The Legal Officer is responsible for providing legal support and advice to the bank on various legal matters. This role includes reviewing, drafting, and negotiating contracts and agreements, ensuring compliance with regulatory requirements, and managing legal risks associated with the bank's operations. The Legal Officer will also be involved in litigation management, representing the bank in court, and providing legal opinions and recommendations to senior management.
· Follow up of SMA / NPA accounts with branches for recovery on daily basis by referring system based report to recover or avoidance of slippage. Coordinating other Recovery officers in the matter of recovery.
· Follow up of DRT/Civil suits/ Suit Against Bank / Consumer Complaints before Consumer Forum by co-ordinating with advocates.
· Plaint/OA approval for filing suits. Follow up letters with branches in NPA / Legal matters including documentations.
· Preparation/Sending demand notices under SARFAESI Act, its publication in newspapers, taking symbolic possession of properties, entrusting to advocates / agents for seeking permission for Physical possession from CJM / District Magistrate, Tender cum Auction / E auction of properties to ensure recovery in NPA accounts by duly following the procedural guidelines prescribed under the Act.
· Clarifying the branches in the matter of Documentation / General legal matters with departments.
· Attending to Complaints of customers, Banking ombudsman, Consumer Education and Protection cell of RBI, lodged with CO under copy to us & getting approval of draft reply from Internal Ombudsman / OD / Legal departments before sending it to the parties/RBI.
· Liaison with DRT, attending in person to DRT for significant cases, Updating of OA / SARFAESI matters and updating to Legal / SAMD by following up with advocates.
· Attending to criminal complaints and its follow up for getting details from branches for submission to them especially CCB/DCB cases referred.
· Submission of Statements or reports / Monthly / (RBI) Quarterly statements as per SAMD / LEGAL Department directions.
· Quarterly Staff accountability reports to central office for below Rs.25 lakhs NPA Accounts.
· One time settlement taken by branches-Follow up, Scrutiny and placing note before Authorities for their approval.
· Organizing OTS Meeting / Bank Adalat / Lok Adalat for settlement of NPA Accounts.
· Entrusting recovery work to Recovery agents for seizure, etc by issuing orders and its follow up.
· Monitoring Legal Consultant works towards issuing of LC/ICC/FEC/Death Claim/BG for the accounts.
· Issuance of FEC/Legal clearance/ICC.
· Settlement of death claims.
· Quarterly Legal Audit Reports.
· Co-ordinating with branches to complete the RMS data entries.