DBS Bank
Website:
dbs.com
Job details:
Job Description / Requirements Key responsibilities
- Vendor management- Assess and appoint new legal vendors as per bank policy
- Renew existing legal vendors basis internal review on performance
- Track blacklisted legal firms to ensure that the partners / individuals are not engaged with DBS without explicit approval from DBS Internal legal team.
- Maintain MIS for total of empaneled vendors and track dormant vendors, if any; further steps like de-empanelling to be done in suitable cases of dormant vendors.
- Track changes in vendor firm composition and initiate necessary actions.
- Feedback to vendors regarding end to end TAT management from legal verification initiation to final signed legal report submission.
- Invoice processing of legal vendors within agreed time lines.
- Documentation- Check and update existing ultimate borrower documentation for various mortgage products
- Circulate standard document set to business team and to procurement team for printing
- Drafting and circulating appendix or addendum in cases of regulatory requirements till exising document sets are updated
- Hidnsight function - Title search and ownership verification on sample basis for each branch, basis legal vendor reports on below parameters- Clear and marketable title for ultimate borrower(s)
- SARFAESI applicability
- Continuity of title for minimum specified number of years
- Other parameters specified for particular location
- Advisory function- Business teams on case specific issues basis remarks from external legal vendors
- Product team on new products to be launched
- Credit team on deviations in legal reports
- Customer service teams on legal notices received from customers
- Risk and compliance – identify, assess and mitigate legal risks; ensure adherence to location specific regulatory requirements
- Collections- Advise collections team to initiate legal proceedings on defaulting customers witin timelines – Sec 138 / SARFAESI / Arbitration
- Co-ordinate with local external legal vendors on NDOA(Next Date of Action) for each case and maintain case with summary at central level for monthly review
- Draft necessary intimation letters for completion of process of property repossession, auction and final disposal of property
- Fraud prevention- Enhance process to identify potential fraud cases at legal document verification stage
- Advise business and collections teams on next steps in case of identification of fraud
Qualifications
1. Law degree or equivalent certifications
2. 7 to 10 years experience in similar role in bank or NBFC
Other requirements
0. Willingness to travel
Location:
Regional Office Chennai
Job:
Risk Management.
Schedule:
Regular
Employee Status:
Full time
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