Standard Chartered Bank Enters a MoU with Symbiosis Institute of Management Studies

In a move that is expected to have far reaching consequence in the manpower segment of the banking and financial services sector, Standard Chartered Bank (SCB), today formally entered into a Memorandum of Understanding (MoU) with the Symbiosis Institute of Management Studies (SIMS), Pune. This partnership aims to fill the present and future talent deficit in the banking sector.

“The demand for talented people in the Banking & Financial Services sector far exceeds the supply,” says Murali M. Natrajan, Regional Head - Consumer Banking, India & Nepal, Standard Chartered Bank. According to him, the retail banking industry in India has very challenging but exciting times ahead. “The key differentiator between success and failure in this environment would be human resources. In fact SCB was one of the first banks in India to create a dedicated academy for the Consumer Bank, as we not only need to hone the existing talent but also create fresh talent,” he added explaining the significance of the alliance between SCB and SIMS.

Upon signing of the MoU, SCB’s Consumer Bank Academy & SIMS will offer a one year Post Graduate Program in Retail Banking & Sales. The program will be co-created and co-facilitated by SIMS and SCB’s Consumer Bank Academy. The highlight of the course is that all the students admitted to the program will be employed with SCB. Moreover, the students will be offered substantial on the job training and will also be able to earn while they learn through an attractive stipend during their internship.

“In this partnership, SCB will bring its deep knowledge and understanding of the banking domain and SIMS, the ability to nurture talent. Together, we aim to create professionals who are the best in the retail banking space”, adds Mr. Murali M. Natrajan.

The Post Graduate Program in Retail Banking & Sales is a twelve month course and will enrol a minimum number of 300 students in 2008.

Course Details:

The proposition

SIMS and SCB’s CB Academy will jointly offer a one year PG Program in Retail Banking & Sales. All students enrolled in the program will be employed with SCB. The confirmation of their employment will be subject to successful completion of the one year program and all the assessments.

Number of students to be enrolled in the Program

A minimum number of 300 students in the year 2008 will be enrolled in the program.

Admission Process

The admission process will be jointly conducted by SCB Consumer Bank’s Sales Resourcing team and SIMS. Admission will be on the basis of SNAP scores, a sales aptitude test, Group Task and a personal interview.

Program Fee & Stipend

The candidates, for the full one year PG Program, will pay a nominal fee of Rs 75000/- (Rupees Seventy Five Thousand Only) plus applicable taxes. They will also be earning a stipend during the period of their internship.

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