Team size: seven  

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

Over the past few months, my legal team has been diligently focused on supporting bank99’s rapid growth and innovation in the financial sector. As a new player in the market, bank99 has been consistently introducing new banking products and services to meet the evolving needs of its customers. In line with this, my department has played a crucial role in ensuring compliance with banking regulatory requirements and safeguarding the Bank’s interests in these endeavors.  

Key areas for the legal department include:  

Product development and compliance: My legal team has been heavily involved in the development and launch of new banking products and services, ranging from digital payment solutions to investment products. They have worked closely with product development teams to ensure that these offerings comply with all relevant laws and regulations, mitigating any potential legal risks.  

Regulatory compliance: With the financial industry subject to stringent regulatory oversight, ensuring compliance with various regulatory frameworks is paramount. My legal team has been actively monitoring changes in financial regulations and adapting the bank’s operations and policies accordingly. This involves conducting thorough legal reviews, drafting compliance documentation, and implementing internal controls to maintain regulatory compliance across all areas of the Bank’s operations.  

Contract negotiation: My legal team has been instrumental in negotiating contracts with third-party vendors, partners, and service providers. By carefully reviewing and negotiating contractual terms, they aim to protect the bank’s interests, while fostering beneficial business relationships. Additionally, my team has been actively involved in assessing and managing legal risks associated with new business initiatives and partnerships.  

Litigation and dispute resolution: In the event of legal disputes or litigation, my team has been responsible for representing the bank’s interests and resolving disputes through negotiation, mediation, or litigation when necessary. We work closely with our external counsel and stakeholders to efficiently resolve legal matters and mitigate potential financial and reputational risks to the bank.  

How does your legal strategy change during periods of instability or uncertainty?  

In such situations, it is very important for my role to transparently explain all possible legal risks to the people who bear the risks. It is very important to present, if possible, several options and to explain, in detail, the option that carries with it the least legal risks and can still meet the bank’s desired goals.  

Do you make use of any ‘legal tech’ products, and if so, for which areas of your job do you find it most useful?  

In our pursuit to streamline and enhance our legal operations, we have embraced cutting-edge legal technology solutions to manage contracts efficiently and ensure compliance with various obligations, particularly those outlined in the General Data Protection Regulation (GDPR).  

For contract management, we have integrated legal tech products that offer robust features for tracking contracts throughout their lifecycle. These platforms provide us with centralised repositories for storing contracts, facilitating easy access and retrieval when needed. With automated reminders and notifications, we can stay ahead of key dates, such as renewal or termination deadlines, ensuring that contractual obligations are met in a timely manner.  

Furthermore, in adherence to the stringent requirements of GDPR, we leverage legal tech tools tailored specifically for data privacy and protection. These solutions assist us in managing data subject requests, conducting data protection impact assessments (DPIAs), and maintaining comprehensive records of processing activities.