INTERNATIONAL FINANCIAL SERVICES CENTRES AUTHORITY

IFSCA-Admin/06/2024/GAD 18.06.2024

Sub: Filling up of various posts in IFSCA at GIFT City, Gandhinagar, on Deputation /

Direct Recruitment basis

International Financial Services Centres Authority (IFSCA), is a statutory body under

IFSCA Act, 2019. The Authority functions as a unified regulator and is empowered to exercise
the powers of RBI, SEBI, IRDAI and PFRDA in respect of financial services, financial products
and financial institutions performed/located in the international financial services centres in the
country.

2. The Authority proposes to fill up various posts in its headquarters at GIFT City,
Gandhinagar. Details of the posts to be filled up, mode of recruitment, number of vacancies in
respect of each post, specializations required, and qualification/experience for eligibility, etc., for
each Grade, are given in Annexure - I. Additional experience required for each specialisation is
given in Annexure -II.

3. The mode of recruitment for each post, except the post of ED, may be either Deputation
or Direct Recruitment, i.e., except for posts specifically earmarked for Deputation, Posts
earmarked for Direct Recruitment may be filled up by Deputation or Direct Recruitment
depending on the suitability and choice of applicants for such posts. In case a post is filled up by
Direct Recruitment, reservation, as indicated against the mode of recruitment for each post in
Annexure 1, will apply.

4. General Instructions for applicants are at Annexure – III. Candidates who satisfy the
eligibility criteria may apply in the prescribed format at Annexure – IV. Applications along with
supporting documents should be sent by post in a cover superscribing the post applied for ‘IFSCA
– application for the post of (Write name of Post – Write name of specialization) to the following
address:

The General Manager (HR/Admin.)

International Financial Services Centres Authority (IFSCA),
Second floor, PRAGYA Tower, Block 15, Zone 1, Road 1C, GIFT SEZ, GIFT City,
Gandhinagar Gujarat-382355.
Email: [email protected]

5. The closing date and time to receive the application is July 22, 2024 at 6.00 PM.

6. In case of any change in this notice the same will be displayed on IFSCA website.
Accordingly, all interested applicants are requested to visit the IFSCA website ifsca.gov.in
regularly and keep themselves updated.

(Arun Kumar Singh)

General Manager
 ANNEXURE -1
DETAILS OF POSTS TO BE FILLED UP IN IFSCA

S.No. Particulars Description

1. Post Executive Director

2. Pay Scale ₹204000-6000(2)-₹216000

3. No. of vacancy 2

4. Mode of recruitment Deputation

5. Specialization i. Insurance – 1 vacancy

ii. Regulatory Affairs and Enforcement – 1
vacancy

6. Qualification & Organization Deputation from Government, RBI, SEBI, IRDAI,

Experience for PFRDA, Banks, Financial institutions and Academic
Deputation Institutions; and from other relevant Organizations
Experience Not less than 20 years of experience in dealing with
subjects relating to securities market, Banking,
Insurance, Pension, financial products, financial
services or special knowledge /experience of law,
investigation, Finance, Economics, Accountancy,
Administration or any other discipline considered useful
to the Authority.

Additional requirements for this specialization is given

in Annexure – II.

S.No. Particulars Description

1. Post CGM (Officer Grade F)

2. Pay Scale ₹165900-5000(4)-₹185900 (5 years)

3. No. of vacancy 1

4. Mode of recruitment Deputation / Direct Recruitment (UR 01)

5. Specialization Banking supervision

6. Age, Age Not more than 52 years of age as upper limit.

Qualification &
Qualification i. Master’s Degree with specialization in Statistics
Experience for / Economics / Commerce / Business
Direct recruits Administration (Finance) / Econometrics.
ii. Bachelor’s Degree information technology/
computer science/ Masters in Computers
Application/ information technology.
iii. Bachelor’s Degree in Commerce with CA, CFA,
CS, ICWA.
 iv. Bachelor’s Degree in Law or in any other
discipline from a recognized
University/Institute, which in the opinion of the
Authority is useful.

