FINAL REPORT OF OUR FINAL PROJECT ON SILK BANK LIMITED

Jointly Submitted By:

Syed Nabeel Ali 1536 Syed Abdul Rehman Adnan Ahmed Fahad Aziz

Submitted to:

Sir Asif Jalees

LETTER OF TRANSMITTAL

To Sir Asif Jalees Iqra University North Campus, Karachi.

Sub: Memo of term project report

Dear Sir, Here is the report on Silk Bank Limited. Our report will contain three sections, each section have further more sections. We will cover all necessary things for the management of Silk Bank Limited.

Thanking you

From all group members Syed Nabeel Ali Syed Abdul Rehman Adnan Ahmed Fahad Aziz

ACKNOWLEDGEMENT

Thanks to all members of different departments of SILK BANK LIMITED who helped us in acquiring information about their organization. Thanks to Mr. Farhan Ahmed (Area Sales Manager of Silk Bank) who helped us in
providing information for our project. We would like to thanks all our parents and those people who help us in making this project. We also state our gratitude teacher Mr. Asif Jalees this is their effort, guidelines that we have completed the Project successfully.

EXECUTIVE SUMMARY

To interpret our skills and educational knowledge of Management we make a report on Silk Bank Limited. Silk bank is the Public sector financial institution. The Silk bank was established on 1949, to serve as an agent to the SBP. Silk bank head office is in Karachi. It has 1249 regional branches and 18 overseas branches. Silk bank is a 52% share owned by the Government of Pakistan (GOP). Silk bank's total assets stood at PKR820 billion on mid of 2009.This included total earning assets of about PKR268 billion with gross loan portfolio of PKR140 billion. The bank also has an investment portfolio of PKR171billion, which comprises treasury securities, corporate bonds, shares and other securities. This report is based on Silk bank? It is a famous and reputed bank of Pakistan. Silk bank maintains first position in banking sector in Pakistan. This report is based on the activities, which are performed in this bank. This report

contains Banking services, competitive analysis, SWOT analysis, bank tariffs andexchange rates of Silk bank. In this report we also observed the jobs task of the employees and we find him a lot of problems at the management level. So We Have mentioned all the problems from which the branch has been suffered have given the suggestion that can they solve branch problems?

TABLE OF CONTENT

Letter of Transmittal..2 Acknowledgement....3 Executive Summary...4 Introduction to Silk Bank.......6 Services of Silk Bank.....7 Questionnaire.8 SWOT Analysis.......30 PEST Analysis.....32 Suggestions &Recommendation.....34 Conclusion..35

Introduction to Silk Bank

Compan y Histor y
Silk Bank came into existence on March 31, 2008, a syndicate comprising of the IFC, Bank Muscat, Nomura International and Sinthos Capital led by senior bankers Mr. Shaukat Tarin and Mr. Sadeq Sayeed who acquired 86.55% stake in Silk Bank for around $213 million. Saudi Pak Industrial and Agricultural Investment Company Pvt. Ltd (SAPICO) was renamed Silk Bank Pakistan Ltd. Under the new leadership, the Bank continues to focus on SME & Consumer financing resulting in efforts of increased profitability.

Vision
Benchmark of Excellence in premier banking

Mission
To be the leader in premier banking trusted by customers for accessibility, se rvice &innovation; be an employer of choice, creating value for all stakeholders.

Values
Silkbank prides itself on being a conscientious and responsible corporate citizen with acommitment to the development of Pakistan. At Silk Bank, our employees are encouraged to give back to society and we have made concerted efforts towards the development of healthcare, education an d constructive character building sports activities in theunderdeveloped segments of our country.

