International transactions

Experience in Manufacturing or Trading Organisation having significant amount of Import transactions (of Goods and Services) along with Export transactions of Goods

Minimum Experience of 2-3 years in handling international transactions (Imports and Exports)

Hands on experience in handling international payments and also handled export related documentation (including for merchant trade exports)

Coordination with multiple bankers, addressing their questions on documentation involved in Import and export of goods / services

Would have handled documentation related to Letter of Credit , discounting of import bills , etc

Ensuring compliance to FEMA / RBI regulations, whereby timely submission of Bill of Entries is ensured. Also ensuring regulatory compliance on timely submission of collections against export of goods

In case of advance payments for Import of Goods, ensuring that Bill of Entries are submitted and ORM s are closed on time on the IDPMS portal

Similarly in case of Export of Goods, in case collection is delayed beyond the timeline stated by RBI, then appropriate steps to be taken to ensure that there are no FEMA non compliance and intimation to Authorised dealer is made on time

In case of delay in import shipment, timely intimation to Authorised Dealer (AD bank) on potential delay in shipment along with reasons for the same

In case of international payments, to evaluate in case there is a need for hedging the potential FX fluctuation risk. Coordination with Finance team / bankers to ensure hedging is in place and appropriate documentation is maintained

Ensuring that Standard Operating Practices (SOPs) of the organisation laid down in relation to international transactions are followed in its entirety and gaps if any are addressed

In case of Import of Services, ensuring that compliance to Income tax regulations is in place, whereby TDS is deducted in case relevant submissions are not in place

In case of Import and Export transactions, passing of entries in books of accounts, ensuring proper tagging to PO / SO and Payments / Collections are knocked off Invoice wise and balance (if any) is parked in Foreign exchange gain / loss.

Preparing documentation of Unhedged foreign currency exposure (if any)