Banking Financial Services Insurance

India, with a population of more than a billion and its rising per capita income, provides an enormous opportunity for the Banking, Financial Services and Insurance companies to expand by introducing new products, leveraging technology and ramping up pan-India.

Banking has emerged as a resurgent sector in recruiting talent and is one of the most preferred avenues of employment. Financial Services and Insurance too are looking to build out a large and performing workforce taking their products to an underserved market. With business performance directly correlated to talent, the quality of talent is of utmost importance.

Aspiring Minds solutions for the BFSI sector are designed to evaluate and acquire the right talent while simultaneously increasing the reach and sourcing capability of your organization. AMCAT – BFSI is Aspiring Minds' assessment suite for the BFSI sector. Combined with our sourcing solutions it offers a complete solution of sourcing, evaluating and engaging talent.

The Need

While the nationalized banks and insurance corporations have a centralized process of hiring , the slew of private sector banks , regional banks , cooperative banks , private sector insurance and financial service providers including NBFCs, microfinance as wells as large multi-national BFSI corporations have a dire need of the right quality of talent both at entry level and laterally.

To mesh out from a myriad of graduates, MBAs and hire talent aligned with objective requirement of skills related to a functional profile is not just challenging, but highly inefficient without the use of scientific assessment tools.

Is your hiring quality consistent across hundreds of locations? Has your assessment and process been compromised? Are you missing out on good candidates, whereas hiring the wrong ones? One needs to ask and worry about these and many such questions.

Aspiring Minds' AMCAT-BFSI helps you not only answer these but ensure you are acquiring talent which has a high probability of performing well on the job. AMCAT BFSI assessments are designed to ensure quality recruitment, coupled with myAMCAT.com to increase your reach to talent manifold.

AMCAT-BFSI has demonstrated exceptional predictive power in functional trainability, soft skill learn-ability and on-job success in several BFSI roles.

AMCAT BFSI

AMCAT BFSI is a suite of language, aptitude, domain and personality assessments. These adaptive and standardized assessment modules help us ensure reliable evaluation and strong differentiation between trainable and unemployable talent.

AMCAT BFSI includes:

• Language Skills
  • AMCAT English Comprehension
• Cognitive Skills
  • AMCAT Logical Ability
  • AMCAT Quantitative Ability
• Domain Skills
  • Knowledge – Banking
  • Knowledge – Insurance
  • Knowledge – Financial Services
  • Finance & Accounting
  • Accounting – Banking
  • Accounting – Insurance
  • Accounting – Financial Services
  • Financial Statement Analysis
• Personality
  • AMPI (or AMPI Forced Choice)

We recommend a combination of these plug-and-play modules depending on the job role and the targeted supply. AMCAT-BFSI has been used successfully to hire fresh talent for entry roles such as sales, customer service, desk operations and mid-level roles like relationship management and branch management.

Trainability and Performance

The capability to hire trainable candidates i.e. to pick raw talent and craft them into a successful BFSI professional through internal training is the key to success for any entry level hiring program. For being able to ensure 100% training success one needs to hire the right candidates. Estimates predict each training failure costs the company anywhere between 1.5 to 2.5 times the annual compensation.

Being able to predict actual job performance is the hallmark of Aspiring Minds talent evaluation solutions. With a dearth of trained talent, BFSI organizations yearn to both minimal thresholds of knowledge and trainability.

A BFSI professional's job success depends on both functional competence and soft skills. Functionally competent professionals are expected to be good at problem solving and selling skills. The candidate’s soft-skills determine the ability to comprehend instructions, plan his tasks and communicate with clients and colleagues.

AMCAT-BFSI evaluates candidates across competencies required to succeed in the BFSI industry – Language, Aptitude, Personality and Domain Knowledge.

Aspiring Minds Research Cell's studies demonstrate that various combination of modules of AMCAT BFSI predict success for different roles in the BFSI sector. For example performance of corporate banking relationship managers has shown strong correlation to AMCAT English, AMCAT Logical Ability and AMPI personality traits of Agreeableness and conscientiousness. Similarly we have been able to predict performance of people in Insurance sales roles using a combination of basic knowledge and personality.

Sourcing Solutions

AMCAT-BFSI certified candidate database together with on-campus delivery of AMCAT-BFSI provides a complete sourcing solution for corporates. AMCAT-BFSI can be combined with the organization’s entry level campus hiring program and deployed across the nation for on-campus assessment. Aspiring Minds has pan-India capability to conduct AMCAT-BFSI at any campus of your choice. Please read more here.

myAMCAT.com is India's largest candidate database of certified entry level job seekers. The database is growing rapidly for graduates and MBAs. myAMCAT.com has candidates both from the current final year and from past years as well.

With less than 20% of all graduates being employable, use of this pre-certified database of candidates in combination with your own campus program can help reduce your recruitment costs and increase your reach significantly. Read more about myAMCAT.com here.

On-Campus and Off-campus

Our assessments can be delivered on-campus anywhere in the country. Our on-campus process is end-to-end and provides tools for managing applicant data, generating invites, conducting on-campus computer based assessments, short-listing candidates, interview tracking and issue of offer letters. This may be used for individual or pooled graduate/MBA campuses. You may read more about on-campus delivery here.

Clients can shortlist candidates from myAMCAT.com based on their scores and invite them to their on-campus events. This helps increase reach to more colleges and significantly reduce cost.

Be it a few tens of candidates or a few thousand, large and small off-campus drives can be powered by AMCAT-IT and myAMCAT.com database. Aspiring Minds can help you with your entire off-campus hiring needs by sourcing certified candidates, sourcing new candidates for assessments, finding free infrastructure, conducting assessments, managing interviews and enabling joining. Please read more about our off-campus capabilities here.

Scale and Delivery

22,000 candidates assessed over computers at 5 locations in 3 days! 1800 offers made!!

Aspiring Minds is working with some of the largest banking and insurance organisations in the country. We have helped our clients hire quality resources in a matter of few days. Our client solutions team can build customized solutions as per the needs of the customer. With a pan India presence, we can help you with sourcing, evaluating and hiring talent from across the country.

Aspiring Minds runs very large campus programs of organizations visiting over 200 campuses in a couple of months. Our pan India delivery team ensures all events are conducted with clockwork precision.