Internship Report Bank free essay sample

United business institutes DEDICATION First I would like to thank and - to have accepted me doing this internship. I am very grateful to my advisors - and for their continuous help, support and time during the entire course of my internship. I am also very grateful to all the staff members at RAWBANK, especially and for their guidance and encouragements. EXECUTIVE SUMMARY This report summarizes my unique experience as an intern in the best Congolese bank during the month of January. This internship report covers every single detail of my internship: firstly I will give you the description of the application process I went through and then a detailed description of the company, the job, and the departments I worked in, alongside with my learning outcomes. I will then provide you with a conclusion of my experience at Rawbank. During my internship at RAWBANK I had the chance to overlook very interesting services such as electronic banking service, the correspondent banking service, treasury department, the retail credit service, marketing and communication services, back and front office operations, the quality service, the secretariat, but also the cashier VIP and Moneygram. I was able to perform a good performance and to bring enough efforts to overcome the difficulties I was having. DESCRIPTION OF THE APPLICATION PROCESS AND SEARCH FOR THE INTERNSHIP PLACEMENT. During my last year at school, I had a hard time finding and securing an internship because I didn’t realize the importance of networking and connections in this globalized world. I wanted to go through the exactly the same process everybody else goes through without external help. It was something new to me because I never worked before or even looked for a job. I was really under pressure because for a while I did not get any answers from the organizations I had applied to. As the deadline was getting closer I had one answer from a company that I wasn’t interested in. I took the opportunity. This year I organized myself earlier than I did for my senior year of high school. Finding an internship can be a very challenging task. I proceeded to search internships through application process available online on companies’ website. I set the bar very high, as I applied to major banks such as citibank and ING. Unfortunately none of thos institutions gave me positive responses. I finally decided to join my parents in Congo and perform my internship in a Congolese bank. As my father is a banker I could not allow myself to get an internship in another bank. Knowing that the school did not want relation between students and companies so I asked the company a letter confirming that there would be no connection between my father and me. I contacted the bank manager, I sent my resume and was accepted for my month internship in January at: Chapter 1: Description of the company RAWBANK HISTORICAL RAWBANK S. A. R. L was established in May under Congolese law with the uthorisation of the Central Bank of Congo and is authorized to carry out commercial banking activities by presidential decree No. 040/2001 of august 2001. RAWBANK is one of the activities of the family group Rawji which started its activities in DRC in 1922. The group controls a group of companies operationg mainly in the DRC, involved in distribution, industry, logistics, proprety, ports and financial services. Previously, in 1989, some of the family members had decided to create a bank, but t he problems that the country had at that time did not permit this and the idea was rejected. Today, strong of a ground expertise acquired since 1922 in the trading and industry in Congo and surrounded since its creation in 2002 by specialists of the banking and finance, Rawbank focus its efforts on the know-how, its knowledge of the congolese economical environment, the quality of welcoming, the operations’ rapidity as well as the search and development of recent banking technology. In order to excel in the spectrum of banking and finance in the Democratic Republic of Congo, RAWBANK uses a strategy that consists of three words: solvency, flexibility and speed. Its with all those efforts that RAWBANK has been considered for the third year as the best bank in Congo. RAWBANK LOCATIONS The head office is located in Kinshasa on the Boulevard of June 30 (main road) at number 3487. RAWBANK is constantly expanding its branch network in the city of Kinshasa, but also throughout the country. At present there are seven branches in Kinshasa, six in Lubumbashi and eleven in other location of the country. * Boma * Matadi * Kisangani * Muanda * Bunia * Goma * Bukavu * Kolwezi * Likasi * Fungurume * Kasumbalesa RAWBANK ORGANISATION Rawbank operations are managed by a banking software called DELTA. This software allows synchronization, security and centralization of all operations of the bank. It is supported by Excel software that allows staff to compile tables of operations and treat them automatically. This is to avoid possible errors and provide details to the management of operations and funds entrusted by clients The internal communication is ensured through the Outlook mail service which allows agents to exchange messages with instructions, but also a site intranet. The inter-agency operations are performed in real-time thanks to the VSAT system that allows each agency to pass the entries of transfers and account the Scriptures of all agencies at headquarters. RAWBANK benefit from the trust of an effective network of correspondent banks throughout the world : USA * Citibank NA, New York * Habib American Bank, New York EUROPE * ING Belgium, Brussels * KBC Bank * BNP Paribas Fortis * Citibank NA, London * Commerzbank, Frankfurt, Germany * Byblos Bank AFRICA Standard bank of south africa, Johannesburg * Absa bank, Johannesburg MIDDLE EAST * Habib Bank AG Zurich, Dubai * Bank of China, Beijing RAWBANK’S MISSION They have built up in depth expertise in commerce and industry in the congo since 1922, supported since the creation of the bank in 2002 by banking and finance specialists. They focus their efforts on those assets which