India Operations - Foreign Inward Remittance Analyst (FEMA Compliance)

About Mizuho Global Services Pvt Ltd

Mizuho Global Services Pvt Ltd (MGS) operates as a subsidiary of Mizuho Bank, one of Japan's largest mega banks. Founded in 2020, MGS serves as a global processing center handling banking and IT operations for Mizuho's domestic and international branches and group companies. The company fosters a culture emphasizing Mutual Respect, Discipline, and Transparency, supporting ethical values and diverse talent.

Benefits of joining MGS include immense learning opportunities, strong career advancement, mentorship from passionate leaders, and the chance to build processes from the ground up.

Job Location and Shift

The position is based in Chennai, Perungudi World Trade Centre, operating under a rotating shift system. This role requires working from the office. The notice period ranges from immediate joining to up to 30 days.

Primary Responsibilities

• Process Foreign Inward Remittances ensuring adherence to FEMA 2026 regulations, RBI guidelines, bank policies, and customer service standards.
• Handle remittances received via SWIFT, including document scrutiny and purpose verification.
• Maintain compliance with Anti-Money Laundering (AML), Know Your Customer (KYC), and sanctions screening procedures.
• Keep organized records of remittance documents and acknowledgements.
• Prepare Foreign Inward Remittance Certificates (FIRC) as per regulatory and customer demands.
• Generate MIS reports, reconciliations, statements, and regulatory filings.
• Perform daily Nostro, transit, and General Ledger reconciliations, investigating discrepancies, returns, and pending credits.
• Respond efficiently to customer inquiries regarding remittance transactions.
• Support automation and process improvement initiatives to minimize manual interventions and errors.
• Verify export of service transactions alongside supporting agreements.
• Prepare and submit monthly Export Declaration Forms (EDF) within RBI timelines, matching inward remittances to export documentation and contracts.
• Ensure accuracy in purpose codes and FEMA reporting requirements.
• Coordinate with customers and banking counterparts for payment confirmation and clarifications.

Key Skills and Knowledge

• Expertise in FEMA regulations, RBI Master Directions, Export Data Processing and Monitoring System (EDPMS), and Import Data Processing and Monitoring System (IDPMS).
• Deep understanding of export/import documentation, including EDF, shipping bills, Bills of Entry (BOE), FIRC, and electronic Bank Realisation Certificates (e-BRC).
• Experience in trade finance and banking operations.
• Strong analytical skills combined with effective reconciliation and communication capabilities.

Mandated Hands-on Capabilities

• Conduct daily reconciliations across Nostro accounts, transit accounts, and General Ledger.
• Address customer remittance queries promptly.
• Prepare and file monthly EDF submissions for service exports accurately and on time.
• Match incoming remittances against export invoices and customer contracts precisely.
• Apply correct purpose codes and ensure consistent FEMA reporting.
• Collaborate with customers and banks regarding payment verifications.

Additional Information

• Work location is office-based in Chennai with rotational shifts.
• Immediate to 30 days notice period acceptable.
• Strong communication skills, both written and verbal, are required.

Qualifications and Experience

• Graduation in finance and accounting is required.
• Total experience of 4 years in Indian banking operations.
• At least 2 to 3 years of direct experience in processing Foreign Inward Remittances compliant with FEMA 2026 and RBI regulations along with the mandated skills.