Legal manager | IAM Asset Management
Flavia María Abusada Chehade
Legal manager | IAM Asset Management
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?
Managing legal aspects during periods of instability or crises involves understanding the problem’s source in all its dimensions, and not only from a legal point of view. My strategy consists of working alongside the core business to align all the company’s interests in the moment of crisis. The legal department works for the permanence of the business and does not add additional problems when in crisis. It is mandatory to identify the risks of the business beforehand and crises guidelines.
Regarding the legal strategy, focusing on the strengths of the business is the centre of the organisation´s resilience. The role of legal is to cooperate with the board of directors or general manager to establish the risk the company is willing to undertake.
What emerging technologies do you see as having the most significant impact on the legal profession in the near future, and how do you stay updated on these developments?
Technology in a globalised era is much more than simple access to the internet and computers. Nowadays, AI is the main emerging technology, and the legal profession shall not be the exception when it comes to incorporate that in the scope of tools that can be used to deal with the problems that legal practitioners work with. In that sense, AI has stirred the market in a way that lawyers must adapt to such technologies.
AI was first seen as an enemy of the legal profession since it was thought to “replace” lawyers’ practice. AI used in a correct way – not to substitute legal opinion – such in the automatization of reports or data, can help lawyers to focus on the solutions to problems and invest less time on administrative matters. Being that such developments as AI are recent and in constant change, the new information is obtained via news, webinars, courses, and networking with other peers.
In your opinion, what are the main trends that are salient in your country currently?
The main trends that I consider salient in Peru are basically legal and business based. Regarding legal aspects, I consider that the core of the discussion is now focused on legal ops, legal management, and design thinking. These three “new” aspects are part of one big trend: the modernisation of the legal profession and the role of in-house lawyers. Lawyers are required to be up to date regarding new trends which improve the advice given to the company.
Likewise, following a business-based point of view, companies are seen as the centre of decisions and contribute to the growth of society, in opposition to the belief that their only function is to make money. Legal is now seen as business partner and not only for reactive counselling.