AVP / Sr. Manager

Job Summary

The AVP / Sr. Manager will be responsible for the overall debt control, recoveries, and collections of Non-Performing Assets (NPAs). This role involves making and implementing collection strategies aligned with company objectives, managing NPA accounts through physical possession and sale of property as per SARFAESI (Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest) guidelines, and ensuring compliance with Reserve Bank of India (RBI) prudential guidelines related to Asset Reconstruction Companies (ARC). The position requires strategic planning for actions under the SARFAESI Act, handling objections, possession/foreclosure processes, and pursuing cases before Debt Recovery Tribunal (DRT) and National Company Law Tribunal (NCLT) where necessary.

Responsibilities

• Evaluate NPA accounts by taking physical possession and managing the sale of properties in accordance with SARFAESI guidelines.
• Issue notices and replies to notices related to recovery and possession processes.
• Ensure compliance with ARC-related prudential guidelines prescribed by the RBI.
• Develop and implement collection strategies to achieve company objectives.
• Strategically plan and execute actions under the SARFAESI Act, including issuing initial notices, handling objections, and managing possession and foreclosure proceedings.
• File and prepare legal drafts for cases under various Acts such as DRT and NCLT.
• Take up cases before DRT and file suits for possession and recovery of properties in eligible delinquent mortgage cases.

Qualifications

• Educational Qualification: LLB or LLM degree.
• Strong knowledge of SARFAESI Act, Insolvency and Bankruptcy Code (IBC), NCLT rules and regulations.
• Experience in handling NPA cases within Asset Reconstruction Companies (ARC), Banking, Non-Banking Financial Companies (NBFC), or Financial Institutions.
• Proficient in drafting and vetting legal documentation ensuring adherence to legal compliances.
• Skilled in issuing 13(2) notices under SARFAESI Act 2002 and Section 101 final notices to borrowers and guarantors.
• Proven proficiency in MS Office, especially Excel.
• Command over the local language relevant to the location.
• Strong conflict resolution skills and good negotiation abilities.
• Eye for detail and flexibility with leadership insights.

Preferred Skills

• Exposure to litigation processes is desirable.
• Strong network across various departments related to recovery and legal proceedings.
• Experience in sale of assets through DRT process under recovery proceedings.
• Effective and transparent management capabilities.

Experience

• 8 to 10 years of relevant experience in SARFAESI Act, IBC, NCLT, and handling NPA cases in ARC, Banking, NBFC, or Financial Institutions.

Environment

• Location options include Mumbai, Chennai, and Kolkata.
• Full-time position reporting to the Vice President.
• Work environment involves coordination with legal, recovery, and regulatory departments, requiring flexibility and leadership.

Benefits

• Not specified.

Salary

• Not specified.

Growth Opportunities

• Not specified.