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FINAL REPORT OF OUR FINAL PROJECT ON

SILK BANK LIMITED

Jointly Submitted By:

Syed Nabeel Ali – 1536

Syed Abdul Rehman

Adnan Ahmed

Fahad Aziz

Submitted to:

Sir Asif Jalees

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LETTER OF TRANSMITTAL

To

Sir Asif Jalees

Iqra University North Campus,

Karachi.

Sub: Memo of term project report

Dear Sir,

Here is the report on Silk Bank Limited. Our report will contain three

sections, each section have further more sections. We will cover all necessary

things for the management of Silk Bank Limited.

Thanking you

From all group members

Syed Nabeel Ali

Syed Abdul Rehman

Adnan Ahmed

Fahad Aziz

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ACKNOWLEDGEMENT

Thanks to all members of different departments of SILK BANK LIMITED

who helped us in acquiring information about their organization. Thanks to

Mr. Farhan Ahmed (Area Sales Manager of Silk Bank) who helped us in

providing information for our project.

We would like to thanks all our parents and those people who help us in making this

project. We also state our gratitude teacher Mr. Asif Jalees this is their effort,

guidelines that we have completed the Project successfully.

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EXECUTIVE SUMMARY

To interpret our skills and educational knowledge of Management we make a

report on Silk Bank Limited.

Silk bank is the Public sector financial institution. The Silk bank was

established on 1949, to serve as an agent to the SBP. Silk bank head office is

in Karachi. It has 1249 regional branches and 18 overseas branches. Silk bank

is a 52% share owned by the Government of Pakistan (GOP). Silk bank's total

assets stood at PKR820 billion on mid of 2009.This included total earning

assets of about PKR268 billion with gross loan portfolio of PKR140 billion.

The bank also has an investment portfolio of PKR171billion, which comprises

treasury securities, corporate bonds, shares and other securities. This report is

based on Silk bank? It is a famous and reputed bank of Pakistan. Silk bank

maintains first position in banking sector in Pakistan. This report is based on

the activities, which are performed in this bank. This report

contains Banking services, competitive analysis, SWOT analysis, bank tariffs

andexchange rates of Silk bank. In this report we also observed the jobs task

of the employees and we find him a lot of problems at the management level.

So We Have mentioned all the problems from which the branch has been

suffered have given the suggestion that can they solve branch problems?

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TABLE OF CONTENT

Letter of Transmittal……………………………………………….………….2

Acknowledgement………………………...………………………………….3

Executive Summary………………………………...…………………………4

Introduction to Silk Bank..……………………...…………………………..…6

Services of Silk Bank………………………..…………………………….…..7

Questionnaire………………………………………………………………….8

SWOT Analysis……………………...……..………………………………..30

PEST Analysis……………………...……..…………………………………32

Suggestions &Recommendation…………..…………………...……………34

Conclusion………………………………………………………….….……35

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Introduction to Silk Bank

Company History

Silk Bank came into existence on March 31, 2008, a syndicate comprising of the IFC,

Bank Muscat, Nomura International and Sinthos Capital led by senior bankers Mr.

Shaukat Tarin and Mr. Sadeq Sayeed who acquired 86.55% stake in Silk Bank for

around $213 million. Saudi Pak Industrial and Agricultural Investment Company Pvt.

Ltd (SAPICO) was renamed Silk Bank Pakistan Ltd. Under the new leadership, the

Bank continues to focus on SME & Consumer financing resulting in efforts

of increased profitability.

Vision

Benchmark of Excellence in premier banking

Mission

To be the leader in premier banking trusted by customers for accessibility, se

rvice &innovation; be an employer of choice, creating value for

all stakeholders.

Values

Silkbank prides itself on being a conscientious and responsible corporate citizen with

acommitment to the development of Pakistan. At Silk Bank, our employees are

encouraged to give back to society and

we have made concerted efforts towards the development of healthcare, education an

d constructive character building sports activities in theunderdeveloped segments

of our country.

Core Values

Customer Focus

Integrity

Teamwork

Creativity

Meritocracy

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SERVICES OF SILK BANK

Services are the outputs of the firm, which are in intangible form.

DEMAND DRAFTS

If you are looking for a safe, speedy and reliable way to transfer money, you can now

purchase Silk bank’s Demand Drafts at very reasonable rates. Any person whether an

account holder of the bank or not, can purchase a Demand Draft from a bank branch.

