All Scheduled Commercial Banks
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.
Chief General Manager
Encl: As above
(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