Relationship Managers in Bahrain Banking Industry - Free Samples

Question: Discuss about the Relationship Managers in Bahrain Banking Industry. Answer: Introduction The banking industry in Bahrain becomes very lucrative for business and creates plenty of opportunities for getting job placements. Subsequently, the Ahil United Bank formerly known as Al-Ahli Commercial Bank has successfully established a strong market capitalisation in the emerging financial industry in Bahrain. Therefore, the purpose of this report is to find out the key facets of business dynamics in that banking organisation and point out the advantages and disadvantages for getting a job as relationship manager. According to the manager, Sayed Mohammed Al. Alawi who works as a relationship manager in Ahil United Bank has pointed out some key characteristics regarding the nature of the job of relationship manager and the skill that are required to fit the job. However, there are a number of challenges that being a relationship manager he is facing. Moreover, he puts some lights on the remuneration and the process of achieving a managerial post. Opportunity and competency A relationship manager is a person who sets contacts with customers and business clients. Therefore, the relationship management has to perform in two different fields- one deals with the customers and is known as Customer relationship management (CRM) and the other one is related to business relationship management (BRM). Keeping in mind of the role of relationship managers it can be stated that relationship management depends on a group of factors, such as Excellent communication skill- An outstanding command over communication is a basic requirement for a relationship manager. Communication can be done through non-voice or invoice processing. Simultaneously, the relationship manager has to be a good listener. One of the primary tasks of the relationship manager is to expand the business capitalization for the company and for this the manager has to maintain daily connections with the existing and loyal clients. Confidence and Presentation- Confidence is considered to be a prime factor for any job. It will help to analyze any task properly and enhance the chance to take prompt actions in time. Besides this, proper knowledge in MS Word and Power point presentations are also required to deliver a report in meeting. Understanding the financial products and markets- The manager, Mr. Sayed Mohammed Al. Alawi of Ahil United Bank of Bahrain has a clear idea of the products and market situation. Moreover, it is also necessary to skill in mathematics and accountancy is also needed to get a clear idea about the financial products and finance associated market. Personality and experience- Personality and experience are the key skills that an employee or owner should possess. In this regards, as a relationship manager personality is considered to be so essential because the managers communicate with internal hierarchy and externally the customers and clients. Responsibilities- Proper strategy and analytical abilities reflect the efficiency of a relationship manager. It is associated with a tracking the data related to the company and the manager is responsible to take adequate steps to meet the target. In this regards, relationship managers have to be concerned about the continuous flow of raw materials and supply of services. Mr. Alawi was very clear about the activities of a relationship manager and expressed his perception about the advantages and disadvantages of the job in present case scenario. During the interview Mr. Alawi suggested that proper education in banking and finance with a thorough experience of 3 to 5 years in the banking industry will be beneficial to get the job. Therefore, he ventilated his concern about the downfall in the current market situation and competitive pressure can increase more pressure on the relationship manager. Nonetheless, utilizing communication skills and a command over the concept of marketing and finance can be leverage for making progress. Bachelors degree in banking and finance or accounting will not be seemed adequate and hence professional courses like CFA or 3 to 5 years experience in banking sector is required. In fact, drastic expansion of the Bahrain bank industry heightened the workloads of the relationship managers. Therefore, most of the companies are looking for a unique marketing strategy to yield more profits. Opportunities in Banking Industry in Bahrain Politics- Politically Bahrain is meddling with mass movements like the Arab spring in 2011 (Matta, Appleton Bleaney, 2017). However, the movement did not erupt in Bahrain nevertheless had an international influence which affected Bahrain domestically. Economics- The social environment and the technological advancement facilitate the opportunity for banking industries in Bahrain (Al-Shammari Kanina, 2015). Therefore, it is evident to have a strong market competition in Bahrain for the banking sector. Indeed, the annual turnover was estimated US$192 billion in the year 2016 (Matta, Appleton Bleaney, 2017). Society- The financial sector in Bahrain represents 65% of the workforce (Matta, Appleton Bleaney, 2017). In fact, the employment in Bahrain banking increased 1.1% in 2015 in compare to the year 2014 (Almossawi, 2015). Furthermore, number of job opportunity had increased at a rate of 5.1% in 2015 which is good news for job seekers (Ntti et al., 