Viviana Alvarado Balderas – GC Powerlist
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Mexico 2023

Financials

Viviana Alvarado Balderas

Head of legal and compliance | Sura Asset Management México

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Mexico 2023

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Viviana Alvarado Balderas

Head of legal and compliance | Sura Asset Management México

Could you share an example of a time when you came up with an innovation that improved how your legal team works and did not come at a large expense?

The challenges posed by the pandemic prompted my team to explore and implement the use of different tools and new ways of working and communicating to continue legal operations in a demanding business environment. Some changes happened almost overnight, and others took several weeks, but the result was a fundamental transformation of legal operations with significant impact on the business. We reduced the use of paper by 60% and implemented electronic signatures with legally binding effects in compliance in accordance with Mexican law. We also develop many tools at minimal cost – using Office 365 – to improve our legal and compliance obligations and reduce our response time.

Can you foresee any key developments to the way general counsel work over the next five years?

The general counsel must be innovative, and technology oriented – this is non-negotiable. We must not only become familiar with the use of new technologies as work tools, but also, and more importantly, understand them fundamentally. This will impact how we work and address requests from our internal clients and how we engage to add value to our company’s customer journey.

How do you prioritise diversity and inclusion within your legal department, and what initiatives have you implemented to foster a more inclusive and equitable work environment?

I have always looked for the most talented people to be part of the legal and compliance department, regardless of gender, beliefs, race, sexual orientation, and social status. I have proven that this thinking is the best recipe for a powerful and successful team, such as the one I have the privilege of leading.

I have prioritised diversity and inclusion by taking an interest in getting to know each member of my team, who they are, where they come from, their interests, concerns, and goals. Most importantly, I care about what I can do for them as a leader, how I can help them grow and develop their strengths, and how I can help them work on their vulnerabilities.

For example, more than 50% of my team are women, with two of them as team leaders. One of our lawyers is visually impaired. We all come from different social backgrounds and have diverse thoughts. All these differences make us an exceptional team.

Mexico is known for its extensive network of international trade agreements. How would you navigate the complex legal requirements associated with cross-border transactions, considering the changing trade dynamics and regulations in Mexico?

Nearshoring has become an opportunity for our business from the institutional investor’s point of view. However, in recent years we have noticed an appetite to challenge the protection provided by law to companies interested in investing in Mexico. I believe that we must work with authorities and civil society organisations to maintain the rule of law and for Mexico to continue to be an excellent opportunity for private investment.

What is a cause, business-related or otherwise, you are passionate about, and why?

I am passionate about sustainability for everything it encompasses. It is precisely an aspect so natural that it seems to have been forgotten, for no reason. I am passionate about the social and corporate governance pillars. Good governance creates a significant impact on the stakeholders of each company. It is incredible how unethical behaviours and decisions have caused so much damage. For example, all these dramatic financial scandals of the last 20 years were produced by unethical decisions. I am also passionate about pro bono; it is unreasonable that not everyone can preserve their rights – I believe that lawyers have an intrinsic commitment to society and the most vulnerable.

Viviana Alvarado Balderas - Mexico 2022

Head of legal and corporate governance | Sura Asset Management Mexico

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