Juan Carlos Bustamante Gonzales – GC Powerlist
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Peru 2025

Financials

Juan Carlos Bustamante Gonzales

General counsel | Banco de la Nación

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Peru 2025

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Juan Carlos Bustamante Gonzales

General counsel | Banco de la Nación

Team size: 70

How has your role as in-house counsel evolved over the past few years, particularly in response to shifting global or regional dynamics?

My role as in-house legal counsel has evolved from an official focused on strictly legal matters for the company to a general counsel who not only focuses on the legal side but also oversees and has a say in the company’s corporate strategy, image, public relations, and compliance, based on a deep understanding of the core business. Without a deep understanding of the business and the dynamics of its necessary ongoing evolution, with a focus on where it’s headed, this multifaceted work, in which strategy is at the heart of the consultancy, not just the legal aspects, would not have been possible.

Can you describe a time when legal had to balance risk mitigation with enabling business innovation?

One occasion in which the legal department had to find a balance between risk mitigation and enabling business innovation was when the business required changing processes to reduce time and costs in the mass contracting of financial products through virtual channels and without physical paperwork. To achieve this, the entire legal strategy had to be designed to provide audiovisual evidence of these contracts without losing the agility required for managing them. While this meant an increase in default rates (higher risk), leadership in managing innovation allowed for a sustained increase in loan placements.

How do you build and maintain strong relationships with key internal stakeholders, especially in high-pressure or fast-moving scenarios?

Building and maintaining strong relationships with key internal stakeholders, especially in high-pressure or rapidly changing environments, requires close and transparent communication, ongoing and without intermediaries. It also requires a thorough understanding of the organization’s objectives and the pursuit of broad, standard goals, internalized and understood at the highest levels of the organization.

What do you consider the biggest challenge for in-house legal teams today, and how are you addressing it within your own team?

The biggest challenge for in-house legal teams today is quickly mastering artificial intelligence based on their understanding and using it as an ally, without seeing it as a competitor to the legal profession. It’s key to keep in mind that artificial intelligence is here to stay and be leveraged, not to replace lawyers in resolving corporate disputes.

How do you cultivate legal talent internally, and what skills do you see as most essential for the next generation of in-house lawyers?

In-house legal talent is cultivated by developing career paths, establishing meaningful challenges for the team, using objective and reviewable metrics, and employing assertive communication to gather and consider the needs and expectations of legal team members, regardless of their hierarchical position.

Among the skills I consider essential for the next generation of in-house counsel are mastery of emotional intelligence and interaction with artificial intelligence.

What measures has your company taken to embed sustainability practices into its core business operations, and how does the role of the general counsel contribute to driving and ensuring sustainable practices within the company?

Among the measures my company has adopted to incorporate sustainability practices into its core business operations are reducing paper consumption, managing solid waste through specialized companies and according to standardized protocols, promoting inclusion and diversity policies among employees, and maintaining the highest standards of commitment to information transparency and accountability from senior management.

My role in promoting sustainable practices within my company is focused first and foremost on always demonstrating the use of these practices, both personally and as the leader of the legal team. Second, ensuring the timely approval of each internal policy at the highest level, which enables sustainability practices to be viable. Third, promoting low energy consumption in technology for the legal team. Finally, acting as a guarantor of the implementation of security measures to protect confidential information and compliance with personal data protection regulations.

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