Experience Must possess minimum of 17 years experience in the

fields of financial products, financial services and
financial institutions.
7. Qualification & Experience Not less than 17 years of experience for Grade-F in All
Experience for India Service/ Central Civil Service as Group A officer
Deputation or equivalent experience in RBI, SEBI, IRDAI, PFRDA
Banks, Financial Institutions, academic Institutions and
other regulatory bodies, Central/State Statutory/
Autonomous/Subordinate Authorities.

The experience shall be in dealing with the activities

relating to securities market, Insurance, Banking,
Pension, financial products and financial services,
special knowledge / experience of law, investigation,
finance, Economics, Accountancy, Administration, or
any other discipline considered useful to the Authority.
8. Additional requirements for this specialization for both Deputation and Direct
Recruitment are given in Annexure – II.

S.No. Particulars Description

1. Post DGM (Officer Grade D)

2. Pay Scale ₹110050-3550(2)-117150-3700(5)-135650-3900(1)-

₹139550 (9 years)
3. No. of vacancy 5

4. Mode of recruitment Deputation/ Direct Recruitment: (UR 02, EWS 01, SC

01, OBC 01)
5. Specialization i. Enforcement
ii. Insurance
iii. FinTech
iv. HRD & Admin
v. Development

6. Age, Age Not more than 45 years of age as upper limit.

Qualification & Qualification i. Master’s Degree with specialization in Statistics
Experience for / Economics / Commerce / Business
Direct recruits Administration (Finance) / Econometrics.
ii. Bachelor’s Degree information technology/
computer science/ Masters in Computers
Application/ information technology.
iii. Bachelor’s Degree in Commerce with CA, CFA,
CS and ICWA.
iv. Bachelor’s Degree in Law or in any other
discipline from a recognized
University/Institute, which in the opinion of the
Authority is useful.

Experience Must possess minimum of 8 years’ experience in the

fields of financial products, financial services and
financial institutions.
 7. Qualification & Experience Not less than 8 years of experience for Grade-D
Experience for as Group A Officer in All-India Service/ Central Civil
Deputation Services/Regulatory bodies, Central/State Statutory/
Autonomous/ Subordinate Authorities or an Officer in
RBI, SEBI, IRDAI, PFRDA Banks, Financial
Institutions, academic Institutions.

The experience shall be in dealing with the activities

relating to securities market, Insurance, Banking,
Pension, financial products and financial services,
special knowledge / experience of law, investigation,
finance, Economics, Accountancy, Administration or
any other discipline considered useful to the Authority
8. Additional requirements for this specialization is given in Annexure – II.

S.No. Particulars Description

1. Post AGM (Officer Grade C)

2. Pay Scale Assistant General Manager (AGM) : ₹77950-2850(3)-

86500-3100(2)-92700-3300(4)-105900-EB-3300(2)-
112500-3550(1)-₹116050 (13 years)
3. No. of vacancy 11

4. Mode of recruitment Direct / Deputation

Deputation/Direct Recruitment*: 7 (UR 05, OBC 2)
Deputation: 4
5. Specialization 1. Development
2. HRD & Admin
3. Legal
4. Enforcement
5. Investment Funds
6. Capital Market (3 vacancies)
7. Finance and Accounts
8. Banking Supervision
9. Sustainable Finance

6. Age, Age Not more than 35 years of age as upper limit.

Qualification &
Qualification i. Master’s Degree with specialization in
Experience for Statistics /Economics / Commerce/ Business
Direct recruits Administration (Finance) / Econometrics.
ii. Bachelor’s Degree information technology/
computer science/ Masters in Computers
Application/ information technology.
iii. Bachelor’s Degree in Commerce with CA,
CFA, CS, ICWA.
iv. Bachelor’s Degree in Law or in any other
discipline from a recognized
University/Institute, which in the opinion of
the Authority is useful.

Experience Must possess minimum 6 years of post-qualification

experience in the fields of financial products, financial
services and financial institutions.

