Legal Manager with HSBC (Bengaluru)

Deadline Open Deadline

Location Mumbai, Maharashtra.

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

Details of the Organization

They're a financial services organisation that serves more than 40 million customers, ranging from individual savers and investors to some of the world’s biggest companies and governments.

Details of the Job/Internship

HSBC is looking for a candidate for the position of Legal Manager with 5+ years of experience.

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. 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 Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act of 2002Act, Debt Recovery Tribunal, Payment and Settlement Systems Act, Lok Adalat, Insolvency and Bankruptcy Code, 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.
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.

Eligibility

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
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.