Associate - Trade Finance Operations

IDFC FIRST Bank; India; On-site; INR 600,000 - 900,000; Full time

Job summary

IDFC FIRST Bank in India seeks an Associate - Trade Finance Operations to manage capital account transactions (ECB, ODI, FDI, LO/BO/PO) under automatic and approval routes, with emphasis on regulatory reporting and operations. Strong operational background required.

The role involves maintaining MIS, ensuring SOP compliance, and coordinating with branches to resolve discrepancies and achieve timely filings in line with RBI guidelines.

Qualifications

• Knowledge of Capital Account products like ODI, FDI, ECB, LO/BO/PO and regulatory reporting.
• Experience in operations perspective is required.
• Graduate or Post Graduate qualification is essential.

Responsibilities

• Processing of Capital Account transactions like ECB, ODI, FDI, LO/BO/PO.
• ECB - handling filings, RBI forms, LRN, ECB-2 and remittance approvals; maintain records.
• Adhere to FDI guidelines; handle approvals in FIRMS RBI application; liaison with branches for discrepancies.
• Ensure ODI transaction compliance.
• Maintain MIS and provide stakeholder reports; follow up on overdue items.
• Timely processing to meet client expectations.
• Assist in regulatory checks as required.
• Review SOPs and obtain stakeholder approvals.
• Identify risks and implement adequate controls for compliance.
• Handle regulatory queries and reporting requirements.

Skills

Capital account processing

Regulatory reporting

Audit readiness

MIS reporting

Regulatory risk controls

SOP compliance

Regulatory liaison

Education

Graduate or Post Graduate

Tools

FIRMS application

Job description

Job Description:

Job Requirements

Role/ Job Title:

Associate - Trade Finance Operations

Function/ Department:

Wholesale Banking Operations

Job Purpose:

The incumbent in this role should be having knowledge in Capital A/ C Products like ODI, FDI, ECB, LO / BO/ PO and regulaotry reporting associated with it. Should have a prior experience from an operations perspective.

Roles & Responsibilities:

• Processing of Capital Account Trnx like ECB, ODI, FDI, LO / BO / PO
• ECB - Processing under automatic route and approval route, Guidance to the Branch & Customer about filing of Form ECB or any other document, obtaining LRN from RBI, follow up for filing of Form ECB-2, filing ECB 2 with RBI, Maintaining Record of all ECBs sanctioned and ECB 2 filing, approving ECB remittances.
• Ensuring adherence to guidelines pertaining to FDI transactions. Handling approvals of FCGPR / FCTRS etc. in the FIRMS application of RBI. Liaising with branches for discrepancy resolution, if any.
• Ensuring adherence to guidelines pertaining to ODI transactions
• Manage and achieve satisfactory audit rating and error free operations.
• Maintaining MIS, reporting to stakeholders and follow-up for overdue.
• Timely processing meeting client expectations
• Assist in transactional regulatory checks as required.
• Enure processing is in line with the internal standard operating procedures (SOPs) and regulatory guidelines. Review of SOPs at frequent intervals and obtaining sign offs from concerned stakeholders.
• Identifying risks and ensuring that there exist adequate controls (automated / manual) to ensure compliance with applicable rules and regulations.
• Ability to handle regulatory queries / reporting related requirements

Educational Qualification:

Graduate/Post Graduate

Experience:

2-5 yrs.