a research on understanding and exploring job description in standard chartered bank

8/13/2019 A RESEARCH ON UNDERSTANDING AND EXPLORING JOB DESCRIPTION IN STANDARD CHARTERED BANK

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A RESEARCH ON UNDERSTANDING AND EXPLORING JOB DESCRIPTION

IN STANDARD CHARTERED BANK

by

Navid HasanID: 0720367

An Internship Report Presented in Partial FulfillmentOf the Requirements for the DegreeBachelor of Business Administration

INDEPENDENT UNIVERSITY, BANGLADESHApril 2012


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A RESEARCH ON UNDERSTANDING AND EXPLORING JOB DESCRIPTION

IN STANDARD CHARTERED BANK

by

Navid HasanID: 0720367

has been approved

April 2012

Mr. Monzoor MorshedLecturer

School of BusinessIndependent University, Bangladesh


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29thApril, 2012

To

Mr. Monzoor Morshed

Lecturer

School of Business

Independent University, Bangladesh (IUB)

Subject:Submission of the report on A Research on Understanding and exploring Job Description

in Standard Chartered Bank

Dear Sir:It is a great pleasure for me that I have the opportunity to submit the internship report on the A

Research on Understanding and exploring Job Description in Standard Chartered Bank

The internship program gave me an opportunity to have an exposure to the working environment

and on-the-job experience at Human Resource Department in Standard Chartered Bank. I have

acquired a good understanding on the recruitment process, about the payroll process, preparing the

offer letter, managerial functions etc.

I have tried my level best to put in meticulous effort for the preparation of this report. Any

shortcomings may arise. I will wholeheartedly welcome any clarification and suggestion about any

view and conception disseminated through this report.

Thanking you

Sincerely yours

Navid Hasan

ID # 0720367


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ACKNOWLEDGEMENT

We are grateful to many individuals for the completion of the report

successfully. They are both from Standard Chartered Bank and Independent

University, Bangladesh who provided us with guidance and information for thisstudy.

First of all, I would like to take this opportunity to express my heartfelt

gratitude to my honorable instructor Mr. Monzoor Morshed, Lecturer, School of

Business, Independent University, Bangladesh. I would like to extend my gratitude

to him for his expert supervision, constant guidance, and inspiration during the

preparation of the report.

I also like to thank Ms. Fabiha Ashekeen, Talent Acquisition Specialist

Human Resource Standard Chartered Bank who helped me a lot by providing allthe necessary internal information about Standard Chartered Bank. The Human

Resource Relationship Manager Ms. Jacqueline Tina Gomes and Mr. Amirul

Mizan, Manager, Service delivery also, has done a lot for me by giving me all kind

of information possible to make my task easier.

Lastly, my heartiest thanks go to others who were involved and helped

directly and indirectly in preparing this report. Without them this report would not

be made possible.


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Executive Summary

According to the universalistic perspective, organizations from different sectors,

across industries, and through different time periods should use a series of select human

resource management practices (HRMP). The main principle of this paper is to

investigate whether there is any Job Description in Standard Chartered Bank and how

important is it; This study aims to investigate the problems of rehiring process of

Standard Chartered Bank under contractual employment. This study is an Action

research in nature and it will examine a problem in the bank. A single set of sample will

be considered for this study and that will be the employees of Standard Chartered Bank.

A set of structured questionnaire will be distributed among 50 respondents. Action

Research analysis will be conducted for the purpose of questionnaire/data analysis and

will be given possible solution for the specific problem.


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TABLE OF CONTENTS

Chapter- 1 Introduction

1.1.1 Origin of the report 81.1.2 Purpose of the Study 81.1.3 Scope of the report 9

Chapter- 2 Literature Review

2.1.1 Review of the Literature 92.1.2 Training 102.1.3 Relationship between Training and Perceived Organizational Performance 112.1.4 Employee Participation 122.1.5 Relationship between Employee Participation & Organizational performance 122.1.6 Relationship between Compensation & Organizational Performance 132.1.7 Employee Selection 132.1.8 Relationship between Employee selection & organizational performance 142.1.9 Developing of Conceptual Framework 142.1.10 Research Questions 162.1.11 Action Research Questions 162.1.12 Hypothesis 17

Chapter- 3 Methodology

3.1 Methodology of the Report 173.1.1 Sample information 173.1.2 Primary Source of Data 173.1.3 Observation method 173.1.4 Group Interview/questionnaire survey 183.1.5 Other primary sources are 183.1.6 Secondary sources of data 18

3.1.7 Secondary sources are 183.1.8 Data collection 183.1.9 Limitations 19

Chapter-4 Organizational overview

4.1.1 Business Activities of the Global Standard Chartered Bank 204.1.2 Global consumer finance 204.1.3 Personal banking 204.1.4 Global corporate and Institutional banking 214.1.5 Global Custodial Service 214.1.6 International Trade Management 214.1.7 Global cash management 21

4.1.8 Global Institutional banking 214.1.9 Global presence of Standard Chartered Bank 22

Chapter- 5 Introducing Standard Chartered in Bangladesh

5.1.1 Standard Chartered in Bangladesh 265.1.2 Major Business Units 255.1.3 Corporate Banking group 255.1.4 Treasury Division 26


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5.1.5 Financial Institution Department 265.1.6 Consumer banking division 265.1.7 Card Division 275.1.8 Custodial and clearing service 27

Chapter- 6 Human Resource Division

6.1.1 Human Resources Division 286.1.2 Controlling Structure at SCB 296.1.3 Broad strategic objectives 296.1.4 Personnel Policies 306.1.5 Recruiting, Training, and Career Progression 306.1.6 Planning, Organizing, directing and controlling 316.1.7 Chain of Command 31

Chapter- 7 Job Description

7.1.1 Job description in Standard Chartered Bank 347.1.2 Creating a job description 347.1.3 Roles and responsibilities 34

7.1.4 Goals 347.1.5 Limitations 347.1.6 Job Description of Standard Chartered Bank 35

Chapter- 8 Re-hire Process

8.1.1 Rehire Process of Standard Chartered Bank 38-39

Chapter- 9 Action Research

9.1.1 Problems regarding Re-hire process of Standard Chartered Bank 409.1.2 Methods used during Action Research 419.1.3 Research Design 41