SWIFT SYSTEM

The SWIFT system (Society for Worldwide Interbank Financial Telecommunication)

has been introduced for speedy services in the area of home remittances. The system

has built-in features of computerized test keys, which eliminates the manual

application of tests that often cause delay in the payment of home remittances. Using

the Silk bank network of branches, you can safely and speedily transfer money

for our business and personal needs.

LETTERS OF CREDIT

Silk bank is committed to offering its business customers the widest range of options

in the area of money transfer. If you are a commercial enterprise then our Letter of

Credit service is just what you are looking for.

TRAVELER'S CHEQUES

Traveler’s cheques are negotiable instruments, and there is no restriction on the

period of validity of the cheques. Rupee traveler’s cheque is available at all 700

branches of Silk bank this can be encashed in all 400 branches of Silk bank. There is

no limit on purchase of this cheque. It is one of the safest ways for carrying money.

PAY ORDER

Silk bank provides another reason to transfer your money using our facilities. Pay

orders are a secure and easy way to move your money from one place to another.

And, as usual, Silk bank charges for this service are extremely competitive.

MAIL TRANSFERS

Move your money safely and quickly using Silk bank Mail Transfer service. And

also offers the most competitive rates in the market. They charges Rs 50/- exchange

rate and RS 75/- postage charges on issuing mail transfer.

FOREIGN REMITTANCES:

To facilitate its customers in the area of Home Remittances, Silk bank has taken a

number of measures to:

Increase home remittances through the banking system

Meet the SBP directives/instructions for timely and prompt delivery

of remittances to the beneficiaries

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QUESTIONNAIRE

Following is the feedback generated from the management of Silk Bank Limited

during the project.

Q. No. 1 HOW THEY PLAN ORGANIZES, LEAD AND CONTROL THE

ACTIVITIES OF THEIR TEAM?

Ans. 1 For any plan they have to make feasibility where they make a monthly plan

which divided into weekly plans then they establish overall strategies for

achieving those goals. To organize this they lead and control by themselves

with the help of their team. Below are the key points:

o Divide work to be done into specific jobs and departments in Silk Bank.

o Assign tasks and responsibilities associated with individual jobs in Silk Bank

o Establishes relationships among individuals, groups and departments.

o Allocates and deploys organizational resources.

To Control the activities of the employees, Following are the guidelines.

o Documentation

o Approval & Authorization

o Verification

o Supervision

o Separation of duties

o Safeguarding of assets

o Reporting

Q. No. 2 WHAT HUMAN SKILLS NECESSARY TO LEAD A TEAM?

Ans. 2 According to Farhan Ahmed (Area Sales Manager – Silk Bank), for any job

based on human skills help a leader to work effectively with subordinates,

peers, superiors to accomplish the organization’s goals. Here a leader has to

be aware of one’s own perspective on issues and, at the same time, being

aware of the perspective of others. Leaders with human skills adapt their own

ideas to those of others. Furthermore, they create an atmosphere of trust

where employees can feel comfortable and secure and where they can feel

encouraged to become involved in the planning of things that will affect

them. Following are the three vital skills:

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a. Respecting and understanding employees.

b. Communicate effectively

c. Trust of the team.

Q. No. 3 BIGGEST CHALLENGES FOR MANAGERS IN SILK BANK

Ans. 3 The biggest challenge for manager is too many targets. As you know that the

manager is not only focusing on his product, but he is selling multiple products

through cross selling. Furthermore, below are the other challenges which the

managers of Silk Bank are facing.

o How to come to a new level of growth and sustainable profitability in an

environment of low interest rates

o Where to develop new and reliable sources of revenue

o Enriching and increasing the business value of customer relationships, at a

time when customer behaviors and expectations are more demanding

Q. No. 4 IMPACT OF GLOBALIZATION ON SILK BANK AND HOW IT IS

AFFECTING

Ans. 4 According to them, they not much influenced by Globalization, the reason is

that they are working under the umbrella of State Bank of Pakistan, which has set his

own rules and regulations.

