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BRIEF HISTORY OF BANK ALFALAH LIMITED

 

Bank Alfalah Limited was incorporated in June 21st, 1997 as a public limited company under the Companies Ordinance 1984. Its banking operations commenced from November 1st ,1997. The bank is engaged in commercial banking and related services as defined in the Banking companies ordinance 1962. The Bank is currently operating through 45 branches in 21 cities, with the registered office at B.A.Building, I.I. Chundrigar, Karachi.




Since, its inception as the new identity of H.C.E.B after the privatization in 1997, the management of the bank has implemented strategies and policies to carve a distinct position for the bank in the market place. Strengthened with the banking of the Abu Dhabi Group and driven by the strategic goals set out by its board of management, the Bank has invested in revolutionary technology to have an extensive range of products and services. This facilitates their commitment to a culture of innovation and seeks out synergies with clients and service providers to ensure uninterrupted services to its customers.

The bank perceived the requirements of customers and matches them with quality products and service solutions. During the past five years, bank has emerged as one of the foremost financial institution in the region endeavoring to meet the needs of tomorrow as well as today. To continually upgrade the quality of service to the customers, training of team members in all the integral aspects of banking, customer service and IT was specially focused.

The portfolio concentrates on all aspects of conventional banking as well as the financial needs of corporate sector. Dynamic and high value product includes Car Financing, Home Financing, Rupee Travellers Cheques, Credits Cards, Debit Cards, On line Banking, ATM and consumer Durables. In addition to this, Islamic Banking Division is a recent initiative, which operates as separate branch. It offers Shariah

Compliant products through a network of five branches, which will increase to 50 by the year 2007. The bank is committed to combine all it s energies and resources to bring high value, security and satisfaction to its customers, employees and shareholder. The Bank has invested in revolutionary technology to have an extensive range of products and services. This facilitates commitment to a culture of innovation and seeks out synergies with client and service providers to ensure uninterrupted services to it customers.

 

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V I S I O N

“To be the premier organizations operating locally and internationally that provided the complete range of financial services to all segments under one roof”

 

 

MISSION

“To develop and deliver the most innovative products, manage customers experience, deliver quality service that contributes to brand strength, establishes a competitive advantage and enhances profitability, thus providing value to the stakeholders of the bank

MANAGEMENT 

Chief  Executive Officer

Executive Incharge 
Strategic Planning & Global Marketing

Executive Incharge 
International &Treasury Division

Executive Incharge 
Human Resources Division

Executive Incharge 
IT Division

Executive Incharge 
Credit Division

Executive Incharge 
System & Operation Division.

Executive Incharge 
Establishment & Administratration

Executive Incharge 
Credit Monitoring Division

Executive Incharge 
Business Development Division 
S.A.M./ Car Finance/ Leasing

Executive Incharge 
Legal Affairs Division.

Executive Incharge 
Audit & Inspection Division

Executive Incharge 
Finance Division

Executive Incharge 
Corporate Banking, 
SME Financing & Home Loans

Executive Incharge 
Islamic Banking Division

Executive Incharge 
New Products & 
Service Quality Division

Executive Incharge 
Cards Division

 

ORGANIZATIONAL STRUCTURE

ORGANIZATIONAL STRUCTURE

clip_image002[4]

DEPARTMENTS

Bank Alfalah Limited has the following departments:

v Account Opening Department

v Human Resource Department

v Trade Finance

v Credits

v Accounts Department

v Administration / Personnel

v Special Asset Management (SAM)

v MIS Department

v Marketing

v Cash & Deposits

v Foreign Currency Accounts

HUMAN RESOURCE MANAGEMENT

The policies and practices involved in carrying out the “People” or Human Resource aspects of a management position, including recruiting, screening, training, rewarding, and appraising

The concepts and techniques need to carry out the “people” or personal aspects of management job are:-

  • Conducting job analyses (determining the nature of each employee’s job)
  • Planning labor needs and recruiting job candidates
  • Selecting job candidates
  • Orienting and training new employees
  • Managing wages and salaries (compensating employees)
  • Providing incentives and benefits
  • Appraising performance
  • Communicating (interviewing, counseling, disciplining)
  • Training and developing managers
  • Building employee commitment

HR’s Definition at Bank Alfalah:

We Are Struggling For People.”

