Summary
Date Posted: Friday, January 05 2024, Base Salary: Not Disclosed

JOB DETAILS:
Bank of India is a leading Public Sector Bank in India and completed 115 years in 2021. It has network of over 5200 Branches in India and 60 Overseas Branch/Offices across the globe in all important centers. Bank of India (Tanzania) Ltd, is a fully owned subsidiary of Bank of India. The Board of Directors of Bank of India (Tanzania) Ltd would like to invite applications from suitable candidates for the position of Independent Non-Executive Director.

Requirement of Applicant
1. A person does not hold any executive or management position in a bank or financial institution.
2. A person shall not simultaneously serve as a Board member or in any executive capacity in any bank or financial institution in Tanzania
3. A person does not have, directly or indirectly, a significant interest in Bank of India (T) Ltd including any parent or subsidiary in a consolidated group with the Bank of India (T) Ltd.
4. A person has not been employed by the Bank of India (T) Ltd or any of its banking group of which he currently forms part in any executive capacity for the preceding three years;
5. A person Is not a member of the family of an individual who is, or has been in any of the past three years, employed by the Bank of India (T) Ltd or any of its banking group in an executive capacity.
6. A person Is not a professional advisor to the Bank of India (T) Ltd or any of its banking group;
7. A person Is free from any business or other relationship which seems to interfere with the individual’s capacity to act in an independent manner; and
8. A person does not receive remuneration contingent upon the performance of the Bank of India (T) Ltd;
9. A person who has served as Board member or Chief Executive Officer of Bank of India (T) Ltd for a consecutive period of ten years shall not qualify for appointment in Bank of India (T) Ltd, or its subsidiaries in any capacity until after a period of three years.
10. A person shall not be appointed as a director during the two-year period from the date when such person ceased to be a director of another bank or financial institution unless the permission is obtained from Bank of Tanzania.
11. A member of National Assembly or House of Representatives or councilor of local government authority shall not be appointed as a director of a bank or financial institution.
12. Availability of sufficient time to fully discharge his responsibilities;
13. Conviction of an offence involving fraud or dishonesty;
14. Non-involvement as a member of the management of Board in a bank or financial institution whose registration or license has been revoked or cancelled or which has gone into liquidation;
15. Absence of default record of any credit accommodation taken by him or his related parties from any bank or financial institution; and absence of bankruptcy record or suspension of payments or composition with his creditors.
16. A person has no involvement as a member of the management and/or board of directors with a banking institution whose registration or license has been revoked or cancelled or which has gone into liquidation.

Appointment of Independent Non-Executive Director

Qualification and Experience
a) Minimum Degree Holder Preferable in Accountancy, Finance Economics, Law and Business Administration.
b) Multiskilled with experience in Banking Management, preferably credit management, Finance, economic and Legal.
c) Clean credit record, including that of related parties.
d) Maximum age should be 60 yrs.

Duties and Responsibilities
As a member of the Board of Directors, the Independent Non-Executive Director will perform the following duties and responsibilities with other Board Members.
1) To determine the banks vision, mission, and values, continuously monitor and evaluate its strategy and ensure Bank of India (T) Ltd survives and thrives.
2) To govern Bank of India (T) Ltd by broad policies and objectives, as formulated and agreed with board of directors.
3) To assess the performance and effectiveness of the board as a whole and that of individual directors and board chairman
4) To oversee the risk management function within Bank of India (T) Ltd and the effective management of investor relations
5) To regularly attend board and other important meetings, corporate events and participate effectively and with commitment in board assignments.
6) To keep well-informed about Bank of India (T) Ltd matters, be well-prepared for meetings and actively participate in annual evaluation and planning activities.
7) To build a collegial working relationship with other members of the board.

Qualified and Experience candidates are requested to apply with the following:
• An Application letter detailing your suitability for the position.
• A comprehensive curriculum vitae (CV) with photograph pasted.
• Certified copies of relevant academic and professional certificates and awards.
• Certified copies of your current passport (last two Pages), if available.


Work Hours: 8

Experience in Months: 48

Level of Education: Bachelor Degree

Job application procedure
Only Shortlisted candidates will be called for personal Interview/Discussion. Upcountry candidates will be required to meet their own travel and accommodation costs for any interviews. Interested candidates are invited to send their application in hard or soft copies to:

The Managing Director
Bank of India (T) Ltd
Maktaba Street
P.O.Box 7581
Dar es Salaam
Email: Boi.Tanzania@bankofindia.co.in 

The Deadline for the Application is close of business on 5th August 2022


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