differentiate them and enable them to help their customers achieve success: Business know-how and an understanding of the congolese economy. The level of attention they pay to customers and the speedy service they provide them with research and development in the latest banking technologies. The mission of RAWBANK is to participate to globalization and trade finance of the Democratic Republic of Congo. RAWBANK focuses its business on large importers and exporters soft or hard commodities and is also committed to actively support enterprises in their dealings with foreign countries and to facilitate the financial operations of international organizations, nongovernmental organizations, governmental organizations. RAWBANK’S STRATEGY With the prospect of an upturn in the congolese economy, RAWBANK has become a leading bank in the Democratic Republic of Congo, in terms of solvability, flexibility, speed and also in terms of quality and security. To continuously enhance this level of excellence, RAWBANK provides its customers with a constantly network of branches, teams who have both professional skills that are regularly updated and a high level of knowledge of the latest IT and communications technologies. It applies the financial resources needed to do this, at the same time with its ambitions. By implementing this strategy, RAWBANK intends to be a cohesive entreprise, appreciated as such and strictly managed with both ambition, professionalism and valued by its customers, staff and shareholders alike. OBJECTIVES AND ACTIVITIES The offering, buying, management, custody and sale of securities and any financial asset; To carry out all banking transactions, stock exchange, cash financing, commission and all the precious metals gold transactions; Advice and assistance in financial management and all services to facilitate the creation and business development. The representation securities commission, the agent of any natural or legal persons. Perform any action or transaction to the third party Acquisition, construction or lease of any property to its operation and to achieve its purpose or welfare of its staff; Participation through the creation of new companies, underwriting or purchase of securities or rights, merger, lease management decision or otherwise. STRUCTURE AND ORGANIZATION RAWBANK consists of a booklet of management and business lines although it is a first Board of Directors. The Board of Directors: it is the body within which serve all shareholders. It is headed by a President and is the most important organ of the Bank. Currently, the RAWBANK has five business lines. It is at the head of each business line a member of the steering committee that coordinates the activities assigned. Chapter 2: Job description My internship was supposed to begin on January second, but in Congo when a day-off is on a Sunday it is reported to the following Monday. So I began my work on Tuesday the third. The first day was a lot of pressure, I was a bit stressed about my attire but it turned out my business casual outfit was just fine. The first day I arrived at the bank, I waited in the quiet a while secretariat, someone called the Human Resources Manager, Mr. KABANGU Elly and he asked me to come in his office. Once there, he guided me to another person, Mr. KHOTI who gave me a planning of my internship and ask me what did I want to do. The goal was to be able to spend at least 2 days in each service that we had chosen. Mr. KHOTI then explained me the rules of the company, gave me a badge, some documents about confidentiality that I had to read carefully and sign. When the conversation ended, Mr. KHOTI showed me around and made me feel comfortable. I had a small desk in almost each department I have worked in. My schedule had two possibilities: * 8h00 – 12h30 13h30 – 17h00 * 8h00 – 13h30 14h30 – 17h00 OCCUPATION DURING THE MONTH Week 1 VIP CASH COUNTER The first service I interned in was the VIP box with Mrs. Mamie Lukusa. The VIP cash counter is a private and closed room for customers with transactions over 10,000 USD or for clients considered as VIPs. I made payments, withdrawals as well as buying and selling foreign currencies (Euro, Pound, South African Rand). The cash transactions are done with deltabank program, but it still has an excel spreadsheet that shows us the denomination at any time and the amount available in the trunk. There are two different kinds of checks : †¢ checkdesk †¢ check client * Bar endorsed checks (the last person who acquitee can get that amount by credit account) * Bar non-endorsable check (the last person who acquitee can get that amount in cash) * Bar cheque non-endorsable (Only the person named on the check that can get that amount by credit account) * Bar check non-endorsable non (Only the person named on the check that can get that amount in cash) MONEYGRAM Then I moved to the MoneyGram service, I made shipments and withdrawals of money from the outside but also cash withdrawal on credit card customers with a POS terminal. The maximum cash withdrawals is 2500 usd. MONEYGRAM never stops working, you may be surprised by the number transfers of people sending and Receiving money. FRONT OFFICE At the front office I refer clients to services concerning them, I have advised and I have also distributed their debit and credit card. The front office takes care of licenses that allow customers to import merchandise in Congo. The customer must present himself with four copies of invoice in order to request a license to the back office. The guichet unique is based on a simplified system for the payment of taxes of different stakeholders in a single invoice. The payment method is based on SYDONIA software, which is a system allowing payment of invoices of various stakeholders in only one entry. For imports, the bank pays all bulletins which bring together the various payments in a single transaction. The front office is also responsible for the payment of employees of the Congolese state. THE TREASURY MAD (MISE A DISPOSITION) This service allows RAWBANK clients to send money to who does not have any account in the country. The Inter-Agency MAD