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Aspiring Lawyers - Applications & General Advice
Applications Discussion
Norton Rose Fulbright Question:
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<blockquote data-quote="Ram Sabaratnam" data-source="post: 190372" data-attributes="member: 36738"><p>Hi [USER=38115]@Elijah Wee Yang Yi[/USER] <img src="data:image/gif;base64,R0lGODlhAQABAIAAAAAAAP///yH5BAEAAAAALAAAAAABAAEAAAIBRAA7" class="smilie smilie--sprite smilie--sprite1" alt=":)" title="Smile :)" loading="lazy" data-shortname=":)" /></p><p></p><p>Your suggestion to discuss legal risks isn’t necessarily incorrect, but the question is more commercially focussed. It’s asking you to pinpoint <strong><em>one</em></strong> specific sector and identify areas of growth over the next 12 months. Navigating legal risks isn't what is typically meant by growth. Rather, "growth" typically refers to economic factors like increasing investment, market expansion, or economic and commercial opportunities arising from regulatory or technological changes.</p><p></p><p>For instance, NRF is well-regarded for its work in financial services. There are several trends currently posing growth opportunities and challenges in the sector, including the integration/application of generative AI in areas such as financial planning, insurance, and banking. Another trend to consider includes the ongoing development of digital assets and central bank digital currencies (CBDCs). Many central banks are accelerating pilot programmes for CBDCs in 2024, and financial institutions are navigating opportunities and challenges around adoption, including regulatory compliance, cybersecurity, and interoperability with existing systems. You could identify 2-3 such opportunities for growth in a sector the firm is well-known for advising in, and then briefly describe how NRF could play a key role in advising clients on these complex issues, leveraging its cross-border expertise.</p><p></p><p>Again, try to make the answer more commercially focussed, then tying in the ways that NRF can assist clients take advantage of those commercial opportunities. This will help you answer demonstrate both your commercial awareness and an understanding of the firm’s strengths. Best of luck with your application, and let us know if you have any other questions!</p></blockquote><p></p>
[QUOTE="Ram Sabaratnam, post: 190372, member: 36738"] Hi [USER=38115]@Elijah Wee Yang Yi[/USER] :) Your suggestion to discuss legal risks isn’t necessarily incorrect, but the question is more commercially focussed. It’s asking you to pinpoint [B][I]one[/I][/B] specific sector and identify areas of growth over the next 12 months. Navigating legal risks isn't what is typically meant by growth. Rather, "growth" typically refers to economic factors like increasing investment, market expansion, or economic and commercial opportunities arising from regulatory or technological changes. For instance, NRF is well-regarded for its work in financial services. There are several trends currently posing growth opportunities and challenges in the sector, including the integration/application of generative AI in areas such as financial planning, insurance, and banking. Another trend to consider includes the ongoing development of digital assets and central bank digital currencies (CBDCs). Many central banks are accelerating pilot programmes for CBDCs in 2024, and financial institutions are navigating opportunities and challenges around adoption, including regulatory compliance, cybersecurity, and interoperability with existing systems. You could identify 2-3 such opportunities for growth in a sector the firm is well-known for advising in, and then briefly describe how NRF could play a key role in advising clients on these complex issues, leveraging its cross-border expertise. Again, try to make the answer more commercially focussed, then tying in the ways that NRF can assist clients take advantage of those commercial opportunities. This will help you answer demonstrate both your commercial awareness and an understanding of the firm’s strengths. Best of luck with your application, and let us know if you have any other questions! [/QUOTE]
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