Finomenal 2017: Day 2 : Valedictory Ceremony

 

WhatsApp Image 2017-10-29 at 6.02.31 PM.jpegOn 29th October 2017, Finomenal 2017 came to an end with its valedictory ceremony. This year’s Finomenal was centered on the theme Govern, Strengthen and Transform. It gave a platform to bring together 13 industry experts from various domains with students from 13 different colleges. The flagship events were Echo – the guest lecture series, roundtable discussions and Accretion 1.0 where 35 teams brainstormed on mergers and acquisitions and top 6 teams competed in the final round.

The esteemed guests for the day Mr.Saurabh Sharma, Mr. Mitul Desai, Mr. Aditya Agarwal, Mr. Jayna Gandhi, Mr. Ganti Murthy and Mr. Adtiya Gadge gave their closing remarks and shared their experience about Finomenal and Tapmi Institute.

Winners of various competitions held across these two days were declared and awarded. The team from Tapmi Manipal emerged as Bloomberg Champions 2017 and SIBM Bangalore was the runners-up. In the section wars of hashtag challenge, section 1 emerged as the winner, winners of accretion were IIM Calcutta( Shubham Ranka and Vinay Sheoran)  and of govern it right which was an intra-college event were Ambrish and Nadan.

The event was concluded by the convenor of Finance forum with his vote of thanks to all the guests, committees, faculties and the students for the making of Finomenal 2017 a phenomenal event.

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Finomenal 2017: Day 2: “Banking in a time of Change” – Mr. Aditya Agrawal, Joint Vice President, TransUnion CIBIL Limited

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29th October 2017: Mr. Agrawal, in his lecture on “Banking in a time of change”, dwelt on the changing face of Indian financial institutions, driven by the technological advancements and change in customer preferences that we see today.

Quoting Frances Hodgson Burnett, “At first, people refuse to believe that a strange new thing can be done…then it is done and all the world wonders why it was not done centuries ago”, he said that disruptions in technology are transforming the banking sector. Banking is increasing turning to customer-centric models, he continued, and people are turning to their apps on their mobile phones or websites to handle their banking needs.

He then explained the evolution of the banking channels- traditional banking with physical channels gave way to digital channels, with 247365 access to services and focus on personalization. Today, advanced data analytics combined with AI empowers financial institutions with strategies to enhance the customer experience.

In India, the evolution of a new digital landscape built on JAM (Jan Dhan Yojana, Aadhar, and Mobile), is paving the way for greater financial inclusion.  The increase in payment banks, however, will increase competition in rural and semi-urban sectors, where traditional banks have to offer superior customer service and competitive products to stay ahead.

Mr. Agrawal also devoted a significant portion of his talk explaining the relevance of the emerging field of blockchain technology in banking. The blockchain is essentially a distributed ledger where each block contains a timestamp and holds batches of individual transactions with a link to a previous block. It creates secure alternatives to time-consuming banking processes, particularly with regard to online transactions.

The speed with which modern technology has developed has meant that the traditionally slow-moving financial institutions have to remain relevant to customers and competitive in the marketplace. With companies such as Google and Amazon venturing into fin-tech space, banks face more competition and bigger challenges. It is therefore imperative for financial institutions to evolve with time, becoming flexible enough to keep up with the demands of today’s society.

Finomenal 2017: Day 2: “Wealth Management and Investments” – Mr. Saurabh Sharma, Product Head-Liabilities, NRI & Payments, National Australia Bank

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On 29th October 2017, the second day of Finomenal 2017, Mr Saurabh Sharma, gave a thoughtful lecture to the students of TAPMI on Wealth Management. He started the lecture by discussing various careers in wealth management. He discussed what is wealth management and who are the investors. He then explained why investors invest and how do they decide where to invest, few methods discussed were: deciding the risk profile of a client, defining asset class allocation, deciding product allocation etc.

He encouraged students to explore investing options. Mr Sharma quoted, “Taking the right call at the right time is important while investing”. He explained a couple of investment opportunities available in the market, few of which were Mutual funds, Direct equities, Portfolio management schemes, Bank deposits, Insurance, Bonds etc. He then listed out the skill sets required for wealth management few of them being, technical skills, ability to deal with pressure, interpersonal skills, empathy and discipline.

It was an interactive session and students found the session to be very knowledgeable and insightful. Mr Saurabh Sharma engaged into interactions with the students answering all queries related to wealth management and investment.

