Bank: Legal Department

Far Eastern University
Institute of Accounts Business and Finance

Legal
Department

Legal Department

* The Legal Department is responsible for managing the legal affairs and legal risks of Bank. The Department employs highly skilled outside counsel who have a strong commitment to the success of Bank, to upholding high standards of professional and ethical conduct, and to ensuring timely, responsive, and cost-effective service.

Roles of Legal Department

* One of the most important roles of the legal department is as legal advisers. Executives may talk with the legal staff about potential legal issues. The legal department may also offer training and assistance with employee manuals to ensure that the company and its employees are kept up to date on workplace law, reducing the risk of potential suits. * The legal department will become involved in clients complaints, ensuring that the responses to these complaints are drafted in a professional style which also covers the company's bases, legally. In the event that a bank is sued, either from within or from the outside, the legal department will represent the bank in the suit. It also handles the filing of patents and other legal documents with official agencies.

Functions of Legal Department

* Law department is responsible for providing legal services and advice to the company, its divisions and employees. The department office faces a great number of different legal matters. These matters include: business development, contract management, real estate transactions, customer claims against the company for product damages and defects, litigation, employment law, sales and leases matters, debt collection, bankruptcy, case prosecution, and much more. All these activities create the workflow of Legal department. If to look at the workflow in whole, the following main functions of the legal department can seen: * Providing legal advice and guidance * Prosecution of