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By
Acknowledgements
Thanks to Almighty ALLAH for His blessing that Im able to
perform and prepare job report effectively and efficiently. Im very
thankful of my Instructor who gives me enough knowledge about
the taking of the said program. Im thankful of my Colleague also
from whom I have been able to prepare my job report. I indebted to
all my colleagues, friends specially staff of the branch, without
their help I would not be able to learn and perform well in the
tenure of my job in UBL. Every person in my branch gives me
special attention and guides me every time whenever I asked them.
ii
Table of Contents
1. Introduction
2. Objectives of studying the organization
3. Overview of the organization
3.1.
Brief history
3.2.
Type and Nature of Business of the organization
3.3.
Organization volume/size in different contexts
3.3.1. Number of employees
3.3.2. Gender Distribution (Male and Female)
3.3.3. National Operations
3.3.4. International Operations
3.4. Product lines, product portfolio, business lines,
1
1
2-21
2
3
4
4
4
4
5
6
different levels
3.4.1. Consumer Loans
3.4.2. Card Products
3.4.3. Deposit Product
3.4.3.1. UBL Business Partner
3.4.3.2. UBL Business Partner Plus
3.4.3.3. UBL Mukammal Current Account
3.4.3.4. UBL Basic Banking (Current Account)
3.4.3.5. UBL Rupee Transactional Account
3.4.3.6. Uni-Saver
3.4.3.7. UBL Uniflex
3.4.3.8. UBL First Minor Account
3.4.3.9. UBL Unizar Foreign Currency Saving
7
7
8
8
9
10
10
11
11
11
12
13
Account
3.4.3.10.UBL Unizar Foreign Currency Current
13
Account
3.4.3.11.UBL Profit Certificate of Deposit
3.4.3.12.UBL Unizar Foreign Currency Term Deposit
14
14
Reciept
3.4.4. UBL Net-banking
15
15
15
16
16
16
17
20
21
4. Organizational structure
2225
4.1.
4.2.
4.3.
4.4.
Main offices
Organization Hierarchy
Comments on the organizational structure
Competitive Positioning of the organization in
the industry.
4.5.
Learning Prospect from Management Context
5. Department/s Structure (in which I have worked)
22
23
24
24
24
2633
5.1.
Department
5.2.
Product lines
5.3.
Departmental operations
5.3.1. Account Opening
5.3.2. Clearing Services
5.3.3. Remittance Services
5.3.4. Cash Receipts/Payment Services
5.3.5. Misc Services
5.4.
My Role in the Department
5.5.
Structure of the Department
26
26
26
27
28
30
30
32
33
34
35
35
35
36
36
Department
7. Critical analysis
8. Short-falls/weaknesses of the Department
9. Conclusions & Recommendations for
37
39
40
improvement
10. Bibliography (References & Sources
42
used)
11. Acronym
12. Annexure
13. Appendices
43
44
45
iv
Abstract
This Job report is based on my 04 months experience in United Bank Limited. Fatehjang
Branch, as per my Master in Public Administration (MPA) degrees requirement. This job
has given to me the exposure to practical work experience & implements those concepts
learned at COMSATS Virtual Campus. During my job, I was able to learn practical aspect
of business, & get good working experience. This report basically relates to the working
and functioning of UBL and throws some light on its brief history & activities performed
and learned during my internship.
In the first chapter I have given the introduction of banking sector very briefly.
Then in the 2nd chapter, I shortly discuss the objective of studying this organization
i.e., United Bank Limited.
In the 3rd chapter, a detailed overview of the organization i.e., United Bank Limited
has been discussed, which not only tells the history but also dictates what type of
business the organization is engaged in, how it is working on national & international
level, what types of products & services United Bank Limited is offering. Then, of
course, its internal/external treats and opportunities i.e., SWOT analysis is made
along with PEST analysis. In the last of this chapter, the business plans of UBL and
its commitment is elucidated.
Fourth chapter is relating to organization structure in which UBL main office details,
it working environment, hierarchy is discussed. Moreover, its image in banking
industry is also stated in this chapter. The learning prospective from management
context is also being shared in this chapter.
While the fifth chapter is what all, I learned from working with UBL as CSR. Under
the heading of this chapter, I tried all my level best to put in plain words, the detail of
each and every department that how their operations are carried out to provide quality
service to its customers.
