India Operation Local Remittance - FEMA- 2+Yrs

Job description

Mizuho Global Services Pvt Ltd (MGS) is a subsidiary company of Mizuho Bank, Ltd, which is one of the largest banks or so called ‘Mega Banks’ of Japan. MGS was established in the year 2020 as part of Mizuho’s long-term strategy of creating a captive global processing center for remotely handling banking and IT related operations of Mizuho Bank’s domestic and overseas offices and Mizuho’s group companies across the globe. At Mizuho we are committed to a culture that is driven by ethical values and supports diversity in all its forms for its talent pool. Direction of MGS’s development is paved by its three key pillars, which are Mutual Respect, Discipline and Transparency, which are set as the baseline of every process and operation carried out at MGS. **What’s in it for you** o Immense exposure and learning o Excellent career growth o Company of highly passionate leaders and mentors o Ability to build things from scratch **Know more about MGS:** **https://www.mizuhogroup.com/asia-pacific/mizuho-global-services** **Position:-** India Operation Local Remittance - FEMA **Job Location: -** Chennai-Perungudi World Trade Centre **Shift:-** Rotational shifts work from office role **Notice period:-** immediate to 30 days The role will primarily be responsible for processing Foreign Inward Remittances in compliance with FEMA 2026 regulations and related regulatory guidelines. **Key responsibilities will include:** 1. Ensure accurate, timely and compliant processing of foreign remittances in line with RBI/FEMA guidelines , bank policies and customer service standards. 2. Processing foreign remittances received through SWIFT 3. Scrutinize remittance purpose and supporting document as per RBI/FEMA guidelines. 4. Ensure compliance with AML,KYC, and sanction screening norms. 5. Maintain proper records of remittance document and acknowledgements, 6. Preparing FIRC as per customer request and regulatory requirements 7. Prepare MIS, reconciliation, statements and regulatory reports. 8. Perform daily reconciliation (Nostro, transit, GL) 9. Investigate and resolve discrepancies, returns, and pending credits 10. Respond to customer queries related to remittance 11. Support automation initiative and process enhancements to reduce manual effort and errors. 12. Verify export of service transactions and supporting agreements. 13. Prepare and submit monthly Export Declaration Forms (EDF) for service exports. 14. Ensure EDF filing within RBI-prescribed timelines. 15. Match inward remittances with export invoices and contracts. 16. Ensure correct purpose codes and FEMA reporting. 17. Coordinate with customers and banks regarding payment confirmations. 18. Strong knowledge of FEMA, RBI Master Directions, EDPMS, and IDPMS. 19. Understanding of export/import documentation. 20. Experience in handling EDF, shipping bills, BOE, FIRC, e-BRC, and foreign remittances. 21. Working knowledge of trade finance and banking operations. 22. Good analytical, reconciliation, and communication skills. 23. Processing and monitoring Foreign Inward Remittance transactions within defined service levels. 24. Ensuring compliance with FEMA, RBI regulations, and other applicable regulatory requirements. 25. Reviewing transaction documents and validating underlying purpose codes and reporting requirements. 26. Coordinating with business units, relationship managers, and customers for obtaining required documentation and clarifications. 27. Managing regulatory reporting and maintaining audit-ready records. 28. Identifying and escalating exceptions, compliance concerns, and operational risks in a timely manner. 29. Supporting process improvement initiatives to enhance operational efficiency and control effectiveness. **Mandate skills- Hands on** - Perform daily reconciliation (Nostro, transit, GL) - Respond to customer queries related to remittance - Prepare and submit monthly Export Declaration Forms (EDF) for service exports. - Match inward remittances with export invoices and contracts. - Ensure correct purpose codes and FEMA reporting. - Coordinate with customers and banks regarding payment confirmations. - Strong knowledge of FEMA, RBI Master Directions, EDPMS, and IDPMS. - Understanding of export/import documentation. - Experience in handling EDF, shipping bills, BOE, FIRC, e-BRC, and foreign remittances. - responsible for processing Foreign Inward Remittances in compliance with FEMA 2026 regulations and related regulatory guidelines. - Excellent communication skills(verbal & written). **Qualification:-** graduate in finance and accounting **Experience:-** Total- 4yrs in Indian banking Operation Relevant exp 2- 3 + yrs in Experience in processing Foreign Inward Remittances in compliance with FEMA 2026 regulations and related regulatory guideline including mandate skills . Interested can apply for this job. Thanks MGS HR