Joining a private fund as a new GC/CCO can be a heady, overwhelming transition, particularly during the critical first 100 days of the tenure. Familiarity with a firm’s business and the key relationships therein can provide a stable framework, however, around which all actions can be organized. Although those two objectives will remain part of a new GC/CCO’s agenda for more than 100 days, the GC/CCO can use his or her first three months in the role to set the groundwork for future efforts. This second article in a three-part series explores how new GC/CCOs can perform the foundational tasks of learning about the firm and developing strong relationships with key people during their first 100 days. The first article
offered guidance for starting the GC/CCO role on the right foot, including ways to prepare before day one and the best approach to face the first 100 days. The third article will discuss how new GC/CCOs can balance their day-to-day legal and compliance work while settling into the role; when and how to propose reforms to the firm’s operations; and what to expect beyond the first 100 days. See our two-part series on the SEC Division of Examination’s risk alert on compliance: “Limited Staffing, Marginalized CCOs and an Overall Lack of Resources at Fund Managers
” (Feb. 18, 2021); and “Inadequate Annual Reviews, Poorly Implemented Policies and Other Key Takeaways
” (Feb. 25, 2021).