Team size: 11 

First, can you please give us an idea of the sort of work your team has done recently? 

We have structured the legal and compliance vice presidency into two large divisions: the compliance area that ensures all aspects of regulatory compliance and the application of law controls against money laundering and terrorist financing. This team recently designed and implemented the PLAFT measurement automation and update program. With this we manage to make processes more efficient and speed up response times to the areas. Also, the legal area, which in turn is subdivided into three teams. Two teams that are dedicated to each of the group’s companies and a third team dedicated to corporate support.

As a result of a corporate restructuring at the beginning of 2022, and to make our processes more efficient, we divided the legal structure, assigning a team to each of the companies. In this way we guarantee focused and specialized attention on the necessary issues for each of them. These teams worked to design the necessary strategy to accompany and support the initiatives defined by the companies. 

The corporate affairs team, in line with good practices, has been responsible for defining and implementing the group’s corporate governance program. 

How do you stay up-to-date with changes in laws and regulations in the Dominican Republic relevant to your organisation’s industry? 

From my position, being up to date with legal and regulatory changes is fundamental and critical when making informed decisions, so that the interests of our group and stakeholders are protected, always maintaining the fundamental objective of guaranteeing compliance with current regulations.

Given that our group operates in two regulated environments, social security and the insurance sector, it is of utmost importance to constantly monitor official sources and regulatory bodies in our sectors. This permanent monitoring allows us to timely detect relevant regulatory changes. Once an instruction or rule is identified, the legal team analyses how it could affect our operations and the adjustments that may be necessary in the different areas of the organisation. We have structured the team of lawyers of the legal and compliance vice presidency so that each of the companies in our group has a team of lawyers dedicated 100% to said company, with this we guarantee a focus on the specific regulation of the sector in question. , and a team focused on regulatory compliance issues to guarantee the effective application of the necessary controls established in the regulation.

Likewise, we have the advice of external law offices who are experts in the regulations in which our companies operate, who support and guide us on changes in laws and regulations that impact us. We carry out permanent monitoring and evaluation of our internal policies and procedures so that we guarantee they are in line with or aligned with current regulations, which is why it is necessary to work hand in hand with the other areas of the companies to, on the one hand, informing them and raising awareness about the necessary changes, on the other hand, guiding them on the necessary modifications to the policies and procedures for due compliance with current legislation.

It is very important to participate in professional networks and associations that are related to our sectors, which provide an excellent space for discussion and sharing relevant information on regulatory changes and developments. Belonging to the unions that bring together the companies that make up our sector is also an enriching space to share and discuss updated information on the specific regulations that affect the sector.

Updating knowledge is extremely important, which is why I encourage the training of our internal team on cutting-edge legal issues so that we can stay informed and adapt to regulatory changes in an effective and timely manner. 

What is a cause, business related or otherwise, that you care about, and why? 

Specialisation of the judicial system is fundamental, we have certainly made a lot of progress in that sense, however, there is still a long way to go. If we focus on social security, we can conclude that training is very necessary not only in the judicial system, but in citizens in general. There is a profound lack of knowledge that generates confusion that is detrimental to the citizen himself, who is not clear about what his rights are, but neither are his duties.

With a complex regulation such as social security, a judicial system is necessary that guarantees that judges have the necessary and updated knowledge and expertise of these regulations so that their decisions can be fair. We cannot ignore the fact that these decisions impact people’s quality of life. It is precisely for this last reason that it is of utmost importance that the ruling be fair and in accordance with the regulations, since the survival of the Social Security System itself will depend on it.

A trained, educated, and specialised Judicial System can avoid greater conflicts and inequalities in decisions and can help ensure that the legal interpretations of the regulations in question are precise and consistent.