Team size:  15 

How do you approach managing legal aspects during periods of instability or crises, and how does your legal strategy align with the broader business strategy to ensure the organisation’s resilience?  

Handling legal aspects is an integral part of managing a crisis or periods of instability, as it helps minimise negative impacts and seize opportunities. As a legal team, we support the organisation in identifying the applicable legal framework and conduct an assessment of the obligations and rights legally and contractually acquired by the organisation. We consult with law firms and experienced advisors in the field and contribute to identifying legal risks. Furthermore, we participate in the development of crisis response protocols. These protocols are aligned with the business strategy and aim to promote business continuity, considering the impact of the crisis on different stakeholders. 

Supported by our corporate governance, we ensure an adequate flow of accurate and reliable information for all key stakeholders in their decision-making process. Above all, we maintain an ethical and responsible approach, ensuring that legal decisions contribute to the long-term sustainability of the company. 

What are the main cases or transactions you have been involved in recently?   

As legal director of corporate affairs, I have contributed to the proper functioning and strengthening of corporate governance within my organisation. In collaboration with my team, we have provided crucial support to the board of directors in making strategic decisions. Furthermore, during 2024, we revised our corporate governance documents, incorporating industry’s best practices. Additionally, we successfully prepared and published the annual report and the 20-F for the year ending in 2023, effectively incorporating disclosures on environmental, social, and governance matters. 

In 2023, with the significant contributions of my team, we were recognised as the most sustainable bank in Colombia according to the Dow Jones Sustainability Index. Furthermore, my team’s efforts enabled the organisation to successfully renew the Investors Relation recognition and secure first place in the ranking of local issuers for leadership in adopting information disclosure standards in the market. Additionally, we were admitted as members of the Colombian Institute of Corporate Governance, thereby contributing to the advancement of good corporate governance practices as a cornerstone of institutional sustainability. 

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?   

Our company’s purpose is to promote sustainable development to achieve the well-being of everyone. We work to strengthen the productive network, develop sustainable cities, and promote financial inclusion. Through our financial activity, we have the ambition to mobilize resources for initiatives that materialize our purpose and that contribute to the United Nations Sustainable Development Goals. In Colombia, we are committed to mobilising approximately $125bn through financial services by 2030, which will be oriented towards various initiatives as the strengthening of agriculture, low-carbon mobility, access to housing, financial inclusion and women’s entrepreneurship. In 2023, we disbursed more than $9bn.  

The role of the legal department is crucial in achieving this purpose. In addition to contributing to the implementation of products aimed at meeting our environmental and social goals, we provide counsel regarding adherence to new ESG protocols and commitments. We also oversee the governance framework on ESG issues and advise on the disclosure of the ESG strategy. Furthermore, we monitor regulatory initiatives concerning ESG issues, particularly in Colombia and the United States, analysing their potential impact on our operations. 

What emerging technologies do you see as having the most significant impact on the legal profession soon, and how do you stay updated on these developments?   

Artificial intelligence, the adoption of chatbots, and virtual assistants are revolutionising the way legal services are delivered, freeing up lawyers’ time and allowing us to focus on more complex and strategic aspects. Additionally, collaborative work tools enable us to work more efficiently and create reports more effectively. Likewise, legal design has transformed the way we communicate with our clients, bringing the law closer to everyday language and making it easier to understand. 

We stay updated on these developments thanks to the formation of a multidisciplinary team in the legal department responsible for understanding, interacting with, and adopting these emerging technologies. This team comprises lawyers, engineers, designers, and other professionals, which educate and support the rest of the legal department in adopting these technologies.