Sebi invites applications for executive director

New Delhi: Markets watchdog Sebi has begun the process of recruiting an executive director for faster and more effective execution of regulatory work.

The appointment of executive director will either be on deputation or contractual basis, for a period of three years, the regulator said in a latest public notice.

For this, the Securities and Exchange Board of India (Sebi) has invited applications. The last date for receiving the applications is March 11, 2022.

The candidate should have at least 20 years of post qualification experience in dealing with problems related to securities market or special knowledge or experience of law, investigation, finance, economics and accountancy, among others.

Currently, Sebi has nine executive directors -- Nagendraa Parakh, Amarjeet Singh, Sujit Prasad, Anand R Baiwar, S Ravindran, S V Murali Dhar Rao, VS Sundaresan, G Babita Rayudu and Girraj Prasad Garg, according to the regulator's website.

In January, Sebi tweaked the rules pertaining to the filing up of the posts of executive director at the regulator.

Under the new rules, two-third of the total posts for executive directors will be filled up with internal candidates and the remaining one-third, not more than three, will be filled up by deputation or on contract basis.

Earlier, 50 per cent of the total posts of executive directors were required to be filled up with internal candidates and the remaining 50 per cent were to be recruited by deputation/contract and/or direct recruitment.

The capital markets regulator, last month, began a recruitment drive and invited applications for 120 senior-level executives as part of its plan to beef up its head count for faster and more effective execution of its role.

Sebi plans to recruit legal as well as IT experts, researchers, and other officials for general administration. In March 2020, the regulator had invited applications for the recruitment of 147 senior-level officials and around 1.4 lakh people applied for these positions.