Edyta Werońska-Karcz – GC Powerlist
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Central and Eastern Europe 2019

Financials

Edyta Werońska-Karcz

Head of legal department, country legal coordinator | Société Générale Oddział w Polsce

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Central and Eastern Europe 2019

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Edyta Werońska-Karcz

Head of legal department, country legal coordinator | Société Générale Oddział w Polsce

About

What are the most important transactions and litigations that you have been involved in during the last two years?

I have taken from Societe Generale (SG) London negotiations of ISDA master agreements and collateral agreements with Polish counterparties to make the process more efficient.

These agreements are based on standardised contracts for derivative transactions created by the International Swaps and Derivatives Association to be used over the world and must include conditions and clauses required by SG, governed by English law. At SG London, there is a whole division of lawyers dedicated to negotiating the agreements. Therefore, the solution that local lawyers are negotiating in such agreements is unique in SG Group.

This task requires from me not only proficient knowledge of ISDA standards, but also SG policies and procedures; communication and managing skills to gather approvals or information from SG divisions, knowledge of SG systems in which I register the process of negotiations and internal validations; management of relationship with SG clients and the process of agreements execution. And of course, good negotiations skills to reach an agreement with SG clients.

Knowing the local market conditions and Polish law, I can proceed with negotiations more smoothly and quickly than my colleagues in London, with a much better understanding of the needs of SG clients operating in Poland. Taking over this responsibility by me facilitated the process and was very much appreciated by business lines and SG clients. As the documentation is governed by English law, the final verification from this perspective is handled by my colleagues in London.

I am also involved in the implementation of EU and local law regarding banking sector and regional or global projects lead within SG Group. That required highly developed management and communication skills – coordination of work of many people from different SG divisions, cooperation with law firms, solving problems, acting under the pressure of time.

There are no litigations due to the very effective legal service.

How important are “soft skills” or personal attributes outside of technical legal skill, and which “soft skills” do you feel are most important for an in-house lawyer to possess?

Soft skills are very important, as without these lawyers cannot properly understand a client’s needs and pass legal knowledge in the useful manner. The most important soft skills are emotional intelligence and effective communication.

Effective communication allows a lawyer to get all the needed information and lets a client better understand legal risk and make a conscious decision. An in-house lawyer should fully understand a client’s business, goals and expectations; he/she should be a partner in finding solutions. An adviser that gives the real support, not only information what the law states. The in-house lawyer should be trustworthy, dependable and open-minded.

What are the main qualities you look for in a potential new hire?

A potential new hire should be self-motivated, dependable and autonomous, with passion for gaining new knowledge and experience, having problem-solving skills with full responsibility for their work.

What advice would you give to any peers or colleagues working in the Polish market for the first time?

In Poland the legal environment is challenging – the rules for businesses are changing and confusing, what is required from a lawyer includes current law monitoring, flexibility and speed in action to help clients to keep and develop their business. Young [Polish] entrepreneurs are very creative, there are many start-ups and projects that attract foreign investors. This requires lawyers to have the same attitude, and actively participate in the business growth of their clients.

What can law firms in Poland, and the wider CEE region, do to win more business from you?

They should have high-quality specialist expertise, give clear advice and concrete recommendations instead of “theoretical considerations”. It should be more practical with a problem-solving approach. Share not only their knowledge but also experience.


FOCUS ON… SURVIVAL AND RESPECT

Corporations have complex structures and require rules, which because of their global character must be universal. This may have negative impacts, creating constraint at the level of local entity performance. These circumstances require lawyers’ creativity, flexibility, courage and a common-sense approach. The key to success is to comply with global requirements and keep what is precious at the local level, such as effectiveness resulting from good communication and relationships, quick decision making and action.

An in-house lawyer gains trust and respect from the client when he/she is a real partner to the client: listens carefully, understands the client’s business and its goals, considers not only legal, but also the other aspects of the matter like technical or operational conditions of the client’s performance. The client expects presentation of legal risks and all possible solutions in a clear manner with concrete recommendation of action and support in negotiations, if needed. Only when the client understands the reasons behind a legal position taken by his lawyer, she/he may have comfort that his business decision was taken after due consideration of all the legal aspects connected with the issue. The client must be aware of not only what is allowed and what is not, but also “how” to act and “why” something cannot be done in the manner he planned and if there are any other options.

The client should feel comfortable, being certain that legal due diligence and drafting complex documentation are not to block business and prove to be a useless formality, but for protection against all future, unforeseen circumstances. Even if negotiations with a contractor go well and the cooperation seems perfect, the lawyer must prepare the client for the worst scenarios; to avoid disputes, which may lead to long and expensive litigations and spoil long-term relationships with the contractor. A lawyer should also be resistant to the client’s pressure and gain conditions for due legal care. Legal service should be proper regardless of stress and other adverse conditions.

Last but not least – a client will trust their lawyer and respect him not only, when business is going well and legal opinions seems accurate, but also when a lawyer has courage to admit their mistakes. Everyone may be mistaken, but the key is to admit it and quickly cure the problem after it is discovered. The reason for the mistake should be detected and proper steps undertaken to avoid such a situation in the future.

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