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

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