Report on Human Resource Management at Premier Bank

Preface:

Education being the first priority in human life has been developed for hundreds of years as a weapon to enrich its resources hidden inside the skull to overcome all anxieties and uncertainties and to proclaim its dominance on the earth attaining the entitlement of “Best Creatures” of all. Education to be very precise from its sense of understanding as gateway to entire into an atmosphere of realization of the environment, the Earth, broadly the Universe surrounding us for the development of attitude and improvement of skills for doing the needful in practical life. But due to insufficient job accommodation in the job markets in recent decades education is in an age of competition. Severe competition has taken place among the new generation talents, as more skilled and highly educated smart human resources are the retirements of the employers. So skill developments beside the formal education are now motto to the modern educational institutes. With this perception different Universities and institutions in Bangladesh have already upgraded the procedures and standards of teaching in both quantitative and qualitative way following the international standards and curriculums. In connection with that a remarkable measures have been initiated in BBA program to understand the job environment and also a mandatory assignment BBA degree in EWU for the completion of the under degree as well as to acquire practical knowledge as stated above. This report has been prepared on the basis of internship, which has been conducted with Premier Bank Limited, Kawran Bazar Branch, Dhaka in connection with the Head Office of the same Bank.

The Premier Bank, Kawran Bazar, Dhaka is an General banking branch. This branch runs according to the Govt. Law, rules and regulations. 

Origin of the Report:

Project Report a practical course of BBA program, this report is done. This is an individual report. I have been working at Kawran Bazar Branch of Premier Bank Limited and supervised by experienced executives and officers to have general idea about the organizational culture of a private commercial bank in Bangladesh. The standard procedure for the long, formal report is followed here as par my Project Report instruction.

Purpose of the Study:

 Purpose of the Study: 

Basically Premier Bank Ltd offered me to choose The Project Report Human Resource Management at Premier Bank”. The findings of this study will help me to increase the Practical knowledge of the bank. The purposes of the HR are given below::

• To do an extensive research on Human Resource Practice in Bank.
• To understand the banking environment of private commercial bank in Bangladesh.
• To participate in the socio-economic development of the country.

Sources of Data:

The data required for our report are collected from various sources. Internal bank policies of different sectors were collected through conversation with bank officials. Some data were also obtained by my day-to day activities in a bank. The report depends not only on the financial statement but also the internal year wise data on loan and advances. Financial statement of the since its operation (1999-2005) were collected from annual report. Some information provided in web site of the bank is also used in my report. The formulas, concepts and related information are accumulated from various books.

LIMITATIONS:

1.  It was very much hard to collect information

2. The HR information of PBL is not available in the web site.  

INTRODUCTION of PREMIER BANK PROFILE:

The Premier Bank Limited is incorporated in Bangladesh as banking company on June 10, 1999 under Companies Act.1994. Bangladesh Bank, the central bank of Bangladesh, issued banking license on June 17, 1999 under Banking Companies Act.1991. The Head Office of The Premier Bank Limited is located at Banani, one of the fast growing commercial and business areas of Dhaka city.

CORPORATE INFORMATION:
Authorized Capital: BDT 200 Crore
Paid up Capital: BDT 169 Crore

VISION OF THE BANK:

The Bank has clear vision towards its ultimate destiny – to be the best amongst the top financial institutions.

MISSIONS OF THE BANK:

• To be the most caring and customer friendly provider of financial services, creating opportunities for more people in more places.
• To ensure stability and sound growth whilst enhancing the value of shareholders investments.
• To aggressively adopt technology at all levels of operations to improve efficiency and reduce cost per transaction.
• To ensure a high level of transparency and ethical standards in all business transacted by the Bank.
• To provide congenial atmosphere which will attract competent work force who will be proud and eager to work for the Bank.
• To be socially responsible and strive to uplift the quality of life by making effective contribution to national development.

 BOARD OF DIRECTORS:

The Board consist of 12 (Twelve) Directors. The members of the Board of Directors of the Bank hold very respectable positions in the society. They are from highly successful group of Business and Industries in Bangladesh. Out of 12 members one is from Taiwan. Each member of the Board of Directors plays a significant role in the socio-economic domain of the country.

BRANCHES:

At present Premier Bank Limited have 26 existing branches and 8 proposed branches. They are Agrabad, Ashugonj, Banani, Bongshal, Barishal, Bhairab Bazar, Dhanmondi, Dilkusha, Elephant Road, Gulshan, Imamgonj, Joydebpur, Kawran Bazar, Khatungonj, Kakrail, Khulna, Meghnaghat, Mohakhali (Islami Banking), Moulavi Bazar, Motijheel, Narayanganj, O.R. Nizam Road, Savar, Sylhet, Tongi, Uttara.

 COMPETATIVE STATEGY:

Premier Bank Limited made an excellent competitive strategy. That’s why, they play a role as a market leader. PBL is now one of the banks among top five bank of Bangladesh.

 COMPANY PAYMENT PHILOSOPHY:

There are 3 philosophies to maintain the pay structure of the employees of a company – Lead Policy, Lag policy & Match Policy. As one of the reputed bank PBL uses Match Policy. Generally PBL match the payment rates with their competitors and prepared an effective payment structure.

PREMIER SMS (SMS BANKING SERVICE):

Premier Bank launched Premier SMS (SMS Banking Service) on 30 January 2006 at Pan Pacific Sonargaon Hotel, Dhaka.

 MEET THE INSTANT E-AGE BANKING TOOL:

In today’s business environment, with so many deadlines to fulfill, appointments to meet and meetings to attend, people are hard pressed for time.

As a leading private sector bank in Bangladesh, The Premier Bank Limited presents SMS Banking Service. Now customers can be informed about banking transactions and inquiries through our SMS Banking service. They can check their balance, stop a cheque payment, or even get their statements.SMS Banking service of PBL provides customers with real time account information management by using mobile phones and instruction capabilities from the mobile phones at a true “anywhere, anytime, anyhow” convenience.

SMS (Short Message Service) Banking is one of the modern banking features. This is the most convenient, low-cost and quickest way for banking.  The service is available round the clock seven days a week.

Premier Bank SMS Banking brings customer’s bank accounts to their fingertips. It works using Short Messaging Service (SMS) technology. Finally, an account that travels with customers, anywhere they go!