Q. No. 5 MANAGERIAL ETHICS GUIDLINE FOR THE ENTIRE

ORGANIZATION

Ans. 5 The Bank has adopted a statement of ethics and business practices that is

signed by all directors and employees. Following are Key elements in managerial

ethics:

o Local Laws & Group Standards

o Confidentiality & Data Protection

o Suitable Products

o Money Laundering

o Insider Trading

o Bribery & Corruption

o Gifts & Entertainment

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o Conflicts of Interest

o Dealing in Silk Bank Shares

Objectives: Code of ethics and business conduct intends to deter wrongdoing

and act as a ready reference to all the employees in maintaining compliance

with the rules and regulations laid down by Silk Bank limited and would be a

guide in directing the group management to ensure the observance by

employees according to the stipulated policies of Silk bank and promote the

following objectives:

o Honest and ethical conduct, including ethical handling of actual or apparent

conflicts of interest between personal and professional relationship.

o Compliance with applicable governmental laws, rules and regulations.

o Promote internal reporting to designated persons of violations of the code.

Q. No. 6 CORPORATE SOCIAL RESPONSIBILITY ACTIVITIES OF SILK

BANK LIMITED

Ans. 6 Management without caring needs and expectations of stakeholders in

a community will not be competitive compared with those who do in the 21st

century. Demand for accountability and transparency from both public and

private sectors has become soaring.

Every year Silk bank limited carry out environmental audits and make

significant contributions to the society to support their agenda of Corporate

Social Responsibility. Silk bank raised funds in which not only the bank but

the employees contributed equally which were then contributed to flood

relief rehabilitation. Out of which Rs.2.5 million was denoted to Sind Institute

of Urology and Transplantation (SUIT) and Rs.1.5 million to the flood

affecters. Silk bank not only sponsored a Polo team of four professional polo

players for the season 2010/2011 but also made significant contributions and

sponsorships towards NGOs like The Medical Aid Foundation, The Kidney

Centre, Children Health and Education Foundation, Habib Educational Trust,

Ziauddin Medical Foundation, Special Olympics, WAPDA Sports Board,

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Institute of Business Administration Karachi, Marketing Association of

Pakistan and etc. Following are the details of their CSR activities.

Roshan Mustaqbil

A child is the most precious gif t for any quali ty education is the best

gi ft parents can give to their children . Si lk bank Roshan Mustaqbil

Bancassurance is an education plan exclusively designed to cater

your needs. The plan is underwrit ten by EFU Life Assurance Ltd.

Roshan Mustaqbil is a f lexible, tai lor -made, complete financial

package that facil i tates you to plan your children’s future education

requirements and guarantees a financially secure tomorrow even in

case of any mishap.

Sunehra Kal

Silk Bank Sunehra Kal bancaassurance

is a saving and investment plan exclusively designed to cater al l your

needs. The plan is underwrit ten by EFU Life Assurance Ltd. Sunehra

Kal is comprehensive f inancial planning package that gives you the

dual benefit of protection along with potent ially higher returns over a

long- term on your saving and investment. The most important benef it

of Sunehra kal is i ts f lexibil i ty to suit your needs. Sunehra Kal is an

ideal , regular premium unit -l inked plan, to all your dreams into

real i ty.

Mehfooz Har Pal

Silk Bank Mehfooz Har Pal bankassurance is a simple yet

comprehensive accident and hospitalizat ion plan providing 24 hour

worldwide coverage to t he ent ire family. Mehfooz Har Pal guarantees

your financial wel l by paying out cash on death

or prolonged absence from work as a result of an accident or hospital

izat ion due to anaccident . The plan is underwri t ten by EFU Life.

Silk Health Plan

Health is undoubtedly the real wealth. In fact , good health is a treasu

re that everyindividual cherish the most .but unfortunately i l lness

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and disease are part and parcel of l ife and always exist . With the

health care costs, s ickness may not only lead to mental distr ess for

the whole family but could also adversely affect the finance for a

long t ime to come. The implications become even more severe if the

i l lness result in prolonged hospi talizat ion. With a mission to help

people l ive heal thier , wealthier and more succ essful l ives Si lk

bank offers Silk Heal th Plan, a comprehensive heal thcare package th

at provides financial protection in case of i l lness or accident that lea

ds to hospital ization. The plan is underwrit ten by Allianz EFU.

