Legal news and trends for Canadian in-house counsel and c-suite executives
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company has — for example, it doesn't have to make extensive financial disclo- sures — in many aspects Clark plays a tra- ditional in-house role, acting as counsel for the CEO and management team. But in other aspects she plays a less traditional role. "You become a lobbyist when you're in a trade association, so a big part of my role is to advocate on behalf of the industry and work with various levels of government — provincial and federal — to push forward issues of interest to the banking industry," says Clark. She heads the association's legal com- mittee, which is composed of the general counsel of the "Big Six" Canadian banks, as well as representatives from smaller domestic and foreign banks. Together, they strategize and establish priorities for the industry. All regulations being amended or created under the Bank Act, for exam- ple, are brought to their attention before they're tabled. This includes amendments that have a significant impact on the credit card and mortgage markets. Clark also heads its security and fraud division, which deals with debit and credit card fraud, identify theft, and anti-money laundering. In this capacity, the CBA works with various levels of law enforcement and other associations to promote a national strategy to combat financial crime. Though Clark didn't start out in the banking industry, her diverse background has given her a unique perspective. During the mid-'90s, for example, she worked for the Canadian International Development Agency, helping to restructure the legal system in Guatemala. "It was somewhat successful — it's always difficult when you're an outsider to arrive in a new cul- ture, learn a new language, and then try to bring value wherever you can," says Clark. "You have to listen to the people and give them what they need as opposed to trying to impose your values and perspectives, and in that sense it was an important and humbling experience." Clark earned her undergraduate degree in Quebec civil law at the University of Ottawa, followed by one year of profes- sional training at the Quebec bar school. She then decided to go to Europe where she studied at The Hague Academy of International Law for three months, before entering the LLM program at the Université de Sherbrooke, focused on health law. While working on her LLM, she was asked by Langlois Kronström Desjardins S.E.N.C.R.L., a medium-sized law firm in Montreal, to help represent the Quebec government before the Krever Commission during the tainted-blood scandal. The commission was investigat- ing allegations that the Canadian Red Cross was responsible for supplying con- taminated blood and blood products to the health-care system, resulting in the spread of the AIDS virus and hepatitis C to blood donors. So, at 23, Clark moved to Toronto to attend the hearings. "That was my articling, believe it or not, in the first year of my career," she says. "It was a heavy start, but it was very much aligned with my interests at the time — what I thought were my interests." She returned to Sherbrooke to finish her LLM and then worked for Langlois Kronström Desjardins in private practice, mainly litigating in the area of health law. But when she was ready to have children, she left private practice and moved in- house, joining the Desjardins Group in a regulatory compliance role, her first step towards gaining experience in regulatory matters. "The regulatory compliance role forces you to be a very good generalist, to know a lot about everything," she says, "and especially to know your business, to understand how laws and regulations will affect the business." Clark once again moved to Toronto when her husband was transferred there, which meant she had to go back to school to earn her common law degree. In 2003, she applied to the University of Toronto to do her equivalency program through the National Committee on Accreditation (Quebec lawyers are considered foreign lawyers in the common law system). That process took two years, after which she got her call to the Ontario bar. That led to a job as director of risk management and compliance at Canadian Tire Corp. Ltd., working with the board to ensure it had appropriate processes and policies in place to report on compliance. After four years in that role, Clark was recruited by the banking association, a role she knew wouldn't be easy. A few months before she took the job, the economy 60-SECOND SNAPSHOT THE LAWYER: Nathalie Clark THE COMPANY: Canadian Bankers Association Clark studied law at the University of Ottawa, the Université de Sherbrooke, and the University of Toronto, as well as The Hague Academy of International Law, earn- ing her degrees in both civil law and common law. Initially interested in health law, her articling experience came from representing the Quebec govern- ment before the Krever Commission during the tainted-blood public- health scandal. Clark also spent a year working with the Canadian International Development Agency, helping to restructure the legal system in Guatemala. After moving to Toronto and working for Canadian Tire, she was recruited by the CBA, where she works closely with the banks to help shape public policies for the financial services industry. crashed. "We were engaged on a daily basis with the federal government and various banks to be part of finding solutions," she says. "It has been challenging, but yet a unique opportunity. It's like having the front seat at a very good movie." In her first year at the CBA, Clark put in a lot of long hours to educate herself on the industry. Getting up to speed on the Bank Act alone, she says, was a daunt- ing task. "But it reinforced my belief that everything is possible — you just have to work, you have to sit down and do it." The greatest achievement of her career so far is how far she's come. "To now be the general counsel at the CBA is quite an achievement from my perspective, to be called to both bars and be able to practise law in the civil law system and common law system," says Clark. "To speak French and English fluently has been extremely beneficial to my career and is a big part of the reason I am where I am now." IH INHOUSE OCTOBER 2010 • 43