Legal Collections Manager

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Within International Wealth and Premier Banking (IWPB), we serve 41 million customers globally, including 6.7 million who are international, from retail customers to ultra high net worth individuals and their families. We help our customers to take care of their day-to-day finances and to manage, protect and grow their wealth. Our international network and breadth of expertise enable us to deliver on HSBC's purpose of opening up a world of opportunity by providing our customers with borderless banking and world-class wealth management through best-in-class, mobile-first capabilities and exceptional people. Our key areas of operations include Retail Banking and Wealth Management, Asset Management, Global Private Banking and Insurance.

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:

• Formulate legal strategies for the recovery of secured and unsecured loans.
• Manage relationships with empaneled law firms and legal vendors, ensuring timely and effective action on legal cases.
• Work closely with the bank's 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.
• Advise on recovery actions under applicable laws, including the SARFAESI Act, DRT, PSS Act, Lok Adalat, IBC, and other relevant laws.
• Ensure compliance with banking laws, regulatory requirements, and internal policies ( C27- Legal management Standards), providing direction and support to law firms.
• Monitor and review the performance of external legal vendors to ensure alignment with the bank's objectives.
• Oversee and coordinate the preparation and filing of legal documents, such as notices, affidavits, and applications, by external legal counsel.
• Monitor ongoing litigation, ensuring effective follow-up and timely resolution of cases.
• Coordinate with external lawyers for the investigation of property titles, addressing any title issues and providing legal remedies.
• Manage the repossession and auction processes for secured assets in line with legal guidelines.
• Maintain accurate records of all legal cases, including status updates, court orders, and recovery progress.
• Prepare regular reports on the status of legal cases, highlighting key developments, risks, and opportunities.
• Present legal case updates and recovery progress to senior management and ensure timely regulatory submissions.
• Participate in negotiations with delinquent customers to reach amicable settlements, providing legal support during discussions.

Operational Effectiveness & Control:

• Ensure cases are filed by legal counsel within agreed timeframes, and track their efficiency and effectiveness, providing regular feedback.
• Obtain legal orders and execute actions in a time-bound manner.
• Manage the timely assignment and withdrawal of cases.
• Maintain accurate data on all legal cases and publish regular MIS reports.
• Plan and conduct routine visits to court and legal counsel offices.
• Provide relevant data to legal counsel to ensure cases progress smoothly.
• 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.

Qualifications - External

• Education : Bachelor's Degree in Law (LLB): Mandatory.
• Experience : Minimum of 5+ years in the legal department of a bank / financial institution.
• Knowledge : Strong understanding of collections law and recovery regulations.

Skills:

• Excellent written and verbal communication skills
• 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.

Education :

• Bachelor's Degree in Law (LLB): Mandatory.
• Experience : Minimum of 5+ years in the legal department of a bank / financial institution.
• Knowledge : Strong understanding of collections law and recovery regulations.

Skills:

• Excellent written and verbal communication skills.
• 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.

Eligibility Criteria

• India Bank / INM employees will be eligible to apply to this role after completion of 12 months in the current role/position at the time of application on level transfer and/or promotion.
• Entity Employees (not from India Bank) to be guided by their internal policy on tenure completion in current role at the time of application before applying and share line manager approval once shortlisted
• INM Employees in scope of WPB Career Progression Framework not eligible to apply to roles within the purview of the Framework.

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Issued by The Hongkong and Shanghai Banking Corporation Limited, India