Commercial Finance

COMPANY NAME: Accord Chemical Corporation 

POSITION: BANKING & COMMERCIAL FINANCE

DEPARTMENT: Finance & Accounts

REPORTING TO: Chief Financial Officer (CFO) 

LOCATION: Borivali East, Mumbai

KEY RESPONSIBILITIES:

Banking Operations

•  Manage end-to-end banking operations and maintain relationships with consortium/multiple banking partners.

•  Coordinate with banks for sanction, renewal, enhancement, and documentation of non-fund-based & Fund based credit facilities.

•  Ensure compliance with bank sanction terms, covenants, and security documentation.

Banking Exposure & Overdrawing Control

•  Monitor daily utilization of banking limits to prevent overutilization or unauthorized overdrawing.

•  Coordinate with banks and internal stakeholders for temporary enhancements or ad hoc limits when required.

•  Ensure timely submission of stock statements and other documents to maintain eligible drawing power.

Non-Fund-Based Credit Facilities

•  Manage the issuance, amendment, extension, utilization, and closure of:

o  Import & Domestic Letters of Credit (LCs)

o  Bank Guarantees (BGs)

o  Standby Letters of Credit (SBLCs), where applicable

o  Buyers' Credit / Suppliers' Credit

o  Trade Finance and Import Finance facilities

•  Monitor the utilization of sanctioned limits and ensure adequate availability for business operations.

•  Coordinate with Procurement, Commercial, Logistics, and Suppliers for timely execution of trade finance transactions.

Ageing & Monitoring

•  Monitor ageing of:

o  Outstanding Letters of Credit

o  Bank Guarantees

o  Import bills under LC

o  Buyers' Credit / Suppliers' Credit

o  Bills payable and trade finance obligations

•  Follow up with internal departments and banks to ensure timely retirement, closure, or renewal of instruments.

•  Prepare ageing reports and highlight overdue or high-risk items to management.

Bank Charges & Cost Optimization/ Negotiation

•  Verify bank charges related to LCs, BGs, remittances, forex transactions, commissions, interest, and processing fees.

•  Reconcile banking charges with agreed pricing and identify discrepancies.

•  Liaise with banks to resolve excess or incorrect charges and negotiate competitive pricing.

•  Monitor overall banking costs and recommend cost optimization initiatives.

Trade Finance & Compliance

•  Ensure timely processing of import/export documentation.

•  Monitor compliance with FEMA, RBI guidelines, UCP 600, and applicable trade finance regulations.

•  Coordinate foreign remittances and import payments with banks.

Reporting & MIS

•  Prepare MIS reports covering:

o  Bank-wise limit utilization

o  Non-fund-based facility utilization

o  LC/BG ageing

o  Bank charge analysis

o  Overdrawing/overutilization status

o  Trade finance exposure

o  Facility expiry and renewal schedules

o  USD Exposure 

o  Fund Planning

•  Present periodic reports to the CFO and senior management.

Qualifications

•  M.COM/B.COM 

Experience

•  5–10+ years of progressive experience in Finance & Accounts in a Chemical industry.

eligible may send cv by whasapp to Meghana 8652090383 / 8454097057