State Bank of India Invites Retired Officers for Concurrent Auditor Roles

State Bank of India Invites Retired Officers for Concurrent Auditor Roles – Everything You Need to Know

The State Bank of India (SBI) has announced an exciting opportunity for its retired officers to rejoin the workforce as Concurrent Auditors on a contractual basis. 

With 1194 vacancies across various circles, this engagement offers a chance for experienced professionals to contribute their expertise while earning a competitive monthly remuneration.

If you are a retired SBI or erstwhile Associate Banks (e-ABs) officer looking for an opportunity to stay engaged in the banking sector, here’s everything you need to know about this recruitment drive.

Key Details of the Engagement

Position and Department

• Position: Concurrent Auditor
• Department: Internal Audit Department (IAD), Corporate Centre, Hyderabad
• Number of Vacancies: 1194 (Circle-wise distribution in Annexure-I of the official advertisement)
• Place of Posting: Under the Chief Audit Officer (CAO) of the applied Circle

Eligibility Criteria

To be eligible for the Concurrent Auditor position, candidates must fulfill the following criteria:

1. Retirement Criteria

• The applicant should have retired from SBI or its erstwhile Associate Banks upon superannuation at the age of 60.
• Officers who have voluntarily retired, resigned, or were suspended before superannuation are not eligible.
• Officers who opted for voluntary retirement at 58 years with 30 years of service may apply, but only after they turn 60.

2. Experience and Track Record

• Officers with a background in audit, credit, or foreign exchange (forex) operations will be preferred.
• Candidates should have a good performance track record and thorough knowledge of SBI’s systems and procedures.
• They should not have faced any penalty (censure or higher) in the last five years before retirement.
• No pending CBI or law enforcement investigations should exist against the candidate.

3. Age Limit

• The engagement is for a minimum of 1 year and a maximum of 3 years, or until the officer reaches 65 years of age, whichever is earlier.
• The maximum age at the time of application should be 63 years (as of February 18, 2025).

4. Health and Residence

• Applicants should be in good health, with no major ailments.
• Officers are preferably expected to be residents of the area where they are applying to be posted.

Selection Process

The selection process involves shortlisting and an interview:

1. Shortlisting:

• Meeting the eligibility criteria does not guarantee an interview.
• A Shortlisting Committee will decide the criteria based on the number of applications received.

1. Interview:

• The interview carries 100 marks, with qualifying marks decided by the bank.
• The final merit list will be based on interview scores. If multiple candidates have the same score, age will be the deciding factor (older candidates ranked higher).

1. No TA/DA for Interview:

• Shortlisted candidates must attend the interview at their own expense.

Remuneration and Benefits

SBI offers an attractive monthly compensation for this engagement:

Retired Grade	Maximum Monthly Compensation (₹)
MMGS-III	₹45,000
SMGS-IV	₹50,000
SMGS-V	₹65,000
TEGS-VI	₹80,000

Additionally, for cluster audits (involving multiple branches), an extra ₹2000 per visit per branch will be paid.

Additional Notes:

• This compensation is independent of the officer’s pension.
• No house rent, furniture allowance, provident fund, gratuity, or perquisites will be provided.
• Income tax will be deducted at source as per government rules.

Roles & Responsibilities

As a Concurrent Auditor, the selected officers will:

• Review loan documents and ensure compliance with sanction guidelines.
• Monitor deposit accounts and verify adherence to instructions.
• Audit cash transactions, remittances, foreign exchange dealings, bill transactions, and other banking activities.
• Perform regular checks on the bank’s internal control measures.

The Internal Audit Department (IAD) will define the specific scope of work from time to time.

Service Conditions & Terms of Engagement

1. Contractual Nature

• The engagement is not an extension of service, and no pension or PF benefits are attached.
• Officers must not take up another assignment during the engagement period.

2. Leave Policy

• 30 days leave per year, with prior approval.
• If leave is denied due to administrative reasons, it can be encashed at the end of service.
• Absence beyond the eligible leave may result in salary deductions or even termination.

3. Termination Clause

• Either party may terminate the contract with a 30-day notice or one month’s remuneration in lieu of notice.
• If an officer remains absent for more than 7 days without approval, SBI can terminate the contract with immediate effect.

4. Confidentiality Agreement

• Selected officers must sign a Service Level Agreement (SLA) to maintain strict confidentiality of bank operations.

How to Apply?

Online Registration Period

📅 February 18, 2025 – March 15, 2025

Interested candidates must apply online through:
🔗 SBI Careers Page or SBI Official Website

Documents Required for Upload

Candidates must upload scanned copies of:
✅ Last 10 years’ work experience details
✅ ID Proof (Aadhar/PAN/Passport, etc.)
✅ Date of Birth Proof
✅ Copy of PPO (Pension Payment Order)
✅ Recent Photograph & Signature
✅ Caste Certificate (if applicable)

🔹 File size limits:

• Photograph: 20-50 KB
• Signature: 10-20 KB
• Documents: Max 500 KB (A4 PDF format)

⚠️ Ensure all documents are clear and readable before submission.

 

The SBI Concurrent Auditor recruitment 2025 is an excellent opportunity for retired officers to rejoin the bank in an advisory and compliance role. With competitive remuneration, flexible work arrangements, and a chance to continue contributing to SBI’s excellence, this is an opportunity worth considering.

📌 Don’t miss the application deadline – Apply before March 15, 2025!

For further details, visit:
🔗 SBI Careers

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