Employment opportunities in Banking, Financial services and Insurance in India


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Employment opportunities in Banking, Financial services and Insurance in India

  1. 1. Employment Opportunities in BFSI in Indiawww.inQuisitive.in
  2. 2. BFSI Sector - Overviewwww.inQuisitive.in
  3. 3. Overview• Major segments of industry areBanking, Insurance, NBFCs and Mutual Funds• BFSI sector contributes about 10% to India’s GDP• Better market dynamics, improved technology andincreased household savings are the key drivers forthis sector• Still India markets are hugely under penetrated withscope of expanding distribution of financial productswww.inQuisitive.in
  4. 4. Role of Financial SectorIndividual andCorporateSavingsInvestments inFinancialProductsLending toBorrowers orCapitalExpenditureReturn onInvestmentsIncomewww.inQuisitive.inAt every stagecompanies fromBFSI sector areinvolved in thiscycle
  5. 5. www.inQuisitive.in
  6. 6. The OpportunityIndia’s BFSI sector is expected to become 4-5 times of current size on allparameters by 202020202010Banking Revenue Life Insurance PremiumMutual Funds AUM Broking Revenue202020202010202020102010INR2.5 TINR7.5 TINR41 TINR10.6 TINR2.5 TINR10.7 TINR150 BINR700 BSource: India 2020 report by Edelweiss capitalwww.inQuisitive.in
  7. 7. Employment Opportunity in BFSIIndustry Segments Total Employment (in‘000s) - 2008Projected Employment(in ‘000s) - 2022Banking 1200 1500Insurance 300 400NBFC 30 45Mutual Funds 20 25Financial Intermediaries 3000 7000Total 4550 8970www.inQuisitive.in
  8. 8. Functions and Roles – Fresh GraduatesSales & Marketing• New businessgeneration• Relationshipmanagement• Marketing &promotion• Proposalpreparation &presentationOperations• Transactionprocessing• Documentation• Compliance• Branch operations• Customer service• Risk managementSupport Functions• HR• Admin• Finance• Legal• IT• Auditwww.inQuisitive.in
  9. 9. Skill Requirements and GapsSkill Required Skill GapsDetailed understanding of variousproductsKnowledge of financial products,players in the market, differentkind of customersOrientation towards generatinghigh volumes, ability to meet andchase targets, ability to understandcustomer requirementsSelling skills – ability to presentfinancial products in an attractivemanner, understand the customerneeds, cross selling, up selling,follow upGood communication skills,presentation skillsSales effectiveness – how toconvert opportunity in sales withminimum effort, networking,presentationKnowledge of Excel, PPT forpreparing reports, MISPoor knowledge of basic software,current affairs, etc.www.inQuisitive.in
  10. 10. Bottom Line Impact• Lack of skilled manpower is one of the biggest constraint, whichcompanies are facing in scaling up• Companies are not able to build effective work force which will helpbuild client relationships, cross sell, up sell or get client references• Employees are not trained on multiple products which preventscompanies from capturing larger wallet share of clients• Employees are not able to evaluate client’s risk appetite and thus endup selling unsuitable products• Servicing team is not able to resolve client queries efficiently leadingto customer discontentment• Front end employees lack knowledge of operational aspects leadingto higher ratio of form rejections and higher turn around timewww.inQuisitive.in
  11. 11. About UsinQuisitive LearningWe are an education and learning companyWe design and deliver educational and skill enhancement courses andcertification programs that leads to employabilityWe have begun this journey by developing courses specific to theBanking, Financial Services and Insurance industryOur endeavour is to deliver trained professionals for different roles inthe industry who can hit the ground running from day one on their jobswww.inQuisitive.in
  12. 12. Connectinfo@inQuisitive.inW www.inQuisitive.inwww.inQuisitive.in