Company: Confidential listed cash-management and ATM-services company
Board base: Mumbai, Maharashtra, with operating reviews in Chennai and regional hubs
Sector: Cash logistics, ATM managed services and secure field operations
Appointment: Independent Director, Non-Executive
Intended committees: Audit & Risk Committee Chair; member, Technology Committee
Time commitment: 30–38 days annually, including vault and route-control reviews
Application deadline: 30 September 2026
Expected appointment: December 2026
Company context
The company provides cash-in-transit, ATM replenishment, vaulting, cash processing, retail cash pickup and managed ATM services to banks, financial institutions and large merchants. It operates through secure branches, route fleets, custodians, technology platforms and subcontracted infrastructure across India. Economics depend on route density, service levels, insurance, cash shortages, labour, fuel and contract pricing.
Market hint: A national ATM and retail-cash footprint, bank concentration, secure vault network and increasing managed-services revenue may suggest several listed or sponsor-backed operators. Customer and promoter identities are withheld.
Board mandate
The director will make custody assurance, fraud prevention, workforce integrity, technology and contract economics visible as one critical-infrastructure system.
Strategic priorities
- Map every custody transfer from bank or merchant through vehicle, custodian, vault, cassette, ATM or branch and final reconciliation.
- Set controls for dual custody, route authorisation, seals, keys, cassettes, biometric access, surveillance, counting, shortage and investigation.
- Require daily ageing of unreconciled cash, ATM differences, customer claims, suspense balances, insurance recoveries and employee advances.
- Govern route and vault safety covering armed crime, vehicle accident, fatigue, civil disruption, fire, cash-room access and emergency communication.
- Review employee and subcontractor screening, rotation, leave, collusion indicators, whistle-blowing, wage compliance and supervisor spans.
- Test ATM monitoring, switch integration, remote access, software updates, incident recovery and cyber-to-physical attack scenarios.
- Re-underwrite bank and merchant contracts for service levels, penalties, liability caps, insurance, fuel/labour escalation, volume and termination.
- Examine route profitability after distance, idle time, security, cash volume, penalty, shortage, maintenance and branch overhead.
- Govern insurance through limits, deductibles, exclusions, incident evidence, concentration and insurer solvency.
- Stage-gate acquisitions and branch expansion through licence, custody, people, technology, route density and integration risk.
Decisions expected at Board level
- Whether operations should pause after a custody or surveillance control failure.
- Whether a major customer contract compensates for liability and penalty exposure.
- Whether repeated shortages indicate local fraud or a systemic process weakness.
- Whether subcontracting is compatible with custody and workforce standards.
- Whether a cyber event requires ATM isolation and customer notification.
Candidate profile
Essential: Former banking operations, payments, cash logistics, security services, ATM, critical infrastructure or regulated field-services CEO/COO/CRO/CFO, audit leader or Board director; custody, fraud, workforce and technology-resilience experience.
Preferred: bank outsourcing, insurance claims, secure transport, cyber-physical incidents, forensic investigations, Audit/Risk chairing.
Eligibility and conflicts
Active IICA Databank inclusion and test/exemption evidence are mandatory. Candidates must disclose bank, ATM vendor, security company, insurer, subcontractor, technology, transport, auditor, law-enforcement and competitor relationships.
First-year outcomes
- Daily custody and reconciliation assurance across cash journeys.
- Tested vault, route and cyber-physical incident response.
- Contract and route profitability reflecting full risk cost.
- Stronger employee/subcontractor integrity controls.
- Board visibility of shortages, claims and remediation without delay.