Join Walton Hi-Tech Industries PLC. as Executive in LC Verification

Walton Hi-Tech Industries PLC is the leading manufacturer of innovative multi-staged technology.

Vacancy: 07

Vacancy Type: Full-time

Role: Executive

Job Responsibilities:

• Check and verify 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.
• A comprehensive understanding of the conditions and terms of letters of credit provided by banks or other financial institutions.
• Make sure that any documents submitted for verification comply with the LC requirements, and deal with any differences as soon as they arise.
• Review and confirm all the Bank proposals for new limits, limit enhancement, specific limits, L/C limits, non-funded limits, takeover, and renewal.
• Track and monitor every step of the shipping process, including the estimation of the time needed and the date of dispatch.
• Conversant with Trade Finance Products as well as UCP600, ISP98, and URR725.
• Good understanding of various SWIFT message types.
• Interconnect with exporters, shipping companies, and other pertinent parties to correct anomalies in documents and acquire any clarifications that are required.
• To ensure efficient processing, communicate with internal divisions including SCM, Finance and Accounts, bill verification, and compliance.
• Determine and evaluate any potential risks connected with the verification process, such as credit, legal, and compliance concerns, and take the necessary steps to reduce 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, a Debit note issued to the supplier/adjust with the payable amount and take approval from the Reporting Supervisor and Managing Director after reaching the warehouse.
• Comparing the quantity received to the purchase order or list, identifying any discrepancies or shortages, and issuing a debit note to the supplier or adjusting the payable amount
• 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.

Requirements:

• Com/MBA/MBS in any discipline.
• Candidates with CA/CC will get preference.
• Skills Required: Analytical ability, Auditing, Effective communication and interpersonal skills, Facts Findings, Presentation skill
• Experience Requirements: 2 to 5 years (s).
• The applicants should have experience in the following business area(s): Manufacturing (FMCG), Electronic Equipment/Home Appliances, Trading or Export/Import, and Group of Companies.

Additional Requirements:

• Age at least 23 years.
• Strong knowledge in Trade Finance, international banking, commercial, RMG and manufacturing.
• Proficiency in using foreign banking and LC-related software and systems.
• Proficiency in using Microsoft Office.

Job Location: Dhaka.

Salary: Negotiable.

Benefits: As per the Company policy.

Application Deadline: 01 October, 2023

Application link: https://tinyurl.com/mv5982x6