Head Collection Legal & Litigation_Mumbai

Basic Details: Fill the required information about business, unit, location, position, reports to position and date of updation of JD

Business

Financial Services

Unit

Aditya Birla Finance Ltd.

Location

Mumbai

Poornata Position Number of the job

00154879

Reports to: Poornata Position Number

Poornata Position Title of the job

Head Litigation – Retail - RCMB

Reports to: Poornata Position Title

Head – Collections RCMB

Function

Risk Management & Compliance

Reports to: Function

Risk Management & Compliance

Department

Risk & Legal & Collections

Reports to: Department

Risk & Legal & Collections

Designation Of The Employee

Head Retail Litigation – Retail - RCMB

Manager's Designation

Head – Collections RCMB

Date of writing/ Updation of JD

30th Jan 2023

• Job Purpose: Write the purpose for which the job exists (in 2-3 lines) (Max 1325 Characters)
  
  

The National collections Head - Litigation will be accountable for preparing strategies for time bound and cost-effective legal actions and in ensuring that disputes concerned with company and other parties are properly resolved and settled. The incumbent will play key role in meeting recovery targets of entire retail portfolio through legal means.

• Dimensions: Mention quantitative or qualitative parameters that are relevant for the job and provide a better understanding of the scope and scale of the job.
  
  

Team Size

• 35 (Direct and Indirect)
  
  

Other Quantitative and Important Parameters for the job

• NPA Targets & Delivery of Recovery Numbers / Release of Provisions
• Formulation, Revision and Execution of Legal Strategy,
• No. of accounts – 50,000+
• Products – STSL, MLAP, STUL, PL, BIL, DIGITAL, THE, Vehicles Finance and other products which falls under Retail,
• Advising 4+ National Collections Managers/NCHs.
• Advising head of legal and Head of collections on strategic changes in loan agreements, if any, on account of changing litigation environment.
• Job Context & Major Challenges: Write the specific aspects of the job that provide a challenge (internal and external) to the jobholder in the context of the Business/Unit/Function/Department/Section ((Max 3975 Characters)
  
  

Organization Context

Aditya Birla Finance Limited (ABFL) is a lending subsidiary of Aditya Birla Capital Limited. ABFL is registered with RBI as a Systematically Important Non-Deposit accepting Non-Banking Finance Company (NBFC). ABFL is one of the top private diversified NBFCs in India. ABFL is one of the top private diversified NBFCs in India operating with several hundred of branches across India.

ABFL offers end-to-end lending solutions to a diverse set of customers - Retail, HNI, MSMEs, and Mid & Large Corporates through secured as well as unsecured loan products. The diverse range of lending products includes Retail Small Ticket Secured and Unsecured Loans, Unsecured Personal Loans, Unsecured Business Loans, Health & Education Loans, Digital B2B2C and B2B2B Small Ticket Loans, Small Business Secured Loans, Loans Against Property (LAP), Lease Rental Discounting (LRD), Construction Finance (to Real Estate Developers), SME Loans, Capital Markets Loans (Loan Against Shares), Supply Chain Finance, Mid and Large Corporate Loans, and Infrastructure Finance loans. ABFL also has a Wealth Management division.

ABFL is rated AAA by India Ratings, ICRA and CARE (reaffirmed in 2020). ABFL secured the ABG Business Excellence Award in 2017 (Silver), and 2015 (Bronze), and multiple other Awards on forums like CII.

Job Context

Collections function carries out monitoring of client wise exposure and portfolio exposure to identify early warning signals of stress and to minimize NPAs. This monitoring is done by dedicated teams who specialize in managing delinquent customers who have come under financial stress due to unfavourable market events / changes in business patterns and as well as from those customers who have intentionally stopped payment of dues with mala-fide intentions. It also carries out overdue loan recovery from defaulting clients.

The litigation vertical plays a crucial role in driving NPA recoveries and meeting ECL and recovery targets. National Litigation Head will drive all Collections Litigation for entire Retail Portfolio – both Secured & Unsecured.

Given that the environment of regulatory & legislative developments that the organisation operates in is very dynamic, the litigation department has constantly be up to date with changes, expected changes and prepare the organisation for the same. This position involves close association and coordination with business heads. He/she would be expected to have a thorough understanding of the company's goals, strategy, business and products to perform effectively, think ahead and assess the legal implications of the same & align legal function with business objectives.

