Job Description
Title: Executive - LC Verification
Company Name: Walton Hi-Tech Industries PLC.
Vacancy: 7
Job Location: Dhaka
Employment Status: Full-time
Educational Requirements:
∎ M.Com/MBA/MBS in any discipline.
∎ Candidates with CA/CC will get preference.
∎ Skills Required: Analytical ability, Auditing, Effective communication and interpersonal skills, Facts Findings, Presentation skill
Experience Requirements:
∎ 2 to 5 year(s)
∎ The applicants should have experience in the following business area(s):
Manufacturing (FMCG), Electronic Equipment/Home Appliances, Trading or Export/Import, Group of Companies
Job Responsibilities:
∎ Check & verify 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.
∎ A comprehensive understanding of the conditions and terms of letters of credit provided by banks or other financial institutions.
∎ 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.
∎ Review and confirm all the Bank proposals for new limits, limit enhancement, specific limits, L/C limits, nonfunded limits, takeover, and renewal.
∎ Track and monitor 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.
∎ Interconnect with exporters, shipping companies, and other pertinent parties to correct anomalies in documents and acquire any clarifications that are required.
∎ To ensure efficient processing, communicate with internal divisions including SCM, Finance & Accounts, bill verification, and compliance.
∎ Determine and evaluate any potential risks connected with the verification process, such as credit, legal, and compliance concerns and take the necessary steps to reduce 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.
∎ Comparing the quantity received to the purchase order or list, identifying any discrepancies or shortages, and issuing a debit note to the supplier or adjusting the payable amount
∎ 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 23 years
∎ Strong knowledge in Trade Finance, international banking, commercial, RMG & manufacturing.
∎ Proficiency in using foreign banking and LC related software and systems.
∎ Proficiency in using Microsoft Office.
Salary: Negotiable
Compensation & Other Benefits:
∎ Mobile bill, Provident fund, Insurance
∎ Lunch Facilities: Partially Subsidize
∎ Salary Review: Yearly
∎ Festival Bonus: 2
∎ As per company policy.
Job Source: Bdjobs.com Online Job Posting.
Application Deadline: 1 Oct 2023
Company Information:
∎ 20 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
:
