Member in the Spotlight: Patricia Pirone

1. Tell us about your current role.

I am a senior Regulatory Banking and Financial Services Lawyer at Bendigo and Adelaide Bank Limited and have been in this position for almost 14 years! My main focus is retail banking and general banking operations, however I find my areas of expertise cut across the entire Bendigo and Adelaide Bank Group. As a result, I get a somewhat helicopter view of the organisation. My role is quite dynamic and fast paced and I find that there is no typical working day. I could be advising on product development, distribution arrangements, digital banking, payment systems, consumer lending or regulatory reform on any given day. In addition, I sit on various project steering committees and attend business leadership meetings. I also manage a small team of lawyers.

2. What do you believe is the most important skill an in-house lawyer needs?

I believe the importance of soft skills should not be underestimated. While it goes without saying that an excellent understanding of the law coupled with and understanding of the commercial drivers of our clients are important skills for all lawyers, I believe that it is the in-house lawyer's soft skills such as resilience, adaptability, time management, relationship building, and influencing ability that come most in handy. This is especially the case when we are navigating our way through a flurry of workload, competing priorities, multiple internal and external stakeholders or fast paced regulatory change. I also believe it is these skills that help in-house lawyers achieve ‘trusted adviser' status and are fundamental to a successful in-house practice. 

3. What led you to pursue an in-house legal role?

To be honest, I did not pursue an in-house legal role – I was approached by Adelaide Bank and happily took the opportunity. I am so glad that I did as working in-house very much suits my strengths. I enjoy building key relationships and helping the business achieve their desired commercial outcomes. It is also very rewarding to have visibility and influence over the end-to-end life cycle of an entire project rather than merely working on discrete parts of a matter. Unfortunately, lawyers in firms rarely get an opportunity to do this.

4. What advice would you offer to in-house counsel in building relationships with their organisations

I believe communication is fundamental. It is important to take the time to understand what the business requires from the relationship and to also articulate what the legal team needs in return. In addition, asking lots of questions to determine the commercial drivers, pressure points and priorities of the business helps to build an intimate understanding of the business. I also find that a commitment to sitting with the business on a regular basis can help to strengthen the relationship and fosters a collaborative team environment. Whenever I do this I find I get involved in matters at an early stage where I am able to add the most value. 

5. What is the one thing a law degree doesn’t teach you about being an in-house lawyer?

That you can't just be a brilliant black letter lawyer. An in-house lawyer's legal skills must be tempered with sound commercial sense. This includes an appreciation of the flow on effects that any legal advice is likely to have on the business. It is expected that we understand and incorporate these broader business considerations into our legal opinions. 

6. What are the biggest changes you’ve witnessed across the legal sector since you joined the profession?

To be a banking and financial services lawyer now is very different to what it was 16 years ago when I first entered the profession. I have seen a considerable amount of reform and regulatory change over these years - with more to come as a result of the recent Royal Commission into Misconduct in the Banking, Superannuation and Financial Services Industry. In addition, new technology in banking is also having a huge impact as the law struggles to keep up with technological innovation. This fast paced regulatory change coupled with the rise of technological innovation have added an extra layer of complexity when advising the business and managing regulatory risk.

7. Finish this sentence…. If I wasn’t a lawyer I’d be….

A professional renovator! I love architecture and interior design and generally bringing new life to an otherwise rundown property. 

8. I like being a part of the ACC Australia community because …….

It keeps me connected to the profession. It is easy to work in a vacuum but I believe it is important to know what is going on in the profession around you. Also, I find that interacting with a group of your industry peers brings about a real sense of belonging, support and inspiration.