Q. No.7 HOW THE ORGANIZATIONAL CULTURE IS DERIVED IN

SILK BANK

Ans. 17 An innovative culture helps Silk bank to produce unique products

and services that meet their customer’s needs. They get away from the culture

of sifarish, reciprocity, favoritism, nepotism and inculcate a culture of serving

the customers equally and honorably without any distinction. They apply the

KYC (Know Your Customers) regulations with equal fervor, discourage

benami loans, or deposits, report suspicious transactions, penalize deceptive

pronouncements and practices by sheer force and take criminal action against

those found guilty of frauds and forgeries. Transparency, full disclosure,

courtesy to the customers and helpful attitude should become integral part of

the organizational culture. Continuous learning, skill up gradation and

acquisition and mastering of new knowledge and techniques will prove

extremely helpful in the professionalization of the banking industry.

Teamwork- They work as a team family

Working - l ike a family rejoice the

Competit ion- there is a lways a competi t ion there

Career - a great career ahead

Q.No. 8 GOALS AND MBO APPROACH BY SILK BANK

Ans. 8 Silk Bank remains on course to meet its long term goals and is fully

committed to enhance its capital to meet regulatory requirements. The fresh

capital injection is fully backed up by the bank’s sponsors namely Nomura

Investments, IFC (World Bank Group) and Bank Muscat. Silk bank's main

objective is to offer outstanding value to their customers by providing a

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knowledgeable, efficient and reliable service in a personal, helpful and

responsive manner. Central to this service philosophy is their professional

consultative approach, which they take with each customer. By getting to

know their customers better, they identify their needs and match them with

tailor-made quality products and service solutions.

To put it simply, they are committed to making today's complex financial

world easier for their customers.

Management by Objectives (MBO): In our organization, employees are

motivated through MBO. Here they have a program that emphasizes

participative on setting goals that are tangible, verifiable and measurable. In

this regard, they have the following ingredients in MBO

o Goal specificity,

o Participative decision-making,

o An explicit time period

o Performance feedback.

Implementation of these ingredients results in employee motivation.

Q. No. 9 ENVIRONMENTAL SCANNING

Ans. 9 They done it by interviews and research by their marketing team

through phone calls, and by determining their customer needs and the services

required them for their ease. They gather Information related to markets &

customers, changes in legislation & regulations that have a direct impact on

organization’s activities that could be collected continuously to monitor

changes. Following are the steps which are followed by Silk Bank Manager:

1. Define Question

2. Develop assumption

3. Gather Data

4. Filter and organize data

5. Analyze appropriate data

6. Prepare findings and select best recommendations

7. Prepare draft report

8. Review and approve

9. Issue report and deliver presentation

10. Seek feedback from customer

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Q. No. 11 ORGANIZATIONAL STRUCTURE & SPAN OF CONTROL

Ans. 1 Below is the organizational structure of Silk Bank:

SPAN OF CONTROL

Span of control means number of employees working under the one officer.

The concept of span of control has been started many years ago. The main

objective to use the span of control is to save the resources of the firm as well

as to increase the authority of the officer. Span of Control in Silk bank is

increasing widely because all the banks are working under the one area

manager, that shows the efficiency and effectiveness of the management who

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have organized such kind of structure which decreasing the cost as well as

increasing the revenue of the firm with lower rate of employees.

Q. No.12 CHAIN OF COMMAND IN SILK BANK LIMITED

Chain of Command means organizational hierarchy is control by a single

person who looks after the whole organizations activities. Chain of command

is a traditional way of dealing with the employees. In Silk Bank there are two

important types of command which is used one is most important Central

Command and 2nd

is Branch Command. Chain of Command is centralized

power in Silk bank which is control by the higher authorities and the all

decision making has been made at central level, the final authority is the

Chairman who can take every kind of decision with communication of their

board of directors. Specially marketing

decisions which has the great importance made according to the centralized

procedure. Branch Command is a delegation of power has given by the

chairman and the board of directors which also have the importance

because a branch manager is a kind of person who can take the immediate

decisions at the spot. A branch manager in Silk bank who have the command

and control of their branch where he can change the branch environment, but

he also controlled by the regional manager, and his task is restricted.

Centralization Bank is a kind of organization where centralization is more or less it’s

depending on the functions of the department. In Silk bank there are some

functions which are centralized like marketing, profit increase cost decrease

increase shares in the market and some where branch managers or area

managers could make their interference for instance in various operations such

as account opening, treasury functions and I.T operations which are performed

by the direct regional and area manager.

