Overview
The Head of Legal, Governance and Recovery will provide corporate governance expertise and legal advisory services to the institution, and maintain secretarial records for the Bank. The role will also facilitate Board and Board Sub-Committee Meetings and provide oversight and legal support on the recovery of non-performing loans.
Key Responsibilities
- Provide Secretarial services into Board Meetings, Board Committee Meetings, Board Agendas and Meeting Packs.
- Ensure minutes of Shareholders/Board Meetings and Committees are timely and correctly recorded, prepared and distributed.
- Ensure accurate and timely reporting of Board and Committee proceedings and preparation of Board and Committee papers.
- Ensure Board decisions and instructions are clearly communicated.
- Assist with the induction, orientation, training and education of new and existing Directors.
- Provide expertise, advice and support in relation to the Companies Act.
- Ensure appropriate guidelines, procedures and processes are in place for compliance with the Companies Act, Corporate Governance and other related requirements.
- Ensure Board and relevant Committees' charters and terms of reference are relevant and updated.
- Arrange Board and Committee meetings as required.
- Support with Board Secretarial Correspondences, collate information and write reports.
- Provide Directors with detailed guidance on duties, responsibilities, powers, matters of ethics and Good Governance.
- Provide advice on the implementation and training needs relating to emerging and new legislation and regulations.
- Develop strategies to protect the Company against potential losses arising from legal issues and contractual obligations.
- Advise Directors and Management on Relevant Laws, Regulations and Agreements affecting the Bank.
- Provide legal advice to the business relating to legal complaints as well as project support.
- Represent the Bank in court sessions.
- Initiate Legal Proceedings on behalf of the Bank.
- Attend to litigation matters.
- Handle all staff labor related matters and represent VFT-MFB in lawsuits, legal process, mediation & arbitration.
- Oversee the work of the Recovery Manager and Recovery officers and interns.
- Ensure efficient performance of the recovery team.
- Develop and implement recovery strategies for delinquent and written-off accounts.
- Ensure all recovery efforts are in line with regulatory and legal requirements.
- Oversee the auction/selling of recovered collaterals.
- Oversee the recruitment and monitoring of Debt Collectors.
- Evaluate the cost-benefit of various recovery methods.
- Ensure accurate provisioning for bad debts.
- Recommend write-offs or restructurings when necessary.
- Draft and review Contracts and Agreements on behalf of the Bank.
- Ensure a healthy library of Contracts and Service Level Agreements is maintained.
- Vet contracts and ensure adherence to Bank’s policies and BOT Regulations.
- Act as Custodian of Contracts and MoUs with suppliers, Vendors and Partners.
- Carry out periodical reviews of Laws, Regulations and Directives of the Central Bank and give advice to Management.
- Ensure compliance with BOT regulations and other relevant Regulatory Authorities.
- Maintain a good rapport between the Bank and the Central Bank /other Regulatory Authorities.
- Manage Legal Risks on a day-to-day basis.
- Identify Legal Control weaknesses and ensure corrective action is implemented.
- Participate in relevant meetings, identify and inform on Company’s risks.
- Embed a culture of consciousness and transparency for legal risk management.
- Provide Strategic leadership in Safeguarding.
- Ensure Safeguarding Policy is contextualized and adhered to by staff and affiliates.
- Initiate Safeguarding Capacity building and awareness.
- Serve as contact person for WVI Safeguarding on Safeguarding Incidence Management.
- Coordinate with the VFI Safeguarding Advisor for ongoing mentoring.
Required Experience
- At least 5 years Legal Practice Experience in the banking industry, particularly in credit, collections, risk management, or legal recovery.
- Litigation Experience
- Corporate Governance Experience
- Administrative Experience
- Drafting Experience
Qualifications
- Master’s Degree in Law (LLM) and Bachelor Degree in Law (LLB), Finance, Accounting, Banking and Finance, Economics or Business Administration.
- Postgraduate Diploma in Legal Practice from the Law School of Tanzania
- Practicing Advocate of the High Court of Tanzania and courts subordinates thereto
