Job Description

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 Manager - Recovery Management (Secured and Unsecured Portfolios)Job Title: AVP, Legal ManagerJob Summary:The Legal 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:\xc2\xb7 Formulate legal strategies for the recovery of secured and unsecured loans.\xc2\xb7 Manage relationships with empaneled law firms and legal vendors, ensuring timely and effective action on legal cases.\xc2\xb7 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.\xc2\xb7 Advise on recovery actions under applicable laws, including the SARFAESI Act, DRT, PSS Act, Lok Adalat, IBC, and other relevant laws.\xc2\xb7 Ensure compliance with banking laws, regulatory requirements, and internal policies ( C27- Legal management Standards), providing direction and support to law firms.\xc2\xb7 Monitor and review the performance of external legal vendors to ensure alignment with the banks objectives.\xc2\xb7 Oversee and coordinate the preparation and filing of legal documents, such as notices, affidavits, and applications, by external legal counsel.\xc2\xb7 Monitor ongoing litigation, ensuring effective follow-up and timely resolution of cases.\xc2\xb7 Coordinate with external lawyers for the investigation of property titles, addressing any title issues and providing legal remedies.\xc2\xb7 Manage the repossession and auction processes for secured assets in line with legal guidelines.\xc2\xb7 Maintain accurate records of all legal cases, including status updates, court orders, and recovery progress.\xc2\xb7 Prepare regular reports on the status of legal cases, highlighting key developments, risks, and opportunities.\xc2\xb7 Present legal case updates and recovery progress to senior management and ensure timely regulatory submissions.\xc2\xb7 Participate in negotiations with delinquent customers to reach amicable settlements, providing legal support during discussions.Operational Effectiveness & Control:\xc2\xb7 Ensure cases are filed by legal counsel within agreed timeframes, and track their efficiency and effectiveness, providing regular feedback.\xc2\xb7 Obtain legal orders and execute actions in a time-bound manner.\xc2\xb7 Manage the timely assignment and withdrawal of cases.\xc2\xb7 Maintain accurate data on all legal cases and publish regular MIS reports.\xc2\xb7 Plan and conduct routine visits to court and legal counsel offices.\xc2\xb7 Provide relevant data to legal counsel to ensure cases progress smoothly.\xc2\xb7 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:\xc2\xb7 Education : Bachelors Degree in Law (LLB): Mandatory.\xc2\xb7 Experience : Minimum of 5+ years in the legal department of a bank / financial institution.\xc2\xb7 Knowledge : Strong understanding of collections law and recovery regulations.Skills:\xc2\xb7 Excellent written and verbal communication skills.\xc2\xb7 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

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