In the sixth chapter, the overall functions of department, the authority to make
decision, the utilization of resources and what types of product/services are offered by
each department is clarified.
v
In the seventh chapter, I tried to make a contract about what I learned and how its
applies in practical working life.
Eighth chapter put some light on branch weak areas which needs improvement.
While the ninth chapter is all about how the thing can be made better than before.
This last chapter contains conclusion of report resides in terms of the findings &
recommendations carried out during my Job tenure & it also highlights the
performance of the branch. The bank believes that customer is the real asset. The
environment of job is quite friendly, but pays are not sufficient according to the work
pressure which needs to be analyzed. The departments, which constitute the basis of
the working and functioning of the bank and factors, which need to be contemplated
for further betterment of the institute, are the part of this report. At the end of this
report, the bibliography and appendix are given in order to provide a clearer picture
of what I have learned and done in United Bank Limited.
vi
1.
Introduction
Banks always play a central and very important role for the economic life of a any
country, thats why banks are considered as the lifeblood of modern economy. Today, no
one can deny the importance of banking sector in the economy. They facilitate and
expedite commerce & trade and provide a variety of services that one cant imagine
without banks. I have chosen the United Bank Limited Fatehjang Branch for my job
report because it has all the departments a bank could have.
2.
My objective is to develop the management skills. I have learnt many things and some
basic concept how each department of branch network is engaged in, to deliver quality
services to its customers. Some of the objectives are mentioned below:
The main objective of studying this organization i.e., UBL, is to prepare the MPA
Job report to be submitted to the Incharge Internship VCOMSATS.
Karachi
Lahore
Lyallpur
Dacca
In 1963, UBL turned into the first bank of Pakistan who had a branch overseason William Street in London, United Kingdom. The first saving plan for school going
children was launched in early 1960s. UBL has also had the credit of establishing
Pakistans first Staff College of employees in 1964, through the enthusiasm & motivation
of its staff and the faith of its customers, which continued to grow at a spectacular pace.
The tribute of introducing computer banking to Pakistan (1967) is also belongs to UBL
and in 1971, UBL yet again paved the way by introducing three (03) online branches in
Karachi. United Bank Limited also launched supervised credit & small loan programs for
small to medium size firms as well as agriculture & had made for itself, a strong
international presence for we had branches in four (04) continents.
Throughout UBLs history, it has kept the tradition of innovation alive. In 1970,
UBL launched Pakistans first credit card, the UNICARD while in 1971, it introduced
the Pak Rupees traveler cheques. Staying true to its roots, UBL is the 1 st bank to have
Islamic banking division & also the first bank who introduced e-banking facilities at Hajj.
2
In the 1990s, the Govt. of Pakistan decided to revolutionize the banking by creating a
blueprint to privatize United Bank Limited. At that time, financial experts were called on
board to set the bank back on course, & with implementation of relevant changes, the
government privatized the UBL in 2002 (Best way & Al-Ayaan worked in partnership,
forming the basis of UBL of tomorrow.
Today, UBL opens its eyes to a new vision everyday, a vision of resurgent
quality/services and renewed commitment to its customers. 57 years into our glorious
history UBL is now part of one of the worlds largest financial services groups. It is the
2nd largest bank in Pakistan.
3.2. Type and Nature of Business of the Organization:The nature of the banking industry is to connect those who are in need of funds
(borrowers) with those who are having an excess of funds (savers) while paying a return
to the saver less than the interest charged to the borrower. Same is being done by UBL.
They raise deposits through current/saving accounts & via fix deposits too and then they
mobilizes these funds to borrower via credit cards, agricultural loans, Car loans etc and
hence they make the profit by the difference of what they charge from borrowers and
what they give to lenders. Beside this, UBL is also engaged in providing following
services as well for expanding its business: Agency Services
General Utility Services
Hajj Services
Providing specialized services to customers and
Underwriting of loans raised by the Government or public bodies and trading by
corporation etc.
3.3. Organization volume / size in different contexts:UBL has assets of over Rs.1 trillion & have a solid track record of over fifty seven years.
In addition to above, the bank is operating 1300+ branches all over Pakistan including
01 branch in Karachi export processing zone, 22 Islamic banking branches & 18 branches
outside the Pakistan. The banks ordinary shares are listed on all three stock exchanges in
Pakistan and its global Depositary Receipts (GDRs) are on the list of the UK Listing
Authority and the London Stock Exchange Professional Securities Market. These GDRs
are also eligible for trading on the international Order Book System of the London Stock
Exchange.
