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The legal team is structured in predetermined roles, in which each attorney has its own responsibility according to their area of expertise. Of course, team work is key. On a day-to-day basis, each member attends their area of expertise duties, and among them will attend special inquires and projects that will require a more formal study. In addition, one important role of the legal team is the support to the external firms and consultants by providing all the necessary attention in order to procure to the internal of the bank and easier and more expedite service.
Certainly, the most significant has been the implementation process after the merger with Citibank back in early July 2018. During and after the integration process due to the implementation of a new system mainly for the attention of the acquired portfolio we faced a lot of challenges that needed immediate attention and focus. The stabilisation process was definitively a challenge, but teamwork was a key to move forward. We are also currently working on an important project in Panama that will require the attention and participation of mainly all the units of the bank.
A lot of changes have been implemented and also there are some important ones to come, but definitively the most important change came into effect early July 2019, with the implementation of a Fiscal Plan that introduces the VAT. In addition, on the regulatory basis, certainly topics such as anti-money laundering, know your customer and others have become essential to conduct the business in a safer way. Nowadays, internal control and a well adherence to policies is a must in order to preserve a healthy portfolio.
Digital Initiatives and programs in order to provide our clients with a more efficient service and have a great experience with the bank. The legal team takes part in all initiatives seeking a full compliance to all regulations. Nowadays, due to all the competitors in the market and all the services that are offered to the clients, you have to differentiate from others and provide clients with a personalised and tailored service. You have to provide clients with all the different tools, in order for them to have the best experience.
The team has harnessed technology in order to simplify processes, keep track of different tasks and use time more efficiently.
Commitment, professionalism and ethical practice. This is developed with periodical internal meetings and also learning from bank’s own publications and training. All the members of the team will provide comments and suggestions in order to implement protocols or any other tool to make the day-to-day activity easier and more effective.
Since joining Scotiabank back in December 2017, I have led the legal team looking to provide internally and externally with a first class legal service. Certainly, our main goal is to protect the bank’s interests, but also to work jointly with all the units in order to achieve our operational and financial goals.
