Public Sector Undertaking (PSU) banks play a significant role in the Indian economy. These banks are owned and controlled by the government and are responsible for providing financial services to various sectors of the economy, including agriculture, industry, and services.
In this article, we will discuss the roles, designations, and functions of various employees working in PSU banks.
Roles and Designations in PSU Banks
- Chief Executive Officer (CEO)
The CEO is the top executive of the bank and is responsible for the overall management and performance of the bank. The CEO is accountable to the Board of Directors and is responsible for implementing the policies and decisions of the Board.
The CEO sets the strategic direction of the bank, oversees the operations of the bank, and ensures that the bank is in compliance with all regulatory requirements. The CEO also represents the bank in various forums and engages with stakeholders to promote the interests of the bank.
- Chief Operating Officer (COO)
The COO is responsible for the day-to-day operations of the bank and ensures that the bank is operating efficiently and effectively. The COO oversees various departments, including operations, technology, and human resources, and ensures that these departments are aligned with the bank’s strategic objectives.
The COO works closely with the CEO to develop and implement policies and strategies that promote the growth and development of the bank. The COO also manages the bank’s risk and compliance functions and ensures that the bank is in compliance with all regulatory requirements.
- Chief Financial Officer (CFO)
The CFO is responsible for the financial management of the bank and is accountable for the accuracy and integrity of the bank’s financial statements. The CFO oversees various departments, including finance, accounting, and treasury, and ensures that these departments are operating efficiently and effectively.
The CFO works closely with the CEO and the Board of Directors to develop and implement financial strategies that promote the growth and development of the bank. The CFO also manages the bank’s capital and liquidity, ensuring that the bank has sufficient capital to meet its obligations and support its growth objectives.
- Chief Risk Officer (CRO)
The CRO is responsible for managing the bank’s risk and compliance functions and ensures that the bank is operating in compliance with all regulatory requirements. The CRO oversees various departments, including risk management, compliance, and audit, and ensures that these departments are operating efficiently and effectively.
The CRO works closely with the CEO and the Board of Directors to develop and implement risk management strategies that promote the growth and development of the bank. The CRO also manages the bank’s exposure to various types of risks, including credit risk, market risk, and operational risk, and ensures that the bank has adequate controls in place to manage these risks.
- General Manager (GM)
The General Manager is responsible for managing various departments and functions within the bank. The GM oversees the day-to-day operations of these departments, ensures that they are aligned with the bank’s strategic objectives, and provides guidance and support to the department heads.
The GM also plays a critical role in developing and implementing policies and strategies that promote the growth and development of the bank. The GM works closely with the senior management team and the Board of Directors to ensure that the bank is operating in compliance with all regulatory requirements.
- Deputy General Manager (DGM)
The Deputy General Manager is responsible for managing a specific department or function within the bank. The DGM oversees the day-to-day operations of the department, ensures that it is aligned with the bank’s strategic objectives, and provides guidance and support to the team members.
The DGM also plays a critical role in developing and implementing policies and strategies that promote the growth and development of the bank. The DGM works closely with the GM and the senior management team to ensure that the bank is operating in compliance with all regulatory.
- Assistant General Manager (AGM)
The Assistant General Manager is responsible for managing a specific area within a department or function of the bank. The AGM works closely with the DGM and the team members to ensure that the area is operating efficiently and effectively.
The AGM also plays a critical role in developing and implementing policies and strategies that promote the growth and development of the bank. The AGM works closely with the senior management team to ensure that the bank is operating in compliance with all regulatory requirements.
- Chief Manager
The Chief Manager is responsible for managing a specific department or function within the bank. The Chief Manager oversees the day-to-day operations of the department, ensures that it is aligned with the bank’s strategic objectives, and provides guidance and support to the team members.
The Chief Manager also plays a critical role in developing and implementing policies and strategies that promote the growth and development of the bank. The Chief Manager works closely with the AGM and the senior management team to ensure that the bank is operating in compliance with all regulatory requirements.
- Senior Manager
The Senior Manager is responsible for managing a specific area within a department or function of the bank. The Senior Manager works closely with the Chief Manager and the team members to ensure that the area is operating efficiently and effectively.
The Senior Manager also plays a critical role in developing and implementing policies and strategies that promote the growth and development of the bank. The Senior Manager works closely with the senior management team to ensure that the bank is operating in compliance with all regulatory requirements.
