Director (Finance)

I.  COMPANY PROFILE:-

Power Grid Corporation of India Limited (POWERGRID) was incorporated under the India Companies Act. 1956 with the mission of “Establishment and Operation of Regional and National Power Grids to facilitate transfer of electric power within and across the regions with reliability, security and economy on sound commercial principles”. POWERGRID is a Maharatna CPSE under the administrative control of Ministry of Power.

The company employed 8766 regular employees(Executives: 4434, Non-executives: 4332) as on 31/03/2021.

Its Registered office is at New Delhi and Corporate Office at Gurgaon, Haryana.

The authorised and paid up capital of the Corporation was Rs. 10,000 crores and Rs. 5231.59 crores respectively as on 31/03/2021.

The Shareholding of the Government of India is 51.34% as on 31/03/2021.

II.  JOB DESCRIPTION AND RESPONSIBILITIES:-

Director (Finance) is a member of Board of Directors and reports to the Chairman and Managing Director. He/She is the overall in-charge of Finance and Accounts functions of the organization and is responsible for evolving and formulating related policies and their implementation including Financial Planning, budgeting, costing, financial control, preparation of financial statements in compliance with corporate norms and statutory requirements.

III.  ELIGIBILITY:-

  1.   AGE : On the date of occurrence of vacancy (DOV)

Age of superannuation 60 years
Internal		Others
Minimum	Maximum	Minimum	Maximum
45	2 years residual service as on the date of vacancy w.r.t. the date of superannuation.	45	3 years residual service as on the date of vacancy w.r.t. the date of superannuation.

2.   EMPLOYMENT STATUS:-

The applicant must, on the date of application, as well as on the date of interview, be employed in a regular capacity – and not in a contractual/ad-hoc capacity – in one of the followings:-

• Central Public Sector Enterprise (CPSE) (including a full-time functional Director in the Board of a CPSE);
• Central Government including the Armed Forces of the Union and All India Services;
• State Public Sector Enterprise (SPSE) where the annual turnover is *Rs 5000 crore or more;
• Private Sector in company where the annual turnover is *Rs 5000 crore or more. Preference would be given to candidates from listed Companies.

(* The average audited annual turnover of three financial years preceding the calendar year in which the post is advertised shall be considered for applying the approved limits)

3.   QUALIFICATION:-

• The applicant should be a Chartered Accountant or Cost Accountant or a full time MBA/PGDM course with finance specialization with good academic record from a recognized University/Institution. Preference would be given to Chartered Accountant.
• Officers of Organized Group ‘A’ Accounts Services [i.e. Indian Audit and Accounts Service, Indian Defence Accounts Service, Indian Railway Accounts Service, Indian Civil Accounts Service, Indian P&T Accounts & Finance Service and Indian Cost Accounts Service] working in the appropriate level are exempted from these educational qualifications.
• Further, applicants from the Central Govt./Armed Forces of the Union/All India Services, will also be exempted from the educational qualifications as per (i) above provided the applicants have ‘the relevant experience’ as mentioned in Para 4(iii) below.

In respect of applicants from Organized Group ‘A’ Accounts Services/Central Government/Armed Forces of the Union/All India Services, Chartered Accountant/Cost Accountant/MBA/PGDM will be a desirable educational qualification.

4.   EXPERIENCE:-

• The applicant should have at least five years of cumulative experience at a senior level during the last ten years in the area of Corporate Financial Management/ Corporate Accounts in an organization of repute.
• Applicants from Organized Group ‘A’ Accounts Services should have at least five years cumulative experience at a senior level during the last ten years in the area of Corporate Financial Management/ Corporate Accounts.
• ‘The relevant experience’ in respect of applicants from Central Government/Armed Forces of the Union/All India Services would include at least seven years of cumulative experience at a senior level during the last ten years in the area of Corporate Financial Management/ Corporate Accounts.

5.  PAY SCALE:-

• Central Public Sector Enterprises-

Eligible Scale of Pay

(i)   Rs. 7250-8250 (IDA) Pre 01/01/1992

(ii)   Rs. 9500-11500 (IDA) Post 01/01/1992

(iii)   Rs. 20500-26500 (IDA) Post 01/01/1997

(iv)   Rs. 51300-73000 (IDA) Post 01/01/2007

(v)   Rs. 120000-280000 (IDA) Post 01.01.2017

(vi)   Rs. 18400-22400 (CDA) Pre-revised post 01.01.1996

(vii)   Rs. 37400-67000 + GP 10000 (CDA) post 01.01.2006

(viii)   Rs. 144200-218200 (Level 14) CDA post 01.01.2016

The minimum length of service required in the eligible scale will be one year for internal candidates, and two years for others as on the date of vacancy.