Specific challenges—

• This role plays an important role in mitigating risk that may arise from litigation.
• In dealing with court matters, the individual must have persistency and a seamless understanding of the matter.
• Managing risks at the local level, including dealings with local law enforcement
• Ensuring the availability of the correct knowledge and talent for dealing with critical matters
• Key Result Areas: Write the key results expected from the job and the supporting actions for each of these key result areas (For a majority of jobs typically there could be 4- 7 key result areas)- Maximum 10 KRAs can be updated
  
  

Key Result Areas (Max 1325 Characters)

Supporting Actions (Max 1325 Characters)

Devise strategy towards achieving favorable outcomes for the company in litigation matters

• Strategize along with Regional Litigation Managers the approach for handling cases
• Review drafts for customer notices for recovery, lapses, defaults, covenant breaches
• Review responses to notices from customer, statutory authorities & regulatory bodies (RBI, ED, EOW, Income Tax, Police, etc.)
• Ensure effective management of enforcement of security
• Ensure effective Arbitration, defend cases filed against company, and provide strategic direction in the section 138 cases filed
• Appoint quality counsels/law firms & ensure they provide quality services
  
  

Litigation Management

• Develop & implement strategy towards achieving favorable outcomes for the company in litigation matters
• Respond to notices from customer, statutory authorities & regulatory bodies (RBI, ED, EOW, Income Tax, Police etc)
• File section 138 cases-draft notices (dunning, statutory notice), filing of complaint, giving evidence, attending hearings
• Defend cases filed against company should the need arise
• Appoint & brief counsels/law firms
  
  

Manage Arbitration Cases To Ensure Favorable Outcomes For Company

• Identify & appoint appropriate arbitrator for arbitration cases
• Draft claim statements
• File/defend interim relief
• Giving evidence on behalf of the company
• Prepare & file appeals/counter appeals
• Attend hearings, execution of awards
  
  

Effectively manage SARFAESI foreclosures and NCLT/IBC matters

• Manage all legal tools for Retail including SARFAESI Foreclosures, including repossessions & liaisoning, Sec 138, Sec 25, Arbitration, Lok Adalat campaigns
• Issue statutory notices and Provide replies to the notices received
• Facilitate re-possession of assets
• Liaise with local authorities to get appropriate orders/support
• Conduct sale of repossessed asset by through various options
• Attend COC and court hearings for certain cases
• Take decisions on behalf of company for voting on issues
• Participate in Liquidation process
  
  

Design policies & guidelines; Ensure process efficiencies in the Litigation function

• Prepare litigation MIS & regularly review with NCH Strategy and Head Collections
• Ensure effective internal policies & guidelines are drafted in consultation with stakeholders for handling litigation
• Ensure there is compliance to policies & guidelines for litigation management across the company
• Ensure SOPs are drafted for all litigation activities like settlements
  
  

People Management

• Provide oversight and be a coach and mentor for the team
• Ensure regular functional & behavioral trainings of team members in collaboration with HR
• Participate in relevant talent management and people development activities to ensure a healthy pipeline and an engaged team
• Reduce dependence on external counsel by developing in-house legal expertise
• Ensure department costs are within budgets
• Ensure development of robust knowledge management processes
• Ensure that the team keeps itself updated on changing legal environment
  
  

Advising senior management

• Advising Head of Legal and Head of Collections on strategic changes in loan agreements, if any, on account of changing litigation environment.
• Job Purpose of Direct Reports: Describe the job purpose of the direct report/s to the job (in 2-3 lines for each report)
  
  

Lead Litigation (Count 4): To manage central Litigations by and against the company, guide the team, coordinate with national level stakeholders.

Regional Legal Managers (Count 4): To manage Field Litigations by and against the company, guide the team, manage regional level stakeholders.

Central MIS Manager (Count 1): To manage data for entire litigation cases across field locations and central litigation.

• Relationships: Describe the nature and purpose of most important contacts or relationship (except superior/team members) with individuals, departments, organizations inside and outside of the organization, that job is required to interact with in order to deliver the job objectives
  
  

Relationship Type Frequency Nature

Internal

Collections Strategy Head

Regular

Legal Strategy & periodic review of Legal effectiveness and changing judicial market conditions

Credit / Underwriting Teams

Regular

Feedback on SARFAESI and property / realty prices in markets

NCMs

Regular

Close coordination, identification & account –level legal strategy and execution in Secured and BIL / PIL products.

Business Heads

Monthly / As needed

Legal Updates to BH's

Head – Legal

As needed

Legal issues / guidance as and when needed

External

Collections Agencies

Regular

Repossession Agencies – for physical possessions of Properties

External Counsels

Regular

Competent Counsels across the county for empanelment and legal process management

Judicial Bodies

As needed

Liaison officers, DM / CMM Courts and Appellate Tribunals

Regulatory Bodies

As needed

RBI / NHB

• Organizational Relationships: Provide the structure for a level above and below the position for which this job description is written. Use position titles in the structured and indicate all the reports of the position.
  
  

SIGN-OFF: Provide the name of the Manager and the jobholder. Signature needed for the hard copy of the JD. Hard copy to be maintained in the organizational record.

Job Holder

Reports to (Manager)

Name

Date of Entry / Approval