Sr. Accounts Executive (LC/BG)

Job Description- Finance and Accounts Executive (Receivables and Trade Desk)

Job Title: Sr. Finance & Accounts Executive (Receivables and Trade Desk)

Department: Finance & Accounts

Location: Mechwell Industries Limited, On, Shinde - Naigaon Rd, Brahmanwada, Nashik, Maharashtra 422102

Reports To: Manager Accounts

Job Summary:

Accounts receivable, bank reconciliation (allotted account), LC, BG and Foreign Remittance (Import / Export) documentation.

Key Responsibilities:

1. Letters of Credit (LCs):

· Manage the issuance, discounting, and en-cashing of LCs.

· LCs processed correctly with zero corrections required from the bank.

· Ensure accurate documentation and timely processing of LCs as per the project’s requirements.

· Every time before opening LC, check available unused sanctioned LC limit/cash margin with the internally maintained RTP records (customer utilization limits) obtained from the bank.

· Update Manager about the available balance LC limit regularly.

2. Bank Guarantees (BGs):

• Oversee the maintenance and management of Advance Bank Guarantees (ABGs) against customer advances.
• Focus on retrieving BGs back from customers that have expired, avoiding unnecessary financial exposure.
• Keeping records of Expired BGs and get arrange Original BG’s and Discharge Covering letter from Sales Team to get BG cancelled and release margin money.
• Liaise with banks and financial institutions to manage BGs effectively.
• Check, available unused sanctioned LC (Sub-Limit) /BG limit by the bank, every time before BG opened.
• Update Manager about the available balance BG limit regularly
• Check and record all expenses (margin money, commission etc.) involved in opening BG before and after.

3. Bill Discounting against LC (Customer/Vendor):

· Prepare Bills of Exchange (BOE), Request letter to Bank

· Verify Documents as per LC received from Customer

· Present Documents to Bank as per LC

· Follow up with Bank and customer for BOE Acceptance

· Keep Necessary Records/Files

4. Foreign Remittance (Import/Export):

· Apply on Bank Portal

· Transaction Confirmation to Bank

5. Bank Entry and Reconciliation:

· Daily Bank Entries to Respective Ledger

· Bank Reconciliation

· Suspense A/c

Qualifications and Skills:

• Bachelor’s degree in Accounting, Finance, or a related field.
• A minimum of 3 to 5 years of experience in trade finance, specializing in LC and BG.
• Proficiency in ERP Next (preferable)
• Excellent analytical and problem-solving skills.
• Strong communication skills and the ability to coordinate with multiple departments.
• Ability to liaise with the banks and financial institutions to manage LCs, BGs, and other related transactions.
• Attention to detail and a commitment to accuracy in all financial tasks.

Working Conditions:

• Office-based role with occasional meetings with banks, financial institutions, and internal departments.
• May require additional hours during peak financial periods.

Job Types: Full-time, Permanent

Benefits:

• Health insurance
• Paid sick time
• Provident Fund

Work Location: In person