Joint Managing Director – Operations — Risk And Controls Estate

The mandate

A multinational-owned bank is entering core renewal while succeeding into a joint leadership model. Operations, controls and technology decisions are tightly connected, yet split authority can create delay or hidden gaps. The board wants a Joint Managing Director who will make the arrangement executable, preserve delivery and provide a credible bridge to the future leadership structure.

The role oversees operations and controls supporting approximately ₹59,850 crore in loans and deposits and leads about 900 employees and material partners. Scope includes service, operational controls, transformation, partners, resilience, people and governance. It reports to the Group Chief Executive and board.

Joint leadership requires a written decision architecture. Reserved matters, delegated authority, disagreement resolution and board escalation must be explicit. The appointee will not rely on personal chemistry to carry material decisions or allow committees to disguise absent ownership.

Core renewal raises operational stakes. Processes, data, entitlements and controls should be agreed before configuration. Migration waves need client impact, reconciliation, capacity, rollback and evidence gates. The MD will protect current service while removing work and systems that renewal makes obsolete.

Succession must transfer knowledge and authority deliberately. Critical relationships, regulatory commitments and tacit operational expertise need named transitions. The future model should not depend indefinitely on overlapping leaders.

Operating discipline includes one cadence for service, controls, cash, people and delivery. Variance should reach decision early, with clear alternatives and an owner.

The split model must remain credible during incidents. Both leaders should know who can invoke continuity, pause a migration wave, accept residual risk or communicate with supervisors and major clients. Deputies need the same clarity so resilience does not depend on the presence of two individuals. Service and control dashboards will use common definitions across current and future platforms, preventing each leader from selecting a favourable view. The Joint MD will test whether programme milestones reflect operating readiness, including colleague proficiency, partner capacity and backlog clearance. Client-specific exceptions should be catalogued and resolved before legacy systems retire. Any temporary control or manual bridge requires funding, an expiry date and a permanent owner. The succession bridge will also identify which governance forums, programme roles and executive overlaps should close after the target organisation proves stable, protecting the bank from institutionalising transition cost.

People and financial consequences should be reconciled to the same bridge plan. Temporary reporting lines, retention arrangements and programme allowances need explicit end conditions. Finance should validate dual-running and severance assumptions, while HR tracks whether critical knowledge has transferred. The board will receive a target date and evidence standard for ending the joint arrangement rather than allowing the model to persist through caution.

Why this seat is open

This planned replacement includes a structured incumbent handover. Four to six months are available for diligence and controlled communication while renewal continues.

What you will own

• Define joint decision rights, reserved matters and escalation.
• Steward operations across the ₹59,850 crore loan and deposit book.
• Protect service and controls through core-platform renewal.
• Govern migration, reconciliation, rollback and legacy retirement.
• Transfer relationships, knowledge and authority through succession.
• Lead 900 employees and partners with clear operating accountability.
• Build a permanent leadership and capability plan beyond the bridge.
• Give the board transparent disagreement, trade-off and delivery evidence.

The first 12 months

The first 90 days should map decisions, commitments, services, dependencies and succession risk. Meet the 30 stakeholders most consequential to split leadership, including clients, supervisors, operations, control leaders and technology. Stabilise immediate delivery, assess the team and agree board gates for renewal and authority.

Months four to nine should enact the decision model, fill leadership gaps and deliver a controlled renewal milestone. Remove duplicated forums and transfer critical relationships. The first value should appear in faster decisions, stable service, a closed control issue or capacity released.

By year end, delivery certainty, operating discipline and a credible succession bridge should be repeatable. The case must remain within 10% of baseline and forecasts should reconcile delivery, cash, customer and people assumptions across three quarters. Priority issues require independent proof; severe escalation cannot age beyond 30 days.

What the board will measure

• Decision speed and accountability under the joint model.
• Service, control and migration outcomes through renewal.
• Critical knowledge and relationships transferred successfully.
• Legacy work and forums retired as future leadership emerges.
• Retain at least nine tenths of critical operations leaders and provide ready-now cover for seven tenths of the Joint MD’s direct team.
• Quantified improvement in operating discipline with clean data ownership.

The person

You are a Joint MD, Operations President or Banking COO with 28 or more years in regulated banking. You have operated in shared leadership without allowing ambiguity to weaken delivery or control.

Your accountable book, budget, P&L or portfolio has been at least ₹34,700 crore, and you have led 900 or more people. You can evidence a major execution phase and succession whose outcomes held for two reporting periods.

You can disagree constructively, state authority plainly and transition out temporary overlap once it no longer adds value.

Compensation and terms

Fixed compensation is ₹5.0–7.5 crore plus performance variable and LTI. The permanent Gurugram appointment is onsite and can accommodate notice up to six months.

Confidentiality

The bank, incumbent and leadership design remain confidential. Published facts are deliberately blended.