Compliance & Leadership Insights with Nitesh

In the modern corporation, the legal function has transformed from a back-office cost center to a strategic driver of business. This evolution demands a new kind of leader—one who is not only a legal expert but also a business partner, a compliance champion, and a cultural leader. In this episode of "The Counsel's Code," we sit down with Nitesh Bakshi, a leader with over two decades of experience, to discuss this transition.

Meet the Speaker: Nitesh Bakshi

Nitesh Bakshi is a seasoned law professional with over 20 years of experience in the legal and compliance domain. He currently serves as the Senior Director of Legal, Ethics, Compliance, and Quality at Novo Nordisk, one of the world's leading pharmaceutical companies.

His career began at a law firm and as an independent Company Secretary before he moved to the corporate sector. He has held significant roles such as Controller Legal and Secretarial at United Breweries and Head Legal and Company Secretary at VST Industries. Nitesh's expertise spans legal advisory, corporate law, risk management, and internal audits, and he has been recognized as one of the "100 Best Chief Legal Officers in India" (2023).

Key Insights from the Conversation

How did you get into the field of law?

Nitesh's legal career seems to have been destined from a young age. "I was very inquisitive," he recalls, "asking questions, arguing, debating... my friends and family used to say, 'Oh, you should be a lawyer.'" At the time, law was not a preferred profession; options were often limited to engineering or medicine.

He shares an amusing story from a train journey where a fellow student, upon learning Nitesh was studying law, reacted "as if you couldn't do anything else in your life." This perception, he notes, was common, but "life took a turn," and he entered the legal field.

How do you see the legal professional transition over years?

"The profession has really transitioned," Nitesh states. Today, law is a preferred choice, with competitive exams like CLAT and a multitude of opportunities in corporations, GCC centers, and specialized fields.

The perception of a lawyer has shifted "from those days to these days." It's no longer just about "wearing a black coat... [and] moves around in the court halls." He notes that this change has also brought more women into the field, observing, "even in my team, I have a majority of the lawyers... who are all female."

What were some key challenges you faced while transitioning into leadership roles, and how did you overcome them?

The transition to leadership is about more than just legal knowledge. "Knowing your work is very important, certainly," Nitesh says, "but then if one wants to grow... they need to know lot of other things."

He emphasizes the need to understand stakeholder management, team management, and, most importantly, "how do you contribute to the business." The key shift is moving from a "no" person to a "how-to" person. "Nobody wants a lawyer sitting on the table and saying no... The idea today is, you know... 'I will tell you how to do it... and I will stand behind you so that we can do it together in a... compliant manner.'"

What are the main differences between the role of inhouse counsel and external counsels?

Nitesh defines the in-house counsel as a "generalist" and the external counsel as a "specialist." As a General Counsel, "you need to know everything." He jokes that "anything which nobody knows lands on the table of the General Counsel." This means staying on top of data privacy, labor code changes, POSH, and more.

External counsel, by contrast, are "very specialist." A law firm will have different partners for litigation, data privacy, and labor laws. An in-house counsel must have a broad understanding of all these areas and know "when you need some very specific advice, you... go and ask the external counsel."

How do you keep up with constant change, and what role does technology play?

Technology has been the biggest enabler. Nitesh contrasts the past, where a lawyer's office was defined by "a big fill" of books, with today, where "you just find a laptop." Everything is "available on the click of a button."

He stays updated through a constant stream of information: online resources, mailers from law firms, lawyer groups, and professional journals. "Things are available very much online," he notes, "the only thing is one needs to take up the time to go through that."

How did you manage external stakeholder relationships while upholding compliance?

"Technology is of lot of help these days." Nitesh recalls his early days as a Company Secretary, "stand[ing] in the queue" at the ROC office. Today, "everything is being done online... you don't have to deal with the people in there."

This digitization by the government has "cut up the dealings" and made processes "much more easier, faster, and simpler." His core principle for managing regulators is to "keep our records in place and keep things house in order." With correct documentation, "there's nobody who can stop it," even if they cause delays or ask more questions.

How have the compliances evolved over the years, and what skills are now more essential than ever?

Compliance has "expanded in the scope" far beyond basic regulatory filings. Today, the field includes "data privacy... POSH... anti-bribery, anti-corruption," and global regulations like FCPA.

There is "lot of awareness and sensitization" now. This expansion means the essential skill for a lawyer is no longer just legal knowledge but the ability to manage this broad, interconnected landscape of compliance.

How can organizations embed a culture of ethical practices to address anti-bribery and anti-corruption concerns?

"It is a culture which has to be embedded into the organization... from the top." Nitesh outlines a multi-pronged strategy:

1. Tone from the Top: "Repeated messaging on paper" and leaders who "walk the talk."

2. Awareness & Training: Mandatory training for new joiners, refresher courses, and engagement campaigns.

3. Compliance by Design: Using "tools and procedures" to make compliance system-dependent, not people-dependent.

4. Reward Good Behavior: Positively reinforce those who follow the processes.

How do you approach the first 90 days as a legal counsel in an organization?

In a leadership role, "you are selected basis that you know... the work." The "first 90 days" are therefore not about proving your legal skills, but about integration.

His focus is to:

1. Understand the Culture: "Try and understand the company and its culture."

2. Understand the Business: "How does the business run? What is the supply chain?... Where is the pain point?"

3. Contribute to Business: Frame his role around "how do I contribute to the business" from day one.

4. Know Stakeholders: Go and "speak to them and understand... what their... expectations are from me."

What advice would you give to professionals aspiring to build a career in legal and compliance?

Nitesh offers candid advice for the "impatient" new generation:

1. Be the Best: "Please first of all be the best in whatever you do."

2. Be a Generalist: "Do not limit yourself to just one... portion of the work." In a corporate field, you must be a "master of all the trades."

3. Be Patient: "Do not switch jobs just for a little bit of money... one should look into the future as a long-term benefit."

4. Find a Mentor: "Look for a guide... who is able to handhold and guide you," whether it's on career decisions, new courses, or future trends.

About "The Counsel's Code" Podcast

"The Counsel's Code" is your go-to podcast for exclusive interviews with top legal executives. Discover the strategies they've employed to cultivate their careers, excel in their positions, and emerge as true leaders in their organizations.

Throughout our discussions, we delve into the challenges of leadership and how these accomplished professionals manage the pressures that come with it. Our mission is to provide valuable insights and support for in-house counsel, fostering mutual growth and development.

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Disclaimer: The views expressed in this podcast are the speaker’s personal opinions and do not necessarily reflect the positions of the podcast, Volody, or any current or former employers.