Team size: 24

Can you please give us an idea of the sort of work your team has done recently (cases, transactions, projects)?

The legal department at Odeabank oversees the legal side of all the projects we are involved in. Additionally, in-house counsel are responsible for drafting, negotiating, and concluding contracts for all kinds of banking products and services and agreements aimed at procuring goods and services. It provides timely, effective, and objective legal support and consultancy for all the activities Odeabank is involved in, both in the headquarters and branch organisations; it assists in settling disputes, follows up on lawsuits, and manages the collection process non-performing loans. Furthermore, the legal department supervises and guides the corporate secretariat of the bank.

Which recent political, economic, or regulatory changes have impacted the company and the team the most?

I believe that the remote approach to work and services has most impacted our bank. Regulation and opening accounts from a distance influenced customer satisfaction, which represented a significant challenge in a competitive environment such as the banking sector. Additionally, continuously changing legislation has required meticulous scrutiny from our legal team that had the duty to inform the business concerning legal requirements when launching new products. The proximity between the in-house legal team and the company is necessary in order to guide and support the business in its ventures.

In a changing financial landscape, how does the company remain competitive against new phenomena such as fintech and blockchain, and how does the legal team assist with this?

Digitalisation is undoubtedly the hottest topic in the banking sector. The in-house legal team, also having an executive role, must guide the business and provide it with the suitable instruments to be prepared to face ongoing changes in short timeframes.