Director (Finance)

Rural Electrification Corporation Limited (RECL) was incorporated under the Indian Companies Act, 1956 with the objective of financing rural electrification schemes in the country. The mandate of the corporation has been subsequently expanded to include financing of projects across power sector including generation, transmission, distribution, and related areas. The company has a wholly owned subsidiary company, namely, REC Power Distribution Company Limited (RECPDCL). The corporation was declared a public financial institution in 1992. It also promotes and finances viable decentralized power system organization in cooperatives, joint private sector, panchayat and/ or local bodies, local self- bodies. REC is a Schedule- ‘A’/ Maharatna CPSE under the administrative jurisdiction of Ministry of Power. The company employed 513 regular employees (Executives:485 and Non-excecutives: 28) as on 31.03.2024. The authorized and paid up capital of the Company was Rs. 5000 crores and Rs. 2633.22 crores respectively as on 31.03.2024. Its Registered and Corporate offices are at New Delhi and Gurgaon. REC Limited is a subsidiary of Power Finance Corporation Limited.

I.   JOB DESCRIPTION AND RESPONSIBILITIES:-

Director (Finance) is a member of the Board of Directors and reports to Chairman and Managing Director. He/ She is overall in charge of the finance and accounts of the organization and is responsible for evolving and formulating policies related to finance and accounts as well as implementation thereof.

ELIGIBILITY:-

• 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.

 

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 Group ‘A’ Officers including the Armed Forces of the Union and All India Services and officers from Public Sector Banks/ Financial Institutions/ Autonomous Bodies, etc;
• State Public Sector Enterprise (SPSE) where the annual turnover is *Rs.10000 crore or more;
• Private Sector in company where the annual turnover is *Rs.10000 crore or more. Preference would be given to candidates from listed (* 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)

QUALIFICATION:-

• The applicant should be a Chartered Accountant or Cost Accountant or a full time MBA/ PGDM course with specialization in Finance 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 /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.

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

PAY SCALE:

(a) Central Public Sector Enterprises-

Eligible Scale of Pay

• 7250-8250 (IDA) Pre 01/01/1992
• 9500-11500 (IDA) Post 01/01/1992
• 20,500-26,500 (IDA) Post 01/01/1997
• 51300-73000 (IDA) Post 01/01/2007
• 120000-280000 (IDA) Post 01.01.2017
• 18400-22400 (CDA) Pre-revised Post 01.01.1996
• 37400-67000 + GP 10000 (CDA) Post 01/01/2006
• 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.

(b)

• Group ‘A’ officers of the Central Government including All India Services (AIS) and Autonomous Bodies etc. should be holding a post of the level of Joint Secretary in Govt. of India or carrying equivalent scale of pay on substantive basis on the date of application.
• Applicants from Public Sector Bank/ Financial Institutions should be holding at Board level or at least a post of the level immediately below the Board level for one year 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.

(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 on the date of application.

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 and officers from Public Sector Banks/ Financial Institutions/ Autonomous Bodies etc., will be eligible for consideration only on immediate absorption basis.

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.

SUBMISSION OF APPLICATIONS

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

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

• • Group ‘A’ Central Government Officers, including those of the Armed Forces of the Union and All India Services; through Cadre Controlling authority.
  • Officers from Public Sector Banks/ Financial Institutions/ Autonomous Bodies, etc: through their Administrative Ministry/ Department of the Govt. of India.
  • 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.

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.

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.

For candidates from Central Government including the Armed Forces of the Union and All India Services and officers from Public Sector Banks/Financial Institutions/ Autonomous Bodies etc:

• 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.

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.

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.

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

THE APPLICANTS CAN EITHER

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

Total timeline for receipt of applications in PESB is 30 days from the date of publication of advertisement in leading National Dailies. Last date for submission of applications by the applicants is by 03:00 PM on 30.05.2025. Last date for nodal officers to forward applications to PESB is by 05:00 PM on 09.06.2025 . No application shall be entertained under any circumstances after the stipulated date. Incomplete applications and applications received after the stipulated date shall be REJECTED.

Board reserves the right to shortlist applicants for interview, keeping in view the extant guidelines issued from time to time.

• Applications are to be addressed to

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 ADDRESSED TO SECRETARY, PUBLIC ENTERPRISES SELECTION BOARD ONLY