Core Values
Customer Focus Integrity Teamwork Creativity Meritocracy

SERVICES OF SILK BANK

Services are the outputs of the firm, which are in intangible form. DEMAND DRAFTS If you are looking for a safe, speedy and reliable way to transfer money, you can now purchase Silk banks Demand Drafts at very reasonable rates. Any person whether an account holder of the bank or not, can purchase a Demand Draft from a bank branch. SWIFT SYSTEM The SWIFT system (Society for Worldwide Interbank Financial Telecommunication) has been introduced for speedy services in the area of home remittances. The system has built-in features of computerized test keys, which eliminates the manual application of tests that often cause delay in the payment of home remittances. Using the Silk bank network of branches, you can safely and speedily transfer money for our business and personal needs. LETTERS OF CREDIT Silk bank is committed to offering its business customers the widest range of options in the area of money transfer. If you are a commercial enterprise then our Letter of Credit service is just what you are looking for. TRAVELER'S CHEQUES Travelers cheques are negotiable instruments, and there is no restriction on the period of validity of the cheques. Rupee travelers cheque is available at all 700 branches of Silk bank this can be encashed in all 400 branches of Silk bank. There is no limit on purchase of this cheque. It is one of the safest ways for carrying money. PAY ORDER Silk bank provides another reason to transfer your money using our facilities. Pay orders are a secure and easy way to move your money from one place to another. And, as usual, Silk bank charges for this service are extremely competitive. MAIL TRANSFERS Move your money safely and quickly using Silk bank Mail Transfer service. And also offers the most competitive rates in the market. They charges Rs 50/- exchange rate and RS 75/- postage charges on issuing mail transfer. FOREIGN REMITTANCES: To facilitate its customers in the area of Home Remittances, Silk bank has taken a number of measures to: Increase home remittances through the banking system Meet the SBP directives/instructions for timely and prompt delivery of remittances to the beneficiaries

QUESTIONNAIRE
Following is the feedback generated from the management of Silk Bank Limited during the project. Q. No. 1 HOW THEY PLAN ORGANIZES, LEAD AND CONTROL THE ACTIVITIES OF THEIR TEAM? Ans. 1 For any plan they have to make feasibility where they make a monthly plan which divided into weekly plans then they establish overall strategies for achieving those goals. To organize this they lead and control by themselves with the help of their team. Below are the key points: o o o o Divide work to be done into specific jobs and departments in Silk Bank. Assign tasks and responsibilities associated with individual jobs in Silk Bank Establishes relationships among individuals, groups and departments. Allocates and deploys organizational resources. To Control the activities of the employees, Following are the guidelines. o o o o o o o Documentation Approval & Authorization Verification Supervision Separation of duties Safeguarding of assets Reporting

Q. No. 2 WHAT HUMAN SKILLS NECESSARY TO LEAD A TEAM? Ans. 2 According to Farhan Ahmed (Area Sales Manager Silk Bank), for any job based on human skills help a leader to work effectively with subordinates, peers, superiors to accomplish the organizations goals. Here a leader has to be aware of ones own perspective on issues and, at the same time, being aware of the perspective of others. Leaders with human skills adapt their own ideas to those of others. Furthermore, they create an atmosphere of trust where employees can feel comfortable and secure and where they can feel encouraged to become involved in the planning of things that will affect them. Following are the three vital skills: 8

a. Respecting and understanding employees. b. Communicate effectively c. Trust of the team.

Q. No. 3 BIGGEST CHALLENGES FOR MANAGERS IN SILK BANK Ans. 3 The biggest challenge for manager is too many targets. As you know that the manager is not only focusing on his product, but he is selling multiple products through cross selling. Furthermore, below are the other challenges which the managers of Silk Bank are facing. How to come to a new level of growth and sustainable profitability in an environment of low interest rates o Where to develop new and reliable sources of revenue o Enriching and increasing the business value of customer relationships, at a time when customer behaviors and expectations are more demanding Q. No. 4 IMPACT OF GLOBALIZATION ON SILK BANK AND HOW IT IS AFFECTING Ans. 4 According to them, they not much influenced by Globalization, the reason is that they are working under the umbrella of State Bank of Pakistan, which has set his own rules and regulations. o

Q. No. 5 MANAGERIAL ETHICS GUIDLINE FOR THE ENTIRE ORGANIZATION

Ans. 5 The Bank has adopted a statement of ethics and business practices that is signed by all directors and employees. Following are Key elements in managerial ethics: o o o o o o o Local Laws & Group Standards Confidentiality & Data Protection Suitable Products Money Laundering Insider Trading Bribery & Corruption Gifts & Entertainment 9

o o

Conflicts of Interest Dealing in Silk Bank Shares

Objectives: Code of ethics and business conduct intends to deter wrongdoing

and act as a ready reference to all the employees in maintaining compliance with the rules and regulations laid down by Silk Bank limited and would be a guide in directing the group management to ensure the observance by employees according to the stipulated policies of Silk bank and promote the following objectives:
o o o Honest and ethical conduct, including ethical handling of actual or apparent conflicts of interest between personal and professional relationship. Compliance with applicable governmental laws, rules and regulations. Promote internal reporting to designated persons of violations of the code.

