Moving In-House: A Leap Into The Unknown...

Making the move from practice into industry in professional services can be quite daunting especially when private practice is all that you have known since training in the legal or accountancy professions.

Samantha Gray has recently moved in-house with alternative finance provider ThinCats as their General Counsel. She has shared her journey through the transition into her new role and how she has adapted to life in the first few months since joining -

“Since leaving private practice and joining ThinCats as General Counsel 7 months ago I have regularly been asked whether making the move in-house was the right decision. Without hesitation, the answer is a resounding “yes”!

I had spent the first 16+ years of my career at one firm, from trainee through to partnership and had anyone had asked me during that time whether I had ever contemplated working in-house the answer would have been a simple “no”. I loved my job, I had career aspirations and intended to climb the progression ladder.

However, after a year or so of partnership and thinking about how I saw my role developing over the next few years I began to think that it was time for a change. If I am being honest, I did, at first, think that a move to another, bigger, practice was the answer. 

That thought process developed further following an innocent glass of wine with a former client who had herself moved from an established career in the professional service industry to become the Chief Operating Officer of an alternative finance provider. On hearing of my plans, she mentioned that perhaps I might also like to have a look at the job spec for the General Counsel role her company, ThinCats, were currently advertising.

My initial reaction was why would I want to leave practice where I have spent years developing a following? However, the more I read the job spec the more I realised that a new challenge outside of private practice could actually be more exciting than a change of practice. Challenge has certainly been the word! But it has been the best of fun too.

I thought private practice could be fast paced, but being GC at ThinCats, a growing company in a developing sector, has out-trumped everything private practice ever had to throw at me. The first thing that really hit is the impact I have had upon the business. It’s one thing to provide advice to a client and let them make the decision, but another to take a leap of faith and make the decision yourself and then watch the impact of that decision first hand.

The main challenge of the role is managing expectations. I naively thought that I had one client, the company. However, that company is a group of companies, each comprising a multitude of stakeholders, each one a client with their own goals, needs and expectations. Managing these without the team of PAs, assistants and trainees that I had become accustomed to was a shock to the system. Time management skills are definitely a must for the in-house lawyer!

The greatest satisfaction of the role has been getting to know the business and people. Every day is different, one day the focus can be getting a loan to an SME over the line, the next it could be ensuring the GDPR project for the group is on track, the next securing £200 million investment funding into the business or assisting a colleague with a Platform query. Being part of that and seeing the business grow from strength to strength and knowing that you have had an integral part to play in getting there has been so motivational.

The opportunity within the legal function of the ThinCats is endless. As a growing company there is still so much to do to perfect the service we offer to our lenders, borrowers and partners. The company also has ambitious plans and the in-house legal role will be key in bringing some of those plans to fruition. 

There is a great deal more to being a lawyer than what private practice offers. Yes, in-house won’t be for everyone; for a long time I didn’t think it was for me. However, I now know that the spontaneity and hands-on challenges the in-house role requires are (for me, in any event) so much more satisfying and motivational than the private-practice model. 

What is in store for the next 7 months? One of my priorities is to start growing the legal team. One of my favourite aspects of private practice was to work with trainees and NQs and help mentor and develop their knowledge and experience and see them progress through their careers. I’m looking forward to continuing this in the in-house function and building a team of people who want to get their hands dirty, make a difference and have some fun along the way."

Current Opportunities to join ThinCats

In-House Legal Counsel

ThinCats are looking for an outstanding individual to join as their In-house Legal Counsel. In this exciting new role, you will work closely with the GC and other members of the senior management team.

Find out more here.

Corporate Recoveries Administrator

The Recoveries Administrator will be part of the Asset Management Team and have accountability for managing the portfolio of loans in default or a formal insolvency process, whilst always being mindful of the need to maximise the return and maintain a default rate below the industry average.

Find out more here.