Is there a Job Vacancy for Chartered Accountants in Government Domain?

There are immense opportunities for a Chartered Accountant in private as well as public sectors. And talking particularly about public sectors there are several job profiles where a CA can fit in like account inspections, court appeals, representing various organizations, handling tax related issues, audits, etc. they might become the Finance Department head in public organizations, they might work as executors and trustees.

Can Chartered Accountants have a government job?

The answer to the question invariably is Yes. Chartered Accountants and especially experienced ones can get a government job along with good salary packages. 

Government organizations are at the same pace as private firms when it comes to conducting the audits, financial management and reporting, taxation issues, business recovery, insolvency, accountancy, etc. CAs can sort both financial and non-financial issues of any organization (private or public).   

Roles for a CA in a Government Organization

Numerous government banks and other public sector financial institutions are waiting to hire experienced CAs to accomplish their crucial tasks. CAs can become:

• Professionals in Public Banks or Regional Rural Banks (RRB)
• Accountants in public organizations
• Treasury Manager in Regional Rural Banks (RRB)
• Cheif Manager (Accounts and/or Finance Departments)
• Assistant Administrative Officer (CA)

Several government organizations are recruiting talented CAs every year. Such institutions are:

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Public Sector Banks

Qualified and experienced CAs are welcomed to give interviews in government and semi-government banks, state bank of India, the central bank, PNB, RBI and at a bigger level even World Banks give chances to Chartered Accountants to get associated with them. 

Apart from CA certification, candidate willing to apply for public sector banks needs to give IBPS or SBI Exams (for state banks) and they can be posted as:

• Financial Analysts
• Branch Manager
• Loans and Advances Head
• Credit Management department
• Auditor

For dedicated CAs there are opportunities to grow as AGM, Zonal Head or more than that in the government sector. 

NRHM (National Rural Health Mission)

The scheme initiated by Hon’ble Prime Minister on 12 April 2005, NRHM- National Rural Health Mission is dedicated to providing quality healthcare facilities to rural people. NHRM is the sub-section of the National Health Mission (NHM) and it has another sub-section NUHM National Urban Health Mission stressing on quality healthcare of the urban population. 

CAs can apply for various positions in NRHM. along with the degree of CA, they need to go through an examination and/or interview that will judge them for their qualities. Questions that are asked in the technical round are different based on the position you are applying for. 

GAIL (India) Limited

The GAIL is one of the well-reputed state-owned natural gas processing and distribution companies in India. It is the best organization that has various posts for the chartered accountant. To stay up-to-date with the vacancies, make sure to visit the official website on a regular basis.

Metro Rail Corporation LTD

CAs can also take up jobs in Metro Rail Corporation LTD. the biggest organization for metros and is owned and managed by the government. MRC every year comes up with vacancies for which CAs are suitable and can apply for. Vacancies are for both state and center level posts. CAs can apply for the posts suitable for his/her qualification.

UPSC (Union Public Service Commission)

Union Public Service Commission or UPSC is another government domain where CAs can apply for several ministerial posts. CAs applying for the posts shall clear the examinations and then the Personal Interview following which they will be able to achieve the posts directly under the Central Government.

UPSC conducts exams like Civil Services, Engineering Services, Combined Defence Services (CDS), National Defence Academy, Naval Academy, Combined Medical Services (CMS), Special Class Railway Apprentice (SCRA), Indian Economic Service (IES) / Indian Statistical Service Examination (ISS), Combined Geoscientists & Geologists, and Central Armed Police Forces (Assistant Commandant) Examination.

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LIC (Life Insurance Corporation of India)

LIC is another opportunity in the government-oriented sector for CAs. LIC doesn’t end with LIC agents selling policies. It is a more diversified structure. CAs can apply for jobs in the finance department for LIC. Every year several job vacancies are posted on the official site of LIC.

Qualifying Parameters

Scale-II Specialist Officers

• For Chartered Accountant (PSB/ RRB) – CA Final&nbsp
• Treasury Manager (RRB) – CA or MBA in finance

Scale – III Specialist Officers – degree in any field from a government recognized university or minimum 50% marks in total. Preference will be given to students with a degree or diploma in Banking, Finance, Accountancy, Agriculture, Agricultural Marketing and Co-operation, Economics, Pisciculture, Information Technology, Horticulture, Management, Forestry, Marketing, Animal Husbandry, Pisciculture, Information Technology, Law.

To be noted: Selection will be done based on the marks attained in the online tests.

Chartered Accountant – Salaries in India

Salaries for CAs in the government domain lets say a bank – Salaries for Scale II and Scale III officers are different.

