IntroductionInternship is the working attachment with an organization to have a practical working experience. This working experience is an effective tool to correlate the theoretical knowledge with the pragmatic approach. For this reason, internship is a handy tool for a business graduates. Doing internship in IDLC Finance Limited gave me an immense scope to have an in-depth idea about the financial industry. The importance of financial intermediaries in the development of the overall economy of country cannot be described in short. From the inception of the civilization, the financial sector dominates the economic development of a country by mobilizing the savings of the general people and by channeling those savings to investment and eventually, by ensuring economic development and growth. With the emergence of financial sector in Bangladesh government has also come through different activities to reform and revitalize the sector. This report is an Internship Report prepared as a requirement for the completion of the BBA Program, North South University. The primary goal of internship is to provide the job exposure to the student and an opportunity to implement theoretical knowledge in real life situation.I got this valuable opportunity to work as an intern in IDLC Finance Ltd, one of the leading Non-Bank Financial Institution (NBFI) in Bangladesh. Company Overview IDLC Finance Limited was established in Bangladesh in 1985, as the first-ever leasing company of the country, through the collaboration of IFC, German Investment and Development Company (DEG), Kookmin Bank and Korean Development Finance Corporation, the Aga Khan Fund for Economic Development, the City Bank Limited, IPDC of Bangladesh Limited, and SadharanBima Corporation. As the company evolved over the years, the foreign shareholding gradually moved out and the last foreign shareholding was bought out by local sponsors in 2009. IDLC’s strong focus on revenue diversification has led to the establishment of different client segments in the Corporate, Retail, SME and Capital Markets of Bangladesh. The current product portfolio consists of Corporate and Structured Finance solutions for local and multinational corporate houses; Personal financing products such as deposits, home loans, car loans, personal loans etc.; financing facilities for Small and Internship Report on IDLC Finance Limited 1 mostly its employees and clients. having two whollyowned subsidiaries.Medium Enterprises. Even though the department is really small. With this diversified array of products. Moreover. peers. IDLC is now active in promoting responsible practices among its stakeholder groups. Department and People I did my internship under the consumer division in the credit risk management department. Bond Issuance. The Group is represented by over 559 employees working in 28 branches in the major cities of the country. while it is streamlining its own policies and practices to emerge as a truly responsible brand. IDLC has decided to step up its commitment to sustainable business practices. It is a very small but centralized department. IDLC Finance Limited is at present the largest multi-product Non-Bank Financial Institution in Bangladesh. the UN Global Compact (UNGC) and the UN Environment Programme Finance Initiative (UNEP FI). two senior managers and a support executive. My supervisor was one of the assistant managers of the department. IDLC is highly respected by its clients. The people in my department were very friendly and co-operative. The department consists of ten credit analysts. As part of this commitment. With significant growth in its business and profit over the last few years. and is a standard bearer in this regard in the financial sector of Bangladesh. the people in the department make it livelier than the other ones. RPO. Internship Report on IDLC Finance Limited 2 . its progressive and enabling work environment. It has subscribed to a number of leading local and international sustainability initiatives including the Bangladesh CSR Centre. I never got any sort of unfair treatment from them. Rights Shares Offering etc. and Brokerage services. All most all of them are former student of Dhaka University and working here in IDLC for quite a while. and IDLC is the first company to become a member of UNEPFI from Bangladesh. the company has consistently demonstrated exemplary corporate governance and strict statutory compliance. employees and regulators for its professional pool of resources. with particular focus on environmental and social development. starting from 2010. IDLC Investments Limited and IDLC Securities Limited for carrying out its capital market operations.). They made sure that I was feeling comfortable from the very first day. its silver jubilee year. The reason labeled it as a small department is due to the number of employees in this department. and its strong ethical practices. Merchant Banking solutions such as Portfolio Management and Investment Banking (IPO. One of the best features of IDLC Finance Ltd is its working environment. A positive. The treatment I got from them was very much appreciated. each of the department had helped me in every way they could. which I must admit that it happened a lot on my initial days of internship. the credit for that goes directly to this person. With sufficient lighting and fully air conditioned department makes the working environment much more pleasant. He has helped me immensely in my internship days. On top of that. But within the first week my colleagues eased me up. Internship Report on IDLC Finance Limited 3 . working environment of an organization plays a major part in employee’s job satisfaction. All the employees of the department are very professional when it comes to do their jobs. Starting from the boss to the support executive. they were always there to help out each other. At first I was little worried that how I would work with so many people who are older than me and because of that reason I was a bit stiff in my starting days of internship. The people within the department used to make the department very lively. Each department had multiple cubicles with PC for their employees. The physical environment too was excellent. whenever I had any trouble in understanding anything. On the other hand when anyone needed help. creative work environment is what retains employees in the long run. assistant manager of credit risk management. consumer