Rhythm Malhotra (SIBM-B) - BFSI

Posted in Internship Experience Stories, Total Reads: 2413

Name: Rhythm Malhotra

College: Symbiosis Institute of Business Management, Bengaluru

MBA Batch: 2015-2017

Summer Internship Industry: BFSI

Location: Pune

Profile: Intern under BMR (BASEL MEASUREMENT AND REPORTING) department, Group Finance

Brief Project Description & Responsibilities:

The IHC (INTERMEDIATE AND HOLDING COMPANY) team in Pune was working on the building of the infrastructure for the IHC to go live in July, 2016.

I was allotted certain balance sheet products for carrying out the monthly preparation of the manual templates and uploading the same on to the system for IHC.

I was also associated with the team in terms of carrying out internal control framework for regulation purposes in form of detailed documentation for the team members.

What was the overview of the project? Elaborate with some details

The project was about assisting the IHC team of the company working in Pune. IHC has come into existence because of the Fed rule that all the Foreign Banking Organizations with assets of $50 billion or more operating in US with subsidiaries should consolidate their subsidiaries into one Holding company namely the Intermediate Holding Company and then report to the Fed their minimum capital requirements under the BASEL III norms.

The team in Pune as well as in New York were working on the infrastructure for the IHC that was to go live on 1st July, 2016. There were some manual corrections to be made to the trade data that flowed into the system which was required for the calculation of the Risk-Weighted Assets (RWA).

Under the BASEL III norms, particulars assets are allocated certain risk-weight depending upon the exposure of the counterparty, for the purpose of the RWA calculation which further helps in maintaining the minimum capital required for the event of crisis.

These RWA numbers are to be reported on a regular basis to the concerned regulatory body. Also it was mandatory to form procedural documents for the various processes to be carried out.

The project was to understand BASEL III, its regulations and about IHC and its implementation.

Share your daily routine & overall summer internship experience.

My work started at around 12 and I used to go back by 9. The daily routine comprised of working on the manual templates for the various products allotted and carrying out the documentation of the same as well as for other team members.

My mentor who was the Vice-President of the IHC-BASEL III Reporting used to take mentorship sessions for me before I started working on the products allotted and then used to review the work done by me.

There was a two hour conference call with the New York team everyday wherein the changes in numbers were discussed.

There were regular connect sessions with the people in the top management conducted by the company for all the interns wherein they shared their industry experiences and provided us with valuable insights.

There were no restriction as to when to work. It was based on the deadlines and the outcomes yielded.

The HR department was continuously involved. They carried out Objective setting, mid-review and final review that was to be done along with our managers.

Finally, the group finance department conducted an internal presentation program. It was kind of a roadshow. Any director could walk in and we had to present our projects.

I was awarded as the best intern in the particular drive.

The overall summer internship was an amazing experience for me. I got to meet so many new people, make new friends and the most important, got to learn about so many new concepts that are helping me now in my MBA.

Also, last but not the least, Pune treated me so well. It’s an amazing place to live.

How was the selection process conducted?

The company gave their job descriptions two days prior the process.

On the day of the process, pre-placement talk was carried out after which the Group Discussions according to the profiles started.

The candidates were shortlisted for the technical interview rounds according to the profiles they had applied for.

The final stage was the HR interview round as another screening stage.

The same day the results were announced and the all recruiters from the company met the interns and told them what was expected from them.

What were your key learnings from the summer internship?

• Technical

o BASEL III norms and RWA calculation


• Personal

o Patience

o Time- management to the best level

o Taking initiatives

Three tips would you give to your juniors

• Be pro-active and explore

• Be flexible

• Manage your time well if you want to learn

• Only for our reference, please share your details below. This would not be shared with anyone

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