7. Qualification & Experience Not less than 6 years of experience for Grade-C as
Experience for Group A Officer in All-India Service/ Central Civil
Deputation Services/Regulatory bodies, Central/State
 Statutory/Autonomous/ Subordinate Authorities, or an
Officer in RBI, SEBI, IRDAI, PFRDA Banks,
Financial Institutions, academic Institutions.

The experience shall be in dealing with the activities

relating to securities market, Insurance, Banking,
Pension, financial products and financial services,
special knowledge / experience of law, investigation,
finance, Economics, Accountancy, Administration or
any other discipline considered useful to the Authority.
8. Additional requirements for this specialization is given in Annexure – II.

*One Direct Recruitment post of AGM reserved for PwBDs categories (d) and (e), as mentioned
in Para 2.2 of DoPT O.M. No. 36012/1/2020-Estt.(Res.-II) dated 17th May, 2022.

N.B.: No. of vacancies may be varied at the discretion of the Authority.

 Annexure - II
Additional experience required for each specialization

a. For Executive Director (ED) (Insurance): Minimum 14 years’ of development/ regulatory

work experience in Insurance and Reinsurance operations.

b. For Executive Director (ED) (Regulatory Affairs and Enforcement): Minimum 14 years’
experience in regulatory department making policies for (Regulated Entities) REs like
Banks/NBFCs/Insurance companies etc. or Enforcement Department.

c. For CGM (Banking Supervision): Minimum 10 years’ experience of handling overall

responsibility of the risk-based supervision of institutions (in line with the annual
supervisory programme) and the monitoring of all supervised institutions with relevant
regulations, including:

i. Oversight of the conduct day-to-day banking supervision tasks

ii. Assessment of the risks to the business models, governance, capital and liquidity of
supervised entities based on available quantitative and qualitative information and on-site
and off-site investigations
iii. Identify and propose supervisory measures to be taken
iv. Assess the compliance of supervised entities with relevant regulations, supervisory
decisions, recommendations and other supervisory measure
v. Help to define the scope of future supervisory activities and plan accordingly

d. For (Development):
i. Prior experience of working in the financial sector with multilateral development
organizations such World Bank, OECD, ADB, AIIB, etc; or
ii. Prior experience in international relations & International policy matters; or
iii. Prior experience in international finance; or
iv. Prior experience in investment promotion and facilitation.
Number of years of experience in the above fields for

i. DGM: 4 Years
ii. AGM: 2 Years.

e. For DGM (Insurance): Minimum 4 years of development/ regulatory work experience in

Insurance and Reinsurance operations.

f. For (Admin/HRD): Work experience in the field of human resources management,

including recruitment, training management, performance management, promotion
procedure, cadre review, maintenance of service records, preparation of reservation roster,
etc., procurement of goods and services, especially through Government Electronic
Marketplace, disposal of obsolete/scrap material, hiring/letting out of premises,
acquisition/disposal of property, contract management, facility management, event
management.
Number of years of experience in the above fields for

i. DGM: 4 Years
ii. AGM: 2 Years.

g. For AGM/DGM (Enforcement): Professional qualification of Bachelor of Law is required.

An officer having minimum six/eight years of work experience in the legal or enforcement
department related to Banking, Capital Market, Insurance or Pension. Minimum work
experience of two/three years in enforcement is required for AGM/DGM enforcement.

Essential professional qualification: Bachelor of Law

h. For DGM (FinTech): Minimum 4 years of experience in the following:

 i. Knowledge of FinTech related Regulations, Frameworks and Circulars is mandatory
ii. Exposure to Regulatory Reporting, Supervision and Grant Schemes is desirable.
iii. Appreciation of trends and developments in the field of FinTech and TechFin.

i. For AGM (Legal): Legal background and with minimum six years of work experience in
the legal policy, legal affairs or enforcement related to Banking, Capital Market, Insurance
or Pension.

