Download 1ST QUARTER BUSINESS PLAN

THE SOCIOLOGIST AS A BANKER IN
THE 21st CENTURY - PROSPECTS &
CHALLENGES
PIUS ADESAKIN
February 20, 2015
DEFINITIONS OF RELATED DISCIPLINES
• Sociology – a social science or field of study with
societies, human relationships or people’s patterns of
behavior in groups as its main focus
• Sociologist – one/Social Scientist who studies societies,
human relationships or people’s patterns of behavior in
groups
• Anthropology – Scientific study of people, their culture(s)
& societies, usually simple or lower societies
• Anthropologist – one who studies people of simple/lower
societies & their culture(s)
DEFINITIONS OF RELATED DISCIPLINES cont’d
• Ethnology – Scientific study and
comparison of different races of
people
• Banking – Financial intermediation
between surplus and deficit areas of
the economy
DEFINITIONS OF RELATED DISCIPLINES cont’d
• Banker – a person who studied banking
or is trained to anchor any or all of the
arms of financial intermediation namely:
deposit taking, loan creation, operation,
treasury dealing & management,
cashiering/tellering, financial control,
audit, reconciliation etc
FRAMEWORK
WHY STUDY SOCIOLOGY?
(1) KNOWLEDGE & CARREER PATHING
(2) AS FOUNDATION/GOOD BACKGROUND FOR
OTHER PROFESSIONS OWING TO ITS MAIN
THRUSTS AS (a) A STUDY OF SOCIETY, ITS PEOPLE
& SOCIAL RELATIONSHIPS and,or (b) THE
DEVELOPMENT OF A BODY OF KNOWLEDGE
AND SKILLS ON HUMAN ACTIVITIES & SOCIAL
RELATIONSHIPS THAT CONNECT INDIVIDUALS,
GROUPS & INSTITUTIONS
PROFESSIONS OPEN TO SOCIOLOGISTS
Professions open to Sociologists include, but are
not limited to the followings:
• POLICE & THE MILITARY
• SOCIAL WORK
• MASS COMMUNICATION/JOURNALISM [Print &
Electronic Media, Advertising, Public Relations]
• MARKETING
• INDUSTRIAL & LABOUR RELATIONS
• BANKING
• POPULATION & DEMOGRAPHIC INSTITUTIONS
PRE-LIBERALISATION ERA/LIBERALISATION [OF
STAFFING] ERA OF BANKS
HISTORY GRADUATES – ENGAGED AS ADMIN.
MANAGERS OWING TO THEIR
KNOWLEDGE OF THE KINGDOMS & LEADERSHIP
STYLES OF MANSA MUSA, UTHMAN DAN FODIO,
SHAKA DE ZULU etc
LATE 1980s to date – (1) O. Olagundoye –
Elect. Engr. – MD of Chartered Bank & National
Bank (2) Chika Mbonu – Chem. Engr- MD of Citizens
Bank & Nigeria-Arab Bank (3) Emeka Onwuka –
Political Scientist – MD of Diamond Bank & Chairman
of Enterprise Bank (4) Segun Oloketuyi – Biochemist –
MD of Wema Bank
PROSPECTS OF SOCIOLOGISTS IN BANKING
The reliance of other fields, particularly banking, on the
knowledge of Sociology is what can be called Applied
Sociology.
Even though banks welcome applications from
Graduates of other disciplines for several reasons, good
impact can be drawn from such fresh Graduates after
in-house and sometimes, external training & retraining.
PROSPECTS OF SOCIOLOGISTS IN BANKING cont’d
The immediate attractive fields of study are Banking,
Economics, Business Administration,
Accounting/Accountancy, Sociology, Mathematics and
Statistics.
But it should not surprise anyone to find Engineers,
Architects, Surveyors, Chemists and Physicists working as
Bankers because it is generally assumed that such people
Have been trained to have analytical minds needed in the
Field of banking
PROSPECTS OF SOCIOLOGISTS IN BANKING cont’d
Sociologists are engaged in banking because of
(a) the need to properly manage customers
affairs and their perceived background in and
knowledge of human society and social
relationships (b) the would-be employer’s
expectation that the knowledge in(a) will be
brought to bear on the job
RECRUITMENT REQUIREMENTS AND
LIKELY AREAS OF DEPLOYMENT
Requirements:
• Minimum of 2 Class Lower?
