Eckler GC, Rustam Juma, on the importance of enhancing governance processes

While many companies have struggled to stay afloat amid the ongoing pandemic crisis, actuarial consulting firm, Eckler Ltd., has thrived due to high demand from insurance companies and pension plans facing financial stress or the need to make changes in light of new regulations.

Amid the crisis, general counsel and corporate secretary, Rustam Juma, is focusing on maintaining a healthy and engaged workforce that can manage a heavy workload.

“Human capital is our biggest asset,” says Juma. “We’re focusing on things like employee engagement and mental health while people are working remotely.” Eckler’s purpose statement, which was developed 18 months ago, is now more valid than ever, Juma says: To care and do right by people so that together we can achieve a brighter, more successful future.

“Everything we’ve done has been to look after our people – not only their safety – but their professional livelihood as well,” says Juma, who joined Eckler as the company’s first in-house counsel four years ago, bringing in-house experience from organizations including Bell Canada, Kellogg Company and Deloitte.

Enhancing governance processes and focusing on the integrity of the organization have also been top priorities for Juma in recent months. This process involves enhancing shareholder agreements and the mandate for the board of directors, as well as implementing self-assessments of the board, and improving board processes and governance, and implementing board education.

“While other companies are just focused on surviving right now, I think it’s important not to lose sight of your ethics and your core values as an organization,” says Juma. Many organizations are experiencing corner-cutting or attempts to enhance financial results as a result of the lack of office oversight, so enhanced governance is more critical than ever, Juma says.

Addressing issues of equity, diversity and inclusion is also close to Juma’s heart, as a founding member of  the National GC Network – a group of general counsel who strive to bring these issues to their boards. Eckler recently hired a director of people and culture with a background in D&I initiatives so she is working with Juma to develop a new strategy which will soon be approved by the board and rolled out to all staff.

“What we’re focusing on is low-hanging fruit, as there are so many things that can be done to improve inclusiveness,” says Juma. “Simply communicating our objectives helps improve employee engagement.” Other simple strategies include having a religious holiday calendar, continuing training in unconscious bias, and ensuring that appropriate metrics are in place. Juma is also reviewing policies and examining promotion criteria to ensure they are inclusive. Diversity champions have also been appointed throughout the firm to mindfully consider diversity in all decision-making processes.

“Working with the National GC Network gives me that lens to inform things we’re doing internally at Eckler as well,” says Juma. He is also actively monitoring ESG matters to stay aligned with clients and with the broader industry.

As a solo lawyer working with an executive assistant, Juma hopes to expand his team shortly by hiring a new lawyer to be onboarded remotely. Among his goals for the year ahead, Juma also plans to keep abreast of changing privacy legislations and making sure best practices are followed at Eckler.

In addition to cyber security technology such as multi-factor authentication and Microsfoft Azure Data Encryption at Rest, Juma is currently testing out Microsoft Power BI which creates real-time metrics to provide insights into legal spend and the number of hours being spent on specific tasks.

“A personal goal for 2021 is to embrace technology and evaluate the different types of technology that we can use to build on our momentum and look for ways to improve our efficiencies and productivity,” says Juma.