Senior Legal Counsel - FINCA Microfinance

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Senior-legal-counsel-FINCA-Microfinance

Job Description

ESSENTIAL DUTIES AND RESPONSIBILITIES include the following. Other duties may be assigned.


I. Complying with Banking and Microfinance Regulation
  • Assist the Head of Legal & Company Secretary in determining the obligations of the subsidiary based on applicable banking and microfinance legislation
  • Assist the Head of Legal & Company Secretary in ensuring that the subsidiary's personnel and officers have all the information necessary for complying with legal obligations provided in banking and microfinance legislation, proposing policies and actions to accomplish such goals
  • Assist the Head of Legal & Company Secretary in reviewing internal documents and policies to ensure they are drafted in accordance with applicable law
  • Reviewing and preparing, as necessary, contracts and documentation used by the subsidiary in the business of providing microfinance services to its clients
  • Assisting in the preparation and drafting of reports and communications to the regulator
  • Staying abreast of new banking and microfinance legislation and regulation applicable to the subsidiary
  • Perform all other duties assigned to him/her by the Head of Legal & Company Secretary.

II. Loan Recovery Management
  • Design and implement a recovery procedure for the collection of delinquent loans that is compliant with applicable law.
  • Perform periodic review of the recovery policy and procedures to ensure compliance with applicable law and FINCA International global policies.
  • Design and implement a collateral management procedure that is compliant with applicable law, including the verification, valuation and registration, as applicable, of the collateral, and collateral disposal as necessary.
  • Prepare annual budgets for recovery activities
  • Assist in drafting legal demand letters to defaulting clients.
  • Participate in weekly and monthly planning and review of recovery activities, recovery performance analysis & make recommendations of measures to improve recovery rates.
  • Liaise and provide oversight to the Recovery Manager, Recovery Officers and the branches on all recovery and collateral disposal matters, ensuring compliance with applicable law and Company policies and procedures
  • Ensure that all collaterals are attached and sold in accordance with applicable law, established policies and procedures and proceeds from the sales are remitted/banked to FINCA on time.
  • Prepare regular and exceptional reports on the status of recovery activities.

III. Representing the subsidiary before courts and administrative agencies
  • Representing the subsidiary before local authorities and courts, as required
  • Maintaining resources and overseeing collection litigation and fraud prosecution, in keeping with applicable law and the Company’s policies
  • Pursuing claims by the subsidiary as determined and defending the subsidiary against claims by third parties
  • Oversight to the outside lawyers
IV. Legal Policy and Procedures
  • Assist the Head of Legal & Company Secretary in reviewing internal documents and policies to ensure they are drafted in accordance with applicable legislation
  • Contribute to the continuous stocking of the legal library
  • Obtain statutes on a monthly basis from Tanzania National Gazette

V. Agreements
  • Assist the Head of Legal & Company Secretary in reviewing and drafting documentation and contracts related to the day-to-day activities of the subsidiary, especially as to documents for loans to the subsidiary’s clients but also including other documents such as leases, sales and services agreements, ensuring that the documentation protects the company’s interests and complies with applicable law
  • Continuous Review of the form loan agreements and mortgages used by the branches to ensure that they contain no fatal errors, and continuous review of other banking forms and documents to ensure compliance with applicable law
  • Assist the Head of Legal & Company Secretary in reviewing agreements entered into with other financial institutions for provision/receipt of services of a financial nature e.g., collection accounts, check clearing, credit arrangements by banks etc.

VI. Training
  • Provide periodic training to the staff on topics such as Anti- Money Laundering, Account Opening Requirements, Recovery, and other matters as needed and requested by the Head of Legal & Company Secretary.
  • Participate in the induction of new employees by providing a training on general legal issues applicable to the business and operations of the Company, including topics such as the verification of collateral, legal implications of illegal recoveries, fraud etc.
VII. Fraud and Disciplinary

  • Preparing and submitting to the Head of Legal & Company Secretary monthly reports on fraud cases handled.
  • Assist the Human Resources department on all Disciplinary and fraud cases related to staff

Job Requirements

PERSONNEL SPECIFICATIONS

Education
  • Must have at least a Bachelor’s degree in law. Second law degree will be an added advantage
  • S/he S/he must be an Advocate


Experience
  • At least 4 years working experience
  • Must be computer literate
  • Experience in banking/finance law
  • Experience in corporate law
  • Experience in litigation and labor law, preferred
  • Excellent knowledge of legal matters relating to the operations of the Company

Languages


Written and spoken fluency in English and Swahili

Deadline: 28/02/2017


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