This position is responsible for managing all the import and export transactions, managing the FX exposure, identifying the critical treasury areas needed for automation, managing the relationship with key internal & external stakeholders, and keeping the track on macroeconomic numbers.
Hedging Import & Export exposure
Adherence to timely issuance of Letter of Credit & Bank Guarantees
Adherence to Accounting with regards to Collections & Payments
Adherence to MIS and monthly closure timelines
Adherence to organizations Forex Policy
Adherence to statutory compliances
Functions And Responsibilities
Formulating a well-rounded hedging plan for averting the running risk of foreign exchange fluctuations for the anticipated and actual exposures.
Engage in regular interactions with the Imports, Exports and Projects team to gain information on specifications and details on materials to be imported and exported.
With regards to imports coordinating & interacting with banks that documents are getting released on time, so that there is no delay in getting the goods.
Ensuring that Bank Guarantees & Letter of Credit are open on time, also optimum utilisation of the Banking Limits.
Planning the payments in coordination with Cash Flow team, which will help in utilising the cash effectively.
Interactions with the Banks to assess the availability and utility of short termfunding products like Packing Credit, Buyers Credit, Suppliers Credit etc.
Engaged daily on research and updates from the market on all macro parameters.
Ensure regular carrying out accounting entries for import & export transactions including MTM on FX exposure and revaluation of Debtors & Creditors.
Timely Clearance of open items in Bank Reconciliation
Timely reconciling GST on Treasury related transaction with the GST uploaded by Bank
Compliance and Documentation
Overlooking and ensuring that all compliances that are set by the Reserve Bank of India like UFCE, PP Certificate and Quarterly Information Statements are fully complied.
Ensuring that Bill of Entries are cleared on timely
Ensure regular updation of MIS of FX & Borrowings so as to provide updates to the leadership on various aspects of treasury operations pertaining to export
Ensure complete and accurate recording and updation of documentation of Bank charges and other charges levied by the bank and other financial institutions
Ensuring cooperation and assistance to the Audit Department and providing necessary documents for the flawless completion of monthly / annual audits
Mentor, provide operational leadership and technical guidance to the team, thereby developing a strong and competent team
Conduct effective performance appraisals for the team and identify training needs
Motivate, counsel and coach employees to ensure a conducive working environment