ONLINE ANY BRANCH BANKING:

PBL has set up Wide Area Network using Radio, Fiber-Optics & other available communication systems to provide any branch banking to customers. Customer of one branch is now able to deposit and withdraw money at any of our branches. All Branches are included in our Wide Area Network. No TT/DD or cash carrying will be necessary.

ISLAMIC BANKING OPERATION:

In order to serve those Customers who neither Receive or Pay Interest, PBL have decided to open separate branches based on SHARIAH PRINCIPLES. The activities & book keeping will be kept separate from the Conventional Branch Operations.

Islamic Banking service is now available at MOHAKHALI BRANCH and SYLHET BRANCH. These two branches are run under Islamic Shariah Principles.  Former Chairman of Islami Bank Limited, former secretary of Government of Bangladesh and former Deputy Governor of Bangladesh Bank & Chairman NBR– Mr. Shah Abdul Hannan is also the chairman of Islamic Shariah Council of Premier Bank. The council also consists of renowned Islamic scholars like Dr. A.R.M. Ali Haider, Professor, Department of Islamic Studies, University of Dhaka, Moulana Ruhul Amin Khan, Executive Director of the Daily Inqilab and others who determine the guiding principles for operation of Islamic Branches.

Their investment and deposit figure for these two Islamic branches in the year 2006 was Tk. 78,20,79,249/- and Tk. 1,67,54,05,885/-

 EVENING BANKING SERVICES
”Evening Banking”, a unique service of The Premier Bank, only for receiving Cash and Documents beyond transaction hours till 8 o’clock in the evening, is available at Premier Bank. The service is attractive for those, like shopkeepers, who accumulate cash as sales proceeds in the afternoon when counters of Bank branches usually remain closed.

 ONLINE BRANCH BANKING SERVICE
ONLINE BRANCH BANKING SERVICE is designed to serve its valued clients. Under this system, clients shall be able to do the following type of transactions:

• Cash withdrawal from account at any branch of the Bank.
• Deposit in account at any Branch of the Bank.
• Transfer of money from your account to any other account with any Branch of the Bank.

 TRANSACTION LIMIT
Unlimited transaction.

ONLINE TRANSACTION MEMBERSHIP FEE

No Membership fee is required.

CHARGES FOR ONLINE TRANSACTION
Different charges for online transaction except inter zonal transactions.

SWIFT:

Premier Bank Limited is one of the first few Bangladeshi Banks who have become member of SWIFT (Society for Worldwide Inter-bank Financial Telecommunication) in 2002.  SWIFT is members owned co-operative, which provides a fast and accurate communication network for financial transactions such as Letters of Credit, Fund transfer etc. By becoming a member of SWIFT, the bank has opened up possibilities for uninterrupted connectivity with over 5,700 user institutions in 150 countries around the world.

DEPOSIT PRODUCT:

• Deposit Account / Fixed Deposit
• MIS / MSS
• Double Benefit Scheme
• Education Saving Scheme
• Special deposit Scheme
• Loan / Consumer Credit Scheme / Personal loan

INVESTMENT PRODUCT:

1.      Lease Finance / Apartment finance / Housing Loan

2.      Rural Credit Scheme / SME Finance

3.      Doctor’s Loan / Student Credit Program

 INTRODUCTION STRATEGY OF PREMIER BANK :

Premier Bank Limited has opened a quite few new branches outside and inside of Dhaka. It means that they are following the low cost saving strategy by increasing their selling. Premier Bank Limited has also considered of maintaining of effective information flow system as part of their core strategy. The company has executed a consistent strategy over the past decade by focusing on highly scalable, fee based securities servicing. Their strategy can be listed as follows:

1. Business Review
2. Partnership
3. On-line banking
4. Market Focus
5. Use of Technology
6. New service offering
7. Integration of distribution channel
8. Expand and diversity customer base

A dynamic organization must be supported with its structure. Premier Bank Limited consists of head office, principal branch and other 30 branches throughout the country. And the management style mostly resembles bureaucratic and authoritarian style. Premier Bank Limited imposes strict control and monitors over the activities of its employees.  According to the functions in head office and branch, Head office is considered as a cost center in a whole and branch is known as investment and profit center. Branch operates under the guideline of head office. Management command is downward flowing. All business functional activities such as human resource management, marketing etc must be supervised by head office, and branch has no power to make decision but execute decisions made by head office.

TREASURY DEPARTMENT:

The main task in this department is to transfer money from surplus side to excess side internally.  They borrow cash from branch with excess cash on hand and lend it to the branch with shortage of cash at any time in operation by issuing IBCA/IBDA. They also make short-term investment with other financial institutions to meet the need of cash. They used to do ratio analysis and other required analysis to assist the management about the condition of the bank in time to time. This part is very important for any bank to survive as the bank is running on about 95% debt financing.

SHARE DEPARTMENT:

Share Department is responsible of share transfer, issuing paid-up capital, payment of dividend etc. normally; there is a share department in the Head Office.

CORPORATE MARKETING DEPARTMENT (CMD):

The department is in charge of making marketing strategies and marketing budget at the beginning of the year. Particular activities are briefly shown as followings:

• Liability marketing
• Assets marketing
• Branch expansion
• Mess Media and event management
• Introduction of new products
• Preparation of brochures of new products

All the marketing strategies are made in the head office and then communicated to the branch.

HUMAN RESOURCE DEPARTMENT:

As usual, resource department mainly deals with job recruitment, different types of promotion, raising salary policies, various types of packaging. The aim is to create a dynamic environment by active and enthusiastic participation of individuals. Like every employees of the branch need to fill a leave form and submit it to the head of branch. The form contains who will be responsible for his work part when he/she will be in leave. The form also contains the purpose of the leave and the destination where he/she will be available during the leave period.

FINANCIAL ADMINISTRATION DEPARTMENT (FAD):

It prepares annual reports, collects different statement from branch offices periodically for management and decision- making. In addition, the department also makes budget of deposit, loan, profit, and expenditure monthly, quarterly and yearly. It is also in charge of comparison between budget and actual operations periodically. Any variance is recorded and considered as a mean of management.  If operations in any branch are better than the budget during a period, the branch is given bonus and encourage from head office by an official letter. On the other hand, if operation is worse than the budget for consecutive two periods, the branch is warned. In this case, accounting department would make new budget, which must be reached by the branch. Accounting department in branch firstly makes the budget accordingly, and then submits to accounting department in head office.  Head office will not announce it until it adjusts accordingly.

