Job Description

Job description
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for Legal Collection Manager
Job Title: AVP, Legal Collection Manager
Job Summary:
The Legal Collection Manager will oversee all legal matters related to the recovery and management of secured and unsecured loan portfolios. This role involves coordinating with empaneled legal vendors to handle legal proceedings, manage recoveries, and ensure compliance with relevant laws and regulations. The Legal Manager will provide legal support to the collections team, ensuring efficient and timely action on delinquent accounts while minimizing legal risks. Maintain accurate records of all legal cases, including status updates, court orders, and recovery progress. They will also ensure adherence to banking laws, regulatory requirements, and internal policies, including the C27 Legal Management Standards, while providing direction and support to law firms. A strong understanding of the SARFAESI Act, DRT (Debt Recovery Tribunal), PSS Act, Lok Adalat, Insolvency and Bankruptcy Code (IBC), and other relevant civil and criminal recovery laws is essential.
Principal Responsibilities:
xc2xb7 Formulate legal strategies for the recovery of secured and unsecured loans.
xc2xb7 Manage relationships with empaneled law firms and legal vendors, ensuring timely and effective action on legal cases.
xc2xb7 Work closely with the banks legal and compliance departments to integrate any policy changes issued by central governing bodies, such as the RBI. Document these changes post-approval in the Local Collection Manual, Desk Instruction Manual, and DCA Guidelines.
xc2xb7 Advise on recovery actions under applicable laws, including the SARFAESI Act, DRT, PSS Act, Lok Adalat, IBC, and other relevant laws.
xc2xb7 Ensure compliance with banking laws, regulatory requirements, and internal policies ( C27- Legal management Standards), providing direction and support to law firms.
xc2xb7 Monitor and review the performance of external legal vendors to ensure alignment with the banks objectives.
xc2xb7 Oversee and coordinate the preparation and filing of legal documents, such as notices, affidavits, and applications, by external legal counsel.
xc2xb7 Monitor ongoing litigation, ensuring effective follow-up and timely resolution of cases.
xc2xb7 Coordinate with external lawyers for the investigation of property titles, addressing any title issues and providing legal remedies.
xc2xb7 Manage the repossession and auction processes for secured assets in line with legal guidelines.
xc2xb7 Maintain accurate records of all legal cases, including status updates, court orders, and recovery progress.
xc2xb7 Prepare regular reports on the status of legal cases, highlighting key developments, risks, and opportunities.
xc2xb7 Present legal case updates and recovery progress to senior management and ensure timely regulatory submissions.
xc2xb7 Participate in negotiations with delinquent customers to reach amicable settlements, providing legal support during discussions.
Operational Effectiveness & Control:
xc2xb7 Ensure cases are filed by legal counsel within agreed timeframes, and track their efficiency and effectiveness, providing regular feedback.
xc2xb7 Obtain legal orders and execute actions in a time-bound manner.
xc2xb7 Manage the timely assignment and withdrawal of cases.
xc2xb7 Maintain accurate data on all legal cases and publish regular MIS reports.
xc2xb7 Plan and conduct routine visits to court and legal counsel offices.
xc2xb7 Provide relevant data to legal counsel to ensure cases progress smoothly.
xc2xb7 Understand and manage operational risks associated with the role, including risk identification, assessment, mitigation, and reporting.
Maintain internal control standards, ensuring the timely implementation of internal and external audit recommendations, as well as addressing any issues raised by regulators.
Requirements
Education Qualifications / Certifications and Requirements:
xc2xb7 Education : Bachelors Degree in Law (LLB): Mandatory.
xc2xb7 Experience : Minimum of 5+ years in the legal department of a bank / financial institution.
xc2xb7 Knowledge : Strong understanding of collections law and recovery regulations.
Skills:
xc2xb7 Excellent written and verbal communication skills.
xc2xb7 Strong interpersonal skills for managing external legal vendors and collaborating with internal stakeholders.
A strong understanding of the SARFAESI Act, DRT (Debt Recovery Tribunal), PSS Act, Lok Adalat, Insolvency and Bankruptcy Code (IBC), and other relevant civil and criminal recovery laws is essential.
Useful Link
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Issued by The Hongkong and Shanghai Banking Corporation Limited, India