IDBI SO Salary: Pay Scale | Allowances | Job Profile | Career Growth

IDBI SO Salary 2021: IDBI SO Salary 2021 is given here!!! Along with the details of IDBI SO Salary 2021, Pay scale, Allowances, Job Profile & Promotion are given here for your reference. Candidates who have the passion to work in specialist officers cadre shall check here the details.

Govt Jobs Updates

Industrial Development Bank of India has recently announced the notification for the engagement of Specialist Officers posts. Every year a numerous vacancies have announced and recruited for various cadres. One of the most important notifications among the aspirants who are having a passion to work in a banking sector. The IDBI SO Recruitment 2021 Apply Online link is get activated on 24.12.2020. Eligible candidates shall refer to the official notification to know the prescribed eligibility criteria and recruitment process. The final date for the submisson of the online application get ends on 07.01.2021. Aspirants have to submit their online application on or before the last date.

This is a direct recruitment conducted throug out India for various locations. Mostly the specialist officers posts were notified especially for the experienced candidates. The IDBI’s 51% stake has been bought by the Life Insurance Corporation of India. So to get into the IDBI is not an easier one. You have to perform well in the selection process due the tough competition throughout India. Before applying for the IDBI SO Notification 2021 candidates have to know the in depth details of IDBI SO Salary 2021, Pay scale, Allowances, Job Profile, Promotion/ Career growth etc. For that here we have given the information for your reference. So candidates shall refer to this article fully and know the complete details.

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IDBI SO Recruitment 2021: Important Dates

Name of an Organization Industrial Development Bank of India
Recruitment Name IDBI Specialist Officers Recruitment 2021
Job Role Manager ( Grade B), Assistant Manager (Grade A), AGM (Grade C), and DGM (Grade D)
Job Location Various Locations

 

IDBI SO Salary 2021: Basic Pay

The minimum basic pay of IDBI SO Salary 2021 Grade A is Rs 23,700 excluding DA, HRA & other allowances.

IDBI SO Salary 2021: Pay Scale

Sr No Grade Pay Scale
1 Deputy General Manager, Grade ‘D’ 50030-1460(4)-55870-1650(2)-59170 (7 years)
2 Assistant General Manager, Grade ‘C’ 42020-1310(5)-48570-1460(2)-51490 (8 years)
3 Manager – Grade ‘B’ 31705-1145(1)-32850-1310(10)-45950 (12 years)
4 Assistant Manager – Grade ‘A’ 23700-980(7)-30560-1145(2)-32850-1310(7)-42020 (17 years)

IDBI SO Salary 2021: Allowances

Apart from the basic pay or Rs 23,700 included in IDBI SO Salary 2021 for Assistant Manager, Manager, AGM, DGM candidates have to be entitled with the allowances. The details are given below for your reference. In addition to the pay, the selected candidate will be eligible for allowances, perquisites and benefits as applicable to the Grade as per the Bank’s rules, prevalent at the time of joining. Further, fitment of pay for new recruits in the cadre will be governed by relevant guidelines and extant Bank’s policies.

Dearness Allowances:

The Dearness Allowance is calculated based on the Consumer Price Index (CPI) and is revamped every quarter. DA can be around 46 percent of the basic pay. But, it can alter or go up and down based on inflation.

Accomadation Allowance:

This facility is available in place of HRA. IDBI will provide the official accommodation as a leased accommodation.

Medical Aid:

This facility is available in place of HRA. IDBI will provide the official accommodation as a leased accommodation.

Travel Allowance:

IDBI provides a fixed travelling allowance.

Newspaper Reimbursement:

The bank pays a fixed amount towards the cost of one newspaper on a monthly basis.

IDBI SO Salary 2021 Job Profile: Deputy General Manager

Social/Digital Media [DGM]:

1) Experienced social media professional to represent the Bank by building a social media presence for its brand/products.

2) Ability to run advertising campaigns and drive engagement by creating high-quality original content.

3) Must possess the ability to engage influencers, manage the Bank’s social media community and oversee the customer service across all platforms.

4) Should have excellent communication and analytical skills to determine whether social media campaigns have achieved their objectives.

5) Should possess pertinent marketing experience and team management skills.