division.Working Environment According to world renowned psychologist Frederick Herzberg. everyone used to make jokes and share incidents which used to make the place much more alive than the other departments. but also the other colleagues have also been very helpful and never said no when I needed their help. The working environment of credit risk management department of IDLC Finance Ltd is simply excellent. the working environment is excellent at IDLC Finance Limited. all the employees of IDLC are very friendly in nature. I worked directly under the supervision of Reaz Hassan Awwal. After judging all the factors I had to admit. and motivates them to work harder. From the first day. Not only he. Most of the things I may have learnt in my internship experience. collaborative. And within no time I felt part of the huge IDLC family. We often used to have lunch together and also hanged out after the office hours. I observed the credit analyst throughout a visit since I wanted to observe how an analyst makes the analysis. but after the guidance and the practice of internship. I also had to use different all sortsof formulas that were required to sort and acquire data. I was properly trained to use FLEXCUBE. Thisbanking software enables to keep records of the clients and also helps to disburse loan for the organization. the most important thing that I got to learn was the process of operating FLEXCUBE. I used to analyze the statement and do the analytical part as well for the credit analysts although the respective analyst used to recheck the statements for safety purposes. Oracle Corporation. I had to use Pivot tables to maintain database. This gave me the opportunity to learn and gain confidence in myself. I got to learn quite a few things from the other colleagues as well as from my supervisor. Based on that. The things I learned throughout my internship program are: In this internship. Through this visit. I often had to prepare car loan applicants bank statements on behalf of the credit analysts of IDLC. I got the chance to have a firsthand experience where I learned how a credit analyst verifies data and how to make aneffective observation. an international banking software made by the second largest software making company in the world. I also made two client visits along with the analysts. My learning experience began from day one. My supervisor taught me how to make the basic analysis based on the prepared bank statements. This was another completely different type of learning experience.Learning Experience in IDLC I had the great opportunity to learn a lot of things during my internship period in IDLC Finance Limited. I realized that I have been skilled on it even better. Internship Report on IDLC Finance Limited 4 . I always thought I was good at handling Excel. My supervisor and my colleagues were very supportive and helped me to learn a lot of things which was needed for my internship. I was trained very effectively since one of my major responsibilities was to operate this software on a daily basis. As a result. Only some of the leading banks and NBFI use this software. and I also had to use VLOOKUP on a daily basis. Most of the works in IDLC are done in Microsoft Excel. Most of the time people from the other department used to be impatient and inconsiderate but I used to handle them tactfully using my interpersonal skills. I had to constantly mail my superiors which sometimes included even the head of the division. I learned a few ways to detect forgery.Lastly and most importantly. I am confident that I will be able to make the best use of these skills in the future. Skills Gained and Honed An internship program helps a student to learn new skills as well as hone existing ones. Internship Report on IDLC Finance Limited 5 . I always believed that I had a good interpersonal skill and here I got to prove it. and how to multitask effectively and efficiently. These were the skills I thought got to develop during my internship period. On top of that. I believe all these things really improved my communication skills. I also had to constantly maintain communication with the third party organizations as a part of my duties. It is usually not easy to detect forgery. I was able to build quite a few connections with people from other departments. but I still got a lot of pointers and some basic knowledge regarding the issues from my supervisor who is an expert at detecting forgery. increase my productivity. Internship at IDLC gave me a lot of opportunities to gain and hone multiple skills. I also learned how to use Microsoft Outlook effectively. My communication skills got much better over the last three months here in IDLC. particularly those which will be valuable for the future. For example. Over the time period I learned how to use my time efficiently. in my first month in IDLC I could only make 10-12 FLEXCUBE entries in an entire day but as time went by I could make up to 30-35 entries and keep track of my other works as well. due to my interpersonal skills. On top of that. My time management skills also improved drastically. I had to constantly deal with individuals from different departments of consumer division. I also got to witness a few clients with fake documents in my time here at IDLC. These practices made my formal communication skills much better. Sending and receiving CPV was another important aspect of my job. To ensure customers reliability. Over the period of three months. Although it was not a hard job. turnover and also indicates that he can pay the installments properly. our department collects Customers Performance Valuation (CPV) with the help ofa third party agency. the first page is about the basic information and second page is analytical. This software enables Credit Administration department to disburse loans to the clients. I did more than nine hundred FLEXCUBE entries. My duty was to prepare the bank statement in such a manner that the credit analysts could easily take the decision. Another duty was to prepare organized bank statements of the car loan applicants. Here are the works that I have done to contribute to the company: Operating FLEXCUBE software was one of my main responsibilities in IDLC. These organized bank statements indicate applicants’ average monthly balance and credit turnover for previous one year. And my duty was to update the pipeline every day. The basic important information of files has been kept as a record