Officer

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IOL CHEMICALS AND PHARMACEUTICALS LIMITED              JOB DESCRIPTION

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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

1. Handle export documentation under Letter of Credit (LC), Documents against Payment (DP), Documents against Acceptance (DA), and Advance Payment terms.
2. Scrutinize export documents as per UCP 600, ISBP, and Letter of Credit terms.
3. Coordinate with banks for negotiation, collection, discounting, and realization of export bills.
4. Monitor export bill realization and ensure timely closure in EDPMS.
5. Follow up with banks for pending export payments.
6. Trace inward remittances (MT103/MT202) and resolve payment-related discrepancies.
7. Arrange issuance of Bank Realization Certificates (BRC/e-BRC) and other export-related certificates.

Import Banking Operations

1. Open Import Letters of Credit (Sight, Usance).
2. Process LC amendments.
3. Arrange import remittances under Advance, DA, DP, and Open Account terms.
4. Coordinate with banks for import bill retirement and acceptance.
5. Ensure timely closure of import transactions in IDPMS.
6. Verify shipping documents such as Commercial Invoice, Packing List, Bill of Lading, Certificate of Origin, Insurance Certificate, etc.

Documentation & MIS

1. Maintain records of LC openings, amendments, remittances, export collections, and import payments.
2. Prepare MIS reports on forex exposure, outstanding export bills, import liabilities, forward contracts.

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

Experience: 

1. 2–3 years of experience in export/import documentation (POST SHIPMENT).
2. Hands-on experience in import/export banking operations and foreign exchange transactions.