Eyeing CAs, MBAs, lawyers to stay ahead of competition
We have been recruiting people with professional qualifications for better operational efficiency and customer satisfaction, says the Corporation Bank CMD, Mr B. Sambamurthy.
G. Naga Sridhar
Faced with stiff competition from new generation private sector institutions, the public sector banks are increasingly looking towards specialists to man different positions right from the bottom of the pyramid.
The traditional recruitment method of filling the clerical positions through a common test for all graduates (generalists in bankers terminology) is unable to cater to the operational needs of many a bank, according to top officials.
As per our feedback from different banks, it is clear that there are many deficiencies in the generalist staff such as poor understanding of a balance sheet, inefficient front-office management and non-friendly approach to customer service, a top official of Indian Institute of Banking and Finance (IIBF), Mumbai told Business Line over phone from Mumbai.
While success in examinations conducted by IIBF in the form of CAIIB is mandatory for promotions in PSU banks, it demands time and interest from an employee.
The best way is to attract talent from the specialist pool, pointed out Mr Amitabha Guha, Managing Director, State Bank of Hyderabad (SBH).
The current day banking operations call for specialist knowledge in marketing, finance, and accountancy and front-office management. We need to hire specialists for different tasks to be ahead of competition, he added.
Many banks have already started the process in a big way. SBI, for instance, recently advertised for an unspecified number of law officers to be recruited on contract basis.
We have been recruiting people with professional qualifications for better operational efficiency and customer satisfaction. The need of the hour is domain expertise, Mr B. Sambamurthy, Chairman and Managing Director, Corporation Bank, said.
According to IIBF official, specialists such as CAs, MBAs, graduates in agricultural related courses and lawyers would be recruited by the banks in a big way. Though exact number of vacancies may have to be decided by the individual banks, a significant need is already being felt, he observed.