Q. No. 6 CORPORATE SOCIAL RESPONSIBILITY ACTIVITIES OF SILK BANK LIMITED Ans. 6 Management without caring needs and expectations of stakeholders in

a community will not be competitive compared with those who do in the 21st century. Demand for accountability and transparency from both public and private sectors has become soaring. Every year Silk bank limited carry out environmental audits and make significant contributions to the society to support their agenda of Corporate Social Responsibility. Silk bank raised funds in which not only the bank but the employees contributed equally which were then contributed to flood relief rehabilitation. Out of which Rs.2.5 million was denoted to Sind Institute of Urology and Transplantation (SUIT) and Rs.1.5 million to the flood affecters. Silk bank not only sponsored a Polo team of four professional polo players for the season 2010/2011 but also made significant contributions and sponsorships towards NGOs like The Medical Aid Foundation, The Kidney Centre, Children Health and Education Foundation, Habib Educational Trust, Ziauddin Medical Foundation, Special Olympics, WAPDA Sports Board,

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Institute of Business Administration Karachi, Marketing Association of Pakistan and etc. Following are the details of their CSR activities.
Roshan Must aqbil A chil d is the most preci ous gif t for any qualit y educati on i s the best gi ft par ents can gi ve to t heir chil dren . Si l k bank Roshan Mustaqbil Bancassurance i s an educati on pl an exclusi vel y desi gned to cater your needs. The plan is under writt en by EFU Life Assurance Lt d. Roshan Mustaqbil is a fl exi bl e, t ail or -made, complet e financi al package t hat facilit ates you to plan your chil dr en s futur e education r equir ement s and guara nt ees a financi all y secur e tomorr ow even in case of any mi shap. Sunehra K al Sil k Bank Sunehra Kal bancaassurance i s a savi ng and i nvestment plan excl usi vel y desi gned to cat er all your needs. The pl an is under writ ten by EFU Li fe Assur ance Ltd. Sunehr a Kal is comprehensi ve f inancial planning package t hat gi ves you t he dual benefit of pr ot ecti on along wi th pot ent iall y hi gher ret ur ns over a l ong- t er m on your savi ng and i nvest ment. The most i mport ant benef it of Sunehra kal is i ts flexi bil it y t o suit your needs. Sunehra K al is an i deal , regul ar premi um unit -l i nked plan, t o all your dr eams i nt o r eal it y.

Mehf ooz H ar Pal Sil k Bank Mehf ooz Har Pal bankassur ance i s a si mpl e yet comprehensi ve accident and hospit ali zat ion plan pr oviding 24 hour worl dwide coverage to t he ent ire f amil y. Mehf ooz Har Pal guarant ees your fi nanci al wel l by paying out cash on death or pr ol onged absence f rom wor k as a result of an accident or hospit al i zat ion due to anaccident . The plan is underwri tten by EFU Life.

Sil k Healt h Plan Healt h is undoubtedl y the real wealt h. In fact, good healt h i s a tr easu r e that ever yi ndi vi dual cherish the most .but unf ort unatel y il lness 11

and di sease are part and par cel of lif e and al ways exist . Wit h the health car e cost s, sickness may not onl y l ead t o mental di str ess f or t he whol e fami l y but coul d al so adver sel y aff ect t he fi nance f or a l ong ti me t o come. The i mpli cations become even mor e severe if the il lness r esult i n pr ol onged hospi tali zat ion. Wi th a mi ssi on to hel p peopl e li ve heal thi er , wealt hi er and more succ essf ul li ves Si l k bank offers Sil k Heal th Pl an, a comprehensive heal thcar e package th at pr ovides fi nanci al pr ot ecti on i n case of illness or accident t hat lea ds to hospital i zati on. The pl an i s under writ ten by Alli anz EFU .

