Legal Collection Manager with HSBC

Deadline Open Deadline

Location Bengaluru, Karnataka, India.

Salary Compensation details will be finalized during the interview process with the selected candidate.

Details of the Organization

HSBC is a global financial services organisation serving over 40 million customers, ranging from individual savers and investors to some of the world’s largest companies and governments. Operating in 58 countries and territories, HSBC leverages its unique expertise, capabilities, and global reach to open up a world of opportunity for its customers.

Details of the Job/Internship

HSBC is hiring a Legal Collection Manager with 5+ years of experience to oversee all legal matters related to the recovery and management of secured and unsecured loan portfolios in its Bengaluru office.

Role and 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, and document these changes 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.