Other necessary details as per university approved content outline are provided below:3.3.1. Number of employees:
Approximately 15,000 employees are working with UBL & they are doing their
best for the provision of quality services to UBLs customers.
3.3.2. Gender Distribution (Male and Female):
UBL provides equal employment opportunity without any race, religion, caste,
gender etc.
3.3.3. National Operations:
The agriculture sector in Pakistan contribute to over 20% of Nationals GDP and
UBL is very well recognizes its significance to the countrys economy. Thats why
the bank offers a huge & diverse mix of agricultural based finance products.
Either it is production related financing i.e., major and minor crops across the
country or it is pertaining to developmental requirements i.e., land; purchase of
equipment/machinery or livestock financing, United Bank Limited has an
agricultural product tailor-made to any requirements. With simple eligibility
criteria & easy guarantee/security requirements, the banks agricultural financing
products are available across Pakistan.
3.4.
A product line is defined as 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
same types of outlets, or fall within the given price ranges.
The followings are the main consumer banking products of UBL:3.4.1. Consumer Loans
3.4.2. Card Products
3.4.3. Deposit Products
3.4.3.1. UBL Business Partner
3.4.3.2. UBL Business Partner Plus
3.4.3.3. UBL Mukammal Current Account
3.4.3.4. UBL Basic Banking (Current Account)
3.4.3.5. UBL Rupee Transactional Account
3.4.3.6. Uni-Saver
3.4.3.7. UBL Unifelx
3.4.3.8. UBL First Minor Account
3.4.3.9. UBL Unizar Foreign Currency Saving Account
3.4.3.10. UBL Unizar Foreign Currency Current Account
3.4.3.11. UBL Profit Certificate of Deposit
3.4.3.12. UBL Unizar Foreign Currency Deposit Reciept
3.4.4. UBL Net-banking
3.4.5. Omni-Branchless Banking
3.4.6. UBL Ameen
3.4.7. UBL Go Green Products
3.4.8. Remittances
3.4.9. Other Retail Products
A brief discussion of above mentioned products are given on next page.
3.4.1.
Consumer Loans
o Minimum age 21 years and Maximum age 60 years (at the end of loan)
o Salaried individuals whose salaries are being credited in UBL
UBL Address Home Loan Facility to those account holders whose monthly income is
minimum Rs. 50000/- for a period of 3-5 years. Minimum Loan size is Rs. 500000/-.
This loan is awarded for purchase of house, its building & construction purpose. The
property offered for mortgage must be located in Karachi, Lahore, Islamabad,
The agriculture sector in Pakistan contribute to over 20% of Nationals GDP and UBL
is very well recognizes its significance to the countrys economy. Thats why the bank
offers a huge & diverse mix of agricultural based finance products. Either it is
production related financing i.e., major and minor crops across the country or it is
pertaining
to
developmental
requirements
i.e.,
land;
purchase
of
3.4.2.
Card Products
UBL Wiz is the 1st Prepaid VISA Debit Card which is available to all CNIC holders and
is globally accepted on VISA International. There is no need to open an account for the
issuance of UBL Wiz. This card is valid only upto 03 years after that, customer has to
apply for new WIZ card and request to transfer the balance of previous WIZ Card (if any)
to new WIZ card (timeline for this transfer is 02days). However, if the card expires and
the customer does not want to get issued a new WIZ card, then s/he can contact at UBL
helpline 021-111-825-888 for such a case. In these circumstances, the UBL will issue a
Cashier Cheque within 07days to its customer, which is payable at any branch of UBL
7
The target market for the above mentioned is specially the students, the teenagers and the
travelers.
Whereas, UBL Mega Wallet card are issued to account holders only with the facility of
09 supplementary cards. There is annual fee for this card and customers are able to
withdraw upto Rs.200000/- per day from ATM and they can also make transfer entries on
ATM machine for within or outside UBL.
UBL Credit Card is offered to all account holders by limiting a specific credit limit
depending upon the balance of the accountholder. The customer can avail credit at his/her
own convenience and will have to repay it with 45days (without interest), but once 45
days have been elapsed, the customer will have to pay interest from the very first day of
availing credit according to the prescribed rate of bank Schedule of Charges.
3.4.3.
