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Date : Sep 02, 2019
Recruitment of Chief Executive Officer (CEO) for Indian Financial Technology and Allied Services (IFTAS)

1. The Institute - www.iftas.in

Indian Financial Technology and Allied Services (IFTAS), a wholly owned subsidiary of Reserve Bank of India is registered under the Companies Act, 2013. IFTAS provides critical infrastructure services to RBI, banks, cooperative societies and other financial institutions. The services provided are:

  • Indian Financial Network (INFINET), a closed user group MPLS network for banking and financial sector.

  • Structured Financial Messaging System (SFMS), a messaging system facilitating RTGS, NEFT, Government payments and receipts, etc.

  • Indian Banking Community Cloud (IBCC), providing CBS and other software applications such as SFMS, mobile banking, etc. as web service/s.

  • Global Interchange for Financial Transactions (GIFT), an integrated payment & settlement system based on open source technology stack.

2. Job Profile

  • The Chief Executive Officer (CEO), should be a team player, change agent, innovator, and adept in identifying transferrable skills. He/she should be able to provide efficient and effective governance structure, ensure accountability and process efficiencies.

  • He/she will ensure delivery and management of the existing infrastructure and services, as well as facilitate development of innovative products in network and payment system arena through internal team and/or external service providers.

  • He/she will enable innovation and seek to leverage emerging technologies to create business value consistent with expectations of the banking/financial sector and RBI.

3. Eligibility

(i) Educational Qualification: The candidate should possess an engineering degree (B.Tech./B.E.) in lnformation Technology related subjects such as Computer Science / Communication, etc.; or a Post Graduate degree in IT related subjects such as Computer Science/Applications; or a Bachelor's degree in Computer Science/Applications followed by a Post Graduate degree in Management. All degrees should be from a recognized educational institute.

(ii) Experience: A minimum of 15 years of relevant experience in mainstream IT/BFSI Sector, which should include at least five years in a CXO level leadership role. The candidate must indicate the details of experience in the specified format. The experience should delineate the knowledge of development, implementation and management of information technology related infrastructure and projects.

The Search Committee, constituted by RBI for the purpose, may recommend relaxation in the eligibility and qualifications/experience criteria in respect of outstanding candidates.

4. Term

The appointment of CEO is a contractual appointment with initial term of three years, beginning from the date of taking charge and extendable by mutual agreement, subject to the normal age of superannuation of 60 years. The contract can be terminated by giving three months’ notice by either side.

5. Compensation and Posting

Compensation will match the best level in the industry and will not be a constraint for the right candidate. The place of posting will be Mumbai.

6. How to apply

Interested candidates may apply by sending email, giving all details, in softcopy in the application format given below, followed by hardcopy in closed cover super scribed “Application for the post of CEO, IFTAS”, to reach the following address.

The Chief General Manager-In-Charge,
Department of Information Technology, Reserve Bank of India
Central Office, 14th Floor, Shahid Bhagat Singh Marg, Fort, Mumbai – 400001.

Only those applications filled in its entirety in prescribed format and soft copy of which is received not later than 23.59 Hrs. on September 24, 2019 will be considered.

7. General rules/instructions

i) Applicant should strictly conform to the format of the application as prescribed here; Applications should not be handwritten except for the signatures; All pages to be signed by the applicant. “Arial font, size 12” should be used all through the document.

ii) Self-attested copies of the appropriate documents should be submitted along with the application that will:

  1. Provide proof of age.

  2. Clearly demonstrate the eligibility of experience. (Illustratively, this could include: Experience Certificates from the past and current employers, appointment letters, pay or salary slips to verify the date of joining and relieving, designation at the time of joining, date of promotion with designation, if any)

  3. Provide proof of educational / professional qualifications and certifications

iii) Candidature will be considered on the strength of the information declared in the application and the copies of certificates/ documents submitted therewith.

iv) A recent photograph is to be affixed at the appropriate place and signed across.

v) Processing of applications received from eligible applicants presently in service of Govt./Quasi-Govt/Public Sector/Parastatals will be considered, if applications are accompanied by a letter from the current employer containing the following:

  1. Commitment that if the applicant is recommended for appointment as CEO, IFTAS, a discharge certificate from the employer will be made available.

  2. Vigilance clearance certificate that no proceedings are either pending or contemplated against the officer concerned.

  3. List of all the major / minor penalties imposed on the candidate or, otherwise, a certificate confirming that no penalty has been imposed on the officer during service.

vi) Applications which meet the eligibility criteria will be further subjected to shortlisting based on the criteria established by the Search Committee constituted by RBI for the purpose.

vii) Shortlisted applicants will appear for interactions with the Search Committee on prescribed date after a communication through the email provided in application form.

viii) Based on the interactions, the Search Committee will submit its recommendation.

ix) Individual privacy concerns of the applicants will be ensured by the Bank to the extent possible.