Shahidul Areyfin Khan
Senior Assistant Vice President
Eastern Bank PLC
Mr. Shahidul Areyfin Khan is a distinguished financial leader currently serving as the Senior Assistant Vice President at Eastern Bank PLC. With a proven track record of excellence in the banking industry, Mr. Khan brings extensive expertise in financial management, risk assessment, and strategic planning to his role. His dedication to fostering financial growth and ensuring client satisfaction makes him an invaluable asset to Eastern Bank PLC and the broader financial community.
Let’s learn about his journey.
The InCAP: Mr. Shahidul Areyfin Khan, please share your professional and academic peregrination for our readers!
Mr. Shahidul Areyfin Khan: Since 2014, I have served as the Unit Head for Monitoring and Recovery at Eastern Bank PLC. As you are aware, Bangladesh’s most reputable commercial bank is Eastern Bank PLC.
Eastern Bank had a modest beginning in 1992, but it advanced with a little, self-assured step and a promise to make a good difference in people’s lives. Eastern Bank is now synonymous with superior customer care, cutting-edge products, and a top-tier banking experience. Eastern Bank with the most accolades in the nation, is the first in the globe to receive a rating from Moody’s, the premier rating company. For the previous three years in a row, the rating has been confirmed.
Before my tenure at Eastern Bank PLC, I worked at United Commercial Bank PLC from 2009 to 2014. And before that I worked in Dutch Bangla Bank Ltd from 2005 to 2009 and Lanka Bangla Finance Ltd from 2001 to 2005. In total, I possess 22 years of professional experience, primarily focusing on sales, business development, and alternative delivery channels and monitoring. Throughout my career, I have undergone professional training from reputed organizations.
Academic Background
I embarked on my career journey in 2001 after graduating with a Bachelor of Commerce (Hon’s) and a Master’s degree in Management from Jagannath University, Dhaka affiliated with the National University of Bangladesh. Earlier I completed my HSC from Dhaka College and SSC from Motijheel Ideal High School.
This combination of academic and professional experiences has equipped me with a diverse skill set and a strong foundation in the Finance Sector.
Can you please provide an example of a significant achievement during your tenure at Eastern Bank PLC that demonstrates your leadership and strategic thinking?
When I joined Eastern Bank in 2014, Classification of card was 13%, after that I reduced the same to below 5% with my Team. To reduce a huge classification of a single product of a reputed Bank is a mammoth task. When I joined there I took the challenge and motivated my team to work with me in the same alignment. While doing so, I had to motivate them to work under pressure in order to achieve the assigned goal of the Bank. Under my guidance and leadership, all my teammates worked very hard and reduced the same. It was a significant achievement in Eastern Bank PLC under my leadership.
How have you successfully motivated your teams in the past to improve their performance and meet corporate goals?
To meet corporate goals and better performance we have to motivate our team to run towards the goal with a joyful mind and full enthusiasm. To become a part of this he/she has to ensure the below which I already used to motivate my team for better performance and to meet corporate goals:
Clear Communication: Open and transparent communication is essential to work in a team. We have to clearly state the team’s involvement in attaining the company’s goals as well as the individual contributions required of each team member. Everyone needs to be aware of the greater vision and how their work fits into it.
Set SMART Goals: Establish Specific, Measurable, Achievable, Relevant, and Time-bound (SMART) goals for the team and individual members. SMART goals can provide a clear roadmap for success and allow my team members to track their progress.
Recognition and Rewards: Reward outstanding performance with praise. This can include verbal compliments, presents, and awards. Not only does recognition stimulate motivation, but it also encourages desired behaviors.
Provide Autonomy: We need to have faith in the judgment and initiative of each team member. Giving them freedom encourages responsibility and may improve their will to succeed.
Regular Feedback: We always provide constructive feedback on a regular basis. Discuss both strengths and areas for improvement. Feedback should be specific, timely, and focused on helping our team members grow.
Training and Development: We set up training sessions frequently for the team members in order to advance their careers. We provide them with chances to develop their skills and advance their careers, which can inspire them to work hard.
Create a Positive Work Environment: We support a collaborative, respectful, and upbeat work environment. Motivation and productivity can both be strongly impacted by a healthy work environment.
Lead by Example: We exhibit a strong work ethic and dedication to corporate objectives. When team members observe their leader putting in a lot of effort and being committed to the goal, it may motivate them to follow suit.
Flexibility: We tried to be flexible if necessary, such as accommodating personal needs or adjusting work schedules. This demonstrates empathy and can boost team morale.
Long-Term Vision: We always communicate the long-term vision and purpose of the company. When team members understand the impact of their work on the organization’s future, it can be a powerful motivator.
I believe that motivation is an ongoing process. Effective leaders continually assess their team’s needs and adjust their motivational strategies accordingly to maintain high performance and achieve corporate goals.
Mr. Areyfin, Can please you describe your approach to managing retail and cards monitoring in a dynamic and competitive banking environment?
