For the completion of the degree program that I am currently following at NIBM/NSBM [National Institute of Business Management / National School of Business Management] which is affiliated to University College of Dublin, Ireland there is an independent study to be made in completion of Advanced Diploma in Business Management (ADBM) and a business project and industrial training for Higher Diploma in Business Management (HDBM).
To complete the business project and an industrial training I was able to participate in a six month [June 2015 - December 2015] internship at a leading licensed commercial bank which is Sampath Bank PLC, Sri Lanka.
I was assigned to the Development Banking Unit of Sampath Bank PLC. It was located in the heart of the city of Colombo, Sri Lanka.
It was a great learning experience and as my first professional working experience, I was able to gather many skills that helped me to improve myself as a person and a professional and also things that I can use to the future.
In summary, those are,
(01) Professional Skepticism
(02) Research skills
(03) Business ethics and practice
(04) Basic Functional role of a credit officer in a Licensed Commercial Bank and the basic banking functions
During the six month internship, I was able to analyze and study microfinance documentation - creditor personal information & credit papers, use of financial spreads or statements, study project financing through the preparation of credit papers & reviews and conducting an industrial training on par with academic life.
As a special note, I should say the support from the department I worked was extremely helpful in understanding my limitations and educational backgrounds.
From manufacturing companies, power plants[Renewable energy plants, wind power plants and solar power plants], hotels and many small and medium enterprise [SME] level companies were studied, and relevant background research was conducted for risk management purposes, project feasibility analysis, credit papers & reviews based on fund disbursement to the debtor were conducted during the six months which was one of my major tasks during the internship with the guide of my senior supervisors at the bank.
There is special risk management (RM) Information system used by Sampath Bank PLC, which is 'Kalypto' (Brand name of the Risk Management System).
This RMIS allows the bank to make the relevant risk assessment of the client based on the audited financial statement (AFS) for the relevant financial period and accordingly continuos credit disbursement is conducted to the client. Other external factors are also taken into consideration based on the guidelines of the Relationship Manager.
And also during the six (06) months I was able to analyse and study an environmental management system (EMS) proposed to credit departments who finance projects that have a significant relevance to the nature and environment, and with special reference to the environmental management (EM) module from the HDBM I was able to provide suggestions for the EMS which is prepared according to the guidelines provided by Asian Development Bank (ADB) affiliated with the Central Bank of Sri Lanka (CBSL) in order to empower licensed commercial banks of Sri Lanka to achieve sustainable development in the country.
I also conducted an analysis of customer orientation of licensed commercial banks of Sri Lanka with special reference to the Licensed Commercial Bank I worked [Sampath Bank PLC] was conducted as an additional project.
The following analysis of the customer orientation and customer services of licensed commercial banks in Sri Lanka was conducted through theoretical knowledge of marketing management and by doing a field study of visiting the relevant organizations to identify customer service, its effectiveness, and efficiency (productivity) to the customers and by that adopt proper measures to avoid customer dissatisfaction.
The internship I did in the banking sector was in the development banking department which every bank has as a credit unit. It provides financing for business start-ups and other different projects as I mentioned above, I was under the sub-division of microfinance and project finance.
Under that, I was also able to go through a training project organized and sponsored for managers of Sampath Bank PLC conducted for competency development on entrepreneurship and SME project financing. This training was conducted by CEFE Net: Sri Lanka [CEFE - Enterprise Education for Success], a member of CEFE international.
And also for the partial fulfillment of the HDBM, a study to identify the reasons for low market share for - Microfinance Loans of Sampath Bank PLC, a research was conducted with special reference to northern and eastern provinces of Sri Lanka.
This was management research covering the subject matter of microfinance theories, human resource management, and marketing.
And overall I was able to participate in financial clients management as well. Many of the banking terminologies were able to be learned during the study of 6 months allowing me to understand the industry norms and its functions and how it affects the business of LCB's.
The skills and knowledge gained were not done simply. I had to use some tactics to get the maximum out of the internship.
(01) I showed eagerness to learn. I was new to the banking industry and I was able to establish myself among the others and also to maintain a good rapport among superiors.
(02) I did extra work. I was able to execute some of the external personal skills development.
(03) I was able to maintain a personal learning journal to refer to when there is a need to study them.
(04) I worked late. Come early.
(05) I was patient and was able to learn my skills development without ego for myself.
These are very common traits and I'm not saying I did a perfect internship.
These are the feedback to improvement from my seniors after an internship on my last day.
- Boss / Head of the department [Mr. Asantha Punchihewa] ->
Very impatient and careless. If you work on impatience you will be able to increase your accuracy and productivity.
And also try to manage personal relations with all management tiers equally.
- SME: Senior Relationship Manager [Mr. Ranjith Abeykoon] ->
Your 24 years old. While the degree is completed try to get another qualification and work experience because you're gonna need a good job by '30s.
- Project Finance: Senior relationship manager [Mrs. Nelum Fonseka] -> Learn to prioritize thing that matters most. Especially for education.
- Project Finance : Executive [Mrs. Dhananjie Disanayake] ->
(01) Concentration and memory
(02) Discipline (Respect the seniority)
Overall as a summary, these are the personal learnings.
(01) Don't go by the book.
(02) Study well and balance work.
(03) Concentration.
References
Images
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- Title: Internship (2017). Format: (Jpg.). Available at: https://www.shutterstock.com/image-photo/internship-benefits-businesseducation-conceptual-416331709?src=PvIeSCMMfY9jhOCypTpidQ-1-0 (Accessed date: 4/10/2017)
