Luis E. Olmos – GC Powerlist
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Mexico Rising Stars 2023

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Luis E. Olmos

Principal, tax Mexico and CCA | Airbnb

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Mexico Rising Stars 2023

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Luis E. Olmos

Principal, tax Mexico and CCA | Airbnb

Can you tell us about your journey to becoming an in-house counsel? What inspired you to pursue a career in this field? 

I started my career in private practice working at a full-service corporate law firm in Mexico, so I have been privileged to have worked from both sides of the court. Personally, I really enjoyed my career in private practice – I have always thought about it as my real-life graduation as a lawyer. During my private practice years, I had the chance to work for and learn from brilliant in-house leaders which inspired me to learn more about the role of lawyers in companies nowadays. As I advanced in my private practice career, I was impressed by the skills that successful in-house lawyers develop and showcase in business transactions, which is perhaps what inspired me to pursue a career in this field myself. Some of the main things that I looked up to when working with inhouse leaders were (and remain):

(i) the ability to be involved in strategic business decisions, which is normally the step that follows legal advice.

(ii) the ability to simplify or explain complex legal issues to cross functional teams /disciplines  – very important!

(iii) ability to work within multiple jurisdictions  – which is generally not the case in private practice

(iv) flexibility and business learning opportunities.

In your role as an in-house counsel, what are the main responsibilities and tasks you handle on a day-to-day basis? 

Being part of a rapidly growing company can be comparable to a rollercoaster ride most days. Generally, my day to day moves around three pillars (i) acting as a strategic partner to the business by covering and shaping risks to foster the business growth, (ii) ensuring that we operate under the highest compliance standards in our region and within our discipline, and (iii) addressing regulatory threats and opportunities in the tax space, including working with governments at all levels on initiatives to tax the digital space and our particular business. A typical day at the office ranges from analysing a new business initiative or product on the roadmap to reviewing a federal legislation and assessing if it poses any risks for the company or to talking with government officials to implement frameworks to tax the digital economy according to international best practices.

What are some of the key challenges you have faced as a rising star in-house counsel, and how have you overcome them? 

The landscape in our industry (digital economy and travel) is quite dynamic from a regulatory perspective. Federal and local governments are still catching up to speed with digital business models and how they coexist (or don’t) with their tax legislation. In that sense, some of the major challenges I have dealt with in my role and region are the high number of legal initiatives over how to tax companies like us. Some of these initiatives pose major challenges for companies to comply with and also to be able to continue growing their business. To overcome these challenges the key has been teamwork and the ability to make quick decisions. Teamwork has meant being able to work smoothly not only with our amazing team but also with external parties such as  industry peers, advisors and subject experts in each region and territory we operate. The other challenge that I would point out is having to make quick decisions and assessments in a much more efficient fashion than when working in private practice. In a company opinions are more important than caveats (generally speaking) so you need to be ready to deliver them when required and to lean on your external lawyers to brainstorm if required. Time is a limited resource and prioritizing tasks and making quick decisions are a key part of in-house life!

What steps have you taken to enhance your professional development and expand your legal skill set? 

Honest assessment of strengths and weaknesses as a lawyer in a business environment is key if you want to continue growing within your company.  Secondly, I would point out that it is important to show intention towards improving those areas of opportunity.  Personally, I have pursued continued legal education, attending seminars and conferences regarding topics that are of interest/relevance for my position and I have tried to remain curious and ask as many questions as possible. Another important step is to ask teams and people you work with for help to develop a particular area of expertise – you would be surprised of how much you can learn from people around you if you dare to ask.  Finally, seeking mentorship is something that I have always encouraged in young legal professionals. As much as a tennis player needs coaching to win a grand slam any legal professional should seek mentorship over career and personal development which I think is sometimes overlooked in the legal space.

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