  INSTITUTE OF TRAINING:

It organizes different types of training programs. All the new Management Trainee will be trained through out the branch for three months and then he will be placed where suitable. This in-house training is being introduced recently, which is a great move, I think, by the top management. Again, there was a seminar, workshop arranged for the branch managers through Bangladesh Bank on regular intervals. There was a seminar on Asset-Liability Management in the head office during my internship period. All the branch managers are the participants in the seminar. PBL has collaboration with BIBM to give basic training on banking to almost all the employees.

INTRODUCTION of ORGANIZATIONAL CULTURE:

Any organization in the society creates it own organizational culture, which gives an invisible standard to its member. Organizational culture varies organization to organization. According to Mr. Josh W. Newstorm, “organizational culture is the set of assumptions, beliefs, values, and norms that are shared by an organization’s members. This culture may have been consciously created by its key members….” (P 102). The culture of PBL can be defined as vertical organization culture and a part of virtual type. Several characteristics of PBL organizational culture is listed as followings:

HIERARCHICAL DECISION

Referring to the organizational structure, PBL is a centralized organization. High –level executives make decisions and comparably low-level executives cannot make decisions, but participate. In a word, high-level managers have more power to be exercised than those managers in low-level.

 PUNCTUALITY

Employees, managers in Premier Bank Limited seldom come late after 8.30 am. And leave the office before 5 pm. actually, all managers, executives, and employees come before 8.30 am. And leave after 5 pm. This affects the members in PBL a lot.

 MAINTAINING ROUTINE JOB

Another characteristic of organizational culture of Premier Bank Limited is that all members deserve to maintain their routine job. Job rotation is hardly practiced. At the beginning of an employees entrance to the organization, the job is assigned will remain with him/her in most of time. Later he/she will be getting trained, promoted on the basis of this job task.

MOTIVATION-ORIENTED

Though maintaining a routine job high practiced in PBL, various types of incentives are being driven towards the employees’ performance. Performance reward, appreciated reward, promotions, holiday bonus, outstanding performance bonus, for example can be seen as strong incentives to employee’s routine job.

FREQUENT TRAINING

Premier Bank Limited has separate departments responsible of training programs, so there are many training programs held in a period regarding different banking field. It can be management training, IT training, operation related training etc.

NETWORKING

It is also a type of managerial tool. By networking in Premier Bank Limited, it means that’s services/products which are impossible to executed by Premier Bank Limited itself, or it is too costly to run it, Premier Bank Limited makes contracts with different agents to offer services/products to Premier Bank Limited’s customers. For an instance, the software used in IT department is the contract relationship between Premier Bank Limited and Software Company. Same in the case of Credit card service, on-line banking system. In all this cases, Premier Bank Limited does not maintain these but manage; the only thing is to make contract with the companies perfect at these jobs. As a result, these companies also become a part of SEBL. And this is used and considered as a characteristic of its culture.

 CO-OPERATIVE:

Managers and officers maintain a friendly working atmosphere, exchanging greetings, like a big family. Specially, officers are very co-operative and helpful towards the new employees, such as interns, trainees etc.

Organizational culture does affect the behavior of the members in Premier Bank Limited and it is also the reason that Premier Bank Limited could achieve such excellent achievement in short span of time.

PERFORMANCE AT A GLANCE

 PRODUCT:

Simply product is a solution of customer needs and wants. A product is an element in the market offering. Product is anything that can be offered to a market for attention, acquisition, use or consumption that might satisfy a want or need.

 LEVELS OF PRODUCT:

In planning its market offering, the marketer needs to thinks five levels of the product

CORE BENEFIT:

The most fundamental level is the core benefit; the fundamental service or benefit that the customer is really being in case of Bank money transaction is the core benefit of product.

 BASIC PRODUCT:

At the second level the marketer has to turn the core benefit into a basic product. For example; Bank’s environment, Air Conditioned, Toilet, decoration etc.

 EXPECTED PRODUCT:

At the third level, the marketer prepares an expected product, a set of attributes and conditions buyer normally expect when they purchase the product. For example, Security of money, correct transaction, smiling face and marketer’s behavior from Bank staffs.

 AUGMENTED PRODUCT:

At the fourth level, the marketer prepares an augmented product that exceeds customer expectations. For example: Bankers offer how you are Sir, take a cup of coffee, wish him/her good luck etc.

 POTENTIAL PRODUCT:

At the fifth level stands the potential product, which encompasses all the possible augmentations and transformations the product might under go in the future. For Example: Top management new idea, policies etc.

PRODUCT DECISION (IN BANK):

Right product decision in the right time is essential for all organization. If focuses on decision about product attributes, branding, pack aging, labeling and product support services.

PRODUCT ATTRIBUTES: Developing a product or service involves defining the benefits and design. In case of PBL various deposit schemes are product.

BRANDING: Brand is a name, firm, sign, symbol, on design or a combination of these intended to identity the goods or services of one seller or group of sellers and to differentiate them from those of competitors. For example CSS (Contributory Saving Scheme).

PACKAGING: Packaging refers the activities of designing and producing he container on wrapper for a product. For example attractive brochure of CSS.

LABELING: The level identifies the product or brand, such as the distinct characteristics of CSS A/C opening. Label may be a part of packaging.

PRODUCT SUPPORT SERVICES: Product support services that augment actual products. More and More companies are using product support services as a major tool in gaining competitive advantage. Incase of PBL’s product 80% loan facility after 3 years of CSS.

FINANCIAL PRODUCT:

Financial product refer the different type of deposit schemes of Bank, leasing or insurance companies which gain something into the shape of interest, premium. Financial Institutions deal with financial product in Bangladesh. The main features of financial product are intangible. We gain from that type of product, but these are not similar to ordinary product existing in the market.

PRODUCT LINE:

A product line is a group of products that are closely related because they function in a similar manner, are sold to the same customer groups, are marketed through the same types of outlets, or fall within given price ranges.

