The Retail Banking Business Sector of Barclays Plc - Coursework Example

BARCLAYS AFFILIATION: Barclays Plc Task Find a relevant job you could apply for, and research the background of this organisation and the business sector in which they operate. The organization that has been chosen for this assignment is as the financial executive in the retail banking business sector of Barclays UK. John Freame and Thomas Gould were goldsmith financiers in the era of 1690. James Barclay is the son in law of John Freame had collaborated with John Freame in the year 1736. The name Barclays was incorporated in the year 1776 (Barclays.com- Our History, 2011). Barclays Plc has headquarters is at One Churchill Place, Canary Wharf: London, United Kingdom. Barclays is one of the international finance and banking service organization and is conducting its operations at a worldwide level. It is focusing on developing branches in rural areas as well (Barclays.com- About Us, 2011). The main products offered by the company include commercial banking, retail banking, private equity, investment management, and investment banking. They have also introduced the latest service of trading iShares (Barclays.com- Products and Services, 2011). Barclays is managed by Marcus Agius, the team director who joined the company’s board in 2006 replacing Mathew Barrett as chairperson in 2007 (Barclays.com- About Us, 2011). The Barclays Vision is dedicated to being the international premier financial and banking services. They focus on obtaining superior financial and functional outcomes while keeping the international business standard. These unchanging anticipations offer the basis for our dedication to those with whom we associate. Barclays’ mission statement is to be creative, client-based Group, which delivers excellent products and services, make sure superb careers for our people, and participate actively to the society in which we work and live (Barclays.com- Executing our Strategy, 2011). Barclays bank has more than 2000 UK high street branches along with the Woolwich branches. Internationally, Barclays has more than 5200 branches with most 24/7 cash machine that can be used by Barclays clients as well as other customers at a fee. There are around 150,000 employees working at Barclays throughout the world. Barclays has an international market share as well as the local market share. This is an international corporation and, therefore, it operates worldwide. The financial data for the year 2010 is that the company boosted of 31.440 billion pounds, while their operating income was 6.065 billion pounds (Barclays.com – Annual report, 2011). The top competitors of Barclay bank include American Express Company, Capital One Financial Corporation, and Alliances Data Systems Corporation. The strength of the bank is that Barclays bank is an international organization that operates across the world; hence, has a diversified market and highly skilled personnel from the diverse society. The company has also stabilized its assets across all its branches. The company’s culture is to ensure they promote employee career, as this will also profit the company in management. In 2009, Reuters reported that British authorities would use 40 billion pounds into three banks comprising Barclays that can look for 7 billion pounds. The press has also reported that additional capital can be needed that the government may assist to boost their operations. Barclays is the main sponsor of premier league and from 2005, they have also been sponsoring Churchill Cup, as well as the professional golf tournament across the world (Barclays.com – News, 2011). In 2010, Barclays Bank received various awards for their outstanding performance like the best commercial mortgage provider, business in the community awards, best global bank house, best bank overall for credit among other awards. Task 2: Develop a competence matrix, with at least 8 competences listed. Competence (skill) Situation/Action/Reflection Evidence Communication I developed and pitched a fresh awareness for Webster Financial Corp to a team of more than 80 peers and administrative staff. I obtained inquiries that showed the audience participation and conceptualization of my work and were encouraged to focus on its impact. Obtained 80% in my awareness creation and financial control module Effectiveness I carried out a financial risk analysis with solution overhead in relation to company’s status. The approaches used were based on modern techniques and the company was able to avoid paying extra taxes on some of the activities that were not significant The company’s revenue increased tremendously at 5% for three subsequent years. Organizational commitment I managed to motivate all personnel to commit their time to company’s goals and objective. Through use of financial incentives and training on most of the members dedicated themselves to company roles and aims. Company performance increase extremely as every dedicated all their time to organizational objective. New ideas were introduced as members were empowered to work on their own. Technical expertise Through training and application of modern approaches, job technical and skills were well utilized and I managed to save a lot of company time that was usually wasted on non-functional techniques. Other related companies visited the organization to acquire the new strategies and apply in their jobs. Efficiency and growth on all company operations was experienced. The organization was also able to increase productivity and more than 60% of operation that were outsourced was address internally. Computer literacy Most of the activities in the company were carried out manually, but with introduction of computers and members training on various packages activities were streamlined and managed easily by administrators. Most software was also introduced that aided the management functions. Personnel coordinated and work for the company anywhere not necessarily at the company premises. Most people who had no computer skills enrolled in the in-house training to sharpened their skills. Teamwork and cooperation I was able to create a productive environment for all workers to work and interact openly. I achieved many encouragements as the organization duties were fostered by the team and appropriate management. There were reduced conflicts among members especially pertaining to work roles and mutual motivations generate a nice workplace where everyone was comfortable and work at their own rate. Achieved 90% work participations and accomplishment of tasks with more members joining the company with renewed energy of working since there was constant support from everyone. Self-control I managed to lower stress resistance by staying calm and carrying out all my duties within the set time. I received applause from members on how I conducted myself towards my colleagues. This shows that there were much organizational changes and stimulations of