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?

Effective legal management is crucial for organisational resilience in times of crisis, such as the one Peru is currently experiencing. To achieve this, it is necessary to align legal management with the commercial strategy, which implies fluid and constant communication between internal teams, considering risks and opportunities in strategic planning.

When it comes to legal risk management, preparation includes risk assessment, legal management planning, and ongoing monitoring. The benefits of the above include greater resilience, more informed decision-making, and reduced legal risks as well as reputation protection.

In conclusion, effective legal management aligned with business strategy is essential for survival and success during instability or crisis, requiring investment in preparation, adaptive response, and close collaboration between teams.

In your opinion, what are the main trends that are salient in your country currently?

The financial sector, in which I operate, is a very dynamic one, and one in which individuals must always be updated and aware of new developments. These developments will surely have an impact sooner or later on the regulation and supervision of financial entities. In this sense, in my opinion, there are six main trends in banking regulation in the upcoming years.

Firstly, banks will have to adapt to the changes that the development of Artificial Intelligence (AI) and other technologies will produce. Secondly, they will need to protect their systems against increasingly sophisticated cyberattacks. Thirdly, banks will have to comply with increasingly strict compliance regulations, especially those concerning the prevention of money laundering, market conduct, and data privacy.

Furthermore, there will be an increased focus on regulation to promote sustainability and ESG values. Banks will also need to ensure they have sufficient capital and liquidity to face financial shocks. Finally, they will need to share data securely with other institutions via Open Banking and Embedded Finance.