As per the requirement of the Bachelor in commerce and economics course structure, I was obliged to undertake an industrial attachment at an organization of my selection for a period of eight weeks. This exercise was meant to enable me glamatise with work surroundings, train abilities and information acquired in college and gain extra competence in my space of specialization. The utility process begun as early as third 12 months 2nd semester and I must say it was not an easy task as a result of I can’t count the variety of utility I made through both letters and e-mail True to say, opportunities because it has been penned down knocks ones at each mans door or a woman’s door if I am allowed to understand gender parity.
If not so they come ones in a blue moon and as someone with superior minds has advised, to guarantee that one to amass this rare ‘commodity’ he/she has to keep jumping and if any comes throughout in the means of jumping grasp it and capitalize on it.
I would link these sensible words to be me being accorded a possibility to work and train the talents and knowledge that I have acquired via the years I even have been enterprise my under-graduate diploma programme on the Institution of Global excellence in Training, innovation and development(JKUAT). As explicitly indicated within the cover web page this rare opportunity was accorded to me by the Trans-National Bank Management. I began my industrial attachment on 13th of June 2011 to 26th of August 2011.
This translates to around ten weeks.
The first day principally involved an orientation programme where I was taken by way of the various departments in the bank and introduced to the staff members. The departments that I was taken through had been customer care, clearing division, money division, advertising division and credit score department where I worked beneath the supervision of the department supervisor Jacinta Ndolo and college based supervisor Dr. Margret Oloko. I should say that it was an thrilling opportunity working in a corporation which varieties a half of the pillars of the economic system. In one way or another I knew I would lengthen my companies in economic building whereas there. These could probably be evidenced within the duties that I will carry out.
Objectives of the attachment
The primary aims of the attachment have been as follows
Impact and allow the learner/ pupil glamatise with the work setting by way of partaking accorded roles and duties in the organization. This varieties a good foundation for their future placement in the work trade.
It acts as a measure where scholar or a person can relate what has learnt and what’s on the ground due to this fact changing into a gauge for his/her future success within the chosen area specialization. Beside what is learnt in the university, the scholar will get an opportunity to acquire extra abilities and knowledge. Gives a possibility for an individual or the student practically train the theoretical half learnt in class or on the university. Attachment is like a pace setter for an individuals or the student future work. That is the scholar knows where to place him-self or her-self out there. It additionally varieties a good foundation for the group worker out-sourcing processes as a result of from the interns they’re able determine potential future workers for the organization. Instill courage and sense of responsibility within the students even as they function to hunt job alternatives in future
Mainframe of the report
General description of the organization and the departments the place connected.
Brief History of the organization and its role
Trans-national Bank at all times abbreviated as TNB is a private firm which got here into existence in 1985 as a SACCO. In the late 80s it was totally chattered as a non-public bank that would provide both personal banking services and cooperate banking companies in the republic of Kenya. It has excellent products for small account holders and offers congestion –free banking, progressive and responsive services, inexpensive bank expenses and velocity in choice making are its sturdy point over competition.
Physical Address of the Organization.
Vision and Mission of the Bank
The organization is pushed by numerous components which embody their imaginative and prescient and mission. These driving forces are as out-lined beneath: VISION: To be the regional financial service supplier of selection MISSION: Provision of handy financial providers and options to prospects by way of excessive requirements of service whereas rising stake holders’ worth.
The Core Values of the Organization
- Team work
- Good cooperate governance and social duty.