Deposit Products
UBL deposit product portfolio offers a verity of accounts ranging from individual
requirements to business need, from small or large scale entities. Some of which are
briefly mentioned below:-
3.4.3.1.
Speedy clearing & collection of any non-UBL cheques in any UBL online
branch
**Note: Minimum balance charges of Rs. 50/- will be charged monthly if monthly
average balance falls below Rs.10, 000/-
3.4.3.2.
This unique account is being maintained while keeping in view the business needs
of customers and on maintaining a monthly average balance of Rs. 25,000 or
more, UBL offers many services absolutely free :
Unlimited no. of cash withdrawal & deposit transactions via any UBL branch
*Initial Deposit required: Rs.500/**Note: Minimum balance charges of Rs. 50/- will be charged monthly if monthly
average balance falls below Rs.25,000/-.
3.4.3.3.
This current account is designed for all commercial entities, traders, businessmen
and individuals (low level income) with following features:
Free Net-Banking
*Initial Deposit required: Rs.500/**Note: unlike any other current account there is no monthly average balance
condition for this account, which makes it all the more unique and attractive to
customers.
3.4.3.4.
3.4.3.5.
3.4.3.6.
Unisaver
3.4.3.7.
UBL UniFlex
Only one UBL UniFlex account per Computerized National Identity Card
(CNIC) will be permitted to be opened in UBL, regardless of the branch; no
doubling shall be permissible even as joint a/c or a sole proprietor.
The Bank shall decide, from time to time, the rate of interest/return/profit
payable on the account/deposit in accordance with the existing profit and loss
sharing rules & regulations of the State Bank of Pakistan as well as the
policies of the UBL, which are subject to change from time to time. The
account
holder/depositor
must
agree
to
accept
such
rate
of
Wallet VISA card is optional; annual charges will be deducted as per Schedule
of Bank Charges (SOC).
collection,
Online
banking,
Tez
Raftaar,
Tez
Ibex,
3.4.3.8.
UBL First is a savings account opened on behalf of a child in the name of the
father or mother or a court-appointed guardian and the minor.
Other feature of this accounts are as below:
UBL First Minor Account can be opened for any child ageing b/w 01 day and
18 years
12
The cheque book (for the principal account) and the Pocket-Money Card will
be issued jointly in the name of the minor and the father/mother/ guardian
The facility of online use of Debit Cards will be available once registration
procedures have been duly completed
The UBL First Pocket-Money Card can be used to access the monthly profit in
cash from any ATM machine or be used for shopping at retail outlets
3.4.3.9.
Zakat is exempted.
No cash handling charges (US Dollar, Euro, Great British Pound Sterling,
UAE Dirham & SAR).
3.4.3.10.
No cash handling charges (US Dollar, Euro, Great British Pound Sterling,
UAE Dirham & SAR).
Zakat is exempted.
14
3.4.3.11.
By investing in UBL CODs, one can earn profit which is credited to his/her
account on monthly basis or at the time maturity (on the willingness of customer
that when s/he wants to get profit)
3.4.3.12.
UBL UniZar
Foreign
Currency
Term
Deposit
Receipts (TDR)
Opt from different range of currencies i.e. US Dollars, Great British Pounds,
and Euros etc.
UBL offers the widest reach across the country with an increasing number of
more than 400 foreign currency dealing branches
There are no cash handling (Cash Deposit & Cash Withdrawals) charges from
the customers
Term deposits in foreign currency are offered for the following periods of
maturity with variable rates of return: (1) Three Months (2) Six Months (3)
Twelve Months
Zakat is exempted
15
3.4.4.
UBL Net-banking
This facility offers customers a convenient, easy and secure way to manage their bank
accounts 24/7 from anywhere in the world. UBL net-banking is one of the most trusted
Internet Banking portals primarily because of its uniquely strong security features and an
attractive list of transactions and activities available. Customer can view account
statement, make bills payment, can donate, transfer funds, recharge their mobile cards,
and can purchase IPOs and much more. This facility is also available in the shape of
mobile app too.
3.4.5.