Economist [DGM]:

  • Leading a team of economists undertaking research on economic/financial issues relevant to the banking industry.
  • Ability to perform independent research and undertake research on economic/financial issues relevant to the banking industry.
  • Analysis of data using statistical techniques and software.
  • Interpret and forecast market trends and Advise the Bank on economic topics, write articles in journals and media, write technical and non-technical reports and policy briefs on economic trends and forecasts.
  • Preparing briefs for the top management of the Bank, deliver oral/visual presentations on economic issues to non-economist audiences.
  • Ability to work independently and possessing attributes such as self-confidence, general/commercial awareness, good interpersonal skills, ability to cope with pressure, analytical, IT and communication skills.

IDBI SO Salary 2021 Job Profile: Assistant General Manager

Marketing – Digital Banking Products [AGM]

1) Dealing with Techno-functional aspects of various Digital Banking Products, Product Market Mapping, Analyze trends & Supporting IT applications.

2) Managing Marketing of Digital Banking Products & Solutions, Awareness Creation activities, Handling marketing tie-ups & Aggregator on-boarding.

3) Provide Innovative Marketing solutions.

4) Benchmarking the existing product suite (Internet Banking / Mobile Banking / Cards/ Social media / Electronic remittance Products) against industry and drive product enhancements & Innovations.

5) Co-ordinate with all support functions (Technology Operations, Marketing, Finance, Compliance & Risk) to implement the Business Strategy.

Project Management [AGM]:

1. Implement a common project management methodology, standards and tools for managing projects.

2. Managing dependencies, predicting and mitigating cross-project risks and issues, and facilitates project risk assessment and management.

3. Conduct regular reviews of projects, monitor completion of tasks and ensure good performance.

4. Manage the team, ensure adequate staffing levels and supervision to maximize efficient productivity

5. Maintain compliance to the control frameworks such as the IT Risk Standards, RMP and other regulatory/ legal and other obligations /requirements.

Pure Tech / Innovation – Mix of IT & Digital Banking [AGM]:

1) Dealing with techno-functional aspects of various Digital Banking Products & Supporting IT applications.

2) Managing emerging areas of Digital Banking Such as : UPI Based Solutions, Robotics, Block Chain Applications, Artificial Intelligence, Chat / Voice Bots, On-line Lending, API Platforms / Layering, OMNI Channels Data analysis for new product features etc.

3) Managing solutions for secure online channels, Security features of the product (Network / encryption), Product Risk Assessment.

4) Co-ordinate with all support functions (Technology, Operations, Marketing, Finance, Compliance & Risk, Complaint Management) to implementthe Business Strategy.

5) Management of various Projects and drive the team for time bound completion.

Online Channel (Mobile Banking/INet Banking) [AGM]:

1) Dealing with techno-functional aspects of Digital Banking Products & Supporting IT applications in the Internet & Mobile Banking Applications.

2) Managing Digital Banking Solutions, Implementations, up gradations & delivering Digital Innovative solutions.

Finance And Accounts [AGM Compliance]:

  • To oversee submission of information under Tranche II of RBS relating to control GAP Analysis.
  • Responsible for timely dissemination of RTI applications received both online and offline to concerned CPIOs and ACPIOs and submission of the same.
  • Submission of status of major compliance matters to top management every month.
  • To assist in monitoring of the submission of the regulatory returns with inputs from ReSTS software to respective departments.
  • Analysis of data and reporting to top management. Arranging meetings of SSM / RBI officers and senior executives of the bank and accompanying them, when necessary.
  • Timely Preparation and Submission of memorandum to ACB and /or Board on RAR, RMP, Regulatory Non-Compliance identified by RBI.

IDBI SO Job Profile: Manager

ATMs/ CRMs [Manager]:

1) Managing ATMs / CRMs Payment solutions, ATMs/ CRMs site infrastructure and also their integration& deployments.

2) Handle new trends such as e-surveillance, anti skimming, EMV etc.

3) ATM / CRM business product conceptualization and implementations.

4) Liaising / interacting with various agencies such as VISA/Master/NPCI/ etc. in rolling out new variants of machines & solutions.

5) Liaising with various vendors for the procuring/designing of machines, & also for settlement of transactions with various vendors.

6) Regulatory framework on ATM business etc.

7) Compliances to information system Audits / Information Security Group.

Security [Manager]:

The Security Officer shall coordinate and manage all the security, fire safety, and disaster/crisis management related aspects of the zone/jurisdiction assigned. They will also be assigned additional duties of administrative/other nature in addition to security and safety aspects and would be required to be available for other/administrative duties from time to time.

FRMG – Data Analytics [Manager]:

1) Support in development, analysis, and monitoring of fraud detection systems.