members to emulate even my actions. Achieved 80% on my work performance as well as brand control scheme Initiative Nothing is fascinating as much as seeing company succeed due to individual initiatives. I was able to set up new accounting systems that enable the company to monitor all their financial activities and reduce wastes on some miscellaneous expenses that usually miss to be counted for in the final financial report. Achieved 99% accuracy on data management and general work operations Task 3: Skills Based CV NAME Personal Details Contact Address: Contact Number: Email Address: Profile I want to join a reputable financial institution where I can enhance my skills and knowledge in finance and also add value to the organization by the services that I offer the organization. Key Skills Communication: I have command on both written and verbal communication. I am good at presenting financial analysis to the audience. Technical Expertise: I am good at calculation. Finance and accounting have been by major areas of expertise. Can make financial plans according to the situation given. Self Control: I have control over my decision and conduct careful evaluation before taking decisions. I do not panic in unexpected circumstances. Effectiveness: I can complete tasks effectively and efficiently. Work load during end of the year can also be handled by me in an effective and systematic manner. Education 2008-2011 University Name MBA – Finance Elective Course: International Financial Management, Practical Corporate Finance, Financial Markets, Portfolio Management 2006-2008 Name of College/ Location A- Levels – Business Studies- Grade A Economics- Grade A Accounting – Grade A Physics –Grade B 2002.2005 Name of College/ Location O- Levels – Business Studies- Grade A Economics- Grade A English – Grade B Maths –Grade B Add Maths – Grade B Physics – Grade B Accounting – Grade A Employment Summer 2010 Worked as an internee in Standard Chartered Bank as a finance executive. Assisted the financial department in all the finance and accounts related activities. Developed Income statements for the present quarter of the bank. Summer 2007 Worked on a part time basis in the Tesco super market on the cash counter. Record keeping of the detergent section of the supermarket, noting down the sales of detergent per day. Skills Graphic Designing Moderate skills on Oracle, Flash Languages English, French and Spanish MS Office Good command in MS Excel, MS Access, and MS PowerPoint Additional Information Team member of Sports Society at College Secretary of Debate Society in University Interests Internet Browsing Browsing the internet to gain information and gather more research studies related to financial updates and instruments. Sports Hockey is the most enjoyable sport. Tennis and Swimming are other interesting sports for me. Dining Out I love to dine out on weekends with friends and family. References Shall be provided upon request. Task 4: Covering Letter 13 Landmark Gardens Egham London N22 6LR 20th November 2011 Mr. ABC HR Department 1 Churchill Place, London, E14 5HP Dear Mr. ABC Re: Retail banking: Finance Executive This is, Name, and I am interested in applying for the job of finance executive in your reputable bank. The job vacancy of your bank has been viewed on the online UK job portal. I have good command while dealing with numbers and have good skills in analysing financial data. I want to join a reputable financial institution where I can add value to the company by my job services. In my internship time duration, I have understood a lot about Retail banking finance issues that have to be dealt with in the bank. I have recommendations from my internship employers about my performance in the finance department. Some forecasting of financial data had been conducted by me and proved to be a successful forecast for the bank. Barclays bank is one of the successful banks in the region and I want to enhance my financial and accounting skills through a reputable financial institution. I can give an interview at any time as I am looking for job prospects recently. Hoping to receive a positive response by your bank. Yours Sincerely Name Enc. Task 5: Interview Questions 1. Tell me about Barclays. The mission and vision statement of Barclays should be known. The income statements results of the recent quarter should be known along with the sales figure. The achievements and new projects taken up by Barclays will add a good impression on the interviewer. 2. Why do you want to work at Barclays? This question needs to be answered in a positive and enthusiastic way. Barclay has a good market name in the bank industry and anyone would like to be a part of such a reputable bank. Barclay has a good track record of sales and revenue and has received high ratings from awarding bodies. 3. Tell me about your Internship experience at Standard Chartered Bank. The internship experience needs to be described in detail as the position being applied for is the finance position therefore all tasks that have been conducted during internship needs to be defined explicitly. The way finance department is being held needs to be explained in detail. The internship has been done in the same industry therefore interviewer may be keen to know more about the experience. 4. Tell me about one of your strengths. As this is finance related job, the answer needs to be that I am good in dealing with numbers, mental calculations are very good and this is one of the most important requirements for a finance related job. 5. Are you a team player? All jobs in today’s era require the candidates to be team players and be able to work well in teams. Projects in banks and other organizations usually are done in teams and therefore the answer should be a yes to this question. Team work experiences at college and university can be discussed. 6. How confident are you in using MS Excel? MS Excel is required for the depiction of graphs and analyse the trends that the bank is taking every quarter. The proficiency level of using MS Excel needs to be highlighted so that it leaves a good impact on the interviewer. References Barclays.com- About Us, 2011. Available at: http://group.barclays.com/About-us. Accessed on 20th November 2011. Barclays.com – Annual report, 2011. Available at: http://group.barclays.com/Investor-Relations/Financial-results-and-publications/Annual-Reports. Accessed on 20th November 2011. Barclays.com- Executing our Strategy, 2011. Available at: http://group.barclays.com/What-we-do/Products-and-services. Accessed on 20th November 2011. Barclays.com – News, 2011. Available at: http://group.barclays.com/News. Accessed on 20th November 2011. Barclays.com - Our History, 2011. Available at: http://group.barclays.com/About-us/Our-history Accessed on 20th November 2011. Barclays.com- Products and Services, 2011. Available at: http://group.barclays.com/What-we-do/Products-and-services. Accessed on 20th November 2011. Read More