Executive Import Accounting, Treasury & Bank Reconciliation

Key Responsibilities

1. Import Accounting & Foreign Vendor Payments

• Account for import purchases and all related expenses in compliance with company accounting policies.
• Verify and process import-related documents.
• Pass accounting entries related to:
• Coordinate with banks for import remittances and foreign currency payments.
• Ensure compliance with RBI, FEMA, Income Tax, and other applicable regulatory guidelines related to import transactions.
• Monitor and ensure timely closure of IDPMS/EDPMS transactions and maintain supporting documentation.
• Track advance payments made to overseas suppliers and reconcile them against final invoices and import documentation.
• Maintain records of all paid and outstanding payment requests.
• Review and monitor aging of foreign vendor balances and advances.

2. Treasury Operations

• Manage treasury-related activities including fund planning and payment execution.
• Process import remittances, domestic vendor payments, and inter-plant fund transfers.
• Pass control account entries for plant fund transfers and import payment transactions.
• Coordinate with banks for payment processing, foreign exchange transactions, and banking documentation.
• Monitor foreign exchange exposures and assist in forex reporting.
• Maintain adequate liquidity for operational requirements and payment commitments.
• Support cash flow tracking, treasury reporting, and banking relationship management.

4. Bank Reconciliation

• Prepare daily, weekly, and monthly bank reconciliations.
• Identify, investigate, and resolve unreconciled transactions on a timely basis.
• Monitor bank charges, interest entries, and foreign exchange transactions.
• Coordinate with banks for issue resolution and required documentation.
• Maintain reconciliation schedules and ensure timely closure of open items.

5. Month-End & Year-End Closing Activities

• Prepare bank reconciliation schedules and supporting reports for financial close.
• Reconcile import advances, vendor balances, and treasury accounts.
• Ensure all import-related accounting entries are recorded accurately before month-end closure.
• Support preparation of provisions, accruals, and closing schedules.
• Assist in financial reporting and account reconciliation activities.

6. Audit & Compliance Support

• Assist in statutory audits, internal audits, tax audits, and regulatory reviews.
• Prepare schedules, reconciliations, and supporting documents for auditors.
• Obtain and verify vendor confirmations and balance confirmations from banks where required.
• Ensure proper maintenance of accounting records and audit documentation.
• Support preparation of annual financial statements and compliance reports.
• Ensure adherence to internal controls and company policies.

Required Skills & Competencies

• Strong knowledge of Import Accounting and Foreign Vendor Payments.
• Good understanding of FEMA, RBI regulations, IDPMS/EDPMS processes, and import remittances.
• Experience in Treasury Management and Banking Operations.
• Strong expertise in Bank Reconciliation and General Ledger reconciliation.
• Proficiency in ERP systems such as SAP,
• Advanced MS Excel skills including Pivot Tables, VLOOKUP/XLOOKUP, reconciliation reports, and data analysis.
• Strong analytical, problem-solving, and organizational skills.
• Good communication and stakeholder management abilities.
• Ability to work effectively under strict month-end and year-end deadlines.

Key Performance Indicators (KPIs)

• Timely processing of import and foreign vendor payments.
• Accuracy of import accounting and treasury transactions.
• Timely closure of IDPMS/EDPMS cases.
• Completion of bank reconciliations within agreed timelines.
• Compliance with FEMA, RBI, GST, TDS, and Income Tax regulations.
• Reduction in unreconciled bank and vendor items.
• Timely completion of month-end and year-end closing activities.
• Audit compliance with minimal observations.