Report On Expert Lecture “Future Prospects of MBAs in the Banking Sector”
Expert Lecture “Future Prospects of MBAs in the Banking Sector”
An Expert Lecture on “Future Prospects of MBAs in the Banking Sector” was conducted by the School of Management on 18 January, 2019. The speaker for the session was Mr. Vipin Arora, Program Head, CSM and KAM Channel IndusInd Bank (Gurugram). He is an MBA in marketing and has also worked as a HR Consultant in companies of repute. He is currently employed at IndusInd Bank. IndusInd Bank is one of the leading banks of today. It has several USPs. The customers get the facility of choosing their own account number which no other bank provides.
Mr. Arora began his lecture with emphasizing students to find the focus of their life so that students channelize their efforts and energy towards achieving that focus. He advised students to excel in any field of their choice to be a SMEs (Subject Matter Experts) for that particular field.
He briefed the students about the nitty-gritties of entering the Retail banking field at IndusInd Bank. To start a career in Retail banking the initial step is to become a Business Development Manager (BDM). The profile of a BDM was discussed with the audience. He explained it being a field job, which involves interacting with many customers on a daily basis.
The next profile in the hierarchy of Indus Ind is that of a Service Delivery Manager (SDM). It involves the task of mapping the customers, segmenting them and providing the required services to them. Mr.Arora made the students aware of the latest and upcoming services of the bank. He explained to the students that if they want to make a career in Retail Banking they need to work as SME with a clear understanding of the basics of the working of a Bank. It was highlighted that the candidates must possess good communication skills.
The next level discussed was that of a Relationship Manager (RM). A relationship banking associate reports to a bank officer in an area dedicated to customer service. He assists the officer in meetings with customers about new services. He could accompany the officer on sales calls outside the bank, thereby learning how to identify a customer’s needs and make appropriate suggestions for available services. While at the associate level, he would normally assist customers with transactions and provide information as requested. Management of the bank expects a relationship banking associate to become familiar with the bank’s main functions — for example, credit, deposit and investment products — and matters of regulatory compliance. He should learn how to be effective in cross-selling the bank’s products and services to customers. He would be responsible for expanding his understanding of how the bank works in order to make good suggestions for fulfilling customers’ needs.
His words of enlightenment paved way for the students to enter the Retail Banking sector. The students undoubtedly stand benefited by this lecture.