Job Title: Assistant Manager Bank Guarantees, EMD & Refund Management Department: Finance Job Purpose: To manage the complete lifecycle of Bank Guarantees (BGs ABG/PBG), Earnest Money Deposits (EMDs), and related financial documentation. The role requires effective coordination with banks, customers, and internal stakeholders to ensure timely application, issuance, renewal, compliance, cancellation, refund processing, and submission of BG sanction documentation. Key Responsibilities: BG/EMD Application & Issuance: Receive daily BG (Advance, Performance, Financial) and EMD requests from internal teams. Prepare and submit BG/EMD applications to the bank with appropriate formats and supporting documents. Verify correctness of value, format, tenure, and terms before submission. Ensure BGs/EMDs are delivered to Sales/Project teams on time. Sanction Management & Bank Coordination: Prepare and submit applications for new BG limit sanctions or renewals with required financial and company documents. Maintain a tracker of BG sanctions (bank-wise), their utilization, and renewal timelines. Submit post-sanction documentation and ensure full compliance with bank conditions (e.g., board resolutions, charge filing, KYC, project details, utilization certificates). Coordinate with banks for clarifications and timely processing of sanctions/renewals. Liaison with Internal and External Stakeholders: Act as the key liaison between the bank and internal teams (Sales, Legal, Projects, Accounts). Track status of BG/EMD applications and follow up with banks for prompt issuance. Share BG copies or originals with concerned internal teams or customers as required. Monitoring & Renewal: Maintain a master register of all BGs (ABG/PBG/EMD) issued and active. Monitor expiry and initiate timely renewals based on contract/project needs. Follow up with internal teams to confirm the requirement for extension or closure. Reconciliation & Reporting: Reconcile monthly bank statements with internal BG/EMD records. Report any mismatches or unaccounted BGs/EMDs and take corrective action. Prepare MIS reports for senior management on BG utilization, expiries, refunds, and renewal status. Cancellation & Refund Follow-up: Track BGs and EMDs eligible for closure and initiate cancellation with banks/customers. Liaise with customers for original BG returns and obtain no-dues/closure confirmation. Submit refund requests and follow up with banks for release of margin money or refund of EMDs. Customer Payment Follow-up (Post Refund): Communicate with customers post-BG refund to recover any payments due. Coordinate with Accounts/Receivables team for adjustments or settlements as needed. KYC & Regulatory Compliance: Ensure timely and accurate submission of KYC and related compliance documents to banks. Maintain audit-ready records of all BG/EMD-related activities and bank interactions. Adhere to internal controls and corporate governance standards in all documentation. Key Skills & Competencies: In-depth knowledge of bank guarantees (ABG/PBG), EMDs, and related financial instruments. Strong documentation and compliance handling skills. Good understanding of BG sanction process and regulatory requirements. Proficiency in MS Excel, ERP systems, and document tracking tools. Clear communication, follow-up, and coordination abilities. Ability to handle multiple priorities and deadlines. Qualifications & Experience: Bachelor's degree in Commerce / Finance / Business Administration (MBA Finance preferred). 35 years of experience in managing BG/EMD processes, Prior experience with bank sanction documentation and financial compliance reporting is an advantage. Performance Indicators: Timeliness and accuracy in BG/EMD issuance. Zero-lapse in BG renewals or expiries. Sanction and renewal documentation compliance (100% submission rate). Timely and complete refunds for cancelled BGs/EMDs. Monthly reconciliation accuracy and timely reporting. Customer payment recovery post-BG refund.
