Officer

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IOL CHEMICALS AND PHARMACEUTICALS LIMITED

JOB DESCRIPTION

POSITION TITLE : Officer
LOCATION : Ludhiana

DEPARTMENT : Accounts & Finance
SUB- DEPTT : Operational Finance

JOB TYPE : Full time
Job Req ID : 2728

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Job Purpose : Responsible for managing all banking and foreign exchange activities related to import and export transactions. The role involves handling Letters of Credit (LCs), bank guarantees, remittances, trade finance documentation, RBI/FEMA compliance, coordination with banks, and ensuring timely realization and settlement of foreign exchange transactions.

Key Responsibilities :

Export Banking Operations

- Handle export documentation under Letter of Credit (LC), Documents against Payment (DP), Documents against Acceptance (DA), and Advance Payment terms.

- Scrutinize export documents as per UCP 600, ISBP, and Letter of Credit terms.

- Coordinate with banks for negotiation, collection, discounting, and realization of export bills.

- Monitor export bill realization and ensure timely closure in EDPMS.

- Follow up with banks for pending export payments.

- Trace inward remittances (MT103/MT202) and resolve payment-related discrepancies.

- Arrange issuance of Bank Realization Certificates (BRC/e-BRC) and other export-related certificates.

Import Banking Operations

- Open Import Letters of Credit (Sight, Usance).

- Process LC amendments.

- Arrange import remittances under Advance, DA, DP, and Open Account terms.

- Coordinate with banks for import bill retirement and acceptance.

- Ensure timely closure of import transactions in IDPMS.

- Verify shipping documents such as Commercial Invoice, Packing List, Bill of Lading, Certificate of Origin, Insurance Certificate, etc.

Documentation & MIS

- Maintain records of LC openings, amendments, remittances, export collections, and import payments.

- Prepare MIS reports on forex exposure, outstanding export bills, import liabilities, forward contracts.

Educational Qualification : M.Com/MBA (Finance).

Experience:

- 2–3 years of experience in export/import documentation (POST SHIPMENT).

- Hands-on experience in import/export banking operations and foreign exchange transactions.