The first of the workshop series, to build capability amongst young potential talent to prepare them for the dynamic banking world, was held on January 27 - 28, 2013 at the IIM Lucknow campus. Sudeep Yadav, Head of Citi Transaction Services and Rajat Madhok, Head of Citi India led the session. The select group comprises 40 second year finance students who are sitting for their final placements. The workshop started out with an update by Sudeep Yadav on the current developments in the banking industry globally and in India, including Basel III and its implications, regulatory trends and today’s demands from discerning clients and customers. Sudeep then followed up with an insight into the concepts of transaction banking, after which Rajat Madhok shared with the group the business of commercial banking and how Citi India strived to meet the needs of the country’s growing small to mid sized enterprises. The first day ended with the students being exposed to actual examples of case studies. On the second day, the students were put to the test, as they were questioned on what they have learned. The top two students with the highest scores were recognized at the end of the workshop with a big round of applause.
Both Sudeep Yadav and Rajat Madhok were impressed at the high level of engagement and questions from the students, while the potential talent attending the workshop enthused over the insights and time spent with them from the industry veterans.
According to Sudeep Yadav. “As part of Citi's core value of responsible finance, we have taken the initiative of going to key institutes in India to make students familiar with banking and roles in banking. Transaction services are of strategic importance for banks, being at the core for most. With the need for young talent in our business, we have brought in this workshop an effective tool to bridge the gap between theory and practice in the world of banking.”
Rajat Madhok added, “The Commercial Bank of Citi is a market leading franchise covering diverse Indian corporates and emerging market champions. The small and mid-sized corporate segment is expected to continue showing substantial growth driven by organic capital expenditure in India and inorganic opportunities offshore. Citi is well positioned to capture the growth with deep client relationships and strong local franchise and global presence. As we continue to grow, we are focused on hiring young talent from top B schools across country to build the talent pipeline for our business”.
The faculty coordinator at IIM Lucknow said, “Who would have been better to clear the myths and misconceptions about this vertical than few of the leaders in this vertical. It was an eye opening session for the students who wanted to make a career in banking, it helped them understand the complexity involved in this sector, the expectations which the sector would have from them and the various profiles involved.”
Anuranjita Kumar, Country Human Resources Officer, Citi India added, “We continue to invest in young talent at the campuses and this partnership is an indication of our commitment in the direction. IIM Lucknow has been a valued relationship for Citi and over the years we have hired bright talent from the campus who have grown and held various leadership positions across the Bank.”
The workshop was greatly appreciated by the students of IIM Lucknow. Mayank Khulbe one of the students who had attended the workshop said “The workshop was an eventful learning experience wherein the gaps between theory and practice were bridged. Through a series of interactive lectures and real cases, we were exposed to the ground realities and nitty-gritties of the banking system.”
Another student, Apurv Raj added “It was an awesome experience to learn about the various verticals and job profiles offered by Citibank through an interaction with the respective country heads of various divisions of Citibank. We got a flavour of how business problems are solved in the actual corporate scenario through role play and negotiation exercises.”