COBCAM 2017 Inauguration Ceremony

The Inaugural Ceremony of COBCAM 2017 began with the ceremonial lighting of the lamp by the Director, Dr. Madhu Veera Raghavan, Admissions Chair, Professor Aditya Mohan Jadhav, BKFS Representative Mr. Dhanyakumar Malali and the Key Note Speaker of COBCAM 2017, Mr. Deepak Reddy, Group Head HR, Bajaj Finserv.

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Professor Aditya Mohan Jadhav emphasized the grounded industrial exposure the students of TAPMI get by the very structure of the curriculum. Dr. Madhu Veera Raghavan opened COBCAM 2017 by sharing his dream for TAPMI to be one of the top 10 Business Schools in India and for BKFS students to play an integral role in the financial services sector. He stressed on continuous revival and revamping of the curriculum to keep in constant touch with the changes in the industry.

The Key Speaker, Mr. Deepak Reddy refreshed on some of his fondest memories and biggest learnings as a TAPMI student. He urged the students to learn as much as possible in as many diverse sectors and fields. He noted the change in the perception of the consumers towards the banking industry and how that the most important factors that influence the success in the banking service sector are customer’s ease of obtaining information and customer fulfillment.

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He praised the change from the traditional banking practices to modern digitized methods which vastly reduced the processing speed. While this has greatly increased customer satisfaction, it has simultaneously reduced employment requirements; replacing man with machine. A case in point, he reminded the students that the financial sector is highly volatile with uncertainty around every turn.

On what he expects from students and future leaders, he demands that we find our purpose in life; a field where we can create an impact and lead change. He also stressed the importance of being socially aware and developing capabilities to collaborate with other individuals. He urged the students to work hard and learn continuously.

The insightful and informative speech set the tone for an evening of learning at COBCAM 2017.

MANTHAN 2017: DAY 1: Inaugural Ceremony

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The inauguration ceremony of Manthan 2017, the annual budget conclave of T. A. Pai Management Institute, Manipal was held today. The theme for this year’s event is “Evaluate Empower Exceed”. It started off with an insightful address to students by the Director-in-chief, Prof. Gururaj Kidiyoor and was followed by an informative speech by Prof. Madhu Veeraraghavan. He spoke about the TAPMI Finance Lab and the intent behind establishing it. It was started in the year 2013 and was established with a vision to position TAPMI as a leader in Banking and Finance education in the country. This goal is continuously pursued by training students in real time trading and investments in one of the finest finance labs in India today.

TAPMI has always strived hard to make its finance courses industry relevant and SMIC is one such course. Students today are neither interested in learning only theories, nor they want to limit themselves to writing papers and journals. They want real world experiences and this is explicitly the reason why SMIC was introduced as a course. SMIC is a course specially designed for students to train them in the art of investment. Students learn the fundamentals of trading and are provided real money for investing. This differentiates TAPMI from other colleges where trading happens only through simulations and lack real-time experience. With the vision to bridge the gap between theory and practice, SMIC provides hands-on experience to the students for growing and developing to become successful investors.

The ceremony was followed by the SMIC presentations. It was indeed an extremely proud day for TAPMI to celebrate and demonstrate excellence through the 11 teams who worked really hard for days and presented their portfolios before the industry experts.  The teams comprised of both PGDM and BKFS students. The students got an opportunity to act as real-world investors and present their investment ideas before industry experts. The judges reviewed each team’s work and provided suggestions after finding out weak areas in each plan. The feedback from the judges was a great value addition for the teams and helped them identify areas of improvement.

“Digitization in Finance” – Mr. Rahul Malhotra, CFO and Vice President, BFSI Vertical, Genpact.

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In an informative session with students, Mr. Rahul spoke about how drastically the expectations from finance have changed in the recent past and how digitization has played a major role in achieving this. Today every facet of the industry is being impacted by word Digital. Digital is commonly confused with technology but it comprises of much more. It is how a firm’s function, processes and structure is being transformed. “Digital is coming up with ideas to make the work you are doing more refined, organised and simple”, he said.

