Job Description

Title: CHIEF LEGAL OFFICER (CLO)

Company Name: Al-Arafah Islami Bank PLC

Vacancy: 1

Location: Dhaka

Minimum Salary: Negotiable

Published: 6 Nov 2024

Education:
∎ Having LL.B (Hon’s), degree from an UGC approved local or reputable foreign university. Candidates with LL.M / Bar-at-Law /PhD or any other higher degree on law will be given preference.
∎ Having LL.B (Hon’s), degree from an UGC approved local or reputable foreign university. Candidates with LL.M / Bar-at-Law /PhD or any other higher degree on law will be given preference.

Requirements:

Additional Requirements:
∎ At least 12 years of experience in managing legal cases and suits, with a successful track record in recovering non-performing loans (NPLs), and at least 2 years of experience at the Senior Executive Vice President (SEVP) level or higher, preferably within a large financial institution, such as a bank or non-banking financial institution (NBFI). Working experience requirements may be relaxed for exceptionally deserving candidates;
∎ Have in-depth knowledge of banking operations, Legal way-out in Recovery and Special Asset Management;
∎ Have sound knowledge of Artha Rin Adalat Ain-2023, The Negotiable Instruments Act, 188, Bank Company Act-1991, Company Act-1994, Finance Act, Insurance Act-2010, Labour Laws, Transfer of Property Act 1882, Registration Act 1908, Principles of Statutory Interpretation, The Evidence Act-1872, The Contract Act -1872, Administrative Law, Constitutional Laws of Bangladesh and other relevant laws of the land;
∎ High success records in management of classified assets of financial institutions and in management of expedite suit disposal and recovering of classified assets of financial institutions, preferably private bank;
∎ Able to work under pressure and have positive mind-set;
∎ Age should not be more than 50 years as at the time of application.
∎ At least 12 years of experience in managing legal cases and suits, with a successful track record in recovering non-performing loans (NPLs), and at least 2 years of experience at the Senior Executive Vice President (SEVP) level or higher, preferably within a large financial institution, such as a bank or non-banking financial institution (NBFI). Working experience requirements may be relaxed for exceptionally deserving candidates;
∎ Have in-depth knowledge of banking operations, Legal way-out in Recovery and Special Asset Management;
∎ Have sound knowledge of Artha Rin Adalat Ain-2023, The Negotiable Instruments Act, 188, Bank Company Act-1991, Company Act-1994, Finance Act, Insurance Act-2010, Labour Laws, Transfer of Property Act 1882, Registration Act 1908, Principles of Statutory Interpretation, The Evidence Act-1872, The Contract Act -1872, Administrative Law, Constitutional Laws of Bangladesh and other relevant laws of the land;
∎ High success records in management of classified assets of financial institutions and in management of expedite suit disposal and recovering of classified assets of financial institutions, preferably private bank;
∎ Able to work under pressure and have positive mind-set;
∎ Age should not be more than 50 years as at the time of application.
∎ Knowledge: Risk Management and Special Asset management Guidelines for banks; Legal and recovery processes; Classification of loans, Loan Restructuring & Rescheduling; Recovery and Legal processes; Laws, Relevant Acts and Contracts; Legal Framework of Islamic Banks.
∎ Interpersonal Skills: Excellent Communication and leadership skills; Strong self-motivated drive; Acquainted with organizational Restructuring, Planning and organizing; Adapting and responding to change.

