Bank of Maharashtra 2021 Jobs Recruitment Notification of CRO Posts


Bank of Maharashtra 2021 Jobs Recruitment Notification. Bank of Maharashtra inviting applications for the positions of Chief Risk Officer . Interested and Eligible candidates can apply for the positions.

Last Date for Submission of Application is on 17th June, 2021.

No.of Posts and Vacancies :-

Chief Risk Officer - 01 Post

Job Location - Pune

Education Qualification :

Bank Of Maharashtra, leading listed Public Sector Bank with Head Office in Pune and more than 1900 network of branches invites offline application from candidates for engagement of Chief Risk Officer on Contract Basis for the fixed period of three years, extendable by one year at a time subject to maximum term of 5 years shall be posted at Head Office, Pune or any other office as per Bank’s requirement

1. Post :- Chief Risk Officer on a fixed contractual term of three years and extendable by one year at a time, subject to maximum term of five years.

2. No. of Post :- 01 (One only)

3. Qualification :- Mandatory Qualification: Graduate Degree, with -

(a) Professional certification in Financial Risk Management from Global Association of Risk Professionals or

(b) Professional Risk Management Certification from PRMLA Institute;

4. Desirable Qualification: 

a) Holder of Chartered Financial Analyst Charter awarded by CFA Institute, OR

b) Designated as Chartered Accountant by the Institute of Chartered Accountants of India, or equivalent abroad, OR

c) Designated as a Cost and Management Accountant by the Institute of Cost Accountants of India, or equivalent abroad

5. Mandatory Experience: - Five years’ experience in Corporate Credit and Risk Management at the level of Assistant General Manager or above in one or more PSBs, or having similar roles and responsibilities in one or more regulated lending entity, with minimum experience of one year in corporate credit and one year in risk management

6. Desirable Experience: - Good understanding of market risk and/or liquidity management and / or operational risk, with exposure to analytics being an added desirable experience.

7. Compensation / Remuneration :- Remuneration / Pay Compensation will be market linked and will not be a limited factor for a suitable candidate and can be negotiated. Other terms and Conditions of engagement will be depending upon the suitability of the candidate.

8. Duration of Contract:

a. The candidate shall be appointed on contract basis for a fixed period of 3 years, extendable by one year at a time, subject to a maximum term of 5 years

b. The performance of the selected candidate shall be reviewed by Managing Director & CEO / Executive Director of the Bank every year.

c. The Bank will be entitled to terminate the contract at any time without assigning any reason whatsoever, by giving 30 days’ notice or on payment of fixed Component Compensation equivalent to one Month's fixed component of the compensation in lieu of such Notice.

d. In case the appointee desires to terminate the contract before the expiry of the contractual period of three years, he / she will have to give to the Bank clear one month's notice or make payment of one Month's fixed component of the compensation in lieu of such Notice.

9. Perks :- The selected candidate will also be eligible for the perquisites / Quarter facility (in lieu of HRA) as applicable to the post of General Manager

10. Placing of Posting :- The position / place of posting of candidate will ordinarily be at Head Office, Pune. However, the Bank reserves right to post the selected candidate as per bank’s requirement

11. Reporting Authority :- The CRO will directly report to Managing Director & CEO / Executive Director / Risk Management Committee of the Board.

12. Job Profile:

i. Focus on creating, designing and implementing a risk function that supports the strategic goals of the Bank. Setting the vision and strategy of the Enterprise Risk function working in conjunction with Top Management/Zonal Heads of the Bank.

ii. Developing, managing and refining qualitative and quantitative risk reporting which meets the needs of the Credit Risk Management Committee, Operational Risk Management Committee, Market Risk Management Committee, Asset Liability Committee, Risk Management Committee and Board of Directors in order to support effective decision making.

iii. Build a robust risk management framework and architecture for the Bank bringing together a number of teams (operational risk, credit risk, interest rate risk, market risk, stress testing, modeling and analytics) and managing the enterprise wide risk.

iv. Developing risk maps and formulating strategic action plans to help minimize, manage, and mitigate primary risks and then monitor the progress of these efforts. Creating and disseminating risk analysis reports and progress reports to different stakeholders, including employees, board members. Ensuring that risk management priorities are reflected in the company's strategic plans

v. Responsible for overall supervision of Risk Management function of the Bank. Overseeing the functioning of each of the Risk Management Division. Ensuring continuous improvement in the Risk Management Practices/policies of the Bank.

13. AX1/ ST/RP/CRO/NOTIFICATION-III/2021-22 Date: - 14.05.2021


Minimum 40 years and maximum 60 years.

Application Fee:

All candidates: Application Fee + Intimation Charge: 1,000.00, GST: 180.00, Total: 1,180.00

Documents Required:

Documents to be enclosed with application forms.