He spoke about how everything today from organization’s processes and basic foundations to the structure is being automated resulting in a completely digitally driven business. Companies are eager to implement new ideas and things are changing so fast that you can never apply the same concepts. Therefore it is very important for us to quickly adapt to this change.

Digitization can mean different things to different organizations at different times. With numerous technological changes happening, an organization will get confused if it doesn’t have a clear line of vision on what it wants to achieve. Digitization has to be driven precisely by the need and vision of the organization.

Moving further, he talked about the importance of human touch while digitizing. Firms in the aim to digitize are removing the human factor completely. An example of this is how Neural Chat is being worked upon as an experiment by banks to change customer experience completely. In an era, where everything is being automated and robots are taking over, firms must realise that the human factor is still important to deliver customer experience. Digitization is of no use if it doesn’t translate to superior customer experience. The main aim of any business is to make the customer happy. You may have the best system, processes but it will not work if the customer is not happy with the services you provide.

Companies also need to ensure that their front end and back end are streamlined and work hand in hand. Today companies are trying to be objective and use analytics and science in every process. A firm’s customer interaction might be superior but if your backend is weak the process will fall apart.

Moving on he spoke about how Digitization is impacting three broad areas of any business: customer service, operational processes and business model. He talked about how Genpact is helping its clients with their strategy that can help them impart the customer experience and type of operational processes they desire.

He concluded by telling how the world is changing to a digital world which reduces jobs but increases capacity. Today, expectations and roles of Finance in an organization have completely changed. Finance has a role in every major decision of the firm irrespective of the department. The main reason which has led to this change is that with the amount of data available, you need tools such as predictive analytics and forecasting for taking a decision and that requires the help of Finance.

FINOMENAL 2016: DAY 2:”CAREERS IN FRM”-Mr. Lalit Taneja, Regional Director, Global Association of Risk Professionals

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In an interactive session with students Mr. Lalit Taneja, Regional Director, Global Association of  Risk Professionals gave the students insights about the various career prospects in the field of Financial Risk Management. The session started off with him telling the students about the key forces driving the demand for risk managers. Before 2008 financial crisis market was driven by sales then post the crisis operations took over and presently the focus has completely shifted to regulation. This demand is the result of many historical drivers some of which are globalisation and integration of markets, increased product complexity, technological advances, regulations and market crisis. Sovereign risk, commodity market volatility, increased focus on organizational risk are some of the factors that have recently further accelerated the demand for risk managers.

He further stated why people are increasingly shifting to jobs in the field of FRM. Financial Risk Management assesses an individual’s ability to measure and manage risk in a real-world environment. What sets FRM apart is reliability, maintenance, validity, and acceptance. In the recent years, new trends have been constantly emerging in FRM. Due to current issues like cyber risk, liquidity risk, and regulatory stress, FRM has become a prerequisite for every organisation. GARP plays an active role in monitoring the work of certified FMR practitioners.

As the session approached its end, he concluded by stating some of the latest trends shaping the role of risk management which includes regulations, technology, advanced analytics and the emergence of newly arrived risks such as model risk, cyber security risk, and contagious risk. With these emerging trends, companies are gearing up to tackle these risks. Organisations are imparting risk education to their employees and are encouraging them to learn by providing benefits like exam preparation leaves, study groups in office and in-house course instructor.

Finomenal 2016: Day 2: Closing Ceremony

The Closing ceremony saw batch address by Prof Animesh Bahadur, Dean of Admissions, Mr. Harsh Upadhyay, Chief Guest, Prof Aditya Mohan Jadhav, BKFS- Area Chair & Convenor & Co-Convenor of Finance Forum, Ms. Shruthi Chander & Ms. Monica Veer.

Prof. Animesh Bahadur appreciated the events of FINOMENAL and explained how the events & guest lectures gave a glimpse of what the practitioners & veterans from the field of finance feel about this discipline. In his opinion, he felt that the events were fruitful and was positive that the students gained a lot from this 2 day event.

