Legal Officer – (Faulu Microfinance Bank) at Old Mutual

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Old Mutual is a firm believer in the African opportunity and our diverse talent reflects this.

JOB PURPOSE STATEMENT

Reporting to the Head of Legal Services, The Legal Officer will be responsible for providing effective legal support to the institution, ensuring compliance with all statutory and regulatory requirements, and safeguarding the institution’s legal interests. The role entails contract management, credit documentation, litigation handling, regulatory liaison, and corporate governance support.

KEY MEASURABLE GOALS

• Leadership

• Legal Risk Management

• Regulatory monitoring

• Management of litigation

• Documentation and perfection of securities

• Support in Credit Statutory Debt Recovery processes

• Stakeholder Engagements - Directors, Regulators, Shareholders, Industry player

KEY RESPONSIBILITIES

a) Leadership role

• Provide leadership and ensure efficient and effective management of staff and resources reporting to job holder including mentorship, coaching and training.

• Liaise with the Head of Legal Services in conducting performance appraisals and ensure competency and training gaps are addressed.

• Represent the Head of Legal Services in various internal or external meetings or committees when called upon.

• Provide monthly and quarterly reports to the Head of Legal Services on job holder duties.

b) Litigation management

• Maintain and update the database of cases and management of litigation

• Review progress of outstanding litigation and liaise with on appropriate strategies for cases.

• Collate documents and any evidence, identify and prepare witnesses in support of Bank cases

• Diarize hearing notices for pending cases, follow up and update of outcome thereof to Head of Legal Services, Debt Recovery Unit (DRU) and Branch (where applicable).

• Provide support to the Debt Recovery Unit in various recovery processes including but not limited to: -

• Ensure compliance by DRU team on the necessary statutory requirements and processes.

• Review and issuance of statutory notices

• Legal advisory of various recovery matters

• Manage external counsel handling various litigation matters including is suance of instructions, timely drafting of pleadings, review of pleadings; review of advocates performance.

• Issuance of Legal opinions and advisory on various litigation matters.

• Negotiation of out of court settlement with external advocates.

• Management of legal costs associated with litigation.

• Attending Court and representing the company in legal issues when required.

• Review and manage demand letters from customers or third parties

c) Credit Documentation and perfection of securities

• Draft, review and ensure proper facility letters, Bank’s standard forms and templates, securities documentation and service level agreements and standard agreements, properly drafted and legally enforceable to ensure compliance to regulatory changes and general securitization requirements to safeguard the bank’s exposure.

• To capture, register, monitor, control and report all types of collateral offered by the customers and ensure that they are properly lodged for registration.

• Liaise with external legal counsel to ensure proper preparation, execution, registration and perfection of securities within the agreed TAT as per SLA.

d) Legal Risk Management and Advisory

• Provision of sound legal advise to the business/ staff on existing or emerging laws, operational requirements.

• Continually reviews, develops and refines legal policies and procedures to determine their suitability for the bank’s requirements and recommends modification and upgrading to meet the desired standards and changes in the bank’s risk profile.

• Participate in drafting and review of various risk policies and procedures to comply with the bank’s strategy and objectives

• Ensure any policy or identified regulatory breaches are properly authorized at the correct level

• Periodically do risk review of new and existing credit products and non-credit products with inherent risks and advise the management on remedial measures.

• Manage the performance and relationships of third- party legal service providers

• Monitor and manage Legal and Legal Product Risks within the business

• Liaise with relevant departments to ensure that where legal risks have been identified, appropriate courses of action have been taken.

• Provide and interpret legal information, conduct training and disseminate appropriate legal requirements to management and staff.

e) Corporate Governance and Board Support

• Assist in the preparation of board papers, minutes, resolutions, and statutory filings.

• Maintain statutory registers including registers of members, directors, and charges.

• Support the implementation of good corporate governance practices.

f) Bank-wide AML KYC & CFT Responsibilities

• Communicating and reinforcing the AML-CTF compliance culture established by the board.

• Implementing and enforcing the board-approved AML, KYC & CFT policy within the Department.

Staff Supervision Responsibilities

• Legal Contract Staff

Education

• Bachelor of Laws degree from a recognized University

• Post Graduate Qualifications- Diploma in Law

• Advocate of the High Court of Kenya with current practicing certificate

Experience

• At least five (5) years extensive legal experience either from the financial services sector or banking institution with extensive exposure to litigation, debt recovery and security perfection.

• Working knowledge of both the legal requirements and lending practice for financial institutions, particularly lending to the different market segments

• Exposure to CBK compliance requirements will be a definite advantage.

• Ability to work with minimum supervision 

Knowledge and Skills

• Technical Skills in Conveyancing and Securities documentation

• Litigation and Debt Recovery Processes.

• Ability to deal with and effectively Manage Senior Stakeholders confidently.

• Proficiency in Computer Skills.

• Strong Oral and Written Communication skills.

• Honest, Transparent and demonstrate high level on integrity.

Take responsibility for managing and delivering a designated legal case work program.

Provide specialist advice on the interpretation and application of policies and procedures, resolving queries and issues and referring very complex or contentious issues to others.

Organize and prepare complex documents using a variety of applications for technology devices, such as standard office software. Also responsible for gathering and summarizing data for special reports.

Help others get the most out of internal communications systems by offering support and advice.

Help others get the most out of external communications systems by offering support and advice.

Advise managers how to apply a wide variety of existing procedures and precedents.

Interpret data and identify possible answers. Involves navigating a wide variety of processes, procedures, and precedents.

Work within established procedures to achieve specified goals.

Build effective working relationships within the internal client organization, delivering high-quality professional services with guidance from senior colleagues.

Develop own capabilities by participating in assessment and development planning activities as well as formal and informal training and coaching; gain or maintain external professional accreditation, where relevant, to improve performance and fulfill personal potential. Maintain an understanding of relevant technology, external regulation, and industry best practices through ongoing education, attending conferences, and reading specialist media.

Skills

Competencies

Closing Date