Key Responsibilities:
Letter of Credit (LC) Management:
LC Opening for Raw Materials:
Liaise with bankers to open
LCs
for the purchase of raw materials, ensuring all documentation and applications are accurately processed and margin money is monitored.
LC Discounting:
Arrange for
LC Bill of Exchange Discounting
for vendors, ensuring smooth execution and timely payments.
LC Payments:
Track and execute
LC bill payments
as per due dates to ensure all payments are made within the stipulated timelines.
LC MIS Reporting:
Maintain a daily
LC MIS
(Management Information System) to monitor the status of all LC transactions, payments, and upcoming due dates.
Sales LC Coordination:
Coordinate with the factory and customers regarding the terms and conditions of
LCs
for sales, and manage coordination with various banks for
LC bill discounting
.
Bank Guarantees (BG) Management:
BG Opening:
Liaise with bankers for opening
Bank Guarantees
(BG) for various tenders, ensuring all necessary documentation and applications are completed.
BG Extensions and Cancellations:
Manage the
extension and cancellation
process of BGs with the banks as per project requirements.
BG MIS Reporting:
Maintain a daily
BG MIS
to track the status of all BG transactions, including extensions, cancellations, and other key milestones.
Accounting & Documentation:
Transaction Accounting:
Ensure day-to-day checking and
accounting of LC and BG-related transactions
, as well as other bank transactions, are recorded accurately.
CMA & Stock Statements:
Prepare
CMA (Credit Monitoring Arrangement)
reports,
Stock Statements
, and other monthly and quarterly statements for banks.
Banking Schedules for Audit:
Prepare various
banking schedules
for audit purposes, ensuring compliance with financial and audit regulations.
Bank Account Management:
Account Opening/Closing:
Oversee
bank account opening
and
closing
activities for various locations, ensuring compliance with company policies and legal requirements.
Liaison & Coordination:
Act as the primary point of contact for liaising with bankers, vendors, and internal teams to ensure smooth LC and BG operations.
Maintain effective communication with
suppliers, customers, and factories
to ensure timely processing of LCs and BGs, addressing any issues that may arise.

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