Legal Collection Manager

Job descriptionSome careers open more doors than others If youre looking for a career that will unlock new opportunities join HSBC and experience the possibilities Whether you want a career that could take you to the top or simply take you in an exciting new direction HSBC offers opportunities support and rewards that will take you further for Legal Collection ManagerJob Title AVP Legal Collection ManagerJob 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 RequirementsEducation 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 LinkLink to Careers Site ClickYoull achieve more when you join HSBC HSBC is committed to building a culture where all employees are valued respected and opinions count We take pride in providing a workplace that fosters continuous professional development flexible working and opportunities to grow within an inclusive and diverse environment Personal data held by the Bank relating to employment applications will be used in accordance with our Privacy Statement which is available on our website Issued by The Hongkong and Shanghai Banking Corporation Limited India