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Corporate Governance for In House Legal Counsel

Abstract

In recent times, it has become commonplace for in house Counsel (“General Counsel”) to assume additional responsibilities within a Company or Group of Companies such as the Corporate Secretary and/or Chief Compliance Officer. The reasons for this approach are very clear. Businesses are now operating in an increasingly regulated environment. The role of the corporate secretary (or company secretary) has evolved in the 21st century beyond its formative highly administrative role, to assume a heightened focus on corporate governance. Compliance, as a major risk area of any organization, now has greater prominence and therefore the heightened focus. Regulatory compliance requires knowledge of the legal and regulatory framework and ensuring that businesses operate within that framework. Anti-money laundering and counter terrorism financing is even more important than before requiring greater understanding of the laws as they evolve and implementation of robust Anti Money Laundering policies. This is the environment in which a General Counsel operates and a legal background is often times leveraged in each of these three distinct areas.

Author

Julie Thompson-James
Vice President, Senior Legal Counsel, Corporate Secretary, The Bank of Nova Scotia Jamaica Limited, Jamaica

Mrs. Julie Thompson-James is Vice President, Senior Legal Counsel and Company Secretary of Scotia Group Jamaica Limited and its subsidiaries, a position she has held since November 4, 2009. Prior to this appointment, she served as Director, Corporate & Legal Services and Assistant Company Secretary of Scotia Group between June 2008 and November 2009. Julie’s legal experience also spans the public sector in Jamaica, having practiced for 5 years in the Litigation Division of the Attorney General’s Chambers, Ministry of Justice, as Assistant Attorney General (May 2006 to May 2008) and as Crown Counsel (April 2003 to May 2006) defending and initiating action on behalf of the Government of Jamaica before several local courts and the Judicial Committee of the Privy Council. She has also worked with the Financial Sector Adjustment Company Limited (FINSAC), a government owed entity, as Attorney–at-Law and Company Secretary for a period of 5 years. Julie completed her Bachelor of Laws (LLB), (Hons.) degree at the London School of Economics, London, England in 1996 and graduated from the Norman Manley Law School, University of the West Indies with a Certificate of Legal Education in 1999. She also holds an honours Bachelor of Arts degree in Economics & Business Administration (1993) from Howard University, Washington, D.C., U.S.A. Julie is a member of the Commercial Law Committee of the Jamaican Bar Association, member of the Public Policy and Legislative Committee of the Jamaica Bankers Association and an Associate Tutor at the Norman Manley Law School.

Company

The Bank of Nova Scotia Jamaica Limited

The Bank of Nova Scotia Jamaica Limited is a subsidiary of the Bank of Nova Scotia Canada. BNS is the second largest Bank in Jamaica with 2500 employees and has been in existence in Jamaica for 125 years. It has as its two main subsidiaires, a building society and an insurance company and is itself a subsidiary of Scotia Group Jamaica Limited.

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