in this Pipeline. Even the slightest mistake could halt the disbursement process and create complications. But I was given the responsibility which I did very carefully. Operating and maintaining the pipeline were other daily operations of mine. I also had to create clients appraisal on a daily basis. This bank statement plays a vital role whether the loan will be given or not. Each of the Pipelines represents a different category of file information. then the loan is usually provided. This agency verified three types of documents provided by Internship Report on IDLC Finance Limited 6 . Usually a car loan applicant needs to provide bank statements to IDLC. It was basically a writing down all the information regarding the client on an excel sheet. I had a various sorts of jobs and activities.My Contribution to the Company Over my course of internship in IDLC Finance Limited. This department maintains this spread sheet by general Microsoft Excel. And by doing it. I used to complete the first page and later the credit analysts used to fill out the rest. I used to save a lot of important time of the analysts. Pipeline is the central spared sheet which contains all the files data. These appraisals were usually a two paged document. it used to take a lot of time. If the applicant has a pleasant average balance. rental verification and bank statement verification. My responsibility was to send all the statements which needed verification to the third party agency. I had to make follow up calls and mails to ensure the punctuality of their service. I tried my best and was successful to train them properly. I used to give them task to analyze their progress and supervise them. I recommended that the software entries should be passed on to another department which will make the disbursement easier. On top of that. basic information and technical analysis where made in the appraisal format. those need to have address verification. And the senior members of the department discussed and agreed to take necessary actions to implement it from the next month. I also had to give training to some permanent employees of another department. After the training. At the end of each month. I had to call the third party and ensure that the pending documents came at our end at the right time. Maintaining communication with a third party agency (Brisk Management Service) was another way I contributed to the organization. they will be training others as well. To ensure easier and effective way to do so. so I had to be sure that I covered everything. a lot of loan disbursements were made to maximize the loan giving portfolio and meet monthly goals of the organization. I was requested to ensure no disbursement was interrupted due to our department. I was given the responsibility to train a couple of employees who will be taking over the software operations from the next month. Internship Report on IDLC Finance Limited 7 . As I mentioned earlier. This way. and also received and recorded the CPV when they came back. This way I believe that I was able to make a strong contribution to the organization. Sometimes I also used to do correction if there was any sort of mistake in the format. To ensure that.the applicant. Since I was really good at operating FLEXCUBE. This software entry used to take quite a while and due to that urgent files could not be passed to the next stage. I also made a recommendation regarding FLEXCUBE entries to the senior managers of the department. I contributed to the organization. I used to make some adjustments to the format with my supervisor. Updating appraisal formats was another work I used to do on a monthly basis. I also had to distribute those CPVs to the credit analysts. I along with another colleague used to call all the other branches that was going to disburse in the last few days. These were the challenges I faced during my internship. On top of that I used to have a constant headache. But with the help of my supervisor and my colleagues. Never in my life had I had to seat approximately eight hours straight and work on a computer. and if they needed any support from us. I also had to face quite few difficulties in my internship program. And once they pointed out the difficulties. But eventually with the help of my colleagues and the organizational environment made me feel happier. eventually I mentally accepted the fact that my student life was over. Not all of them were due to the organization rather it mostly was due to some personal issues. Overcoming Challenges An internship program’s best part is that it provides a student a lot of real life experiences. Often this transition is not that easy for a lot of students. I also used to have difficulties multitasking and managing all the work within allocated time. After two or three weeks I adapted to these pains and got used to it. Internship helps the student to go through the transition period from student life to professional life. Later. I believe facing these challenges and overcoming them will have a positive effect in the near future. in the first few weeks my back and eyes used to pain really badly. I learned ways to cope with pressure situation and also learned ways to perform tasks in a much easier manner. As a result. our efforts were acknowledged by the senior managers of the division and we were rewarded with some treat from the heads. the pressure of work used to be too much.We used to ask if they were facing any kind of difficulties. Firstly I had difficulties accepting the fact that my student life was over and I had to attend office every ten to six pm. And during the last few days of each month. we used to take necessary actions to solve those issues as soon as possible. I also had to face some physical difficulties. With our effort we ensured that no last moment disbursement was interrupted. Internship Report on IDLC Finance Limited 8 . I also felt all my social life was over. After his explanation of the process.Comparison of Academic Learning and Internship Experience An internship program is a platform for the students to relate their academic knowledge in real life. I had some expectations from this program. and these situations frequently are changeable. What I understood while doing this internship program was experience in job is much more valuable than academic knowledge. There were times when I saw the analysts were not giving loan even though the clients had good bank statement and