General counsel, head of corporate risk, compliance and legal | VFS Global
Bapsy Dastur
General counsel, head of corporate risk, compliance and legal | VFS Global
Looking forward, what technological advancements do you feel will impact the role of in-house legal teams in the future the most?
Embracing digital transformation could assist forward-looking general counsel and their teams to go beyond the traditional legal, risk management and compliance role and become strategic value creators, driving economic value to the business. It is important to shift from being ‘technology-ready’ to being ‘technology-enabled’.
The role of in-house legal teams would be positively impacted by performance and risk monitoring, contract life cycle management solutions, technology solutions that provide contract automation, document management and analytics, opportunities introduced by block chain-based technologies together with new delivery models that enable the efficient and agile delivery of legal services, a more integrated and value driven role integral in the delivery of corporate strategy.
What is a cause, business related or otherwise, that you care about, and why?
I am deeply committed to ESG being integrated into a company’s strategy alongside the core drive for profit, that is, to actively and positively responsibly contribute to the environment and social causes. I care about driving a shift in operating principles to drive sustainability, conservation, and CO2 reductions together with advancing social issues such as diversity and leadership, human rights, poverty reduction, and ethical corporate governance measures that promote anti-bribery and corruption. It is important to capture all non-financial risks and opportunities in a company’s business activities.
Our world faces several global challenges such as climate change, inequality, and balancing economic needs with societal needs conscious companies, investors, regulators, employees and customers. Companies are now demanded to act responsibly as good stewards of financial capital and natural and societal capital with the necessary governance framework to support this. A collective focus would ensure that each of us contributes to improving the world, a testimony to ‘who cares wins’.
What would you say are the unique qualities required to be successful as an in-house lawyer in your industry?
Creating value with business teams, having the agility to successfully navigate rapidly evolving situations, having empathy for team members, being authentic, being an effective communicator, establishing trusted relationships with internal and external stakeholders, proactively understanding all aspects of the business, identifying, manage and mitigate risks are key. Sound legal expertise is a given. Being more than ‘just lawyers’, handling a high workload in short deadlines without ‘burnout’, and relying on new technology to improve efficiencies with a ‘creative edge’ is necessary.
What can law firms do to improve their service to the legal department?
Law firms need to fully understand their client’s business, risks and critical stakeholder interests to deliver legal advice that enables a legal department to create value for their business. With this understanding and a pragmatic as well as a creative approach, meeting what may appear to be unrealistic deadlines, a law firm would establish a sound, long-lasting relationship with its in-house counsel and be considered by a legal team as an extension of the legal department.
General counsel, head – corporate risk, compliance and legal | VFS Global
General counsel, head – corporate risk, compliance and legal | VF Worldwide Holdings
general counsel (head – legal and integrity IMA) | ABB Industries, United Arab Emirates
With an impressive in-house career spanning multiple sectors across the Middle East and Asia, Bapsy Dastur excels in her capacity to ‘hit the ground running’, both as a lawyer and...