To manage and oversee all activities related to Letter of Credit (LC) and Bank Guarantee (BG), ensuring compliance with company policies, banking regulations, and contractual obligations. The role also involves supporting overall finance and accounting operations.
Key Responsibilities:
Letter of Credit (LC) Management:
Prepare, review, and process LC applications in coordination with banks and internal stakeholders.
Ensure timely opening, amendment, and closure of LCs as per contractual terms.
Monitor LC expiry dates and ensure extensions or closures are handled promptly.
Verify documents under LC for accuracy and compliance with UCP 600 and other relevant guidelines.
Bank Guarantee (BG) Handling:
Coordinate issuance, renewal, and cancellation of BGs with banks.
Maintain accurate records of BGs, including validity, amount, and beneficiary details.
Ensure BGs comply with contractual requirements and company policies.
Track BG expirations and initiate timely renewals or releases.
Banking & Compliance:
Liaise with banks for LC/BG-related queries and negotiations.
Ensure compliance with RBI guidelines, FEMA regulations, and internal audit requirements.
Prepare periodic reports on LC/BG status for management review.
Documentation & Record Keeping:
Maintain proper documentation for all LC/BG transactions.
Ensure accurate accounting entries related to LC/BG charges and related expenses.
Cross-functional Coordination:
Work closely with procurement, legal, and project teams to align LC/BG requirements with contracts.
Support treasury operations for fund planning related to LC/BG margins.
Key Skills & Competencies:
Robust knowledge of Letter of Credit (UCP 600) and Bank Guarantee processes.
Familiarity with banking regulations, FEMA, RBI guidelines.
Proficiency in MS Excel and ERP systems (SAP/Oracle preferred).
Excellent communication and negotiation skills.
Attention to detail and ability to manage multiple deadlines.
Qualifications & Experience:
Education: MBA (Finance) / CA / ICWA / M.Com.
Experience: 4 to 6 years in Finance & Accounts with at least 2 to 3 years in LC/BG handling.
Industry Preference: Manufacturing / EPC / Trading / Import-Export.