Accounts Executive – LCBD (Letter of Credit & Bill Discounting)
Job Summary
We are seeking a detail-oriented and proactive Accounts Executive – LCBD to manage and monitor all activities related to Bill Discounting (BD). The role requires strong coordination with banks, internal departments, customers, and vendors to ensure smooth execution of trade finance transactions, compliance with banking requirements, and timely fund management.
Key Responsibilities
Bill Discounting (BD) Operations
- Review LC terms and conditions to ensure compliance with contractual requirements.
- Coordinate for LC amendments, extensions, retirements, and closures.
- Process bill discounting transactions with banks.
- Prepare and submit required documentation for bill discounting facilities.
- Monitor discounted bills and ensure timely realization of payments.
- Maintain records of discounted bills, due dates, and settlements.
- Reconcile bill discounting accounts and resolve discrepancies promptly.
- Monitor LC expiry dates and coordinate for renewal/amendment processes as required.
Banking & Trade Finance
- Liaise with banks regarding LCBD facilities, documentation, and compliance requirements.
- Ensure compliance with banking norms and internal financial controls.
- Maintain relationships with banking partners and facilitate smooth transactions.
Accounts & Financial Operations
- Pass accounting entries related to bill discounting, interest, bank charges, and trade finance transactions.
- Perform bank reconciliations and monitor fund flow.
- Assist in month-end and year-end closing activities.
- Maintain proper accounting records and supporting documents.
- Support audits by providing required trade finance and banking records.
- Prepare MIS reports related to bill discounting exposure.
Documentation & Compliance
- Maintain accurate and organized records of all LC-BD documents.
- Ensure compliance with company policies, banking regulations, and statutory requirements.
- Coordinate with auditors and finance teams during internal and external audits.
- Track document validity and ensure timely renewals where applicable.
Coordination & Stakeholder Management
- Coordinate with Internal teams for timely documentation.
- Follow up with customers and banks regarding transaction status and document requirements.
- Resolve trade finance-related issues and discrepancies efficiently.
- Provide regular updates to management regarding Bill Discounting.
Technical Skills
- Strong knowledge of Letter of Credit, Bill Discounting and Trade Finance.
- Understanding of banking operations and financial documentation.
- Knowledge of accounting principles and financial reporting.
- Proficiency in MS Excel.
Qualifications
- Bachelor's Degree in Commerce (B.Com), Finance, Accounting, or related field.
- 2-4 years of experience in Trade Finance, LC, and Bill Discounting.
- Experience in manufacturing, trading or distribution sectors preferred.
Pay: ₹30,000.00 - ₹35,000.00 per month
Benefits:
- Flexible schedule
- Health insurance
- Paid time off
- Provident Fund
Application Question(s):
- Your Current CTC
- Expected CTC
Experience:
- Customer LC: 1 year (Required)
Work Location: In person