1) A recent recognizable passport size colour photograph should be firmly pasted on the application, signed across by the candidates and be forwarded.

2) Self-attested photocopy of documents / mark-sheets & certificates having your Date of Birth mentioned therein – documents like PAN Card, Driving License, Passport, Birth Certificate, School Leaving Certificate, SSC / HSC Mark-sheet or certificate wherein Date of Birth is mentioned etc. 

3) Discharge Book/NOC issued by the competent authority. 

4) Attested copies of certificates / mark sheets and testimonials in proof of Educational Qualification from SSC/SSLC/X STD, PUC/10+2/Intermediate, Graduation, Post-Graduation and Professional Qualification. Professional certification in Financial Risk Management from Global Association of Risk Professionals, or Professional Risk Management Certification from PRMIA Institute; 

5) Experience certificate(s) stating designation / job profile, period of service (with specific dates), emoluments, activity profile of previous and present employers, etc. 

6) Attested copy of community /status certificate in the prescribed format in case of candidates belonging to SC/ST/OBC/PH/ Ex- Serviceman category issued by competent authority. Any other relevant documents.

General Information:

01. Before applying, candidates are requested to ensure that they fulfill the eligibility criteria for the post as on the date of eligibility. Candidates are advised to check Bank’s website regularly for details and updates. No separate intimation / advertisement etc. will be issued in case of any change / update. The above number of vacancies are provisional and may vary according to actual requirement of the Bank, subject to availability of suitable candidates.

02. The cut-off date for Eligibility Criteria and other details: - Age, Qualification, Experience as on 31.03.2021.

03. The terms & conditions of contract are whole and simply governed by the provisions of the contract and the engagement shall not be construed as an employment in the Bank and the provisions of PF / Gratuity / Pension, etc. shall not apply in this case.

i. Engagement on contract is for a specific period as stated above, and as such should not be construed as an offer of employment or a regular employment in the Bank. Unless the Bank extends the contract for further period, on completion of the contractual period of three years, his / her engagement shall automatically come to an end. There will not be a need for issuance of communication by the Bank for termination of the contract after the above said period.

04. The date of passing eligibility examination will be the date appearing on the mark sheet or provisional certificate issued by the University/ Institute. In case the result of a particular examination is posted on the website of the University/ Institute, a certificate issued by the appropriate authority of the University/ Institute indicating the date on which the result was posted on the website will be taken as the date of passing.

05. Candidate should indicate the percentage obtained in Graduation calculated to the nearest two decimals in the application. Where CGPA/ OGPA is awarded, the same should be converted into percentage and indicated in the application. If called for interview, the candidate will have to produce a certificate issued by the appropriate authority inter alia stating the norms of the University regarding conversion of grade into percentage and the percentage of marks scored by the candidate in terms of these norms.

06. If any false / incorrect information furnished by the candidate is detected at any stage of recruitment process, he/she will be disqualified from the selection process. If the candidate knowingly or willfully furnishes incorrect or false particulars or suppresses material information, he/she will be disqualified and if appointed, shall be liable for dismissal from the Bank’s service without any notice or assigning any reasons whatsoever.

07. The decision of the Bank in all matters relating to recruitment shall be final and binding on all candidates, no individual correspondence will be entertained. Applications received after due date will not be entertained. The Bank is not responsible for any technical or other reasons or delay.

08. The Bank reserves the right to cancel the Recruitment at any stage through this Advertisement fully or partly on any grounds and such decision of the Bank will not be notified or intimated to the candidates.

09. The Bank reserves the right to change / modify the selection procedure / hold supplementary process, if necessary. The changes, if any shall be intimated to the candidates through Bank’s website / registered e-mail in advance.

10. When called for Group Discussions (GD) and / or Interview, candidates have to bring submit original of documents for verifications. Candidates will not be allowed to participate GD and / or Interview without production of the original documents.

11. The candidate called for GD/ Interview will be informed through Bank’s website / registered e-mail / SMS as per information provided by them in the application. Though bank puts maximum efforts to send the communication by e-mail/SMS, if any candidate does not receive the same due to technical or any other reasons, bank shall not be responsible for non-receipt of communication by the candidate. The candidates are advised to visit Bank’s website frequently for updates.

12. Calculation of Percentage: - The percentage marks shall be arrived at by dividing the total marks obtained by the candidate in all the subjects in all the semester(s)/ year(s) by aggregate maximum marks in all the subjects irrespective of honours/optional/ additional optional subject, if any. This will be applicable for those Universities also where Class/ Grade is decided on basis of Honours marks only. The fraction of percentage so arrived will be ignored i.e. 59.99% will be treated as less than 60%.