 NEW PRODUCT INTRODUCTION:

New product Introduction can be classified according to (1) Newness to the market (2) Newness to the company resulting in the following six categories of new product:

• New-to-the-world product;
• New product lines;
• Additions in the existing product.
• Improvement / revisions to existing products
• Repositioning
• Cost Reduction;

New Product Planning Process:

New product planning is guided by customer needs analysis:

HUMAN RESOURCE DEPARTMENT IN PREMIER BANK LTD

From the beginning Premier Bank Limited has several departments. They are –

a)      General Service Division (GSD)

b)     Treasury Department

c)      Share Department

d)     Internal Control & Compliance Division  

e)      Human Resource Department

f)       Financial Administrative Department

g)      Institute of Training

h)     Credit Division

i)        Corporate Marketing Department

j)       Leasing Division

k)     Information Technology Division

l)        Credit Card Department

m)    General Banking Division (GBD)

Like other departments Human resource department is very much essential. Human resource department mainly deals with job recruitment, different types of promotion, raising salary policies, various types of packaging. The aim of this department is to create a dynamic environment by active and enthusiastic participation of individuals. Monthly meeting is held up in every month in the Head Office where bank and employee related issues are discussed and solutions are made to develop the mentioned factors and it is maintained by the Human Resource Department.

Human resource department mainly focus on the

• Staffing

By staffing the HR department mainly focus on the planning, recruitment, selection, posting & promotional procedure.

• Administration

Administrative portion of the human resource activities also maintained i.e. HR department also maintains paper works.

• Compensation & Benefits

Maintain the compensation and benefit packages of the employees.

• Training & Development

HR department at first find out the necessity of the training of the employees and implement the training and development program according to the employee’s performance.

There are some organogram by following which the Human Resource Department and other Branches of the bank are maintained. Head Office makes the organogram of Human Resource Division and Branch Management Committee makes the organogram of Branch and one copy is forward to the Head Office. 

RECRUITMENT POLICY:

The success of a commercial bank depends largely on the quality of services rendered to the clients. Quality depends on the competence and the quality of officers and executives. Premier Bank Limited believes in paying competitive salary and emoluments to its employees and to get maximum services out of them. Therefore, the authority of the bank has to be careful in recruiting the right person for the right job.

It should be the duty of the management to analyze the manpower requirement of the organization at the end of every year in each category for effective operations of the bank. The Board of Directors on the recommendation of the Management will be the supreme authority to sanction or to create additional post. Creation of a post implies commitment of fund for long term. Therefore, it is the responsibility of the management to examine the work load and do the job analysis and to look into the real requirement of employees under various categories and to see whether an additional hand is really necessary. Premier Bank must recognize the importance of manpower estimation and accordingly an Organogram should be prepared for Head Office, for each Division & for each Branch. Subject to review from time to time, the competent authority as per power delegated by the Board will give the appointments.

In forecasting requirement for each recruitment the following points shall be borne in mind:

• Sanctioned strength
• Actual strength
• Vacancies
• Additional requirement

After the requirement of personnel is determined, action for recruitment is to be initiated and processed.

RECRUITMENT, SELECTION & PROBATION PERIOD

Recruitment means giving publicity to the availability of the jobs in the Bank and inviting applications from prospective candidates. Recruitment covers talent hunting. Therefore, recruitment policy should aim at right kind of talents. For recruitment of Probationary Officer, Management Trainee Officer, Trainee Junior Officer and Trainee Teller PBL generally go for press advertisement in 2 (two) national dailies. The Human Resources Division handles all matters relating to recruitment and selection of staff function. The following steps may be followed for systematizing the selection procedure in case of selection through press advertisement:

STEPS OF SELECTION PROCEDURES:

a)      Receipt of Application in Prescribed Form of the Bank

b)     Sorting out of Applications

c)      Preparation of short listed candidates

d)     Holding Written Test

e)      List of Desirable Candidates for Interview

f)       Conducting interview

g)      Final approval by competent authority

h)     Investigation of previous employment history

i)        Physical Examination

j)       Appointment & placement

However, when in urgent need, the Bank may recruit employees without the process

MODE OF RECRUITMENT:

a)      All fresh recruitment shall be made through advertisement in National Dailies mentioning the eligibility criteria as mentioned.

b)     Every candidate will appear for a written test. The subject matter of test should be General Knowledge, Mathematics, English etc., Management from time to time may decide Economics/ Banking as. For this purpose, Premier Bank Limited will take the help of outside experts such as IBA, Dhaka University or similar institutes for setting the questions, supervising the examination work, examining and marking the answer scripts and preparing a merit list of the candidates.

c)      A candidate must secure minimum 60% mark in written Test to be eligible for VIVA/Interview. Total number of candidates to be called for VIVA will be 4 times the numbers of employees to be recruited provided they meet the 60% minimum mark criteria. The appointment will be made according to requirement on the basis of a panel to be prepared in order of merit by the Recruitment Committee and after approval of the competent authority.

d)     All people to be appointed by the bank will have to undergo a medical test by the Bank’s approved Physician/Medical Officer so as to ascertain that they are physically and mentally in sound health. In other words no person shall be appointed in the service of the Bank unless he/she is declared physically and mentally fit by a medical officer of the Bank or by any other Medical authority specified by the Bank in this behalf.

OTHER CONDITIONS:

a)      All employees must be a citizen of Bangladesh unless specifically waived by the Board of Directors

b)     During the probation period of one year the employees will get consolidated salary as prescribed by the Board without any other facilities and benefits.

c)      The Bank may take written test for confirmation of an employee in the regular cadre after the probation period is over. If no written test is taken the Recruitment Committee before confirmation will interview them.

d)     During the probation period, the service of an employee may be terminated by giving one-month’s notice or pay in lieu thereof if the service of an employee is not found satisfactory. The Bank may also extend probationary period for the same reason.

e)      All officers recruited through written test shall serve the bank at-least 2(two) years of continuous services. If an officer decides to leave earlier on his/her own then 50% of basic salary to be refunded to the Bank before release. Officers who are drawing consolidated salary; the basic salary shall be the basic of his grade where he is supposed to be absorbed.

f)       At the time of joining, candidates shall bring 3(three) copies of recent passport size photographs, copies of all academics certificates along with the original ones for verifications.

g)      All employees shall give names of two respectable persons from whom written reference may be obtained.

FOUNDATION TRAINING PROGRAMME 

The role of Human Resource Department is to improve the organization’s effectiveness by providing employees with the Knowledge, Skill and Attitudes (KSAs) that will enhance their current and future job performance. The main focus of the Human Resource Department is on the development of job related KSAs. Effective training must address the personal needs of employees; help to learn to grow and to cope with the issues that are important to them.