It is thus a transfer between two Rawbank agencies, the commission is divided into two parts for the USD amount, the agency sender pays all the commission for the amount in Congolese Francs. The receiver presents itself to the agency with a code. The without-agency MAD There is no Rawbank branch in the locality of the beneficiary, so this one will stand with a RAWBANK partner to get his money. The three main Rawbank partners are : Beltexco * Prodimpex * Soficom (financial messages) Week two RETAIL CREDIT During my time at the credit department I worked mostly in retail credit but RAWBANK offers several kinds of credit : Credit SMEs (small and medium enterprises) Credit Corprorate (large company) Retail (Credit to individuals working within employers who are accredited by RAWBANK) To grant a retail credit, the salary account is considered and the final statement of the applicant. The general conditions of eligibility A current RAWBANK account 25 60 years old 150 usd minimum initial deposit Three months salary domiciliation One month of service in the certified corporate The differents products Credit Express Credit senior (61-64 years) Credit study (fresh family the child must open an account academia) Credit comfort (exceeding the current account of 30 percent) MasterCard credit Credit Easyshop (the bank pays a product store partner instead of the client) The comfort credit and the MasterCard are fixed-term advances. We receive the request for credit -gt; Item Check -gt; Analysis and depreciation -gt; second verification ELECTRONIC BANKING SERVICE The electronic banking service takes care of everything related to the â€Å"plastic money†. I created Debit card VISA and I ordered Mastercards. RAWBANK offers withdrawals with VISA and Mastercard via point of sales (Terminal). They take a commission of four percent (minimum 5USD) of the transaction. When RAWBANK receives the SLIP (Transaction journals) from agencies, they establish a SUMMARY and send it to the CCS (credit Card Service); when the CCS respond positively RAWBANK passes the scripture in DELTABANK in order to credit the supens account of the bank. The SLIP (Transaction journal) : * The TID (the terminal ID) * The four last number of the card * The authorization number * The transaction date * The brut amount OR the gross (including commission) RAWBANK also has a SMS banking system, which is a system that allows their clients to receive alerts on their mobile phone every time their account records a movement (debits or credits). This system allows them to inquiries their account balance as well as the currency exchange rate. Week three MARKETING AND COMMUNICATION During my time in the marketing and communications department I had the chance to spend time with the Graphic designer, with the person who takes care of the internal communication and with the person the external communication and the marketing budget but, I also had the opportunity to participate to a â€Å"marketing Focus group†. Two years ago RAWBANK created a product called â€Å"Lady’s First† which has the perspective to help Congolese women having their own society by offering them training in accounting and business management. The purpose of this focus group is to understand what these women really want to achieve. RAWBANK contacted around forty women belonging to the program Lady’s First and invited them to this focus group. The subject of this one was on the creation of a credit-savings, Congolese women do not often have the opportunity to obtain credit because they have no property to put in caution. RAWBANK proposed them to save money in a saving account during an indefinite period so they can have the possibility of obtaining a credit. We discussed the rates and the number of months they should save before having access to a credit and then we asked them to fill out a form with the same questions to make a study about this new product. QUALITY DEPARTMENT The quality department is concerned with the stewardship of the claims of the customers but also the presentation of the employees, the holding of the bank and its agencies. The quality service sends â€Å"false† customers to identify inattentions or errors of employees. The service run by a single lady also refers to as â€Å"Ms. Quality. â€Å"Ms. Quality† goes around the 21 banches throughout the country to ensure the cleanliness of the different units, she takes pictures of what could potentially damage the image of RAWBANK then returns to the head office and makes reports. Ms. Quality† is also very careful about the employees attire because they represent the bank. Week four During my fourth week I have been to the VIP cash counter, the correspondent banking and the back office. I also had some time to do my internship report and to find informations. At the correspondent banking department I learned how RAWBANK does some transfers. When a client wants to transfer more than 10 000 dollars he has to ask for a licence. At the back office department I learned to do some licences for importations and exportations. Conclusion In conclusion this internship taught me many things about the working life but also about everyday life. I realized that the punctuality, presentation and respect toward others are very important things. I had the opportunity to deepen my understanding in banking. I also realized that the teamwork and harmony among all employees is a paramount thing. I am very grateful to all people of different services, who took time to answer all my questions. This month at RAWBANK confirms me that after my studies of business at UBI I would like to do a Master in ‘banking and finance’. Essayez avec cette orthographe : En conclusion ce stage ma appris beaucoup de choses pour la vie des tous les jours Saisissez du texte, ladresse dun site Web ou importez un document a traduire. Annuler This experience was very rewarding for me, I had the opportunity to move across the services which interested me. I am very thankful and have been honored to work for RAWBANK, giving me this unique and great opportunity. I hope you enjoyed reading this updated report as much as I did rewriting it. -