13. Candidates should satisfy themselves about their eligibility for the post applied for. The Bank would admit to the test all the candidates applying for the posts with the requisite fee on the basis of the information furnished in the application and shall determine their eligibility only at the time of interview.

14. Candidates are advised in their own interest to apply well before the closing date and not to wait till the last date to avoid the possibility of disconnection/ inability/ failure to log on to the website on account of heavy load on internet or website jam.

15. Bank of Maharashtra does not assume any responsibility for the candidates not being able to submit their applications within the last date on account of aforesaid reasons or for any other reason beyond the control of Bank of Maharashtra.

16. Not more than one application should be submitted by a candidate. In case of multiple applications, only the last valid (completed) application will be retained and the application fee/ intimation charges paid for the other registrations will stand forfeited. Multiple attendance/ appearance by a candidate in examination/ interview will result in summary rejection/ cancellation of candidature.

17. Candidates serving in Government/ Quasi Government Offices, Public Sector Undertakings including Nationalized Banks and Financial Institutions are advised to submit 'No Objection Certificate' from their employer at the time of interview, failing which their candidature may not be considered and travelling expenses, if any, otherwise admissible, will not be paid.

18. In case of selection, candidates will be required to produce proper discharge certificate from the employer at the time of taking up the appointment.

19. The original documents regarding eligibility criteria and proof of date of birth should be produced for verification on the date of interview. Candidate will not be allowed to attend the interview if original certificates are not produced for verification on the date of interview.

20. Candidates are advised to keep their e-mail ID alive for receiving advices till completion of process.

21. Appointment of selected candidates is subject to his/ her/ their being declared medically fit as per the requirement of the Bank.

22. No Travelling Allowance is payable to candidates who are called for interview.

23. The recruitment in Bank of Maharashtra is done strictly as per merit in a systematic way. Canvassing in any form will disqualify the candidate.

24. Any legal proceedings in respect of any matter of claim or dispute arising out of this advertisement and/ or an application in response thereto can be instituted only in Pune and Courts/ Tribunals/ Forums at Pune only shall have sole and exclusive jurisdiction to try any cause/ dispute.


General Manager Bank Of Maharashtra, H.r.m Department, Head Office, Lokmangal, 1501, Shivajinagar, Pune 411 001.

Selection Procedure :

(i) Selection will be through Group discussions and personal interview. A preliminary screening of application may be carried out by the Bank to shortlist eligible candidates with reference to candidate’s qualifications, suitability / experience etc. to be called for Group Discussion and interview. While short listing the candidates, we may consider additional qualifications, greater experience and level of responsibilities handled.

(ii) Final Selection will be on the basis of marks secured by the candidate in Group Discussions and personal interview. Total marks allotted for GD and interview are 20 & 80. In case bank decides that the final selection shall only be based on personal interview, then there shall be interview for 100 marks. Bank may change the mode of selection depending upon the number of candidates.

(iii) Thus, merely fulfilling minimum qualification and experience criteria would not automatically entitle a candidate for the interview. Bank reserves the right to change the modalities/ criteria of selection/recruitment process etc.

(iv) Mere eligibility / admission to Group Discussions / Interview / pass in GD/ interview do not imply that the Bank is satisfied beyond doubt about the candidate’s eligibility and shall not vest any right in a candidate for selection.

(v) The Bank would be free to reject the candidature of any candidate at any stage of recruitment process, if he / she is found to be ineligible and / or furnished incorrect or false information / certificates / documents or has suppressed any material facts and the fees paid by the ineligible candidates shall be forfeited. If appointed, such a candidate may be summarily removed / terminated from the services of the Bank.

How to Apply :

1) Applicants have to submit their applications in the format enclosed as annexure (a) along with self- attested documents.

2) Last date for submission of application is 17.06.2021. No application shall be entitled beyond the stipulated date.

3) All eligible and interested candidates should apply in the prescribed application format to reach the address cited below on or before 17.06.2021. Any application received after the due date will be summarily rejected.

4) Incomplete applications or not supported requisites documents will be rejected

5). Date For Submission Of Application (In Hardcopy) Starts Between 17.05.2021 And 17.06.2021.

6) Address the application, superscripting Application For The Post Of Chief Risk Officer Project 2021-22 To General Manager Bank Of Maharashtra, H.r.m Department, Head Office, Lokmangal, 1501, Shivajinagar, Pune 411 001.

7) Mode of Payment: - Application fees of Rs: 1,180.00 inclusive of GST payable by the way of Demand Draft (Nonrefundable) drawn on any Nationalized Bank in favour of “Bank of Maharashtra- Recruitment of CRO Project 2021-22” payable at Pune. No other mode of payment is acceptable.

Official Notification


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