JOB POST: IDFC FIRST Bank Is Hiring Regional Legal Debt Manager In Delhi, Delhi, India.

Spread the love

Post Views: 64

Table of Contents

About the Organisation

Formed in December 2018 through the merger of infrastructure finance giant IDFC Bank and retail finance specialist Capital First, we commenced commercial banking operations in 2016. Our core principles: Vision: Building a world-class bank in India, driven by ethical, customer-friendly, digital, and socially responsible banking principles. Universal Bank: Offering a comprehensive range of services like Retail, MSME, Rural, Startups, Cash & Wealth Management, Deposits, Corporate & Government Banking, Working Capital, Trade Finance, and Treasury Solutions. Ethical Banking: We follow a ‘Near and Dear’ test, ensuring products are customer-friendly enough for employees to recommend to loved ones. We simplify legal jargon for clarity and offer ‘ZERO FEE Banking’ on all savings account services like SMS alerts, IMPS, RTGS, NEFT, ATM withdrawals, and more, making it India’s 1st & only bank to do so. Customer-Friendly Banking: IDFC FIRST Bank credits monthly interest on savings accounts, offers lifetime-free credit cards with non-expiring rewards and transparent fees. Technology-led Banking: Seamless services across mobile, branches, internet banking, call centres, & relationship managers. Our mobile app, with 250+ features, is rated 4.8 on Google Play & the App Store. Global rating agency Forrester ranked it India’s best & among the world’s top 20 for two consecutive years. Social Good Banking: Focusing on financial inclusion, we serve 40M+ customers, with 16M lifestyle improvement loans,15M loans to 4.3M women entrepreneurs, 6.5M vehicle loans, 1M each for sanitation & livelihood, 300K SME, and 100K home loans. ESG Goals: We hold high ESG scores, demonstrating our commitment to financial inclusion & social responsibility. Creating a new-age, ethical and world-class institution for India is a privilege for its employees.

About the Job Opportunity

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 Liaoning 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.

Job 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.

Eligibility & Qualifications:

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.