Finomenal 2017: Day 2: “Compliance and Risk Management in Banking”- Mr.Mitul Desai, Head – Compliance and Operational Risk, National Australian Bank

Mitul-3On 29th October 2017, Day 2 of Finomenal 2017, Mr. Mitual Desai delivered a guest lecture on “Compliance and Risk Management in Banking“ in our campus. He started off by giving a brief background of himself. He then gave an overview into the various business divisions in a Banking company such as Treasury, Retail Banking, Corporate Banking, Compliance and Risk Management, Trade Finance and so on.

A significant part of his lecture was on Risk Management in Banking and the various types of risk associated in Banking such as Credit risk, Market risk, Operational risk, Regulatory risk and Technology Risk. Risk Management teams are often referred to as “second line of defence” in a bank’s risk strategy – sitting between management(1st) and internal audit(3rd). He also spoke on the significance of compliance and risk management departments and how they have become an indispensable part of the banking sector. He used examples of top banks which are investing more to strengthen their compliance department.

Mr. Mitul Desai later dwelled on the different aspects of compliance departments and some key compliance regulations in India. He then offered career advice to students who are aspiring for a career in the compliance roles within banking. He elaborated on the different skill sets which are required for successful risk and compliance professionals. He also threw light on the various career paths in risk and compliance such as jobs in credit risk, market risk, operational risk, anti-money laundering (AML) etc.

Mr. Mitul Desai later did a SWOT Analysis of Foreign Banks in India and did a comparative analysis with their Indian counterparts bringing down the curtains on what has been a fascinating discourse on Compliance and Risk Management in Banking.

FINOMENAL 2017: Day 1: “Asset-Liability Management”- Mr. Anand Bagri, Head-Domestic Markets, RBL Bank Ltd

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On 28th October 2017, the inaugural day of Finomenal 2017, Mr. Anand Bagri, gave an insightful lecture to the students of TAPMI on Asset-Liability Management in banks. He started the lecture by showing how Financial markets can be sub-divided into the money market, debt market, forex market and debt capital market. He then went on to give students an idea about various aspects of banking and financial services.

Mr. Bagri quoted, “The objective of Asset Liability management is to effectively manage liquidity risks by maintaining adequate liquidity at all times”. He went on to talk about the nitty gritty of asset-liability management in banks giving a fair view of the sector to the students. He then explained how RBI manages the liquidity in the system through its monetary policies. He also explained the various monetary tools like repo rate, reverse repo rate, cash reserve ratio (CRR) and statutory liquidity ratio (SLR) and how each of these can impact the liquidity in the markets.

It was an interactive session and students found the session very knowledgeable and insightful. Mr. Anand Bagri invited questions from students and patiently answered all their queries giving them a fair view of banking and asset liability management.

FINOMENAL 2017: Day 1: “Wealth Management and family offices” – Mr. Aditya Gadge, Founder, Priwexus

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On 28th of October 2017, the guest lecture series of FINOMENAL 2017 was initiated. Mr. Aditya Gadge, founder of Priwexus , which is a unique membership community of single family offices, prominent business families and individuals of significant wealth in India enlightened us on wealth management and family offices.

He started his lecture by stating that it is more important to know “how much can you retain and pass onto next generation than how much you earn”. He stated that the two key concerns are Health & Wealth. As a wealth planner there lies a great responsibility in managing this wealth. India lacks the concept of accredited investors. Qualified professionals and qualified investors need to know how Alternate investment fund (AIF) works.

A wealth managers job is very challenging and cannot be learnt without practice. Mr. Gadge engaged into insightful interactions with the students answering all queries related to wealth management and the prospect of having a future as a wealth manager.

FINOMENAL 2017: Day 1: “How to find the right Mutual Fund mix” – Mr. Manish Kothari, Business Head – Mutual Funds, PaisaBazaar

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28th October’17, Mr. Manish Kothari addressed a class of students on how to find the right mutual fund mix. A highly interactive session, he sailed us through what mutual funds are and it’s increasing popularity. He stated high returns and lack of other options as the driving factor for the rising investments in mutual funds today.

He added how big money in markets was made due to asymmetry in information, wherein the fund managers stepped in to bridge this gap. He also discussed and compared actively and passively managed funds and how the latter today promised higher returns. He emphasized on mutual funds as an instrument that was much more efficient and outperformed other forms of capital investment tools. Mr. Kothari also discussed the various parameters at which fund managers base their decision like financials, risks, promoters, opportunities and demand. He also listed current facts and figures in the U.S. and Indian context to weigh and understand mutual fund investment benefits and risks. He was very optimistic about the future scenario of mutual funds and was enthusiastic about the opportunities that lay ahead for the market.

He iterated how this was a highly transparent industry with information available across all platforms. He concluded by saying that the right mix of investment was an easy decision to make but the key was in understanding why and what one wanted to do with his/her money.