2014). Technology- The technological advancement in finance industry of Bahrain is quiet effective. For convincing clients and customers outdoor services with special financial privileges are being provided (Sibilkov McConnell, 2014). Besides this, the industry is also performing through different banking applications and softwares for the benefit of their customers. Therefore, the banking and finance sector comprises 85% of the total financial assets in Bahrain (Ahliunited.com., 2018). Competencies in Ahil United Bank The Ahil United Bank is one of the leading banks in Bahrain which was established in 2000 when two major banks of Bahrain named The United Bank of Kuwait (UBK) and Al-Ahli Commercial Bank B.S.C. (ACB) had been merged and became known as Ahil United Bank (AUB) (Mousa, 2015). The AUB has also its office in UK. The present Chairman of the company is Hamad Mishari Al-Humaidhi. The key aims and objectives of AUB are emphasised on the maximization of the shareholder values and maintain solid capital adequacy and liquidity ratio. Due to enormous banking activity AUB has been awarded with Bank of the year in Middle East in 2016 (Ahliunited.com., 2018). The banking market in Bahrain is very dynamic and full of opportunities. In fact, AUB has increased their assets since they merged with the United Bank of Kuwait. Therefore, to get a job in a promising bank will be beneficial to get a job as relationship manager in the bank.The influx of client in AUB is also helpful for the relationship manager to fulfil the target requirements given by the company. As a reason of that, it will be better to get opportunity in AUB. Most of the banks in Bahrain are now put focus on the global market to get more market capitalisation. Hence, it requires relationship managers who have the quality and skill to manage customers and clients. There is also some possible vacancy for the post of relationship manager that will be a good opportunity for job seekers. Preferred job qualification The job criterion encompasses a qualification in finance and banking with an experience of 3 to 5 years. In this regards, I have done my bachelor degree in finance and banking though have no past experience in this field. However, I have pursued a certificate course on relationship management which can be useful for the job. The economic crisis and political instability are perturbing the business situation of the company. Therefore, the presence of volatile market can create issues for the relationship management of the company. AUB is going to expand its business capitalisation, so that, it is obvious that the target and objectives will be shifted from the past. As a result of that, the work pressure of the relationship managers will also become intensify. After getting job in relationship management there is a prolonged process to become a relationship manager. Various ranks and subordination will complicate the understanding of the hierarchy. I am eagerly looking for an opportunity to get involved in the AUB relationship management. The factors behind this are firstly I have done my bachelor degree in banking and finance and also have a course on relationship management. Furthermore, the banking industry in Bahrain is very lucrative and provides more opportunity for me. Hence, I am really interested in getting a job in the banking industry and AUB will be the best option for it. Conclusion It can be concluded that the report has been succeeded to highlight the steady growth of the Bahrain banking and finance industry by putting focus on the Ahil United Bank and its banking attributes. Moreover, a close interaction with the present relationship manager of the given organisation added more importance to the discussion and identified future opportunities to become a relationship manager. References Ahliunited.com. Our History and Our Future. Ahli United Bank. (2018).Ahliunited.com. Retrieved 8 April 2018, from https://www.ahliunited.com/bh_aub.html Almossawi, M. M. (2015). The impact of word of mouth (WOM) on the bank selection decision of the youth: A case of Bahrain.International Journal of Business and Management,10(4), 123. Al-Shammari, M., Kanina, A. S. (2015). Service Quality and its Relationship with Customer Satisfaction and Loyalty in a Saudi Arabian Automobile Company.Global Journal of Management And Business Research. Khodakarami, F., Chan, Y. E. (2014). Exploring the role of customer relationship management (CRM) systems in customer knowledge creation.Information Management,51(1), 27-42. Matta, S., Appleton, S., Bleaney, M. F. (2017).The economic impact of political instability and mass civil protest(No. 17/03). CREDIT Research Paper. Mousa, G. A. (2015). Financial Ratios versus Data Envelopment Analysis: The Efficiency Assessment of Banking Sector in Bahrain Bourse.International Journal of Business and Statistical Analysis,2(2), 75-84. Ntti, S., Pekkarinen, S., Hartikka, A., Holappa, T. (2014). The intermediator role in value co-creation within a triadic business service relationship.Industrial Marketing Management,43(6), 977-984. Osman, J. (2016). An empirical study on the satisfaction level of customers regarding Bank Alfalahs digital products service. Policy, C. G. (2016). Ahli United Bank Limited (AUBL).Policy. Sibilkov, V., McConnell, J. J. (2014). Prior client performance and the choice of investment bank advisors in corporate acquisitions.The Review of Financial Studies,27(8), 2474-2503.