Greta A.Jacobs: Driving Accountability & Compliance in Mexico's Corporate Sector

Many perceive corporate compliance as a maze of restrictions, while few view it as an opportunity for innovation. Where others enforce rules, a genuine visionary reimagines them, transforming compliance from a bureaucratic burden into a competitive advantage. As the Compliance and Risk Prevention Partner at Calatrava Consultores, Greta A. Jacobs does more than just ensure that businesses follow laws, she is shaping cultures of integrity, where transparency fuels progress, and accountability is the foundation of sustainable growth.

Greta’s journey into compliance wasn’t unconventional. She began her career at Northwestern University’s Center for Wrongful Convictions during law school and then served as a clerk for Chief Judge Bernard A. Friedman in Michigan, gaining firsthand exposure to legal complexities. In 2005, she moved to Mexico City, and shifted her focus to compliance and risk management, focusing on high ethical standards in the corporate setting. She has demonstrated that adherence to ethical business practices and relevant regulations are critically important foundations for corporate success.

Today, Greta is more than a consultant. She is a force for ethical transformation, with respect, dignity, and collaboration as the key elements of her approach. Greta implements effective compliance frameworks and leads teams toward corporate responsibility. By fusing legal acumen with business, she ensures organizations meet regulatory standards and operate with integrity. Through her leadership, Greta is paving the way for a new era of compliance in Mexico, where ethics and enterprise go hand in hand, and where women in the field are rewriting the rules for generations to come.

In a personal interview, Greta shared her impressive journey and the challenges she faced along the way.

My approach to compliance is rooted in the 'Getting to Yes' principle, which prioritizes fostering win-win solutions for all parties

Highlight key milestones from your two-decade journey in compliance, ethics, legal, and risk prevention.

My journey began when I was offered an intriguing opportunity, a position at GFBanamex Compliance. This evolved into Citibank’s Latin America Regional Compliance Office. As the team's only native English speaker, I dove into complex, high-stakes issues. Additionally, I took charge of coordinating policy and regulatory functions and spearheaded a risk and control program for Citi Japan’s corporate bank.

After nearly five years, I was invited to join Walmex, where I led a comprehensive compliance overhaul, impacting more than 200,000 employees, across six countries. My focus was risk assessment and anticorruption controls. Next, I developed compliance programs covering a wide array of subjects, including privacy, anti-money laundering, antitrust, and consumer protection. I also ensured adherence to standards and regulations concerning textile and product safety, pharmacy operations and manufacturing, imports, and labour. These diverse responsibilities broadened my perspective and understanding of successful and massive business operations across multiple jurisdictions.

Tell us about Calatrava Consultores and your role as Compliance & Risk Prevention Partner.

Established in 2018, Calatrava Consultores is a dynamic consulting firm that embodies a startup spirit, boasting a presence in six cities across Mexico. With nearly 600 clients to date, 40 percent of whom are foreign enterprises, the firm has swiftly made its mark in a variety of industries. Acknowledging the increasing demand for compliance expertise, Calatrava Consultores extended an invitation for me to join their innovative team.

I am passionate about developing tailored compliance programs in both English and Spanish. This includes interactive training sessions that render legal topics such as anticorruption, antitrust, and workplace harassment prevention relevant and engaging. I draft standards and controls, conduct internal and industry investigations, implement monitoring processes, and execute risk assessments. A primary objective is to provide corporate leaders with concrete indicators that identify regulatory vulnerabilities and effectively prioritize resource allocation.

Every business leader faces challenges. What are the biggest obstacles in your current role and how do you navigate them?

The two biggest challenges I face are persuading businesses to prioritize compliance and overcoming resistance to change. Implementing compliance controls often necessitates a shift in corporate culture, and when leaders realize that this entails fundamental transformations, there is occasional hesitation. To alleviate these concerns, I provide specific solutions that incorporate change management techniques.

Many companies reach out to me for help with one concrete compliance issue. Through thoughtful questioning, I help them uncover the benefits of investing in broader preventive measures. I advocate for phased strategies and focus on the unique risks of each industry. Business leaders always receive multiple examples of concrete potential returns on investment. I emphasize that strong compliance not only protects a brand's reputation but also mitigates the risk of negative regulatory scrutiny and operational failures. Ultimately, my role is to navigate companies through the intricate landscape of regulations, ensuring they operate ethically, manage risks proactively, and clearly demonstrate the tangible benefits of their investment in compliance.

What is your guiding success principle and what are your biggest professional achievements thus far?

My guiding philosophy for success is rooted in the principles outlined in Fisher and Ury's seminal book, "Getting to Yes". I prioritize teamwork and collaborative achievement over the traditional winner-loser dynamic. True success, in my view, is achieved when all stakeholders are genuinely engaged and satisfied with a process and its outcomes.

One of my notable accomplishments was the development of a robust anticorruption program amidst intense scrutiny, where I successfully garnered support from key stakeholders across a vast geographic region. This initiative not only demonstrated resilience, it also underscored the importance of building alliances in challenging environments.

Another significant milestone was the launch of an innovative antitrust program within the merchandising industry, securing buy-in from all levels of the organization. This initiative showcased the power of inclusive leadership and demonstrated that by fortifying risk management and implementing effective compliance controls, corporations can enhance shareholder value and set new standards for their industry.

Through these experiences, I've proven that a strategic focus on compliance is not just about adhering to regulations, it’s about driving sustainable growth through setting the groundwork with ethical practices which can even elevate standards for an entire market.

How will compliance and risk management evolve in Mexico?

International trends play a crucial role in shaping Mexico's regulatory environment. When a regulatory matter gains traction globally, it inevitably becomes a priority in Mexico. Privacy, data protection, and anti-money laundering are prime examples. As the European Union strengthens regulations regarding online protections for minors, I expect Mexico to feel the pressure to align with these evolving standards. Such adaptations are essential for preserving the country's appeal to foreign investors.

Additionally, the broader political landscape significantly influences regulatory expectations. With new leadership in both Mexico and the United States, businesses are facing a period of rapid change and uncertainty. I am monitoring these developments, as regulatory shifts in the coming years are likely to have a substantial impact on companies navigating Mexico's dynamic legal and compliance framework.

Greta A. Jacobs, Partner (Compliance & Risk Prevention), Calatrava Consultores

Greta A. Jacobs is an accomplished compliance and risk prevention expert with a solid foundation in legal risk and compliance. Her extensive experience overseeing a wide range of compliance programs, including anticorruption, antitrust, and ethics, includes successful contributions to the operations of multinational corporations, including Citibank and Walmex, as well as various privately held businesses. Currently, she offers comprehensive consulting services that address all facets of risk prevention and compliance, helping organizations navigate complex regulatory landscapes.

EDUCATIONAL QUALIFICATIONS

Bachelor of Science from Cornell University’s School of Industrial and Labor Relations Juris Doctor from Northwestern University School of Law and member of the Illinois Bar Association Diploma in Mexican Antitrust Law

AWARDS & RECOGNITIONS:

Multiple awards and recognitions from leadership at Citibank and Walmart.

Cornell University Guest Lecturer: 'Compliance is a Business Strategy'

DePaul University Guest Lecturer: 'Ethical Risks of Artificial Intelligence'