Team Size: 38 

Firstly, can you give us an idea of the type of work your team has done recently? 

My team has worked on several important projects recently, in various financial markets, in which some of the BHD Financial Centre’s entities operate. This includes the incorporation, processing, and licensing by the Central Bank of the first two companies authorised to operate as electronic payment institutions (EPEs) and payment aggregators in the country. We have also worked on the review of the legal and regulatory structuring, together with a team of external lawyers and our securities brokerage office, of the first public offering of shares of a private company in the country. Thirdly, we have worked on the review of the structuring from a legal and regulatory point of view, together with external lawyers and our stockbroking office, of the second public offering of shares of a private company in the country. 

My team has also been involved in the review and proposal of improvements to various regulations and draft laws, the reduction and management of contentious files, achieving a significant reduction in the Bank’s provisions, and the project management for the launch of a chatbot for banks, especially retail banking.  

Recently, we have also been involved in the drafting and discussion of more than 500 software licensing and acquisition contracts for the purpose of the Bank’s digital transformation project, the creation, modification and adaptation of new and existing product and service contracts in connection with the enactment of new laws and regulations affecting the business. Finally, we have been responsible for the processing and closing of files and acquisition of assets for the Bank’s and the fund manager’s closed-end funds.
 

How do you keep up to date with changes in laws and regulations relevant to your organisation’s industry? 

I frequently study the new laws, regulations, circulars, and norms as they are constantly changing and being updated, not only in the Dominican Republic, across the financial markets of many countries. This allows me to make an evaluation and comparison of the laws across the region. I also participate in significant academic and congressional activities in Latin America. I aim to stay up to date on the research surrounding best practices and developments in the most innovative and advanced countries on issues that impact the organisation’s operation. I keep up to date with the jurisprudence issued by international courts and tribunals in Latin American and Europe, with a special emphasis on the rights of the financial services user, consumer protection, and data and privacy.
 

What is one cause, business related or otherwise, that concerns you and why? 

I am particularly concerned about regulation in regard to the digital transformation of financial operations, it is clear that the judiciary, supervisors, regulators, and prosecutors do not have the required level of knowledge or understanding that digitalisation, the use of robotics, and AI are an inevitable process. Users are increasingly demanding more virtual services to be provided over their devices as it far more convenient.  

Current regulation is lagging far behind innovation and advances in the private sector, and we are seeing that our employees and other collaborators are demanding to be hired under a hybrid working model with options for remote and in-office workdays, and the younger workforce are demanding a completely remote or virtual work model. These changes have revolutionised recruitment, and it has bought challenges as well as huge opportunities, it allows recruitment to fill positions with staff from across the world regardless of the potential employee’s residence.