Vice President - Project & Properties - Bank

About the client:

- Company Name: Indusind Bank Ltd

- Industries: Banking / Financial Services / Broking

- Company Type: Public

- Funding Stage: Unicorn

- Headquarter Location: Maharashtra

- Nature of Offering: Product & Services

- Founding Year: 1980

- No of Employees: 10000+

VP Project & Properties

Role Details : To lead Zonal Projects & Properties Portfolio and support in execution of various infrastructure Projects related to branches/ offices in a particular geography

Overall Job Description:

1. Leading team for the particular zone related to sourcing of properties for opening Branches, setting up new offices etc., and engage with various accredited property intermediaries for the same.

The activities include and are not restricted to the following;

- Coordination with Projects & Property teams for site sourcing as per Bank's business requirements

- Verifying the details proposed for each property take-on and carrying out checks to ensure cross verification

- Interacting with Property Owners and negotiating the best possible terms for the Bank

- Monitoring and coordination of the process of sourcing sites for the particular zone

- Ensuring that the proposals confirm to the Bank's standards and Premises Policy

- Ensuring adherence to Legal guidelines regarding title of the property as well as compliances with Municipal and other local laws

- Timely issue of LOIs and other documents to Owners, which bind them to contractual obligations with the Bank and ensure that the Bank's risks are adequately covered

- Ensuring documents executed are sufficient to cover the Bank's risks and are as per approvals

- Ensuring adherence to the Banks processes relating to Properties in a timely manner

- Property acquisition, market rent comparisons, negotiation and seeking of approvals, checking of compliances both municipal plans and legal title searches, property documentation including lease agreements (standard & non- standard), agreement execution and storage of documents

- Scrutiny of all proposals/ documents prior to formal signoff from Legal Dept.

- Scrutiny of all escalations/ deviations from set process on the above and obtention of appropriate approvals

- Handling escalations from Central Office / Branches on property issues including notices from municipalities/ agencies / Owners/ Legal notices, etc.

- Handling interactions on issues raised by Municipal Corporations and other bodies/ special activities like obtaining approvals for owned office commercial conversion

- Discuss with team on various property matters/ legal agreements/ clauses

- Arranging properly worded notices for exits from properties & Dispute resolution with Owners on exit

- Supporting negotiations on sales of Banks Properties and execution of the same

- Discussions with brokers / owners representatives for Branch / Office premises and closure of lease agreement documentation

2. Ensure timely submission of Properties' budget by team in co-ordination with Business team

3. Validate rental proposals by discussions with accredited intermediaries. Conduct rent scans for various locations across India. Cost rationalization, expense provisioning and Budget controls for property take-on, whenever required

4. Coordination with PMO for compliances before recommending releasing the rents/ security deposits and other payments to Owner

5. Engage with various departments including legal for matters relating to taking on rent/ leave & licence, or for the sale-disposal or purchase of properties on behalf of the Bank

6. Manage the power(s) of attorney issued to various Project Managers for executing documentation relating to properties

7. In co-ordination with PMO and other departments, ensure that all monies paid to Owners/ Landlords are promptly repaid / recovered by team on surrender of properties

8. Ensure that Bank's lease portfolio is kept current at all times, with expiring leases sufficiently tracked in advance and negotiations/ documentation completed without putting the bank to any risks, reputational/financial or otherwise

9. Manage the owned premises portfolio of the Bank with respect to documentation, valuation reports, ensuring proper usage of the premises or recommending the disposal of properties which do not add value to the portfolio

10. Engage with international property Consultants/ other accredited brokers for sale or purchase of properties as required by the Bank and be responsible for the entire process of property take-on or property divestment as applicable, including conducting negotiations, vetting proposals and recommending / preparing Board Notes for approval, etc.