Research Associate at Antal International
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Senior General Manager - EXIM Finance - CA/CMA (12-20 yrs)
Sr. General Manager EXIM Finance
Exim Finance Management
- Manage the Foreign Exchange risk in Imports & Exports across the various divisions of the company by defining strategy with top management after a thorough analysis of the market movements & happenings around the world.
- Identification and tracking of various Banking transaction costs (excluding finance costs) charged by banks such as negotiation charges, LC opening/closing charges, TT charges, etc. and focus on reduction of these costs by negotiating with existing banks and developing relationships with other banks.
- Keep abreast of new notifications (statutory) related to EXIM banking & finance and their impact on the Business.
- Monitor and streamline Advance License application and redemption process and ensure completion of all redemptions within statutory timelines.
- Ensure statutory compliance with regard to all documentation.
- Banking for imports and exports under the Foreign Exchange Management Act (FEMA) and the Reserve Bank of India (RBI) master circulars and amendments and ensuring efficient service levels at most competitive cost.
- Avail Finance against imports via suppliers credit and buyers credit and against exports under pre cum post shipment credit from bankers at lowest rates.
- Streamline import accounting system to eliminate non-value-added activities related to Exim banking & finance.
- Monthly accounting for restatement of foreign currency assets and liabilities, MTM (Mark to Market) & other PTBA (Post Trial Balance Account) entries.
- Cash book for Export & Import banking transactions - Ensure timely entry of export & import bank advices, accuracy in accounting of transactions and determine proper authorization levels for entries. Work towards automation of cash book entries and linking the same to ERP Export system so that BRCs (Bank Realization Certificates) are generated through system.
- Monthly monitoring and reporting of Foreign Exchange gain/loss, export sales (deemed & physical), export outstandings beyond due date with bank report, foreign currency loans outstanding, large export project financing and monthly tracking of exports & imports. Weekly reporting of Forex exposure.
Controllership & Commercial Operations
- Interacting with Legal Department and Corporate Secretarial Department to ensure statutory compliances and interacting with external agencies for resolving legal / commercial issues.
- Perusal of commercial documents / agreements and suggesting amendments in legal/commercial documents / agreements.
- Make Buy vs Leasing decisions and periodic monitoring of efficiency of leasing.
- Ensuring Team members are up to date on new developments in their field of work and nominating them for relevant external / internal training programs, seminars & conferences.
- Identification of various Risks that Company could be exposed to relating to Corporate Procurement and Exim Finance Department and identify mitigation plan with responsibility and timelines and monitor effectiveness of the mitigation plan. Identify related processes that need to be strengthened to mitigate the identified risks and formulation of a Risk Register approved by Risk Management Committee.
- Minimize/eliminate losses due to forex fluctuations.
- Ensure compliance of laws related to foreign exchange transactions.
- CA / CMA with minimum 12 years of experience in EXIM Finance.
- Knowledge of Foreign Exchange Management Act, DGFT, Advance license , Foreign Trade.