Job Description

Banking and trade forex
1. Making foreign and inland LCs and BGs
2. Deals with banks for foreign compliences and queries
3. Handling import/export documents and settlement
4. Hedging in multiple currency
5. Maintain mis report
6. Banking related accounting entries
7. Msme bill discounting
8. Arranging and Sumission Quarterly complience to bank msod ufce ,FFR1.
A Forex Accountant manages foreign exchange transactions, which includes processing currency conversions, reconciling accounts, and ensuring compliance with regulations. Key responsibilities are maintaining accurate forex records, monitoring exchange rates, preparing financial reports related to forex, and collaborating with banks and internal teams. This role requires a strong understanding of financial markets, risk management, and specific accounting standards like or local regulations.
Core responsibilities

• Transaction management: Process all foreign exchange (forex) transactions, including currency purchases, sales, conversions, and remittances.
• Record keeping: Maintain accurate and complete accounting records for all forex activities and reconcile forex-related accounts with bank statements.
• Rate monitoring: Monitor daily forex rates and ensure timely updates in the accounting system.
• Financial reporting: Prepare and maintain management information (MIS) reports on forex transactions and balances.
• Compliance: Ensure all forex activities comply with relevant regulations, such as those from the Reserve Bank of India (RBI), FEMA, and other governing bodies.
• Risk management: Manage and account for the risks associated with foreign exchange trading and hedging strategies.
• Audit support: Assist with internal and external audits by providing necessary documentation and reports related to forex transactions.
• Documentation: Ensure all forex-related records, invoices, and documents are properly filed and maintained.
• Stakeholder communication: Coordinate with internal departments, banks, and financial institutions regarding forex operations.

Required skills and qualifications

• Technical skills: Proficiency in financial software and ERP systems like SAP is often required. A strong understanding of accounting principles, especially in hedge accounting (IFRS 9), is essential.
• Analytical skills: The ability to analyze financial data, identify trends, and solve problems is crucial.
• Communication skills: Excellent written and verbal communication skills are needed to interact with various internal and external stakeholders.
• Organizational skills: Strong organizational skills to manage multiple tasks, prioritize, and ensure timely processing of transactions.
• Regulatory knowledge: A strong understanding of local and international financial regulations and compliance requirements is necessary.

JOB APPLY
http://jobs.vinayakjob.com/
CONTACT DETAILS -
Name - ANJALI
Number - +91 95034 51559

Skills Required