Regional Legal Debt Manager

Job Requirements

Job Description

Job Title – Regional Legal Collection Manager – Multi Products

Place of work – Mumbai

Business Unit – Retail Banking

Function – Collections

Job Purpose

This role entails minimizing losses to the bank by maximizing recovery of debts owed to the bank through legal routes. It involves devising strategies and employing effective staff to fulfil its objectives. This role includes extensive liasoning with Business Heads and Finance, HR and Collection Heads to design and decide on the optimal legal tool and action plan to minimize losses and thereby improving profits for Retail and Rural products. The role holder would be responsible for representing IDFC First in any legal matter along with the Corporate Legal team while managing cases against the bank and contributing to the larger organizational objectives of the bank. This is a critical role that has a direct impact on the financial institution's legal compliance and well-being.

Primary Responsibilities

• Design strategies to minimize losses to the bank by effectively recovering debt owed to the bank by leveraging legal tools and routes.
• Ensure strict compliance with Legal rules and regulations in every state.
• Partner with Corporate Legal team to manage cases against the bank in court.
• Co-own collection numbers with the other Collection Heads.
• Lead the Legal Processing Office and manage backend processes and SOP for legal operations.
• Spearhead the Legal Management System and the end-to-end Securitization and Reconstruction of Financial Assets and Enforcement of Securities Interest Act, 2002 (also known as the SARFAESI Act) process.
• Handle customer escalations during crisis management and provide ad hoc legal requirements to the other functions to improve overall service to customers.
• Enable empanelment of external technical and manpower vendors from a legal standpoint.
• Arrange for requisite court orders for the Bank whenever necessary.
• Custodian for all Retail Legal affairs.
• Ensure the successful adoption of internal compliances & regulatory framework across the business.
• Collaborate with the Head of Collections to drive down the net credit loss and delinquency metrics.
  
  

Secondary Responsibilities

• Champion the adoption of high quality market intelligence and data analytics to promote product, solution and process effectiveness in line with the banks growth/profitability objectives.
• Recommend improvements to processes and policies across the Retail Banking business to drive operational efficiencies and high quality customer service.
• Keep abreast with global market trends and competitor strategies in key markets.
• Leverage cross sell and branch synergies through collaboration with internal stakeholders.
• Spearhead initiative to reduce operational costs and drive strategies to increase profitability
  
  

Managerial & Leadership Responsibilities

• Monitor key parameters on productivity, hiring quality and attrition rates and make necessary improvements.
• Champion IDFC First's customer first culture by driving the team to take up high degree servicing norms to ensure absolute customer delight.
• Attract and retain best-in-class talent for key roles in their reporting structure.
• Drive co-operation with the credit, technology, analytics and risk teams to ensure smooth functioning of business.
  
  

Educational Qualifications

Graduate – Any

Post Graduate – MBA Finance

Professional Degree – LLB/LLM

Experience

10+ years of experience in collections.