Head Collection Legal & Litigation Mumbai (Goregaon)

Job Description: 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 Managers Designation: Head Collections RCMB Date of writing/ Updation of JD 30th Jan 2023 1) 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. 2) 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. 3) 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 setting 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 companys 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 .