Many Operational Risk events are taking place in the industry, which is in increasing trend. The risk event types indicate that it is happening on account of inadequate systemic infrastructure, unskilled human resource depending on a few IT personals and inadequate knowledge and skills on IT of the senior officials who supervise IT personals.
There is a saying – ‘If you fail to plan, you plan to fail’. Budgeting is more about planning – planning of our spending to achieve certain goal in a particular given time period. Budgeting is a process of creating a plan of our spending on a proper manner. This is, in fact, a tool of our planning. Our success depends on a proper planning. Therefore, we need to prepare our budget very carefully taking into account complete information, future priorities/ goals, resources etc.
Due to the globalization of the economy, commercial banks are expanding their nationwide presence. The retail business is another important source of banking revenue, offering high margin transactions, a low non-performing loan ratio, risk diversification, and a low risk of default. Although self-service banking (automated teller machines) and internet banking offer customers convenient real-time access, branch banks provide more convenient and people-friendly service.
The trade of counterfeit currency is a big challenge over the world and financial institutions are places where most of transaction takes place. But still some foreign currencies are not so familiar for bankers. Even they don’t know how they look. The system applied in bank is just traced the currency number, customer phone number, keep the Xerox copies of passport and other travel documents. To produce fake passport along with counterfeit currency is trend for fraudsters.
Traditionally banking activities related with card and ebanking products are considered to be head office functions as a result training on such products is limited to staff of IT Department of Card & eBanking Department. On the other hand, staff at branches who are directly responsible for show casing the product to the customers, selling them and support customers when they face problem are deprived of such training.
The workshop will focus on developing conceptual skills of staff working in the Cash Area as well as provide a holistic environment for staff to clear up issues being faced on a day to day basis in their work place. The major aim of this Training Program is to make the participants aware about the theoretical as well as practical aspects of Cash Management. The Program is intended to equip the participants with knowledge so at to enable them to conduct their day to day operations independently.
Program Takeaways:
· Through understanding of visionary roles and responsibility of Administration department and Inventory management functions enabling them to add substantial value in the value chain.
· Enable the related functions to take lead role in Organizational change process of conversion into customer (Internal/external) centricity, techno-savvy processes for enhancing efficiency as well as promote better risk management practices.
Traditionally banking activities related with card and ebanking products are considered to be head office functions as a result training on such products is limited to staff of IT Department of Card & eBanking Department. On the other hand, staff at branches who are directly responsible for show casing the product to the customers, selling them and support customers when they face problem are deprived of such training.
The country received the inward remittance of about Rs 550 billion in In FY 071/72 only, which is about 20% on the total GDP of the country. Notably, Nepal is ranked in the 7th Position in terms of remittance's contribution in the GDP.
Whilst the inward remittance is contributing significantly in the economy and enabling to uplift the life standard of people and supporting BFIs to increase FCY trading / revaluation gain and fee income, many operational risk events are also taking place along with increase in remittance business.
