Product Manager at Bajaj Financial Services
Q. For our readers, can you tell us about your job profile and elaborate on the industry you are currently working in?
I am working as a product manager in personal loan cross department of a NBFC (Non- banking financial corporations). The job profile includes designing the process flows, managing the profit and loss of the business and driving the sales. The finance industry majorly has two kinds of players: – 1. Banking institutions and 2. Non-banking financial corporations. RBI has different norms for banking and NBFC’s.
Q. What are the upcoming domains, technologies and skill sets in the industry that are high in demand right now and expect an even further surge in the coming years?
Insurance and personal loan business are the most profitable units in any financial institutions. Technologies and skillsets in demand are artificial intelligence, machine learning, data analytics and blockchain technology. Apart from these, business analytics and strategic planning are the must have skills to have for a manager.
Q. How big is the gap between the average quality of engineers in our country and the required level in the industry? What steps can the government and colleges take to reduce this gap?
The biggest gap is in the curriculum followed by various engineering colleges. They are not following the industry and not changing the education system accordingly. Moreover, placements in many engineering colleges are not according to the engineering stream a student belongs to. This nullifies the skillsets a student has gained in 4 years of education.
Q. How important are soft skills to become successful in any industry? How do you think colleges can prepare students better and improve this aspect (soft skills)?
70% of the time an employee spends on a normal working day is in communicating with the fellow colleagues. Soft skills enable a person to put his/her opinion in the best possible way. The way a employee presents himself always gives a positive impression on his supervisor.
Colleges should have a separate subject totally focussed towards soft skills. Experts from various industries should visit college and share their views on a regular basis.
Q. With the ‘Make in India’ and ‘Digital India’ programmes launched by the government in 2014 and 2015 respectively, what are the noticeable impacts of these programmes in the industry?
‘Make in India’ programmes have certainly benefited the manufacturing and FMCG industry in a big way. This was clearly visible when companies like Patanjali challenged the business model of well-established players like P&G, HUL etc. Digital India programmes have affected the payment industry in a big way. Cashless economy is the next big thing. Companies like Paytm, MobiKwik, Capital Float etc. have created positive impact on economy.
Q. What advice would you like to give to an engineer who is in the first or second year of his/her course?
Focus on building your basics. Always be in touch with the changes happening in the industry. Try gaining extra skillsets which are not covered in the college curriculum.
Q. What are the different ways you think you can collaborate with our department and help our students?
I can create a website where students can blog and contribute on new trends in various industries. I can arrange guest lectures from senior leadership team of my company.