After recruitment, primary knowledge is given to the employees about Bank & Bank’s service as well as about the job responsibilities of the employees. This training program is called Foundation Training Program. The duration of this training program is for 1(one) month.

TRAINING INSTITUTE:

PBL has specialized Training institute for giving the training to the employees. The preliminary support of this training institute is given by the members of BIBM (Bangladesh Institute of Bank Management).

For the permanent employees, after doing performance appraisal some employee needs training, this is arranged and assigned by the Training Institute.

TRAINING METHOD:

There are 2(two) types of training method.

1. Cognitive Training
2. Behavioral Training’

PBL use Cognitive Training method, which provides verbal/written information, lecture, demonstration and discussion.

JOB DESCRIPTION 

Job description means the summary of the most important features of a job. It identifies the job and describes the general nature of the work, specific task responsibilities, outcomes and the employee characteristics required to perform the job.

Consequent upon the transfer and posting of new officials, reallocation of duties of the officers has become necessary. As PBL have been provided and accomplished their delegated works to the betterment of this esteemed institution, the holy responsibility has bestowed upon their shoulder to care its overall interest keeping in view to achieving their targeted goal. Each and every executives/officers/employees working in PBL’s branches are invariably be punctual in attending office and perform their assigned works/duties sincerely. No one is allowed to leave the office without prior permission from the competent authority of the branch. While performing their allocated works, every one should be vigilant against any fraud forgery. Employees job description also made by Branch Management Committee.

The job descriptions of PBL’s employees are given below.

1. EXECUTIVE VICE PRESIDENT & BRANCH INCUMBENT.

As Branch Incumbent, he / she will supervise all related works of the Branch and overall supervision of fellow colleagues/officials & staff of the Branch. Investment, procurement of deposit and new business for the Branch, maintaining liaison with Head Office and local elites & good customers of the Branch will be in his purview. He / she will also seat with the colleagues for conveying and guiding about different message & to have the position of business.

2. AVP & DEPUTY MANAGER.

He / She will hold the charge as deputy manager of the Branch. He / she will supervise the works allotted to the officers / staff as per this office order. He / she will pass vouchers with joint signature of In charge of different departments. All cheques amounting Tk. 5.00 lac & above must be counter- signed jointly with the Branch Incumbent. He / she will ensure all correspondence/ statements to Head office & other organization. He / she is also assigned to check the daily vouchers properly. As joint custodian, he will hold Branch vault keys and also supervise overall activities of Cash Section. He / she will also hold the Test Key        (Part – I) and implement the job properly. He / she will also supervise the day-to-day activities of General Banking, Investment and Foreign Exchange department of the branch. He / she will keep records of the meeting position, decisions & implementations along with recent incoming and outgoing statements.

Except this, procurement of deposit & vigilant to better customer service shall be considered as prime duty.

3.    SENIOR EXECUTIVE OFFICER.

He / She will perform duties in Investment department & will be the In-charge of this department. He / she will supervise the works attached to respective officers as per office order. He / she will pass vouchers/cheques as required and shall ensure sending of all periodicals / statement such as daily, weekly, fortnightly, monthly, quarterly, yearly, returns etc. to Head Office, Bangladesh Bank etc. All security documents of Investment department must be preserved under joint control and supervision. He / she will also follow-up all investments well ahead of maturity and ensure timely recovery of the same. He / she will also look after foreign exchange transactions, which may finally held in investment purview.  All proposals related to Foreign exchange & Investment will be initiated by him, get approved in time, keep records & ensure all terms & conditions of the approval. He / she will also supervise VISA Credit Card related job done by the concerned official.

Except above, procurement of deposit and recovery of overdue/ stuck up investment related to Investment Department shall be considered as prime duty.

4.   EXECUTIVE OFFICER

He / She will be the In-charge of this department. He / she will supervise the works attached to respective officers/staff of his department. He / she will pass vouchers/cheques related to Foreign Exchange Department and shall ensure sending of all periodicals statement such as daily, weekly, fortnightly, monthly, quarterly, yearly, returns etc. to Head Office, Bangladesh Bank etc. He / she will also supervise all sorts of investment related to Foreign Exchange and shall follow-up monitoring and their recovery. All security documents of Foreign Exchange department must be preserved under his direct control. He / she will also monitor the allocated works of juniors of this section of the branch. He / she will ensure timely follow up of terms & conditions of related approval.

Except above, procurement of deposit and recovery of overdue/ stuck up investment related to Foreign Exchange Department shall be considered as prime duty.

5.   FIRST EXECUTIVE OFFICER (GENERAL BANKING)

He / She will be held responsible for duties of Muraqib as assigned by Head office. He / she will also co- operate in different activities associated with branch banking of different desk. He / she will be involved in different issues for making decision regarding Islami banking and right direction from the view if shariah and supervision thereof. He / she will examine and monitor investment. He / she will maintain HRD related matters of the branch such as leave records, training and other disciplinary tasks.

Except above, procurement of Deposit and recovery of overdue/ credit card shall be considered as prime duty.

6.   FIRST EXECUTIVE OFFICER (INVESTMENT DIVISION)

He / She will be the dealing officer of investment section. He / she will prepare proposal for Investment both for Head Office & Branch sanctions. He / she will also maintain all the related files, registers etc. of Investment. He / she will also prepare vouchers, calculation of profit and posting thereof. He / she will also ensure submission of all periodicals, returns, statements etc. to Head Office & Bangladesh Bank timely. He / she will work as per direction of in-charge of the department. He / she will work for all correspondence works related to Investment Division.

Except above, procurement of Deposit and recovery of overdue/stuck-up investment shall be considered as prime duty.

7.   FIRST EXECUTIVE OFFICER (FOREIGN EXCHANGE)

He/ She will work in Import department under supervision of Foreign Exchange In charge, EO. He / she is entrusted to open letter of credit after completing required formalities.         He / she will maintain IRC, TIN VAT, LCAF and related charge documents related to opening of L/Cs (local, foreign, BTB etc) and amendments if required. He / she is also entrusted to prepare vouchers & posting the same in respective Registers and computer. He / she will prepare all statements, returns; periodicals etc. and ensure submission of those statements to Head Office / Bangladesh Bank timely.

Except above, procurement of Deposit shall be considered as prime duty.

