1. Direct Recourse under Letter of Credit - Operations Specialist
Responsibilities:
- Daily generation and analysis of Business Object reports related to Letter of Credit activities.
- Proactive follow-up on payments and past due obligations with Letter of Credit opening banks.
- Ensuring timely and accurate dispatch of acceptance and payment tracers.
- Meticulous scrutiny of documents presented under Letters of Credit.
- Authorization of bill entries within the system for all relevant events.
- Efficiently raising and tracking exception approvals for discrepancies.
- Prompt and clear communication of document discrepancies to clients.
- Tracking and ensuring approvals for interest rates and handling charges related to bill discounting.
- Adherence to necessary process notes for acceptance documents with single signatures.
- Diligent monitoring of SMFS acceptance processes.
- Ensuring signature verification for physical acceptance documents following established process notes.
2. Export Collection/Discounting/Loans/Liquidation Authoriser - Trade Finance Officer
Responsibilities:
- Weekly generation of Outstanding Bills reports from OBIEE for approval in line with Board Notes.
- Daily generation of Past Due Obligation Bills reports from the OBIEE system.
- Daily generation of Outstanding Loans Reports from the OBIEE system.
- Thorough checking of Office of Foreign Assets Control (OFAC) and Specially Designated Nationals (SDN) lists.
- Effective monitoring of transaction disposal based on instructions from Relationship Managers, Corporates, and the Service Desk.
- Daily/monthly preparation of Quality Initiative Group (QIG) data for the Central Processing Unit (CPU) Trade Finance.
3. Letter of Credit Authoriser - Trade Finance Officer
Responsibilities:
- Comprehensive scrutiny of Letter of Credit applications.
- Rigorous performance of signature verification.
- Ensuring consistency across all documents, clauses, and details within the LC.
- Verification of compliance with internal guidelines, FEMA regulations, OFAC/SDN lists, and Harmonised System of Nomenclature (HSN) codes.
- Checking for any Outstanding Post Due Obligations of the applicant.
- Reviewing Credit Appraisal Memos to ensure adherence to approved conditions.
- Verification of credit limits within the system and timely escalation for limit requests to relevant teams (Business Banking Operations, Credit).
General Requirements (Applicable to all roles):
- Strong understanding of trade finance principles and practices, particularly related to Letters of Credit and Export finance.
- Excellent analytical and problem-solving skills with a keen eye for detail.
- Ability to interpret and apply regulatory guidelines (e.g., FEMA).
- Proficiency in generating and analyzing reports.
- Strong communication and interpersonal skills.
- Ability to work independently and as part of a team.
- Experience with relevant banking systems and software (e.g., OBIEE, FCC, Trade Stream) is advantageous.
Additional Responsibilities (May be shared across roles):
- Conducting meetings with clients and Relationship Managers to educate them on reducing errors in documentation.
- Monitoring the updating of inward messages in relevant tracking systems.
- Contributing to half-yearly Export Outstanding (XOS) reporting.
- Monitoring the accurate calculation and refund of interest.
- Assisting in the updation and circulation of charges approvals.
- Liaising with the Reserve Bank of India (RBI) for referred cases.
- Performing Financial Risk Management System (FRMS) checks.
- Verifying Foreign Inward Remittance Certificate (FIRC) utility for partial payments.
- Checking Export Data Processing and Monitoring System (EDPMS) for shipping bills.
- Participating in fortnightly reviews of booked bills for MIS and transaction details.
- Ensuring compliance with Risk-Based Pricing (RBP) for Return on Investment (ROI).
- Verifying eligibility for Interest Equalisation Schemes and ensuring subvention checks.
- Confirming that charges are applied as per approved guidelines.
- Tracking inward messages and ensuring timely processing.
- Preparing and submitting cases to the RBI for approvals.
