Liliana Marcos – Prosa

Liliana Marcos is the general counsel at Prosa, a company that plays a vital role in Mexico’s card payment ecosystem. Established in 1968, Prosa has become a cornerstone of the country’s financial infrastructure, enabling seamless transactions between card issuers, acquirers and merchants. Often referred to as the heart of the card payment system, Prosa’s services are integral to the daily lives of millions of Mexicans. Marcos is entrusted with ensuring that Prosa’s legal framework supports its innovative services while maintaining rigorous compliance with the financial regulations that govern the industry. Her role is crucial, especially given Prosa’s reputation as a pioneer in financial technology, often likened to a FinTech company due to its cutting-edge technological tools and services.

Liliana Marcos | Prosa | General Counsel

Marcos’ arrival at Prosa marked a significant shift, not just for her but also for the company, as it navigated the complexities of a rapidly changing financial landscape. Her extensive experience in regulatory affairs and her legal acumen positioned her perfectly to lead Prosa’s legal department during this transformative period.

“Our mission is to bridge innovation and regulation, ensuring that every transaction not only meets the highest standards of compliance but also supports the seamless, forward-thinking financial experiences that our clients rely on,” Marcos says.

Revolutionizing contract design

One of the most significant projects Marcos spearheads is the innovation of the contracting scheme at Prosa. She recognizes the challenge of structuring contracts that are adaptable to the company’s evolving needs and the technological tools it employs. In the financial sector, contracts must be robust and comprehensive to ensure compliance with regulations and protect the interests of all parties involved.

Marcos’ innovative approach involves designing a framework that balances legal rigor with the flexibility necessary for technological advancement. This means creating transparent and clear contracts that are dynamic enough to accommodate the fast-paced changes in the financial technology landscape. Her work ensures that Prosa’s clients clearly understand what they are consuming and paying for, thus fostering trust and efficiency in business relationships.

Marcos’ efforts focus on making contracts streamlined and efficient, involving meticulous planning. She is working on a comprehensive framework contract and annex for providing services, including a manual with terms and conditions accessible through a portal. This digital approach reflects Prosa’s commitment to leveraging technology to improve client experiences. The goal is to create a system where clients can easily access and understand their contracts, with all relevant information, such as consent, object, and price, clearly delineated.

This innovative contractual framework enhances transparency and reduces bureaucratic burdens, allowing Prosa to place products and services more quickly in the market.

“By ensuring that legal documents are straightforward and accessible, we’re helping to position Prosa as a leader in client-centric service delivery within the financial sector,” she says.

Creating a positive work environment

Marcos’ leadership approach is evident in how she manages her team of eight lawyers. Despite the small size of her team, the synergy they have built is a significant advantage. Weekly meetings discuss important topics, updates, and project follow-ups, fostering an informal yet productive atmosphere. Her team consists of generalist lawyers with various areas of expertise, from litigation and client relationships to regulatory knowledge. Marcos strongly emphasizes communication, transparency, and engagement, ensuring her team is well-informed about Prosa’s direction and involved in strategic discussions.

Recruiting and retention are ongoing challenges, particularly given Prosa’s reputation as a valuable knowledge hub. Marcos acknowledges that Prosa’s environment promotes professional development, making it an attractive target for recruiters. She is committed to retaining her team by keeping them engaged, challenged, and informed. The organization’s structure and continuous learning opportunities contribute to a positive work environment, reinforcing Prosa’s status as a great workplace.

Marcos finds satisfaction in her role at Prosa, particularly in having a voice and a vote in the company’s strategic decisions. Being part of various committees allows her to stay informed about diverse topics, align legal strategies with the company’s goals, and contribute to Prosa’s overall vision. This involvement enriches her understanding of the company’s operations and enhances her ability to provide valuable legal insights.

Reflecting on her career, Marcos identifies the transition from the public to the private sector as her most significant challenge. The shift required her to adapt quickly to a new pace of work, different responsibilities, and a novel corporate culture. Despite the complexities, including navigating her role during a pandemic and a much-desired pregnancy, Marcos has embraced the challenge with resilience and determination.

From passion to leadership

Marcos’ journey is a testament to passion and perseverance. Surprisingly, she is the only lawyer in her family, embarking on this path after someone noticed her fervor in defending an argument and suggested she pursue law. With a love for reading, she enrolled at the Instituto Tecnológico Autónomo de México (ITAM), where an engaging Roman law class confirmed her interest.

After graduating, Marcos worked at an international law firm before joining the National Banking and Securities Commission (CNBV). Over 16 years, she climbed the ranks to become director general, constantly learning and forming lasting friendships. Her transition to Prosa in May 2020 marked a significant shift from public service to the private sector, bringing new challenges and perspectives. She values her supportive boss and colleagues, recognizing the privilege and responsibility of her role.

Marcos’ success is also rooted in her personal life. She shares a deep bond with her twin sister, who works in the financial system. Her supportive husband offers valuable perspectives, and her father, a PhD holder, has taught her to think critically. Her mother has developed her, passing down traits like curiosity and tenacity. Most importantly, her three-year-old son inspires her to be a better person, mother, and lawyer.

“I am confident that the best is yet to come,” Liliana assures.