An Ocean Of Wisdom About Banking

Says A. Meenakshi, Head Operations, ING Vysya Bank: I love processes and I love people. Being a banker gives me an opportunity for both. Every process that my team and I design and put into practice and evolve to perfection gives me joy. Every process that we improve and make more efficient in terms of delivery to the customer or cost efficient gets me excited. The fact that there is never a stage where there is nothing more to be done and there is always scope for improvement is what keeps me going.

Principles Remain The Same

When I finished schooling 40 years back India was not what it is today. The need of the hour at that time was a good education as it paved ones way to a good job and growth within. Changing jobs was not the order of the day. Banking was considered one of the most prestigious & respectable jobs and therefore by default it was looked at as a preferred option, especially by girls/women. This got firmed up as I had chosen Commerce as my subject and it covered Accountancy & Banking as key subjects. There was no preference of a specialization within banking. The specializations have evolved in the last 12 years or so. However, when I did start working, I did recognise two things which made me happy - one, to get into details of anything new that came my way and to implement it to perfection; second, to ensure customer delight through impeccable service. To put it differently, both need an eye for detail, an orientation towards processes and a methodical/meticulous approach to anything that gets done. In over three decades that I have worked, these basic tenets of success in the banking industry still remain unchanged.

What To Expect?

Some realities one needs to recognise about banking. Banking operations are getting centralized. The international banks and Indian private banks have already centralized their operations. Others are following in their footsteps by selectively using the model for specific areas of work. As a result, for a banker there is no or very little interaction with the final customer whom they are serving. You work with paper/scanned images along with your team on computers using various applications. It could get monotonous, unless you have the inclination for this. This role can be described as akin to a production floor in a manufacturing industry. You will therefore have times when you have less work than you can handle and vice versa. But, since the final customer should never ever get affected, there would be demands on your own time during peak volumes, which could be seasonal, or will fluctuate alongside month end/quarter end/year end targets etc., There would be demands on your time; however, there is enough scope to understand patterns of workflow and plan your work as well.

Becoming A Banker

You can enter a Bank as a graduate. As a post graduate in Management you would receive a distinct added advantage. Subject stream preferred from an ease of work is commerce/science. If you are choosing a career in a particular stream, it would be relevant to take up internship as close to the chosen path as possible. for instance, if you have a flair for sales, you should ideally choose your internship accordingly - say, a survey on customers on their preferences/service levels etc., Such internships also help validate your perceptions about a job role and helps in making the right choice.

Operations is an integrated part of any financial industry - the scope therefore is wide. You have options of Banks/insurance/telecom and other BPOs that do processing for the globe. At the entry level it is not necessary that one needs to enter a Bank in itself; but, if you are keen on being in a bank, it is necessary to make a shift in the early years of your career.

Finally, with the exception of professional courses like medical/law etc., where the options get predominantly narrowed down at a Graduation stage, the choice is much wider for the rest. There you are at an advantage, since your options are wider. Thus, there is no need for someone choosing a banking career, to make a perfect decision at the time of joining that he/she wants to make a career in operations. Flexibility to learn / try / experiment will give you an advantage to get clarity on your understandings, your own strengths etc., Similarly, once on to your job, never hesitate to get out of your "comfort zone" and always be willing to move into new areas and learn. Acquiring knowledge is a permanent friend. Never lose an opportunity to learn more and that will take you places. All the best!

Meenakshi's Education And Career Path

B. Com., St. Joseph's College of Commerce, Bangalore University; 1977
M.Com., Bangalore University; 1979
C.A. IIB , 1982
Bank of Baroda: 1979-1997: Joined as Probationary officer; held positions of Joint Manager / Manager / Senior Manager as second-in- command or as head of the branch across small - medium-large branches
HDFC Bank: 1997-1998: Branch Head, Bangalore Branch
ICICI Bank: 1999-2008: Head, Regional Processing Centre (RPC), Bangalore / Regional Head for RPC, South; Country Head, RPCs; Zonal Head, South, RPC & ICMC (Currency Management Centres)
ING Vysya Bank: 2008 till date: Head, Retail Deposit & Investment Operations; Head-Centralised Operations

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