Decentralization When the organization divided their centralized power into different

departments and officers is called decentralized process. In this process the

power has given to the officers who can take the decisions at their own level

which is conventional and daily routine based. For instance a branch manager

can reject the cheque, can interference in various departments, can stop their work on

emergency basis, and can take the decision on fire alarming situation

Q. No.13 HOW THEY MOTIVATE EMPLOYEES OTHER THAN SALARY?

Ans. 13 They focus on motivating their employees other than salary.

Department managers and head Provide tell employees: Where is the company

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going? What are current challenges that top management is trying to address?

How does the employee’s contribution fit and what are the opportunities in future

for them to warm up. Recognition and giving credit for good work is the way to

go. Listen the employee’s issues and also as for feedback give them the chance to

optimize their own work environment where they can perform the best.

Below image are the examples of motivation system in Silk Bank.

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Q. No.14 DIFFERENCE BETWEEN A LEADER AND A MANAGER

Ans. 14 Leadership is just one of the many assets a successful manager must

possess. Care must be taken in distinguishing between the two concepts. The main

aim of a manager is to maximize the output of the organization through

administrative implementation. To achieve this, managers must undertake the

following functions:

Organization

Planning

Staffing

Directing

Controlling

Leadership is just one important component of the directing function. A manager

cannot just be a leader. He also needs formal authority to be effective. In their

organization, for any quality initiative to take hold, senior management must be

involved and act as a role model. This involvement cannot be delegated.

Q. No. 15 RECRUITMENT AND SELECTION PROCEDURE OF SILK BANK

LIMITED

Ans. 15 All current openings are posted on their website and updated weekly by

Human Resources. Candidates who are interested in an open position with Silk Bank

must complete an online application through their website for consideration.

Candidates are encouraged to attach their résumé to their profile during the

application process.

1. Candidates are invited in to do a written test

The written test comprises of a combination of the following tests, with varying

difficulty levels for different positions:

Logical aptitude / reasoning

Quantitative / numerical aptitude

English language

General socio-economic and Banking Awareness

2. Once candidate pass the test, they are invited for a interview with their first

line supervisor interview

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3. Then we will call you for interview with HR department and finally with

branch manager

4. Once candidate clear the interview they briefed on the terms of employment

and provided an appointment letter

5. Candidates are almost there! Candidates undergo a medical exam and after

all clearances joins the Bank

6. They are defines about job responsibilities and duties by department head.

Q. No. 16 RECRUITMENT SOURCES USE BY SILK BANK

Ans.16. They uses all three main sources for recruiting best manpower for their

organization. They do internal hiring to recruit employees upward or laterally within

the company because little or no training is needed, and expenses that include

advertising for a new employee and running background checks are spared. They also

use External sources like news paper, billboards and Television advertisement.

Following is an example of newspaper ad placed by Silk Bank. They also hire

employees by third party contract and on contractual basis. They work with Fulcrum,

Peoples, Prime HR and first solution for recruitment purpose.

Q. No. 17 SELECTION, INTERVIEW AND TEST

Ans. 17 Introduction:

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Employee selection is an important part of the Bank’s success. If HRM

department of the Silk Bank able to select right employee in the right place

then the employees able to perform their job effective and also achieve their

goal as well as bank achieve its goal. To make the selection activities

successful, a lot of careful planning and careful thought is required. The

selection process is composed of a number of steps. Each of these steps

provides decision makers with information that will help them predict whether

an applicant will prove to be a successful job performer.

The Selection Process of the Silk Bank Limited:

Appropriate selection procedures must be used for each post. Procedures may

vary at its simplest this may involve a strength forward interview and skills

testing. For more senior posts psychometric testing, presentations to the

interview panel on a chosen topic and services of individual interviews on

various topics may be included. But in case of regular recruitments the

selection process is a three-stage journey.

1. Initial Screening:

Initial screening is the first step in the selection process whereby inquiries

about a job are screened. This initial screening is a two step procedure-

The screening of inquiries

The provision of screening interviews.

2. Application Received:

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The application forms received by the closing date will be short listed in order

of merit. The applications must be chosen against the person specification.

