IB2003 MANAGING ISLAMIC FINANCIAL INSTITUTIONS. PRE-EXAM SEMINAR 21 April 2012

Transcription

1 IB2003 MANAGING ISLAMIC FINANCIAL INSTITUTIONS PRE-EXAM SEMINAR 21 April 2012

2 Social and Ethical Responsibilities Islamic banks as recognised entities Sharikah Conditions for partnership Increasing Stakeholders Value 1. Strategic Planning Steps Translating Strategies into Actions to Generate Expected Results Vision, Mission, Values and culture Strategic Planning Process s Examples s Factors Influencing Setting Priorities and Objectives Key Stakeholders of IBs 2

3 Shariah law Unrestricted Investment Account Holders (IAH) Representation of Depositors of CG Statutory and Self Regulation Types Scope Key elements of sound CG Guiding principles Shariah Audit and Compliance 2. Corporate Governance (CG) Roles of Various Committee Board of Directors Auditors Governance issues in IBs Various Corporate Governance Practices Principles of Islamic CG Elements of CG in IFIs Regulatory Framework (Managing Compliance) 3

4 of OC Nature of change process Steps process to changing behavior resistance to change Individual barries Readiness for change Organizational Change and Development What is OB? Minimizing resistance to change of OD Appreciative inquiry process Accountability and Responsibilities Features of accountability environment Creativity vs. conformity Individual values vs. Organizational values Accountability in Islam of O/S Concept of O/S Elements of O/S Departmentalization Matrix organization 3. Organizational Behavior Types of social responsibility of O/D Importance? Organizational Structure and Design Corporate Social Responsibility Nature of CSR Forms of socially responsible behavior O/D decisions CSR in Islam Approaches of O/D Interorganizational designs Strategic alliances Continuum of alliances 4

5 Modern entrepreneurship Characteristic Entrpreneurship 4. Leadership Skills Holistic Leadership Theory Model Islamic perspective Islam & Entrepreneuship 5

6 Overview Executing strategy for breakthrough results Perspectives Strategy focused organization best practices Benefits of balanced scorecards Balanced Scorecard Implementation / Execution Why organizations fail to execute strategy? Implementation is different Implementation is tougher Strategic implementation Framework Components Strategy Execution Process 5. Execution Strategies Strategic Implementation -An Islamic Perspective Conditions for Al-Shura Overview approach Awareness & Education on Islamic Banking 6

7 Shared distribution channel Approach to selling Cross selling What is CRM? Conditions Characteristics Benefits 6. Customer Relationship Management Target markets Positioning principles New business development Key planning considerations Creation of new business opportunities Customer profitability management Why needed? 80:20 Rule Pricing and revenue management 7

8 Convenience of Assessing of Bank s Products and Services Operations of Islamic Windows of International Banks Across the Boundaries of Different Countries Customer Reach Common forms of network 7. Channel Management Distribution Status on entity Branch/ Third Party (Outsource) Issues Governance body Firewall Differences between Islamic and Conventional Banking- Full-Fledged Islamic Banking and Islamic Windows Resources Issues Internet and SMS Banking 8

9 Consumer rights and protection What is customer service? Creating a customer centric organization Quality and Customer Service- An Islamic Perspective 8. Quality & Customer Service Who are the customers of IFIs? Perceive service quality Customer Satisfaction Quality and Customer Service in Islamic Finance Issues and concerns related to quality and customer service in Islamic finance Core components of Customer Service in Islamic Finance 9

10 Business Reporting- Data Visualization Introduction Goals Multidimensional analysis Analytics 9. Business Intelligence Why BI?- Tools Information - Data Process Data wahehouse architecture Data Mining --> Data Warehousing 10

11 Building Blocks for CRM System Successful CRM Implementation Elements of integration Reliability, Integrity and Internal Consistency of CRM Program CRM Diagnostics Purpose Benefits Critical Failure factors to CRM Success Key reasons Types CRM Metrics 10. CRM Implementation CRM and ROI Typical Pitfalls Common pitfalls Strategies Project Managed Operational Guidance Development stages 11

12 Value Creation to Stakeholders Role of capital Capital Management Maintenance of capital funds Capital management in Islamic banking Accountability of Zakat/ Charity Requirements Capital adequacy framework 11. Financial management Statutory Reporting Liquidity Management Reporting Asset Liability Management Safety ALCO ALCO in Islamic banking ALM Challenges Role of Islamic money market Liquidity management Funds management of liquidity 12

13 Steps Bank & Customers Product Perspective Product Innovation Principles of product development 12. Research & Development Levels of meaning Brand management wheel Market niche strategies Advertising Brand Management Market Intelligence Knowledge areas Modes of scanning environment Sponsoring intelligence gathering activities How to improve intelligence processing activity? 13

14 Issues and Challenges Framework of Internal Control and Compliance Internal control deficiencies Process Role of External Auditors 13. Internal Control &Compliance Role of Intetrnal Audit Role of Supervisory Authority Action and Follow-up on Audit Recommendation Challenges and Remedies 14

15 Process What is Compensation? Types Equity in Financial Compensation Determinant of Direct Financial Compensation Benefits Types of Benefits Compensation and Benefits Talent management and Succession Planning Strategy Process Talent Management Strategy Why Talent Management Retain talent Best Practices Applications of Theories What is Succession Planning Enhancing Fit Effective Succession Planning Setting Goals Developing Succession Planning Equitable Motivation Basic Components Structuring Jobs Measuring Job Satisfaction Function Implication of Job Satisfaction 14. Human Capital Management Performance Management Performance Dimensions Approaches to Measure Performance Culture form Islamic Perspective Measuring Performance Attributes and Types of Islamic Culture at w orkpalce Islamic Management Practices Islamic Culture and Virtues - Local Culture What is Competency? Blending Good Local Cultures Organization Culture Core Culture Characteristics Strengths of Organization Culture Competency Development Identfying Competencies Employee Competencies Measurement Competency Development Cultures w itin Organizations Role of Culture in Organizations Form of Organizational Culture Culture Training and Development Training Process Training Methods Creaing and Transmitting Organizational Culture Tools for Transmitting Culture 15