Omni-Branchless Banking
This network is spread over in approximately 650 cities of Pakistan at normal Dukaan
level which facilitates the customers in transferring funds at any time at their
convenience. Customers all over the Pakistan, can now, open a basic UBL Omni bank a/c
at any UBL Omni shop of their choice, whether close to their place of work or home, by
using their CNIC & mobile phone numbers. Their mobile number will be turned out to be
their bank account number irrespective of which service provider they use. Moreover,
they can avail ATM card facility. Accounts with higher limits can be opened from any
UBL branch. UBL Omni account holder will, then, be able to deposit & withdraw cash,
make utility bill payments, make postpaid mobile bill payment, pay Zakat & Donation,
send / receive money, purchase mobile airtime and much more by using diversified array
of convenient channels which comprises of SMS, Mobile App, UBL Net-banking or
ATM. No longer will the customers have to visit a bank branch for conducting their basic
banking transactions nor will they be restricted by standard banking hours.
3.4.6.
UBL Ameen
Under this cap, UBL is offering the entire product in the light of Shariah Compliance
committee who ensure the absence of interest factor in all products.
16
3.4.7.
This is a SMS facility available to all accountholder, in which they receive alert on their
mobile screen, whenever, there is a debit or credit transaction is made to their accounts.
This facility is available to all accountholders as per banks Schedule of charges.
3.4.8.
REMITTANCES
UBL issues Cashier Cheque to its accountholders as well as its walk-in customers
which is payable at any branch of UBL.
3.4.9.
Beside this, UBL is also offering insurance services on different packages for different
purposes to all of its customers. It is working with Banca. It provide Children education
plan, marriage plan, retire plan etc.
17
3.5.
SWOT Analysis
WEAKNESSES
UBL is facing shortage of staff which creates problem in doing routine banking
tasks
There is low level of motivation in the employees of the bank
The majority of people are not well aware about the UBLs Products due to its
short engagement in promotional activities.
UBL Management has adopted reactive approach for the reason that they respond
to the market very slow & are reluctant to take initiative prior to the problem
arises.
18
Mostly in peak working hours (day time) or at the start of the month, online
system gets busy/stuck which causes delays and customer grievances.
OPPORTUNITIES
Mobile banking is a concept that has begun to find its roots in the banking
industry. Therefore, it is a big opportunity for UBL to get benefit from this chance
at big level.
Opportunities exist for the expansion of UBLs chains in the International Arena,
MAJOR COMPETITOR
Being a financial institution, the United Bank Limited is facing the competition of many
commercial banks and DFIs. However, the major competitors in relation to product
offering & distribution channels are sharing business of UBL. Some strong competitors
banks to UBL are :a) Muslim Commercial Bank
b) Bank Al-Falah
c) Bank of Punjab
d) Allied Bank Limited
e) National Bank of Pakistan
20
3.6.
PEST Analysis
The PEST analysis stands for Political, Economical, Social & Technological perspectives
which are briefly discussed as below: Political:
The political arena has a huge influence upon the regulation of businesses, and the
spending power of consumers & other businesses. With regret to say that our
instable and in-efficient political system has failed to attract the people to make
investments in Pakistan.
Economic:
Marketers need to consider the state of a trading economy in the short and longterms. This is especially true when planning for international marketing. UBL is
good in it and makes innovations from time to time to introduce new products and
service. For example, recently it has launched Makamal Current Account for lower
income people.
Social:
The social and cultural also influences on business differing from country to
country. It is very important that such factors are considered. For example
introduction of 1st Minor Account, Parda-nasheen accounts etc.
Technological:
Technology is vital for competitive advantage, and is a major driver of
globalization. UBL is using latest Oracle based system for internal working called
Symbols, whereas it is also providing netbanking too for its customers to manage
their account from their home 24/7 hours.
21
3.7.
22
4.
Organizational Structure:-
23
24
25
The financial courses like Accounting, HRM and specially the OB helped to
understand the Banking operations. Basic knowledge of accounting gives
effective way to deal with the accounts of the Bank.
As in Marketing we were taught about the importance of the customers, I
observed the value of the customer that how employees deal with the customers.
The branch staff was very polite & soft spoken in helping the customers for their
problems as well as its solution on priority basis.
The staff was working as team & everyone used to be involved in every activity.
Therefore, my teambuilding skills have been developed and improved while
working in UBL.
While working in the practical environment, my confidence built because now,
I can do whatever task is given to me & capable of adjusting myself according to
any situation/environment.
The thing that I learnt while working in UBL is the communication skill which is
indeed a great competitive advantage.
26
5.2.
