Traditionally recruitments to banks were done through tests administered by individual banks. Those pass the test had to attend an interview. While private sector banks were having their own tests, Banking Service Recruitment Board was responsible for recruitment of staff to public sector banks. Presently the banks are visiting campuses for recruiting staff. Some banks have even entered into tie ups with business schools for regular placement process. Banks provide high employment potentials and have regular recruitment process. For example, Chairman of Federal Bank recently announced that they would recruit 3000 employees by 2010. ICICI Bank has already started a joint venture with Manipal University to recruit and train people for employing in their bank. The bank had planned to recruit 1000 candidates through this campus and had also planned to set up similar ventures in other parts of the country. ICICI Bank has established similar tie ups with Delhi and Calcutta Universities for launching PGD Programmes in Banking and Insurance.
The job profile in a bank involves clerical and officer cadre. Modern banks have less dependence on clerical staff and are switching over to junior executives by introducing single window system, relationship manager, customer care executive etc. concepts. Many banks have now started constituting team of marketing executives for activating their marketing activities. Banks have front line operations as well as back office operations. Front end operations involve directly dealing with customers. The introduction of ATMs has reduced the number of customers with small value transactions visiting bank branches. The one to one transaction is now mostly done for large value transactions and corporate accounts. The back office job involves the up keep of books of accounts and records. The introduction of core banking solutions has enabled full computerization of banking transactions. Hence computer literacy has also become an essential requirement for the future bank staff.
Management students have excellent opportunities in banks. Those who are interested in taking up employment in banks need to have a fair knowledge of financial services and banking. Hence they can opt for finance as their major elective with marketing or systems as the second elective. Under the finance stream, the papers suitable for those who aspire for a banking career are Financial Services and Systems, Management of Financial Services, Banking and Insurance, Treasury and Forex Management, International Finance, Derivatives and Risk Management, Financial Institutions and Markets etc. The common practice is that a student has to opt for at least 6 papers for specializing in a particular area. Opting the systems as the minor elective will enable the students to have knowledge of computer applications so that they can work in the operational side. However, those who are interested in marketing area can choose marketing as the minor elective. Since banks are now entered into the bankassurance business, they may need executives with knowledge of insurance. Hence insurance can be another minor elective.
Another upcoming area in banking is the Risk Management. Banks have now constituted risk management departments where they may need people with specialization in risk management. Global Association of Risk Professionals (GARP) is offering a certification programme in banking risk and regulation. The examinations are conducted online and any one who holds some experience in banking can simultaneously pass this examination. (For more information please visit http://www.garp.com/)
Many of the business schools are offering papers in banking and insurance. There are institutions which offer exclusive PG Programme on Banking and Insurance. One of such institutions is National Institute of Bank Management (NIBM), Pune. This institute is constituted under the initiative of Reserve Bank of India for training bank officers. They are now offering PGD Programme in banking. Similarly ICICI Bank Manipal Academy for Banking and Insurance is offering one year PGDM in Banking and Finance. Delhi University in association with ICICI Bank is offering PGD Programme in Banking and Financial Services through nine of its affiliated colleges viz. Acharya Narendra Dev College, Bharathi College, Bhim Rao Ambedkar College, College of Vocational Studies, Shaheed Bhagat Singh College (Evening), Syama Prasad Mukerjee College, School of Open Learning, Sri Guru Gobind Singh College of Commerce and Shaheed Sukhdev College of Business Studies. ICICI Bank has said to be entering into similar arrangement with Calcutta University also. Those who pass out from the ICICI Bank Manipal Institute of Banking and Insurance would be absorbed by the ICICI Bank in the cadre of Assistant Managers. Indian Institute of Banking and Finance, Mumbai is offering one year Diploma in Bank Management which also will enable one to enter into the banking career. After joining the bank they can join for the MBA (Banking and Finance) offered by IGNOU in collaboration with the Indian Institute of Banking and Finance. Those who have completed the DBM or CAIIB of the Institute can get exemption up to four papers in the MBA Programme.
