J&K Bank Fresh Job Recruitment 2024 – Salary: 30,000/-per month
Name of the Posts : Credit Auditors
Last Date To Apply : 11.09.2024(Extended)
Salary : Rs.30,000/-per month
Online applications are invited from the Retired Officers of J&K Bank & Other PSU Banks for engagement as Credit Auditors for the period 01/10/2024 to 30/09/2025 for Branches/LCUs of the bank at various states / UTs across the country.
Eligibility Criteria :-
i) Having retired honorably, either superannuated or through VRS (not having been awarded any major or minor punishment, charge sheeted & punished for serious lapses/offences in his/her active service). In this regard, retired officers of other PSU Banks should furnish a certificate (in the prescribed Annexure) from the Human Resource Department of Head Office of their respective employer banks.
ii) Officer should have retired in Scale III or above and should have a minimum experience of 15 years as an Officer in the bank with satisfactory track record, including 3 years of experience in dealing with high value credit, project finance, consortium lending, foreign
exchange portfolio at Branches or controlling office/s or as Credit Auditor.
iii) Must not be above the age of 65 years as on 01.09.2024.
iv) Must be medically fit to carry the assignment of the Credit Audit (a certificate from a medical practitioner (minimum MBBS) to this effect must be submitted with the application). Must be able to undertake travel even to distant Branches/LCUs/places for audit/inspection/security verification, in case of need.
v) Should have adequate computer knowledge and should be able to handle computers independently as the audit report are to be punched online.
vi) Must be well versed and familiar with Finacle Core Banking Solution (CBS). Application format is available on Bank’s website www.jkbank.com. Applications are to be submitted online within fourteen (14) days from the date of publication of this notification, i.e by or before 04.09.2024.
Hard Copies of downloaded application form along with duly filled annexures should reach the office of Deputy General Manager, S, C and Audit Division, J&K Bank Corporate Headquarters, M.A.Road, Srinagar 190001 by or before 07.09.2024. Bank reserves the right to reject any application without assigning any reason(s) thereof.
Guidelines and Other Terms & Conditions for Credit Auditors.
1. While conducting the audit, the Credit Auditor shall ensure that violations, of gross nature if any, from prescribed systems and procedures are timely brought to the notice of the Management of J&K Bank for corrective and remedial action so also to avoid their repetition.
2. It is obligatory on the part of the Credit Auditor that the cases allotted to them for the purpose of conducting audit should under no circumstances be entrusted / sublet to any other firm / individual / company on contract basis.
3. It should be ensured that the information on customers of the bank which you would acquire during the conduct of credit audit by virtue of access to bank’s books / record would be kept strictly confidential in conforming to the bank’s secrecy obligations. It should also be noted that credit auditor would be liable to the bank for any loss arising out of divulgence of any information by you. The bank shall also remain indemnified by you in this regard. A secrecy bond enclosed herewith should be returned duly signed by Credit Auditor on Rs. 100/- Non-Judicial Stamp Paper.
4. The Bank reserves the right to terminate this engagement at any time without assigning any reason therefore and without giving any notice.
5. In the event of credit auditor’s intentions to discontinue the audit of the allotted borrowal account, it will be mandatory on the part of credit auditor to inform the concerned Divisional Deputy General Manager, Supervision & Controls Division of their respective Division, at least one month prior to discontinuation of the audit assignment. In case of failure, bank shall not be liable for payment of fee for the month lastly audited.
6. The bank reserves its right to withhold / recover the professional fee in case the audit is not conducted as per the Credit Audit Policy / Terms and Conditions / Guidelines and further additions / amendments advised by the bank from time to time.
7. The credit auditor shall not carry any mass storage device such as pen drive / flash drive/ thumb drive or any Lap top inside the branch premises and use of those devices which are not required for the assigned job.
8. The Credit Auditor should not undertake any other activities / assignment on behalf of the branch/operational office without obtaining the concurrence of the S,C & Audit Division, Corporate Headquarters in writing.
9. The Credit Auditor will not be eligible for any other allowances/reimbursements/claims other than the assigned fixed consolidated fee of Rs.30,000/-per month subject to regulatory guidelines in respect of Tax & GST applicable.
10. The empanelled credit auditor shall be accountable/responsible for the acts of omission and commission during the course of the engagement.
11. Incase of observing any major / serious irregularities the Credit Auditor should not wait until the audit report is completed/concluded. The reports should be sent as & when the irregularities are committed/or noticed by the auditor. A few instances of major irregularities which require submission of “Flash Reports” could be:
a. Serious violation of RBI regulatory guidelines / bank’s policies and procedures relating to any segment of banking business;
b. Manipulation / tampering with the vital data / information resulting in concealment of actual state of affairs of a branch / health of loan assets/serious revenue leakage etc.;
c. Glaring deficiencies in execution of security documents for securing credit facilities including under-stamping/non-stamping of loan documents or failure to create a charge/lien in favour of the bank, when such a charge/lien could have been created in normal course of banking business;
d. Observation of cases of bribery/corruption on the part of the branch officials; cases of actual frauds/attempt to create frauds/mis-appropriation or abuse of delegated powers/authority to get pecuniary benefit at the expense of the bank; improper use of discretionary powers/delegated powers, undue favouritism & nepotism; or any such type of malpractices that are detrimental to the health/ interests of a branch/bank;
e. Any other matter of confidential nature involving working of the personnel/officials of a branch.
f. To examine whether any fictitious accounts are operating wherein the cheque purchase facilities have been allowed and loans have been granted with a view to concealing the fraudulent transactions. These reports must be directly addressed to the General Manager/ Deputy General Manager (S&C) of the concerned Divisional / Zonal Office.
