Traditionally
recruitments to banks were done through tests administered by individual banks.
Those who 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. Now IBPS is conducting common test for public sector banks. Some of 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,
Corporation Bank has announced 1500 vacancies. ICICI Bank has already started a joint venture with Manipal University Delhi Calcutta Universities
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. Many banks have now started constituting team of marketing executives for
activating their marketing functions. 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 bancassurance 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 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 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
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.