• ACIB, ICAN, MBA will give competitive edge
• Computer Literacy & Analytical mind
Likely Areas of Deployment – Human Resources, Marketing,
Operation, Relationship Management and Product
Development. However, Corporate training, self
-development/application can make a Sociologist veer into
other areas like Market Research/Strategy, Treasury Dealing &
Management, Credit Analysis, Financial Control, Audit
KEY SUCCESS FACTORS
• Computer Literacy – to determine the
outcome of a banking deal or prepare reports
• Self-development & application
• Developed body of facts/knowledge through
training e.g. as an HR person, you do not
engage closely related individuals (couples,
father/mother and children, siblings etc) in a
bank because of possibility of connivance or
disciplinary requirements
KEY SUCCESS FACTORS cont’d
• Intuition – ability or feeling to understand certain
situations without being told or any concrete
proof e.g. staff who have the tendency to live
above their means are likely to commit fraud and
should not be further tempted by exposure to
cash, through posting
• Concepts of ‘Internal & External Customers’ –
Colleagues are Internal Customers & there is the
need to forge good relationships with them to
succeed in serving the bank’s External Customers
LIKELY AREAS OF DEPLOYMENT emphasised
• CASHIERING/TELLERING –
Needed:
Integrity
Being @ home with figures/calculations
Good appearance/presentation
Communication skills
. HUMAN RESOURCE DEPARTMENT –
Needed:
Organisational ability for interviews & trainings
Skills for Investigation with regards to frauds
Skills for computation of salaries, wages & benefits
LIKELY AREAS OF DEPLOYMENT emphasised
• GENERAL SERVICES –
Needed:
Integrity
Negotiation Skills for procurements, servicing &
maintenance of assets
Ascertaining departmental requirement of assets
Deployment of a certain category of staff e.g service
staff
LIKELY AREAS OF DEPLOYMENT emphasised
• MARKETING –
Needed –
Integrity
Communication Skills
Ability to determine the cost of maintemance &
profitability of accounts [transfer pricing]
Ability to scan business environment and create risk
assets
Ability to analyse related industries and identify
inherent risks & mitigants
LIKELY AREAS OF DEPLOYMENT emphasised
• RELATIONSHIP MANAGEMENT –
Needed
Good communication skills
Ability to determine/identify customer needs,
complaints & proffer solutions
Attendance @ social events
Communication of latest developments to
customers (ATM charges, BVN)
LIKELY AREAS OF DEPLOYMENT emphasised
• PRODUCT DEVELOPMENT –
Needed:
Ability to read and interprete financial news
Determination of customer needs
Offerings of competition – like products &
pricing
Features & Benefits
LIKELY AREAS OF DEPLOYMENT emphasised
• MARKET RESEARCH/STRATEGY –
Needed:
Ability to garner and distill financial news (even
though Economists are engaged for this,
Sociologists in banking need to develop this skill
to stand alone as Managers, Marketers and, or
Analysts – e.g. Federal Government Budget, drop in
oil price to $50/barrel and the implications
CHALLENGES
• Likely computerisation of staff functions & the
implication for disengagement of staff by
banks – Self-development in more areas
• Some Sociologists dread figures, thereby
limiting the no of departments open to them.
(a)School curriculum should include Social
Statistics & Social Research (b) Further
personal development – MBA, ACIB, ICAN,
NIM etc
CHALLENGES cont’d
• Wrong Values – People see working in banks
as only synonymous with high renumeration
(mostly true) but too much emphasis on this is
the root of many frauds. Emphasis should be
on making a good career of the profession.
Monetary reward should be secondary
*FOR ME – empowerment to meet customer’s
needs and get his/her satisfaction is more
rewarding
PERSONAL EXPERIENCES
MILESTONES
November 1993 – Joined Chartered Bank as
Assistant
Supervisor/Teller/Marketer/ Credit Officer
1996/1997 – 2000 – Treasury Dealer/Officer
2001-2004 – ALCO Secretary/Clearing Manager
2005-2011 – Branch Manager
2012-2014 –Branch Manager/Ag. Regional Head
THANK YOU