Organizational Hierarchy Chart

Comments on the Organizational Structure

Division of Labor. The structure of the Bank of Punjab is separated into division and these divisions are additionally partitioned into offices. This kind of structure helps the administration in controlling the activities of the bank successfully. Every division is in charge of its separate obligations.

Span of Control. Span of control among various leveled structure is obviously characterized. Every office reports to the focal division and afterward this focal office reports to the head office.

Communication. Communication among the authoritative offices is simple. Level and vertical correspondence among divisions is exceptionally viable.

Internship Activity Plan. Introduction to Branch where I did my Internship: Operations of the branch are controlled by Branch Manager and Operations Manager. Staff of the branch is consist on Branch System Administrator, Operations Staff (including Grade I officer, Grade II officer, Grade III officer and one cash officers). There are 8 employees currently working in Bank of Punjab Starting and ending dates of Internship: I started internship on 28th May, 2017 which ended on 9th July, 2018 Name of Department in which I got Training & the Duration of my Training: The duration of the internship program was six weeks. The staff of the branch was much cooperative. They imparted me training in all departments of the branch i.e. Accounts Opening, Customer Service Department, Remittance Department, and Clearing Department.

Training Program

The Training Program section is based on my observation, experiences and rotation during my internship at the Bank of Punjab Limited. My internship duration was six Weeks. I was rotated in Operations Department where I joined many sub Operation departments like as, Remittance, Account Opening , Accounts departments , Customer Service Department.

Task Done By Me Are As Follows. Account Opening Department:

I worked in account opening department for two weeks. In account opening department I learned about the Account Opening Procedure. The Account Opening Officer told me the process of Account Opening procedure. It was my first experience in Bank of Punjab. I got the complete knowledge and process about account opening. I was introduced to the seven different types of accounts which could be opened at Bank of Punjab. The accounts namely are:

i. PLS Saving Account

ii. Senior Citizen Account

iii. Gharayloo Saving Account

iv. Ziada Munafa Saving Account

v. PLS-Saving Profit plus Account

vi. Corporate Premium Account

vii. Supreme Saving Account (PLS)

viii. Supreme Saving Account (FCY)

ix. Corporate Premium Account

The basic requirements for opening an account are as follow.

The basic requirements for opening an individual account are:

i. CNIC

ii. Source of Income

iii. National Tax Number (optional)

iv. Letter from person's employer

The basic requirements for opening partnership account are:

i. CNIC of the Partners

ii. Partnership Deed

iii. National Tax Number Certificate (optional)

iv. Company's Letterhead

The basic requirements for opening a company's account are:

i. CNIC of Director(s)

ii. Article of Association

iii. Memorandum of Association

iv. National Tax Number Certificate (optional)

v. Company's Letterhead

After that in this department, Madam gave me task of guiding the new customers of Account Opening Department and filling of new account opening forms. For an individual account I filled account opening form and wrote source of income provided by person who want to open an account. A copy of CNIC and his Blood group relation required for next of kin. I also filled joint account opening form as well as company account opening form. This is very complicated regarding documentation.

I performed my duty. I filled a large numbers of Account Opening forms and give guidelines to customers and also told them the types of accounts that Bank offers.

Clearing Department: I was filled up cheque. Make entry into the register. Filled deposit slips for cheque. Posting stamp on cheque as well as main record in register, Cheque return noted on register and clearing stamps attached on outward cheques. Three stamps attached on outward cheque 1-Bank Crossing 2-clearing stamp 3- payee’s account only. Now upcoming days these stamps affixed on the back side of cheque.

Remittances Department: Now I transfer to Remittances department. Remittances department play an important role for rotate fund of customers. In the remittances department I was introduced to the various instruments that were being used to transfer funds from the branch to other banks. Pay order is an instrument which is used to transfer money within the same city.

The customer has to fill a form giving all the necessary information about the place where the money has to be transferred, his name, contact details etc. The payment for the pay order can be done both through cash and by cheque. Demand Draft is an instrument through which money can be sent outside the city. Outward demand draft is used to transfer money outside the city whereas Inward demand draft is presented by customers to collect money from a branch.

This department at Bank is responsible for issuing new cheque books to the account holders. When customer receives the new cheque books the customer has to sign the new cheque book. The stamps are used if the account is opened in the name of a company. I guided a few people who wanted to collect the new cheque book on the original account holder's behalf. I explained that the original account holder has to come and collect the cheque book by himself. I also got a few cheque books stamped by the customers and handed them over their new cheque books. Stamps on cheques and recording of issuance of pay order are also done by me

Cash Department: In that department I have learn lots of things like Utility Bills collection and cash and cheque deposits are also done by cashier and issuance of fresh notes to public. Receipts and Payments to customers cash placement in vault according to State bank Master circular Regarding Cash department. Cash should be divided in for categories 1-soild 2-Re issuable 3-unsorted and last one is fresh. On daily basis cashier balanced his counter and Vault as well as after all that I tick his register or voucher that is done by him in whole day.