Responsibilities & Context:
∎ lead and supervise the Asset Management and Legal Affairs of the Bank by taking the responsibility of overall asset management process and ensuring positive outcome through effective legal proceedings;
∎ Specialize in the effective management of distressed loans and advances with a focus on maximizing recovery by taking appropriate legal measures while adhering to regulatory requirements and excelling in loan restructuring, asset disposition, risk mitigation, client communication, and financial analysis;
∎ Prepare and implement all required policies, procedures, and strategies for management of classified assets of the bank and to settle and dispose the cases filed against the default loan borrowers;
∎ Direct and coordinate with internal and external legal counsels in dealing with classified accounts to ensure implementation of best legal strategies and ensure legal proceedings are taken timely and keep liaison with internal as well as external lawyers regularly;
∎ Develop and implement legal strategies to minimize risk for contributing to the Bank’s income by way of recovery;
∎ Provide support, advice & guidance to the branches, divisions, departments etc. in recovery of the classified loans;
∎ ⁠Accelerate, strengthen, and assist in the process of quick recovery of classified loans;
∎ Maintain liaison with clients, other creditors, consultants and regulatory bodies as required to ensure efficient asset management of the bank and formulate Budget for annual expenses of asset management to ensure recovery at minimum costs & maximum profit;
∎ Provide monthly progress report of cases under litigation to the Managing Director and providing quarterly progress report of the same to Board of Directors of the Bank;
∎ Select and evaluate panel lawyers as needed, based on guidelines from Bangladesh Bank;
∎ Prepare and update internal guidelines and evaluation criteria for measuring the performance of the panel lawyers;
∎ Formulate a strong trained recovery and legal team with required qualifications having proper coordination;
∎ Oversee all the legal aspects of the Bank;
∎ Ensure the Bank’s legal operations are in compliance with the laws of the land and assist the Board, Senior Management and all other Divisions, Department and Branches on all legal matters for smooth functioning;
∎ Maintain liaison with Bangladesh Bank, Anti-Corruption Commission, Law Enforcing Agencies and all other Regulatory Bodies/Authorities for protecting Bank’s interest and compliance.
∎ In order to maintain a balance between risk and reward across the bank’s products and portfolios through strong recovery strategies and to strengthen the legal team for quick disposal of effective legal actions against default borrowers and integrate the management of recovering NPLs, AIBPLC is looking for qualified resources for the position of Chief Legal Officer.
∎ The Chief Legal Officer will be directly reporting to the Managing Director and will be responsible to perform the following key responsibilities:
∎ Key Responsibilities:
∎ lead and supervise the Asset Management and Legal Affairs of the Bank by taking the responsibility of overall asset management process and ensuring positive outcome through effective legal proceedings;
∎ Specialize in the effective management of distressed loans and advances with a focus on maximizing recovery by taking appropriate legal measures while adhering to regulatory requirements and excelling in loan restructuring, asset disposition, risk mitigation, client communication, and financial analysis;
∎ Prepare and implement all required policies, procedures, and strategies for management of classified assets of the bank and to settle and dispose the cases filed against the default loan borrowers;
∎ Direct and coordinate with internal and external legal counsels in dealing with classified accounts to ensure implementation of best legal strategies and ensure legal proceedings are taken timely and keep liaison with internal as well as external lawyers regularly;
∎ Develop and implement legal strategies to minimize risk for contributing to the Bank’s income by way of recovery;
∎ Provide support, advice & guidance to the branches, divisions, departments etc. in recovery of the classified loans;
∎ ⁠Accelerate, strengthen, and assist in the process of quick recovery of classified loans;
∎ Maintain liaison with clients, other creditors, consultants and regulatory bodies as required to ensure efficient asset management of the bank and formulate Budget for annual expenses of asset management to ensure recovery at minimum costs & maximum profit;
∎ Provide monthly progress report of cases under litigation to the Managing Director and providing quarterly progress report of the same to Board of Directors of the Bank;
∎ Select and evaluate panel lawyers as needed, based on guidelines from Bangladesh Bank;
∎ Prepare and update internal guidelines and evaluation criteria for measuring the performance of the panel lawyers;
∎ Formulate a strong trained recovery and legal team with required qualifications having proper coordination;
∎ Oversee all the legal aspects of the Bank;
∎ Ensure the Bank’s legal operations are in compliance with the laws of the land and assist the Board, Senior Management and all other Divisions, Department and Branches on all legal matters for smooth functioning;
∎ Maintain liaison with Bangladesh Bank, Anti-Corruption Commission, Law Enforcing Agencies and all other Regulatory Bodies/Authorities for protecting Bank’s interest and compliance.

Workplace:
∎ Work at office

Employment Status: Full Time

Job Location: Dhaka

Read Before Apply:

Interested candidates are requested to submit their resumes, along with a recent photograph, either in hardcopy addressed to HoHRD, Al-Arafah Islami Bank PLC or via email to: recruitment@aibl.com.bd

Company Information:
∎ Al-Arafah Islami Bank PLC
∎ Head Office, Al-Arafah Tower, (Level-17), 63, Puraana Paltan, Dhaka-1000
∎ https://www.aibl.com.bd
∎ Al-Arafah Islami Bank PLC. (AIBPLC), a prominent Shariah-based Islamic bank in Bangladesh having a commendable reputation in the banking industry through consistent growth and the delivery of a diverse range of products and services to its customers. The Bank is committed to contribute significantly to the national economy. It has made a positive contribution towards the socio-economic development of the country with 226 branches and 76 sub branches throughout the country.


Address::
∎ Head Office, Al-Arafah Tower, (Level-17), 63, Puraana Paltan, Dhaka-1000
∎ https://www.aibl.com.bd
∎ Al-Arafah Islami Bank PLC. (AIBPLC), a prominent Shariah-based Islamic bank in Bangladesh having a commendable reputation in the banking industry through consistent growth and the delivery of a diverse range of products and services to its customers. The Bank is committed to contribute significantly to the national economy. It has made a positive contribution towards the socio-economic development of the country with 226 branches and 76 sub branches throughout the country.

Application Deadline: 16 Nov 2024

Category: Bank/Non-Bank Fin. Institution