Juan Diego Arauz Arango
Legal Director
Banco Azteca Panamá S.A.

What measures has your company taken to embed sustainability practices into its core business operations, and how does the role of the general counsel contribute to driving and ensuring sustainable practices within the company?

Over the past year, I have had the opportunity to lead a significant initiative within our team; the project involved developing a new producto in the Bank. It was especially challenging because we had to work with tight deadlines, coordinating across multiple teams, and handling a major technical hurdle. What I am most proud of is how the team navigated these challenges, working collaboratively to deliver results that not only met but exceeded expectations. The initiative has had a substantial impact on customer satisfaction, efficiency improvements, and I’m proud of the role my team played in driving this success.

How do you prioritise diversity and inclusion within your legal department, and what initiatives have you implemented to foster a more inclusive and equitable work environment?

As Legal director, I play a key role in ensuring that our diversity and inclusion initiatives are not only aligned with the company’s values but are also integrated into our legal strategy. This includes making sure that our vendor selection processes, contracts, and external partnerships reflect our commitment to diversity, as well as encouraging diverse legal representation in our external counsel network. My role also involves advocating for D&I within the executive team and helping to embed these priorities into our overall corporate governance.

In your opinion, what are the main trends that are salient in your country currently (these can be legal, political, economy or business-based)?

Panama has historically struggled with issues of corruption and transparency, but recent years have seen efforts to improve corporate governance and reduce corruption. Panama has strengthened its anti-money laundering (AML) and Know Your Customer (KYC) requirements, partly due to international pressure to improve its financial sector’s reputation, especially in the wake of the Panama Papers scandal. International cooperation is also growing. Panama has made strides in signing treaties with other countries on tax information exchange and working to meet OECD standards, with an emphasis on improving transparency in financial transactions.