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If you want to gain real corporate experience after you finish your CA intermediate exams, then industrial training is the way to go. You will benefit greatly from industry exposure. It serves as a convenient entry point into corporations in the future.
The goal of Industrial Training is to expose students to real-world work experiences while also providing them with knowledge gained through observation and job execution. Students will gain skills in work ethics, communication, management, and other areas as a result of their industrial training.
Firms like the Big 4, Credit Suisse, HSBC, etc., along with DBS are some of the best places where you can pursue your industrial training experience.
It facilitates the process for Indian CA aspirants to get industrial training from these great giants of finance.
Today, in this article you will learn about all the important information you need to know to get industrial training at one of the multinational investment banks.
Let us read about this Singaporean Bank, DBS
DBS Bank Limited, or DBS, is a Singaporean multinational banking and financial services corporation based in the Marina Bay Financial Centre in Singapore's Marina Bay district.
The bank was previously known as The Development Bank of Singapore Limited, from which the abbreviated name "DBS" is derived. Its current abbreviated name was adopted on July 21, 2003, to reflect its role as a global bank. It is one of Singapore's "Big Three" banks, alongside OCBC Bank and United Overseas Bank (UOB).
DBS is headquartered in Mumbai and has many bank branches in 22 cities across India, including Bangalore, Chennai, Cuddalore, Hyderabad, Kolhapur, Kolkata, Coimbatore, Moradabad, Indore, Mumbai (Andheri, Nariman Point), Nashik, New Delhi, Noida, Gurugram, Pune, Salem, Surat, and Vadodara.
DBS India had a 37.5 percent stake in DBS Cholamandalam Finance, a non-bank financial institution, but in April 2009, it transferred its shares to the parent company Tube Investments of India Limited, effectively ending the Cholamandalam DBS shared holder agreement.
It was merged with LVB bank following a 30-day moratorium, when the Reserve Bank of India instructed Lakshmi Vilas Bank (LVB) to be merged with DBS India on November 17, 2020.
Now, DBS has 378 branches in 66 cities, including 349 LVB (now DBS) branches and 29 DBS branches.
Now let us move on to the process of DBS Bank CA industrial training.
Steps to Follow to Secure Industrial Training from DBS
How to Apply for it?
The application process is rather simple. All you need to do is fill up the online application, take part in an online assessment, and crack the interview.
That's it. Of course, depending on your job role, there might be some additional roles and responsibilities.
Let us read about the online test and interview separately, as you may prepare yourself for anything.
Online Test
After you have applied for the internship, there would be an online test that will have multiple choice questions and some case studies as well. You have to perform as well as you can, because the competition for this test is very high. The performance of this test leads to the interview round.
Interview
There are 2 to 3 rounds of the interview here depending on various considerations and performance. The question asked here is related to overall personality and professional attributes.
Here are some questions which might help you get a taste of what the real interview is going to be like.
Que. Why work here instead of at an international bank?
Ans- Expect to be asked this question almost as soon as you sit down. Concentrate on DBS, OCBC, or UOB's specific positive pull factors. “ Demonstrate that you understand how local banks differentiate themselves in your job function when moving from an international bank to a Singaporean bank.
Que. Tell me about a time you had to lead, drive and deliver a project?
Ans- Local firms often expect one person to work across a project and execute it end-to-end. Interviewers will ask situational questions like this because they're looking for versatility, a willingness to be hands-on, and a can-do attitude
Que. Our corporate culture places a premium on team dynamics. How well do you integrate into groups?
Ans- While you might be asked a teamwork question at a global firm, Singaporean banks are particularly interested in them, owing to their low staff turnover. Start your response with an example of how you contributed to a team goal in a recent job. If you've done your research on the bank's approach to teamwork, mention it and why you'd be a good fit.
Instead of all these, there may be some technical questions as well. Some examples are given below:
Que. What inspired you to pursue a career as a CA?
Que. Explain the auditing process in any company where you worked.
Que. What made you decide to pursue DBS Bank CA industrial training rather than continue your articleship?
Well, these are specific questions and you need to answer these as best as you can. Feel free to be as genuine as possible.
Eligibility criteria
Experience
- CA - qualified by the Inter / IPCC examination
- Preferably having experience in project finance, accounts finalization, financial modeling, and other areas during articleship training with a reputable CA firm.
Knowledge
- Accounting and finance expertise
- Business and operational processes, as well as banking regulations
- Microsoft Office proficiency (Excel, Word & PPT)
Skillset
- Financial statements, ratios, and concepts are well-understood.
- Legal, compliance, and market risk issues are all current.
- Strong interpersonal and communication skills.
- Professional ethics and integrity are extremely important.
What is the experience like at DBS?
Though to be a part of DBS Bank CA industrial training as an intern is a hard nut to crack but those who are passionate about their subjects can crack this nut smoothly.
In the end, you have to understand that pursuing industrial training from any bank is a process of many ups and downs but it is all about making you ready for handling the real-life pressure of the industry which is the real purpose of industrial training.
The things which are going to be the part of your curriculum are as follows :
- Spread financial statements and produce financial ratios using computer programs to assist analysts in evaluating the financial status of clients.
- Examine a business's financial transactions, credit history, and other hygiene factors.
- Assist the analyst in ongoing asset quality monitoring and hygiene activities for the portfolio clients.
- In a high-pressure work environment, complete all projects on time while managing multiple stakeholders.
So, to cut a long story short, DBS bank CA Industrial training has become a vital part of the CA articleship. Apart from the Big Four, there are many investment banks and financial institutions which are known for their intensive and great industrial training programs.
Hope this information proves useful to you.
Thanks for Reading!
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