Principal Legal Counsel

2 weeks ago

Bengaluru, Karnataka, India Ujjivan Small Finance Bank Full time
ROLE PURPOSE &

OBJECTIVE:


This role is critical since it engages across various important functions(Collections, Credit, Business, Vigilance) of the bank across regions in an advisory capacity in reference to recovery and other laws in an effort to enhance the process of recovery ultimately resulting in reduced NPA and fewer litigationsThis role is key as an interface with internal groups and serves in an advisory role providing expertise and customized strategy resulting in logical conclusions to litigationsAdditionally this roles liaises with external panels of advocates and courts representing the bank's interests regionallyShe/he will be the go-to person providing current information on cases filed across all regions and centrally, litigations resolved in order to apprise key stakeholders in a timely manner.

This role is pivotal in tracking changes to key laws related to recovery and apprise the Head of Legal and other membersThis role helps tie in all the activities related to recovery across regions in co-ordination with Regional Legal Teams.

KEY DUTIES &

RESPONSIBILITIES OF THE ROLE:
Business/ Financials

Review of Policies of Bank relating to litigation and submission before the appropriate committee for renewal.
Drafting and vetting of Notices, Objections, Responses to be issued in the cases.
Proactively engage in reduction of NPA, lessening litigation and enhancing recovery.


Advise the Regions about changes in recovery laws in the concerned area of operation of the resource in consultation with corporate Manager Legal Litigation & Head of Legal.

Liaise with AML, ALM & RLM on the legal actionable.

Coordinate with AML, RLM & RLM and device suitable strategy on case to case basis, for bringing the litigations (filed by the Bank as well as filed against the Bank) to a logical conclusion.

Maintain the list of litigations, monitor the progress effectively and advise the Regions regarding further steps to be taken in each matter on the immediate next hearing dates.

Review the Litigation MIS and follow up with regions for updating the details.
Ensure prompt handling of cases by panel Advocates through Regions.
Review the Trackers on Empanelment of Advocates and also in monitoring performance of the panel Advocates.
Review the performance of Legal vendors, tracking and renewal of service agreements of such vendors.
Monitoring and maintaining trackers of Advocate and vendor bills and submission of the same to finance for clearance.

Monitoring the NPA cases and taking steps for filing the alternative recovery measuresAssisting the regional legal teams in timely invoking the measures under SARFAESI Act, such has tracking of issuance and service of 13-2 notice,tracking of action under section 13(4), Section -14, including taking possession (symbolic/physical) and sale of the secured assets.

Customer (Both Internal & External)


Give sound legal advice and recommendations to stakeholders and Management in order to protect the legal interests of the Bank.

Communicate/interact with Regulators, Statutory Authorities, Law enforcement Agencies, for resolution of legal issues/ensuring compliance.

Internal Process


Adhere to timelines in obtaining maintaining TAT, maintenance/reporting of MIS, submission of periodical Statements to Top Management of the Bank and submission of Policy and SOP before the appropriate committee for approval.

Monitor the timelines of submission of reports/statements, if any, to Government Authorities and Regulators in a timely manner.
Educate the stakeholders on legal aspects.

Support the secured lending departments in resolving NPA Accounts through measures taken/ to be taken under the provisions of SARFAESI Act (including managing Enforcement Agencies) and assist the Verticals in other recovery methods.

Co-ordinate with Collections and other verticals for possession and taking Legal action through Region.

Innovation & Learning


Maintain a database on Applicable laws pertaining to the area of operation, comprising FAQs, dos & don'ts as a ready reference.

Conduct training on relevant laws/acts to stakeholders on a periodic basis.

Keeping a track on the latest laws affecting litigation and recovery including SARFAESI (and the relevant decisions) affecting business verticals and proactively advise the business teams about such amendments and its implication.

Ensure goal-setting, midyear review and annual appraisal process for self within the specified timelines.
Actively coordinate with respective stake holders in case of any big misses/lapses

Educational Qualifications:
Should be a graduate in Law (5 Year/3 Year) as a regular scholar (Full-Time) from a recognized UniversityExperience :10 + Years of experience in the Legal Departments of a Bank/Financial Institution

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