How has your role as in-house counsel evolved over the past few years, particularly in response to shifting global or regional dynamics?

During my 21 years leading the Bank’s Legal Department, not only has the financial industry transformed, seeking to serve the market with more digital services, but also regulators—both consumer and banking regulators and Congress itself—have overregulated the industry, occupying previously defined spaces for business autonomy. All these forces legal counsel to live in constant transformation to expand their capabilities and keep pace with the commercial whirlwind and the ever-changing rules of the game. Legal counsel must promote the creation of secure businesses within the law, in an increasingly dynamic environment where the time for analysis and decision-making is constantly shrinking.

Can you describe a time when legal had to balance risk mitigation with enabling business innovation?

I believe the pursuit of this balance is a constant in the role of legal counsel; however, if I had to point to a time when the challenges were greatest, I could mention the years of the pandemic, when banking, an essential service for the country’s development, had to abruptly transform the way it conducted its business. At that time, the challenges were daily, not only because of the difficult circumstances but because we were constantly facing new operational risks, and legal counsel held a key position to mitigate them.

How do you build and maintain strong relationships with key internal stakeholders, especially in high-pressure or fast-moving scenarios?

The role of the legal advisor is to align corporate commercial appetite with regulatory compliance, always seeking the “how-if-it-can-be” approach. In high-pressure situations, we must emphasise that we are all working toward the same goal: the long-term sustainability of the business. An example is the use of artificial intelligence, which, while bringing enormous commercial opportunities, also entails significant challenges associated with, for example, the obligation to protect personal data. The legal advisor must always strive to support the company, while fostering a culture of ethics and compliance focused on business.

How do you cultivate legal talent internally, and what skills do you see as most essential for the next generation of in-house lawyers?

Part of our obligations as legal department leaders is to ensure our teams develop in an environment of continuous improvement, encouraging them to acquire not only academic knowledge but also to become better professionals through experience. Sharing and exchanging roles, involving different members in the various problems they face, and turning each advisor into a driver of internal knowledge is key to this goal. A solid legal knowledge base, problem-solving skills, and also mastery of legal technology and business acumen are part of the skillset of the next generation of in-house counsel.

What measures has your company taken to embed sustainability practices into its core business operations, and how does the role of the general counsel contribute to driving and ensuring sustainable practices within the company?

In the banking industry, integrating sustainability practices is essential to ensure long-term business sustainability. The pursuit of a balance between profitability and environmental stewardship and social well-being is today a driving force behind the sense of pride that every company must strive for, not only in its employees but also in its various stakeholders. Legal counsel is not only a part of this pursuit; on the contrary, they must become key players in this endeavor. Responsible financing policies, prioritising relationships with inclusive companies, and environmental improvement, among others, are part of the implemented practices, with the counsel participating in their design as a guardian of compliance.