Legal Counsel

IDFC FIRST Bank; Mumbai; On-site; INR 1,500,000 - 3,500,000; Full time

Job summary

Idfc First Bank Limited in Mumbai is seeking a qualified Legal Counsel- Retail Banking Legal to oversee legal operations within the Retail Banking division, focusing on regulatory compliance and risk mitigation, and to manage essential legal documentation for banking transactions.

The ideal candidate holds an LLB (LLM preferred) with at least 7 years in banking or financial services law, strong drafting and research skills, and proficiency in MIS and document management to support senior

Qualifications

• Bachelor's degree in Law (LLB) is mandatory.
• LLM is preferred.
• 7+ years of banking/financial services law experience.
• Proficient in drafting, research, and regulatory analysis.

Responsibilities

• Oversee legal operations within the Retail Banking division.
• Draft and manage legal documentation to support litigation and investigations.
• Support timely closure of banking transactions.
• Monitor regulatory changes and ensure policy compliance.
• Manage legal MIS and documentation storage.

Skills

Banking laws

Drafting

Regulatory compliance

Research

Communication

MIS

Document management

Detail orientation

Interpersonal skills

Multitasking

Education

LLB

LLM (preferred)

Job description

The Legal Counsel- Retail Banking Legal will be responsible for overseeing legal operations within the Retail Banking division, ensuring compliance with regulatory standards and internal policies. Based in Mumbai, this role is part of the Corporate Services function and plays a critical role in managing legal documentation, supporting litigation and investigations, and facilitating the closure of banking transactions. The role demands a proactive legal professional who can contribute to operational efficiency and risk mitigation across the business.

Key Responsibilities

Primary Responsibilities

• Implement departmental policies, processes, and procedures to ensure consistent and controlled legal operations.
• Draft and manage legal documentation including letters, meeting minutes, memos, charts, tables, and graphs to support litigation and investigation activities.
• Provide effective legal support to internal client groups to facilitate timely closure of transactions.
• Execute day-to-day legal operations in compliance with established standards and procedures.
• Monitor and manage legal costs within the approved budget.
• Maintain and develop legal MIS by documenting legal interventions and defended matters.
• Assist in the development and periodic updating of legal manuals and procedures relevant to the Retail Banking group.
• Conduct research on legal records and precedents to ensure timely availability of relevant data.
• Stay updated on legislative changes and developments in the legal and banking sectors, and communicate key updates to senior team members.
• Ensure proper storage and easy retrieval of all legal documents.

Secondary Responsibilities

• Regularly review legal journals and court circulars to identify and share relevant updates with senior colleagues.
• Recommend process and policy improvements across the Banking business to enhance operational efficiency and customer service quality.
• Stay informed about global legal trends and competitor strategies in key markets.

What We Are Looking For

Education

• Bachelor's degree in Law (LLB) is mandatory.
• Master's degree in Law (LLM) or related field is preferred.

Experience

• Minimum of 7 years of experience in legal roles within the banking or financial services industry.
• Proven track record in handling litigation, legal documentation, and regulatory compliance.

Skills and Attributes

• Strong understanding of banking laws, regulations, and legal procedures.
• Excellent drafting, research, and analytical skills.
• Ability to manage multiple legal matters simultaneously with attention to detail.
• Effective communication and interpersonal skills to liaise with internal stakeholders and external legal entities.
• Proficiency in legal MIS and document management systems.
• High level of integrity, discretion, and professionalism.