01 Manager
01 Customer Services Operation Manager
01 Customer Services Representative
01 Chief Teller (CT)
02 Universal Tellers (UT)
Product lines
UBL Fatehjang branch is dealing all product except credit and advances facility
for which they have to refers such cases to area office for further necessary
actions. The dealing products are as below:
Account Opening
Clearing Services
Remittance Services
Cash Receipts / Payment Services
Misc Services
5.3.
Departmental operations
At branch level, the Branch Manager is responsible for all operational as well as
the sale activities. The CSOM is responsible to report to Branch Manager about
daily progress at the end of the each day. All departments like Account opening,
clearing, remittance and cash department have to report to CSOM. Now I will
briefly discuss, here, the operational activity of each department as follows:
27
28
In the next step, the CSR will put clearing stamp on the backside of the cheque
and also affix payee account will be credited stamp on back side with his/her
signature. Then CSR will put this cheque in the NIFT provided bag & seal it out.
The NIFT representative visit the branch in second half and collect those bags for
clearing those cheques in the next working day. On next working day, upon
clearing, NIFT will credit the deposited cheque amount to UBLs Head Office and
will provide cleared cheque details too. From where, the Head office account is
debited and customer account is credit. In case, if the MCB or any other banks
cheques is returned due to any reason purpose, then NIFT will not provide Funds
and will return the cheque on day after tomorrow. In that case, the CSR will not
only hand over the cheque to its account-holder but will also recover cheque
return charges from his/her account, only if the cheque is not returned due to
banks mistake.
In the same way, whenever UBLs account holder deposit cheque of UBL in
MCB, same procedure will be adopted by MCB and in that case, we, the UBL
will be treated as presenting branch. The NIFT will present UBL cheque to CSR,
who after proper scrutiny of cheque will clear this by debiting its customers
account & crediting the head-office account. The head-office will then transfer
those funds to NIFT who will disburse the funds to MCB. But in case, UBL
returns the cheque due to any reason, no funds will be transfer to anywhere, and
the same instrument will be returned back to NIFT agent after putting a return
memorandum, mentioning the cheque return reason. Moreover, CSR will also
deduct cheque return charges from its customer and will record it on cheque
return register too. Hence, customers query regarding his/her cheque for Clearing
can be entertained through this register.
The cheque returned memorandum contains following reason:
the customer will fill in Cash pay-in-slip . The teller will receive cash and write
on pay-in-slip the denomination wise case details. After making sure that the cash
received and the amount of deposit slip match, teller will credit the account
mentioned on pay-in-slip. Once again, same branch transactions are free, while
online cash deposit to other branches of UBL will be charged as per SOC.
Vouchers for deposits and withdrawals are not made, as the cheque itself is a debit
voucher and pay-in-slip filled by customer works as credit voucher.
At day-end, cash in hand physically is balanced with cash in IT system. Once, it is
balanced, and then the teller will update denomination wise cash position on
system as well as on closing register accompanying a summary sheet showing the
summarized affect on current, savings and general ledger accounts for the whole
day transactions. In addition to simple cash deposit/withdrawal service, teller will
also facilitate the collection of utility bills, sale/purchase of bonds, payment of
wheat procurement etc.
Moreover, ATM replenishment is also the core responsibility of Cash Department.
Daily after the customer hours of the bank, ATM cassettes are
re-filled with cash, and last 24 hours transactions record is taken on ATM Scroll.
The ATM scroll contains information regarding all the transactions taken by the
customers from the ATM. These transactions can be by the account holders of that
branch or any other branch of UBL. Moreover, there are certain affiliated banks
like Summit Bank, NBP, Askari Bank etc, whose customers can withdraw money
from UBLs ATM and vice versa. UBL deducts some commission from such
transactions that is subject to change from time-to-time.
UBL also provide Hajj application processing services under the Ministry of
Religious Affairs
32
When an account is not operated for over a period of one years, it become
inactive/dormant, so in order to active such accounts, customer will fill in
dormant-activation from along with his/her recent CNIC and hand it over to
CSR, who after verification of signature and Nadra Verieys will activate the
account for future operations.
Request for issuance of new chequebooks are also initiated from CSR.
CSR also have to make sure to respond H.O emails regarding top 100
Customers and their financial transaction details with respect to
Anti-money-laundering
33
5.4.
