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Government of India Ministry of Communications & Information Technology, Department of Posts, Dak Bhavan Sansad Marg, New Delhi-110116

Department of Posts has decided to set up an Investment Division in Mumbai under the Postal Life Insurance Directorate of the Department for investment of the Post Office Life Insurance Fund (POLIF) and Rural Post Office Life Insurance Fund (RPOLIF). Applications in the prescribed format from eligible candidates are invited for the newly created one ex-cadre post of Chief Investment Officer (HAG level) and four ex-cadre posts of Directors (JAG level) in the Investment Division to be initially filled on deputation/contract basis from Public Sector Banks/Financial Institutions subject to the condition that the arrangement will be purely on adhoc basis for a period of one year or till regular arrangements are made based on the recruitment rules to be framed. Applications in the prescribed format (Annex. B) alongwith copies of all testimonials/certificates should reach the office of Dy. Director General(Personnel), Department of Posts, Dak Bhawan, New Delhi within 15 days of publication of this advertisement in the Employment News. No application will be entertained after prescribed time of 15 days. This advertisement can also be viewed on the Web Site of INDIA POST http://www.indiapost.gov.in. The particulars regarding name of the post, remuneration, required qualification, job description are given in Annexure A.

Annexure ‘A’

Sl. No        

Name of posts

Number of posts

Age limit

Scale of pay

Required qualification (essential/

desirable)

Experience

Job description

1

Chief Investment Officer(HAG Level)

      One

The minimum age as on 1st July  in the year of recruit-ment should not be less than 40 years and the maximum age should not exceed 65 years.

Rs.22,400-525-24,500 + admissible allowances as per Central Govt. norms.
(Under revision)

A candidate must hold a degree of a university established or incorporated by or under a Central Act or a provincial Act or a State Act or other educational institutional established by a Central Act  or declared  to be deemed as university under Section 3 of the University Grant Act 1956 (3 of 1956) or a foreign university approved by the Central Govt. from time to time or possess-

ing  an equivalent  which has been recognized by the Government . Provided further that in exceptional cases the investment Board may treat a candidate as qualified, who though not possessing the qualification prescribed above has passed an examination conducted by an Institution, the standard of which in the opinion of the Board justifies his qualification for recruitment in the Investment Division.

A candidate  should have at least 10 years of progressive experience of Institutional Investments. He/she should have a comprehensive understanding of all aspects of investment management including the knowledge of Treasury and Debt Management. A candidate aspiring to work as CIO is to have demonstrated ability to design, develop and implement a comprehensive investment platform to include strategies and tools integrating registered investment products, and or trust services and or broker, dealer products  and services. While experience of public pension/provid- ent fund is desirable, applicant meeting minimum requirement from other industries will also be considered.  .

CIO would be responsible for taking day-today decisions on investments within the broad guidelines decided by the Investment Board and in the overall framework of IRDA

(Investment) Regulations) He/she would be responsible for the implementation of the investment policy through the Fund Managers, and determining specific investment contents within the investment strategies. His/her  basic function also includes communication/liaison with the field and he/she should be able to maintain high level of confidential-ity.  .

2.

i)Director,

Accounts & Treasury

 

ii)Director, MIS

 

iii) Director, Analyst (Debt)

 

iv) Director, Analyst (Equity)

 

(JAG LEVEL)

One

 

 

 

One

 

 

One

 

 

 

One

The minimum age  should not be less than 30 years and the maximum age should not exceed 65 years as on 1st June of  the recruit-ment year.

Rs. 12000-375-16,500

+ admissible allowances as per Central Government norms

(Under revision)

A candidate must hold a degree of a university established or incorporated by or under a Central Act or a provincial Act or a State Act or other educational institution established by a Central Act  or declared  to be deemed as university under Section 3 of the University Grant Act 1956 (3 of 1956) or a foreign university approved by the Central Govt. from time to time or possess an equivalent  which has been recognized by the Government . Provided further that in exceptional cases the investment Board may treat a candidate as qualified, who though not possessing the qualification prescribed above has passed an examination conducted by an Institution, the standard of which in the opinion of the Board justifies his qualification for recruitment in the Investment Division.

A candidate has to have at least of five years of experience either in Corporate Finance or in Treasury or in Institutional Finance. A candidate aspiring to work as Director in the investment Division should have the sound knowledge of investment, Debt Management and Equity Analysis.

The primary function of the Directors would be to assist the CIO in his/her decision making.

Note: (i) The candidates should not be currently employed as either of the Fund Managers, namely, Unit Trust of India Mutual Fund (UTI Asset Management Company) and State Bank of India Mutual Fund (SBI Funds Management Pvt. Limited) or their associates.

(ii) Only those candidates may apply who in the event of their selection can join within a period of one month from the date of issue of offer letter.

(iii) Candidate short listed on the basis of bio-data will be interviewed by the Investment Board. Investment Board will prepare a select list. Final selection will be made by the competent authority.

(iv) Decision of the Appointing Authority regarding suitability of the officer to hold the post of Chief Investment Officer and Directors will be final.