Federico Santos Cernuda – GC Powerlist
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Mexico 2023

Financials

Federico Santos Cernuda

Legal director for Mexico and Hispanic Latam | PayPal

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Mexico 2023

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Federico Santos Cernuda

Legal director for Mexico and Hispanic Latam | PayPal

Team size: Three

Major legal advisers: White and Case. Creel, García Cuéllar, Aiza y Enríquez. PBP Abogados. Latam. Baker and McKenzie

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?

While we understand that innovation involves the use of technological and digital tools, in this case, and because we have a small team, the approach we have adopted is a pre-technology approach. Adopting digital tools in a global company could take a long time, which is why we have decided to work on two fundamental axes; focus on the customer and be effective.

The customer focus has led us to prioritise and work holistically with both the areas we support and with the other areas of support, identifying and prioritising issues of greatest relevance that have the greatest impact on the business. It is informed decision making.

To be more effective and achieve company goals, we translated and revisited processes to make them more functional; eliminating barriers and steps that do not add value to the process itself, optimising existing resources. This endeavour was supported by technological platforms to measure results.

Although it seems intuitive and non-innovative in my experience, it is not very common in the field of legal advice.

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

We must understand as lawyers that AI has not come to replace us but serve as a tool that will be very useful to facilitate our work. Knowing how to use AI for decision making will be fundamental; It will be an extremely useful research and prediction tool that will help us to be more assertive and faster in the development of our work.

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?

I believe that the legal department is one of the fundamental pillars in the creation and implementation of ESG policies since they imply a transversal understanding that lawyers possess. The robustness of governance is a very important pillar in the implementation of ESG principles and lawyers have extensive expertise in it.

How would you assess the impact of new technologies on the legal landscape in Mexico, and what measures would you propose to leverage these technologies while ensuring compliance with relevant laws and regulations?

The digital system is transforming the way of doing business in Mexico, and as lawyers we must be the main promoters of change. The evolution of the legal function and the resulting adoption of digital tools serves as a great example within companies; hence, the legal area must be a promoter of cultural change, highlighting the advantages they in information analysis, decision making and output measurements.

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?

For me, diversity is vital. In PayPal. it is taken very seriously. We have teams that oversee the employee resource groups that are responsible for championing these principles, such as Diversity, Inclusion, Allies and Pride, to name a few. For me, it means accepting and adopting different points of view and different visions to enrich the business; we do not seek to have a single understanding but an equal level of respect.

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

The analysis of processes is a vital issue in any company, I would say that it is a system of veins that make the blood run and reach all necessary areas. I am particularly passionate about finding new and better ways to interact between various teams.

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