Mr. Harsh Upadhyay spoke about how the events must have given perspective to students who wish to make a career in finance and what it takes to be a finance professional. He also mentioned about how this must have been especially important for the BKFS students who are into a specialised finance program. He also mentioned about the importance of communication skills which will go a long way not only during placements but also in the corporate world.

Prof Aditya Jadhav spoke about how the Finance Forum has grown over the last 3 years. He applauded the efforts of the students, members of the various committees and the management for doing an excellent job for the event. He thanked Prof Animesh Bahadur, Ex-Director Prof RC Natarajan, Prof Seena Biju, Prof Madhu Veerraghavan, Prof Vidya, Alumni Relations Committee, Prof Surya Mahadevan & Mr Nayak & Mr Ananth Pai for taking care of all the organisational responsibilities.

The ceremony concluded with Ms. Shruthi Chander & Ms. Monica Veer expressing their thanks to all the participating teams for making the event such a success, Professors of TAPMI and the committees namely, the Student Council, Literary & Media Committee (LiMe), Welfare Committee, Alumni Relations Committee (ARC) & the Logistics Committee for their continuous support.

FINOMENAL 2016: Day 2: “Corporate Bond Market in India”- Mr. Atul Khadilkar, Member- India Management Committee and Head- Financial Institutions Group, South Asia (National Australia Bank)

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Mr. Khadilkar started the lecture with discussing the usual financing options available to the corporates in India and where India stands in terms of the bond market in the global context.

A company starts with investing their own Equity in the business but there are other sources such as debts in the form of loans from banks and the bond market. Both the equity market and the debt market consists of a wide range of market participants. Drawing a comparison between loans and bonds, he explained how banks chose between loans and bonds. Loan in a bank is a bilateral arrangement and has its own risks and challenges attached to it, and is therefore no longer the most attractive source of income for them in today’s market. On the other hand, bonds are more standardized and liquid in nature. Unlike loans, bonds are also rated, which attracts a wide range of investor pool. So, bonds are better than loans in these aspects and therefore there is a need for the development of the bond market in India.

He also gave an overview of the Indian bond market in the global context, in comparison to some of the developed and developing economies like the US and Japan.

Talking about the creation of demand for bonds in the Indian market, he discussed why the country needs it in terms of infrastructure financing, GDP growth and the Government’s take on fiscal discipline. He also discussed the working of the RBI Working Group in the Indian financial market.

In the end, he concluded by discussing the various kinds of bonds avaiable to the investors today in the Indian market, how the bond market is evolving in the financial system and will bring about a sea change in the coming years for banks and corporates, not only in India but all over the world.

FINOMENAL 2016: DAY 1: “CCAR Stress Testing”-Bharat Gupta 2nd Vice President (Team Lead), Model Risk Management at Northern Trust Corporation

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Mr. Bharat started interacting with the students by discussing the 2008 subprime crisis and how it affected the banking industry. He explained the entire phenomenon unfolded by taking examples of certain important banks involved. How the investors, banks, investment banks and the insurance companies in the US were involved in the crisis, which ultimately led to the collapse of the entire financial system.

Comprehensive Capital Analysis & Review (CCAR) is one such supervisory exercise that is being run by the Federal Reserve since 2010 after the sub-prime crisis as a stress test for American banks, in order to keep a check so that they maintain sufficient capital for liquidity. This was because the regulator felt that the banks had inadequate levels of capital planning and the estimation of Risk-Weighted Assets wasn’t proper. CCAR uses sophisticated financial models, which are linked to Macroeconomics to identify the losses that the loans of a bank can make and whether it has sufficient capital to take care of its liabilities in that situation. He also discussed the various banks in the US that have been a part of this CCAR exercise and how the system is becoming less risky because of it. He further explained, how models like the Pre-Provisioning Net Revenue (PPNR) are built by banks using macroeconomics in order to maintain capital under the CCAR regulation.
In the end, he spoke about the various opportunities that the area of CCAR holds for the students of management in the industry.