Essential professional qualification: Bachelor of Law

j. For AGM (Funds): Minimum 2 years of work experience in dealing with activities relating
to securities market, financial products and financial services in the area of policy
formulation/ registration/ supervision/ legal documentation/ compliance/ investment/ risk
management or operations. Preference may be given to candidates having prior experience
in dealing with Investment Funds and fund management related activities such as AIF/
Mutual Funds/ PMS/ REIT/ InvIT, etc.

k. For AGM (Capital Markets): Minimum 2 years of work experience in dealing with
activities relating to securities market, financial products and financial services in the area
of policy formulation/ registration/ supervision/ legal documentation/ compliance/
investment/ risk management or operations. Preference may be given to candidates having
prior experience of working with securities market regulator in the areas of primary market,
secondary market and investment funds.

l. For AGM (Sustainable Finance): Minimum 2 years of work experience in dealing with
activities relating to securities market, financial products and financial services in the area
of policy formulation/ research / legal documentation/ compliance/ investment/ risk
management or operations. Preference may be given to candidates having prior experience
of working in areas of Sustainability / Sustainable Finance and candidates with
qualification / certification related to Sustainable finance, Climate risk and related areas.

m. For AGM (Finance & Accounts): Minimum 2 years of work experience in the field of
finance and Accounts, including review of accounting entries, guidance in preparation of
MIS reports involving financial matters of Tax compliance, Budget preparation, payroll
management, internal checks, control, internal audit, liaisoning with CAG and chartered
accountants, and preparation of Annual Accounts, etc.

Essential professional qualification: Chartered Accountant

Note: Minimum years of work experience specified for various specialisations in this
annexure shall be as on date of closing of application.
 Annexure – III

GENERAL INSTRUCTIONS:

1. Applications not in the prescribed format, incomplete and/or received in this Authority
after the closing date are liable to be rejected. The Authority takes no responsibility for any
delay in receipt of application or loss thereof in postal transit.
2. When applications are for recruitment on Deputation, applications of eligible candidates
whose services can be placed at the disposal of the Authority immediately in the event of
their selection must be duly forwarded by the present employer along with attested copies
of ACRs/APARs or equivalent appraisal reports for the last five years, Vigilance clearance
and Cadre clearance/NOC from employer, on or before the closing date.
3. In cases where an applicant is unable to route his/her application before the date of closing
of applications, an advance copy along with all relevant documents available, may be sent
to the designated address so as to reach this Authority on or before the closing date of
application. However, in such cases, complete application as required under S.No.2 above,
should reach the Authority at least 7 working days before the tentative date fixed for
interview/exam.
4. The period of deputation including the period of deputation in another ex-cadre post held
immediately preceding this appointment in the same or some other organization or
department of the Central Government shall ordinarily not exceed three years. However,
the same may be extended for suitable period(s) with mutual consent of the lending
organisation and this Authority.
5. Mode of Selection will be Interview. Interviews may be in a single round or in multiple
rounds at the discretion of the Authority.
6. The Authority reserves the right to modify the selection procedure, if deemed fit. However,
such modification in the selection procedure will be duly notified before the last date of
receipt of applications.
7. Applications should be submitted separately for different posts as well as for different
modes of selection, i.e., if applying for both Direct Recruitment and Deputation for any
post, separate applications need to be submitted. Single application for multiple posts
and/or modes of recruitment shall be summarily rejected.
8. In case of direct recruitment, relaxation of maximum age shall be available for
SC/ST/OBC/PWD/Ex-Servicemen applicants as per the rules of the Government of India
9. In case of direct recruitment, where there is no vacancy reserved for
SC/ST/OBC/EWS/PwBD category candidates, such candidates can still apply. However,
they will not be eligible for any relaxation.
10. Candidates belonging to OBC category but coming in the 'Creamy Layer' are not entitled
to OBC reservation.
11. Benefit of reservation under EWSs category can be availed upon production of an ‘Income
and Asset Certificate’ for Financial Year 2023-24 issued by a Competent Authority on the
format prescribed by the Government of India.
12. In case of direct recruitment, the qualification regarding experience is relaxable at the
discretion of the competent authority in the case of candidates belonging to the Scheduled
Castes or Scheduled Tribes, if at any stage of selection, the competent authority is of the
opinion that sufficient number of candidates from these communities possessing the
requisite experience are not likely to be available to fill up the vacancies reserved for them.
The appointing authority shall record the reasons for relaxing the qualifications regarding
experience in writing while doing so.
13. The crucial date for determining eligibility, including upper age limit, qualification and
experience requirements, category etc., will be closing date of application.
14. Candidates should be satisfied with their eligibility for the post applied for. The Authority
shall determine their eligibility and only eligible candidates will be called for interview.
15. Merely fulfilling the eligibility conditions laid down in the advertisement as regards
qualifications and experience, would not automatically entitle any candidate to be
shortlisted for interview.
16. If an applicant is not eligible or has knowingly or wilfully furnished incorrect or false
particulars or suppressed material information, his/her candidature will be liable to be
cancelled at any stage of the selection.
17. If an applicant qualifies in the selection process and is selected for appointment/appointed
but subsequently it is found that he/she does not fulfill the eligibility criteria, his/her
candidature/appointment will be terminated forthwith without any compensation. This will
 be without prejudice to any other action that may be initiated against such applicant, as
may be deemed fit.
18. The Authority reserves the right to decrease or increase the number of posts to be filled.
19. The Authority reserves the right to fill all the posts, not fill up any post at all, or cancel the
recruitment process fully or partly without assigning any reasons for the same.
20. Canvassing in any form will disqualify the candidate.
21. The decision of Authority in all matters relating to this recruitment process would be final
and binding.

