Hashruti completed her junior college and pursued Bachelor's in Accounting and Finance from H.R. College of Commerce and Economics along with CA. According to her the best part about HR College is that you get opportunities to apply to various top companies for placements.
What was the selection procedure? How did you get this job?
The interview entailed two rounds, one with HR and the other with a Manager. I had taken 2 months to think and analyze what work I exactly want to do and which company would fulfil those requirements. An HR outsourcing agency had contacted me regarding an opening for this job so I decided to explore it. After the interview, the onboarding process was quick and smooth. Since I didn’t have a lot of experience, the questions were mainly related to the things going on in this industry at that point in time. One major discussion was about the IL&FS scandal which had just taken place at that time so they asked my opinions about the same. They also asked me about my background and where I worked before to see if I could handle the work pressure and had the required communication skills to take up this role.
What were your title and responsibility? What was your day-to-day work?
I have the title of a Credit Analyst. Whenever a proposal is received from the business teams for lending-related purposes (an amount needed by a client), the business is required to get a sign-off from the credit team which includes me. They provide us with all the necessary documents for this proposal, so we go through the financials, and make projections for the financial model which analyzes whether if we lend in the future would they be able to repay that amount. After this proposal is accepted, I would make my own deliverable which would be a rating rational document to highlight the strengths and weaknesses of the proposal. We also issue internal ratings for our internal teams and management to know the creditworthiness of that company. All these documents would go to the committee which would include the directors of the bank and we would have a short pitching session as well.
What were some of the challenges that you faced? How did you overcome them?
ICICI Bank is an Indian company and I had worked with an MNC for my articleship so there was a huge change in the working culture but eventually, I got used to it.
What are some of the essential skills needed for this role?
Analyzing and interpreting financial statements is an essential skill needed along with the use of Microsoft Excel. Being able to write professional emails and getting your work done is also important.
How was your overall experience working with ICICI Bank?
Barring some cultures of Indian companies, the learning has been immense even more than a big 4. The things I learned have been more than I could ever learn from any other job.
What do you think is a decent stipend for students who want to take up internships?
An internship in the finance field should at least have a stipend of about 10k and you could also negotiate a higher amount if you’re working with a big 4 company or a multinational bank. It is important to get the amount appropriate for you and not just settle for a less amount.
Do you think students should take up internships and why?
Internships are really important. I had to mandatorily do 3 years of articleship, in which I have gained exposure and learnt so many skills that I could now implement in this full-time job.
What advice would you like to give to freshers/ students?
First doing an internship is a must. Along with this having a good degree apart from a normal college degree is also a plus point for example CFA, MBA etc if you’re interested in the finance industry. There is a lot of competition so having something that would make you stand apart from others is important.