9.1.4 Research Instrument used 429.1.5 Sample Size 429.1.6 Analytical tools used 42

Chapter- 10 Data analysis and Interpretation

10.1 Data analysis and Interpretation 43-48

Chapter- 11 Solution, Recommendation & Conclusion

11.1.1 Findings 4911.1.2 Recommendations 50

11.1.3 Conclusion 51

References 53-56

Bibliography 57

Appendix 58-59


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Chapter-1

1.1 INTRODUCTION

1.1.1 Origin of the Report:

This report has been prepared as a requirement of the internship program. The report was

based upon the Standard Chartered Banks Human Resource department on Job

description. My organization supervisor was Ms. Fabiha Ashekeen, Talent Acquisition

Specialist and my Institution supervisor is Mr. Monzoor Morshed of Independent

University, Bangladesh. The topic, which was decided for doing the report, was duly

approved by my supervisor and my organization supervisor. This report will definitely

increase the knowledge of other students to know about the Job description under Human

resource department also know about the Hiring procedure under recruitment of

contractual employees.

1.1.2 Purpose of the Study:

This literature is written on Job description of various jobs in Standard Chartered Bank

and different category of employees hiring procedure. Apart from the overall

organization part of SCB, the project part is divided into three phases. On the first phase,

it focused on the Recruitment procedure of Human Resource of SCB and on the next

phase, it focused about the hiring process of Contractual employees and how the contract

period end and renew and on the third phase questionnaire analysis and solution of

questionnaire findings. In my report, I tried to show the questionnaire analysis of

contractual employees based on the Re-hiring procedure. On the organization part, the

objective was to find the Job description and the need of it for various job and other

various activities of the bank. On the first phase of the project part, the effectiveness of

Job description of SCB was studied and on the second phase the questionnaire analysis

and recommendation were studied.


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1.1.3 Scope of the Report:

The scope of the report was to find the need for Job description of the bank. In addition,

the report was done to find the effectiveness of Job description for various jobs and

further more, the report also focused on the Re-hire process of contractual employees

which is the main theme of Action Research. An infrastructure of organization has been

detailed, accompanied by company corporate perspective and look into the future. The

scope of this report is limited to the overall descriptions of the bank, its services, and its

position in the industry, and its competitive advantage. The scope of the study is limited

to organizational setup, functions and performance.

Chapter- 2

2.1 LITERATURE REVIEW

2.1.1 Review of the Literature

Human resources management includes a variety of activities , and among them is

deciding what staffing needs an organization has and whether to use independent

contractors or hire employees to fill these needs , recruiting and training the best

employees , ensuring they are high performers , dealing with performance issues

and ensuring the personnel and management practices conforms to various regulations.

Activities also include managing their approach to employee benefits and compensation,

employee record and personnel policies.

HRM practices have shown to be valuable to any companys success. Thus to be

successful in a global market place, the challenge for all businesses regardless of size is

to invest in human resources. They need to select and retain talented employees,

undertake employee training and development programs and dismantle traditional

bureaucratic structures that limit employees ability to be innovativeand creative.


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The commonly practices HR activities include the following:

HR Planning

Recruiting

Selection

Training and Development

Compensation

Performance

Management

Employee Relation

Employee Participation

Literature review distills the existing literature in a subject field; the objective of

the literature review is to summarize the state of the art in that subject field. From this

review of earlier and recent work, it becomes possible to identify areas in which further

research would be beneficial. Indeed, the concluding paragraphs of the literature review

should lead impeccably to research propositions and methodologies. It is therefore

important that the literature review is focused, and avoids the more comprehensive

textbook-like approach.

2.1.2 Training:

It is reasonable to suggest that training has been seen as a very functional part of

HRM, dominated by technical questions which have restricted the capacity for wider

alternative and critical perspectives Huselid (1996).

Training has always been recognition of the value it has to the national economy,

however, this tended to be primarily as a response to skill shortages until the 1970s

Barraud-Didier's (2004). Recent accounts have challenged assumptions about training;


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first, it was simply functional in nature, second, the assumption that training was almost

exclusively about skill development has been challenged. Third, the implication that

employees generally benefited have been questioned, particularly in respect to their

opportunity to transport skills and knowledge throughout external labor marketsHodson

(2002).

In a studyMacDuffie (1995)said that, though training is a labor cost issue it is

probably the most visible HRM function and the one most easily targeted by

management.MacDuffie (1995)suggest that contrary to the conventional market view of

training, a complex combination of institutional and market factors did not lead to a deep

cutback in training. Some employers engage in cost reduction during recession, some

appear to regard the continuation or expansion of training as crucial to their performance

in their product marketKato and Morishima (2002).

2.1.3 Relati onship between Training and Perceived Organizational Perf ormance:

One of the most common practices that appear in the different journal as a best

HRMP practice is training.Pfeffer (1998)andPfeffer and Veiga (1999)mentioned in their

article that, training as one of seven practices of successful organizations.Harel and Tzafrir

(1999)found that the single HR practice that most influences perceived organizational

performance is training. Other studies have also viewed training activities as a potential

universal best practice (Arthur, 1992;Delaney and Huselid, 1996;Huselid, 1995;MacDuffie,

1995;Youndt et al., 1996).
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relationship between HR managers' involvement in formulation of business strategy and

its implementation in the electronic manufacturing industry.

2.1.6 Relationship between Compensation and Perceived Organizational Performance:

Traditionally, the most frequently used method for managing people has been by

controlling their compensation.Pfeffer (1998)demonstrated in a study that how high

compensation activities produce economic success.Thorley-Hill and Stevens (2001)

examined 161 publicly traded firms from 1991 through 1998 and found that incentive

compensation was tied to corporate performance.Welbourne and Andrews (1996)found

that organizational-based rewards positively and significantly affect long-term

organizational success. In addition,Delaney and Huselid (1996)found that incentive

compensation is associated with both perceived high-quality organizational and

performance.

