Bank Guarantee Management

- Manage the end-to-end process of Bank Guarantees (BGs), including issuance, amendment, renewal, extension, and closure.
- Coordinate with banks for timely processing and resolution of Bank Guarantee-related matters.
- Liaise with Business Unit (BU) Marketing teams and Corporate departments for Bank Guarantee requirements and approvals.
- Review contract terms and conditions, with specific focus on Bank Guarantee clauses, to ensure compliance with contractual and organizational requirements.
- Maintain and perform periodic reconciliation of Bank Guarantee records with bank statements and internal records.
- Verify Bank Guarantee charges for each transaction and ensure that charges are applied as per agreed rates and banking arrangements.
- Maintain accurate documentation and records related to all Bank Guarantee transactions.
- Respond to internal and external audit queries and provide the required supporting documents and explanations.

2. Collection Accounting and Contract Reconciliation

- Review and ensure the timely and accurate accounting and allocation of customer collections.
- Assign and monitor collection entries against the appropriate customer accounts, invoices, contracts, and business units.
- Review and follow up on unclaimed or unidentified collections to ensure timely resolution.
- Coordinate with BU Marketing teams for clarification and reconciliation of customer payments and outstanding balances.
- Ensure the accuracy, completeness,



and timely maintenance of Customer Master data.
- Review and monitor contract reconciliation activities to ensure alignment between contractual terms, billing, collections, and accounting records.

3. Quarter-End Closing Activities

- Support and coordinate quarter-end accounts closing activities within defined timelines.
- Ensure timely reconciliation of relevant accounts, collections, Bank Guarantees, and outstanding balances.
- Identify and resolve discrepancies before the closure of accounts.
- Coordinate with internal stakeholders to obtain necessary information and supporting documentation for timely financial reporting.
- Ensure compliance with internal accounting policies, procedures, and audit requirements during the closing process.

Key Skills and Competencies

- Strong knowledge of Bank Guarantee processes and banking operations.
- Understanding of contract terms, financial reconciliation, and collection accounting.
- Strong analytical and problem-solving skills.
- Excellent coordination and stakeholder management abilities.
- Attention to detail and accuracy in financial transactions and reconciliations.
- Ability to manage multiple tasks and meet strict timelines.
- Proficiency in ERP systems and MS Excel.
- Valuable communication skills for coordination with banks, Business Units, Corporate teams, customers, and auditors

THIS OPENING IS ON FIXED TERM CONTRACT

📌 Officer -F&A (Mumbai)
🏢 Larsen and Toubro (L&T)
📍 Mumbai