Manager-LC Verification

Published On

13 Sep 2023

Company Information

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.

Manager-LC Verification

Walton Hi-Tech Industries PLC.

Vacancy

1

Job Responsibilities

  • Ensure & responsible for 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.
  • Good understanding of the terms and conditions of Letters of Credit issued by the bank or financial institution.
  • 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.
  • Check and verify all the Bank proposals for new limits, limit enhancement, specific limits, L/C limits, nonfunded limits, takeover, and renewal.
  • Track and observe every step of the shipping process, including the estimation of the time needed and the date of dispatch.
  • Conversant with Trade Finance Product as well as UCP600, ISP98 and URR725.
  • Good understanding of various SWIFT message types.
  • Communicate with exporters, shipping companies, and other pertinent parties to correct anomalies in documents and acquire any clarifications that are required.
  • Communicate with internal departments such as SCM, Finance & Accounts, bill verification and compliance to facilitate smooth processing.
  • Identify and assess potential risks associated with the verification process, including credit risk, legal risk, and compliance risk and take appropriate actions to mitigate these risks.
  • Responsible for Maintaining accurate records of all verified documents and transactions related to Foreign Purchase bills.
  • 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 issued to the supplier/adjusting with the payable amount and take approval from Reporting Supervisor and Managing Director after reaching the warehouse.
  • Checking the quantity received according to purchase order or list, find out any difference/ Shortage, Debit note issued to supplier/adjust with the payable amount
  • Supervise and mentor a team of LC document verification specialists & provide guidance, training, and support to team members.
  • 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 and hard Copy.


Employment Status

Full-time


Educational Requirements

  • M.Com/MBA/MBS/ CA/CC/MA in any discipline.

Experience Requirements

  • At least 10 year(s)
  • The applicants should have experience in the following area(s):
    Commercial and Banking


Additional Requirements

  • Age at least 35 years
  • Strong knowledge in Trade Finance, international banking, commercial, RMG & manufacturing.
  • Mature, meticulous and possess a high level of discretion and integrity
  • Service-oriented with excellent interpersonal and communication skills
  • Takes broad perspective in evaluating and providing solutions
  • Resourceful and able to work effectively as an individual as well as in a team
  • Compliance and risk management knowledge
  • Problem-solving and decision-making capabilities
  • Proficiency in using foreign banking and LC-related software and systems.

Job Location

Anywhere in Bangladesh

Salary

    Negotiable

Compensation & Other Benefits

  • As per company policy.


Job Source

Bdjobs.com Online Job Posting.

Published on: 13 Sep 2023

Vacancy: 
1

Employment Status: Full-time

Experience: At least 10 year(s)

Age: Age at least 35 years

Job Location: Anywhere in Bangladesh

Salary: Negotiable

Application Deadline: 30 Sep 2023


Applicants are encouraged to submit Video Resume

Read Before Apply

Applicants are encouraged to submit Video Resume.

*Photograph must be enclosed with the resume.

Apply Procedure





Application Deadline : 30 Sep 2023

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