Transforming Finance Education In India Overview


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SEFS is working with the leading companies in India to transform the finance education system. This presentation provides a broad overview of the project.

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Transforming Finance Education In India Overview

  1. 1. Transforming Finance Education in India Presentation By: School of Economics & Financial Studies (SEFS: )
  2. 2. Current Scenario – BFSI in India Banking Sector: According to a McKinsey study, the banking market in India is expanding with annual revenues expected to more than double to US$ 16.5 billion by 2010 from about US$ 6.4 billion at present. While the overall banking industry is growing at 20%, New Private Sector banks are growing at 40%. Today India's banking sector generates 2.5% of GDP and employs around 0.9Million people. With all reforms it could generate 7.5% of GDP and employ 1.5Million people. The growth would increase further once the government opens up the banking sector in 2009 for foreign players. Insurance: In the Insurance sector, during the financial year 2004-05 alone, the life insurance premium grew by 35 per cent to over US$ 13.5 billion in 2004-05. According to research agency Crystalise Research, over the next 5 years, this figure will reach US$ 33.5 billion mark. Stock Market: The AUM of the Indian mutual fund industry went up by 33 per cent at around US$ 44 billion in December, 2005, as against US$ 33 billion in the corresponding period last year. GROWTH
  3. 3. Current Scenario – Finance Education <ul><li>In 2004-05, an estimated 10.48 Million students were enrolled in the higher education institutions. </li></ul><ul><li>1.57 Million students enrolled in B.Com. and M.Com. programs. </li></ul><ul><li>Around 0.2 Million students enrolled in MBA programs. </li></ul>ISSUE IS NOT QUANTITY BUT QUALITY THE ISSUE IS NOT JOB OPPORTUNITIES BUT EMPLOYABILITY <ul><li>WHAT INDUSTRY NEEDS </li></ul><ul><li>Instantly productive manpower </li></ul><ul><li>Constant supply of quality manpower </li></ul><ul><li>Low or No cost of training </li></ul><ul><li>WHAT INDUSTRY IS GETTING </li></ul><ul><li>Few resources (from top MBA institutes). Demand far outstrips supply. Outdated content. </li></ul><ul><li>No relevance to industry which increases training costs. </li></ul><ul><li>Current regulatory regime not conducive for developing long term solutions. </li></ul>
  4. 4. The Solution: EMPOWERING FINANCE EDUCATION DEMAND & SUPPLY AGGREGATOR Institute 1….n Institute 1….n Institute 1….n SEFS: Education TeamLease: Manpower Solutions MeritTrac: Assessment Technology Partner: Content + Delivery Platform EDUCATION ENGINE Institute 1… Institute ...n Institute 1….n Institute 1….n Institute 1….n Wealth Management Firm 1…n Institute 1….n Institute 1….n Institute 1….n Bank 1…n Institute 1….n Institute 1….n Institute 1….n Insurance Co. 1…n Institute 1….n Institute 1….n Institute 1….n KPO/Others 1…n
  5. 5. Partners: Information <ul><li> </li></ul><ul><li>India’s leading staffing company. </li></ul><ul><li>Provides a range of Temporary and Permanent manpower solutions to over 650 clients </li></ul><ul><li>TeamLease started operations in 2002 and now has 74,000 employees in over 464 locations. On track to be India’s largest private employer by 2007. </li></ul><ul><li>Offices in 19 locations in India. </li></ul><ul><li> </li></ul><ul><li>Leading research based institution focused on high end quantitative economics and finance. </li></ul><ul><li>National level program offline & online delivery capabilities. </li></ul><ul><li>Global access to best BFSI faculty and content. </li></ul><ul><li>Managed by the globally acclaimed academics. </li></ul>School of Economics & Financial Studies
  6. 6. Partners: Information <ul><li> </li></ul><ul><li>India’s largest assessment company. </li></ul><ul><li>Tests more than 100,000 candidates each month. </li></ul><ul><li>Offices in all metro cities and has the capability to deliver tests across India. </li></ul><ul><li>21 state of the art testing zones, in 16 cities with 1200+ terminals. </li></ul><ul><li>Has delivered tests in China, Brazil, Costa Rica, Mauritius & Philippines. </li></ul><ul><li>Global Leader in education related solutions. </li></ul><ul><li>Global content and lecture development and delivery capabilities. </li></ul>TECHNOLOGY PARTNER
  7. 7. Platform - Illustration <ul><li>HR demand is aggregated and mapped. </li></ul><ul><li>Education input and output parameters are developed in consultation with the industry. </li></ul><ul><li>Sourcing strategy and roadmap is developed. </li></ul><ul><li>Students sourcing through institutes and other places. </li></ul><ul><li>Agreements with multiple institutes for an SEFS Inside model. </li></ul><ul><li>Students have been assessed prior to enrollment. </li></ul><ul><li>Students to be considered for the Source, Train, Deploy model only if they are enrolled. </li></ul><ul><li>Training of students using the best faculty. </li></ul><ul><li>Technology enabled platform provides multiple ways to deliver the lectures, content, Q&A sessions. </li></ul><ul><li>Assessment of students at multiple stages to filter the best candidates for the Source, Train, Deploy model. </li></ul><ul><li>Interview & selection of candidates. </li></ul><ul><li>Deployment either on client’s payrolls or on partner’s payrolls. </li></ul>DEMAND AGGREGATION SOURCING TRAINING & ASSESSMENT DEPLOYMENT 1 2 4 3
  8. 8. Benefits: Transforming Finance Education Short Term Medium Term Long Term <ul><li>Industry gets a pipeline of high quality productive manpower. Rightly skills, Right Time, Right Price, Right Place. </li></ul><ul><li>High quality content gets developed which can be embedded in place OR along with outdated curriculum. </li></ul><ul><li>Setting of quality benchmarks. </li></ul><ul><li>Programs get embedded in the top 500 institutes of higher education. </li></ul><ul><li>Content Exchange (ContEx): Formation of a body like NASBA to assist liquidity in education. Content/Program accreditation, standardization and acceptance. </li></ul><ul><li>Faculty development. </li></ul><ul><li>Lowered training cost for the industry while improving employees’ skills standards . </li></ul><ul><li>Programs get embedded in the top 1000+ institutes of higher education. </li></ul><ul><li>India to have the right resource base to become a global finance knowledge/processing hub. </li></ul>
  9. 9. Benefit: For Partners <ul><li>Market Penetration </li></ul><ul><li>Being part of a “Solution” for clients/industry allows easier and faster </li></ul><ul><li>market penetration. </li></ul><ul><li>Revenue Generation </li></ul><ul><li>This model provides long-term multiple sources of revenue. </li></ul><ul><li>Social </li></ul><ul><li>This platform can and will transform the finance education space in India. </li></ul><ul><li>The platform will help build a national finance education backbone that power </li></ul><ul><li>the global BFSI space. </li></ul>
  10. 10. Contact Akhil Kishore [email_address] +91 98180 88050