RBI WANTS BANKS TO APPOINT CFOs & CTOs

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Indian Banking scenario has been changing very fast in view of the required technicalities and advisory services, Reserve Bank of India has strongly recommended the Banks to appoint Chief Financial Officers (CFO) and Chief Technology Officers (CTO).

RBI has laid down norms for the minimum qualification for both the Financial Officers and Technology Officers. CFOs & CTOs shall have to play very important role in this innovative scenario to protect from the risks of all kinds.

For the post of CFO, the candidate should be a Chartered Accountant with a rich experience of 15 years in the field of Banking, overseas operation, accounting, and taxation etc in the field of banking. A person having minimum of 5 years in a senior management position in Banking shall have an edge over the other candidates

RBI wants a CTO in a Bank to be a qualified Engineering Graduate or should have MCA (Master of Computer Applications) decree with a minimum of 15 years of experience in the field of IT sector of Banking projects and financial services. The candidate should have rich experience in the field of IT planning, development, networking in financial sector with its application, cyber security technology and payment technology. A person having minimum of 5 years in a senior management position in Banking shall have an edge over the other candidates.

Reserve Bank has urged the Banks to appoint CFOs and CTOs in line with the above guidelines.

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