Canbank Venture Capital Fund Ltd, a 100% subsidiary of Canara Bank and one of the oldest VC funding institutions of India, is currently inviting applications from eligible Indian Citizens for the following positions: Asst.Vice President (AVP) (Investments) and Project Manager (PM) (Accounts). In this article, we will discuss the job description, eligibility criteria, and other important details about these positions.
Table of Contents
- Introduction
- Job Description/Post Code
- No of Vacancies
- Last Date of receipt of Application
- Place of Posting
- Eligibility Criteria
- Asst. Vice President (Investment): (Post Code – I)
- Project Manager (Accounts): (Post Code – II)
- Conclusion
- FAQs
Job Description/Post Code
The Asst.Vice President (AVP) (Investments) position is assigned Post Code – I, while the Project Manager (PM) (Accounts) position is assigned Post Code – II. The AVP position requires the candidate to manage investments, while the PM position requires the candidate to manage accounts.
No of Vacancies
Canbank Venture Capital Fund Ltd has only one vacancy for each position: AVP and PM.
Last Date of receipt of Application
The last date to submit an application for these positions is 10.04.2023 by 5.00 pm.
Place of Posting
The place of posting for both positions is Bengaluru City.
Eligibility Criteria
The eligibility criteria for both positions are as follows:
Asst. Vice President (Investment): (Post Code – I)
- Age: Not exceeding 30 years as on 31.01.2023
- Qualification: BE/ B.Tech/ MBA (finance)/ CA/ ICWA (CMA)
- Computer Proficiency is a must.
- Experience: Work experience of minimum Three (3) years in Venture Capital/ Private Equity Industry.
Project Manager (Accounts): (Post Code – II)
- Age: Not exceeding 30 years as on 31.01.2023
- Qualification: CA/B Com or M.com with MBA (Finance)/ ICWA (CMA)
- Computer Proficiency is a must.
- Experience: Work experience with at least one year in handling Accounts/finance in Venture Capital/Private Equity Industry or Any Organization.
Job Profile
Asst. Vice President (Investment)
As an Asst. Vice President (Investment) at CVCFL, the candidate will be responsible for:
- Identifying and scrutinizing potential investment opportunities
- Conducting due diligence on potential investments
- Assisting in the closure of investment deals
- Managing the finance and accounts of the company and its funds
- Follow-up on existing and new portfolio investments
- Conducting periodic reviews and attending investee company board meetings
- Responding to investor queries and correspondence
- Providing periodic updates to the committee, trustees, and board of directors
Project Manager (Accounts)
As a Project Manager (Accounts) at CVCFL, the candidate will be responsible for:
- Handling the accounts of the company
- Reconciliation and preparation of balance sheets for the company and its funds
- Managing all types of audit works
- Filing monthly, quarterly, half-yearly, and annual statutory tax returns
- Submission of holding statements to contributors
- Ensuring compliance with all tax matters, provident fund, GST, profession tax, advance tax, ROC-related work
- Preparation of notes for board and AGM for the company and notes for management committee meetings for funds
Compensation
CVCFL offers competitive compensation packages for both positions:
Asst. Vice President (Investment)
The candidate can expect a CTC (cost to company) of Rs 8.50 Lacs to Rs 10.50 lacs p.a (approx), which includes:
- Scale of Pay: Rs. 38500 = 4000/10 = 78500
- Variable pay: 10% of basic pay
- House Rent Allowance (HRA): Rs. 12000
- City Compensatory Allowance (CCA): Rs. 5000
- Conveyance: Rs. 3000
- Other perquisites as per company rules
Project Manager (Accounts)
The candidate can expect a CTC of Rs 7.00 Lacs to Rs 9.00 lacs p.a (approx), which includes:
- Scale of Pay: Rs. 33000 = 3000/10 = 63000
- Variable pay: 10% of basic pay
- House Rent Allowance (HRA): Rs. 8000
- City Compensatory Allowance (CCA): Rs. 700
- Conveyance: Rs. 3000
- Other perquisites as per company rules
Application Process
To apply for either position, interested candidates must:
- Submit the hard copy of the completed application along with a Demand Draft for Rs 1000/- in favor of “Canbank Venture Capital Fund Ltd” drawn on Bangalore by courier/registered post/speed post.
- Ensure that the application and demand draft reach the following address on or before 10.04.2023 by 5 pm:
The Managing Director Canbank Venture Capital Fund Ltd 29, 2nd Floor, Dwarakanath Bhavan K R Road, Basavanagudi Bengaluru-560 004
Shortlisting of Candidates
CVCFL receives numerous applications for different job roles. The selection process starts with the screening of resumes and applications. The HR team carefully reviews each application and shortlists candidates based on their qualifications, experience, and other criteria.
Interview Venue
The interview for shortlisted candidates takes place at the Registered Office of CVCFL, located in Bengaluru, India. The interview venue is easily accessible by public transportation and is located in the heart of the city.
Intimation to the Candidates
Once the HR team shortlists the candidates, they send an intimation letter through email or call. The letter contains information about the date, time, and venue of the interview. The candidates are required to confirm their availability for the interview through email or phone call.
5. Cost of Attending the Interview
The candidates are required to bear the cost of attending the interview themselves. CVCFL does not reimburse any expenses incurred by the candidates in this regard, either in part or in full.
Probation Period
All selected candidates have to undergo a probation period of one year. During this period, the company assesses the candidate’s performance and suitability for the role. If the conduct or performance of the candidate is unsatisfactory during the probation period, the company reserves the right to terminate their services without assigning any reason.
Absorption as a Permanent Employee
Upon successful completion of the probation period, the selected candidate will be absorbed as a permanent employee of the company. The candidate will be subjected to the CVCFL Staff Regulations 1999, as amended from time to time.
Termination of Services
If the conduct or performance of the candidate is not satisfactory during the probation period, the company may terminate their services without assigning any reason.
CVCFL Staff Regulations
All employees of CVCFL are subject to the CVCFL Staff Regulations 1999, as amended from time to time. The regulations cover various aspects of employment, including job responsibilities, leave policy, benefits, and compensation.
Benefits for Employees
All employees of CVCFL are entitled to various benefits, including medical insurance, life insurance, and retirement benefits. The company also provides opportunities for career growth and development.
Conclusion
Canbank Venture Capital Fund Ltd is inviting applications for the Asst.Vice President (AVP) (Investments) and Project Manager (PM) (Accounts) positions. The last date to submit an application is 10.04.2023 by 5.00 pm. The eligibility criteria for both positions have been clearly defined.
FAQs
- What is Canbank Venture Capital Fund Ltd?
Canbank Venture Capital Fund Ltd is a 100% subsidiary of Canara Bank and one of the oldest VC funding institutions of India. - What positions are currently open for applications?
Canbank Venture Capital Fund Ltd is currently inviting applications for the positions of Asst.Vice President (AVP) (Investments) and Project Manager (PM) (Accounts). - How many vacancies are there for each position?
There is only one vacancy for each position: AVP and PM. - What is the eligibility criteria for the AVP position?
The eligibility criteria for the AVP position include a maximum age limit of 30 years, BE/ B.Tech/ MBA (finance)/ CA/ ICWA (CMA) qualification, minimum 3 years of work experience in Venture Capital/ Private Equity Industry, and computer proficiency.