Analysis of Management Functions of the Organization

Planning determining organizational goals and the means for achieving them:

• Decision Making Process
• Bank of Punjab following the Group Decision Making Process.

At Head Office Level:

• The President of the Bank is the Chief Executive Officer of the organization. He is the Chairman of Board of Directors. The Board is responsible for policymaking and implementation of decision.
• The Board of Directors also give due wattage to proposals submitted to them by the field functionaries by time to time while making policies for bank’s interest. We can say that there is democratic atmosphere and environment for decision-making process.

At Regional Office Level:

• The Regional Business Chief preside the Regional Management Team (RMT). All decisions are made by RMT collectively. All five department’s Regional Chiefs are the members of this team.

At Branch Level

• The branch manager makes decision in association with branch operations manager and other staff members.

Organizations Current Strategies

• The main objective and goal of a commercial bank is to earn profit. Bank of Punjab current strategy is to give more loans in retail and commercial sector due to high rate of markup.
• BOP has a big advantage of disbursement of salaries to Government employees. This scheme enhanced the profitability of the bank.

Organization:

• Organizational Design. Organizational design is the process of developing an organization structure. Organizational design is the process of developing or changing an organization’s structure. It involves decisions about six key elements: work specialization, departmentalization, and chain of command, span of control, centralization/decentralization, and formalization.
• Organizational Hierarchy Chart (Designation Wise). Decentralization IT is centralized organization.BOP is an organization which decentralized to the extent that decisions made at lower levels are made within a general set of policies, procedures, and rules, with decisions not covered left to the discretion of lower-level managers.
• Formalization. One of the newer concepts in organizational design is the team-based structure, which is an organizational structure made up of work groups or teams that performs the organization’s work. BOP is also has high departmentalization and more formalization.
• Work Specialization. Work specializations the degree to which the work necessary to achieve organizational goals is broken down into various jobs. In Work specialization the tasks in an organization are divided into separate jobs. Another term for this is division of labor. BOP is emphasizing on work specialization and job specification.
• Managing Change and Innovation The change management in organization is a difficult process. It is because strategists normally consider a single variable instead of the holistic view of the organization. In today’s world perhaps the most frequent and common trigger for organizational transformation is technology. This transformation occurs on account of revolutionizing production process, informational and communication technologies or other processes such as demand management, order fulfillment. It is the technological innovation perceptibly lead to increased efficiency in value chain activities, especially in primary and support activities of the value chain. Bank of Punjab is focusing to manage change environment and innovations. Change Management Program: BOP has started an ambitious Change Management Program to further train its employees to meet the challenges of present day requirements. Training of new staff: Training and development are the core issues of HR, which will ultimately improve BOP customer service and help BOP, attain the standard of a progressive bank.
• Managing IT and Communication Today banking is becoming more and more mechanized and it is the I.T. support that can improve the customer service and reduce cost at the same time. At BOP we have elaborated plans for transformation of the entire I.T. architecture of the bank by implementing core-banking solutions. The said technology will not only increase our distribution capabilities by many folds but will also simplify our internal procedures thereby reducing the transactional cost and lead-time for service. BOP has started a number of projects in relation to I.T. Structure up gradation. The bank is expanding its ATM network and connectivity to further expand our reach to the customers. This year we completed our automation of the government’s tax collection services thereby opening new opportunities for such services on behalf of other organizations. BOP is also looking into other I.T. products for salary and pension disbursements and E banking for better services.

Leading

• Leadership Style this is the leadership style at branch level??
• Bank of Punjab is adopting democratic style of leadership in which employees’ involve in decision-making. The bank use feedback to coach employees for decision-making process. Democratic leadership style could contribute to both quantity and high quality of work.

Controlling:

• Controlling Operations. The bank is committed and focused towards good quality customer service and motto of ‘Putting as smile on our Customers face’; it made concerted efforts and took a number of initiatives. Workshops and seminars were conducted to disseminate the very important message of “excellent customer service”. It is transforming our branches to give a modern look and convenience. A number of branches have been shifted to prominent and spacious locations. It also has established specialized customer facilitation centers to exclusively cater to pension payments, utility and government collections. These are expected to reduce counter traffic at our branches and will increase our distribution channels for better and convenient services. Business hours have been extended with establishment of customer facilitation offices at the regional levels to help on the spot resolution of customer complaints.
• Controlling Performance. Internal control is the fundamental control of any bank branch. The adequacy of internal controls determines largely the risk profile of the branch. Almost all the frauds can be analyzed to stem from faulty internal controls or their absence. Since internal controls have evolved over the years, BOP has accepted them without question-until now. Technology of computerization, which has changed the very face of Banking, has compromised many of the internal controls not only because of other reasons such as execution of a transaction in a different procedure. Monitoring progress towards goal achievement and taking corrective action when needed. BOP is emphasizing on controlling to integration of the activities, plans, attitudes, policies and efforts of the people of the Bank working together to provide reasonable assurance that the organization will achieve its objectives and mission.
• Performance Appraisal system. The Bank has introduced performance appraisal system for its employees. In the first phase executives of the bank have been given increase in their salaries and promotions on the basis of their yearly performance.