The function of the organization
The primary and core position of the organization is solely provision of banking companies within the republic plus engaging company social responsibilities
Expectation of the Organization
The financial institution plans to win a big private banking clientele over the coming years and proceed to broaden and spread its wings across all the corners of the country. The bank also expects that its web revenue goes to continually rise year in yr out. Beside this it additionally expects that its advertising team will regularly seek to give you tailor made products for its customers
Structure and Management of the organization
Like some other group it has a structure of administration composed of the Directors, chief Executive officer(C.E.O), Audit committee, Credit committee, strategy committee, danger committee, Assets and legal responsibility administration committee, Human resource committee, secretaries, Registered Office, Auditors, Advocates, managers, operations officers and workers members. The above may be summarized by the table under:
- The Board of directors
- Chief Executive Officer
- Audit committee
- Credit committee
- Strategy committee Risk committee Assets & Liability committee Human useful resource committee
- Secretaries Registered office Auditors Advocates
- Operations Officers IT committee Tellers &cashiers other employees members
The Organizations Branches
The head workplace is in Nairobi (Trans-National Plaza) city corridor method. The firm boasts of several branches throughout the country ranging from Nairobi Branch(city hall way)
- JKIA branch
- Kirinyaga Road Branch
- EPZ(Export Processing Zone)
- Mombasa Branch
- Mombasa International Airport Branch
- Eldoret Branch
- Nandi Hills Branch
- Kericho Branch
- Nakuru Branch
- Kabarak Branch
- Olenguruone Branch
- Kabarnet Branch,
- Sheik Karume branch amongst others
The Services and Products being provided on the Bank
The Bank presents a wide selection of companies and products starting from Current accounts
- Savers Accounts
- Transaction Account,
- Mshahara Account (Salaried individuals)
- Mrembo Acount (Ladies Account)
- Msomi Account (Students Account)
- Angels Account ( Children’s Acount)
- Investment Account,
- Hazina Account (Self Employed Individuals)
- Mint Account,
- Fixed Deposits
- SWIFT Remmitances
- Standing Instructions,
- Air Time Top Up
- SMS Banking e.t.c.
Departments on the organization
The primary departments found at the station where I was connected and I happened to traverse throughout have been as follows.
- The customer care Service
- The advertising department
- The clearing department
- The money Department
- The credit score department
General actions Undertaken within the Organization
Filing of account opening varieties for clients
Filing of RTGS( Real Time Gross Settlement Forms) and their confirmation Memos Filing of TTS( Telegraphic Transfers Forms)
Filing of clearing paperwork, cheque book request forms, bills receipts e.t.c Issuing of cheque books and recording them
Photocopying and printing
Turning on and off the systems, setting them up and common updating of the software’s. Documents and parcels delivery between the department and primary Head Quarters on the Central Business District (C.B.D) Stock taking (That consists of posting of all obtained stock i.e stationery within the system) Assisting purchasers fill the BRITACK (British American) I.P.O (Initial Public Offer) forms.
Specific activities undertaken through the attachment
The core activities were undertaken at departmental stage in the course of the interval of attachment and they’re as stipulated under. 6.1 The customer care service Department
Attending to common inquires from clients/customers.
Availing account balances and statements of accounts to purchasers Assisting new shoppers open new accounts.
Closing of in-active accounts.
Activating of de-activated accounts upon purchasers request.
Updating purchasers accounts.
The Marketing Department.
Marketing the organizations services throughout the branch area and Nairobi environs in general Visiting each present and potential clients at their enterprise premises to find out their progress, challenges facing them, looking for their opinion on the extent of satisfaction and possible enhancements on our services and products. Preparing call reports after each advertising outing.
Phone calls to unreached purchasers throughout name visits for updates or comply with up exercise. Attending advertising meetings with the advertising managers.
Providing a readily available, service-focused, knowledgeable and experienced point of contact for model new clients. Cross-selling the bank’s products successfully.
Identifying customer needs effectively and open new accounts accordingly.
Managing the customer portfolio which includes of high web worth native buyers; Updating and frequently maintaining KYC (Know Your customer) on all purchasers held in our portfolio, including updated information on clients’ financial background. Identifying marketplace for the organization
The clearing Department
- Receiving and verification of cheques
- Recording of unpaid cheques
- Issuing and recording of bankers cheques
- Running the cheques via Checkpoint Truncation System (CTS).
This involves capturing the photographs of all cheques through a scanner, enterprise amount entry, verification and generating their commission. Posting of cheques in OMNI (Omni is network that allow posting of cheques online in order that respective recipients can entry them wherever they’re. Undertaking TR (transfer) that is accomplished for inward cheques and is simply transferring the money from drawers account to the payee account and the same applied to KRA(Kenya Revenue Authority) tax remittance by shoppers. Recording of obtained cheque books, issued ones and balancing the books on daily basis. Sorting cheques in order of financial institution codes and amounts in preparation for cross checking with the Outward Clearing Report (OWCLG).
The Cash Department
- Organizing Cashier’s cubicle, stamps in readiness of the day.
- Acquiring controlled balanced cash initially of the day.
- Scrutinizing cash withdrawal cheques and slips for correctness earlier than accepting them.
- Scrutinizing cash/cheque deposit pay in slips for correctness of technical details earlier than receiving.
- Forex transactions i.e. buying and selling of foreign echange
- Verifying customer’s signature.
