SBI SO Salary 2023, In Hand Salary, Job Profile, Perks & Promotion

SBI SO Salary 2023: The State Bank of India (SBI) Specialist Officer (SO) Salary has been discussed here. The job profile of an SBI SO is the one that is one of the most coveted ones. The py scale that is offered for every job profile in SBI SO is a distinguished one that sets it apart from other Bank SO Exams. 

This article will give an idea about the SBI SO salary profile with information on allowances, perks, and other benefits.

SBI SO Salary 2023- In Hand Salary

SBI will be recruiting Specialist Officers for multiple posts. The following posts come under Middle Management Grade Scale III (MMGS III).

1. SME Credit Analyst
2. Product Manager
3. Manager (Data Analyst)
4. Manager (Digital Marketing)
5. Manager (Anytime Channel)

The salary for each of the posts is tabulated below.

SBI SO Salary: Perks and Allowances

The perks and allowances received by an SBI SO vary from post to post. However, the perks that are offered to an SBI SO is immense. Given below is the post wise perks and allowances.

1. For MMGS Grade Scale III

The official will be eligible for DA, HRA, CCA, PF, Contributory Pension Fund, LFC, Medical Facility, etc. as per rules in force from time to time.

2. Faculty, SBIL, Kolkata

In addition to CTC, other perks like Travelling Expenses (TE) for traveling by taxi, air (economy class) in case of traveling on official duties, and Deputation Allowance (DA) equivalent to the Assistant General Manager of our bank.

The selected faculty will be allowed to utilize up to a maximum of 90 days p.a in external teaching/ consulting on a revenue-sharing model. Where income generated is more than Rs 5 lacs p.a from these activities, 40% of the excess amount shall be shared with the institute (Taxes as applicable).

3. Chief Manager (Special situation Team) & Deputy Manager (Stressed Assets Marketing)

The official will be eligible for DA, HRA, CCA, PF, Contributory Pension Fund, LFC, Medical Facility, etc. as per rules in force from time to time.

4. Deputy Manager (Stressed Assets Marketing)

No perks/other benefits, other than CTC will be given. CTC compromised fixed pay and variable pay in the ratio of 80:20.

5. Executive (FI & MM) and Sr. Executive (Social Banking & CSR)

(i) Fixed pay component of 70%; (ii) Variable pay component of 30%; (iii) Annual increment – max.10% subject to fulfillment of Bank’s conditions; (iv) Travelling allowance and other perks are applicable as per Bank’s rule.

6. Deputy Manager (IS Audit)

The official will be eligible for DA, HRA, CCA, PF, Contributory Pension, LFC, Medical Facility, etc as per rules in force from time to time.

SBI SO Salary: Job Profile

The work that will be performed by each of the posts will vary. Being an SBI SO requires a candidate to work hard with a great deal of enthusiasm and knowledge. One needs to be dynamic enough to adapt to the changes in the economy. The role of each candidate according to the post as an SBI Specialist Officer is given below.

1. SME Credit Analyst

• To carry out Due diligence on credit proposals assigned
• Timely completion of Review / Renewals as Appraiser, including Credit Risk Assessment proposals
• Securing maximum marks for the AMT in Credit Audit in Pre-Sanction Assisting Relationship Manager in achieving Budgeted growth in Advances for the AMT
• Assisting Relationship Manager in achieving Budgeted growth in Other Income for the AMT
• Adhering to Turn around Time for processing New / Existing proposals
• To ensure ABS considered for the proposals are the same as filed with ROCs
• To ensure achievement of satisfactory RAROC (Risk-adjusted Return on Capital) for each unit in the AMT

2. Faculty, SBIL, Kolkata

The selected candidate will actively participate in and contribute to training activity at the institute as given below:

• To develop the leadership capabilities of the Top/ Senior Executives of the Bank/ other Banks and FIs who will be coming to SBIL for training.
• Teaching subjects in the area of his/ her domain across various programs of the institute.
• Engaging in academic administration activities as and when required by the institute.
• Identifying the training need gaps of the Top/ Senior Executives of the Bank and co-designing and co-delivering training interventions
•  Ensuring up-gradation of competence levels of participants by constantly bringing about improvements in the contents and methodology of training programs.
• Developing and imparting training programs/ workshops in various areas of leadership development.
• Setting in place training evaluation methods, seeking feedback, and initiating appropriate corrective measures where necessary on an ongoing basis.
• Ensuring smooth conduct of various workshops, conclaves, and programs at the institute.
• Ensuring that the right types of training are imparted with continuous updates and best practices in the area of their domain.
• Promoting the institute and marketing the programs of the institute in appropriate forums in the BFSI sector to build the Institute brand to achieve maximum effectiveness in training.