Q. No.7 HOW THE ORGANIZAT IONAL CUL T URE IS DERIV ED IN SILK BANK Ans. 17 An innovative culture helps Silk bank to produce unique products

and services that meet their customers needs. They get away from the culture of sifarish, reciprocity, favoritism, nepotism and inculcate a culture of serving the customers equally and honorably without any distinction. They apply the KYC (Know Your Customers) regulations with equal fervor, discourage benami loans, or deposits, report suspicious transactions, penalize deceptive pronouncements and practices by sheer force and take criminal action against those found guilty of frauds and forgeries. Transparency, full disclosure, courtesy to the customers and helpful attitude should become integral part of the organizational culture. Continuous learning, skill up gradation and acquisition and mastering of new knowledge and techniques will prove extremely helpful in the professionalization of the banking industry.
Teamwor k- They wor k as a team f amil y Wor ki ng - li ke a f amily r ej oice the Competiti on - ther e i s al wa ys a competi tion ther e Career - a great career ahead

Q.No. 8 GOALS AND MBO APPROACH BY SILK BANK Ans. 8 Silk Bank remains on course to meet its long term goals and is fully committed to enhance its capital to meet regulatory requirements. The fresh capital injection is fully backed up by the banks sponsors namely Nomura Investments, IFC (World Bank Group) and Bank Muscat. Silk bank's main objective is to offer outstanding value to their customers by providing a
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knowledgeable, efficient and reliable service in a personal, helpful and responsive manner. Central to this service philosophy is their professional consultative approach, which they take with each customer. By getting to know their customers better, they identify their needs and match them with tailor-made quality products and service solutions. To put it simply, they are committed to making today's complex financial world easier for their customers. Management by Objectives (MBO): In our organization, employees are motivated through MBO. Here they have a program that emphasizes participative on setting goals that are tangible, verifiable and measurable. In this regard, they have the following ingredients in MBO o Goal specificity, o Participative decision-making, o An explicit time period o Performance feedback. Implementation of these ingredients results in employee motivation.

Q. No. 9 ENVIRONMENTAL SCANNING Ans. 9 They done it by interviews and research by their marketing team through phone calls, and by determining their customer needs and the services required them for their ease. They gather Information related to markets & customers, changes in legislation & regulations that have a direct impact on organizations activities that could be collected continuously to monitor changes. Following are the steps which are followed by Silk Bank Manager: 1. Define Question 2. Develop assumption 3. Gather Data 4. Filter and organize data 5. Analyze appropriate data 6. Prepare findings and select best recommendations 7. Prepare draft report 8. Review and approve 9. Issue report and deliver presentation 10. Seek feedback from customer

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Q. No. 11 ORGANIZATIONAL STRUCTURE & SPAN OF CONTROL Ans. 1 Below is the organizational structure of Silk Bank:

SPAN OF CONTROL Span of control means number of employees working under the one officer. The concept of span of control has been started many years ago. The main objective to use the span of control is to save the resources of the firm as well as to increase the authority of the officer. Span of Control in Silk bank is increasing widely because all the banks are working under the one area manager, that shows the efficiency and effectiveness of the management who

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have organized such kind of structure which decreasing the cost as well as increasing the revenue of the firm with lower rate of employees. Q. No.12 CHAIN OF COMMAND IN SILK BANK LIMITED Chain of Command means organizational hierarchy is control by a single person who looks after the whole organizations activities. Chain of command is a traditional way of dealing with the employees. In Silk Bank there are two important types of command which is used one is most important Central Command and 2nd is Branch Command. Chain of Command is centralized power in Silk bank which is control by the higher authorities and the all decision making has been made at central level, the final authority is the Chairman who can take every kind of decision with communication of their board of directors. Specially marketing decisions which has the great importance made according to the centralized procedure. Branch Command is a delegation of power has given by the chairman and the board of directors which also have the importance because a branch manager is a kind of person who can take the immediate decisions at the spot. A branch manager in Silk bank who have the command and control of their branch where he can change the branch environment, but he also controlled by the regional manager, and his task is restricted.

