Finance Manager

2 weeks ago


Mumbai, Maharashtra, India D Tech Management Resource Full time
Job Description

- Key Responsibilities:
- Letter of Credit (LC) Management:
- LC Opening for Raw Materials: Liaise with bankers to open LCs for the purchase of raw materials, ensuring all documentation and applications are accurately processed and margin money is monitored.
- LC Discounting: Arrange for LC Bill of Exchange Discounting for vendors, ensuring smooth execution and timely payments.
- LC Payments: Track and execute LC bill payments as per due dates to ensure all payments are made within the stipulated timelines.
- LC MIS Reporting: Maintain a daily LC MIS (Management Information System) to monitor the status of all LC transactions, payments, and upcoming due dates.
- Sales LC Coordination: Coordinate with the factory and customers regarding the terms and conditions of LCs for sales, and manage coordination with various banks for LC bill discounting.
- Bank Guarantees (BG) Management:
- BG Opening: Liaise with bankers for opening Bank Guarantees (BG) for various tenders, ensuring all necessary documentation and applications are completed.
- BG Extensions and Cancellations: Manage the extension and cancellation process of BGs with the banks as per project requirements.
- BG MIS Reporting: Maintain a daily BG MIS to track the status of all BG transactions, including extensions, cancellations, and other key milestones.
- Accounting & Documentation:
- Transaction Accounting: Ensure day-to-day checking and accounting of LC and BG-related transactions, as well as other bank transactions, are recorded accurately.
- CMA & Stock Statements: Prepare CMA (Credit Monitoring Arrangement) reports, Stock Statements, and other monthly and quarterly statements for banks.
- Banking Schedules for Audit: Prepare various banking schedules for audit purposes, ensuring compliance with financial and audit regulations.
- Bank Account Management:
- Account Opening/Closing: Oversee bank account opening and closing activities for various locations, ensuring compliance with company policies and legal requirements.
- Liaison & Coordination:
- Act as the primary point of contact for liaising with bankers, vendors, and internal teams to ensure smooth LC and BG operations.
- Maintain effective communication with suppliers, customers, and factories to ensure timely processing of LCs and BGs, addressing any issues that may arise.

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