******
 Annexure – IV

APPLICATION FORM

INTERNATIONAL FINANCIAL SERVICES CENTRES AUTHORITY

APPLICATION FOR THE POST OF ____________________ON DIRECT RECRUITMENT /
DEPUTATION BASIS
1. Name of Applicant
(Block Letters)

2. Father’s Name

4. Category
3. Sex: M F
(√) (Please √ wherever applicable):
(Only Direct Recruitment
Applicants)

Paste
D D M M Y Y Y Y GEN OBC SC ST EWS Passport
5. Date size
of photograph
Birth: in the box
and sign
across it

6. Total Experience (in years): Please mention the field of experience year-wise As per Appendix 1

7. PwBD: (YES/ NO) (If YES, specify the category of disability)

(Only Direct Recruitment Applicants)
8. Ex-Servicemen (YES/ NO)
(Only Direct Recruitment Applicants)
9. Stream Applied For:
10. Last Pay Drawn and Annual CTC:
11. Academic Qualifications as on 01/06/2024:
Qualification Examination Main Subjects Year of University/ Overall Class/
passing Institute (%) of Divisi
Marks on

Graduation

Post
Graduation

Any other
12. Mode of
recruitment –
DIRECT / DEPUTATION
applied for
13. Postal Dist.:
Address
(English – in
capital letters State:
only)
Pin Code: E Mail :
Mobile: Telephone with STD code:

I declare that the information furnished above is true and correct to the best of my knowledge &
belief. I understand that if at any stage, if found that any information given in this application is false/
incorrect or that I do not satisfy the eligibility criteria according to the Authority, my candidature/
appointment is liable to be cancelled / terminated. I have read and understood the stipulations given in
the advertisement and hereby undertake to abide by them.

Place:
Date: Signature of the Applicant

Appendix 1
Total Experience (in years):
Please mention the field of experience year-wise:

S.No. Name of the Position Job Period of Duration Significant

Employer held/ Profile service achievements
and address designation during the
From To Years Months tenure
1

Note: Please add more rows if required.

Attachments to be sent along with the Application Form:

Applying on Deputation:

1. Pay slip (latest month)

2. Proof of experience
Applying on direct recruitment basis:
Documents to be attached:

1. Proof of Date of Birth:

a. Copy of PAN Card, or
b. Copy of Election Photo ID Card, or
c. Copy of Driving Licence, or
d. Copy of Passport (relevant page), or
e. Class X Marksheet/Certificate (indicating date of birth)
2. Proof of educational qualifications: Copies of Marksheets/Certificates of educational
qualifications indicated
3. Last drawn salary (Pay slip)
4. Proof of experience
5. SC/ST/OBC/EWS/ PwBD applicants must submit a copy of certificates issued by a
competent authority in the format prescribed by the Government of India.

*****