Centralization
Bank is a kind of organization where centralization is more or less its depending on the functions of the department. In Silk bank there are some functions which are centralized like marketing, profit increase cost decrease increase shares in the market and some where branch managers or area managers could make their interference for instance in various operations such as account opening, treasury functions and I.T operations which are performed by the direct regional and area manager.

Decentralization
When the organization divided their centralized power into different departments and officers is called decentralized process. In this process the power has given to the officers who can take the decisions at their own level which is conventional and daily routine based. For instance a branch manager
can reject the cheque, can interference in various departments, can stop their work on emergency basis, and can take the decision on fire alarming situation

Q. No.13 HOW THEY MOTIVATE EMPLOYEES OTHER THAN SALARY? Ans. 13 They focus on motivating their employees other than salary. Department managers and head Provide tell employees: Where is the company 15

going? What are current challenges that top management is trying to address? How does the employees contribution fit and what are the opportunities in future for them to warm up. Recognition and giving credit for good work is the way to go. Listen the employees issues and also as for feedback give them the chance to optimize their own work environment where they can perform the best.

Below image are the examples of motivation system in Silk Bank.

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Q. No.14 DIFFERENCE BETWEEN A LEADER AND A MANAGER

Ans. 14 Leadership is just one of the many assets a successful manager must
possess. Care must be taken in distinguishing between the two concepts. The main aim of a manager is to maximize the output of the organization through administrative implementation. To achieve this, managers must undertake the following functions:

Organization Planning Staffing Directing Controlling

Leadership is just one important component of the directing function. A manager cannot just be a leader. He also needs formal authority to be effective. In their organization, for any quality initiative to take hold, senior management must be involved and act as a role model. This involvement cannot be delegated.

Q. No. 15 RECRUITMENT AND SELECTION PROCEDURE OF SILK BANK LIMITED Ans. 15 All current openings are posted on their website and updated weekly by Human Resources. Candidates who are interested in an open position with Silk Bank must complete an online application through their website for consideration. Candidates are encouraged to attach their rsum to their profile during the application process. 1. Candidates are invited in to do a written test The written test comprises of a combination of the following tests, with varying difficulty levels for different positions:

Logical aptitude / reasoning Quantitative / numerical aptitude English language General socio-economic and Banking Awareness

2. Once candidate pass the test, they are invited for a interview with their first line supervisor interview

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3. Then we will call you for interview with HR department and finally with branch manager 4. Once candidate clear the interview they briefed on the terms of employment and provided an appointment letter 5. Candidates are almost there! Candidates undergo a medical exam and after all clearances joins the Bank 6. They are defines about job responsibilities and duties by department head.

Q. No. 16 RECRUITMENT SOURCES USE BY SILK BANK Ans.16. They uses all three main sources for recruiting best manpower for their organization. They do internal hiring to recruit employees upward or laterally within the company because little or no training is needed, and expenses that include advertising for a new employee and running background checks are spared. They also use External sources like news paper, billboards and Television advertisement. Following is an example of newspaper ad placed by Silk Bank. They also hire employees by third party contract and on contractual basis. They work with Fulcrum, Peoples, Prime HR and first solution for recruitment purpose.

Q. No. 17 SELECTION, INTERVIEW AND TEST Ans. 17 Introduction:

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Employee selection is an important part of the Banks success. If HRM department of the Silk Bank able to select right employee in the right place then the employees able to perform their job effective and also achieve their goal as well as bank achieve its goal. To make the selection activities successful, a lot of careful planning and careful thought is required. The selection process is composed of a number of steps. Each of these steps provides decision makers with information that will help them predict whether an applicant will prove to be a successful job performer.

The Selection Process of the Silk Bank Limited: Appropriate selection procedures must be used for each post. Procedures may vary at its simplest this may involve a strength forward interview and skills testing. For more senior posts psychometric testing, presentations to the interview panel on a chosen topic and services of individual interviews on various topics may be included. But in case of regular recruitments the selection process is a three-stage journey.

1. Initial Screening: Initial screening is the first step in the selection process whereby inquiries about a job are screened. This initial screening is a two step procedure The screening of inquiries The provision of screening interviews.