- Paying cash inside the limit and referring cheques for limit authorization.
- Posting of money deposits, withdrawals and Cheques for local clearing.
- Issuing of Banker’s cheques.
- Sorting of soiled notes.
- Assisting in money confirmation ready for sealing and lodgment.
- Making references to the operations handbook to make sure compliance.
- Reconciliation of accounts as assigned by the branch Manager
- Any different back workplace work assigned by the department supervisor.
The credit Department
The credit department basically offers with provisions of loans and asset financing to the clients. The core actions concerned; Receiving mortgage utility forms/documents from candidates.
Analyzing, scrutinizing and assessing their loan paperwork which include their securities. Undertaking account statistics which included analyzing applicant’s transaction turnover, commissions, interest and ledger charges. Making name visits to applicants enterprise premises to establish the
following information as a half of mortgage lending course of; The location of the business and their offices
The type of enterprise one is working i.e. firm, partnership, sole- proprietorship e.t.c The description of goods and providers being provided by the business e.g. Hard-ware, stationery, Hotel, e.t.c. The main suppliers and prospects of the mortgage applicant
Whether they do any importation or exportation
The mode of payment to suppliers i.e. by way of money, cheques,TTs(Telegraphic Transfers) or RTGS(Real Time Gross settlement). Their new funding plan i.e. new products, fastened asset acquisition , , how long they’ve been in business, the expectation from the funding and if they have had any changes since their establishment. The key management variety of employees and their qualification. After all this exercise I was expected make an appraisal report for the applicant in conjunction with different members in the credit score department. This would then be passed to manager for approval before being forwarded Head workplace.
A profile of skills and competencies gained
I must acknowledge that in this period quite a few skills and impartment was gained and they’re as outlined beneath: Further improved my communication skills as being most important talent via interacting with shoppers via advertising exercise, customer support department and common communication to purchasers in the departments that I worked Handling of bulk money together with verification, sorting, sealing e.t.c Never new much about loan procedures but got a chance to know them as has been stipulated beneath the actions under-taken in the credit department. Writing of bankers cheques was a key talent gained. Never in my life had I written one. More to it I learnt that bankers’ cheques permit no alteration of any magnitude as a outcome of if it goes with alteration chances are high that it will bounce. Preparation of call reports and value determinations for loan applicants and new prospects was also a key thing that I discovered. How to identify authentic and faux cash by observing sure options via a special cash scanner.
Activities which I utilized my expertise for the good thing about the organization.
Being through a studying and training system, I came to agree that it is an essential and significant instrument in a person life and as many institutions would phrase their mottos and vision, true to say schooling is vital, gentle or avenue to many issues in an individual’s life. Therefore to me the abilities I have acquired in establishments of learning enabled me serve the group within the following ways My communication skills enabled me to owe a quantity of new clients to the organization through the advertising spree and whereas at customer service. The computer skills that I gained earlier in my life also enabled me solve a number of computer errors and software hitches on the organization. The braveness I have accrued by embracing leadership positions enabled me work together with shoppers of all personalities. Through entrepreneurial data gained in university I was able to make important and immense contribution throughout marketing and other staff conferences for department evaluation and addressing pressing issues.
Strategy for utilization of the contacts established throughout attachment
Serving at the department as an intern enabled me to expand my public relation territory by a significant percentage. I have brushed shoulders with individuals of divergent personalities and caliber each during workplace work and during advertising classes and name visits. This exposed me to the market and thus I consider was in a position to position myself nicely within the job market. Therefore the contacts, I believe will give me an edge each now and in future as I seek private and societal establishment. The ideologies also gained by way of contacts shall be used in constructive manner by way of the daily processes that I will be undertaking or engaging myself in.