I was liable to check and verify all the formalities of Account Opening
i.e., Verifying photocopy of CNIC with original one, demand for provision source
of funds, demand of snaps for illiterate customers or from those having shaking
signatures and once the account number has been generated, I was also
responsible to not only upload Signature Specimen Card for future transactions
with the customer but have also send the AOFs to head office after retaining a
shadow copy of AOFs with the Branch.
In addition to this, I was also the concerned person dealing with Cheque Book &
ATM Cards. Once these items were received at the branch, my job was to intimate
the customer on phone and then to deliver these items to customers after having
their acknowledgement. Furthermore, those chequebooks which are lying with the
branch as un-delivered over a period of 30 days, was to sent back to head office.
In the same way, those ATM Cards , which were not still lying with branch over a
period of 60 days, have to be destroyed at the branch level and then these card
were marked as Hot (permanent de-active) by the Customer service sent to avoid
Annual ATM renewal charges from customers.
I was also liable to update customers record such as mobile number, email
address, mailing address, updating signatures etc as per their instructions in
writing and after verification of signature on the written documents.
I was also held responsible to reply different H.O & SBP emails and to provide
Customer information i.e., source of funds, nature of business, heavy transaction
activity is matching or not with source of fund etc.
Inter-branch funds transfer was also one of my key jobs in which I had to made
transfer entries after receiving a signed remittance form of customer.
The clearing department was also under my command, in which I had to deal with
inward/outward cheques for collection and had to maintain a register for both
inward and outward cheque returns. At the day end, I was also to make sure that the
34
fund for the cleared instruments has been transferred to the respective
accounts/GLs.
5.5.
35
Branch staff are engaged in providing quality services to its customer as per
product line from 9 to 5pm (Monday to Friday). Every transaction in the bank is
made systematic to trace it in the future, if needed.
Each financial activity in the bank is recorded on voucher. It is a commonly used
method of creating internal control over the cash & other transactions. The
concerned department, from where the transaction has been originated, approves
the transaction by affixing relevant stamp i.e., it may be transfer stamp, cash
received or cash paid stamp, payee account credited etc., and then put the
signatures on the voucher to authenticate it. The vouchers used in bank are of two
types, i.e., Debit Voucher & Credit Voucher. The voucher contains information
regarding the head of that account which is to be debited or credited, date of
transaction, transaction code, description of the transaction, amount in words and
figures debited or credited to that account and account number of customer (if
applicable). All entries in the bank originates by making a voucher and then these
vouchers are posted to the computerized system, which is then, printed on General
ledger to verify & authentic voucher entries with the computer based system.
Beside this, like all organizations maintaining the accounting system, banks also
have to monthly, quarterly, half-yearly and yearly close their temporary accounts.
Closing in banks does not only include this, but it also includes calculating
product, profit or loss on deposits, and markup on loans. Product is calculated
either on day-end balance basis or month-end balance basis, depending upon the
nature of account.
6.2.
Decision-making environment
6.3.
Mobilization of resources
Resource is anything which has some worth & is required to achieve some desired
objective. For life on earth sunlight is the supreme resource. It gave birth to all
other current form of resources such as Fuel and Food. Human beings (and every
creature) constantly struggle and arrange for or mobilize resources they need. In
bank, the main resource is staff, who works for public. I noticed one thing that
due to branch overload, it was very much tough to know for one department about
what going on in the other department. So there should be job rotation in every
department because it will give the staff a better understanding of overall banking
practices and products as well.
6.4.
The cash department was providing all the facilities pertaining to cash such a
payment of cheques, deposits in accounts, sale/purchase of prize bonds, utility
bills, fees and payment for western union, coc and express money, while the
clearing department is providing the services of all types of clearing i.e., both
inward and outward clearing, Remittances department is providing transfer of
money facility. Account opening department is helping in expanding the branch
operation by introducing new customer to the bank.
37
7.
Critical Analysis
Working in a well-reputed bank i.e. UBL Fatehjang Branch, was a great opportunity in
itself for me. As doing a job is practical training, consequently, it gives me a lot of
knowledge of practical life. It is the best way to get acquainted with the environment
inside any organization, which we have to face in our practical life. The idea of this job
before officially joining any organization is to enhance my interpersonal skills,
confidence, to gain a sense of responsibility and to get accustomed to the overall office
environment of an organization.