2. Application Received:

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The application forms received by the closing date will be short listed in order of merit. The applications must be chosen against the person specification. This selection may be based upon the following:

SL No. Criteria 01 02 03 04 05 06 07 Basic Education Technical Education/ training Period of Experience Type of Experience Quality of Application Location Reference:

Existing Staff

New Candidate

3. Written Test: The Human Resources Division will call some or all of the short listed candidates to a written test, held by itself or being arranged by some other institution (i.e. IBA etc) under contract. The result of the written test will be treated as confidential.

4. Comprehensive Interviews: Comprehensive interview is a selection device in which in depth information about a candidate can be obtained. Those applicants who pass the initial screening, application form, and required tests are typically given a
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comprehensive interview. The applicant may be interviewed by HRM interviewers, senior managers within the organization, a potential supervisor, potential colleagues or some or all of these. The comprehensive interview is designed to probe areas that cannot be addressed easily by the application form or tests, such as assessing ones motivation, ability to work under pressure, and ability to adjust in the organization.

The Human Resources Division of Silk Bank who will also make the necessary housekeeping arrangements for the interview will call those qualifying in the written test for an interview. This includes time tabling the interviews and supplying the following to each member of the interview committee: Copies of application forms /CVs Blank interview report forms A copy of the job advertisement (if applicable) A copy of the job description The Bank Management will constitute the interview committee, preferably with three members. The assessment of the interview committee will be on the following basis:

SL No. 01 02 03 04

Criteria Knowledge (Current affairs/ Subject/ Job Related) Applicants perception of abilities Applicants view on career Enthusiasm

Marking

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05 06 07

Confidence Communication Skills Smartness & Behavior pattern Past Experience (if any)

5. The Realistic Job Preview: The Realistic job preview indicates a selection device that allows job candidates to learn negative as well as positive information about the job and organization. The primary purpose of any selection device is to identify individuals who will be effective performers. But it is not in an interviewers best interest to find good prospects, hire them, and then have them leave the organization. Selection should be concerned with reducing voluntary turnover and its associated costs. By providing Realistic job preview, organization able to achieve that goal. The Silk Bank Limited provides the realistic job preview.

6. Background Investigation: Background investigation is the process of verifying information what the job candidates provide. The SILK BANK takes Background investigations to verify that what was stated on the application form is correct and accurate information. This can include contacting former employers to confirm the candidates work record and to obtain their appraisal of his or her performance, contacting other job related and personal references, verifying the educational accomplishments shown on the application.

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7. Provision of Service Rule: The service rule of the Silk Bank Limited clearly states a few conditions regarding Appointment. This includes Educational qualification, Age limit, and commencement of service, service agreement, probationary period and eligibility for confirmation. They are both directly and indirectly related to the recruitment process. For clarification, the clause on educational qualification, age limit are directly stated below: Educational Qualification:

The minimum qualifications of reappointment to various posts otherwise than by promotion from a lower category or post shall be as given in Appendix 01 provided that the qualifications may be waived or other qualifications may be prescribed in special cases by the Broad.

Age Limit A candidate shall not be less than 18 years of more than 30 years of

age for fresher at entry level at the time of appointment to the Banks service. The age limits may be relaxed by the competent authority in suitable cases.

Offer of Appointment: When all candidates have been interviewed the interview committee will send the result to the Human Resources Division for appointment on merit basis. Accordingly, Human Resources Division will arrange to inform the successful candidates as soon as possible agreeing a commencement date and starting

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salary. Such an offer of appointment can only be formalized after the successful candidate meets the following conditions:

Signed letter of offer of appointment to signify acceptance of officer Medical fitness report. Copy of all academic certificates Clean reference report Signed sureties bond.