2.1.7 Employee Selection :

The selection process determines the decisions as to which candidates will get

employment offers. Throughout the history of Industrial, Work and Organizational

(IWO) Psychology, issues employee selection, and assessment have featured

prominently in the scientific and pragmatic agendas that fuse our discipline(Neil

Anderson, Filip Lievens, Karen van Dam, and Ann Marie Ryan, 2004). Indeed

employee selection has been one of the central pillars of the scientific foundations

of IWO psychology in North America, Europe, and the rest of the world (Neil

Anderson et. el).
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2.1.8 Relationship between Employee selection and Perceived organizational

performance:The aim of these practices is to improve the fit between employees and the

organization, teams, and work requirements, and thus, to create a better work

environment. In doing so, selection may be seen as an essential tool for organizational

performance (Terpstra and Rozell, 1993;MacDuffie, 1995). For example,Delaney and Huselid

(1996)observed that staffing selectivity has a positive impact on perceived organizational

performance. Shipton, H., Fay, D., West, M., Patterson, M., Birdi, K. (2005), noted the

role sophisticated HR practices such as selection have in predicting product innovation

and in production technology innovation.

2.1.9 Developing of Conceptual Framework

Conceptual framework for Proposed Research Topic- A Research on Understanding andExploring Job Description in Standard Chartered Bank.

Independent Variables (IV) Dependent Variables (DV)

Quality

Performance

Appropriateness

Benefits

Job Description
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Conceptual framework for Action Research Paper: PROBLEMS IN REHIRINGPROCESS IN STANDARD CHARTERED BANK.

Independent Variables (IV) Dependent Variables (DV)

Time frame

Benefits

Basic Salary

Compensation

Rehiring

process

Performance


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Research Topic:

A Research on Understanding and Exploring Job Description in Standard Chartered Bank

Title of Action Research Paper:

PROBLEMS IN REHIRING PROCESS IN STANDARD CHARTERED BANK

2.1.10 Research Questions:-

1. What are the criteria that a certain job needs?

2. What qualifications needed and is it really matters for a job?

3. Does Job description really need for hiring candidate?

4. Does it affect on hiring process?

5. What benefits do job descriptions creates or what is the significances/importance of jobdescriptions?

2.1.11 Action Research questions:-

1. How can the bank minimize the problems regarding rehiring process??

2. What strategies/ policy should be implemented in order to minimize the Rehiringprocess?

3. How can software / program can ease the rehiring process?

4. What are the effects of having employees go through the current rehiring process?

5. How does it affect the salary/compensation of the employees in this rehiring process?

6. What practices should bank implement that have positive results on employees?


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2.1.12 Hypothesis

1. Job description really matters for a job in Standard Chartered Bank

2. There is a significant relationship between Job description and Hiring process/ It

affects on Hiring process.3. There is a significant effect of having employees go through the current rehiring

process in Standard Chartered Bank.

4. It affects the salary/compensation of the employees in this rehiring process in

Standard Chartered Bank.

Chapter- 3

3.1Methodology of the Report:

3.1.1 Sample information

Samples are collected from the SCBs Consumer banking division. Here, the samples has

been picked up on a group sampling basis. For the organizational part, much information

had been collected from different published articles, journals, brochures and web sites.

All the information incorporated in this report has been collected both from the primary

sources and as well as from the secondary sources.

3.1.2 Primary Source of Data

Collecting data directly from the practical field is called primary source of data. The

method that was used to collect the primary data is as follows:

3.1.3 Observation method:

Observation method may be defined as systematic viewing according to concise Oxford

Dictionary accurate watching, nothing of phenomena as they occur in nature with regard

to cause and effect and mutual relationship. I have observed many of the activitiesof

Human resource department.


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3.1.4 Group Interview/questionnaire survey:

It is a process whereby individuals are interviewed as a group. The process can be used

to solicit opinions or as a form of employment interview. I have interviewed a group of

contractual employees for my survey of action research in Standard Chartered Bank.

3.1.5 Other primary sources are:-

Discussion with officials of SCB

Face to face conversation with clients and employees

Discussion with HR personnel

Discussion with employees over the telephone

3.1.6 Secondary sources of data

The secondary data has been collected from the MIS of Standard Chartered Bank and

Recruiting policy of the Bank. To clarify different conceptual matters, internet and

different articles published in the journals & brochures have been used.

3.1.7 Secondary sources are:-

Annual publication of HR promotion bureau

Annual Report of SCB

Other published documents of SCB

Different hiring template for hiring

3.1.8 Data collection:

Both secondary and primary data are used for preparing this report. But the research was

mainly based on the inbound business bank. Information was collected directly from the

candidates who are dealing with the Standard Chartered Bank through recruiting

procedure of Human Resource department. In many times, the telephonic interview was

handy for collecting data.


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3.1.9 Limitations:

Limitation, which I have face while doing my internship report are discussed below:

As, I had more dependency on the primary sources, so there might be some level

of inaccuracy with those collected information. Though, adequate verification and

cross-checking was used to minimize the level of error.

Confidential information regarding hiring process was not 100% accurate. Alike

all other banking institutions, SCB is also very conservative and strict in

providing those information. In those cases, I have relied upon some assumptions,

and different opinion of banks employee, which in result have created certain

level of inaccuracy. Still, I have tried my best in obtaining that sensitive

information as much as possible.

Time constraint was another limitation restricting this report from being more

detailed or analytical. Head of the HR department were busy with meetings and

different policy of resourcing. So it was very difficult for me to the free and

obtains some practical ideas regarding their expectation and thoughts of current

re-hire process regarding my action research topic.

Above all, this internship report was prepared during my internship period. So it

was difficult for me to accommodate timer for preparing this report. Mostly our

office timing at SCB is from early morning till 8 p.m. During office hours it was

simply hard to manage time for working with the report.


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Chapter-4

4.1 ORGANIZATIONAL OVERVIEW

Standard Chartered Bank derives its name after two banksStandard bank of British

South Africa and the chartered bank of India, Australia and China. The merger took place

in 1969. Standard Chartered Bank is regulated by the Bank of England and is a clearing

Bank in the United Kingdom.

The new millennium brought with it two of the largest acquisition in the history of the

bank- the acquisition of Grind lays Bank from the ANZ group for a consideration of

$1.34 billion and acquisition of the chase consumer banking corporation in the Hong

Kong for $ 1.32 billion. These acquisitions demonstrate Standard Chartered Banks firms

commitment to the emerging markets.

4.1.1 Business Activities of the Global Standard Chartered Bank:

The bank provides a full range of products and services all around the world, some of

which are mentioned here:

4.1.2 Global consumer finance:

There are seventy-six branches and finance centers under this division in about the

countries with a workforce of 1616 employees. Some of the services provided by these

divisions are unsecured personal loans, credit cards, and retail store cards, vehicle related

leases, etc.