The first and the most important thing, when a person works into an organization for job,
are the communications skills. The biggest challenge before doing this job is that how I
can build the relationship with the employees & how I can cope up with the working
environment. This can only be done when having a confidence to interact with people
effectively of different organization. Fortunately it was a good chance to learn &
overcome the shortcomings in the direction/leadership of the colleagues but also by the
diverse nature of interactions.
Whatever I learnt from theoretical, most of the time, I noticed its application in my
practical job experience. For example, in HRM, I was taught about conflict management
while working with people of different backgrounds. In this concern, I applied the
techniques which I learnt from theory by getting closer to my colleagues, by participating
and encouraging trips where we, the colleagues were given a chance to talk to us in unformal way. In this way, I was able to learn more about others values, customs, norms,
moods etc. All this help me in improving my communication with my colleagues. In
marketing , we were taught to be fair to the customers , same is being adopted in UBL
Fatehjang branch by telling its customers about each and every thing of a product such a
monthly charges for not maintaining minimum deposit in case of Business partner current
account or annual fee of UBLs ATM etc. This act on my end not only help me to
increase goodwill of UBL and but it developed a strong relationship with customers.
Beside this, the behavior of UBL towards its customers is very much committed. It
introduces different products from time to time to different targeted class or the country
38
as a whole. For example: UBL advance agricultural loans to farmers, credit cards to
salaried persons and businessmen, UBL Teen Visa card to school going students, UBL 1 st
minor account to children who have not attained the age of majority i.e, 18years and
off-course ATM card facility too.
UBL is the 2nd largest bank of Pakistan and I will strongly recommend my junior batches
too to go for internships or job in UBL as a priority. It is the best platform for learning
like communication skills, how to control anger, how to deal with people from different
backgrounds. In fact, it gives the learners the true meaning of life that how we should live
in our society because the biggest weapon in banking industry is your attitude and
behaviors towards others which not only develop good business relations but also helps
to retain existing customers in good mood too.
39
8.
department
Lack of product knowledge among employees
Some lapses were noticed in customer service delivery due to staff un-cooperative
attitude.
Branch area is too limited to digest even thirty five to 40 customers at a time
40
9.
United Bank Limited is one of the strongest & giant banks in Pakistan. It is the 2nd
largest bank of Pakistan with a huge network of ATM machines. This is the reason that
why it has a large market share & competitive edge over its competitors.
The UBL Staff is found to be efficient and devoted towards their work. Every employee
is the best-match for his or her concerned department and has in-depth knowledge of all
procedures and functioning in that department.
The experience at UBL was very much informative and pleasant. It benefited me in a way
that whatever was studied at campus, this job experience was the implementation of those
concepts. I had the chance to implement my concepts of Financial Accounting, HRM,
Organizational Behavior, and Marketing. Moreover, I observed how a practical life is
different from the theoretical life. Indeed, this job experience will help me for future as
well in my studies and professional life.
Normal Customer services like dormancy , new cheque book orders, stop
payments, hajj services, customer record updating and account opening services
are simultaneously provided by CSR & CSOM only, so there is a need of at least
having knowledge of all the departments so that working of the branch must not
employees.
More staff should be assigned at cash counters for distribution of excellent and
time saving services
42
www.ubldirect.com
http://www.ubldirect.com/Corporate/BankingServices/DepositProducts.aspx
www.wikipedia.com
www.investopedia.com
UBL Annual Report 2015
As I have worked in different branches of UBL, therefore, I consulted different
personnel of diverse branch network for completing my job report. Here, I would
like to mention their names to give some tribute for their great assistance &
guidance. Those worthy personalities are Mr. Haroon Sultan (ex-UBL BDO),
Mr. Ali Naqvi (District Coordinator), Miss. Sadia Akber (Operation Officer),
Mr.
Saqib
Raheem
(Jr.
Executive),
Sardar
Azhar
Iqbal
(CSOM),
Miss. Tahira (CSOM), Miss. Neelum (CT), Mr. Awais Ali (CT),
Mr. Naveed Anjum (UT), Mr. Shahbaz Hussain (CSO) & received great help from
my senior most staff as well.
.
43
11.
Acronym
UBL
CSR
CSOM
BM
CT
COD
PLS
TDR
UT
SOP
AOF
SS Card
SOC
A/C
NIFT
SBP
C.C
:
:
:
;
:
:
:
:
:
:
:
:
:
:
:
:
:
44
12.
Annexure
Nill
13.
Appendices
45