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Legal Manager – Collections/unsecured Lending
4 weeks ago
Job Description: Collections & Legal Manager – BFSI/Lending
Location: Mumbai, India
must-haves upfront:
- "Must have 5+ years of BFSI unsecured lending collections experience"
- "Strong in Section 25, Arbitration, Police Complaints, 90+ collections"
- "LLB mandatory"
Budget: 14 LPA
The company is looking for a Legal Manager with 5+ years of experience in unsecured lending/ Collections , specifically:
- Legal recovery: Section 25, Arbitration, Police Complaints, 90+ collections
- Strong knowledge of lending laws, collections strategy, and compliance
- Legal drafting, coordination with law enforcement agencies, and recovery organizations, etc.
- Must have an LLB, hands-on recovery experience, and familiarity with DRT/NCLT is a plus
About Company :
A leading financial services company specializing in innovative lending solutions is seeking a seasoned Collections & Legal Manager with extensive experience in the BFSI sector, particularly in lending. The ideal candidate will possess deep expertise in legal collections, including proficiency in handling Section 25, Arbitration, Police Complaints, and managing 90+ collections. The role involves overseeing the entire collections process, spearheading legal actions, and ensuring strict compliance with regulations to optimize recovery rates while minimizing legal risks.
Key Responsibilities:
* Collections Management:
o Lead and manage collections for high-risk loans and overdue accounts, ensuring the effective recovery of 90+ accounts.
o Develop and execute strategies to recover defaulted accounts, meeting collections, targets, and KPIs.
* Legal Expertise:
o Provide expert guidance on the legal aspects of collections, ensuring full compliance with Indian laws and regulatory requirements.
o Drive legal actions such as Section 25 recovery processes, arbitration proceedings, and filing of police complaints for fraud or default.
o Draft and review legal documents related to collections, including demand notices, legal notices, and settlement agreements.
o Represent the organization in arbitration hearings and collaborate with external legal counsel to ensure favorable outcomes.
* Stakeholder Management:
o Work closely with internal teams such as Risk, Compliance, and Operations to ensure seamless management of collections and legal matters.
o Engage with external legal partners, collection agencies, and enforcement authorities when required.
* Regulatory Compliance & Reporting:
o Ensure compliance with BFSI regulations, including lending and collections guidelines, while ensuring the legality of all collection processes.
o Provide regular performance reports to senior management on the collection efforts and legal proceedings.
* Performance Optimization:
o Continuously assess and enhance collections strategies to maximize recovery rates and resolve accounts promptly.
o Analyze collections data trends, implement process improvements, and ensure best practices are followed.
Key Requirements:
o Proficient in Section 25 legal proceedings, Arbitration, and filing police complaints for financial delinquency and fraud.
o Demonstrated success in managing 90+ collections and delivering on recovery performance in high-pressure environments.
* Skills & Competencies:
o Strong understanding of lending regulations, legal compliance, and collections strategies within BFSI.
o Deep knowledge of legal procedures and enforcement actions required for effective collections.
o Excellent negotiation and communication skills to resolve conflicts and negotiate settlements.
o Proficiency in using collections software, CRM tools, and MS Office Suite. Personal Attributes:
o Ability to work both independently and within a team.
o Strong attention to detail with exceptional organizational skills.
o Proactive, results-oriented, and self-motivated to achieve targets.
Desirable Skills:
* Experience with Recovery Agencies, Recovery Laws, and the Debt Recovery Tribunal (DRT)processes.
* Familiarity with NCLT (National Company Law Tribunal) procedures in corporate defaults.
Why Join Us?
* Competitive salary with performance-based incentives.
* Dynamic work environment offering exposure to a variety of legal and collections challenges.
* Opportunity for career growth within the BFSI sector while contributing to the success and profitability of the organization.
If you are a driven professional with the required experience and are looking for an exciting opportunity to advance your career in collections and legal management, we encourage you to apply