HRM DEPARTMENT & BANK ALFALAH

Like other organizations HRM department acts as the mind of the organization. Without the HRM department Bank Alfalah cannot imagine being able to function. At Bank Alfalah, HRM has great significance, everybody depends on this department for the entire organization to work and succeed in its mission.

clip_image004

Human Resource Department-Hierarchy

RESPONSBILITIES OF HR OFFICER: 

 

Following are the responsibilities of HR Officer in Bank Alfalah:-

  • Recruitment And Selection
  • Policy Making
  • Retention Program
  • Improve Working Relation Of Employees

HRM Management Responding To Changing Environment:

 

Bank Alfalah’s HRM Management is responding to changing environment by

  • Follow Customers Needs
  • Adopt Continuous Changes
  • Decentralized Organization

COMPETITIVE ADVANTAGES:

 

Bank Alfalah has following competitive advantages over its competitors:

  • Strong Pay Structure
  • Retention Program
  • All Banking System Based On It
  • Select People From Top Universities
  • Account EI Has 30 Years Work Experience

JOB ANALYSIS

“The procedure for determining the duties and skill requirements of a job and the kind of person who should be hired for it”

Job Analysis includes:

  • Job Description
  • Job Specification

 

 

 

Job Description:

“A list of job’s duties, responsibilities, reporting relationships, working conditions, and supervisory responsibilities”

Job Specification:

“A list of job’s human requirements,” that is, the requisite education, skills, personality, and so on “

METHODS OF COLLECTING JOB ANALYSIS INFORMATION

There are two methods of collecting Job Analysis Information:-

  • Interviews
  • Observation

INTERVIEWS

“A procedure designed to obtain information from a person through oral responses to oral inquiries”

Who Conducts Interview?

“Interviews are taken by the branch HR head responsible for recruitment and selection”

Types Of Interviews Taken:

• Structured interview only

• Structured Sequential Interviews

• Panel Interview

Criteria for Selecting Candidates:

Following is the criteria for selecting candidates in Bank Alfalah based on:

  • Communication Skills
  • Present Personality
  • Educational Background (etc.)
  • Skills And Competency

INTERVIEW QUESTIONS

  • Why Should I Hire You?
  • Why Do You Want To Work For Us?
  • What’s Your Great Strength?
  • What’s Your Great Weakness?
  • How Much Salary Do You Expected From Us?

RECRUITMENT

“The development of a pool of applicants for jobs in the organization”

Sources Of Job Recruitments:

Following are the some sources of Job Recruitment in Bank Alfalah:

  • By Universities
  • By Website
  • By Coaching
  • By Newspapers

Recruitment Process:

Following are the recruitment processes in Bank Alfalah:

1.) Assess need (strategic planning and tactical planning)

2.) Create a pool of candidates:

3.) Screen out candidates:

4.) Make selection

5.) Evaluate recruitment process:

1.) Assess need (strategic planning and tactical planning)

There is no fixed quota of number of employees to be recruited, it depends on need and the strategic (organizational) and tactical (branch level) requirements.

2.) Create a pool of candidates:

The prospect candidates are attracted through advertisement in the newspapers, on the website online and also the walk in.

3.) Screen out candidates:

Through interviews and tests they screen out the less attractive candidates.

 

4.) Make selection:

After further interviews and other processes the final candidate is selected. Questions in an interview are made by doing proper job analysis of the job. That includes identifying the job duties and requirements. 

5.) Evaluate recruitment process:

Evaluate effectiveness of recruitment by comparing the results to expected results.

TYPES OF RECRUITMENT

There are two types of recruitment in Bank Alfalah:

  1. Internal
  2. External

1. Internal:

 

“Includes recruiting of already existing employees for new jobs within the organization”

 

2. External:

“Includes bringing “new blood” in an organization. Recruiting people who are new”

INTERNAL RECRUITMENT IN BANK ALFALAH

Bank Alfalah normally

• Less emphasis on Internal Recruitment

• Existing employees can respond to new job offers as externals

• Performance appraisals

EXTERNAL RECRUITMENT IN BANK ALFALAH

In Bank Alfalah external recruitment is on

• Need basis

• No yearly or monthly recruitments

• Every branch has it’s own HR department

• Head office sanctions recruitment for new employees

• Adds in leading newspapers (Dawn, Jang)

• College Recruitment (under planning)

• Online application forms

• Short listing

• Interviews

• Decisions made through head office

• No help from recruiting agencies

DIRECT INDUCTION OF FRESH CANDIDATES

Through direct induction of fresh candidates, Bank Alfalah is able to employ fresh postgraduate candidates for its organization and the process is as follows:

 

clip_image005 

 

 

 

EXPERIENCED PROFESSIONALS

Based on requirements of experienced staff, Bank Alfalah also recruits talent from the marketplace. Bank Alfalah offers competitive salary / benefits to worthy professionals at all levels who wish to join hands with Bank Alfalah. The procedure for selecting such professionals is as follows:

 

 

 

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