General counsel, Chile and lead counsel for Latin America | EY
Tatiana Munro Cabezas
General counsel, Chile and lead counsel for Latin America | EY
What are the most significant cases, projects and/or transactions that you and/or your legal team have recently been involved in?
The financial year 2025 was intense in regulatory matters, with new regulations like the 40-hour law, Law No. 21.643 or “Ley Karin”, and the New Economic Crimes Law. These changes involved significant analytical work, adjusting risk matrices and processes, defining new controls, and updating policies, regulations, and contracts. Additionally, extensive communication efforts were necessary, as it was essential for our lawyers to not only know the law but also to train Partners and employees.
The major challenge for any general counsel office remains the constant job of keeping these regulations present at a strategic and decision-making level across the organization.
At the Latam level, we have been working on improving and streamlining our contractual processes, aiming to standardize criteria and mitigate risks in cross-border transactions, which is imperative in an increasingly sophisticated market. These challenges require a deep understanding of the business and significant leadership efforts to build bridges beyond merely managing differing jurisdictions. The skills required to work with international teams are increasingly essential for in-house lawyers at all levels.
How do you approach managing legal aspects during periods of instability or crisis to ensure the organisation’s resilience?
In crisis scenarios, proper management of legal aspects requires a holistic view that allows for understanding causes and impacts across various dimensions. Additionally, understanding the emotions and concerns of all stakeholders can help mitigate tensions and lead to better decision-making.
Strong and empathetic leadership with solid legal knowledge is key, along with effective communication skills, critical analysis, negotiation ability and teamwork. The capacity to make quick and effective decisions under pressure is essential. By investing in the development of these skills within its leadership, an organisation prepares itself to face crises more effectively and strengthens its resilience for future challenges.
Have you had any experiences during your career as a lawyer that stand out as particularly unique or interesting?
Throughout my career, I have had various unique experiences, but perhaps the most memorable was assuming corporate legal management of ENAP (National Petroleum Company) during the 2018 environmental crisis in Quintero. The urgency of my role allowed me to deploy my knowledge and potential fully. This challenge required leadership in strategic, reputational, environmental and judicial areas. A crisis like this may take precedence over other matters, but other issues affecting a company must not be forgotten, especially in a challenging industry like energy, in a public company with a strong union component and while implementing a new corporate governance structure in compliance with the then-new Law 21,025. The satisfaction of each achievement and contributing to the country’s growth made my time at ENAP particularly unique and interesting.
What factors influence your team’s decision to use external legal services versus handling matters in-house, and what criteria are used to evaluate their performance?
In general, I prefer internal legal work; internal teams understand the business better, are more practical in their approach to risks, and respond faster and more efficiently. For complex matters, we conduct internal legal analyses and, if needed, cross-check our criteria with external counsel. Based on experience, I prefer to outsource litigation while actively participating in supervising the strategy. A good external lawyer must understand the regulations impacting their clients’ business, provide quick and creative responses, and help adopt or support the best strategies and decisions.
Lead counsel, LATAM and general counsel, Chile | EY
Corporate legal manager | Empresa Nacional del Petróleo
Corporate legal manager | Empresa Nacional del Petróleo (ENAP)
Nominated by peers for consistently ‘delivering a high level of legal advice with a strategic vision’, Tatiana Munro Cabezas is corporate legal manager at ENAP. Given ENAP’s status as the...