4.1.3 Personal banking:

There are about 410 branches with a workforce of 12,000 employees working under this

division in 28 countries. Some of the services provided by this division are various kinds

of insurance and loans, account maintenance, travelers cheque and money exchange etc.


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4.1.4 Global corporate and Institutional banking:

There are 350 branches under this division. This division provides services in 42

countries. The services provided by this division are International Trade Management,

Institutional banking, Treasury, Custody and Cash Management.

4.1.5 Global Custodial Service:

There are 17 offices under this division and about 900 staff members, operating in 14

countries and head quartered in Singapore. Standard Chartered Equator fulfils Standard

Chartered Banks strategic commitment to provide custody and clearing services in the

Greater

4.1.6 International Trade Management:

Principles services of this division are to the people are Import letter of Credits (L/C),

Import bills for collection, back to back letter of credit, direct export bills for collection,

bulk letter of credit collection, bonds and guarantees.

4.1.7 Global cash management:

The division is operational in all countries where the group has corporate & Institutional

banking division. Standard Chartered Bank recognizes the importance of cash

management to corporate and institutional customers and offers a comprehensive range

of services and liquidity management. Services provided worldwide by this division with

stress on Asian delivery.

4.1.8 Global Institutional banking:

Throughout Standard Chartered Banks network of more than 600 offices in over 40

countries, it is very well positioned to provide a wide range of services to institutional

clients: commercial, merchant & central banks; broker and dealers; insurance companies;

fund managers and others. Offices of emerging markets of Asia, Sub-Saharan, the middle

east and Latin America are complemented by the branches in the developed countries

such as USA, UK and Japan and banks membership of the clearing systems in those


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countries. The Institutional banking group has a network of offices in 25 countries

throughout Asia, North America, Europe, Africa and the Middle East.

Standard Chartered Bank The History

4.1.9 Global presence of Standard Chartered Bank

Standard Chartered Bank has its prominence presence in total of 48 countries:

Africa Asia Pacific Latin America Middle East &South Africa

UK & USA

BotswanaCameroon

GambiaGhanaKenyaSierra LeonSouth AfricaTanzaniaUgandaZambiaZimbabwe

AustraliaBrunei Darussalam

CambodiaChinaHong KongIndonesiaJapanLaosMacaoMalaysiaMyanmarPhilippinesSingaporeSouth Korea

TaiwanThailandVietnam

ArgentinaBrazil

ColombiaMexicoPeruVenezuela

BahrainBangladesh

IndiaIranNepalOmanPakistanQatarSri LankaUAE

Falkland IslandsJersey

UKUSA


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Chapter- 5

5.1 INTRODUCING STANDARD CHARTERED IN BANGLADESH

5.1.1 Standard Chartered in Bangladesh:

The Chartered bank opened in Chittagong in 1948, which was at that time, the eastern

region of the newly created Pakistan. The branch was opened mainly to facilities the post

war re-establishment and expansion of south and south East Asia. The bank opened its

first branch in Dhaka in 1966 and shifted its headquarters from Chittagong to Dhaka after

the birth of the republic of Bangladesh in 1971.

At present the bank has ten branches in Dhaka, it also have on offshore banking unit

inside the Dhaka export processing zone at Savar, one branch in Narayanganj, three

branches in Chittagong one branch in khulna one branch in Sylhet one in Bogra. In the

year 1999 standard chartered has acquired the operation of Grind lays bank in the Middle

East and south East Asian countries. Former Grind lays Bank started its journey in

Bangladesh in 1905 under the name of Grind lays Bank.

Standard Chartered bank took over the operation of ANZ Grind lays Bank in Bangladesh

as a part of acquisition of the south East Asian and Middle East operation of the Australia

and New Zealand banking group. Standard Chartered Bank become the highest bidder

quoting about AU$2.5 billion after ANZ banking group decided to sell their subsidiary,

the ANZ Grind lays Bank operating mostly in the Middle East and South East Asian

countries.

The SC with its 18 branches and booths across Bangladesh has employed over more than

600 people. The acquisition has enabled standard chartered bank (SC) to access 500,000

new customer and 40 branches in India, and this made them one of the biggest bank in

this region.


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Comaprison in terms of deposit among the foreign Banks

Others

4%

Citi N.A.

23%

SCB

36%

Bank of Ceylon

15%

HSBC

22%

After acquisition, Grind lays bank is a part of standard chartered group. The bank

presently has more than 18 outlets in 5 cities serving over 175,000 customers. At present

standard chartered bank, as an international bank has the widest network in Bangladesh

with its 26 branches, 57 ATMs and 7 financial kiosks. The network of SCB in

Bangladesh includes:

16 branches in Dhaka city 1 branch in Savar EPZ

1 branch in Narayanganj

5 branches in Chittagong

1 branch in khulna

1 branch in Sylhet

1 branch in Bogra

The network of SCB engages itself for providing best quality banking service in retail,

commercial and corporate banking segments. The countries to enterprises; Multinational,

local corporation and financial institutions are served by SCB. With total asset based of

BDT 17.5 billion and annual turnover of BDT 1.78 billion, SCB in Bangladesh is among

the top performing multinational bank.


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5.1.2 Major Business Units

5.1.3 Corporate Banking group

Standard chartered bank offers its local customers a wide variety of financial services. All

the accounts of corporate clients, which mainly comprise the top local and multinational

companies operating in Bangladesh, are assigned a Relationship Manager (RM) who

maintains regular and close contact to cater to their needs. The objective of this

department is to maintain a thorough knowledge of the clients business and to develop

positive relationship with them. This is maintained through interactions to offer timely

advice in an increasingly competitive business environment. The expertise of the

financial institution and treasury groups is also available whenever required. The unique

off shore banking unit in Savar offers a full range of facilities to overseas investors, and

recently that Savar branch have expanded many of its activities. The corporate banking

group in Bangladesh has displayed a spirit of community involvement by working with

NGOs to underwrite soft loans. Standard Chartered Bank offers its corporate customers:

The wide varieties of lending needs are offered with skilled and

responsive attention.

