Recruitment to expand footprint of investment services: Chairman
JK Bank Financial Services Limited (JKBFSL) a wholly owned subsidiary of J&K Bank, today released the list of 148 candidates selected for specialist job roles of Relationship Executives, Processors, Dealers, Relationship Managers, Risk Management Clearing & Settlement Executives, Human Resource Executives, Finance & Accounts Executive, IT Executives, Compliance Executives etc. for various locations within the state after conclusion of the recruitment process which was conducted by the bank under the aegis of Institute of Banking Personnel Selection (IBPS) Mumbai , the nodal agency for conducting written tests for recruitment in all nationalized Banks & State Bank of India in the country.
Congratulating the candidates, the Chairman & CEO J&K Bank Parvez Ahmed said,”The selection has been made on the basis of aggregate performance of candidates in online examination conducted by IBPS and interview process. This has been done as per the approval of the four year business plan of JKBFSL by the Board of Directors of the bank a few months back and will aid in expansion of footprint of the JKBFSL to offer investment services based on customer’spreference for return by assisting all investor groups of HNI Individuals, Young Professionals, Businessmen, Government Employees etc. through a bouquet of financial products.
The Chairman J&K Bank added “We have felt the shift in preference of customers from physical to financial assets and our customers in J&K state have to scout for these services through informal channels run by a network of agents mainly in the urban centers though the appetite for wealth management products have been rising across the state. Through JKBFSL we are offering the credibility of our brand to our customers by offering investment services by converting our touch points into a one stop-shop for distribution of Investment & Protection products”.
“As per the business plan we are undertaking a major expansion of our subsidiary from the existing ten branches to leverage the JK Bank brand by offering investment services to the Bank’s client base through our 2000 touch points. Initially we are planning to expand it to 100 locations followed by two-hundred branches in a couple of years. We have recruited the best talent pool through open market recruitment in the state to be the drivers of the expansion of business of this subsidiary. Additionally we are investing in digital technologies to provide seamless digital experience to the tech-savvy customers who want to explore the products in the investment basket through digital channels”, said Parvez Ahmed
Revealing the company’s vision further, he said, “We intend to create value for our stakeholders by leveraging the expansion of our footprint to strengthen the revenue streams of JKBFSL and subsequently unlock the value by listing the company in a few years. This is also going to create employment opportunities for the steady stream of MBA graduates of the state from our universities enabling them to make a meaningful contribution in their native places as they are otherwise having limited opportunities in the state for their specialized knowledge based education. ”
Commenting on the talent pool in the state he said,” The interview committee for JKBFSL vacancies has spoken very high about the skill set of the candidates. At present we had only 148 vacancies in JKBFSL but my best wishes to the other candidates who still have the option of appearing in the JK Bank exam scheduled next month. I personally feel that the talent pool in our state needs to be leveraged by making policy level interventions. We are having a vast geographical area with huge development deficit and hence there is immense potential to absorb the bright educated youth by making positive interventions”.
The Bank’s Vice President & Managing Director JKBFSL Manzoor Hussain while deliberating on the recruitment process said,” The recruitment has been conducted in a professional manner by the Institute of Banking Personnel Selection (IBPS) and a complete merit list of the selected candidates has been prepared which can be assessed by visiting the office of the JKBFSL on any working day. The process has been conducted with highest level of efficiency and transparency in a time bound manner for an approved number of vacancies as per the business plan.”
He added that after playing an instrumental role in setting up the subsidiary for depository services of the bank during his earlier roles to provide an exit route to the shareholders of the bank post public issue, the bank’s current Chairman & CEO has now revived the operations of the subsidiary through a visionary & forward looking business plan which was approved by the Bank’s Board of Directors that shall now be implemented after the recruitment of the specialist officers.