12. The performance of the Credit Auditor cannot be judged by his/her voluminous audit report but by the timely submission of the report and quality of report. The report has to be comprehensive covering all aspects very meticulous and in depth. Its coverage and comprehensiveness should be all pervasive and nothing left out.
Eligibility Criteria for Retired Officers of other PSU Banks
Should be retired honourably either superannuated in normal course or through premature Voluntary Retirement not having been awarded any punishment (major or minor) in his/her active service career from their respective banks in Scale III & above. In this regard, a certificate from the Human Resource / Disciplinary / Vigilance Authority of the respective banks should be furnished by the applicants.
Must have minimum banking experience of 15 years’ service as an officer in the bank with satisfactory track record. (Certificate issued by respective bank to this effect must be submitted with the application.)
Should be well aware of the computerized environment, well versed and familiar with Core Banking Solution and / or any other banking application software used in the Bank.
Should have good track record possessing 3 years of experience in dealing with high value credit, project finance, consortium lending etc. at branch or controlling office/s or as Credit Auditor. However, priority shall be given to officer having retired in higher cadre provided other eligibility criteria is / are satisfied. (Certificate issued by respective bank to this effect must be submitted with the application)
Must have handled credit /Forex /audit /inspection portfolio of branch or have handled credit/investment/Forex/inspection/audit portfolio at Zonal/Divisional/Corporate Headquarters as an officer. (Certificate issued by respective bank to this effect must be submitted with the application.)
Should not be above the age of 65 years as on 1st September 2024. (Certificate issued by respective bank to this effect must be submitted with the application)
Must be having a sound health i.ehe must be medically fit to carry the assignment of the Credit Audit (a certificate from an MBBS doctor to this effect must be submitted with the application). Must be able to undertake travel even to distant Branches/LCUs/places for inspection/security verification, in case of need.
Must possess adequate computer knowledge and should be able to handle computers independently, as the audit report has to be punched online.
Must possess the requisite aptitude, analytical ability and flair to take up audit assignment.
Must have high sense of involvement and should have the ability to motivate others.
Should not be involved in any sort of investigation by any internal or external Government Agency nor any FIR lodged against him/her.
Removal / Disqualification / Termination of Outsourced Credit Auditor
Credit Auditors, will be subject to removal/de-listing/de- empanelment in following cases:
He / she has been engaged as ‘Credit Auditor’ in the bank on basis of misrepresentation or suppression / concealment of material facts.
He / she has violated the covenants of Non-disclosure agreement of his / her contract of engagement.
He / she was found to be gainfully employed in any other Government/Semi Government/Private office or with any other employer.
He / she failed to notice lapses in decision making of branch / LCU or did not report violations of the branch / LCU vis-à-vis laid down policies of the Bank / regulatory guideline of RBI besides transgression of powers by Branch / LCU etc.
During the engagement of retired bank officer as credit auditor in the bank or prior to it, if otherwise established that he / she is convicted for any offence and sentenced to a term of imprisonment or has been guilty of misconduct in his / her active services which in the opinion of management of the bank render him / her unfit for said assignment.
During the engagement period of credit auditor, in case the performance report is found deficient based on any of the parameters mentioned at clause 7.6 forwarded by concerned S, C & Audit Division & is duly endorsed by the S,C & Audit Divisional Head for removal / disengagement of credit auditor.
He / she refuses to take up the allotted assignment & non commencement/ completion/non-submission of audit report within prescribed time.
He / she refuses to attend to any inspection/audit assignment or delay it, without proper justifications/reasons.
He / She fails to attend the assigned branch / LCU / Zone / Division on regular basis for Credit Audit.
Unsatisfactory performance is observed on the part of credit auditor or deviation from the terms of engagement, his / her assignment will be cancelled even before completion of the allocated period of one year.
Any other act(s) / factor(s) on part of auditor which may have an impact on completion of audit assignment / audit plan of the concerned S,C & Audit Division at Zonal Level.
The Bank reserves the right to terminate the engagement at any time without assigning any reason thereof and without giving any notice.
Other Conditions of Engagement:
The Credit Auditor will not sub-let / sub-assign the audit assignment to any person / firm. Selection of Credit Auditor will be the sole discretion of J&K bank.
The Credit Auditor will be liable to be removed at any time at the sole discretion of J&K bank without assigning any reason.
The empanelled credit auditor shall be accountable/responsible for the acts of omission and commission during the course of the engagement.
The Credit Auditor should strictly adhere to the audit coverage as per the role & responsibilities of credit auditor / scope of prescribed credit audit policy / guidelines as may be communicated / decided by the Bank from time to time.
The Credit Auditor should not undertake any other activities / assignment on behalf of the branch/operational office without obtaining the concurrence of the S,C & Audit Division, Corporate Headquarters in writing.
The empanelled Credit Auditor will not be eligible for any other allowances/reimbursements/claims other than the assigned fixed consolidated fee.
The Credit Auditors shall mandatorily serve a notice period of at least one month before resigning from the Audit assignment and has to make sure that the audit/s assigned have been submitted/completed within the notice period. Not serving a prescribed notice period will entail dis-qualification for future engagement for a period of One year.
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