This role will be part of the Licensing & Regulatory Management team in JP Morgan and would be working on IDPMS compliances for the entity as a major requirement and will also be supporting other regulatory submissions and interactions related to SEZ and STPI and connected compliance requirements for the Firm.
Job Summary
As an Associate within the Licensing & Regulatory Management team, you will lead daytoday compliance execution for India's Import Data Processing and Monitoring System (IDPMS), ensuring timely closure of import transactions with Authorised Dealer (AD) banks and robust documentation in line with RBI/FEMA and customs requirements. You will coordinate crossfunctionally to reconcile Bills of Entry and Outward Remittance Messages (ORM), prepare management reports on open items and aging, and drive resolution of mismatches with AD banks. In addition, you will support broader regulatory submissions and interactions related to Special Economic Zones (SEZ), Software Technology Parks of India (STPI), and other applicable authorities, maintaining strong stakeholder relationships and delivering pragmatic, compliant solutions
Job responsibilities
- Oversee working with relevant internal teams in monitoring and updating the import transactions (Bill of Entry, Outward Remittance Message) and sharing the same with the AD Bank for closure.Maintain accurate documentation, including invoices and shipping bills, bill of entries as per RBI/AD Bank requirements.
- Coordinate with the internal teams to obtain details on matching bill of entries and obtain details on Outward Remittance Message (ORM) to confirm that foreign payments correspond with the actual goods entering India.
- Prepare monthly reports on open IDPMS entries, aging, pending documentation, and compliance risks for management.
- Review requirements of declarations and update and finalize the formats as per requirement and work with AD bank and authorized signatory to get the same finalized and submitted.
- Coordinate with the internal stakeholders to obtain required information and submit the same to the AD Bank.
- Coordinate with Authorised Dealer (AD) banks to clear pending entries, resolve mismatches and submit necessary documents to close the import cycle.
- Ensuring Compliance with local laws and regulations including Software Technology of Parks India Regulations, Directorate General of Foreign Trade, Pollution Control Board, Special Economic Zones
- Ensuring and tracking these requests through the online tracking tools and coordinating with the internal teams to get their support on submitting the requests online
- Engaging with senior stakeholders, establishing and maintaining good relations with key regulatory authorities. Devising pragmatic yet compliant solutions. Exhibiting high levels of professional maturity.
- Ensuring scope of work review and updates on a timely basis. Overseeing and monitoring services rendered by regulatory vendors, conducting governance discussions and ensuring adherence to SLAs and TPI invoice reviews.
Required qualifications, capabilities, and skills
- In-depth understanding of Foreign Trade Policy, EXIM policy, RBI guidelines, FEMA regulations and Customs procedures.
- Good presentation and communication skills and adept at managing excel sheets and Microsoft applications for data collation.
- Hands on experience in Banking (Trade Finance) or Corporate Treasury/Accounts Payable.
Preferred qualifications, capabilities, and skills
- Law or related area of experience would also be preferred
- Experience working with AD Bank portals, ICEGATE, or ERP systems e.g., SAP, Oracle and understand low code or digitization requirements for vendor payment document management.
- Experience in working on global trade applications.