Project finance and investment consultancy Syndicated loans

Bonds and Guarantees

Local and international treasury products

The trade finance of standard chartered bank takes care of the commercial activity related

issues, particularly those related to import and export finance services. Some of the

services are:

Trade finance facilities including counseling, confirming export L/Cs and issuing of

import L/Cs, backed by its international branch and correspondent loan network bond and

guarantees project finance opportunities for import substitution and export oriented

project.


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5.1.4 Treasury Division

The foreign exchange and money market operation of the standard chartered bank in the

world is extensive. Exotic currencies happen to be one of its special areas of strength. A

24 hour services is provided to customers in Bangladesh through the banks network of

dealing centers placed in the principal of the world. The banks treasury specializes in

offering solutions to those who wish to manage interest rate and currency exposure that

result from trade, investment and financing activities of other dynamic economies of the

region. Treasury operations are developed in line with changing market conditions to

provide the best services to its customers.

5.1.5 Financial Institution Department

Financial Institution Department is a specialized banking unit of standard chartered,

providing products and services to the specific needs of other banks and financial

institutions. It assists the local banks by taking care of their cross border business through

the worldwide standard chartered bank networking over 40 countries. It offers various

services like L/C confirmation, negotiation, inter and intra bank guarantee, local bill

discounting, L/C Advising, L/C transfer, L/C amendment advising, reimbursement

undertaking and authorities, fund transfers, Export proceeds, BDT draft drawing,

International payments, account service (Vostro account management).

5.1.6 Consumer banking division

Superior retail banking division comprising a wide range of deposit and loan products are

offered by the standard chartered bank to its individual customers. The consumer banking

division constantly faces challenges and meets them by developing new products and

services to fulfill the specific requirements of local and foreign customers. Bank offers a

24 hour service in Bangladesh through its Money link ATM network and Phone-link

phone banking services. The below mentioned type of accounts are served by the

consumer banking division.

Personal current account

Personal savings account


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Personal access account

Consumer fixed deposit account

Personal call deposit account

Non-resident foreign currency deposit account

Resident foreign currency deposit account

Convertible Taka Account

Foreign currency accounts for Foreign nationals

Foreign currency accounts for Bangladeshi nationals

Escrow account

Private Non-resident Taka account

5.1.7 Card Division

Card is the latest area that has been identified for rapid development. The bank is one of

the acquirers of three major cards in Bangladesh. Two of the credit cards are VISA and

MASTER CARD and the one is the charge card known as Japan Credit Bureau (JCB).

Standard chartered bank is the subsidiary or secondary agent of the credit cards and a

primary agent of JCB.

SCB started its cards operation in 1989 as a part of retail banking. Initially, SCBs card

market was very small with only 30 merchants. But seeing the economies and the

consumers attitude towards the credit card has given the opportunity to expand their

market base by acquiring high quality merchants in the chosen segment.

5.1.8 Custodial and Clearing service

Headquartered in Singapore, standard chartered equator fulfils the groups strategic

commitment to the provision of custodial service in Asia. Equators customers areprimarily foreign global custodians and broker/dealers requiring cross border information

as well as sub-custodian services. Standard chartered bank, Bangladesh is responsible for

the planning in Bangladesh, but the overall management of the custody business is based

on Equators international business strategy.


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Chapter- 6

6.1 HUMAN RESOURCES DIVISION

6.1.1 Human Resources Division

This department manages recruitment, training, and career progression plan. Standard

chartered bank highlights the importance of developing its people to create a culture of

customer service, innovation, teamwork, and professional excellence. SCB recruits

people by two ways, one is a Management Trainee that has a probation period of six

months and after the probation period the trainee will be counted as an officer and they

will do the different kinds of managerial works and another is Non Management

trainee which does not have any fixed probation period. Time required for training is

department on the recruited persons performance. In case of non management trainee,

two of recruitment is taken place. They are (a) taken signing a contract with some outside

organization for three months and after three months the contract may be renewed or not

depending upon the employees performance. These people coming through outside

contract are called outsource. (b) Taken by signing a contract with the bank for the

three months and after three months the contract may be renewed or not depending on

his/her performance. These people coming through bank contract are called In source.

There are two types of recruitment process in Standard Chartered Bank. One is external

recruitment and the second one is internal recruitment. Employee that are hiring from

other organization is called external recruitment. In this case, bank considers performance

and experience of an individual. Internal recruitment occurs through Internal Job Watch

procedure. The bank evaluates the performance of an internal employee and considers

him/her upon the rating from the Human resource relationship manager (HRRM) & the

Line manager. Under recruitment, there are two forms of employment. One is Full time

employment (FTE) and other one is direct contract (DC) / HR contract.

Full time employment gets all the benefits and facilities of the bank. The salary is range

is higher than direct contractual employee. The entry level position of FTE starts from


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grade 9 and gradually it downgrades. The lower the grades the higher the position holds

the particular employee.

For HR contract, the period of contract is minimum 2 years. In this contractual

employment, the employees wont get any facilities from the bank like, insurance

coverage, lower interest facility and other benefits. Bank can recruit a DC to FTE. The

bank evaluates the performance of an internal employee and considers him/her upon the

rating from the Human resource relationship manager (HRRM) & the Line manager. This

recruitment process is called Internal Job Watch.

6.1.2 Controlling Structure at SCB

Alike all other big multi national companies, management in SCB consists of planning,

organizing, directing, controlling all of the resources of an organization. The goal of

standard chartered bank is to be the Bankers of First Choice. Towards that goal, the

overall planning in the organizations is done at the headquarters level in Dhaka by

Management Committee (MANCO), Headed by the CEO and consisting of the business

heads like Corporate Banking, Consumer Banking, Treasury, Global Markets, and from

the support divisions the heads of Human Resource, Operations and Finance

Departments. They meet once a month or when special situations arise to plan the

strategic decisions. The decision making although, apparently based on a top down

approach, leaves room for participation down to the level of department heads, which are

responsible for carrying out the planning of their department within the broad guidelines

set by MANCOM.

6.1.3 among the broad strategic objectives are:

Creating a congenial work environment

Modernization of the management information system to achieve full automation

by drastically cutting down the paper works in long term.

Focusing on service quality and consume needs

Recruiting and maintaining top grade, efficient employees


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To invest in those technological systems which will upgrade and enhance

financial services

Creating an excellent brand image of the bank.

