Accounts Executive – LCBD (Letter of Credit & Bill Discounting)
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: ₹32,000.00 - ₹35,000.00 per month
Benefits:
Experience:
- letter of credit- account executive: 1 year (Required)
Work Location: In person
