privacy leaders highlighted the need to develop guidance for better risk and benefit balance, as well as to update compliance training to meet employee needs. Stuart Strome, Director of Research in the Gartner Legal, Risk and Compliance Practice, stressed the necessity for these leaders to encourage others in the business to take ownership of risks, citing the lack of resources, expertise, and visibility. He also noted the expanded roles of general counsels and chief compliance officers, now requiring them to fulfil functions beyond their traditional legal and risk management duties.
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