2) Use statistical techniques to draw coherent conclusions about transaction/business data specially focused on transaction fraud.

3) Prepare reports related to emerging fraud leads, banking and card fraud analytics and fraud systems.

4) Identify process improvement opportunities through innovative techniques of analysis/segmentation.

5) Regular Monitoring of Fraud trends to proactively identify opportunities to revise and enhance on-going strategy or device new one to prevent fraud and reduce genuine customer impact

6) Write computer programming codes to perform statistical analysis.

7) Share advanced machine learning and execution knowledge with team members as new technique are discovered to solve analytical problems.

8) Development of statistical and machine learning models.

Enterprise Data Warehouse (Manager):

1. Provide assistance with production investigations and resolution of technical issues and/ or problems impacting business services or individual customers.

2. Maintain and develop data integration solutions to support the Bank’s Analytics platform.

3. Designing data marts/ data warehousing infra requirements to strengthen the data warehouse of the Bank

4. Solving day to day issues of production data marts.

5. Troubleshooting infrastructure issues such as performance issues, slowness, infrastructure management etc.

6. Responsible for translating/ understanding functional requirements to technical specifications and SDLC development in SAS/ Teradata area.

7. Involved in coding/ testing/ implementing/ documenting.

Enterprise Data Officer [AGM]:

1. Execute projects related to data management, governance and quality across the Bank.

2. Implement data policies, standards, organization, and enforcement of Information Management concepts.

3. Implement enterprise standards, report on data metrics, and other enterprise information/ data management initiatives.

4. Provide timely information and insights to improve decisions and optimize processes.

Treasury [Manager]:

Directly responsible for Interbank dealing in Forex covering spot, forward, swap, futures and Forex liquidity and OTC derivative portfolio /treasury sales with sound understanding of Forex market and Interest Rate/Currency Derivatives with clear business and profit target to achieve.

Manager – Legal [Manager]:

  • Examining legal issues referred by various departments of the Bank and opining thereon, drafting and vetting of loan & security documents & debt restructuring documents.
  • Investigation of title in respect of immovable properties mortgaged to the Bank, examining
    title reports prepared by the advocates and commenting on acceptability of title.
  • Handling issues pertaining to employee relations/industrial relations, handling cases before courts/tribunals/forums filed by or against the Bank including briefing advocates/senior advocates, attending court hearings.

Finance And Accounts [Manager – Legal]:

  • Handling GST related litigation matters and attending GST Auditors Statutory as well as Tax Authorities, Implementation and Review / Periodic monitoring of GST activities, Preparation and review of SOPs, Manual , Circulars and guidelines relating to GST, Impact analysis on various issues related to GST having implications on Bank’s business and functioning.
  • Filing of GST and Indirect tax Returns and Payment of Liability of the Bank (Output/Import/RCM/ITC optimization).

Finance And Accounts [Manager – Compliance]:

  • Co-ordinate with various departments for submission of specific information sought and arrangement of meetings with officers for RBI Inspection for supervisory evaluation. Arranging meetings of SSM / RBI officers and senior executives of the bank and accompanying them.
  • Responsible for monitoring the submission of the regulatory returns with inputs from ReSTS software to respective departments.

Demand Management [Manager]:

1. Prepare and define the scope of Request for Proposal (RFP), get the RFP vetted by legal team along with the in-principle approval for procurement from the Business

2. Evaluate the response for eligibility criteria and will co-ordinate business groups for evaluation of the technical and functional responses.

3. Tracking plans and schedules, performing analysis to identify and resolves critical path and dependency conflicts.

4. Utilize Gantt, PERT, milestone charts, and other project management techniques to gauge progress and identify performance variances to facilitate focus and intervention on
critical areas.

5. Facilitate the supply of accurate data to support effective prioritization decisions, providing information regarding constraints, business required dates and slippage.

6. Support both the implementation teams and the business to ensure the right pragmatic balance between control and timely delivery and quality.

Vendor Management [Manager]:

1. Monitor and enforce SLAs for project delivery, support and other IT services by vendors.

2. Centrally manage and track across the Bank the different types of licenses (core based license, enterprise wide license, user-based license etc.)

3. Maintain all procurement details like the number of licenses procured the purchase order reference number and the start date/ end date along with all the documentation work.

4. Maintain adequate and appropriate records of the vendor onboarded and all appropriate records throughout the procurement process

5. Provide required information to enable an audit or independent/ regulatory review.

6. Evaluate potential suppliers using developed and agreed criteria to support alignment and understanding of the expectations and requirements.

