The country’s largest lender State Bank of India (SBI) has invited applications from for the appointment of new Chief Financial Officer (CFO) on contract basis at a salary package of Rs 1 crore, three times more than its chairman’s salary.
As per the recruitment notice, 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.
As per the media reports, the salary of SBI chairman was Rs 29.5 lakh in 2018-19.
“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.
This is for the first time, the lender is recruiting the CFO from outside rather than its internal talent pool of top management. Earlier, the lender used to appoint the CFO from the lender’s senior management.
Currently, Chalasani Venkat Nageswar, a Deputy Managing Director of the bank, is holding the position of the CFO.
In the past, Anshula Kant is now the managing director and chief financial officer of the World Bank was the CFO of the bank. As MD and CFO, Kant handles the financial and risk management of the World Bank Group.
Last month, one of SBI’s deputy managing directors, Anil Kishora, was appointed as vice-president of New Development Bank.