Job Description

- Finance and Accounts Executive (Receivables and Trade Desk)

Job Title:

Sr. Finance & Accounts Executive (Receivables and Trade Desk)

Department:

Finance & Accounts

Location:

Mechwell Industries Limited, On, Shinde - Naigaon Rd, Brahmanwada, Nashik, Maharashtra 422102

Reports To:

Manager Accounts

Job Summary:

Accounts receivable, bank reconciliation (allotted account), LC, BG and Foreign Remittance (Import / Export) documentation.

Key Responsibilities:

1. Letters of Credit (LCs):

Manage the issuance, discounting, and en-cashing of LCs.

LCs processed correctly with zero corrections required from the bank.

Ensure accurate documentation and timely processing of LCs as per the project's requirements.

Every time before opening LC, check available unused sanctioned LC limit/cash margin with the internally maintained RTP records (customer utilization limits) obtained from the bank.

Update Manager about the available balance LC limit regularly.

2. Bank Guarantees (BGs):

Oversee the maintenance and management of Advance Bank Guarantees (ABGs) against customer advances. Focus on retrieving BGs back from customers that have expired, avoiding unnecessary financial exposure. Keeping records of Expired BGs and get arrange Original BG's and Discharge Covering letter from Sales Team to get BG cancelled and release margin money. Liaise with banks and financial institutions to manage BGs effectively. Check, available unused sanctioned LC (Sub-Limit) /BG limit by the bank, every time before BG opened. Update Manager about the available balance BG limit regularly Check and record all expenses (margin money, commission etc.) involved in opening BG before and after.
3. Bill Discounting against LC (Customer/Vendor):

Prepare Bills of Exchange (BOE), Request letter to Bank

Verify Documents as per LC received from Customer

Present Documents to Bank as per LC

Follow up with Bank and customer for BOE Acceptance

Keep Necessary Records/Files

4. Foreign Remittance (Import/Export):

Apply on Bank Portal

Transaction Confirmation to Bank

5. Bank Entry and Reconciliation:

Daily Bank Entries to Respective Ledger

Bank Reconciliation

Suspense A/c

Qualifications and Skills:

Bachelor's degree in Accounting, Finance, or a related field. A minimum of 3 to 5 years of experience in trade finance, specializing in LC and BG. Proficiency in ERP Next (preferable) Excellent analytical and problem-solving skills. Strong communication skills and the ability to coordinate with multiple departments. Ability to liaise with the banks and financial institutions to manage LCs, BGs, and other related transactions. Attention to detail and a commitment to accuracy in all financial tasks.

Working Conditions:

Office-based role with occasional meetings with banks, financial institutions, and internal departments. May require additional hours during peak financial periods.
Job Types: Full-time, Permanent

Benefits:

Health insurance Paid sick time Provident Fund
Work Location: In person