Joining DB was an adventure with a courtship of five years and the most unconventional approach to recruitment! DB surprisingly felt like a vibrant start-up, yet with deep roots and very strong relationships.
Principles of Paradox:
Banks embrace change/ technology, new business models, by consuming massive volumes of information, linking varied dots, to drive quarter-by-quarter financial outcomes of revenue & profitability. They are rooted in structure and process yet nimble & agile to identify opportunities in new market segments & customers. Information fuels action, yet the ‘need to know’ principle( coming from the banking secrecy laws) is completely at odds with the need for transparency. Banks have the fiduciary responsibility to support the economic systems of the nations – they are an essential service. Trust is a bedrock, yet every stakeholder has to be watched. Bankers used to testify to people’s character until they fell from grace due to greed.
Yet, banks have people with integrity, ability to build relationships and work in a disciplined way.
Heading an off-shored entity (DBOI now Deutsche India Private Limited) meant building teams that understand the Critical Economic Process by jurisdiction/business/functions and whether they are systemically relevant in the various countries. This meant business continuity to ensure economies are not disrupted. COVID showed us how resilient the financial structures are globally & the regulators, with their national governments, are close but tough allies.
Banks, especially post 2008, have been driven by Risk, Control, Regulations, Governance.
Irrespective of any role, all senior leaders are expected to reduce risk, demonstrate compliance in spirit & form across geographies and build a strong Risk Culture with its foundation in values, beliefs. I was very fortunate to have led several actions such as driving the Risk Culture Program for 2 Divisions of the bank across multiple geographies for many years; providing oversight as directors across legal entities; providing program management oversight for GST & Corporate Social Responsibility roll-out in India significant part & most recently with on-boarding of Google as a strategic partner and looking at non-financial risks and regulatory requirements across APAC to name just a few.
Banks are early adopters of Innovation across all dimensions. I was particularly proud of the team winning several awards from SSON, CII especially for process and customer-related initiatives. The process is fundamental for ensuring effective delivery in a constantly changing environment. Our project of Process mapping over 11000 processes globally, is still cited by Infosys as a success story. Yet my biggest learning was that the success of the change outcome is dependent on organizational readiness and sponsorship.
Strategy & customer focus are key components of all senior leaders. My role as the global head of business engineering for the operation was like an internal consultant driving change initiatives in partnership with McKinsey to create a strategy.
Most large organizations have an active CSR program but I was truly fortunate when in 2014 with the change to the Indian Co Law we built out a strong program for social impact with over ₹50 crores pa for various programs. This investment has been ongoing for the last 6 years. It was an amazing opportunity to balance my passion for social impact initiatives with active risk management, process, and governance as needed by a bank.
Lessons Learnt: Ask for what you want (can you stand up for what you want & believe) and then drive results. Don’t go along expecting your desires to manifest. Do what you enjoy or step off – new doors will open. Are you Value-driven or relationship-driven – both have consequences. Dive in and learn – often, it might be unexpected. Life will throw up grey areas, and it is important to arrive at the Black & White states for action. You will always have people who will believe in your potential.
The 11 years truly enriched me with wonderful colleagues, amazing work opportunities, and personal growth.
