Banking Executive

Position Title : Banking Executive
Department : Accounts Departments
Reporting to: Senior Manager Finance & Accounts

Purpose : Job description is a part of the company quality policies and procedures.
This standard defines the tasks and responsibilities for the position, in this instance, of Banking Executive at Prabhudas Lilladher Private Limited.
This standard is valid for all employees associated with this role.
Executive Banking in the Finance and Accounts department plays a crucial role in managing banking transactions, ensuring accurate financial records, and supporting financial operations within an organization.
This position involves handling various banking activities, reconciling accounts, coordinating with banks, and maintaining financial documentation.
The objective is to facilitate smooth banking operations, maintain financial accuracy, and support the overall financial management of the organization.

The incumbent shall be responsible for, but not limited to the following:

1.
Banking Operations: Execute day-to-day banking transactions, including processing payments, deposits, and withdrawals.
Ensure adherence to banking procedures and policies while maintaining the security and confidentiality of financial transactions.2.
Bank Reconciliation: Perform regular bank reconciliations by matching financial records with bank statements.
Identify and resolve discrepancies or errors promptly.
Investigate and resolve any outstanding items or issues related to reconciliations.

3.
Account Management: Maintain accurate and up-to-date records of bank accounts, including opening and closing accounts as necessary.
Monitor account balances, interest accruals, and service charges.
Coordinate with banks for account-related queries, statements, and other banking services.

4.
Cash Management: Manage cash flow by monitoring cash positions and making necessary fund transfers between accounts.
Optimize cash utilization, maintain cash forecast reports, and ensure sufficient liquidity for operational needs.

5.
Treasury Operations: Support treasury functions, such as managing bank guarantees, and other financial instruments.
Coordinate with internal departments and banks for timely processing and documentation.

6.
Financial Documentation: Maintain proper documentation and filing systems for banking and financial records.
Ensure compliance with internal policies, regulatory requirements, and audit standards.
Safeguard financial documents and ensure their availability for audit or regulatory purposes.

7.
Coordination with Banks: Serve as the primary point of contact for banking-related matters.
Liaise with banks for account opening, KYC compliance, credit facilities, and other banking services.
Resolve any issues or discrepancies with bank transactions or services promptly.

8.
Compliance and Reporting:
Ensure compliance with banking regulations, internal controls, and financial reporting standards.
Assist in the preparation of financial reports, schedules, and reconciliations related to banking activities.
Support internal and external audits by providing necessary documentation and information.

Education and Experience:

Bachelor's degree in Finance, Accounting, Commerce, or a related field.
Knowledge of banking operations, financial transactions, and relevant banking regulations.

Experience - 2+ years in banking operations, finance, or accounts department.

Essential Competencies –

Familiarity with banking software and online banking platforms.
Proficiency in MS Excel and other accounting software for data analysis and reporting.
Attention to detail and accuracy in financial record-keeping and reconciliation.
Strong analytical and problem-solving skills.
Effective communication and interpersonal skills to collaborate with internal teams and external stakeholders.

Location: Worli, Mumbai.

Interested Candidates please share your resumes on [email protected]