Alexandra Payne – GC Powerlist
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Rising Stars Australia 2022

Financials

Alexandra Payne

Senior legal counsel | Plenti

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Rising Stars Australia 2022

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Alexandra Payne

Senior legal counsel | Plenti

Could you tell us a bit about your significant successes in your role?

Plenti is continuing to experience significant growth following its IPO in 2020, with a focus from a legal perspective on developing the depth and sophistication of our risk and compliance systems and controls. I have a particular interest in enterprise risk management and operational resilience, so it has been rewarding to share that experience with my team and the business as we implement risk management and compliance systems that will continue to be efficient and effective when we are double our current size.

In your opinion, what are the qualities and skills needed to form a strong legal team?

The most effective legal teams are those that become an integral part of the business – a partner and enabler rather than a gatekeeper or roadblock. Achieving that position within an organisation is challenging; it requires that the legal team establish strong working relationships both internally and with all stakeholders across the business. In-house counsel must be commercial, agile and efficient, with excellent communication and stakeholder management skills. It is also critical that we understand the business and its systems so that we can spot issues and effectively calibrate and manage risk.

What is the biggest risk to your industry, and how are you contributing to prepare your organisation for this?

It goes without saying that the economic pressures in Australia and globally present significant challenges to the financial services industry from all angles, but those pressures are particularly acute in terms of balancing margins with competitive products, and in recruiting and retaining quality talent. As a business Plenti has so much to offer its customers, so as a legal team we are integrating ourselves into the businesses existing operational processes and new initiatives so that we can help drive and support the delivery of market leading customer outcomes. I take a holistic view of the legal team’s involvement – there is no reason we cannot suggest efficiencies and operational improvements just because we’re there to give the legal signoff.

I am also keen to ensure that Plenti continues to be a great place to work, so I make sure I set aside time to contribute to our culture through mentoring more junior team members both within and outside the legal team and being involved in social and responsibility initiatives that reflect who we are as an organisation.

What challenges have you overcome to get to the position you are in today?

Many – but the biggest has been believing I had the skillset to be effective in an in-house role!

Coming from a regulatory disputes background in private practice there were a few raised eyebrows when I took a wide-ranging role at Plenti, but my time in-house has demonstrated that a solid private practice grounding provides invaluable and highly transferrable skills that will translate well into a more general role. The disputes background has also proved helpful whenever someone needs a strongly worded letter.

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