7. Monitor and report on the performance of selected vendors to ensure delivery in line with contractual obligations and performance metrics.

8. Liaise with procurement partners to review, report on and revise contractual agreements as necessary

IDBI SO Job Profile: Assistant Manager

Finance And Accounts [Assistant Manager – Compliance]:

  • To assist in monitoring of the submission of the regulatory returns with inputs from Returns Submission and Tracking Systems (ReSTS) software to respective departments.
  • Follow-up with departments for compliance of the Regulatory circulars and guidelines through RCTS.
  • Submission of monthly report to senior management w.r.t regulatory guidelines.
  • Responsible for ensuring timely submission of RBS data under Tranche-I to RBI.

Fraud Risk Management Mobile Banking/Internet Banking [Assistant Manager]:

1) Monitoring of suspected transaction (Real Time) identified by the Transaction Monitoring System/EFRMS.

2) Performing pattern/trend analysis, review of transaction which generated alert with ability to spot emerging issues related to suspected fraud.

3) Analyse/ Investigate the case/incident to confirm whether the transaction is genuine or fraudulent and ensure timely closure of the alerts.

4) Knowledge of Regulatory directions/ guidelines/norms of RBI, GoI, Network etc.

5) Preparing and submitting fraud monitoring reports and required development and calibration in scenarios & lists.

6) Co-ordinating with all Support functions, Product, Technology, Operations, Compliance to information system Audits/Information Security Group, Risk etc.

Fraud Risk Management – Card Based Business [Assistant Manager]:

1) Monitoring of suspected transaction (Real Time) identified by the various Transaction Monitoring System/EFRMS.

2) Performing pattern/trend analysis, review of transaction which generated.

3) Analyse/ Investigate the case/incident to confirm whether the transaction is genuine or fraudulent and ensure timely closure of the alerts.

4) Knowledge of Regulatory directions/ guidelines/norms of RBI, GoI, Network etc.

5) Preparing and submitting fraud monitoring reports and required development and calibration in scenarios & lists.

6) Co-ordinate with all support functions of Bank Technology/ Operations/ Compliance /Information System Audits/Information Security Group, /Risk/ Product etc. and Review of Fraud Risk Policies and guidelines, reporting to top management/RBI.

IDBI SO Salary 2021: Promotions And Career Growth

Initial appointment for all posts will be on probation for a period of 1 year from the date of joining (which can be extended at the discretion of the Bank). Candidate will be posted at the Bank’s discretion, to any offices of the Bank or the departments/ offices/ business units/ the Bank’s associate institutions. The candidate will also be liable to be transferred to any place in/ outside India, as the Bank may decide from time to time in terms of the Bank’s prevailing rules.

The IDBI Assistant Manager is of a Grade ‘A’ rank. If an individual fulfils all the responsibilities laid upon by the bank and plays his role efficiently, he will surely be in a position to get promoted to the various other senior management posts as follows:

  1. Assistant Manager Grade A
  2. Manager Grade B
  3. Assistant General Manager Grade C
  4. Deputy General Manager Grade D
  5. General Manager Grade E
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IDBI SO Salary 2021 FAQs:

Q. When was the apply online link get activated for IDBI SO 2021?

A. The IDBI SO 2021 Apply Online link is get activated on 24-12-2020.

Q. When will the last date for IDBI SO 2021 Apply Online?

A. The last date for IDBI SO Apply Online will be on 07.01.2021.

Q. How many vacancies were announced for IDBI SO 2021?

A. A total of 134 vacancies were announced for various grades.

Q. What is the IDBI SO Salary 2021?

A. The IDBI SO Salary 2021 for the selected candidates is Rs. 42,020/-

Q. What is the IDBI SO Salary In-Hand 2021?

A. The IDBI SO Salary In Hand 2021 is about Rs. 42,020/-

Q. What is the IDBI SO Salary 2021 for Manager?

A. The Manager comes under the Grade-B will receive in the scale of 31705-1145(1)-32850-1310(10)-45950 (12 years).

Q. What is the IDBI SO Salary 2021 for Assistant General Manager?

A. The Assistant General Manager comes under the Grade-C will receive in the scale of 42020-1310(5)-48570-1460(2)-51490 (8 years).

Q. What is the IDBI SO Salary 2021 for Deputy General Manager?

A. The Assistant General Manager comes under the Grade-C will receive in the scale of 50030-1460(4)-55870-1650(2)-59170 (7 years)

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