The legal sector in India has been growing rapidly in recent years, with increasing demand for legal services and a rise in the number of law firms and legal professionals. Interestingly enough, a lot of international companies have been drawn to hiring Indian lawyers in the recent past, especially post pandemic, with the popularization of work from home. Ms. Shreya Shankar, Head - Legal & Compliance at Agents for Impact GmbH (a Frankfurt based impact investing company), is one of the leaders driving this growth. In her current role, Shreya Shankar has successfully handled numerous debt-financing transactions across multiple emerging markets across the globe, including India. Through her leadership and expertise, Shreya is making a significant impact in the legal sector in India and is shedding light on this niche yet rising sector. Let’s learn more from her in these snippets from our interview with her.

Describe your education and work background that makes you qualified for this role.

My passion for debating and public speaking throughout my childhood and during high school sparked my interest in pursuing a career in law. After graduating from high school, I wrote my CLAT examination and was admitted to the National University of Advanced Legal Studies in Kochi for pursuing a BA LLB (Hons.) degree. I began my professional career with ICICI Bank Limited in their Corporate Legal Group, where I gained extensive experience in banking & finance law, and worked as the State Legal Head for Tamil Nadu & Kerala.

I was also involved in cross-border corporate lending transactions that involved multiple jurisdictions. In 2020, as fate would have it, I joined Agents for Impact to gain more experience in international financial law as well as learn more about sustainable finance. And it has been a highly rewarding experience ever since. Throughout my professional journey, I am lucky to have excellent mentors & colleagues whose guidance and support have helped me grow both personally and professionally.

Introduce us to Agents for Impact. Tell us about the different responsibilities you shoulder as the Head- of Legal & Compliance for the company.

'Agents for Impact GmbH' is a Frankfurt-based impact investment company that aims to promote impact investments, and financial inclusion for underserved populations globally, and contribute to the UN's Sustainable Development Goals using its proprietary AFISAR tool. As Head - Legal & Compliance, I handle legal issues, ensure compliance with laws, and assist the leadership team in achieving the company's goals. I also work on all legal aspects of debt financing transactions, including AML-KYC compliance, that my company facilitates for clients. To date, we have successfully disbursed loans totaling EUR 280 mln across 20 countries. My role is extremely dynamic and involves putting on different hats every day. But this is what I find extremely fulfilling because I am learning something new every day from this job.

Throw some light on the most critical challenges you encounter as a lawyer. How do you overcome the roadblocks that you face? When I joined AFI, I was the only legal team member and had to transition from team member to team leader. My responsibilities included creating a strong legal foundation for the company, protecting its interests, and maintaining a legal and ethical environment for growth. AIthough daunting at first , I saw this as an opportunity for growth and learning about the industry, researching legal landscapes, understanding business goals, and building legal foundations for the company.

"Law as a profession requires hard work, perseverance, and a positive can-do attitude to succeed, and these are the pillars i rely on for my success"

As the Head - Legal & Compliance at Agents for Impact, I learned to synergize a legal and business approach to any issue the organization faced. Instead of simply minimizing or avoiding risk, I had to embrace risk and find solutions to manage risk while optimizing the business. Once I found a balance in this approach, overcoming hurdles became much easier.

How important is it for professionals in the legal field to stay updated with industry evolutions and changes? How do you align yourself with these changes?

You have to keep up with the latest trends. This is crucial for professionals in any field, including law! Our economic, political, and social landscape is ever-changing, so as a corollary, the legal landscape is also constantly evolving. Hence, we need to catch up and keep ourselves updated with legal developments on a day-to-day basis. I try to read up on developments regularly. Additionally, I have an alert for any legal developments/ landmark judgments issued in the finance sector to keep myself constantly updated. I work with local lawyers from different countries to close loan transactions, so this is a bonus way in which I keep myself up to date on international laws.

Tell us about some of the key milestones you have achieved throughout your professional journey.

At AFI, I have successfully handled all the legal and AML-KYC aspects of 40 debt financing transactions aggregating over Euros 180 mln across 20 countries, while my company has disbursed an overall of around EUR 280 mln since its inception in 2018. In India alone, I have successfully concluded transactions aggregating to Euros 100 million. While at ICICI bank, I was provided an award by the ICICI Bank’s Head of Legal for my passion for the workplace. This recognition made all the work I did worth it. Receiving validation from your peers and your seniors is extremely gratifying and helpful to further make you love your job.

Shreya Shankar, Head - Legal & Compliance, Agents For Impact

Shreya began her professional career with ICICI Bank Limited in its Corporate Legal Group, where she gained extensive experience in banking & finance law, and worked as the State Legal Head for Tamil Nadu & Kerala. Later, she joined Agents for Impact in mid-2020 to gain more experience in international financial law, and it has been a highly rewarding experience ever since. Shreya hopes that this recognition helps shed light on the impact investing industry inspires lawyers and women entrepreneurs to consider bringing their innovation and creativity into the sustainable finance sector in india.