Chief legal officer and compliance officer | Grupo Sencorp
Paola Arangua Ruiz
Chief legal officer and compliance officer | Grupo Sencorp
What are the most significant cases and/or transactions that your legal team has recently been involved in?
My team and I deal with real estate project development, which is always challenging. This is due to the multidisciplinary interactions of multiple people with diverse skills sets as well as various aspects of law. Most projects contain a mix of tax, finance, real estate, employment, and consumer law elements. Sometimes even additional fields of law come into play. It is not easy to balance all these moving parts and keep conflicting interests aligned. Also, one cannot dismiss the importance of the economic cycle that varies throughout the phases of a project.
How important is choosing to work with external lawyers who align with your company’s values?
External counsel plays a critical role in the day-to-day business of a company. Several decisions are made daily and in most cases under immense time pressures. Hence, alignment amongst outside counsel and the company´s values is of critical importance.
To achieve such an alignment, certain checks must be in place. This because ultimately, final internal responsibility lies with the company´s general counsel. Experience has taught me that caution must be exercised especially when working alongside unseasoned external counsel and that it must be specifically stated that company´s values are of the utmost importance.
How do you suggest in-house lawyers build strong relationships with business partners?
I believe that honesty, transparency, and clarity about the end goals a company wishes to achieve are critical to building strong relationships. In time, for all those involved on a specific transaction, predictability is a common aspiration for all parties. No one welcomes surprises when it comes to business operations. Additionally, in an age of digital communication, human interaction is of essence when it comes to building relationships. Human interaction is mainly body language; hence, interpersonal meetings must be held if one wished to enhance bonds of trust and strong relationships.
Why are in-house lawyers well-placed to drive change in their organisations?
They have gone from being reactive profiles, who only act in cases of conflict, to being key to business operations and to the strategy of the company itself.
The regulatory framework and the pressure on regulatory compliance have made its criteria important and of immense value within companies.
Nowadays, the in-house lawyer has a strategic function, since the resolution of certain conflicts, for example, have an impact on the turnover itself. Their judgment certainly adds value and perspectives to the company’s decisions.
The in-house lawyer provides cross-cutting advice to almost all areas of the company, preventing and eliminating risks – not only economic, but also reputational impact and wear and tear of the company.
In the highly regulated world in which we find ourselves and with the existing risks they pose both in reputational and economic impact, it is important that managers have that legal sensitivity.
The in-house lawyer, in addition to having solid legal knowledge, must reference his advice within the understanding of the business. They must be dynamic and active, good managers and, above all, good team coordinators.