Canadian Lawyer InHouse

16 www.canadianlawyermag.com/inhouse SPECIAL REPORT IN OUR VIEW 2020 COVER STORY, we explore the new initiatives that general counsel from two very different organizations are working on as they embark on a new year of challenges and ambitious goals. We discuss the different ways in which they choose to work with external counsel partners and how they lead their teams in supporting the entire organization. We also examine how they plan to deal with risk management and compliance issues in the year ahead. Compliance is a critical component of the operations at Canadian Western Bank and at VIA Rail Canada Inc. as both organizations focus on adhering to regulations while serving customers and continuing to grow the business. "If we are not complying to laws and regulations enacted by our shareholder, it can very quickly have a negative impact on our reputation," says Jean-François Legault, chief legal and risk officer and corporate secretary at VIA Rail Canada Inc. "Also, we have to be cognizant that whenever there is an impact to our reputation, there can also be an impact to the reputation of our shareholder, the Government of Canada, so we are very much focused on compliance and managing reputational risk." advantage of new opportunities in the sector such as open banking. In the year ahead, Cudjoe plans to look at different ways to take risks to generate returns and deliver against the expectations of shareholders during challenging economic times in Alberta. Having a strong interest in the intersection of tech and law, Cudjoe is also working with her team to introduce new digital services such as document automation. "I see a great opportunity here as our organization is small enough and nimble enough and frankly poised to make changes," she says. INHOUSE: What business challenges are you anticipating in 2020? CUDJOE: As a bank headquartered in Alberta, there are tough times out there. As we live and breathe in the challenging economic circum- stances that Alberta's facing, with the oil and gas industries trying to find new footing, there are all kinds of pressures from the fact that the pipeline hasn't been built and the provincial government is changing. There's an awful lot going on in Alberta, which led to the strategic direction that the bank has had over the past couple of years, which is to diversify. Surpris- ingly, to most folks, we are fairly geographical- ly diversified, and in living up to the vision that we have to be the best bank for business owners in Canada, we are spread about 30-30-30 across B.C., Alberta and Ontario, so that geographic diversification is really important to support the business diversifica- tion that we have around retail, commercial and wealth. Additionally, the financial markets are providing challenges as well. Interest rates are really low and there is that unstable economic forecast, which is making margins difficult in banking across the board, so we feel it's going to be part of our strength to be really clear on our vision to be the best bank for business owners in Canada, and to execute against that in accordance with a strategic direction that Supporting the organization Legal leaders from Canadian Western Bank and VIA Rail discuss upcoming challenges and growth plans with Lucy Saddleton For Bindu Cudjoe, senior vice president, general counsel and corporate secretary at Canadian Western Bank, managing compli- ance is also a daily requirement. "It's who we are. Our sole purpose is to manage legal regulatory compliance and criminal risk," she says. "We are seeing more activity as the regulators get more power and have fresh mandates from the government and the public to try to bring more transparen- cy to the processes that we have." Growth is also a common theme as both organizations are embarking on new ways to provide more flexible and efficient customer service during the year ahead. Canadian Western Bank is a diversified financial services organization providing specialized service in banking, trust and wealth management. Since 1984, the organization has grown from a single branch operating in Edmonton to a western-based, federally regulated financial institution with a national presence. The bank offers full-service personal banking as well as specialty business banking services for small- and medium-sized companies. As a disruptor bank, Canadian Western Bank is always exploring new ways to meet changing consumer desires and to take

• Cover