6.1.4 Personnel Policies:

The number of officers exceeds the numbers of clerk, which is a straight contrast to local

banks specially the nationalized commercial banks. Standard Chartered Bank pays great

attention to recruiting high quality staff through proper evaluation and improving their

skills through structure training. Reward and punishment base on strict performance

evaluation and opportunities of promotion both in country and abroad are two important

features of the personnel policy of Standard Chartered Bank.

6.1.5 Recruiting, Training, and Career Progression:

The recruitment process is based on references, advert isements and internship. Entry

point screening is done by the written test. The medical record of the potential employee

is very important and those suffering from potentially life threatening and performance

deterring diseases are not hired, even if they were otherwise qualified. The placement of

the staffs is done in two ways. Either the employee undergoes a management trainee

program with a probation period of nine months and is categorized as an officer leadingto various managerial jobs, or is recruited at a non management level as banking

assistance or support officer. There is a structured training framework for all the

employees, and a channel for moving people from national to international positions.

International graduate recruitment and personal skill development for entry level

employees are a part of the human resource development efforts at Standard Chartered

Bank.


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6.1.6 Planning, Organizing, directing and controlling:

The top down planning approach is mostly followed at standard chartered bank. The top

managers have the authority to decide how they will achieve their goal because SCB

group worldwide decides the goal. The business bank mainly does planning and retail

bank division, IT department provides all the assistance and information that is required

to create and execute long term and short term planning. Planning and IR department

provides all the assistance and IT and other infrastructure in order to reduce the

paperwork IT has taken a plan to achieve the long term plan. One branch manager in each

of it is managing SCB but every on has some assigned work to do for the day they cannot

deny this. Sitting arrangement is created in such a way that co-workers can sit close to

each other and have sharing of their work and at the same time can have easy contact

with each department coordinator/ Head. The work environment is very friendly. The

room contains sufficient amount of light and is always cooled by high capacity air

conditioners.

6.1.7 Chain of Command:

Standard Chartered Bank in Bangladesh follows a hierarchy pattern of command. The

Chief Executive Officer (CEO) for the country reports to the regional manager, MESA in

Dubai. All other departmental heads at the headquarters report to the CEO. A manager or

Senior Manager reports to the divisional heads. The respective branch managers or

branch sales and service managers (BSSM) are responsible for the performance of their

unit. Each branch is organized functionally along line divisions with some support

facilities and the assigns takes to his/her subordinate personnel and supervises their

performance.

An organ gram of different division of the bank is given in the next few pages

separately:-


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Chain of Command

Finance and Administration Division


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Human Resource Division


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Chapter- 7

7.1 JOB DESCRIPTION

7.1.1 Job description in Standard Chartered Bank

A job description is a list that a person might use for general tasks, or functions, and

responsibilities of a position. It may often include to whom the pos ition reports,

specifications such as the qualifications or skills needed by the person in the job, or a

salary range. Job descriptions are usually narrative, but some may instead comprise a

simple list of competencies; for instance, strategic human resource planning

methodologies may be used to develop competency architecture for an organization, from

which job descriptions are built as a shortlist of competencies.

7.1.2 Creating a job description

A job description is usually developed by conducting a job analysis, which includes

examining the tasks and sequences of tasks necessary to perform the job. The analysis

considers the areas of knowledge and skills needed for the job. A job usually includes

several roles. The job description might be broadened to form a person specification or

may be known as Terms of Reference.

7.1.3 Roles and responsibilities

A job description may include relationships with other people in the organization:

Supervisory level, managerial requirements, and relationships with other colleagues.

7.1.4 Goals

A job description need not be limited to explaining the current situation, or work that is

currently expected; it may also set out goals for what might be achieved in future.

7.1.5 Limitations

Prescriptive job descriptions may be seen as a hindrance in certain circumstances.


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who have third division in graduate degree wont be able to convert in permanent

employment.

After selecting a candidate upon matching with the applied post with the educational

qualifications and experience, the candidates must complete an online assessment test. If

he/she failed to achieve the passing score then the candidates hiring process will be

declined automatically.

Also, there are some specific Hiring programs of SCB that hires through online

recruitment procedure. For example, International Graduate (IG) program, Fast track

program, Management Trainee program. For IG program candidates must be a MBA

graduate otherwise he/she will not be able to complete the application form.

So, Standard Chartered bank is highly disciplined with job description for selecting a

candidate through job openings. And it gives much importance on job description, and

follows the actual procedure for selecting an employee. If candidates qualification does

not meet with the needed requirement of a job, then SCB decline the hiring process for

that specific candidate.

Example of Job descriptions are given below:-


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JOB TITLE : SALES TEAM MANAGER

DEPARTMENT : BRANCH SALES AND SERVICE, CONSUMER BANK

REPORTS TO : BRANCH SALES AND SERVICE MANAGER

Scope of Role:

To lead a team of Sales Consultants to achieve the team sales target by maximizing existing customers /

acquisition / referral opportunities and providing quality customer service.

Key Responsibilities/Challenges:

1. To manage the day to day planning, operations and problem solving of Salespersons;

2. To ensure that salespersons achieve specified sales targets and service standard;

3. To conduct staff meeting and provide support and updates for sales promotion and activities,procedural changes, management directives, etc.

4. To ensure Salesperson meets with internal control, compliance and audit standards;

5. to comply with all applicable money laundering prevention procedures and, in particular, report

and suspicious activity to the unit money laundering prevention officer and line manager;

6. To train and develop new sales staff;

7. To develop action plans to improve team performance;

8. To provide coaching and monitoring to salesperson to facilitate staff retention.

SELECTION CRITERIA:

1. University / College degree, or equivalent / better. Good English speaking as well as in writing;

2. Relevant experience in a sales in a financial services;

3. Highly motivated and drove by number, strong interpersonal skills and demonstrate leadership

attributes.


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Chapter- 8

8.1 RE-HIRE PROCESS

8.1.1 Rehire Process of Standard Chartered Bank

The rehiring process of Standard Chartered bank is only applicable for Direct Contract

(DC) employees. Employees who are hired through HR contract needs to renew their

contract period every two years because the HR contract only valid for two years. So all

the employees under this contract must renew their contract period, if the company wants

him/her to continue work any further.

