Banking and Commercial Finance Specialist

About the Company and Role

Accord Chemical Corporation is seeking a skilled professional for the Banking & Commercial Finance role within its Finance & Accounts department, based in Borivali East, Mumbai. The position reports directly to the Chief Financial Officer (CFO).

Primary Responsibilities

• Oversee comprehensive banking operations while nurturing relationships with a consortium of banking partners.
• Liaise with banks regarding sanctioning, renewing, enhancing, and documenting both fund-based and non-fund-based credit facilities.
• Ensure strict adherence to bank sanction terms, covenants, and security documentation.
• Monitor daily banking limit utilizations to prevent unauthorized overdrawings and manage temporary enhancements or ad hoc limit requirements through coordination with banks and internal teams.
• Maintain timely submission of stock statements and other required documents to uphold eligible drawing power.
• Manage issuance, amendment, extension, utilization, and closure of Import & Domestic Letters of Credit (LCs), Bank Guarantees (BGs), Standby Letters of Credit (SBLCs), Buyers' Credit, Suppliers' Credit, trade finance, and import finance facilities.
• Work closely with Procurement, Commercial, Logistics, and Suppliers departments to ensure swift execution of trade finance transactions.
• Track ageing of financial instruments like LCs, BGs, import bills, trade finance obligations, and credit facilities; ensure timely follow-ups for retirement, closure, or renewals, and prepare detailed ageing reports highlighting overdue or high-risk items.
• Audit and reconcile bank charges related to LCs, BGs, remittances, forex transactions, commissions, interest, and processing fees; negotiate with banks on pricing and resolve discrepancies.
• Ensure compliance with FEMA, RBI guidelines, UCP 600, and relevant trade finance regulations, including processing of import/export documentation and coordinating foreign remittances and import payments.
• Compile comprehensive MIS reports on bank-wise limit utilization, non-fund-based facility usage, ageing of financial instruments, banking costs, overutilization status, trade finance exposure, facility expiry and renewal schedules, USD exposure, and fund planning for senior management review.

Qualifications and Experience

• Possess M.Com or B.Com degree.
• Have 5 to 10 or more years of progressive experience in Finance & Accounts, preferably within the chemical industry.

Additional Information

Interested candidates meeting the eligibility criteria are invited to send their CV via WhatsApp to Meghana at 8652090383 / 8454097057.

Compensation

Competitive monthly salary ranging between ₹40,000 and ₹50,000.