Peer to Peer Magazine

65 WWW.ILTANET.ORG performance monitoring systems, I take a deep look at what we are doing to make sure I understand how it all fits in the puzzle. I want to review as many data points as quickly as I can to support operations now and in the future. How do you manage the expectations of the partners for whom you work? Managing expectations and finding a balance among the constituencies and their competing interests can be a challenge. Everyone at V&E wants to succeed, but success can be defined in so many ways. First and foremost is how our clients measure success. Aer that, success can be a maer of perspective. Is success expanding in certain practice groups or geographic markets? Is it a revenue target or profitability objective? A diversity goal? In reality, success is all of these things plus more, and the COO must balance interests across that broad spectrum. I spend much of my time with our management commiee and senior practice group management team trying to do just that. What will you say to the group of wide-eyed summer associates waiting for you next door? I will talk to them about the business of law: » The trends we see in the profession » Firm economics » Our key metrics » How we approach measuring and reporting what we do Even if they don't understand all of it now, they will have to grasp everything in a few years as they move through the associate ranks, taking on more senior roles where project oversight and optimum Given your broad background, how do you approach the role of COO differently than some of your peers? It's hard for me to say whether I approach the role differently or not. I just know how I approach the job, and what works for me and V&E. However, I talk with a lot of peers, and there seem to be similarities — baseline concerns we all deal with — but our approaches in certain areas vary. My combined financial and IT background allows me to see into data and metrics from a slightly different perspective and can position me to respond to situations from a different angle. How else has your background in finance shaped your approach to leadership at V&E? I look at the firm as a big portfolio project and then work with firm leadership to manage returns across the whole sphere — by practice, office, partner, client, — any way we can cut it and dive into it. I also pay close aention to external forces that affect the firm and our practices. What's going on in the global economy and individual markets? How might changes in commodity prices affect our clients and the firm? How can we approach our business to ensure we do well in both good and challenging times? This is a complex puzzle, and the shapes of the pieces continuously change as we try to put it all together. The first half of your career was in IT. How has that influenced the way you lead as COO? I guess I am somewhat unique among my peers because I speak zeros and ones and debits and credits. I ask diverse questions and can review our technology investments with a broad scope of how they affect the organization. From our data centers and cybersecurity projects, to our practice-focused initiatives that improve efficiency, to innovations like real-time and predictive Why the Boom Line Should Be Top of Mind FEATURES JOE BUSER Joe Buser is the Director of Business Development for Traveling Coaches, a talent development and change management partner to the majority of the Am Law 100. Traveling Coaches is an ILTA Platinum Sponsor and frequent contributor to Peer to Peer, ILTACON sessions, webinars and roadshows. Contact him at jbuser@travelingcoaches.com. Founded a century ago, Vinson & Elkins employs about 700 lawyers among 16 offices on three continents and is currently ranked 55 on the Am Law list of the largest firms in America. With headquarters in Houston, the firm has long been a leader in energy and corporate finance and myriad other areas of law. Just back from a tour of the firm's Asian offices, I caught up with Tim in Dallas as he prepared to brief this year's class of summer associates.

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