Akshat Sanghvi is a recently qualified Chartered Accountant and had pursued a BCom degree from DAVV. He has been born and brought up in Indore and is currently working in Mumbai as a Deputy Manager at ICICI Bank. He has faced many obstacles and failures in life but that didn’t stand in the way of his dreams.
What is the title and responsibility of your job? What are your daily tasks?
I am a Deputy Manager in ICICI Bank in the field of risk management and internal audit. My work is to assess and analyze the risk that ICICI Bank is facing globally. I am given assignments on a periodical basis, so I carry out assessments of risk and audits and develop strategies and processes for managing those business risks to ensure successful business continuity. We have to gather data and carry out investigations to recognize the risks that the bank may be exposed to. We analyze the key risk indicators (KRI) and conduct what-if analysis to determine the concerns if the risk identified in the process is about to occur.
We are also involved in implementing control systems and action plans for safeguarding the assets and resources of the bank.
What was your selection procedure? How did you get this job?
I got this job through ICAI (Institute of Chartered Accountants of India). I faced a lot of difficulties as I cleared CA on the second attempt which increased the competition for me. The interview included three rounds. The first round included basic questions related to HR, the second round was based on technical questions where they asked questions based on our prior experience and some situation-based questions and the third round was done by the AGM of my department. In the third round, we had to answer a few questions related to our department on the basis of which the selection was done.
It is mandatory for CA students to undergo a three-year articleship training course and based on that experience I had some idea about internships and was able to answer many questions. It is absolutely okay not to know all the answers in an interview but being confident and answering honestly is the key.
What are some of the skills required for this job?
The most important skill is always being up for a challenge and willing to work long hours. Having good communication skills is essential in interacting with customers, colleagues and various teams across the world. Teamwork is also very important as it encourages personal growth, increases job satisfaction and reduces stress.
People are more likely to take calculated risks that lead to innovation if they have the support of a team behind them. It also leads to higher productivity and diversity in ideas and solutions.
What were some of the challenges that you faced and how did you overcome them?
There is a lot of cut-throat competition in the corporate world and since I joined as a fresher I was not well-equipped with the skills and knowledge required for my role. The major challenge that I faced was studying and reading a lot on a daily basis to gain more knowledge. However, I overcame that as I knew it was just the start of my professional journey and that I would be more confident and experienced over the years. I made up my mind to get through this part and eventually I did.
What are some of the internships that you’ve done?
I started with SK Patodia, a CA firm in Mumbai. My work was audit and taxation. In the second year of my articleship training, there was a corporate training conducted in which internal job posting was given to interns as well. My seniors believed that I would do a spectacular role in that particular field of finance so I got an offer. From an audit role to a corporate finance and equity research role was a major turning point for me.
In the second or third year, I got an equity research role from Choice International Ltd. I carried out the entire valuation of the company and recommended stocks for the company to the people and the portfolio management team as well.
Would you encourage students to take up internships and why?
I would definitely recommend students to take up internships. Apart from knowledge and experience, it gives various important skills like communication, interpersonal, teamwork and time management skills. Connecting with people also helps in building a network, and helps in personality development. It gives us a chance to explore different career paths, and find the one which interests us the most.
Just having a good degree is no longer enough to secure that all-important graduate offer in today's world. Getting work experience is an essential aspect of starting your career as a young graduate.