Indian Overseas Bank Announces General Manager CFO Recruitment 2026
The Indian Overseas Bank (IOB), a prominent Public Sector Bank functioning as a Government of India Undertaking, has officially issued a recruitment notification for the position of General Manager – Chief Financial Officer (CFO). Headquartered in Chennai, the bank published Advertisement No. HRDD/RECT/01/2026-27 on July 21, 2026, inviting applications from eligible finance professionals.
Candidates possessing the required qualifications can submit their applications online exclusively through the official IOB website, www.iob.bank.in. The registration window opens on July 22, 2026, and will remain active until August 5, 2026.
Vacancy Breakdown and Eligibility Criteria
The ongoing recruitment drive aims to fill a single vacancy (1 post) under the Unreserved (UR/Gen) category for the General Manager – Chief Financial Officer role. Within this allocation, no reservations are designated for SC, ST, OBC, EWS, or PwBD (VI-0, HI-0, OC-0, ID-0) categories. However, candidates from reserved backgrounds who meet the general eligibility standards are permitted to apply against this General category vacancy.
To qualify for the CFO position, candidates must meet specific criteria calculated as of the July 1, 2026 cut-off date:
- Age Limit: Applicants must not exceed 55 years of age (inclusive of all applicable age relaxations) by July 1, 2026.
- Educational Qualifications: The applicant must be a qualified Chartered Accountant. Individuals holding an FRM Certification and/or CFA will be given preference.
- Work Experience: A minimum of 15 years of experience overseeing financial operations—ideally in taxation and accounting within large corporates, Banks, PSUs, financial services, or FIs—is mandatory. Out of this, 10 years must be specifically in Banks or FIs, including 5 years operating at a Senior Management level.
- Nationality: The applicant must be an Indian citizen, a subject of Bhutan or Nepal, or a Tibetan refugee who entered India prior to January 1, 1962, to settle permanently. Persons of Indian origin who migrated from specific nations (Pakistan, Burma, Sri Lanka, Vietnam, and East African countries including Kenya, Uganda, the United Republic of Tanzania, Zambia, Malawi, Zaire, and Ethiopia) to settle in India are also eligible. Non-citizens must possess a Government of India eligibility certificate.
Salary, Perks, and Employment Terms
The appointed General Manager CFO will be positioned at the Central Office in Chennai. Compensation falls under the Scale VII-GM Level, with a pay scale ranging from Rs. 1,56,500 – 4340/4 – 1,73,860. The approximate Cost to Company (CTC) is structured around Rs. 44 lakhs per annum. Alongside the base salary, the selected executive is entitled to allowances per Scale VII rules, including D.A., HRA/Lease rental, CCA, and Medical benefits.
Upon joining, the candidate will be placed on a one-year probation period subject to continuous performance assessment. Confirmation of employment relies entirely on meeting the bank’s predetermined standards. Should the candidate fail to meet these minimum standards, their service is liable to be terminated. Furthermore, the newly appointed official must execute a Bond of Rs. 3 lakhs, committing to serve the bank for a minimum of 3 years. Resigning before this three-year period expires will result in the invocation of the bond.
Core Roles and Responsibilities
The Chief Financial Officer will spearhead various critical financial functions at IOB, including:
- Financial & Tax Compliance: Managing the statutory auditing process, handling GST and TDS compliance, optimizing the bank’s tax liabilities, and reporting audit results as per SEBI regulations. The CFO will also monitor crucial metrics like ROA, ROE, and Non-Interest Income while handling WBLFAR matters and coordinating with RBI and NFRA.
- Accounting Systems: Implementing IND AS/IFRS and sustaining accounting protocols in adherence to Accounting Standards, RBI Guidelines, and Internal Financial Controls over Financial Reporting (IFCOFR).
- Management Reporting & Strategy: Working alongside the Financial Control Department to assess Whole Bank and regional performance. The executive will also manage stakeholder relationships (investors, government, rating agencies), oversee MIS reporting, facilitate strategic capital planning, optimize the balance sheet, and dictate the medium-term financial strategy.
- International Banking: Ensuring tax compliance and accounting alignment with local regulators for the International Banking Group.
Selection Process
The bank will select the final candidate through a Personal Interview and Discussion, carrying a total of 100 marks. To pass, candidates must secure minimum qualifying marks of 50 (or 45 for OBC/SC/ST/PwBD individuals). In the event of a tie in cut-off marks, candidates will be ranked in descending order of age.
Before the interview phase, IOB may conduct a preliminary screening to shortlist individuals based on their experience, suitability, and qualifications. Simply satisfying the minimum requirements does not guarantee an interview invitation; the bank may factor in extended experience, additional credentials, and previous responsibility levels. The bank reserves the right to modify the selection method based on the volume of applications.
Essential Dates and Application Fees
- Notification Release Date: 21.07.2026
- Opening Date of Online Registration: 22.07.2026
- Closing Date of Online Registration: 05.08.2026
- Application Fee Payment Window: 22.07.2026 to 05.08.2026
- Eligibility Determination Date: 01.07.2026 (inclusive)
- Personal Interview Date: To be communicated via email call letter.
The non-refundable application fee (inclusive of GST) must be paid strictly via online modes (Internet Banking, Debit Card, or Credit Card). General, EWS, and OBC candidates are required to pay Rs. 1000/-. Conversely, SC, ST, and PwBD applicants must pay Rs. 175/- (Intimation Charges only).
How to Apply and Required Documents
Interested professionals must navigate to the “Careers” section at www.iob.bank.in. Selecting the “RECRUITMENT OF CHIEF FINANCIAL OFFICER” link, candidates can click on “Click here to Register Online” to obtain a system-generated Registration Number and Password. Applicants must then follow Annexure I guidelines to upload their signature and photograph.
During the online process, mandatory documents in PDF format (each under 200KB) must be uploaded. These include the Birth/SSC Certificate, Final Degree Certificate or Consolidated Mark Sheet, CA Certificate, Work Experience Certificate, and a No Objection Certificate (NOC) from the current employer, if applicable. After hitting “COMPLETE REGISTRATION,” candidates must finalize the fee payment and print both the e-receipt and the application form.
If shortlisted for the Personal Interview, candidates must present a combination of original and self-attested photocopies of the following:
- Valid Interview Call Letter and registered online application printout.
- Proof of Date of Birth (Birth Certificate or SSLC/Std. X Certificate).
- CA Qualification certificates and preferred FRM/CFA certifications.
- Other UG/PG mark sheets and certificates.
- Photo identity proof (Passport, Aadhaar, e-Aadhaar Card, PAN Card, Driving Licence, or Voter’s Card).
- Work experience documentation (Appointment Letters, Experience Certificates, Relieving Letters, Pay/Salary Slips).
- Category/Disability certificates (Caste Certificate, Income and Asset Certificate for EWS, District Medical Board Disability Certificate for PwBD, and non-creamy layer OBC certificate issued on or after 01.04.2026). OBC candidates in the creamy layer must apply as General.
- NOC for individuals working in PSUs, Government/Quasi-Government offices, or Financial Institutions.
Incomplete applications or those missing mandatory documents will face outright rejection. Submitted applications cannot be withdrawn, and IOB does not entertain requests to alter category, interview dates, centres, or communication details after registration. Outstation, unemployed SC/ST/PwBD candidates appearing for the interview can claim reimbursement for the shortest route second-class ordinary train fare upon providing travel evidence. Canvassing will trigger immediate disqualification. The English advertisement on the bank’s official portal supersedes all other versions, with any legal disputes falling exclusively under Chennai court jurisdiction.
