BEC Financial Technologies – GC Powerlist
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Denmark Teams 2023

Information technology

BEC Financial Technologies

| BEC (Bankernes EDB Central)

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Denmark Teams 2023

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BEC (Bankernes EDB Central)

Team size: 18

Can you give an idea of the most significant cases or transactions that your legal team has recently been involved in?

The Legal and Compliance team deals with all matters which could have a legal impact. Thus, we advise on and have established procedures for entering into customer agreements, supplier agreements and other types of cooperation agreements. We advise on legislation impacting BEC and have established policies, procedures, and guidelines supporting compliance. We participate in recommending our management, including BoD, on strategic matters and in general, we are considered a trusted advisor across the company. The team is responsible for ensuring that BEC is in control of its outsourcing arrangements, such as specific legislation impacting the financial sector concerning this. Furthermore, the team is responsible for BEC being compliant with GDPR.

What can law firms do to improve their service to the legal department?

First – understand the client’s business and the sector the client is operating in – it is simple, yet it seems complicated for many.

Second – be a trusted advisor – do not stick to the legal stuff – be an active sparring partner for your client, lending an ear and some good advice on the overall considerations.

Thirdly – assist the client with the process the client is going through – the advisor has probably done it many times – maybe it is a first for the client.

If you had to give advice to an aspiring in-house lawyer or general counsel, what would it be and why?

Respect the business – understand that you exist to support that the organisation can do business effectively and sustainably. Long-term sustainable business implies that the company has to be (risk-based) compliant, making the business understand and respect that.

Be a generally trusted advisor to the business and their sparring partner on business matters. Work efficiently – always keep the goal in mind; be clear on tasks, roles and responsibilities of the parties involved – and deliver on the agreed time.

Give and seek feedback – a great way of learning and growing.

Build your relations within the legal team and towards the business on trust and confidence in each other. Love your work, and make sure you work in a company that makes you proud – and do only what you are proud of.

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