This selection may be based upon the following:

SL No. Criteria Existing Staff New Candidate

01 Basic Education

02 Technical Education/ training

03 Period of Experience

04 Type of Experience

05 Quality of Application

06 Location

07 Reference:

3. Written Test:

The Human Resources Division will call some or all of the short listed

candidates to a written test, held by itself or being arranged by some other

institution (i.e. IBA etc) under contract. The result of the written test will be

treated as confidential.

4. Comprehensive Interviews:

Comprehensive interview is a selection device in which in depth information

about a candidate can be obtained. Those applicants who pass the initial

screening, application form, and required tests are typically given a

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comprehensive interview. The applicant may be interviewed by HRM

interviewers, senior managers within the organization, a potential supervisor,

potential colleagues or some or all of these. The comprehensive interview is

designed to probe areas that cannot be addressed easily by the application

form or tests, such as assessing one’s motivation, ability to work under

pressure, and ability to adjust in the organization.

The Human Resources Division of Silk Bank who will also make the

necessary housekeeping arrangements for the interview will call those

qualifying in the written test for an interview. This includes time tabling the

interviews and supplying the following to each member of the interview

committee:

Copies of application forms /CV’s

Blank interview report forms

A copy of the job advertisement (if applicable)

A copy of the job description

The Bank Management will constitute the interview committee, preferably

with three members. The assessment of the interview committee will be on the

following basis:

SL No. Criteria Marking

01 Knowledge (Current affairs/ Subject/ Job

Related)

02 Applicants perception of abilities

03 Applicants view on career

04 Enthusiasm

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05 Confidence

06 Communication Skills

07 Smartness & Behavior pattern

Past Experience (if any)

5. The Realistic Job Preview:

The Realistic job preview indicates a selection device that allows job

candidates to learn negative as well as positive information about the job and

organization. The primary purpose of any selection device is to identify

individuals who will be effective performers. But it is not in an interviewer’s

best interest to find good prospects, hire them, and then have them leave the

organization. Selection should be concerned with reducing voluntary turnover

and its associated costs. By providing Realistic job preview, organization able

to achieve that goal. The Silk Bank Limited provides the realistic job preview.

6. Background Investigation:

Background investigation is the process of verifying information what the job

candidates provide. The SILK BANK takes Background investigations to

verify that what was stated on the application form is correct and accurate

information. This can include contacting former employers to confirm the

candidate’s work record and to obtain their appraisal of his or her

performance, contacting other job related and personal references, verifying

the educational accomplishments shown on the application.

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7. Provision of Service Rule:

The service rule of the Silk Bank Limited clearly states a few conditions

regarding Appointment. This includes Educational qualification, Age limit,

and commencement of service, service agreement, probationary period and

eligibility for confirmation. They are both directly and indirectly related to the

recruitment process. For clarification, the clause on educational qualification,

age limit are directly stated below:

Educational Qualification:

The minimum qualifications of reappointment to various posts otherwise

than by promotion from a lower category or post shall be as given in

Appendix –01 provided that the qualifications may be waived or other

qualifications may be prescribed in special cases by the Broad.

Age Limit

A candidate shall not be less than 18 years of more than 30 years of

age for fresher at entry level at the time of appointment to the Bank’s

service. The age limits may be relaxed by the competent authority in

suitable cases.

Offer of Appointment:

When all candidates have been interviewed the interview committee will send

the result to the Human Resources Division for appointment on merit basis.

Accordingly, Human Resources Division will arrange to inform the successful

candidates as soon as possible agreeing a commencement date and starting

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salary. Such an offer of appointment can only be formalized after the

successful candidate meets the following conditions:

Signed letter of offer of appointment to signify acceptance of officer

Medical fitness report.

Copy of all academic certificates

Clean reference report

Signed sureties bond.

Types of Appointment:

The successful candidates are then appointed in the Bank as per terms of the

appointment letter. However, all employment is not of similar nature. It

mainly depends upon the Bank the type of appointment it will offer to a

candidate along with the level of salary, allowances and other benefit package.