3. Vice President (Stressed Assets Marketing)

Liaison with the investors/consultant’s firms for showcasing the distressed assets

•  Extensive marketing and scouting for investors for the sale of the NPAs.
•  Preparation of information sheet/IM with the description of full details of assets available for sale.
•  Maintenance of list of stressed assets available across the vertical.
• Maintaining relations with the branches/sector teams/SARG Operations facilitating timely disposal of available NPA accounts.
• Negotiate with prospective investors/PE Funds/QIBs for the sale of stressed assets in a manner to maximize the realization.

4. Chief Manager (Special situation Team)

•  Restructuring /rehabilitation of Stressed assets.
• Drawing resolution plans in consultation with financial/technical consultants.
• Discussing the resolution plans with branches other members banks and sector team for finalizing a bankable resolution plan.
•  Implementation of immediate corrective action with suitable resolution strategies preventing slippage of SMA accounts into NPA category.
•  Maintaining relations with the branches/sector teams/SARG Operations facilitating restructure of stressed assets in a time-bound manner preventing deterioration in Asset value and Enterprise value.

5. Deputy Manager (Stressed Assets Marketing)

• Liaison with the investors/consultant’s firms for showcasing the distressed assets
• Extensive marketing and scouting for investors for the sale of the NPAs.
• Preparation of information sheet/IM with the description of full details of assets available for sale.
• Maintenance of list of stressed assets available across the vertical.
• Maintaining relations with the branches/sector teams/SARG Operations facilitating timely disposal of available NPA accounts.
• Negotiate with prospective investors/PE Funds/QIBs for the sale of stressed assets in a manner to maximize the realization.

6. Product Manager

•  Defining the vision for the garage and individual journeys
• Collecting the business requirements from different sources, synthesizing and communicating the same to the tech team
•  Leading the garage to design the re-imagined process and review the BRS
•  Writing requisite notes and getting approvals from relevant authorities and committees (e.g. approach note, PIC note, CPPC approval)
• Co-ordinating with stakeholders across Business units (e.g. business teams, risk, legal, compliance, IT, etc.)
• Co-ordinating with stakeholders in the tech team to ensure timely delivery of the journey
• Driving business for the developed and launched journeys by designing the strategy to drive adoption for respective journeys
• Co-ordinating with circle and region level stakeholders to implement a plan for driving adoption and business
• Creating and sharing trackers with weekly deliverables to all stakeholders to create transparency about deliverables and progress.

7. Manager (Data Analyst)

• Translating business requirements to analytics use cases and liaise with GITC stakeholders
• Collecting and interpreting data regularly for assessing success factors of key products and journeys and report it back to relevant members of the business
•  Work with Product owners for defining KPI parameters for each of the workstreams
•  Play product owner role for Analytics workstream building new journeys for cross-selling, upsell and target new customer conversion.
• Identifying patterns and trends in data sets
• Defining new data collection and analysis processes

8. Manager (Digital Marketing)

• Develop, implement, and manage marketing campaigns that promote the offers and campaigns
• Gather business requirement, share briefly with respective stakeholders, run a brand sanity check, maintain design brand and design aesthetic, get creative approval and assure timely delivery and launch
•  Enhance brand awareness and adoption across digital platforms (Internal and external)
•  Optimize the usage of digital tools and channels for optimum deliverability and campaign impact
•  Drive strategy to drive web/app traffic to further customer acquisition and engagement
•  Measure the campaign performance and improve it based on campaign output and feedback
•  Optimize content for the website and social networking channels such as Facebook, Twitter, Instagram, Google Plus, etc.
•  Create a marketing strategy across channels – OOH, Social Media, in-house properties, and create campaigns by creating the content idea, budget planning, and implementation schedules.
•  Work with different teams to ensure campaign execution and monitoring the results.
• Identify new avenues and channels for promotions of products and offers – to both targeted and non-targeted customer base.
• Propose new and improved ideas on inbound and outbound marketing campaigns

9. Senior Executive (Digital Relations)

• Customer acquisition & campaign strategies.
• Accomplish tie-ups with Merchants/ Online sellers.
• Provide Marketing Support by suggesting new creative products based on Market & Industry
  requirements.
•  Negotiating/ interacting with vendors/ technology Solution providers for a win-win situation.
• Ensuring Prompt customer service and complaint management.
• Launch marketing campaigns including those on social media and digital marketing.

