Job Requirements Job Title: Associate Liability Operations

Department/Function: Retail Banking Operations

Job Purpose: To process, validate, and manage outward remittance transactions for individual customers in compliance with FEMA, RBI, LRS, AML/KYC, and internal bank policies while ensuring accuracy, customer service, and regulatory reporting.

Roles & Responsibilities:

- Process retail outward remittances
- Handle remittances under Liberalised Remittance Scheme (LRS) for purposes such as education, medical treatment, travel, maintenance of relatives, gifts, investments, and other permissible current/capital account transactions.
- Verify customer instructions, forms, declarations, invoices, admission letters, medical estimates, and supporting documents.
- Ensure correct purpose code mapping and transaction classification.
- Knowledges on latest ISO MX messages types used in daily BAU.
- Regulatory & Compliance Checks
- Validate transactions against FEMA and RBI Master Directions on LRS and Remittances.
- Perform AML/KYC/sanctions screening and escalation of alerts.
- Check annual LRS utilization limits and customer declarations.
- Ensure compliance with tax-related requirements (Form A2, PAN validation, TCS applicability, etc.).
- Transaction Execution & Coordination
- Coordinate with branch teams, relationship managers, correspondent banks, and customers for query resolution.




- Monitor pending cases and ensure turnaround time (TAT) adherence.
- Operational Controls & Reporting
- Maintain transaction records and audit trails.
- Support regulatory reporting and internal MIS related to outward remittances.
- Identify process gaps and suggest automation or control improvements.
- Assist during internal, statutory, RBI, and compliance audits.
- Customer & Stakeholder Management
- Provide guidance to customers and branches on documentation requirements.
- Handle escalations related to rejected, delayed, or returned remittances.
- Maintain high service standards and communication quality.
- Valuable understanding of FEMA, LRS guidelines, and outward remittance regulations.
- Knowledge of purpose codes, SWIFT operations, and cross-border payment workflows.
- Understanding of AML/KYC, sanctions screening, and transaction monitoring.
- Familiarity with NRE/NRO accounts, forex products, and retail banking operations.

Educational Qualifications: Graduation: Bachelor of Commerce (B.com) / Bachelor of Science (B.Sc) / Bachelor of Arts (BA) / Bachelor of Business & Insurance (BBI) / Bachelor of Management Studies (BMS) Post-Graduation: Master of Business Administration (MBA) / Master of Commerce (M.com) / Master of Arts (MA)

Experience: 2 - 5 years of relevant experience

📌 Associate Operations Specialist - Liability Operations (Thane)
🏢 IDFC FIRST Bank
📍 Thane