Assistant Manager - LC Verification
Job Description
Title: Assistant Manager - LC Verification
Company Name: Walton Hi-Tech Industries PLC.
Vacancy: 2
Job Location: Dhaka
Employment Status: Full-time
Educational Requirements:
∎ M.Com/MBA/MBS in any discipline.
∎ Candidates with CA/CC will get preference.
Experience Requirements:
∎ 5 to 7 year(s)
∎ The applicants should have experience in the following business area(s):
Group of Companies, Manufacturing (FMCG), Trading or Export/Import
Job Responsibilities:
∎ Ensure & responsible for all documents comply with the terms and conditions of the Letter of Credit, Import procedure, international trade regulations, and company policies.
∎ Pre-imported documents undergo thorough scrutiny together with historical data analysis for price assumptions from various comparative statements.
∎ Good understanding of the terms and conditions of Letters of Credit issued by the bank or financial institution.
∎ Make sure that any documents submitted for verification are in compliance with the LC requirements, and deal with any differences as soon as they arise.
∎ Check and verify all the Bank proposals for new limits, limit enhancement, specific limits, L/C limits, nonfunded limits, takeover, and renewal.
∎ Track and observe every step of the shipping process, including the estimation of the time needed and the date of dispatch.
∎ Conversant with Trade Finance Product’s as well as UCP600, ISP98 and URR725.
∎ Good understanding of various SWIFT message types.
∎ Communicate with exporters, shipping companies, and other pertinent parties to correct anomalies in documents and acquire any clarifications that are required.
∎ Communicate with internal departments such as SCM, Finance & Accounts, bill verification and compliance to facilitate smooth processing.
∎ Identify and assess potential risks associated with the verification process, including credit risk, legal risk, and compliance risk and take appropriate actions to mitigate these risks.
∎ Responsible for Maintaining accurate records of all verified documents and transactions related to Foreign Purchase bill.
∎ Cost optimization scope searching at every point.
∎ Calculation of LC amendments (if necessary), late fees, actual payments, etc.
∎ Analysis post import cost analysis, Variance, total import cost, unit cost, cost variance etc.
∎ Preparing LC Cost sheet, delay calculation, port demerge, shipping demerge, Debit note issue to supplier/adjust with payable amount and take approval from Reporting Supervisor and Managing Director after reaching the warehouse.
∎ Checking the quantity received according to purchase order or list, find out any difference/ Shortage, Debit note issue to supplier/adjust with payable amount
∎ Supervise and mentor a team of LC document verification specialists & provide guidance, training, and support to team members
∎ Continuously evaluate and improve the efficiency and effectiveness of the LC bill verification process.
∎ Stay updated on changes in international trade regulations and banking practices.
∎ Prepare regular reports on the status of LC bill verification processes, including performance metrics and compliance issues.
∎ All individual LC files are updated in soft copy & Hard Copy.
Additional Requirements:
∎ Age at least 27 years
∎ Experience in Commercial and Banking will add an advantage.
∎ Strong knowledge in Trade Finance, international banking, commercial, RMG & manufacturing.
∎ Mature, meticulous, and possess a high level of discretion and integrity
∎ Service-oriented with excellent interpersonal and communication skills
∎ Takes broad perspective in evaluating and providing solutions
∎ Resourceful and able to work effectively as an individual as well as in a team
∎ Compliance and risk management knowledge
∎ Problem-solving and decision-making capabilities
∎ Proficiency in using foreign banking and LC related software and systems.
Salary: Negotiable
Compensation & Other Benefits:
∎ Mobile bill, Provident fund, Insurance
∎ Lunch Facilities: Partially Subsidize
∎ Salary Review: Yearly
∎ Festival Bonus: 2
Job Source: Bdjobs.com Online Job Posting.
Application Deadline: 27 Sep 2023
Company Information:
∎ 16 Sep 2023
∎ Walton Hi-Tech Industries PLC.
∎ Address : Dhaka Corporate Office: Plot-1088, Road # 80ft-2, Block-I, Bashundhara R/A, P.O- Khilkhet, P.S-Vatara, Dhaka-1229.
Category: Accounting/Finance
:
Source: bdjobs.com
Deadline Expired on 27th Sep 2023
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