Types of Appointment: The successful candidates are then appointed in the Bank as per terms of the appointment letter. However, all employment is not of similar nature. It mainly depends upon the Bank the type of appointment it will offer to a candidate along with the level of salary, allowances and other benefit package. The bank will offer such a package that will maximize its interest as well as not to discourage the successful candidates from accepting the offer of appointment. Recruitment in the Bank takes the form of the following appointments: o Permanent Regular appointment: Such appointment can be offered to all Bangladeshi nationals who are 30 years or younger, having some or no work experience. We usually refer to them as entry level officer who have to serve not less than six months of probation period before being confirmed at the service of the Bank. The appointment structure of the entry level officers is shown below:

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Primary appointment Management Trainee

After confirmation Executive Officer

Educational Qualification MBA/post Graduate in any discipline Post Graduate Graduate

Officer on Probation Junior officer on probation Junior Cash officer on probation

Officer Junior Officer

Junior Cash officer

Graduate

However, in case of more experienced persons, the age limit could be extended up to 55/60 years, for offering appointment on regular service. Such appointments should be dealt with on a case to case basis according to the approval of the Managing Director.

o Contractual Appointment: Contractual appointment is usually to experienced and skilled persons particularly for senior and mid level executive posts. Usually such employment is for not more than 3 years although it may be renewed for a further period/ term at the discretion of the appointing authority. The age limit for contractual appointments should not exceed 65 years. The salary and designation of such appointment should be based on his previous salary structure and designation held. However, Bank Management will decide his appropriate designation, contract period and salary package. Board of Directors is informed about such appointment/ renewal.

o Temporary/ Casual appointment:

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Such appointment is offered only for reasons that compel hiring of more manpower beyond the existing available from permanent staff. Casual appointment is usually allowed for staff and sub-staff level due to temporary/ increased workload. The salary of casual employees will be calculated on per working day basis, approved by the Board of directors.

Q. No. 18 TRAINING AND DEVELOPMENT SECTION CONTRIBUTION Ans.18.They ensure that employees under their supervision are trained in a timely manner, identify their needs for improvement in their present jobs and to provide information and guidance Training specialists are responsible for coordinating new-hire orientation. Without training specialists to conduct orientation, department supervisors would be responsible for training new workers. And also teach employees to watch for:

New account fraud setting up accounts based on stolen identity or personal information Credit card fraud using credit cards without authorization Check fraud using checks without authorization, or using fake checks Phishing fraudulent attempts to get personal or company information that can be used to perpetrate identity theft Identity theft using another individual's personal or financial information without his or her consent

Q. No. 19 TRAINING AND DEVELOPMENT OPPURTUNITIES FOR EMPLOYEES Ans.19.Our staff has always been the focus of our planning process. Human Resource Development has a profound impact on business processes and a direct relationship with service quality standards. Silk bank dedicated more than 39,000 hours of training covering both soft skills as well as job-skills. The training programs covered service excellence, selling skills, product and operational knowledge including management skill development. In fulfilling
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our mission to be the "Employer of Choice", we invited all our employees to an "Employee Engagement Survey''. Management also emphasizes on imparting of training to enhance knowledge and understanding of the Bank's internal policies and procedures and prudential regulations. This has resulted in the strengthening of the control environment.

Q. No. 20 STANDARD JOB DESCRIPTION Ans.20. Despite the challenges of 2009, we managed to attain an admirable revenue growth setting the pace for sustainable performance in the future years. We have strengthened our controls and restructured our balance sheet, aggressively providing for portfolio impairment. We invested heavily in our distribution and have expanded our network to 1249 regional branches in Pakistan. We continued to upgrade the skill set of our people through training and development, enabled further by a world class technology infrastructure to meet the dynamic needs of our customers and making our service a truly differentiating factor. I would like to personally thank every member of the team for their commitment and enthusiasm, as well as all our sponsors, associates and customers for their continued support. Below is the format of the same.
JOB DESCRIPTION Job Title Reports to (Title) Customer Services Officer Customer Services Manager Branch Banking Job Holder (Name) Indirect Reporting (Title): Location Countrywide

Branch/Department 1.

JOB PURPOSE (Why does the job exist?)

Responsible for handling the Bank system; Handles payments from various branch and credit card customers. Issues travelers checks, makes salary transfers, foreign and local transfers, and reconciles cash transactions at the end of the day. The incumbent of this role is also responsible for handling all customer queries and complaints.

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2.

KNOWLEDGE & SKILL REQUIREMENT (necessary to perform this job?)