8.   SENIOR OFFICER (INVESTMENT DIVISION)

He / She will be the dealing officer of investment section. He / she will prepare vouchers and also maintain related files, registers and stationeries etc. of Investment department. He / she will prepare proposals of Investment both for Head Office & Branch sanctions. He / she will also ensure submission of all periodicals, returns, statements etc. to Head Office & Bangladesh Bank timely. He / she will pass the daily voucher and ensure to post thereon in PCBank2000. He / she will work as dealing Officer of Consumer Scheme Investment of the branch. He / she will ensure to maintain all types of Investment security/Document file jointly In-charge of Investment Division.

Except above, procurement of deposit and recovery of overdue/ stuck up investment related to Investment Department shall be considered as prime duty.

9.      SENIOR OFFICER (FOREIGN EXCHANGE DIVISION)

He / She will perform the duties in Export department under supervision of Foreign Exchange In charge, EO. He / she is entrusted with the responsibility of export (foreign) bill scrutiny, issuance of EXP form etc. He / she will also work in the foreign remittance. He / she will pass vouchers/cheques related to Foreign Exchange Department and shall ensure sending of all periodicals statement such as daily, weekly, fortnightly, monthly, quarterly, yearly, returns etc. to Head Office, Bangladesh Bank etc. All security documents of Foreign Exchange must be preserved under his direct control. He / she will carry out all types of instruction of the Branch Management.

10.   SENIOR OFFICER (GENERAL BANKING)

He / she will perform duties in General banking department & will be the In-charge of this department. He / she will pass Cash / transfer vouchers jointly with 2^nd man/ Branch Incumbent. He / she will control expenditure of the branch and pass related vouchers jointly with Deputy Manager / Manager. He / she will be holder of Part – II of Test Key and all sorts of security/printing stationery and maintenance of fixed assets of the Branch. He / she will check the daily vouchers (transaction list) properly and preserve the same under lock & key. He / she will ensure sending of all periodical statements such as daily, weekly, fortnightly, monthly, quarterly, yearly returns etc. to Head Office, Bangladesh Bank in time. As In-charge of General banking department & AMLCO, he / she will keep contact with Branch Management and Head Office well in time as and when required and follow the instructions of Head office as well as guidelines of Bangladesh Bank.

Except this, procurement of deposit & vigilant to better customer service shall be considered as prime duty.

11.    OFFICER (FOREIGN EXCHANGE)

He / she will work at foreign exchange department under supervision of Foreign Exchange In charge, EO. He / she is entrusted with the responsibility of scrutiny of Import documents, lodgment and retirement etc. He / she is also entrusted to prepare vouchers & posting of the same in respective Registers and computer. He / she will engage in opening of FC A/C, TC & Foreign currency cash handling. He / she will also prepare all type of statements, returns; periodicals etc. and ensure submission of those statements to Head Office / Bangladesh Bank timely. Besides, he / she will work at VISA CREDIT CARD under supervision of Investment In charge

Except above, procurement of Deposit and recovery of overdue/ credit Card shall be considered as prime duty.

12.        OFFICER (INVESTMENT)

He / she will work as IT In-charge of the branch. He will open PC server machine every day in time & shut down the same after completing day to day work of the branch. He / she will post all cash cheques / vouchers and cancel cheques up to Tk.50,000/= singly and above                 Tk. 50,000/= jointly with another authorized signatory & if exceeding Tk. 5,00,000/=  Manager’s cancellation required. He / she will also ensure online transactions including getting authorization if required. He / she will also ensure of printing out supplementary sheet, General Ledger, Clean cash & statement of affairs etc. daily with due care. Encashment of MTDR/Scheme Deposits with utmost care for all cases (mature/premature) will be done by him. He / she is also entrusted to maintain computer accessories properly for smooth functioning of day to day operation.

Except above, procurement of deposit and vigilant to better customer service shall be considered as prime duty.

14.       OFFICER (GENERAL BANKING)

He / she will work in Accounts department under supervision of General Banking In charge. His / her prime duty is to cheek of Daily vouchers with Supplementary sheet & preservation of the same in safer place under lock & key. He / she will issue PO, DD, TT, MTDR etc under supervision of general banking In-charge and balance the same in time. He / she will prepare weekly telegram and calculation of IBTA profit etc. He / she will also prepare vouchers related to account closing, bills for Courier service/ Nursery/ Security service etc and posting thereof.

Except above, procurement of Deposit shall be considered as prime duty.

15.       JUNIOR OFFICER (FOREIGN EXCHANGE)

He / she will work in Import department under supervision of Foreign Exchange In charge, EO. He / she is entrusted to maintain Local Export Bills and related charge documents including opening of L/Cs (local, foreign, BTB etc) and amendments if required. He / she is also entrusted to prepare vouchers & posting the same in respective Registers and computer. He / she will prepare all statements, returns; periodicals etc. and ensure submission of those statements to Head Office / Bangladesh Bank timely.

Except above, procurement of Deposit and recovery of overdue/ credit Card shall be considered as prime duty.

16        JUNIOR OFFICER (GENERAL BANKING)

He / she will be the dealing officer of clearing section under direct supervision of General Banking In charge.  His / her prime duty is to receive as well as post of all clearing (inward & outward) instrument such as cheque, DD, PO etc. He will also maintain OBC & IBC and maintain the related files. He /will prepare of weekly Meeting position & Daily position for HO, He will prepare salary and allowances and posting thereof. He will also prepare SBS – 1 & 2 for Head office or any other statements for HO / Bangladesh Bank as and when instructed. He will also ensure E-mail checking daily as and when required and maintain a record.

Except this, procurement of deposit & vigilant to better customer service shall be considered as prime duty.

17.       OFFICER GR. – I (CASH IN – CHARGE)

He / she will perform duties as Head Cashier (In-charge of cash) and will hold Vault & Locker Keys. He / she will make payment of cash in counter verifying proper cancellation of cheque by 2(two) authorized officers. He / she will maintain cash sheet receipt / payment, cash balance book and vault register with proper authentication of the closing balance. He / she will also maintain stock of stamp in hand.

Except above, procurement of deposit and vigilant to better customer service shall be considered as prime duty.

18.       OFFICER- GR.- II (CASH)

He / she will receive cash in counter and shall prepare statement in this regard. He / she will make payment of cash in counter verifying proper cancellation of cheque by 2(two) authorized officers. He / she will maintain cash sheet receipt / payment, cash balance book and vault register with proper authentication of the closing balance. He / she will also maintain stock of stamp in hand. He / she will responsible for sending statements of CTR & STR to Head office in time along with other related statements

Except above, procurement of deposit and vigilant to better customer service shall be considered as prime duty.

