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Date : Jan 23, 2014
Recruitment of Chief Financial Officer (CFO) for Deposit Insurance and Credit Guarantee Corporation (DICGC) on contract basis

1. Applications are invited for one post of Chief Financial Officer (CFO) for Deposit Insurance and Credit Guarantee Corporation (DICGC) on contract basis for an initial period of three years.

(i) There is no reservation for SC/ST/OBC candidates. However, they can apply as General candidates without being eligible for any concession/relaxation.

(ii) There is no reservation for Persons with Disabilities (PWD). However the PWD candidates are eligible to apply as a General candidate without any concession except for age relaxation. PWD candidate should submit a latest certificate to this effect issued by an authorized Government of India/State Government Department/Hospital.

2. Eligibility Criteria (as on 01.01.2014):

(i) Age: The applicant should be between 40-55 years of age. In case of PWD candidates, age relaxation as per extant Government of India instructions, will be provided.

(ii) Qualifications: He/she should be a qualified Chartered Accountant.

(iii) Experience: Fifteen years in overseeing financial operations including accounting and taxation matters in a large financial firm, of which at least five years should have been in Senior Management positions (Deputy General Manager or equivalent or above). Prior experience as CFO in a financial firm would be desirable.

3. Terms and conditions of appointment of CFO in DICGC on contract basis:

(i) Period: The contract appointment of Chief Financial Officer (CFO) in Deposit Insurance and Credit Guarantee Corporation (hereinafter called as Corporation) will be initially for a period of three years from the date of his taking up the appointment, subject to review. The contract will be terminable on either side with a notice of three months or compensation thereof. The person appointed as CFO would be exclusively in the service of the Corporation only. Under no circumstance CFO will have right to be absorbed back into RBI.

(ii) Job responsibilities: CFO would oversee all financial operations, accounting and taxation matters of the Corporation.

(iii) Remuneration: The Chief Financial Officer will receive, subject to tax, a consolidated monthly remuneration of `4,00,000/- (Rupees Four Lakh only) during first year, on cost to company basis. The CFO will be eligible for an annual raise of 5% of the gross amount, subject to review of the performance.

(iv) Leave Facility:

a) He/ She will be entitled for Casual Leave on pro-rata basis at the rate of 30 days per calendar year, and

b) Any absence beyond the above period will be treated as leave without pay.

(v) Travelling and Halting Allowance: TA/HA in respect of official journeys performed would be as admissible to Grade ‘F’ officers of the Bank.

(vi) Telephone Facilities: The CFO will be entitled to reimbursement of residential telephone facility upto 42,000 calls per annum as also cellular phone facility as available to Grade ‘F’ officers of the Bank.

(vii) Residential Accommodation: Bank/Corporation will not provide any residential accommodation to the CFO.

(viii) Medical Facilities: The CFO will be entitled to RBI dispensary facilities as available to the Grade ‘F’ officers of the Bank.

(ix) Superannuation Benefits: Services rendered by the CFO during the period of contract appointment will not entitle him/her for any superannuation benefits viz. Provident Fund, Pension, Gratuity etc.

(x) Conduct, Discipline and Appeal: During the period of his/her contract, he/she shall be governed by the provisions contained in Chapter IV of Reserve Bank of India (Staff) Regulations, 1948 till such time that the rules regarding Code of Conduct for contract appointees in the Bank/DICGC are framed.

(xi) The CFO would be a contract appointee of DICGC. The selected candidate will be required to enter into bipartite contract with DICGC as per the terms and conditions of appointment.

(xii) Place of Posting: The position/ place of posting of CFO will ordinarily be in Mumbai. But corporation reserves the right to post the CFO to any other centre, if required.

4. Selection Procedure: Selection will be through interview only. The Board will make a preliminary screening of the applications for making, if necessary, a short-list of eligible candidates to be called for the interview. Hence, merely fulfilling the minimum requirements laid down for the post would not automatically entitle any candidate for interview. The place and date of interview will be advised to the short-listed candidates in due course.

5. How to apply:

(i) The candidates applying for the post must submit their application by post to “The General Manager, Reserve Bank of India Services Board, IIIrd Floor, RBI Building, Opp. Mumbai Central Railway Station, Byculla, Mumbai - 400008” in the prescribed format (as given below in this advertisement).

(ii) The recent photograph is to be pasted at the appropriate place and application should be signed by the candidate. Incomplete and illegible applications will be rejected.

(iii) The cover containing the application should be super scribed with the name of the post applied for i.e. ‘APPLICATION FOR THE POST OF CFO IN DICGC ON CONTRACT BASIS’.

(iv) The following documents should be submitted along with the application:

a. Proof of age (copy of passing Secondary/High School/10th standard Certificate or Higher Secondary School /12th Standard Certificate mentioning the (DoB).

b. Copy of Certificate of qualifying in the Final Examination of Chartered Accountant Course from the Institute of Chartered Accounts of India (ICAI). In case the candidate has passed the CA course from abroad, he/she must attach a copy of membership of ICAI along with this certificate.

c. Appropriate document(s) in support of required experience.

d. The candidates belonging to SC/ST/OBC/PWD category should enclose copy of recent relevant caste/disability certificate.

6. General rules/ Instructions:

(i) Application format is given at the end. Candidate should apply strictly in conformity with the format as prescribed.

(ii) Candidates should enclose copies of the relevant certificate/s (in support of age, caste, educational qualification) and appropriate documents supporting the required experience with the application. Their candidature will be considered on the strength of the information declared in the application and the copies of certificates/ documents submitted therewith. If at any stage it is found that any information furnished in the application is false/incorrect or if according to the Board, the candidate does not satisfy the eligibility criteria, his/her candidature/appointment is liable to be cancelled/terminated.

(iii) Candidates called for interview, will be reimbursed to and fro actual First Class or II AC railway fare by the shortest route from the place of their residence/place of work to the place of interview whichever is nearer.

(iv) Canvassing in any form will be a disqualification.

(v) In all matters regarding eligibility, conduct of interviews, assessment, prescribing minimum qualifying standards in interview, in relation to number of vacancies and communication of result, the Board’s decision shall be final and binding on the candidates and no correspondence shall be entertained in this regard.

(vi) Any resultant dispute arising out of this advertisement shall be subject to the sole jurisdiction of the Courts situated at Mumbai only.

(vii) Candidates already in service of Govt./Quasi-Govt. organisations and Public Sector Banks/Undertakings will have to produce discharge certificate from the employer at the time of appointment in DICGC.

7. CLOSING DATE: The application, enclosing all prescribed documents should reach the Board’s Office on or before 6.00 P.M. on February 10, 2014. The Board takes no responsibility for any delay in receipt of Application/s or loss thereof in postal transit.

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