ℹ️ Phase 2 of 4 — Risk Assessments
If your firm is not using Risk Assessments, skip this article and move to the next module in Phase 2, or go straight to Phase 3.
Risk Assessment setup is more straightforward than it might seem. You build your template directly in Legl, using your existing risk assessment form and scoring logic as the basis. For larger or more complex builds, your Legl Launch Manager can assist. Most firms can set this up independently.
Once your template is live, fee earners can complete a client risk assessment in Legl without leaving the platform, and results are stored automatically against the client record.
Before you start
You need admin permissions to configure Risk Assessment settings and build templates.
Consider involving your compliance lead or MLRO in finalising the template. They will typically have a view on the questions and scoring approach and may want to review it before it goes live.
If your firm does not have an existing risk assessment format, the SRA publishes a standard client and matter risk template that you can use as a starting point. Adapt it to reflect your firm's risk appetite and client base before building it in Legl.
Have your existing risk assessment form, scoring logic, and reassessment triggers to hand before you begin.
What to prepare
Before building your template in Legl, make sure you have the following clear:
Your risk assessment form — the questions you ask for client risk and matter risk. If you have separate forms for each, prepare both. If you are starting from scratch, use the SRA standard template as your basis.
Your scoring logic — how your form calculates a risk rating (for example, how scores add up to Low / Medium / High). If this is not already documented, write a brief description before you begin building.
Your reassessment triggers — how often clients should be reassessed, and whether specific events trigger a reassessment (for example, a change in matter type or a PEP match).
Your escalation contacts — who should be notified when a high-risk result is returned. This is usually the MLRO or a compliance lead. Confirm this person's email address before building.
Configure your risk assessment settings
Step-by-step: configure settings
Step-by-step: configure settings
In Legl, go to Settings and select Risk Assessments. This section is only visible to admin users.
Set your escalation alert email. This address receives a notification when any assessment returns a high-risk result.
Configure your reassessment reminder period. This is how long after an assessment is completed before a reassessment reminder is triggered. Set this to match your firm's policy.
Review the manual override setting. This controls whether fee earners can manually change a risk rating after the system calculates it. Check with your compliance lead whether to allow this before enabling it.
Build your risk assessment
Step-by-step: build your template
Step-by-step: build your template
Confirm your risk assessment form and scoring logic are ready before building. If you do not have an existing form, use the SRA standard template as a starting point and adapt it to your firm's risk appetite. Ensure it aligns with your firm's internal risk policy.
Build your template in Legl. Add your questions, answer options, and scoring logic. If your build is complex or a Legl team member is assisting, share your materials with your Launch Manager instead of building directly.
Test the template on a sample client to check that the scoring returns the expected result before setting it to live.
ℹ️ Further guidance
Important information
Only admin users can access Risk Assessment settings and manage templates.
Your template should align with your firm's internal risk policy. Have your compliance lead review it before going live.
Allow a few days for the build, testing, and any review before your go-live date.
Templates can be updated after go-live. Changes apply to future assessments only. Notify your team before making changes to a live template.
Archived templates are removed from the active list. Any in-progress assessments using an archived template can still be completed.
Source of Funds data is pulled into risk assessments automatically if your template includes Source of Funds questions. The questions must be mapped correctly during the build.
Before you move on
Your template has been built, tested, and confirmed as aligned with your firm's risk policy.
Your compliance lead or MLRO has had the opportunity to review the template.
Your escalation alert email and reassessment reminder period are configured.
You have agreed your manual override policy with your compliance lead.
ℹ️ Next steps
If you have other modules to configure, return to your Phase 2 module list.
When all your modules are ready, move on to Launch Phase 3: How to add and manage users.