19.   TRAINEE JUNIOR OFFICER

He / she will work in general banking department under supervision of General Banking In charge. He / she will site in front desk and will open of all types of account & posting the same in computer with full particular. He / she will issue of all types of cheque books including issuance of thank letters to the account holder/introducer invariably on the date of opening accounts. He / she will also maintain of all types of account opening forms, SS Cards etc. He / she will be the Custodian of all cheque books along with other security instruments. He / she will ensure of dispatching of letters in time & maintenance of inward and outward register with preservation of all memos of courier / postal service.

Except this, procurement of deposit & vigilant to better customer service shall be considered as prime duty.

20.       TRAINEE JUNIOR OFFICER (CASH)

He / she will receive cash in counter and shall prepare statement in this regard. He / she will maintain cash balance book, cash analysis book & vault register with proper authentication.

Except above, procurement of deposit and vigilant to better customer service shall be considered as prime duty.

JOB SPECIFICATION: 

The processes which specify the job of an employee i.e. what requirement should needed to be an effective employee of the desired post is called Job specification. It includes the educational qualification, experience, training etc. The job specification criteria of PBL are given below.

RECRUITMENT OF OFFICER AT ENTRY LEVEL:

Probationary Officer, Management Trainee Officer, Trainee Junior Officer and Trainee Teller shall generally be appointment by direct recruitment at the entry points. They shall be on probation for a period of 1(one) year which may be extended by the competent authority if an officer fails to show satisfactory performances during the period of probation. On satisfactory completion of probationary period, they will be eligible for appointment/confirmation to respective post as follows:

Management Trainee Officer > Senior Officer

Trainee Junior Officer > Junior Officer

Trainee Junior Officer (Cash) > Junior Officer (Cash)

EDUCATIONAL BACKGROUND REQUIRED FOR ENTRY LEVELS:

OfficerMasters preferably in Business

Administration, Economics, Finance,

Banking, Marketing, Management,

Accounting, Statistics, Computer Science,

Physics and other related subject

BBA from reputed institutions.Two first division / class or

Equivalent no third division /

Class. CGPA 2.75 for BBAs.

 Trainee Junior OfficerMasters in any disciplineOne first division or

Equivalent without any third

division / class / BBATrainee Junior

Officer (Cash)Masters in any discipline—-

OTHER REQUIREMENTS:

a)      MBAs from IBA, NSU, Jahangir Nagar University, Khulna University, IUB and MBMs from Bangladesh Institute of Bank Management will be eligible.

b)     Candidates must be of exceptional promise and aptitude to face the challenge and hard work needed for a successful career in the Bank.

c)       Candidates having no past Banking experience must not be over 30 (thirty) years as on the date of application.

d)     All new employees should have minimum computer knowledge.

Operational system           : DOS & Windows

Word Processing               : MS Word

Spread Sheet                     : Lotus or Excel

e)   Junior Officer: (Computer/Type)

      Junior Officer to be recruited for type / computer operation should additionally possess

      Key Board speed of 40 words per minute for MS Word / Typing Job.

 GRADING/MARKING:

The recruitment committee will follow a marking system as follows:

a)      Education                          16 Marks

b)      Interview Performance     34 Marks

c)      Written Test                      50 Marks

________________

       Total                                100 Marks

Basis to be followed for calculation of points in respect of educational qualification are given below:

Examination                First Division              2^nd Division                 3^rd Division

S.S.C                           3                                  1                                  0

H.S.C                          3                                  1                                  0

Hons/Graduation        3                                  1                                  0

Masters                        3                                  1                                  0

MBA/MBMs/Higher   4

Professional Degree

JOB SPECIFICATION OF SENIOR EXECUTIVE/ EXPERIENCED OFFICERS:

scheduled Bank & minimum length of service

28 years4 years as GM or equivalent position in any

scheduled Bank & minimum length of service

25 years2E.V.P.7 years as DGM/3 years as GM or equivalent

position in any scheduled Bank & minimum

length of service 22 years5 years as DGM/2 years as GM or equivalent

position in any scheduled Bank & minimum

length of service 20 years3SV.P.5 years as DGM/1 years as GM or equivalent

position in any scheduled Bank & minimum

length of service 20 years3 years as DGM/1 years as GM or equivalent

position in any scheduled Bank & minimum

length of service 18 years4V.P.2 years as DGM/5 years as AGM or equivalent

position in any scheduled Bank & minimum

length of service 18 years1 year as DGM/3 years as AGM or equivalent

position in any scheduled Bank & minimum

length of service 16 years5F.V.P.3 years as AGM or equivalent position in any

scheduled Bank & minimum length of service

16 years2 years as AGM or equivalent position in any

scheduled Bank & minimum length of service

14 years6A.V.P.2 years as AGM/4 years as SPO or equivalent

position in any scheduled Bank & minimum

length of service 14 years1 year as AGM/3 years as SPO or equivalent

position in any scheduled Bank & minimum

length of service 12 years7F.A.V.P.3 years as SPO or equivalent position in any

scheduled Bank & minimum length of service

12 years2 years as SPO or equivalent position in any

scheduled Bank & minimum length of service

10 years8S.E.O.3 years as PO or equivalent position in any

scheduled Bank & minimum length of service

10 years2 years as PO or equivalent position in any

scheduled Bank & minimum length of service

8 years9E.O.3 years as SO or equivalent position in any

scheduled Bank & minimum length of service

8 years2 years as SO or equivalent position in any

scheduled Bank & minimum length of service

6 years10F.E.O.4 years as Officer or equivalent position in any

scheduled Bank & minimum length of service

6 years3 years as Officer or equivalent position in any

scheduled Bank & minimum length of service

4 years11Senior officer3 years as Junior Officer or in other similar

position in any scheduled Bank2 years as Junior Officer or in other similar

position in any scheduled Bank12Junior officer2 years service as Assistant Officer or in other

similar  position in any scheduled Bank1 year service as Assistant Officer or in other

similar  position in any scheduled Bank

REPLACEMENT CHART:

Replacement Chart of a company describes company’s organizational structure in terms of individuals occupying various managerial and professional positions. It provides a description of how vacancies can be filled from the internal labor market.