10. Senior Executive (Analytics)

• Collection, organization, analysis, and dissemination of very large amounts of data with attention to
  detail and accuracy.
•  Work alongside the business/ management team to establish business needs.
•  Interpreting data and analyzing results by identifying patterns and trends in data sets.
•  Write comprehensive reports to be circulated to relevant members/ management of the business team.

11. Senior Executive (Digital Marketing)

• Providing Marketing support by suggesting new creative/ products based on market/ industry
requirements.
• Acquisition of customers.
• Increase in income as per the targets relating to digital banking.
• Proactively arranging a meeting with executives of e-Commerce players/ Aggregators/ IT vendors

12. Banking Supervisory Specialist

To Assist in Operationalisation of regulatory directives arising from RBI notifications/ regulatory directives etc. with special focus on large value credits/ KYC etc.

13. Manager – Anytime Channels

• To identify new alternate channels products and solutions in the market in line with the Bank’s overall strategy.
•  Prepare Business Requirement Documents (BRD) for development by the IT Vertical of the Bank.
•  Testing of the Solution as per the Business Requirement.
•  End-to-end management and implementation of new solutions / Projects in the Bank.
•  To assist in devising the overall Alternate Channel strategy of the Bank.
•  To drive transactions volume on the exiting alternate channel to the Bank.
• To devise strategies to increase the availability of the Bank’s alternate channels.
• Track best practices in the industry and explore solutions relevant to the Bank.
•  Manage day to day functioning of alternate channels.
• Handling regulatory and security related to Alternate Channel.
• To liaise within various departments of the Bank to ensure the smooth and timely rollout of projects.
• Manage relationships with Bank’s existing and potential partners for contracts, procurement, service levels, and overall delivery.

14. Head (Product, Investment & Research)

• Designing the Value Proposition for Wealth Management Business.
•  Responsible for Management of Research Team and Investment Team.
•  Ensure High Quality of Research Reports for Clients with Proper Coverage.
• Ensure Product Benchmarking is conducted at Quarterly intervals
• Launch of Innovative and Superior Wealth Management Products after competitive Scanning and Benchmarking.
•  Liaison with other Departments and Outside Agencies to have Best in
  Class Technology-driven Solutions

15. Central Research Team (Portfolio Analysis and Data Analytics)

The portfolio analyst would work closely with Product & Research Head and conduct performance monitoring of portfolios held by the various customers, liaison with Market data Aggregators and Research providers.

16. Central Research Team (Support)

The role will include creating and updating excel worksheets related to Macro Economy, Stock & Sector research, Fixed Income research, creating portfolio review templates, etc.

17. Investment Officer

•  Guiding clients on the range of financial services products.
• Wide-ranging experience across categories such as MF, FI, Structured Products, Discretionary Portfolios.
• Strong focus on due diligence, quantitative technique, and asset allocation.

18. Project Development Manager (Technology)

• Managing relationships with technology partners.
•  Understanding and communicating business requirements to the IT team and technology partners
•  Working closely with the Bank IT teams to ensure timely delivery of developments.
•  Co-ordinating with various Bank IT teams and business teams for new developments integrations or bug-fixes in existing Bank platforms.
• Creating and documenting operating manuals for technology interfaces at the user level.

19. Relationship Manager

• Acquiring, nurturing, growing, and strengthening relationships within the Affluent and HNI segment of clients to meet business objectives.
• Selling a range of Investment and Insurance Products to clients to meet their financial planning and thus attaining the revenue objectives of the Wealth Management business.
• Focusing on increasing the Total Relationship Value (TRV) and Assets Under Management (AUM) of clients as per the business objectives.

