Margarita Llorente Carreño – GC Powerlist
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Colombia 2023

Industrials and real estate

Margarita Llorente Carreño

Vice president of corporate affairs, legal affairs and sustainability | Amarilo

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Colombia 2023

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Margarita Llorente Carreño

Vice president of corporate affairs, legal affairs and sustainability | Amarilo

Team size: 30

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?

Innovation is not always technology related; it is also about people and processes. Therefore, when facing any challenge there is infinite room to innovate – revisiting processes to identify risks or potential efficiencies and implement applicable measures.

I believe the Covid-19 pandemic pushed us faster towards innovation. For instance, there was a critical need to continue with the company’s activities and have all contracts and documents through a valid electronic system. This led to the implementation of a revised process for the execution of all company’s contracts (with suppliers and clients) using electronic signature platforms. This also led to minimising the use of paper, a positive side effect of the revised process.

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

I believe the position of a general counsel has been evolving towards a more integral role with mixed skills that go from solving complex legal issues to being a key partner and integrator at the C-suite level, with responsibilities including a wide range of organisational matters.

To be successful, soft skills are critical. You must show a collaborative and empathic approach and encourage your team to develop these as this will allow any member of the legal team become a true business partner for your internal clients from core areas of the company. Thus, anyone aiming to become a general counsel must bear in mind that not only should you have legal knowledge and capacity to assess and handle legal issues but also know how to build networks and collaborative relations with colleagues in other areas of the company.

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?

Sustainability, in all its three dimensions (social, economic, and environmental), is the basis of the company’s purpose and pillars. I would say that in today’s world, sustainability is not an option, it is a must.

The company has been working on completing periodic materiality assessments and defining its sustainability strategy and goals. As head of the sustainability team, I have witnessed how this strategy and goals have become a key part of the company’s culture and it is satisfying to see how teams are able to progressively reach a better understanding of their goals and how these connect with those from other areas, bringing an integral view of the company and the positive impact sought in connection with various SDG.

What challenges have you encountered in implementing effective risk management practices, and how have you overcome them?

I constantly seek proactive approaches to mitigate or avoid risks. The challenge for any human being is that we tend to be more reactive than proactive. Therefore, when embarking in a risk assessment and risk management implementation practice, the challenge is to get all areas involved and committed to the process, understanding the benefits of the preventive approach in order to avoid adverse consequences, not only from an economic and legal standpoint but also for the company’s reputation.

Once the assessment and risk control and mitigation measures are implemented, it is crucial to motivate teams to internalise these and apply them every day. Monitoring systems or periodic follow ups also help in reaching the goals of risk management.

What is a cause, business-related or otherwise, you are passionate about, and why?

From my position, I have had the opportunity to internalise and deepen the company’s purpose of transforming the lives of thousands of families in Colombia through projects with unique characteristics that offer well-being, which in the long run, will bring positive social changes, building empowered communities in which natural leaderships arise. This purpose encourages me every day to work with passion and dedication, contributing to building a better country.

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