LC discounting

Key Responsibilities

LC Discounting & Trade Finance Operations

• Manage the endtoend LC discounting process, including document scrutiny, submission to banks, followup, and realization.
• Coordinate with banks to ensure timely discounting, acceptance, and settlement of LC-backed receivables.
• Resolve LC discrepancies, short payments, and bank observations in coordination with customers and internal teams.
• Maintain a detailed tracker of LC utilization, maturity dates, due dates, and pending recoveries.

Receivables Accounting & Control

• Oversee accurate accounting of trade receivables, including LC-backed, non-LC, and discounted receivables.
• Ensure timely posting, reconciliation, and aging analysis of customer accounts in ERP systems.
• Review and clear open items, unapplied receipts, short/excess receipts, and debit/credit balance anomalies.
• Support month-end and year-end closing activities related to receivables and trade finance.

Continuous Follow-Up & Stakeholder Coordination

• Conduct continuous and structured follow-ups with:
• Customers for overdue payments, LC acceptance, discrepancy resolution, and remittances.
• Internal Sales, Logistics, and Commercial teams to close pending documentation and billing issues.
• Banks for discounting status, realization delays, interest debits, and charges.
• Escalate long-outstanding receivables, unresolved discrepancies, and risk exposures to management with actionable insights.

Compliance, Audit & Reporting

• Ensure compliance with internal controls, bank requirements, and applicable accounting standards.
• Maintain complete and auditready documentation for LCs, discounting transactions, bank correspondence, and customer confirmations.
• Support internal audits, statutory audits, and bank audits by providing accurate data, explanations, and reconciliations.
• Prepare and circulate MIS reports on receivables aging, LC exposure, discounting costs, and collection efficiency.

Process Improvement & Risk Management

• Identify opportunities to improve receivables turnaround time and reduce DSO.
• Strengthen control mechanisms to minimize credit risk, revenue leakage, and operational delays.
• Assist in standardizing processes, trackers, and SOPs related to LC discounting and receivables management.

Key Skills & Competencies

• Strong knowledge of LC operations, trade finance, and receivables accounting
• Working knowledge of banking documentation, UCP norms, and ERP systems
• Excellent follow-up, coordination, and stakeholder management skills
• High attention to detail, accuracy, and compliance
• Ability to handle multiple priorities and tight deadlines
• Strong communication and escalation skillsRole & responsibilities