Recruitment for the Post of Director in Public Enterprises Selection Board

Public Enterprises Selection Board

No. : 7/27/2018-PESB

: Indian Oil Corporation Ltd. : Director (Finance) : 01/02/2019 : Schedule A : Rs. 180000-340000 (IDA) (w.e.f. 01-01-2017)

I. COMPANY PROFILE

Indian Oil Corporation Limited (IOCL) was incorporated in 1964 by merging Indian Refineries Limited with Indian Oil Company under the Indian Companies Act, 1956. The main objectives of IOC are to serve the national interests in oil and related sectors in accordance and consistent with the policies of Government of India; to ensure continuous and smooth supplies of petroleum products and to enhance country's self-sufficiency in oil refining and build expertise in laying of crude oil and petroleum product pipelines. Indian Oil Corporation (IOC) is a schedule - 'A' Maharatna PSE in petroleum sector with the administrative jurisdiction of Ministry of Petroleum & Natural Gas. The company employed 33157 regular employees( Executive 17123, Non-executive16034 ) as on 31.03.2018. Its Registered and Corporate Offices are at Mumbai and New Delhi respectively. The authorised and paid up capital of the Company were Rs. 15000 crore and Rs. 9711.81 crores respectively as on 31.03.2018. The shareholding of the Government of India in the company is 56.98%.

II. JOB DESCRIPTION AND RESPONSIBILITIES

Director (Finance) is a member on Board of Directors and reports to Chairman and Managing Director. He is overall incharge of finance, accounts and funds management of the organization and is responsible for evolving and formulating policies relating to finance and accounts as well as implementation thereof.

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 of residual service as on the date of vacancy w.r.t. the date of superannuation. 45 3 years of 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:

(a)
Central Public Sector Enterprise (CPSE) (including a full-time functionalDirector in the Board of a CPSE);
(b)
Central Government including the Armed Forces of the Union and All India Services;
(c)
State Public Sector Enterprise (SPSE) where the annual turnover is *Rs 10000 crore or more;
(d)
Private Sector in company where the annual turnover is *Rs 10000 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:
(i)
The applicant should be a Chartered Accountant or Cost Accountant or a full time MBA/PGDM course with good academic record from a recognized University/Institution.
(ii)
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.

(iii)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:
(i)
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 and Accounts in an organization of repute.
(ii)
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/Accounts.

(iii)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/Accounts.

5. PAY SCALE/ RANK/ LEVEL: The minimum length of service required in the eligible scale/rank/level will be one year for internal candidates, and two years for others as on the date of vacancy.

(a) Applicants from CPSEs should be working in the following or a higher pay scale:

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

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

(viii) Rs. Level 14 (144200-218200)

(b)

(i)
Applicants from Central Govt. / All India Services should be holding a post of the level of Joint Secretary in Govt. of India or carrying equivalent scale of pay.
(ii)
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.

(c)

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.

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 superannaution or until further orders, whichever is earlier.

V. SUBMISSION OF APPLICATIONS

All applicants should send their applications as per the format .

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

(a)
Government Officers, including those of the Armed Forces of the Union and All India Services: through Cadre Controlling authority;
(b)
CMDs/MDs/Functional Directors in CPSE: through the concerned Administrative Ministry;
(c)
Below Board level in CPSE: through the concerned CPSE;
(d)
CMDs/MDs/Functional Directors in State PSE: through the concerned Administrative Secretary and Cadre Controlling Authority, if any, of the State Government;
(e)
Below Board level in SPSE: through the concerned SPSE.
(f)
Private Sector: directly to the PESB.

2. Applicants from Private Sector must submit the following documents along with the application form:

(a)
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);
(b)
Whether the company is listed or not; if yes, the documentary proof (please provide URL or attach/enclose copies);
(c)
Evidence of working at Board level or at least a post of the level immediately below the Board level;
(d)
Self-attested copies of documents in support of age and qualifications;
(e)
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

(a)
The appointment is on immediate absorption basis.
(b)
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.
(c)
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

a.
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.
b.
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
a.
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.
b.
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

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

Or

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

Note : Those candidates who have already applied against the PESBs vacancy circular dated 12.06.2018 for the post, need not apply again.

Last time/date of receipt of complete application duly forwarded to PESB is by 15.00 hours on 04/02/2019. 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, Block No. 14, CGO Complex, Lodhi Road, New Delhi-110003.

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



Important Dates

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Notification Issued
Applications 04-Feb-2019
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  • Organization : Public Enterprises Selection Board
  • Organization City, State : , central government
  • Organization Website : http://pesb.gov.in
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