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Internship at RBB, Treasury Department

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11 months ago

Internship at RBB, Treasury Department

Organization: Rastriya Banijya Bank, Singha Durbar Plaza, Kathmandu
Department: Treasury
Duration: December 1, 2019 – February 28, 2020

Profile:
Saujan Gyawali, an MBA Candidate at Apex College. A Learner who is determined, aims to add value to work, and has interests in Innovation, Economics outlook, Finance and Data.

A goal is not always meant to be reached; it often serves simply as something to aim at. -Bruce Lee

It was last year in the mid November when I was preparing myself for the internship program. I was in great dilemma to choose organizations; my priorities were on the profiles, role, work culture they offer. As regular Corporate Talk Series in my College, Uniliver Nepal was one of the attendees who encourage graduate students to apply for internship program. I quickly scanned through details like eligibility, duration, company profile and on. So, I applied too. I went through all the formalities process; rounds of interview and shockingly they offered me internship at marketing. It was an absolute not my interest area, I left that offer. Because, I always wanted to uproot in the field of Finance. And, finally one organization caught my eyes. It was Rastriya Banijya Bank (RBB).

Selection Process and Preparation Strategy
Do your duty and leave the rest to the gods. – Pierre Corneille

After I applied for RBB, they offered me internship program at very sensitive department i.e. Treasury Department at Head Office. My interest and importance exactly matched here. Treasury department of a Commercial Bank is responsible for balancing and managing the daily cash flow and liquidity of funds within the bank. It also handles the bank’s investments in securities, foreign exchange and cash instruments. Luckily, all my learning, preparation is likely to applied here. I was saturated with happiness.

Internship Days
On the first Day, I along with my fellow classmates reported to the HR Department and assigned to the respective department based on the application. As I allocated to the Treasury Department, Department Chief briefed about the department’s functions and their expectations of me. Since I wanted to work on the fund management, Intra-Bank activities and understanding the SWIFT functions in the Bank. I was allocated to the Remittance Section. I then interacted with my mentor who was the Assistant Manager of Remittance Section. After discussion with my mentor, he taught me overall process to settle down the remittance in RBB account that sent through SWIFT channel from all over the world. He created my mirror account in Pumori Plus where I can access in assigned tasks. I spent my initial two weeks to understand all the working activities and terminologies, for which I took help from my mentor, referred to bank’s documents, annual reports of RBB, interacted among the employees in that department. Once I was updated with basic, I was assigned project by Deputy Chief to prepare report for NRB (Nepal Rastra Bank) the remittance inflow in RBB from year 2010 to 2019. For this I used several internal sources, data, made blueprint and kept working towards it. Interesting thing I liked was all employees were so humble, down to earth, encourage me in many ways.

For this report, I used all the internal segregation remittance inflow Data of USD, Pound sterling, Euro, INR and other currencies in ten years of time. Prepared report showing various graphs, charts and excel to clear in remittance circulation.

Last two weeks of my internship, I was positioned on the Treasury Back office; back office function is responsible for settlement, confirmation and accounting. Treasury Operations is generally used to refer to the treasury back office. I was under the Back-Office Manager, who taught me lot of process of operation of Back Office, Liquidity management, how commercial banks bids for Treasury Bill, Reverse Repo and so on. The financial statement/reports which became my bible. Where I can spend hour and hour of time analyzing it, understanding it and able to interpret easily. Going into the deep in the subject matter was always my notch of priority. For this I interact mostly with Chartered Accountants CA to understand on Statement of Financial Position, Income Statement, Consolidated Financial Statements etc. I was able to applied all the classroom learning activities in professional ways. This was the best moment of learning I’d crafted.

Learning from the Internship
The capacity to learn is a gift; The ability to learn is a skill; The willingness to learn is a choice. -Brian Herbert

The capacity to learn is a gift.
In life as human beings, we all receive this gift. Research on learning mindsets tells us that people who tend to see their ability as something pre-determined and pre-set are more likely to develop a lifelong love of learning. During my internship period, I was so opened to learn the process and flows. I interact as much as I can on the subject matter, that really helps me to understand complex subject in deeper and interesting way.

The ability to learn is a skill.
If you always possess positive attitude with growth mindset then interpretations of what a learning skillset can incorporate. I applied learning attitudes which sharpen my skills during internship period. Using complex software, working advance level of excel are the best part where I bounced my skills in next level. In today’s world, solving complex problems in simplicity is the tough job so for this one needs to be very proactive with growth mindset.

The willingness to learn is a choice.
As we all have beautiful gift; capacity to learn. If we gradually developed such capacity our willingness will be more distinct and we will be much motivated. For me same things happen, I always tried to learn as best I can so, at the time of internship I was so motivated to perform tasks and that has no limit. That, definitely helps me while I got opportunity to work in the Treasury Back Office from Remittance section. If we are motivated in positive attitude, it will automatically work as the fuel for the skills and accelerate learning potential. Always remember, willingness powers mindset and skillset. Mindset and skillset power willingness.