The bank will offer such a package that will maximize its interest as well as

not to discourage the successful candidates from accepting the offer of

appointment. Recruitment in the Bank takes the form of the following

appointments:

o Permanent Regular appointment:

Such appointment can be offered to all Bangladeshi nationals who are 30

years or younger, having some or no work experience. We usually refer to

them as entry level officer who have to serve not less than six months of

probation period before being confirmed at the service of the Bank. The

appointment structure of the entry level officers is shown below:

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Primary appointment After confirmation Educational Qualification

Management Trainee Executive Officer MBA/post Graduate in any

discipline

Officer on Probation Officer Post Graduate

Junior officer on

probation

Junior Officer Graduate

Junior Cash officer on

probation

Junior Cash officer Graduate

However, in case of more experienced persons, the age limit could be

extended up to 55/60 years, for offering appointment on regular service. Such

appointments should be dealt with on a case to case basis according to the

approval of the Managing Director.

o Contractual Appointment:

Contractual appointment is usually to experienced and skilled persons

particularly for senior and mid level executive posts. Usually such

employment is for not more than 3 years although it may be renewed for a

further period/ term at the discretion of the appointing authority. The age limit

for contractual appointments should not exceed 65 years. The salary and

designation of such appointment should be based on his previous salary

structure and designation held. However, Bank Management will decide his

appropriate designation, contract period and salary package. Board of

Directors is informed about such appointment/ renewal.

o Temporary/ Casual appointment:

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Such appointment is offered only for reasons that compel hiring of more

manpower beyond the existing available from permanent staff. Casual

appointment is usually allowed for staff and sub-staff level due to temporary/

increased workload. The salary of casual employees will be calculated on per

working day basis, approved by the Board of directors.

Q. No. 18 TRAINING AND DEVELOPMENT SECTION CONTRIBUTION

Ans.18.They ensure that employees under their supervision are trained in a

timely manner, identify their needs for improvement in their present jobs and

to provide information and guidance

Training specialists are responsible for coordinating new-hire orientation.

Without training specialists to conduct orientation, department supervisors

would be responsible for training new workers.

And also teach employees to watch for:

New account fraud – setting up accounts based on stolen identity or

personal information

Credit card fraud – using credit cards without authorization

Check fraud – using checks without authorization, or using fake

checks

Phishing – fraudulent attempts to get personal or company information

that can be used to perpetrate identity theft

Identity theft – using another individual's personal or financial

information without his or her consent

Q. No. 19 TRAINING AND DEVELOPMENT OPPURTUNITIES FOR

EMPLOYEES

Ans.19.Our staff has always been the focus of our planning process. Human

Resource Development has a profound impact on business processes and a

direct relationship with service quality standards. Silk bank dedicated more

than 39,000 hours of training covering both soft skills as well as job-skills.

The training programs covered service excellence, selling skills, product and

operational knowledge including management skill development. In fulfilling

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our mission to be the "Employer of Choice", we invited all our employees to

an "Employee Engagement Survey''. Management also emphasizes on

imparting of training to enhance knowledge and understanding of the Bank's

internal policies and procedures and prudential regulations. This has resulted

in the strengthening of the control environment.

Q. No. 20 STANDARD JOB DESCRIPTION

Ans.20. Despite the challenges of 2009, we managed to attain an admirable

revenue growth setting the pace for sustainable performance in the future

years. We have strengthened our controls and restructured our balance sheet,

aggressively providing for portfolio impairment. We invested heavily in our

distribution and have expanded our network to 1249 regional branches in

Pakistan. We continued to upgrade the skill set of our people through training

and development, enabled further by a world class technology infrastructure

to meet the dynamic needs of our customers and making our service a truly

differentiating factor. I would like to personally thank every member of the

team for their commitment and enthusiasm, as well as all our sponsors,

associates and customers for their continued support. Below is the format of

the same. JOB DESCRIPTION

Job Title Customer Services

Officer

Job Holder (Name)

Reports to (Title) Customer Services

Manager

Indirect Reporting

(Title):

Branch/Department Branch Banking Location Countrywide

1. JOB PURPOSE (Why does the job exist?)

Responsible for handling the Bank system; Handles payments from various branch and credit card

customers. Issues travelers checks, makes salary transfers, foreign and local transfers, and reconciles

cash transactions at the end of the day. The incumbent of this role is also responsible for handling all

customer queries and complaints.

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2. KNOWLEDGE & SKILL REQUIREMENT (necessary to perform this job?)

Education & Experience:

Graduation with minimum1 to 2 years experience in a similar role, Experience in Note Sorting will

also be considered.

