The role of Manager, Legal – Debt Recovery & Special Assets is crucial for safeguarding SBM Bank’s interests from legal and contractual liability. The job holder is responsible for the effective and efficient management of potential and ongoing Debt Collection litigations filed by and against the Bank, providing sound legal advisory, and managing related legal risks. They also assist in conducting legal research, reviewing existing and new statutes, and advising on emerging legal issues to ensure statutory and contractual compliance by the Bank.
Key Responsibilities
Dispute Resolution and Litigation Management
- Defending and managing cases filed by and against defaulting debtors, pursuing alternative dispute resolution mechanisms, and coordinating with external counsel on resolution of cases and recovery of claims.
- Managing potential litigations and overseeing cases filed by and against the Bank, coordinating with external counsel and cross-functional departments on the resolution of claims.
- Pursuing arbitration or alternative dispute resolution (ADR) mechanisms like mediation or negotiation to resolve legal disputes.
- Preparing legal documents, conducting legal research, collating evidence, and facilitating preparation of in-house witnesses for pre-trial and hearing. Prepare legal briefs and opinions in liaison with external counsel.
- Maintaining accurate records of all legal matters and disputes and updating the litigation tracker on ongoing litigations being handled by external counsel on behalf of the Bank, providing reports as required.
- Updating the database of all non-debt recovery litigation to ensure it is consistently updated and provide required reports.
- Ensuring proper filing and custody of legal documents, agreements, and correspondence.
- Scrutinizing fee notes raised by external counsel to ensure they are in accordance with the Service Level Agreement (SLA).
Administrative Responsibilities
- Handling and exchanging daily correspondence with Branches and other Departments of the Bank.
- Maintaining and constantly updating a record of the Bank’s Litigations and status thereof.
- Issuance of demand letters and Statutory notices to customers.
- Training staff on Debt Collection, Securities, and other matters of a legal nature in liaison or collaboration with external counsel.
- Representing the department in certain meetings when called upon and as delegated from time to time.
- Conducting workshops for specific needs of business units.
- Representing the Debt Recovery Unit (DRU) & Special Assets Department in Company projects that require legal input.
- Responsible for providing legal counsel to the DRU & Special Assets team, participating in strategic initiatives, providing subject matter expertise (in particular, on credit, insolvency and bankruptcy issues) and interpretations of relevant laws, rules, regulations, and industry practices, and advising business management on legal matters impacting the business.
- Providing legal support to DRU & Special Assets in its evaluation of distressed situations, including assisting in overall strategy and review of credit/collateral documentation.
- Working with the DRU & Special Assets Team for the recovery and collection of a portfolio of Non-Performing Loans and ensuring the bank recovers monies owed.
- In liaison with the Head of Legal, instructing external lawyers to sue for recovery of outstanding debts if unsecured or when appropriate.
- Developing and implementing effective defense strategies, arguments, and testimony in preparation for legal proceedings of cases in liaison with external lawyers, assisting in the preparation of required pleadings, and regularly updating the litigation report. Constantly evaluating and monitoring the Litigation turnaround time (TAT) and liaising with the Company’s external Lawyers.
- Attending Court hearings of critical cases filed by and against the Bank.
- Assisting in drafting and reviewing bank-wide legal related documentation for use by the Company, including loan securities, leases, and contracts, and constant evaluation & monitoring of agreements that the Bank is party to mitigate legal risk of non-compliance with continuing obligations.
- Providing legal advisory services to the DRU & Special Assets and guiding the team in ensuring implementation of the legal requirements.
- Liaising with investigators, valuers, debt collectors & external lawyers on debt collection, and instructing external lawyers to sue for recovery of outstanding debts if unsecured or when appropriate.
- When required, representing the Bank in courts, tribunals, arbitrations & other legal fora.
- Monitoring and following up on emerging legislation, advising the Bank on the impact of existing and newly enacted legislation on the Bank’s overall activities, and providing guidance to management and the Bank on the law, legal matters, rules, and regulations affecting the Bank, its projects, and its operations and ensuring legal compliance thereof.
- Periodically assessing the advocate’s performance against the SLA signed between the Bank and the Advocates.
- Training and capacity building fora for SBM Bank staff members, and managing legal opinions and FAQs to staff.
General Legal Advisory and Legal Risk Management
- Providing strategic legal advice on a range of legal issues impacting the Bank, including analyzing, identifying, and advising on legal risks.
- Ensuring that customer KYC processes and account transactional legal issues (searches on institutions, advisory on account opening KYC processes and documents, etc.) have been well undertaken.
- Ensuring compliance with applicable laws, regulations, and internal policies, and staying updated on legal and regulatory changes.
- Rendering legal guidance to Corporate and Retail units on matters relating to bank policies, processes, and procedures on all queries received with a view to mitigating legal and reputational risks.
- Creating legal awareness to the various business units of the Bank on major legal reforms and emerging legal areas affecting the usual banking business.
Customers of this Position
- Branches
- All Departments
- External Advocates
- Regulatory Bodies
- Companies/Banks
- Courts and Court Registries, Lands & Company Registries, Customers and any other service providers/stakeholders that this role may require interaction with.
Knowledge, Skills and Experience Required
Job Knowledge
- In-depth understanding of the court process.
- Knowledge and ability to conduct alternative dispute resolution mechanisms.
- In-depth knowledge of regulatory legislation affecting financial institutions.
- Knowledge of the provisions of the Companies Act, the Banking Act, Central Bank of Kenya Act, Civil Procedures Act, Capital Markets Authority Act, the Retirement Benefits Authority Act, and all relevant laws & statutes affecting the Company's Operations and amendments thereof from time to time.
- Knowledge of the Company's Products & Services.
- Knowledge of the Company’s Operating Procedures, Company’s policies & Provisions of The Staff Manual.
Job Experience
- An Advocate of a minimum of 6 years’ experience, practicing in a busy commercial litigation-oriented law firm or in-house legal department of a financial company.
- Working knowledge of the legal environment for Banking and general business/commerce in Kenya.
- Working knowledge of the lending practice for financial institutions, particularly lending to the different market segments – corporate, SMEs and retail banking.
- Working knowledge of business management and banking acquired through practical experience, seminars, and courses.
- Participant in Continuous Education programs under both the Law Society of Kenya and ICPSK.
- Working knowledge of banking business acquired through working in a banking institution.
- Participation in facility structure meetings, due diligence exercises, and management of nonperforming loan portfolio.
- Proven track record in legal risk management and dispute resolution.
- Demonstrated success in managing and closing a variety of litigation matters.
Education Qualification
- Bachelor of laws from an accredited university recognised in Kenya. (Master of Laws desired but not mandatory).
- Advocate of the High Court of Kenya with 6 years post admission experience.
- Post graduate Diploma from the Kenya School of Law.
Other Qualifications
- Commissioner for Oaths and Notary Public.
- Should possess great IT skills.
- Registered CPS with the Institute of Certified Secretaries of Kenya (an added advantage).
Competencies required for this Role
- Excellent communication (Oral and written) and excellent presentation and negotiation skills.
- Excellent analytical and legal drafting skills.
- Ability to work under pressure, agility, accuracy and attention to detail.
- Team player with a collaborative spirit.
- Excellent planning, strategic and organizational skills.
Budgetary Responsibilities
- Ensuring successful defense of claims filed against the Bank.
- Management of legal costs within the allocated budget.
- Annual Targets with review every six (6) months.