I believe that if we are fully dedicated towards our goal, career and have hunger of learning we can definitely set sky’s the limit.

Submitted By:
Saujan Gyawali
MBA, Apex College, Old Baneshwor

What is Kaizen Costing?

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11 months ago

What is Kaizen Costing? A Brief Overview and Analysis:

Introduction

Kaizen costing is a system of cost reduction via continuous improvement. It tries to maintain present cost levels for products currently being manufactured via systematic efforts to achieve desired cost level. The word Kaizen is a Japanese word, which is the formation of two words “Kai” means “change” and “zen” means “good”. Simply put, it indicates change for good(or say better). It is based on the philosophy of cumulative improvement. This costing method was first implemented for quality circles in its production by the Japanese company Toyota in the 1970s, however its history dates back to World War II.

It has two dimensions. One dimension considers product (narrow perspective) and another dimension covers asset and organization (broader perspective). Asset and organization specific kaizen costing activities planned according to the exigencies of each deal. Adopting Kaizen costing requires a change in the method of setting standards.

Kaizen costing focuses on “cost reduction” rather than “cost control”.

Strategy

A strategy where employees at all levels of company work together proactively to achieve regular incremental improvements to the manufacturing process. In a sense it combines the collective talents within a company to create powerful engine for the improvements.

Process of Kaizen

Kaizen requires identifying areas for improvement, creating solutions and plans for a rollout and then cycling through the process again for other issues that were inadequately addressed.

  • Involve your employees
  • Find problems
  • Think and find solutions
  • Implement
  • Regularly measure and analyze the results
  • standardize
  • Repeat

Kaizen 5 founding elements

  1. Teamwork
  2. Personal discipline
  3. Quality circles
  4. Suggestions for improvement(everyone’s opinion is valued and considered)
  5. Improved morale

Benefits

It provides immediate results after the proper implementation of the process with a better work environment. The improvement of working conditions can easily be identified as the technique is implemented. There will be reduction in cost, wastages and even the problems are solved in a short time period. This process is widely applicable on workplace-like manufacturing sites, whereas without the application of 5s technique it is not possible for proper stimulation.

    • Sort
    • Straighten
    • Shine
    • Standardize
    • Sustain

Types of wastes that kaizen helps to recover are:

    • Overproduction
    • Inventory holding time
    • Idle time
    • Defective units
    • Transportation
    • Over processing

Character

  • It brings standard on settings of organization.
  • Its focus is on eliminating the obstacles and improve the systems and productivity.
  • It involves on all the areas of the business to make employees empowered to make changes.
  • It allows the organization to respond quickly to changes in the environment.

Drawbacks

  • It brings burden on lower level management.
  • here will be permanent change in systems in which some employees may not be familiarized.

Examples

Toyota : The Japanese automotive manufacturer is one of the most famous companies using Kaizen and they are responsible for making this method known and for proving that its results are measurable, proven and extremely effective. Kaizen’s methodology is one that focuses on the constant improvement of processes by making small and gradual adjustments to the way things are done. Toyota has used this method for decades and has taken advantage of its principles in many different levels of the organization.

Nestlé: Nestlé is a great example of how Kaizen can be used across different industries, in this case, the food industry with one of the most important firms worldwide who have implemented Kaizen. Lean production has been an aspect of Kaizen that Nestlé has taken seriously and they have made great improvements in the reduction of waste by lowering the time and materials wasted on their processes. Lean production is focused on finding ways to not only reduce waste, but also in finding methods to best use the space available, the resources on hand and the best utilization of talent and technology the company has in their arsenal.

Mayo Clinic: The Mayo Clinic is a nonprofit medical practice and medical research group that decided to follow the lead of Toyota by closely studying how Kaizen was able to help such a complex manufacturing operation to improve their practices. They believed that if a company like Toyota could use Kaizen, they could do it as well by adapting the philosophy to health care. The industry of health is very complex and there are many moving parts to it that can be benefited by Kaizen. Methods, waiting times, handling of patient records and the best use of resources are areas in which Kaizen can make a difference and has done so in the case of Mayo Clinic and other healthcare organizations worldwide.

Conclusion:

Kaizen technique has been followed increasingly since the 1970s. It has been followed by many of the multinational companies as per the examples given above and many more. This technique has taken the working process to upgrade level along with systems, morale, technologies, proper maintenance for safe and innovative working environments. It has made the organization to receive the level of lean production processes like cost reduction, no overproduction or production as market demand or needs, or say full efficient production and effective business formation.

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