Banking sector is the upcoming area offering high employment potentialities because of the constant expansion programme which calls for additional manpower. Similarly, the industry also needs replacements due to retirement and resignation. Therefore, specialization in banking and finance has high employment potential. However, while selecting the institution the student should check the credibility of the courses offered by it with regard, internship arrangement with banks, faculty exposure to banking and insurance, previous placement records etc.
The job profile in a bank involves clerical and officer cadre. Modern banks have less dependence on clerical staff and are switching over to junior executives by introducing single window system, relationship manager, customer care executive etc. concepts. Many banks have now started constituting team of marketing executives for activating their marketing activities. Banks have front line operations as well as back office operations. Front end operations involve directly dealing with customers. The introduction of ATMs has reduced the number of customers with small value transactions visiting bank branches. The one to one transaction is now mostly done for large value transactions and corporate accounts. The back office job involves the up keep of books of accounts and records. The introduction of core banking solutions has enabled full computerization of banking transactions. Hence computer literacy has also become an essential requirement for the future bank staff.
Management students have excellent opportunities in banks. Those who are interested in taking up employment in banks need to have a fair knowledge of financial services and banking. Hence they can opt for finance as their major elective with marketing or systems as the second elective. Under the finance stream, the papers suitable for those who aspire for a banking career are Financial Services and Systems, Management of Financial Services, Banking and Insurance, Treasury and Forex Management, International Finance, Derivatives and Risk Management, Financial Institutions and Markets etc. The common practice is that a student has to opt for at least 6 papers for specializing in a particular area. Opting the systems as the minor elective will enable the students to have knowledge of computer applications so that they can work in the operational side. However, those who are interested in marketing area can choose marketing as the minor elective. Since banks are now entered into the bankassurance business, they may need executives with knowledge of insurance. Hence insurance can be another minor elective.
Another upcoming area in banking is the Risk Management. Banks have now constituted risk management departments where they may need people with specialization in risk management. Global Association of Risk Professionals (GARP) is offering a certification programme in banking risk and regulation. The examinations are conducted online and any one who holds some experience in banking can simultaneously pass this examination. (For more information please visit http://www.garp.com/)
Many of the business schools are offering papers in banking and insurance. There are institutions which offer exclusive PG Programme on Banking and Insurance. One of such institutions is National Institute of Bank Management (NIBM), Pune. This institute is constituted under the initiative of Reserve Bank of India for training bank officers. They are now offering PGD Programme in banking. Similarly ICICI Bank Manipal Academy for Banking and Insurance is offering one year PGDM in Banking and Finance. Delhi University in association with ICICI Bank is offering PGD Programme in Banking and Financial Services through nine of its affiliated colleges viz. Acharya Narendra Dev College, Bharathi College, Bhim Rao Ambedkar College, College of Vocational Studies, Shaheed Bhagat Singh College (Evening), Syama Prasad Mukerjee College, School of Open Learning, Sri Guru Gobind Singh College of Commerce and Shaheed Sukhdev College of Business Studies. ICICI Bank has said to be entering into similar arrangement with Calcutta University also. Those who pass out from the ICICI Bank Manipal Institute of Banking and Insurance would be absorbed by the ICICI Bank in the cadre of Assistant Managers. Indian Institute of Banking and Finance, Mumbai is offering one year Diploma in Bank Management which also will enable one to enter into the banking career. After joining the bank they can join for the MBA (Banking and Finance) offered by IGNOU in collaboration with the Indian Institute of Banking and Finance. Those who have completed the DBM or CAIIB of the Institute can get exemption up to four papers in the MBA Programme.
Banking sector is the upcoming area offering high employment potentialities because of the constant expansion programme which calls for additional manpower. Similarly, the industry also needs replacements due to retirement and resignation. Therefore, specialization in banking and finance has high employment potential. However, while selecting the institution the student should check the credibility of the courses offered by it with regard, internship arrangement with banks, faculty exposure to banking and insurance, previous placement records etc.
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