To provide legal advice and support to India management, functions and businesses particularly in relation to Digital Banking, development of banking and other financial services products, services, transactions, governance and risk-management across India. Develop an effective legal function across & support the Legal & Compliance Department to identify and manage legal risk.
Provide pragmatic and effective legal advice to manage legal risk across India specifically for Digital Banking. Review standard legal documentation used by the consumer banking business to ensure that it is legally appropriate. Draft, review and negotiate legal documentation for particular projects, transactions and products contemplated by Digital Banking and other business and support functions.
Participate in the development of processes, policies and procedures designed to reduce legal risk and/or increase the efficiency of the team. Proactively advise on and help to manage important changes in law and regulation.
Assist in developing and delivering a strategic legal risk management framework, including: embedding a legal risk reporting framework and training for the business on relevant developments in banking and financial services law and regulation.
Assist in identifying and meeting management information requirements for the measurement of legal risk exposure, performance (both of internal and external legal resources) and productivity regularly and on an ad hoc basis and then interpret data, make recommendations and present to the business in a format as required.
Job Duties & Responsibilities:
Assist in roll out and implementation of Bank's Digital Project in India and providing support once it is rolled out.
Set out processes and policies including amending and reviewing the existing processes and policies for Digital Project.
Drafting, reviewing, negotiating agreements for particular projects, transactions and products contemplated by Digital Banking team including with various agencies, vendors and other business and support functions.
Standardising and finalising terms and conditions for various products offered to Digital Banking customers.
Proactively advice the Bank to take all actions as may be necessary or desirable to ensure the Bank maintains all necessary licences and permissions and is compliant with all applicable law and regulation with respect to Digital Banking.
Promptly provide updates of all material changes in applicable law and regulation as it relates to the Bank, its operations and business.
Liaison with various authority or other third parties in implementation of Digitial Project for India.
Ensure necessary formalities are completed to maintain data protection compliance, and advise the Bank to do all necessary acts and things in such regard.
Embed the Legal Risk and Principle Risks Standard in the business and ensure that the policies are adhered to.
Ensure that all aspects of legal risk are identified, covered and controlled in the implementation of new projects, systems, procedures and products for the Indian market.
Responsible for the quality of legal advice given, reviewing projects as required to ensure consistent content, cost and timing standards.
Provide legal advice to business and support units as required, to ensure that legal issues are identified and resolved, and that legal risk is managed appropriately within India
Ensure best practices are adopted and guidelines complied with and that all activities comply with applicable laws, rules and regulations
Manage external legal resources in terms of cost, including settlement of external legal fees.
Proactively forge relationships with a broad range of business areas and third parties in order to encourage the best quality output and service from the team
Monitor "client satisfaction'' and the legal effectiveness of specific transactions
Share know-how and experience with other legal advisers within the team and elsewhere within the legal function, including participation in any global practice groups relevant to role and expertise.
Resolution of queries in relation to products and services offered by India specifically Digital Banking.
Desired Skills and Experience
Qualified lawyer with post qualification experience in banking law or other related areas of law.
Good academic grounding.
Knowledge of Information Technology Act, 2000 and Rules
Education / Preferred Qualifications:
A Graduate with LLB/ LLM or other recognized legal degree with at least
3-8 years work experience in Banking/ financial service industry or a law firm.
Excellent diagnostic skills and rigorous approach to problem solving
Excellent communication and negotiation skills at all levels, especially drafting & writing skills
Excellent comprehension skills to understand and interpret industry data and economic trends
Strong formal presentation skills to gain acceptance to solutions, both internally and externally
Attention to detail & Tenacious
Ability to think creatively and identify innovative solutions;
Should have a stable mindset to handle issues and ability to think through a problem.
Should be able to identify and forecast legal & compliance risks / rewards, in line with proposed business growth & find solutions.
Financial knowledge of banking and financial services law, contract act, Information Technology Act 2000 and general RBI regulations
Strong technical ability & ability to grasp new technical areas of law very quickly
Ability to understand and think out of the box to provide solutions and way forward for innovative products
Ability to accept change and embrace innovation
Sound knowledge of the overall banking environment
Must have overview of the applicability of various statutes/ laws applicable.
Close working relationship with business heads, product owners & internal support functions to sign off & ensure compliance for all products & services offered by India and Digital Banking
Establish a working relationship with Legal & Compliance team in Singapore.