Team size: 18

Major legal advisers: Gomez Pinzon (GPA), Posse Herrera & Ruiz (PHR), Baker & Mckenzie, Brigard & Urrutia

Could you share an example of a time when you came up with an innovation that improved how your legal team works and did not come at a large expense?

During the first quarter of 2023, we implemented new contracts based on legal design. This way of drafting new contracts has allowed us to be more efficient in terms of addressing a better contract for clients to improve their understanding but always measuring and lowering the legal risk of the company. Alongside this process, we have been using a new technological tool to draft contracts (based on the master agreements that were the result of the legal design process) in real time and online with our counterparties and clients. The above has reduced the time used by the members of the legal team in drafting contracts and structuring new legal schemes for the Credicorp group’s three Colombian regulated companies that we render our legal services to.

Can you foresee any key developments to the way general counsel work over the next five years?

The new technological tools that have been developed for not only in-house legal teams but also for legal firms that provide legal advice will change the way that in-house lawyers work within the next five years. New tools that allow us to carry out faster searches to draft more efficient and accurate legal advice are necessary for all lawyers, regardless of whether they are part of an internal legal department or they render legal services.

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?

Since 2020, we have had a sustainability strategy focusing on two purposes. The first purpose is based on business initiatives. We aim for responsible investments for the clients, pursuing ESG criteria in fields such as capital markets and asset management. The second purpose is to implement corporate initiatives such as gender equality. The general counsel has a significant role in the compliance of these targets in order to ensure compliance with the local legal framework to generate a good trade-off between the goals proposed and the contractual set up.

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?

We have set up a selection process based on diversity of gender, legal experience, fields of expertise, and age. From this selection process, we have built a group of 17 lawyers with different backgrounds and years of experience to have a balanced legal team. Actually, my direct reports are women (we are 11 women out of 17 members) which have been trained to be the general counsel candidate in case I leave the position. At Credicorp Capital we have a corporate policy that aims to be prepared for the future of their employees, including the legal department.