Chinmay Dharap | Ex Axis Bank (Treasury)

Chinmay is currently a 2^nd year PGP student at IIM Ahmedabad. Prior to joining IIMA, he worked at Axis Bank from Nov-16 to May-19 in the Asset Liability Management team in Treasury. He is a Chartered Accountant and a CFA Level III candidate. Chinmay will be sharing his experience from his stint at Axis Bank.

Interview

How did you recruit for this role? What would your advice be for potential candidates aspiring to get here? (recruiting strategy, cycle, process etc.)

• Axis Bank hires for its Treasury roles through lateral placements, B-schools and CA campus placements. For campus placements, treasury front office roles are offered in premier B-schools or for CA rank holders.
• The hiring is through a panel interview, with questions based on articleship experience and technical knowledge to gauge interest, knowledge and cultural fit.

What are the key skills that are required for this role?

ALM is responsible for managing the funding and investment profile of the bank through market instruments.

• Primary knowledge: Interest and primary knowledge about the financial markets is a requisite. This includes knowledge of accounting, macroeconomic fundamentals, risk management and financial instruments.
• Communication and negotiation skills: Since the job involves dealing with brokers, clients, fellow traders on a daily basis, communication skills are critical for being successful at the role.
• Composure: Market roles require quick actions without making errors. So, being able to work under pressure and strict deadlines is need-to-have.

What is the typical feeder profile (typical previous work experience) for this industry in general and for your firm in particular?

For ALM role in Treasury, most banks hire through campus placements, or laterally from other banks or corporate finance departments of large firms. Prior work experience/industrial training stint in a bank/NBFC or in audit of bank/ investment firms is an advantage.

Is there an education path that is preferred for getting a role in this industry?

Education backgrounds relevant to finance and economics are preferred for the role. Most team members are CAs, MBAs or economics graduates.

What was your total team size and what is the typical team staffing on a case/deal?

Typical size of the ALM team is 4-6 individuals

What was a typical day at work for you?

Typical day is divided into 3 categories:

• Portfolio management (40%): Team meetings to determine strategy, evaluating new opportunities
• Trading activities (40%): Executing buy/sell trades, auction participation
• MIS reporting (20%): weekly, monthly reporting for presentation to the senior management

What is the typical exit that people get from this role?

Exits are restricted to the banking industry, with most people moving out as ALM/ Treasury heads for smaller banks, trading and strategy teams in peer banks

What are the pros and cons about this role?

Pros

The role provides a great opportunity to get a birds-eye view of the functioning of a bank, and develop an understanding of the domestic and international financial markets.

Cons

Being restricted to one industry and limited exit options could be a drawback of the role

What were your typical work hours in a week (including weekends)?

Work is concentrated during market hours, and a few extra hours for analysis and MIS. Average week involves 45-50 hours of work, with weekends respected

How do the responsibilities evolve as one grows in this industry into senior roles?

The responsibilities remain similar for senior positions. However, the portfolio size and product coverage increases as one grows into senior roles.

What would be your advice for people aspiring for a similar role?

A treasury role with a large bank is a great place to start post CA for those looking to make a career in the financial markets.