CLO | Heder Bank
Birte Thorsnes Øygard
CLO | Heder Bank
What are the key projects that you have been involved in over the past 12 months?
Over the past year, I transitioned into the role of Chief Legal Officer at Heder Bank. Heder Bank is a relaunch and rebranding of the former MyBank, involving a new strategic direction, product offering, and customer focus. My responsibilities have spanned two distinct workstreams:
Legacy portfolio management: Overseeing the wind-down of MyBank’s legacy operations, including reorganisation, divestments, and the closure of outdated or non-strategic portfolios.
Strategic and legal leadership in the relaunch: Contributing to the bank’s new foundation as part of the startup team. This includes legal advisory for the board of directors, structuring capital increases, supporting new shareholder agreements, and ensuring compliance in all aspects of the bank’s new operations and financing strategy.
What do you think are the most important attributes for a modern in-house counsel to possess?
I believe pragmatism is one of the most important qualities for a successful in-house counsel. While legal training often emphasises identifying risks and analysing issues in depth, I challenge myself to shift that mindset—focusing instead on finding practical, efficient, and compliant solutions that support the business. Creativity and adaptability are key to balancing legal integrity with commercial goals.
Equally important is recognising the value of collaboration. No one can be an expert in everything, so maintaining a strong professional network and trusted relationships with external legal advisors is essential. This ensures access to the right expertise when needed and helps in delivering high-quality, business-oriented legal support.
What is a cause, business or otherwise, that you are passionate about?
Having a sense of purpose is, in my view, essential – both personally and professionally. I’ve always been passionate about standing up for others and advocating for what’s right. This conviction is what led me to study law in the first place. During my studies, I was actively involved with Amnesty International and worked as a public defender, experiences that deepened my commitment to justice and fairness.
That same drive is what motivated my move to Heder Bank. We are challenging a long-standing imbalance in the Norwegian banking sector. Historically, low-risk customers have seen little reward for their financial discipline and have, in effect, subsidised higher-risk segments. At Heder Bank, we’re addressing that inequity by introducing competition, transparency, and fairness—backed by modern technology and innovative solutions. Being part of this transformation is both professionally fulfilling and personally motivating.
Based on your experiences in the past year, are there any trends in the legal or business world that you are keeping an eye on, of which you think other in-house lawyers should be mindful?
In-house counsel needs to be prepared not just to manage ESG-related risk, but to actively support sustainable business practices through policy, governance, and strategic advice.
In the banking sector, we’re seeing growing regulatory pressure around responsible lending, customer fairness, and ethical data use.
At Heder Bank, this has been especially relevant as we seek to challenge an outdated market structure and promote fairness by serving financially responsible customers who have traditionally been underserved. Ensuring that our products, communications, and operations align with ESG values is both a legal and moral imperative.
Another major trend is the need for legal teams to be involved earlier in digital and Technological developments. In today’s rapidly evolving business landscape, the intersection of technology, artificial intelligence (AI), and increasingly stringent regulations presents both challenges and opportunities for in-house lawyers. As businesses move at an ever-faster pace, legal professionals must not only keep up but also proactively guide their organisations through complex regulatory frameworks while enabling innovation and agility.
Finally, the in-house legal role is evolving into that of a cross-functional advisor, increasingly responsible for aligning business objectives with societal expectations. It’s a shift that requires agility, commercial awareness, and a strong values compass.