- Manager
The Manager is responsible for managing a specific team within a department or function of the bank. The Manager oversees the day-to-day operations of the team, ensures that it is aligned with the bank’s strategic objectives, and provides guidance and support to the team members.
The Manager also plays a critical role in developing and implementing policies and strategies that promote the growth and development of the bank. The Manager works closely with the senior management team to ensure that the bank is operating in compliance with all regulatory requirements.
- Officer
The Officer is responsible for performing various tasks within a department or function of the bank. The Officer works closely with the Manager and the team members to ensure that the tasks are completed efficiently and effectively.
The Officer also plays a critical role in supporting the development and implementation of policies and strategies that promote the growth and development of the bank. The Officer works closely with the senior management team to ensure that the bank is operating in compliance with all regulatory requirements.
Functions of Employees in PSU Banks
- Credit and Risk Assessment
Employees in this function are responsible for evaluating the creditworthiness of borrowers and determining the level of risk associated with lending to them. They analyze financial statements, credit reports, and other data to assess the borrower’s ability to repay the loan.
Credit and risk assessment employees also develop and implement policies and strategies to manage the bank’s exposure to credit risk. They work closely with the risk management function to ensure that the bank is operating in compliance with all regulatory requirements.
- Operations and Technology
Employees in this function are responsible for ensuring that the bank’s operations and technology are functioning efficiently and effectively. They develop and implement policies and procedures to ensure that the bank is operating in compliance with all regulatory requirements.
Operations and technology employees also oversee the implementation of new technology solutions and the maintenance of existing technology systems. They work closely with the risk management function to ensure that the bank’s technology systems are secure and protected from cyber threats.
- Human Resources
Employees in this function are responsible for managing the bank’s human resources, including recruitment, training, and performance management. They develop and implement policies and procedures to ensure that the bank’s employees are performing their duties effectively and efficiently.
Human resources employees also ensure that the bank is complying with all labor laws and
regulations. They work closely with the senior management team to ensure that the bank has the right talent and resources to achieve its strategic objectives.
- Marketing and Sales
Employees in this function are responsible for promoting the bank’s products and services and acquiring new customers. They develop and implement marketing strategies to attract and retain customers and increase the bank’s market share.
Marketing and sales employees also work closely with other functions of the bank to ensure that the bank’s products and services meet the needs of its customers. They monitor customer feedback and make recommendations to the senior management team on how to improve the bank’s products and services.
- Treasury and Investment
Employees in this function are responsible for managing the bank’s treasury operations and investment portfolio. They monitor market trends and economic indicators to identify opportunities for investment and develop strategies to manage the bank’s exposure to financial risks.
Treasury and investment employees also work closely with the risk management function to ensure that the bank’s investment activities are compliant with all regulatory requirements. They make recommendations to the senior management team on investment strategies and tactics.
- Risk Management
Employees in this function are responsible for identifying and managing risks that could impact the bank’s financial performance or reputation. They develop and implement policies and procedures to manage credit, market, operational, and other risks.
Risk management employees also monitor regulatory developments and ensure that the bank is operating in compliance with all regulatory requirements. They work closely with other functions of the bank to identify and mitigate risks and make recommendations to the senior management team on risk management strategies.
- Compliance
Employees in this function are responsible for ensuring that the bank is operating in compliance with all applicable laws and regulations. They develop and implement policies and procedures to ensure that the bank is complying with anti-money laundering, know your customer, and other regulatory requirements.
Compliance employees also work closely with other functions of the bank to ensure that the bank’s activities are compliant with all regulatory requirements. They monitor regulatory developments and make recommendations to the senior management team on compliance strategies.
Conclusion
PSU banks play a critical role in the economic development of India. They provide essential financial services to individuals and businesses and contribute to the growth and stability of the economy. To achieve their strategic objectives, PSU banks require a diverse range of employees with different skills and expertise.
The roles and designations of employees in PSU banks are designed to reflect the hierarchy and structure of the organization. Each role has specific responsibilities and functions that contribute to the overall success of the bank. Employees in PSU banks perform a range of functions, from credit and risk assessment to compliance and marketing and sales.
The success of PSU banks depends on the quality of their employees and the effectiveness of their policies and strategies. PSU banks must continue to invest in the development of their employees and the implementation of best practices to ensure that they remain competitive and compliant with regulatory requirements.
Piyush Mishra 
Paresh Borah