Operations Manager Jobs in Mumbai - Credi Agricole CIB Services Pvt. Ltd.

Operations Manager
Credi Agricole CIB Services Pvt. Ltd.
Credi Agricole CIB Services Pvt. Ltd.
Last Date 20 Apr 2020
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Credi Agricole CIB Services Pvt. Ltd. - Job Details

Date of posting: 20 Feb 20

1.     Ensure smooth and efficient functioning of the section and provide timely services to the clients and comply with their requirements.
2.     Verify availability of FEMA undertaking and Fax Indemnity (if required) of the client on records.
3.     Ensure that all correspondences, letters, instructions, agreements, confirmations, acceptances, stamped undertakings are duly signed by the authorised signatories of the client.
4.     Adherence to the FEMA regulations, UCPDC, URR and ISBP provisions and other guidelines of RBI with regard to Import, Letters of Credit Opening and scrutinising of documents presented and that applicable for Trade (Buyer’s/Supplier’s) Credit Transactions.
5.     Ensure to follow the internal guidelines, procedures and norms prescribed from time to time for various types of transactions and businesses.
6.     Monitor the transactions vis a vis the Terrorist List and ensure prompt action, if any required. 
7.     Verify availability of sufficient and appropriate client lines applicable for the transaction during the course of its execution at various stages and the life of the transaction.
8.     To receive and properly maintain the client tariffs (other than standard tariff) authorised by Commercial and apply the appropriate tariff for the transactions.
9.     To raise Referral Tickets for any approvals to be obtained in executing the transaction.
10.  Letter of Credit – Issuance:
v  Verify that the application for the opening of Letters of Credit is duly stamped, properly signed by authorised signatories and enclosed with relevant purchase orders as well as to their completeness in their instructions and documents required. Seek clarifications, if any, required from clients.
v  Ensure that Opening of L/C is within the FEMA regulations, internal procedures and UCPDC, ISBP and URR provisions.
v  Capture the L/C in Banktrade, get it approved, generate the SWIFT / Mail L/C. Ensure that the L/C is sent.
v  Fax/Courier the relevant advice, copy of the L/C to the client.
11.  Letter of Credit – Amendment:
v  Verify that
v  Client instructions for any amendment to the L/C are duly signed by authorised signatories
v  Instructions for amendment are in order and within the parameters of the sanctioned client lines and are complying with the other terms and conditions of the Letter of Credit, provisions of UCPDC, FEMA regulations and import guidelines by RBI
12.  Scrutiny and Lodgement of Documents:
v  Verify that documents submitted under L/Cs by Presenting Banks are compliant with the terms and conditions of the L/C and as per UCPDC, ISBP and URR provisions.
v  Ensure that discrepancy, if any, found in the documents, are listed out.
v  Lodge the Documents and prepare the Presentation Memos and submit to the clients, with the observed discrepancies along with the drafts / stamped undertakings for their acceptance and authority for payment on the due date/at sight.
v  Follow up with clients for their immediate acceptance and payments.
v  To send Documents Refusal Notice to the presenting Bank within the time limits prescribed in UCPDC, in case the documents are refused by clients.
v  To act in accordance with Presenting Bank’s instructions for delivery of refused documents as well as for payment of compliant/accepted documents.
13.  Over-night Message:
v  To send “over-night messages” to the L/C advising Bank to obtain the details of their outstanding charges and to record the pending charges appropriately against the documents for prompt settlement at the time of payment of documents.
14.  Release of Documents:
v  Verify the Documents Release instructions of the client and receipt of accepted Draft / stamped undertaking for payment on the due date.
v  To send prompt intimation of acceptance/payment of documents to the Presenting Bank, upon the client’s acceptance/authorisation for payments is obtained.
15.  Issuing of Shipping Indemnity / Delivery Order:
v  Verify that
v  Shipping indemnity/delivery order requests from clients, to verify that
v  The requests are properly signed by authorised signatories
v  The requests contain the client’s undertaking to accept the documents, irrespective of any discrepancies and to debit their account and make payment of documents.
v  To collect the necessary margin, if any, required as per the sanctioned client lines for sight documents.
v  To obtain necessary risk approvals.
16.  Payments :
v  Execute prompt payments for documents on the due dates (for Usance Docs) / within the applicable time frame (for Sight Docs) to the Presenting Banks, as per their instructions, net off of the outstanding charges, if any, payable to the L/C advising Bank, duly debiting to the client account.
v  Inform Account Manager / Risk department if sufficient funds/ client lines are not available / not in force.
v  In case of Rupee payments inform CSD (in case of issue of Cashier Cheque / Demand Drafts) or Back Office (in case of RTGS payments) for arranging necessary liquidity.
17.  Direct Reimbursements:
v  That the reimbursement claims, in case of L/Cs providing for direct reimbursement,  are in accordance with the terms of the L/C.