The policy of Standard Chartered Banks contract renew process is refers to rehire

process that is, after ending two years contractual period the candidates will have to re-

hire as a new employees and the candidate should go through the same procedures of a

new hiring employee.

The rehire process is only applicable for Fixed Term Worker and Contingent workers

(Agency worker, Management Consultant, and Independent Consultant & Outsourced

Worker).

If the line manager wishes to extend the contractual period of an employee then the Line

manager has to first terminate the fixed term contract in MSS and work with the Human

resource relationship manager (HRRM) / recruiter through the re-hire process. An email

notification will be sent to the Line manager to remind him of the upcoming end of a

contract.

The system auto-terminates the worker on the last day of the contract if the contract has

not been extended by the line manager before the contract end date. The effective date of

termination will be the contract end date +1.


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When the contract staff is automatically terminated on the contract expiry date, all the

system access will be de-activated. The salary of that particular employee will be stopped

on that day of expiry. If and employees contract expires in the middle of the month then

his/her salary will be given half based on the expiry date. The employee will no get any

benefits and wages until the contract renews. Notification will not be sent to the line

manager- HRRM after termination. It is the responsibility of the line manger to extend

the contract period for fixed term and contingent workers.

Depending on whether there is an extension or a termination, the appropriate

administrative work will be done by the HRAS team. It includes generation of letters,

sending the payroll instruction form and other related activities. All line managers and

HRRMs should have a valid email address in the system in order to receive the reminder

emails.


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Chapter- 9

9.1 ACTION RESEARCH

9.1.1 Problems regarding Re-hire process of Standard Chartered Bank

When the contract staff is automatically terminated on the contract expiry date, all the

system access will be de-activated. The salary of that particular employee will be stopped

on that day of expiry. If and employees contract expires in the middle of the month then

his/her salary will be given half based on the expiry date. The employee will no get any

benefits and wages until the contract renews.

The Rehire process takes approximately 14 days to complete. The firs step is for the line

manager is to raise the Job requisition (JR) in the system. After raising the JR the

candidates need to take approval of Department head and specific HRRM of the business.

Then employee needs to submit all educational certificates and necessary documents to

HR department.

From this step, the HR division will take over the rehire process for that particular

employee. The HR personnel will conduct Contact point verification (CPV) which

requires 5 working days to complete. After the CPV report the HR personnel generates

the appointment letter. After accepting the appointment letter by the employee the HR

division needs two days to create Bank ID for that employee. After compilation of bank

ID, the HR personnel declare the joining date which is the new contract starting date for

the employee. The employee needs to come on that specific date to HR department and

fill up and submit a Joining documents.

So this whole process takes 14 days to complete. The problem arises where, if a

employees contract expires at the first date of a month then the next contract renewal

date will be in the middle of the that month. So the employee is losing half of a month

salary.


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Sometimes an employee fails to provide all the necessary documents on time to HR

department which is needed for the rehire process. This will automatically delays the

rehire process to be finished. Sometimes the bank fails to complete the CPV on time

which also delays the process of rehire. In this type of cases the employees suffers for a

month or over. This greatly hampers the employee in terms of banks benefits and salary.

The employee may lose salary for a whole month or two. In this time, the employee cant

use any system related work because of deactivation of bank ID.

9.1.2 Methods used during my Action Research:-

Interview method

During the research I used personal & group interview method. I asked the questionsgenerally face to face. Sometime only for the appointment I used the telephonic method.

Questionnaire method

Mostly I used the proper sequencing of the questions

I used rating scale method

Reason:- I think that this type of question is very easy and attractive to give the answer

for respondent.

I also used multiple choice type questions.

Reason:- because this type of question is also easy for the respondent to give the answer.

This is also helpful for clear and reasonable analysis.

Open ended:- this type of question I also used in the form of personal interview.

9.1.3Research Design

The design that is used in this project is exploratory design. The reason for choosing this

design was to get clear response from the employees.

I also used descriptive research design.


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9.1.4 Research Instrument used

In this research I used mainly the structured questionnaire for getting the different type of

information.

9.1.5 Sample Size

My sample size for this research report was of 50 individuals.

9.1.6 ANALYTICAL TOOLS USED

Types of charts are used:

1) Pie


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Chapter- 10

10.1 DATA ANALYSIS AND INTERPRETATION

Data Analysis & Interpretation

Awareness of Job descriptions in Standard Chartered Bank

70%

12%

18%

Unaware

Aware

Highly aware

Interpretation:According to the above mentioned question, it was asked that whether

the employees have knowledge about the Job description of Standard Chartered Bank or

not. Therefore it can be interpreted from the above graph that 70% of the sample sizes

(Which is 35 employees) are aware of Job description and 12% of the sample sizes

(Which is 6 employees) are fully aware of it, whereas 18% of the sample sizes (Which is

9 employees) are unaware of job description in Standard Chartered Bank.


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Importance of job description in Standard Chartered Bank for recruiting an

employee

14%

20%

48%

18% Low

Nuetral

High

HighlyImportant

Interpretation:According to the above mentioned question, it was asked, how important

is job description of Standard Chartered Bank for hiring an employee? Therefore it can be

interpreted from the above graph that 48% of the sample sizes (Which is 24 employees)

thinks the importance of Job description is high and 18% of the sample size (which is 9

employees) gives high importance on Job description, whereas 14% of the sample sizes

(Which is 7 employees) thinks the importance of Job description is low and 20% of the

sample size (which is 10 employees) stays neutral about the importance of Job

description of Standard Chartered Bank.

Awareness of Re-hire process of Standard Chartered Bank

18%

82%

Aware

Not fully aware


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the employees have knowledge about the re-hire process or not. Therefore it can be


are aware of the process whereas 18% of the sample sizes (Which is 9 employees) are not

fully aware of the procedure.

Problems regarding the current hiring process in Standard Chartered Bank

12%

16%

72%

Yes

No

Understandable


the employees face problems regarding the current re-hiring process in Standard

Chartered Bank or not. Therefore it can be interpreted from the above graph that 72% of

the sample sizes (Which is 36 employees) face problems regarding Re-hire process

whereas 12% of the sample sizes (Which is 6 employees) havent faced any problems

regarding re-hire process and 16% of the sample sizes (which is 8 employees) considers

the procedure to be understandable.


