Legal Counsel

IDFC FIRST Bank; Mumbai; On-site; INR 350,000 - 600,000; Full time

Job summary

IDFC FIRST Bank in Mumbai seeks a Senior Legal Counsel for Retail Banking Legal. You will oversee daily legal operations, support litigation and investigations, draft critical documents, and align regulatory compliance with internal policies.

Based in Mumbai, you’ll drive efficiency and risk management across the Retail Banking division. Ideal candidates have 7+ years in banking law, strong drafting and analytics, and excellent stakeholder engagement.

Qualifications

• LLB is mandatory; an LLM is preferred for advanced regulatory work.
• Minimum 7 years of legal experience in banking/financial services.
• Proven drafting, research, and regulatory compliance skills.

Responsibilities

• Oversee legal operations within Retail Banking and ensure regulatory compliance.
• Draft and manage legal documentation for litigation and investigations.
• Support internal clients to close banking transactions efficiently.
• Maintain MIS and document management for the Legal function.
• Monitor legal costs and stay updated on legislative changes affecting banking.
• Collaborate with stakeholders and senior management on risk mitigation.
• Develop and update legal manuals and procedures for Retail Banking.

Skills

Banking law

Drafting & research

Multitasking

Communication

Legal MIS

Integrity & discretion

Education

LLB (Bachelor’s degree in Law)

LLM (Master’s degree in Law)

Job description

Job Requirements

About the Role

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.