In PBL, replacement chart is strictly maintained. If it is needed to replace any employee then according to PBL’s replacement rules the employee of the next position is replaced in that position. For an example, if any Senior Officer goes into retirement then Junior Officer will look after the responsibilities of that Senior Officer.

Another thing is that, if any employee want to go to leave then he/she must handover all his/her responsibilities to his/ her colleagues. If he/she not able to manage anyone then he/she can not able to go to leave.

PERFORMANCE APPRAISAL: 

Generally Performance Appraisal is a process to determine correspondence between employee behavior / task outcomes and employer expectations.

By performance appraisal PBL identifies the following things.

1. Determine who is to be promoted, demoted, transferred or terminated.
2. Determine the training needs.
3. Identify the development opportunities.
4. Motivate & improve performance by showing the areas of strength & weaknesses.
5. Used as a reward for those whose Performance Appraisal result is positive.
6. Help the employees to give proper attention to the areas which will give them more benefit.
7. Reinforce positive behavior.
8. Encourage individuals to work as a team.

COMPENSATION ACCORDING TO PERFORMANCE APPRAISAL:

Based on Performance Appraisal the compensation / increment of the employees are selected. PBL gives increment, promotion and other facilities to the employees whose are in better position according to Performance Appraisal. Again they give demotion to the employees who are below standard according to Performance Appraisal. If employees have lack of knowledge or something, then a training program is arranged.

Sometimes better performance employees are awarded by Promotion. Promotion is given after 2 years. The Promotion of the higher executives is maintained by the Promotion Committee Board but the promotion of the lower executives is maintained by the Branch Management Committee. Generally promotion of the employees depends on the result of the Performance Appraisal and high recommendation.

COMPENSATION SYSTEM 

 DIRECT COMPENSATION:

• Disability income continuation
• Deferred Income:

From Salary                       : 10%

From Bank                        : 10%

Total Savings for future    : 20%

• Health, Accident, Liability protection
• Pay for time, not worked.
  • 15 days                 : Compulsory/Refreshment leave
  • 10 days                 : Casual leave.
  • 15 days                 : Corentile leave.
  • 15 days                 : Sick leave
  • 1 month                : Earn leave after 1 year
  • Gratuity Income  : Work in the Bank

 INDIRECT COMPENSATION:

1.      Promote constructive social relationship with co-workers:

Employees’ get together   : Picnic

2.      Enhance dignity & satisfaction from work perform:

PBL encourage employee for their good performance.

3.      Allocate sufficient resources to perform work assignment:

PBL provide sufficient resource, available modern technology, internet support, online support to the employees to do their work effectively & fast.

4.      Offer supportive leadership & Management:

PBL give employee more authority which makes employee responsible. It also increases the employees’ commitment to their work.

5.       Ensure employees physiological health, intellectual growth and emotional maturity. They provide a safe working environment. They also gave employees training for their development.

6.      In PBL employees have sufficient control over the job to meet personal demands. The Bank gives more freedom and autonomy to its employees.

Turnover Rate:

The performance of every bank is depending on the turnover rate. As a very promising and one of the top list banks, PBL has less turnover rate.

 Employee Dissatisfaction:

Human Resource Department says the department is always open for all employees. If anyone has any problem in their workplace, HRD is always there to help them. HR always willing to listen the objections and try to solve the employees’ problem. But from employees’ perspective, HRD is not playing such role to solve the employees’ problems. The department is not working effectively as the department mostly fails to survive their service fluently. Therefore, it seems to the employees that HRD of PBL is less effective then HRD of other banks.

• Some employees think that top management should change because they are not cooperative and also biased.
• Employee selection process is eye wash maximum employees are recruited depend on personal linkage.
• Some employees said that there is more nepotism. Around 80% of employees are from Barisal.
• If an employee wants to leave, he should replace someone for doing his responsibilities. Sometime it is very difficult for them. They think this type of replacement is duty of top management. But top management ignores those responsibilities.
• Office start at 8:30 but other banks start at 9 am.

• If an employee perform well & work hard, then he will not get promotion. But if a bad performer has a relation with top management then he get promotion earlier even twice a year.

RECOMMENDATION:

Few suggestions from management perspective can be given:

• Authority has to assure at least 1(one) day visit of chief / Head of Human Resource every month in every branch to know the employees conditions and their problems.
• Human Resource Division has to ensure not only to help the employees but also to hear their problems.
• As the employees have to work from 8:30 AM to 6 PM employees do not feel interest of doing work at the perfect time. So HRD should reschedule the working hours from 9 AM to 5 PM to make the work flow effective.
• HRD should maintain the promotion policy effectively. They have to minimize the promotional gaps. If they cannot minimize that the grievance will increase and employee motivation will decrease / dissatisfaction will increase.

Conclusion:

Every organization must have a goal to achieve. To achieve that goal organization must fixed its vision and mission. According to vision and mission, organization able to fulfill its target. So, every organization must have a Human Resource Department. Without proper management of HR, an organization can not achieve its goal. Premier Bank also has a strong Human Resource Department. The Human Resource Department of PBL works very effectively.Banking Sector no more depends only on a traditional method of banking. In this competitive world this sector has stretched its wings wide enough to cover any kind of financial services any where in the world. So, not only from the local banks but from foreign banks too the bank today faces a tough competition. The major task for banks, to survive in this competitive environment is by managing its Assets and Liabilities in a profound way. And also to acquire new advanced technology to cut down its operating expense giving a way to more profit. Only Human Resource Department can able to do this by focusing on staffing, administration, compensation & benefits as well as by training & development.

PBL in overall could do better in future if they give more thought in developing their Human Resource Division because only a modernized Human Resource Division only can give better result to an organization by developing its human resources and by making them effective and more productive. Human Resource Division become an effective department in an organization by introducing new technology, like computerizing their work process, which would save time and indeed reduce expense and give a way to provide more services to clients that will increase their non- interest income. This is a sign of large banks. They should also modify their training process, performance appraisal process etc for motivating their employees to become more productive and prepared them as an efficient employee.Comparing to the standards set PBL has already issued more compensation program as well as employee benefit programs. PBL should focus on the employee facilities and Human Resource Policies of their competitors and step by step develop their Human Resource Policy which will help to develop their manpower skilled as well as productive. PBL should give emphasis not only in giving the better compensation packages to their employees but also create a better working environment for the employees.