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Nature of Re-hiring process in Standard Chartered Bank

12%

88%

Simple

Complex


the employees think that the current re-hiring process of Standard Chartered Bank is

simple or not. Therefore it can be interpreted from the above graph that 88% of the

sample sizes (Which is 44 employees) thinks the Re-hire process as complex, whereas

12% of the sample sizes (Which is 6 employees) thinks the Re-hire process as simple.

Does the procedure of re-hiring affect the salary/wage?

100%

0%

Yes

No


the Re-hiring process affect the salary/wage of an employee or not. Therefore it can be


agrees that the Re-hire process of Standard Chartered Bank affect the salary/wage of an

employee.


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Acceptance of losing salary that results due to current rehiring process

88%

12%

Not Acceptable

Acceptable


the employees has acceptance over losing their salary due to re-hire procedure or not.

Therefore it can be interpreted from the above graph that 88% of the sample sizes (Which

is 44 employees) do not accept, whereas 12% of the sample sizes (Which is 6 employees)

has given their acceptance over losing salary due to re-hire process of Standard

Chartered Bank and addresses it to as justifiable.

Extent to which you feel that the bank should change the rehiring procedure

12%

14%

6%

68%

High

Low

Very High

Nuetral


the employees feel that the bank should change the re-hiring procedure or not. Therefore

it can be interpreted from the above graph that 68% of the sample sizes (Which is 34


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employees) feels that the bank should change the procedure and rated the extent to be

high and 14% of the sample size (which is 7 employees) rated the extent to be very

high, whereas 6% of the sample sizes (Which is 3 employees) feels low in terms of

changing the procedure of re-hire and 12% of the sample size (which is 6 employees)

stays neutral in terms of changing the re-hire process.


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Chapter- 11

Action Research Findings, Solutions and Recommendations

11.1.1 Findings

After completing the questionnaire survey in the context of Standard chartered bank

rehire process the following findings are found-

More than 70% of the sample size have knowledge over job description in

Standard Chartered Bank

Almost 70% of the sample size thinks that job description is important for

different job opening in Standard Chartered Bank.

More than 80% of the sample size were aware of banks re-hire process

More than 70% of the sample size considers the re-hire process to be problematic

and most of the contractual employees have faced problems during re-hire

process.

More than 80% of the sample size considers the re-hire process is complex

100% of the sample size agreed on the fact that re-hire process does affect the

salary

More than 80% of the sample size said Not acceptable regarding losing

salary during re-hire process

More than 80% of the sample size thinks that the re-hire process of Standard

Chartered Bank should be changed


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11.1.2 Recommendations

The first solution would be- Standard Chartered Bank can introduce dedicated

software to Human Resource department which can ease the re-hire process.

The bank should set up such software which will hold all the records of a

contractual employee starting from the first day of hiring till end of the

contract period.

Whenever the contract period come to an end the system will automatically

detect the ending date will renew the contract period automatically for next

two years. The system will also give a notification to the line managers 1

month prior to end of contract so that the line manager can get enough time to

arrange all the necessary approvals and documents.

Within the month the employee will prepare all the documents and provided

the needed approval to HR division. HR personnel will only input the

approval into the system and the system will only check the correct approval

is there or not. After that it will automatically renew the date of the contract.

So in this way, the employee wont lose any salary and feel the process to be

user friendly.

The second solution would be, Standard Chartered bank can compensate or

give overtime bonuses to those employees who are losing the salary while

following the current re-hire process. In the current re-hire process, employees

continue their work with the bank even after the expiration of their contract.

After the expiration of contract the employee works for the bank at the same

time he/she arranges and completes all the formalities that is needed for

renewing the contract. Employee loses nearly half of a months salary because

the re-hire process takes approximately 14 days to complete after the contract

expire.


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The bank can compensate to the employees who are losing the salary. The

bank can make system software that will remember the amount of days and

employee working after expiration of the contract. So this will tell in the

future that how many days the employee worked after his expiration of

contract.

So if an employee works 15 days with the bank after ending the contract then

after renewing the contract he/she will get the 15 days salary at the end of the

month. By doing so, employee will not have any complaint against the re-hire

process and feel the process to be hassle free.

11.1.3 Conclusion

Standard Chartered Bank is the worlds leading emerging markets bank headquartered in

London. Their businesses however, have always been overwhelmingly international.

Job description is very important for hiring a candidate in standard chartered bank.

Standard chartered bank focuses highly on Job description before recruiting and

employee. In standard chartered bank, different qualifications needed for various job

types. For contractual employee, educational requirements should be minimum graduates

with any division or results. For full time employment, minimum educational

qualification should be graduates with second division or equivalent result. Candidates

who have third division in graduate degree wont be able to convert in permanent

employment.

Standard Chartered Bank currently giving training to the employee and they are focusing

on creating knowledge about the job description among employees and candidates. Even

though from the survey we got to know that few employees of the bank thinks that job

description is not that important or it is not considered to be an important factor for

selecting a candidate, SCB places high importance on Job description.


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Nowadays, candidates take this job description of Standard Chartered Bank very

seriously because currently SCB hires candidate on basis of job description. Nowadays

HR personnel first examine, whether job description matches with the candidates

qualification and experience or not before hiring a candidate.

Because after selecting a candidate on the basis of his merit and qualification, the

manager taken him/her for granted that the candidate will be able to do certain things on

the specialized field.

The rehiring process of Standard Chartered bank is only applicable for Direct Contract

(DC) employees. Employees who are hired through HR contract needs to renew their

contract period every two years because the HR contract only valid for two years. So all

the employees under this contract must renew their contract period, if the company wants

him/her to continue work any further;

Currently HR division is conducting several meetings with overseas management team to

solve/remake the process which will be easier and convenient for the candidates. HR

division has recently recruited a Talent Acquisition coordinator especially to handle the

direct contract employees and their related issues with re-hire process.

So nowadays the complaint against the rehire process is declining day by day. HR

management is now more concerned about the DC employees and their problems with re-

hiring process.

The network of SCB engages itself for providing best quality banking service in retail,

commercial and corporate banking segments. The countries to enterprises; Multinational,

local corporation and financial institutions are served by SCB. With total asset based of

BDT 17.5 billion and annual turnover of BDT 1.78 billion, SCB in Bangladesh is among

the top performing multinational bank.


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a research on understanding and exploring job description in standard chartered bank

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