Agency and trust director | Citibanamex
Mariel Cabanas Suárez
Agency and trust director | Citibanamex
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?
As general counsel, in 2015, I was responsible for creating and implementing the strategy of the company that I worked for, to meet with the highest standards of corporate governance with a very low budget. With my passion for the subject and with the support of the IT department, we were able to develop an in-house platform transforming how the company manages its governance and compliance processes.
With this platform, we implemented and monitored best corporate practices, such as automated processes, streamlined data collection, and improved secure communication between the board members and the management. This enabled us to increase productivity and accuracy while reducing costs.
It resulted in high-impact transformation of the group´s governance practices, as recognised by the shareholders, regulators, and several other entities, such as the IFC Latin America Companies Circle, a group of Latin America companies who have adopted best corporate practices.
Can you foresee any key developments to the way general counsel work over the next five years?
As a lawyer working for a business (agency and trust) in a financial institution, I find it imperative that the general counsel speaks the business language, adopting the culture of the company regarding risk appetite, embracing KPIs, as part of the Legal team shared targets. A general counsel will be a real business partner when its opinion is taken, not only for his/her legal guardian role, but also for his/her strategic thinking and business-driven contributions.
I believe the CEO’s most sought-after quality in a general counsel is to have a business partner that can manage legal and compliance risk at the minimum. No artificial intelligence will be able to provide that any time soon.
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?
Since the beginning of my career, I had the opportunity to find a mentor who believed in my potential and encouraged me to seek more responsibilities to climb in the corporate ladder to decision-making positions.
My mentor’s companionship made a significant difference in my development and growth, both, personally and professionally.
That is why as a member of the Citibanamex Women’s Council, and co-chair of the Networking Initiative, I have collaborated in the design and implementation of the mentoring program. It is my view that mentoring increases the visibility of women role models, inspiring young women along their careers.
What is a cause, business-related or otherwise, you are passionate about, and why?
Women empowerment is my passion. It has been proven that companies that support women’s leadership and commit to gender equality typically outperform their competitors. Unfortunately, in the Mexican legal profession, diversity and inclusion have not been a priority in the agenda, especially within the law firms.
That´s why in 2014 I co-founded Abogadas MX aiming to support women’s advancement in the legal profession. In 2019 I was elected President for the term 2020-2022. Today, Abogadas MX has consolidated a network of more than 2500 lawyers who support our mission. After 8 generations, the mentoring program has benefited 1000+ participants, and we have developed other initiatives like the Leadership Workshop and developed a network of 40,000 followers in our different social media networks.
General counsel | Gentera (Banco Compartamos)
Founded in 1990, Gentera (listed in the Mexican Stock Exchange) and its nine subsidiaries (Banco Compartamos, being one of them) represent the largest microfinance service provider in Latin America, leader...