Banking & financial services: skills matrix
Why are assessments important in this industry?
With global players pitching in, there has been a gradual move towards enhancement in services and technology. This has meant that people become an extremely vital aspect of success. Given this, assessments have become the lynchpin of mass recruitments in BFSI. The situation is also largely affected by the dearth of talent. Some reports indicate that the employable people among our graduate talent pool is at about 10-15% of the total.
For what job roles are the assessments used?
Significant investments are being made by companies to develop a friendlier customer interface. Companies have started to ramp up on their clerical, sales, customer service and back-end support people to add value. Realisation of the value brought by assessments has driven companies to deploy assessments in recruiting at managerial levels too.
What are the skills needed?
The jobs require varied skills like communication, aptitude and numerical skills, along with the domain-specific skills. Clerical roles require an abundance of domain skills along with numerical aptitude. Sales and customer roles require skills like fine communication along with an ability to learn fast. Finally, the sector has its unique dynamics where assured business is based on relationships — even new customer acquisitions are done by promising long-standing relationships.
What are the assessments used?
Assessments, as ever, are based on specific requirements of a role and can be customised for a company. In general, clerical jobs require proficiency in accounting, attention to detail and typing and computer skills, along with knowledge of the fundamentals of the segment. Customer-facing roles such as sales and customer service require good communication along with learning and problem-solving skills. But the overriding factor is to have a customer service orientation. Personality assessments, too, are used for managerial positions. Customised assessments can be developed for niche profiles such as risk analysts and underwriters.