Education & Experience: Graduation with minimum1 to 2 years experience in a similar role, Experience in Note Sorting will also be considered. Technical Skills: Proficiency in computer skills Awareness of PR / SBP regulatory guidelines Behavioral Skills: Communication and Interpersonal skills Ability to work under pressure

2.

KEY RESPONSIBILITIES: 1) Handles the Bank system within the branch to take payments from customers, make demand drafts, account transfers etc. 2) Reconciles all cash transactions at the end of the day. 3) Ensures transactions and reporting of activity is accurate and complete. 4) Ensures adherence to all regulatory guidelines (e.g. proper identification, documentation) when handing over cash. 5) Ensures verification of all transactions and completeness of source documents, and related supporting documents joined with the Customer Service Supervisor. 6) Coordinates with internal and external auditors to monitor and balance all financial losses. 7) Handles all customer requests in a timely manner; Looks for ways to improve efficiency and reduce turnaround time.

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SWOT ANALYSIS
Strengths: o Public confidence o Sound financial strength o Highest profitability o Vast operational network o Role in economic development Utility bills collections Corporate branches o Evening banking o Efficient home remittance o Recognition of hard work of staff SWIFT o Internet access (www.silkbank.com) Pension & salaries payments

Weaknesses: o Lack of good delegation o Inadequate, poorly placed network technology o Complex MIS o Deep rooted bureaucratic approval o Lack of long term & short term plans o Less share in import & export business o Poor resource utilization
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o Need better service policy o Frequent change in senior management

Opportunities: o New style management o Introduction of new products and services o Introduction of new technology & electronic banking o Capital management & equity financing o Secondary market operations o New deposit scheme Threats: o Establishment of new private financial institutions & expansion o Govt. sponsored schemes o Political pressure o Reducing branch network o New products forms private Pakistan Establishment of new private financial institutions & expansion o New products forms private Pakistani & foreign banks o Non-banking institutions o Inability to change o Inability to change o Stakeholders interests

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PEST ANALYSIS
Political: o Privatization policy and deregulation. o Impact of subsidized credit affecting and Silk banks. o Employment practices, Unions, Associations. o Political Interference and harassment. o Incidents of high taxation on banking industry.

Economical: o Constraints in mobilization of public savings because of inflation. o Staff cost. o Operating cost. o Bad debts

Social & Cultural: o Inadequate human resources. o Cultural strain to savings. o Defaulters lobby. o Declining education and work ethics. o Inadequate accountability.
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o Adequate empowerment.

Technological: o Inadequate communication infrastructure. o Inadequate computer facilities o Inadequate IT training.

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Suggestions and Recommendations

Based on the SWOT and PEST analysis of the Silk bank, it is observed that the Bank like the other public sector industries has not been showing up to mark performance. There is a long list of weaknesses that is given on the previous page. Most of them are going along since long time and that all efforts made to remove them have not succeeded. On the basis of SWOT analysis of the Bank the following suggestions and recommendations are given.

o Bank should try to get rid of the political influence to be able to compete in the industry with prudent and strong policies o The undue reliance on the public sector be minimized and ventures of private sectors should be taken as well. o Redefining of rules, regulations and policies should be made implemented at all costs. o Efforts of great importance to be made for the over the counter services of general banking making it more simple and faster to get a better response of the customers. o The behavior of the employee, especially on the counter has to be strictly monitored and checked o Efforts should be continued to keep the powers of employees union to the minimum, like the current situation. o Promotions must not be delayed and should be made on time to further increase the commitment and efficiency of the employees.

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Conclusion
The economy of the country is booming and with the investment favorable policies and their smooth implementation, the role of banks in todays economy have become an important one.

The banking industry is also reaping the fruits of this economic boom by growing rapidly over the past few years. There are a number of mergers happening in the economy with foreign investments coming into the banking sector.

It has been only one year since the establishment of Silk bank, and since its establishment it has aimed to become the leading bank of Pakistan by that provides outstanding services to its customers Furthermore, as the bank is growing, the number of employees at Silk bank are increasing, which shows that Silk bank is being considered as an employer, that provides its employees with a challenging environment to work in, where they can harness their full potential and shows confidence as an employer by the employees of the bank.

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