• • Applicants from Central Government / All India Services should be holding a post of the level of Joint Secretary in Government of India or carrying equivalent scale of pay on the date of application.
  • Applicants from the Armed forces of the Union should be holding a post of the level of Major General in the Army or equivalent rank in Navy/Air Force on the date of application.

Applicants from State Public Sector Enterprises/ Private Sector should be working at Board level position or at least a post of the level immediately below the Board level. on the date of application.

6.   CONDITION OF IMMEDIATE ABSORPTION FOR CENTRAL GOVERNMENT OFFICERS Central Government Officers, including those of the Armed Forces of the Union and the All India Services, will be eligible for consideration only on immediate absorption basis.

IV.  DURATION OF APPOINTMENT:-

The appointment shall be for a period of five years from the date of joining or upto the date of superannuation or until further orders, whichever is earlier.

V.  SUBMISSION OF APPLICATIONS:-

Applicants should submit their applications on-line only as per the format.

1. 1. The applicants should submit their applications through proper channel as follows:

• Government Officers, including those of the Armed Forces of the Union and All India Services: through Cadre Controlling authority;
• CMDs/MDs/Functional Directors in CPSE: through the concerned Administrative Ministry;
• Below Board level in CPSE: through the concerned CPSE;
• CMDs/MDs/Functional Directors in State PSE: through the concerned Administrative Secretary and Cadre Controlling Authority, if any, of the State Government;
• Below Board level in SPSE: through the concerned SPSE;
• Private Sector: directly to the PESB.
  2. Applicants from Private Sector must submit the following documents along with the application form:
• Annual Reports of the Company in which currently working for the 3 financial years preceding the calendar year in which the post is advertised (please provide URL or attach/enclose copies);
• Whether the company is listed or not; if yes, the documentary proof (please provide URL or attach/enclose copies);
• Evidence of working at Board level or at least a post of the level immediately below the Board level;
• Self-attested copies of documents in support of age and qualifications;
• Relevant Jobs handled in the past with details.

VI.  UNDERTAKING BY THE APPLICANT:-

An applicant has to give an undertaking as a part of the application that he/she will join the post, if selected. If an applicant does not give such undertaking, the application would be rejected.

1.    For candidates from Central Government/Armed Forces of the Union/ All India Services:-

• The appointment is on immediate absorption basis.
• If a candidate conveys his/her unwillingness to join after the interview is held, he/she would be debarred for a period of two years from the date of interview, for being considered for a Board level post in any CPSE.
• Further, if a candidate conveys his/her unwillingness to join after the issue of offer of appointment, he/she would be debarred for a period of two years from the date of offer of appointment for being considered for a Board level post in any CPSE.

2.   For candidates from CPSE:-

• If a candidate conveys his/her unwillingness to join after the interview is held, he/she would be debarred for a period of two years from the date of interview, for being considered for a Board level post in any CPSE other than the one to which the candidate belongs.
• Further, if a candidate conveys his/her unwillingness to join after the issue of offer of appointment, he/she would be debarred for a period of two years from the date of offer of appointment for being considered for a Board level post in any CPSE other than the one to which the candidate belongs.

3.   For candidates from SPSE/ Private Sector:-

• If a candidate conveys his/her unwillingness to join after the interview is held, he/she would be debarred for a period of two years from the date of interview, for being considered for a Board level post in any CPSE.
• Further, if a candidate conveys his/her unwillingness to join after the issue of offer of appointment, he/she would be debarred for a period of two years from the date of offer of appointment for being considered for a Board level post in any CPSE.

4.   In the above cases, no request for relaxation or otherwise would be entertained.

VII.  THE APPLICANTS CAN EITHER:-

• fill up the Application Form online only against this Job Description on the website of PESB – http://pesb.gov.in/ and thereafter forward it online, as specified in para V(1);

Or

• fill up the Application Form online only against this Job Description on the website of PESB – http://pesb.gov.in/, take a printout and send it offline, as specified in para V(1).

Last time/date of receipt of complete application duly forwarded to PESB is by 15.00 hours on 11/01/2022. No application shall be entertained under any circumstances after the stipulated time/date. Incomplete applications and applications received after the stipulated time/date shall be REJECTED. Board reserves the right to shortlist applicants for interview.

Applications are to be addressed to

Smt Kimbuong Kipgen

Secretary,

Public Enterprises Selection Board, Public Enterprises Bhawan,

BlockNo. 14, CGO Complex, Lodhi Road, New Delhi-110003.

ALL CORRESPONDENCE WITH THE PUBLIC ENTERPRISES SELECTION BOARD SHOULD BE ADDRESSEDTO SECRETARY, PUBLIC ENTERPRISES SELECTION BOARD ONLY.