Challenges of internship
Getting the attachment in the first place was a significant hurdle that was tough to leap throughout. Many software had been made however almost 90% have been virtually unfruitful Expenses incurred in the whole means of attachment ranging from application to precise working interval had been very excessive. That included the journey cost, lodging among others proved quite difficult Uncooperative shoppers. Some shoppers at work place would fail to observe stipulated bank procedures and one had to be patient enough in directing and reminding them what they are alleged to do. Dealing with
dead-lines. At instances coping with date-lines proved wanting due to bulk of work, time given to accomplish it and the labor drive out there to perform Work overload. Sometimes work was so much more particularly throughout end-months where organizations are paying salaries to their staff and tax remittance by the organizations
Suggested solutions to the above challenges
The University should chip in by liaising with various organizations to help students get attachment. Availing of any attachment info at their disposal e.g it came to my notice that some organization needs a prior of like three months earlier than the actual date of attachment commencement. Provision of allowances: The organizations ought to contemplate offering some allowances to interns for their upkeep in the course of the attachment interval and in addition act as supply of motivation. Civic schooling on clients on organizations rules and etiquette. The organizations ought to manage forums the place shoppers could be taught operational etiquette, guidelines, phrases and circumstances of operations Provide cheap date-lines. This should put into consideration the quantity of work to be accomplished and obtainable time and likewise the variety of workers Increase the workers members: This would counter the issue workload and beating date-line
Analysis, remark and critiques
Analysis and observation
It was conspicuously observed that there was a big relationship between what’s discovered in the college or in the faculty and what is practiced or exercised in the trade. A few of the issues I even have learnt and were getting used in the industry included the Amortization schedules ideas, decreasing balances ideas, reconciliation concepts, market segmentation concepts, partnership, competitive pricing, required improvement on present banks products and new ones, strategies on bettering the companies corporate brand technique state of sales staff and possible improvements, staffing methods e.g adequacy of employees members and abilities aware of business progress, efforts to reinforce efficiency of staff, efforts to create a conducive and skilled setting that embeds bank values, efforts to enhance operational efficiency and effectiveness in
customer support delivery and various delivery channels. If one keenly cuts throughout this we will conclude that fairly a selection of these things we’ve learnt in the models that we’ve coated up to now ranging from accounting, finance, advertising, Human Resource Management amongst other items. Therefore if approximately analyzed I can conclude that 80% of what did was related to what I learnt in the university.
Poor communication and feedback system. I would say that there have been frequent break down in communication system at place of attachment as a result of poor community or unstable community in the system that was being used to relay clients info. This created lots of inconviencies each to clients and employees who needed to work extra time due to such failures Under-staffing: Serving purchasers adequately and ending work on time was a problem due to much less labor drive on the agency Lack of motivation to the workers: if one compares the staff re-numeration with the amount work done, it was not really motivating. Workers additionally worked over-time as late as 9pm but with no further time allowance which was a extremely de-motivating expertise. Lack of privateness i.e absence of closed door office. The again door workplaces had been open that’s the window panes have been trans-parent permitting shoppers see all the transaction under-taken there due to this fact posing a security menace to the group which primarily offers with finances.
Interns who’ve efficiently completed their attachment and have proved their price of their area of specialization must be absorbed again within the organization. This would aid the organization in slicing value on training, orientation of latest employees’ e.t.c Increase the workers. The workers numbers must be elevated in the organization to facilitate enchancment in service delivery hence profit realization. Aggressive advertising. The organization needs still to do a lot when it comes to advertising itself and its products within the republic if it needs to proof its price available within the market. Motivation must be embraced. The workers there want lots of motivation if the group is to up its efficiency within the banking industry Quick service supply to shoppers must be seemed into consideration and this is in a position to be solved by staff increment and enchancment within the communication net-work at the
group. 14.zero Summary and conclusions.
I must acknowledge that going for an attachment was one probably the most fascinating and captivating issues in my life. One of essentially the most useful lessons learnt from the internship is that it is of the essence that one enjoys their job. It is unimaginable that a person should go through so a few years of schooling just to finish up sulking each and every day of their work – such people have been met during the attachment; it isn’t a fascinating state to be in. In many of the cases,the internship served to teach extra of what not to do quite than what to do. It clearly introduced out the significance of integrating one’s character and pursuits with their occupation, though this will not be straightforward in the light of the highly aggressive job market in today’s world. However, it must be famous that enjoying one’s job doesn’t necessarily suggest that one has the best job they have always envisioned since this could be based on hypothetical beliefs and expectations; quite, it implies finding that job that brings the most effective out of one’s persona; that occupation that will deliver fulfilment and satisfaction and that may lead to a perfection of the human person. In addition to the above, it may be concluded that flexibility when it comes to career alternative is important. It just isn’t guaranteed that one will necessarily end up working in the particular subject of research that they have undertaken in their undergraduate program; in any case, job dynamics are higher learnt on the job itself than in school. It is subsequently important that one is open to any viable alternatives that may current themselves, aside from the ideal job that may have been envisaged, provided they carry the best out of one’s capabilities.