Here's my answer to the recent goal and a change in the legal sector questions. Also, the grad rec I spoke to said to link the change to the firm as well.
Provide an example of a change in the legal sector, which has happened or yet to happen, which interests you and discuss the impact it has had or could have. (250 words)
September 2016 saw the introduction of the new initial margin requirements for non-centrally cleared over-the-counter (OTC) derivatives. The global framework published by the Basel Committee on Banking Supervision (BCSB) and the International Organisation of Securities Commissions (IOSCO), has now been adopted in many jurisdictions. However, the differences in the implementation of margin requirements have created unnecessary complexity and costs to participants in the derivatives market. To achieve regulatory compliance, Allen & Overy’s clients will have to undertake a significant repapering exercise. Failure to do so would result in prohibitions from trading with certain counterparties, as well as sanctions and reputational damage.
The collaboration between Allen & Overy’s Tier 1 ranked Structured Finance and Derivatives practice and Deloitte comes as no surprise. It demonstrates the firm’s willingness to implement cutting-edge technology and improve the delivery of legal services. By automating the drafting process, MarginMatrix can create significant cost savings for the firm’s clients, alongside freeing up their lawyer’s time to focus on adding value elsewhere for clients. The industry impact more generally will be greater regulatory compliance across market participants and jurisdictions.
My interest in legal technology originated at college, where I co-developed an award-winning cloud-based CRM software for use in the legal clinic. I thoroughly enjoyed improving the efficiency and delivery of legal services, and to that end, I have begun learning how to code in Python. From this, I endeavour to further my understanding of machine learning and wish to continue developing innovative solutions at a firm like Allen & Overy.
Describe a recent goal you worked towards and specify in detail how you approached the achievement of that goal, including any lessons learned. (250 words)
In March 2019, I brought a claim for misrepresentation in the County Court against an agent.
In August 2018, the defendant showed me a rented apartment. Assured it was acceptable to sublet on Airbnb; I paid a holding deposit. The landlord subsequently refused to remove the clause prohibiting subletting from the lease and so I set about recovering my money. Before commencing legal proceedings and endeavouring to comply with the Civil Procedure Rules (CPR), I attempted alternative dispute resolution (ADR). Negotiations proved unsuccessful. Choosing not to settle for the landlord’s inadequate offer, I filed a Money Claim Online. The claim was transferred to the small claims track in the County Court after the defendant refused mediation.
Compiling a 97-page trial bundle was time-consuming; however, it was enjoyable and rewarding. Putting my university mooting experience to practical use and furthering my CPR knowledge was a welcome opportunity. Balancing litigation with my extracurricular activities, legal studies, and a part-time job, demonstrated the importance of effective time management, task prioritisation and delegation.
At the hearing, the judge questioned whether the claim should be brought against the agent or the landlord. Improvising, I argued the landlord would have a defence; therefore, the claim would fail. Satisfied that I proved my case and that it was against the correct defendant, judgment was handed down in my favour.
I learned the importance of being thorough in litigation preparation, alongside the need to be adaptable and to be able to respond to unexpected legal and business challenges.
I think it’s perfect 
