Alejandra Navarro, Compliance Officer at ID Finance Mexico, has been recognized by Top Compliance magazine as one of the best Ibero-American Compliance Officers of 2023. This prestigious distinction highlights Alejandra’s excellent work at ID Finance.
With over 10 years of experience in regulatory compliance, Alejandra has held various positions in companies within the Multiple Purpose Financial Companies (SOFOM) sector and Unregulated Entities (ENR), as well as in Fintech companies. In all of them, she has developed prevention mechanisms within the areas she has led over the years.
We at ID Finance wanted to talk to her about the significant challenges she faces as a Compliance Officer.
Top Compliance Magazine has just awarded you as the best Ibero-American Compliance Officer in the International Business category. How do you feel about this award?
I receive it with great emotion, as it is the second consecutive year that I have been named as one of the best Compliance Officers in Ibero-America. It also brings great responsibility to continue working for Compliance in Mexico and to recognize all the work we do in this country to combat money laundering and any challenges that arise in our areas of responsibility.
For those unfamiliar with the functions of a Compliance Department, what does your department do and how important is it for a fintech company like ID Finance Mexico?
Our Compliance department is dedicated to implementing policies to prevent money laundering and terrorist financing through typologies we detect in potential clients or international typologies. The importance of this department is high, as together with the Senior Management and other departments we can avoid potential sanctions and mitigate risks for the company.
As an experienced professional and Compliance Officer at ID Finance Mexico, what would you say are the main challenges the Fintech sector faces in Mexico today from a regulatory compliance perspective?
Perhaps the main challenges all Compliance Officers working in Fintechs face are the constant changes and understanding how the financial world and products evolve, to offer better financial solutions to different markets.
How do you formulate Compliance policies for ID Finance Mexico considering these current challenges?
The Fintech sector experiences constant changes, both technological and regulatory. This leads us to always seek improvement models and innovative solutions to implement within our Entities to better understand how risks change and to implement mitigation policies.
In recent years, we have seen an increasing presence of women in senior positions. In fact, the prestigious award you received for your excellent work as a Compliance Officer reflects the excellent female talent in the Compliance field. Although there is still a way to go, what do you think has improved for qualified women to access relevant positions in companies? And what do you think still needs to be done?
Companies are changing their hiring policies. They value female talent more than before and are starting to trust women to occupy high positions. We are just as capable as men of occupying these strategic positions. The fact of being a woman is no longer an obstacle. What we need, in my opinion, is for us women to believe more in our ability to access these positions, to believe in ourselves.
ID Finance is a company that advocates for equality between men and women. What advantages do you see as a woman working for a company like ID Finance?
I feel very fortunate to be able to work at ID Finance, as it is a company that supports all talent to grow both professionally and personally. The limit and expectations of growth are set by each one of us. Similarly, I like to accompany and advise my colleagues that we can always achieve everything we set out to do, to generate a supportive network among women which boosts us all together.
What advice would you give to talent in general, and female talent in particular, considering working in the field of Compliance?
Set a goal to reach. If they know a woman who inspires them to reach the position they desire, seek mentoring and advice, to trust in themselves, because we as women are fully capable of holding management positions.
What do you value most about working at ID Finance Mexico?
The values that we have as a company. ID Finance is more than a company, it’s like a family that supports us to achieve what we set out to do.