20. Relationship Manager (Team Lead)

• Managing a team of Relationship Managers for the Wealth Management Business.
• Acquiring, nurturing, growing, and strengthening relationships within the Affluent and HNI segment of clients to meet business objectives.
•  Selling a range of Investment and Insurance Products to these customers to meet their financial planning, objectives, and thus attaining the revenue objectives of the Wealth Management business.
• Focusing on increasing the Total Relationship Value (TRV) and Assets Under Management (AUM) of clients as per the business objectives

21. Chief Officer (Security)

• Drawing up security policies of the Bank and arranging for their reviews.
• Ensuring maintenance of the security systems in the Bank in a state of high efficiency as the head of the
  Bank’s security function.
•  Providing specialized and professional support to the Top Management in all security-related matters for
  ensuring the security and safety of the Bank’s property, customers, and staff, at all times.
• Vetting Disaster Recovery Plan for Corporate Centre Departments/ Establishments, from a security angle.
•  Enhancing security consciousness in the Bank. Formulate a policy regarding systems of security and safety
  in the Bank.
•  Any other security-related functions as entrusted by controllers.

22. Executive (FI & MM)

• Gathering market information, the survey of the area under one’s jurisdiction and assess the potential for activities such as dairy, poultry, plantation, fruits, vegetables, floriculture, fishery, Agri/ allied activities, rural housing, etc, (document and update at half-yearly intervals).
• Provide support in the preparation of the Annual Credit Plan (ACP).
• Preparation of model schemes and checklists for the compilation of application/ appraisals.
• Review and revision of existing schemes and to educate/ popularize them amongst staff and CSPs.
• Improving Bank’s share in microfinance in the District.
• Annual review of scales of finance in the area of operation.
• Sourcing & providing leads to CM (Branch Channel) in respect of new businesses such as horticulture, floriculture, tissue culture & high value/ modern farm machinery, to tap maximum potential in District.
• Canvass high-value loan proposals, undertake techno-economic evaluation, and process high-value proposals referred by branches.
• Interact frequently with Govt. departments related to Agri finance, NABARD, Agri Universities/ Research centers.
• Maintain rapport with State Govt. officials from agriculture/ animal husbandry/ fisheries & other stakeholders in the value chain.
• Maintain contacts with tractor & farm machine dealers in the area as well as at the District Headquarter for business leads.
• Assess the potential for contract farming and liaise with sugar mills, super-markets, and other stakeholders in the value chain.
• Explore possibilities for Agro Exports from the region and encourage farmers to migrate to such cultivation practices.
• Organize marketing campaign with the help of branches/ staff/ CSPs of FI & MM Network. Organize the farmer’s meet.
• Maintain liaison with village authorities. Organize village meetings for expanding Bank’s scheme for farmers and render necessary assistance/ guidance.

23. Senior Executive (Social Banking & CSR)

• Mapping of Microfinance potential in the RBO and preparation of Annual Credit Plan aligned to
and sub-serving Bank’s strategies on financial inclusion and microfinance.
• Devise strategies and promote Social Security Schemes and other Govt initiatives.
• Facilitating preparation of Branch wise business plan, potentially linked target setting for Joint Liability
Groups (JLGs), SHG’s credit linkages & evolve ways/ means to implement the plan.
• Improving Bank’s share in microfinance in the District.
• Close coordination with Farmer Producer Organisations/ Farmer Producer Cooperatives (FPO/ FPC).
• Help information of SHGs with/ without the assistance of NGOs, the opening of their SB accounts &
credit linkages.
• Building relationships/ partnerships with NGOs, MFIs & other agencies for driving microfinance
through Joint Liability Groups (JLGs) and SHG’s credit linkages.
• Engaging and building relationships with NGOs in the area and focus on social purpose
initiatives of local communities.
• Interact with the local communities and concerned govt/ non-govt agencies and devise CSR activities centering on Healthcare & Sanitation, Education, Skills & Livelihood, Women Empowerment, Sustainability, and Environment and Rural Development.
• Communicate the impact of the Bank’s programs to the local communities.
• Organise customized training at RSETI as per the requirement of NGOs operating in the area and ensuring their credit linkage/ employment.
• Ensure that the Financial Literacy Centres (FLCs) work in close coordination with NGOs &
Village Panchayats.

24. Deputy Manager (IS Audit)

• Conduct IS Audit, IS concurrent Audit, Technical Part of IS Audit using tools for VAPT.
• Recommend solutions for plugging vulnerabilities and strengthening the security posture of the Auditee Unit.
• Conduct & follow-up Compliance Audit in this regard

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