collaterals. Since. I used to calculate the installments and some other ratios which were essential for analysts to take decision by using some software. I was unable to draw a linkage between my academic knowledge and real life work setting. I saw how the things I have learned were being implemented in real but in little bit different manner. Before the internship. When my supervisor saw that I was having difficulties in linking the two things he helped me to understand how evaluation process takes place. A lot of the works had nothing to do with implementing my academic knowledge. For example. Those decisions were made only on the basis of previous learning and experience which cannot be taught by anyone. There were many decisions taken only on the basis of experience. I have learned that real life experience and academic knowledge are not always similar. the students of the BBA program are engaged with very much theoretical course work. But in reality. Since I was working in credit risk management department. and how they came to a decision. But were also times when I applied the knowledge I gathered from my academic experience into my internship program. I was able to witness how a client is evaluated by the analyst. When I started my internship program. But academic knowledge can be very helpful in dealing with real life problems and can provide us a proper guideline. Through this internship experience. initially it was a bit difficult to understand what was going on around me. in our BBA program. I expected that my job will give me some opportunities to actually exercise some of my knowledge. Real life situations are far more practical and sensitive to different factors. only the internship program can give them some practical knowledge. we learned how to use time value of money to find the monthly installments. and my applications were accurate and correct. and hopeful that I would learn even more. I felt like I knew nothing and I will not be able to do anything there. Internship Report on IDLC Finance Limited 9 . after a certain point of time. But at the same time. Even the banks do not provide such huge performance bonuses to their employees. After learning all the pros and cons. I also learned the compensation packages of IDLC Finance Ltd. The employees get up to ten to twelve times their basic salary as their bonus based on their yearly performance. Through the internship. People need to do same type of jobs over and over again. Even though some employees feel that it should be even better since it is currently the number one NBFI in Bangladesh. I always wanted to see myself working at a financial institution someday. But even though the job’s nature was dull and boring. I have realized that I would love to pursue my career in such leading NBFI or other such financial institutions like bank. The compensation package of IDLC is quite competitive. sometimes it can be a bit tough but the experience and social status someone gets by working in such organizations is definitely Internship Report on IDLC Finance Limited 10 . The natures of the jobs are pretty tedious and tiresome. Through my experience I have learnt and understood that a good working environment and right people can make the job fun and interesting. I have seen how dedicated and punctual employees are when it comes to serve the organization. There are two festive bonuses and a yearly performance bonus. So this internship experience helped to understand the nature of financial institutions and take my decision. there is a friendly environment and everyone is helping each other. There is also a healthy competition among the employees to do more work than one another. The yearly performance bonus is most attractive feature in IDLCs compensation package. the overall package makes it great. All these things created some doubt in my head. I have heard many people saying that jobs at banks and NBFIs are really boring. Even though there were some complaints about the salary. I have learned that rumors I heard about jobs in financial institution was not totally wrong. Everyone always put focus on meeting their deadline of submitting and completing job. These things really motivated me for this sector. the growth of career comes to a halt due to the organizational structure.Influence in Career Planning As I have done my major in Finance. Job in such financial institutions might not be that easy. people here had time to enjoy themselves. One negative thing about IDLC I have learned was that. I have learnt many things while working in IDLC Finance Ltd. One can never be really clued up on what a job entails until he has been working practically in that role. this internship was a great learning experience for me. Internship Report on IDLC Finance Limited 11 . I am sure I would get different types of experience compared to what I have received in IDLC. I consider myself very lucky to have this opportunity and to work as an intern at IDLC Finance Limited. Conclusion All in all. This internship program gave me the chance to assess everything regarding my future plans and come to a conclusion. I would like to do it in a multinational bank. I learnt how to work as a team and the experience that I have gathered is invaluable. Redoing Internship My internship experience was really valuable for me and I would not want to do it any other way. But if I had to redo this internship for some reason once again. This internship provided me the opportunity to gain hands on work experience that one just cannot get in the classroom.worth the toughness of the job someone has to go through. It has given me a real world idea about financial institutions. I would love to be a part of corporate division of a multinational bank. Regardless of how much one thinks he has learned about his chosen career from studies he will learn so much information and acquire so many skills from an internship. If co-workers are helpful and friendly. that pain and toughness of the job will quickly fade away. I also got the opportunity to apply my academic knowledge and dealt with real life problems. Most importantly. gives utmost priority to their clients. I have already got a firsthand experience in one the leading nonbanking financial institution. This experience has provided me a guideline in which way I should pursue my career in the future. I also got to work in a corporate working environment where everyone is helpful and at the same time.