Job Description: Collections & Legal Manager (BFSI, Lending)
Location: Mumbai, India
Job Type: Full-Time
Experience: 5+ Years
• Educational Qualifications:
o LLB (Bachelor of Laws) degree from a recognized institution.
• Experience:
o Minimum 5 years of experience in collections in the BFSI sector, with a focus on lending.
o Proficient in Section 25 legal proceedings, Arbitration, and filing police complaints for financial delinquency and fraud.
o Demonstrated success in managing 90+ collections and delivering on recovery performance in high-pressure environments.
Position Summary:
The Company is seeking a highly skilled Collections & Legal Manager with a robust background in BFSI (Banking, Financial Services, and Insurance), particularly within the lending domain. The ideal candidate will have significant
expertise in legal collections, including handling Section 25, Arbitration, Police Complaints, and managing 90+ collections. The role will involve overseeing the collections process, driving legal actions, and ensuring compliance with applicable regulations to maximize recovery rates and minimize legal risks.
Key Responsibilities:
• Collections Management:
o Led and managed collections for high-risk loans and overdue accounts, ensuring the effective recovery of 90accounts.
o Develop and execute strategies to recover defaulted accounts, meeting collections targets and KPIs.
• Legal Expertise:
o Provide expert guidance on the legal aspects of collections, ensuring full compliance with Indian laws and regulatory requirements.
o Drive legal actions such as Section 25 recovery processes, arbitration proceedings, and filing of police complaints for fraud or default.
o Draft and review legal documents related to collections, including demand notices, legal notices, and settlement agreements.
o Represent the organization in arbitration hearings and collaborate with external legal counsel to ensure favorable outcomes.
• Stakeholder Management:
o Work closely with internal teams such as Risk, Compliance, and Operations to ensure seamless management of collections and legal matters.
o Engage with external legal partners, collection agencies, and enforcement authorities when required.
• Regulatory Compliance & Reporting:
o Ensure compliance with BFSI regulations, including lending and collections guidelines, while ensuring the legality of all collection processes.
o Provide regular performance reports to senior management on collection efforts and legal proceedings.
• Performance Optimization:
o Continuously assess and enhance collections strategies to maximize recovery rates and resolve accounts in a timely manner.
o Analyze collection data trends, implement process improvements, and ensure best practices are followed.
Key Requirements:
• Skills & Competencies:
o Strong understanding of lending regulations, legal compliance, and collections strategies within BFSI.
o Deep knowledge of legal procedures and enforcement actions required for effective collections.
o Excellent negotiation and communication skills to resolve conflicts and negotiate settlements.
o Proficiency in using collections software, CRM tools, and MS Office Suite.
• Personal Attributes:
o Ability to work both independently and within a team.
o Strong attention to detail with exceptional organizational skills.
o Proactive, results-oriented, and self-motivated to achieve targets.
Desirable Skills:
• Experience with Recovery Agencies, Recovery Laws, and Debt Recovery Tribunal (DRT)processes.
• Familiarity with NCLT (National Company Law Tribunal) procedures in corporate defaults.
Why Join Us?
• Competitive salary with performance-based incentives.
• Dynamic work environment offering exposure to a variety of legal and collections challenges.
• Opportunity for career growth within the BFSI sector while contributing to the success and profitability of the organization.
If you are a driven professional with the required experience and are looking for an exciting opportunity to advance your career in collections and legal management, we encourage you to apply!
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