v  Inform the clients for necessary funding on the reimbursement date.
v  In case of sight documents, in case the client awaits the presentation of documents to fund the account, then honour the reimbursement claim by debiting the import loan account.
v  Inform Commercial Account Manager / Risk accordingly.
v  Authorise the Reimbursing Bank for honouring the claims made, if not already provided at the time of opening of L/C.
v  Look out for the receipt of documents, receive, scrutiny, prepare and submit presentation memo to the clients.
v  Obtain client’s approval for discrepancies, if any and obtain payment authority for debiting the account.
v  Reverse the L/C liabilities/import loan account.
18.  In case of Buyer’s/Supplier’s Trade Credit Transactions:
v  Verify that
·         Proper Trade Credit Sanction is obtained
·         Lending Bank’s Offer is on record
·         Client’s instructions to avail the Trade Credit is obtained
·         Client’s stamped undertaking to debit their account and pay on the due date is received
·         Availability of appropriate client lines for the commitment
·         Booking of commitment in the system.
·         RBI approval, if any, required for issuing Bank’s undertaking to Lending Bank, is in place.
·         Prompt funding by clients and effect payment on due dates
19.  Crystallization and Devolvement of Bills:
v  To Crystallize the unpaid sight bills beyond 10 days of their receipt or on respective due dates and account them under L/C devolved portfolio of the client.
v  Inform Account Manager / Risk Department accordingly.
20.  Position Reporting and Exchange Rates:
Report the currency positions / taking delivery of Forwarding Contracts to Treasury / Back Office and obtain appropriate rates for conversions.
21.  Monitor the outstanding expiries of L/Cs, maturities of Buyer’s Credits and Bills under Acceptances and ensure the prompt reversal of liabilities after the applicable cooling period, funding by clients and payments.
22.  Promptly Fax, Courier and e-mail the Transaction Advice, L/Cs, Presentation Memos to the clients to avoid any queries and to receive their instructions in time.
23.  Provide timely information to clients of any messages received from Remitting Banks and seek their instructions and to act accordingly.
24.  Bills of Entry and BEF:
v  To follow up with clients for submission of Exchange control copy of the Bills of Entry for the import payments effected within the time frame prescribed (in case of Usance Bills- BOEs are to be submitted on or before the respective due date for payment).
v  To verify the BOEs received vis a vis the import transaction particulars.  Record the receipt in the Intranet System and provide acknowledgement to the clients.
v  To send reminders to clients on a monthly basis of all pending BOEs to be received from clients.
v  To safe keep the reminders sent for scrutiny by Auditors and Reserve Bank Inspectors and as evidence of our follow up as envisaged in the FEMA regulation.
v  To forward copies of few Bills of Entry to the Customs Authorities for verification on a monthly basis. Safely keep the acknowledgements and confirmations received
v  To safe keep the Bills of Entry for audit/RBI Inspection purposes.
v  Ensure timely compilation and submission of various regulatory statements    (R-Return, BEF, Trade Credit Statements etc ).
25.  Undertake safe custody of live documents and other items within the area of responsibility.
26.  Ensure periodical Balancing of outstandings with system and verification of physical stock.  
27.  Monitor the outstandings in Wash accounts, wrong structure accounts and initiate adequate steps to rectify/respond the same.
28.  Co-ordinating with other staff in CPC and branches in smooth execution of transactions.
29.  Performing and completion of duties as prescribed in DCFC.
30.  Ensure proper documentation/filing/scanning and orderly archiving of all documents relating to the transactions handled.
31.  Any other jobs assigned by the Head- Trade Finance or Head-Operations or Chief Operating Officer.

Job Summary

Job Type : Full Time
Job Category : BSc/BCA/BBM,Management
Hiring Process : Face to Face Interview
Who can apply : Freshers

About Credi Agricole CIB Services Pvt. Ltd.

Credi Agricole CIB Services Pvt. Ltd.
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