RBI/2016-17/304 DBR.Appt.No.BC.68/29.67.001/2016-17 May 18, 2017 All Scheduled Commercial Banks (excluding RRBs) Madam/ Dear Sir, Minimum qualifications and experience for CFO and CTO Rapid
innovations in banking and technology call for better risk governance
in the areas of finance and technology. A Chief Financial Officer (CFO)
and Chief Technology Officer (CTO) in banks’ management structure would
play a crucial role in strengthening and sustaining the banks’ risk
governance framework. 2. It is, therefore, advised that banks,
while inviting applications for these positions, stipulate, at a
minimum, the qualifications and experience for the CFO and CTO as
detailed in Annex.
Banks may, however, prescribe additional qualifications and experience
as they deem fit, taking into account the risk profile, size and scale
of operations. Yours faithfully, (Saurav Sinha) Chief General Manager Encl: As above Annex (i) Chief Financial Officer Minimum Qualification: He/she should be a qualified Chartered Accountant. Experience:
Fifteen years in overseeing financial operations, preferably accounting
and taxation matters, in banks/large corporates/PSUs/ FIs/financial
services organizations, of which 10 years should be in Banks/FIs (of
which five years should be at senior management level). (ii) Chief Technology Officer Minimum Qualification: Engineering Graduate or MCA or equivalent qualification from a recognized University / Institution. Experience:
15 years of experience in relevant areas is mandatory. He/she should
have worked in Banking-IT related areas/projects involving IT Policy and
Planning/ Financial Networks and Applications/ Financial Information
Systems/ Cyber Security Technologies/ Payment Technologies, etc., of
which five years should be at senior management level. |