Technical Skills:

Proficiency in computer skills

Awareness of PR / SBP regulatory guidelines

Behavioral Skills:

Communication and Interpersonal skills

Ability to work under pressure

2. KEY RESPONSIBILITIES:

1) Handles the Bank system within the branch to take payments from customers, make

demand drafts, account transfers etc.

2) Reconciles all cash transactions at the end of the day.

3) Ensures transactions and reporting of activity is accurate and complete.

4) Ensures adherence to all regulatory guidelines (e.g. proper identification, documentation)

when handing over cash.

5) Ensures verification of all transactions and completeness of source documents, and related

supporting documents joined with the Customer Service Supervisor.

6) Coordinates with internal and external auditors to monitor and balance all financial losses.

7) Handles all customer requests in a timely manner; Looks for ways to improve efficiency

and reduce turnaround time.

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SWOT ANALYSIS

Strengths:

o Public confidence

o Sound financial strength

o Highest profitability

o Vast operational network

o Role in economic development Utility bills collections Corporate

branches

o Evening banking

o Efficient home remittance

o Recognition of hard work of staff SWIFT

o Internet access (www.silkbank.com) Pension & salaries payments

Weaknesses:

o Lack of good delegation

o Inadequate, poorly placed network technology

o Complex MIS

o Deep rooted bureaucratic approval

o Lack of long term & short term plans

o Less share in import & export business

o Poor resource utilization

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o Need better service policy

o Frequent change in senior management

Opportunities:

o New style management

o Introduction of new products and services

o Introduction of new technology & electronic banking

o Capital management & equity financing

o Secondary market operations

o New deposit scheme

Threats:

o Establishment of new private financial institutions & expansion

o Govt. sponsored schemes

o Political pressure

o Reducing branch network

o New products forms private Pakistan Establishment of new private

financial institutions & expansion

o New products forms private Pakistani & foreign banks

o Non-banking institutions

o Inability to change

o Inability to change

o Stakeholders interests

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PEST ANALYSIS

Political:

o Privatization policy and deregulation.

o Impact of subsidized credit affecting and Silk banks.

o Employment practices, Unions, Associations.

o Political Interference and harassment.

o Incidents of high taxation on banking industry.

Economical:

o Constraints in mobilization of public savings because of inflation.

o Staff cost.

o Operating cost.

o Bad debts

Social & Cultural:

o Inadequate human resources.

o Cultural strain to savings.

o Defaulter’s lobby.

o Declining education and work ethics.

o Inadequate accountability.

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o Adequate empowerment.

Technological:

o Inadequate communication infrastructure.

o Inadequate computer facilities

o Inadequate IT training.

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Suggestions and Recommendations

Based on the SWOT and PEST analysis of the Silk bank, it is observed that

the Bank like the other public sector industries has not been showing up to

mark performance. There is a long list of weaknesses that is given on the

previous page. Most of them are going along since long time and that all

efforts made to remove them have not succeeded. On the basis of SWOT

analysis of the Bank the following suggestions and recommendations are

given.

o Bank should try to get rid of the political influence to be able to compete

in the industry with prudent and strong policies

o The undue reliance on the public sector be minimized and ventures of

private sectors should be taken as well.

o Redefining of rules, regulations and policies should be made implemented

at all costs.

o Efforts of great importance to be made for the over the counter services of

general banking making it more simple and faster to get a better response

of the customers.

o The behavior of the employee, especially on the counter has to be strictly

monitored and checked

o Efforts should be continued to keep the powers of employees union to the

minimum, like the current situation.

o Promotions must not be delayed and should be made on time to further

increase the commitment and efficiency of the employees.

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Conclusion

The economy of the country is booming and with the investment favorable

policies and their smooth implementation, the role of banks in today’s

economy have become an important one.

The banking industry is also reaping the fruits of this economic boom by

growing rapidly over the past few years. There are a number of mergers

happening in the economy with foreign investments coming into the banking

sector.

It has been only one year since the establishment of Silk bank, and since its

establishment it has aimed to become the leading bank of Pakistan by that

provides outstanding services to its customers

Furthermore, as the bank is growing, the number of employees at Silk bank

are increasing, which shows that Silk bank is being considered as an

employer, that provides its employees with a challenging environment to work

in, where they can harness their full potential and shows confidence as an

employer by the employees of the bank.

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