Job
Description
Job Purpose: To lead and support the legal functions of our Surety Bond Insurance vertical. The role demands expertise in drafting and vetting indemnity agreements, surety bonds, and related legal documentation, with a keen focus on execution, enforcement, and recovery aspects. The candidate will play a pivotal role in finalizing surety insurance bond and allied agreements, conducting legal due diligence, managing external legal counsel, advising on litigation / arbitration strategies, and ensuring compliance with regulatory and contractual obligations. PRINCIPAL ACCOUNTABILITIES Legal Drafting, Vetting & Negotiation: Draft, vet, advise, and negotiate various legal documents including indemnity agreements, surety bonds, counter indemnities, and related instruments in collaboration with Corp Legal Customize and standardize legal templates in accordance with business and regulatory requirements ensuring that all terms are clearly defined and legally enforceable. Review transactional documents relating to non-fund-based facilities and financial guarantees. Legal Due Diligence & Underwriting Support: Conduct and/or advise on legal due diligence of contractors, obligors, and project documents prior to issuance of surety bonds. Review contracts and project agreements to identify potential legal risks that could impact the Insurer s obligations or recovery rights. Enforcement & Recovery: Advise on enforcement actions under surety bonds, including invocation, subrogation, and recovery processes. Draft and legal notices, demand letters, recovery notices, and other enforcement communications. Initiate and oversee arbitration, civil litigation, and recovery proceedings against defaulting parties under issued surety bonds. This will finally route through Corp Legal Legal Proceedings & Coordination: Liaise with arbitrators, external counsel, law firms, and recovery agents for ongoing and proposed legal actions. Prepare case briefs, monitor litigation progress, and provide timely legal input to stakeholders. Regulatory & Compliance Advisory: Ensure compliance with IRDAI Surety Guidelines, Master Circulars, and other applicable legal and regulatory frameworks. Cross-functional Collaboration: Co-ordinate and work closely with other departments including underwriting, claims, finance, Corporate Legal, sales and operations teams to align legal documentation with business goals. Provide legal support for risk assessments, internal approvals, and audit-related documentation.
