SBI CFO to get annual package of Rs 1 crore, three times more than Chairman’s CTC

New Delhi: The country’s largest lender State Bank of India (SBI) has invited applications from candidates for the post of Chief Financial Officer (CFO) offering upto Rs 1 crore annual package, three times more than that of the chairman.

The recruitment notice said that the the position is for a contract period of three years and the annual CTC (cost to company) and perks would be Rs 75 lakh to Rs 1 crore.

“Minimum 15 years’ post qualification work experience (as on 01.04.2020) 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 bank or financial institutions (of which five years should be at senior management level),” it said.

The SBI chairman Rajnish Kumar was Rs 29.5 lakh in 2018-19, an SBI annual report had said.

The role and responsibility of the CFO in matters of Tax compliance will include optimization of tax liability of the bank and GST and TDS compliance, SBI said.

Maintaining close coordination with Financial Control Department for review of performance of the Circles and of the Whole Bank and other related functions will also be one of the core functions of the CFO.

SBI said that the CFO will have to develop and maintain a business continuity plan for situation which could bring finance functions to standstill such as COVID 19 pandemic.

SBI has invited applications from eligible candidates for the post of Data Protection Officer. The bank has not specified the salary but said the CTC is not a limiting factor for a suitable candidate.