OR

A talented and experienced CA can even start his/her own consultancy and build up his/her own client base. Depending on which he/she can earn. 

CA has doors open in all the sectors whether it is a government job or a renowned private firm. The post is not just about numbers, accounts or calculations, it is dedicated to important decision making in a company, helps in risk management, helps in strategy making depending on the market situation and so on. 

Top Opportunities for CAs

• Public Limited Companies 
• Public/Private Banks 
• Financial Firms
• MF Houses
• Stock Broking Firms
• Legal firms, 
• Patent Firms
• Auditing Firms 

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Additional Degrees that will lead you to more vibrant opportunities (+CA Degree)

CA certificate itself is a big deal but if one wishes to add on another specialization (along with CA certificate) in his/her curriculum vitae then here is the list of additional fields that will fetch you high-salaried jobs.

Let’s dig into the opportunities you can grab after you have completed your CA:

Post Graduation Courses for CAs – by ICAI

• CFA (Chartered Financial Analyst)
• DISA (Diploma in Information System Audit)
• CIA (Certified Internal Auditor)
• ACCA (Association of Chartered Certified Accountants)
• CISA (Certified Information System Auditor)

Other Courses (Post CA)

• Tax Management Course
• Information System Audit
• Management Accountancy Course
• Diploma in Insurance and Risk Management
• Corporate Management Course
• ERP Courses on SAP FA and MA module
• International Trade Laws and World Trade Organization
• Certificate courses in

Members

Corporatives

Non-profit organizations 

Indirect tax 

Enterprise Risk Management

Concurrent Audit Books

Forensic Accounting and Fraud Detection

Derivatives

Valuations

International Taxation

Internal Audits

Arbitration

Forex and Treasury Management

Mentioned above are some of the additional expertise you can attain once you have achieved your CA degree. This will be an add on to your CV and will lead you to much better career opportunities. 

Prominent among all the combinations, MBA + CA is the preferred choice for any company.  

There are immense opportunities along with CA that will enhance your CV but you need to first assure your way and accordingly opt for the ideal course you want to pursue. 

Mentioned below are other combinations with a CA degree:

1. CA+FRM or CFA- This opens opportunities for recruitment in Investment banking, portfolio investment & the fields that deal with capital markets. 
2. CA+ MBA (from top universities) – It is highly beneficial if you wish to have a startup or any head position in MNC. 
3. CA+CS- To become a self-practicing professional or deal in certain special cases. 
4. CA+ CMA – much related to valuations.
5. CA+CPA – Abroad Jobs.

Vacancy for CA in Union Bank of India

The Union Bank of India, has invited professionals to apply for the post of Chief Financial Officer (CFO). It is mandatory for the professionals applying for the post to have a degree of Chartered Accountant and an aggregate working experience of at least 15 yrs (Accounting and Taxation preferred) in banks, large scale corporates, PSUs, etc. but should have at least 10 yrs (out of 15 yrs) experience in banks and other financial institutions and should have a  5 yrs (out of 10 yrs with bank) of experience at the Senior Management Level. The maximum age of the applying candidate can not be more than 55 yrs as on 1st March 2020. The personnel will be selected on the base of eligibility, experience, and performance evaluated on the base of personal interaction and interview.

The last date to apply for the post is 20 April 2020. The applicants can easily apply for the post through the official website of the bank under the ‘Recruitment’ tab. The recruitment is issued on a contractual basis. The applicants are required to download the form and fill it properly in block letters. The applicants are required to pay the challan fees of Rs. 1,000 in cash by visiting the nearest Union Bank of India branch. The applicant should attach passport size photos with the form cross-signed. The documents and application form should be sent by the individual to the recruitment mail of the bank.

The contract of the post states that the CFO will be working for a period of 3 yrs based on the performance review conducted annually. The bank has the power to terminate the employment by issuing a month’s notice to the candidate. He will be paid in full for the notice period. The candidate can also leave the post after giving a month’s notice to the bank or by remunerating the bank by one month’s salary as an alternative for the notice. All types of job requirements required to be undertaken by the CFO are detailed in the contract and can be read by the applicants through the notification of the job.

Conclusion

A few years ago the government introduced a new Insolvency and Bankruptcy Code 2016 which provided a huge opportunity for more Government jobs for CA. One should go to the site of ICAI and the IBC Act to know more about the eligibility criteria to apply for the job.

In the end, we would like to sum up by saying that not only the private sector but the government sector also provides a wide range of opportunities to a qualified chartered accountant.