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CCCA_V5No2_StakeholderEngagement-FIN.qxd:CCCA_V1No1_DriversSeat-FIN.qxd 5/6/11 12:07 AM Page 25 Cover industries that hire its students, Eminata was able to help the government redefine its approach to student loans at a time when it was considering eliminating access to stu- dent loans for schools with high default rates among graduates. “We engaged with stu- dents and officials and developed an analysis of where risk was highest,”saysTrainor.“The result was a much more strategic shift. Instead of an entire college being at risk, the risk was based on the program. Dropping a program for us is an easy thing to do, but closing an entire college is another.” For general counsel, being involved — or taking a leadership role — in the stake- holder engagement process is obvious for many reasons.“As general counsel, we have a clear line of sight to various perspectives, threats and opportunities because we deal with them directly,” says Charnetski. “It’s not just assessing business risk,but legal risk as well, and the closer you are to the busi- ness, the better the legal advice you can provide. I’m a better general counsel and I’m better able to provide advice to the company by being the executive sponsor of our stakeholder engagement process as risk-mitigation is a key component to it.” What’s more, corporate counsel have “a company-wide view and provide a per- spective that is not always apparent in other areas. They touch all different aspects of a business, and by sitting at the corporate leadership table, they can promote stake- holder engagement and help with the embedding and integration process,” says Addis.“They also view things with a com- pliance lens, so they know where the risks are and how to stay compliant.” This is especially true for larger organiza- tions, says Trainor:“The skill of a corporate counsel is not just being a good and smart lawyer, but providing phenomenal integra- tion and intelligence-gathering of what’s happening in an organization. Good gener- Eric Miller al counsel exploit that ability to engage any Senior vice-president, part of an organization and see how it General counsel and secretary Nexen Inc. would have a broader impact on risk. All Calgary issues may appear unique, but good general ÉTÉ 2011 CCCA Canadian Corporate Counsel Association 25