Managing retail and card monitoring in a dynamic and competitive banking environment requires a strategic approach that combines technology, data analytics, risk management, and customer-centricity. Here’s my comprehensive approach to effectively manage these aspects:
Data Gathering and Integration:
We gather data from various sources, including transaction records, customer profiles, market trends, and regulatory updates. We also integrate data from retail operations, card transactions, and other relevant sources into a centralized system.
Advanced Analytics:
We utilize advanced analytics and machine learning algorithms to detect anomalies, identify trends, and predict potential issues. Always monitor transaction volume, fraud rates, customer satisfaction, and profitability.
Fraud Detection and Prevention:
We have to go through a mammoth task to ensure, identify and prevent fraudulent activities.
We need to alert all collectors to keep their eyes open in order to prevent such crimes.
Compliance and Regulatory Adherence:
We have to stay updated with banking regulations and compliance requirements, especially in the context of card transactions. We need to ensure that all retail and card operations adhere to legal and regulatory guidelines.
Customer Experience Enhancement
We use data analytics to understand customer preferences and behaviors. As well as we offer personalized card and retail solutions to enhance the customer experience and drive loyalty.
Competitor Analysis:
We continuously monitor competitors’ offerings, pricing, and customer acquisition strategies. As per analysis, we adjust our retail and card products and services to stay competitive in the market.
Risk Management:
We assess and manage various risks, including credit risk, operational risk, and market risk.
As well as implement risk mitigation strategies and stress-testing models to prepare for adverse scenarios.
Customer Education and Communication:
We educate customers on safe card usage practices, such as PIN protection and reporting lost or stolen cards promptly through SMS /Mail/Letters. Maintain open communication channels with customers, providing updates on security measures and any potential issues.
Feedback and Improvement:
We solicit feedback from customers and employees to identify areas for improvement. Continuously iterate and enhance retail and card products based on feedback and market trends.
Performance Metrics:
We establish clear performance metrics and key performance indicators (KPIs) to evaluate the effectiveness of our retail and card monitoring efforts. For better performance, we regularly review and adjust strategies based on the metrics.
In a dynamic and competitive banking environment, staying ahead requires a proactive and adaptable approach that combines technology, data-driven insights, risk management, and a focus on delivering an exceptional customer experience.
Can you please share your experience in collaborating with cross-functional teams or departments to achieve common objectives?
While doing our day-to-day activities we have to communicate with different departments of the bank to achieve common objectives. I am describing below how organizations can effectively collaborate with cross-functional teams or departments to achieve common objectives based on general best practices:
Establish Clear Objectives and Goals:
We start the whole process by defining clear and specific objectives that all teams can align with. These objectives should be SMART (Specific, Measurable, Achievable, Relevant, and Time-bound).
Effective Communication:
We always maintain open and transparent communication channels among teams and departments. We clearly articulate the common goals, roles, and responsibilities of each team.
Cross-Functional Team Formation:
At first, we create cross-functional teams with members from different departments who possess the necessary skills and expertise to achieve the objectives and ensure diversity in the team to bring different perspectives to the table.
Team Leadership and Facilitation:
We appoint a team leader or project manager who can facilitate collaboration, set priorities, and resolve conflicts among the team and provide leadership with the authority to make decisions and allocate resources.
Regular Meetings and Updates:
The most important part is to make a schedule of regular meetings to discuss progress, share updates, and address challenges. We use collaborative tools and project management software to track tasks and milestones.
Shared Resources and Information:
We provide access to shared resources, databases, and information that all teams may need and encourage teams to share their expertise and knowledge.
Conflict Resolution:
We create a conflict resolution process to address disagreements or competing priorities and encourage open and respectful discussions to find common ground.
Cross-Training:
If needed (as and when necessary) we promote cross-training among team members to enhance their understanding of other departments’ functions and challenges. This can foster empathy and a better appreciation of each other’s roles.
Celebrate Achievements:
We recognize and celebrate the achievements and milestones reached by cross-functional teams. This boosts morale and reinforces the value of collaboration.
Feedback and Continuous Improvement:
We encourage feedback from team members on the collaboration process and use feedback to make continuous improvements to the collaboration strategy.
Performance Metrics:
We define key performance indicators (KPIs) to measure the success of cross-functional collaboration. We regularly assess and analyze these metrics to identify areas for improvement at the same time.
Training and Development:
We train them to enhance the skills and knowledge of team members and ensure that team members have access to the resources needed to excel in their roles.
Flexibility and Adaptability:
We adjust strategies and approaches as the project evolves by considering external factors and market conditions that may require flexibility in achieving objectives.
Effective collaboration with cross-functional teams or departments is crucial for achieving common objectives and fostering innovation within an organization. It requires a combination of clear communication, strong leadership, shared resources, and a commitment to continuous improvement.
What was your first job in life? How much was your first salary? What did you do with the first paycheck?
I have started my career in 2001 from Lanka Bangla Finance Ltd (former VANIK ) and my starting salary was BDT: 9,000 only. Top Management of VANIK was mostly Sri Lankan. That time we got the flavor of Multinational Company in VANIK. The First NBFI company that got the license from BBK to launch Credit Card in Bangladesh other than Commercial Bank.
Mr. Shahidul Areyfin Khan, please say something to the readers!
To all my readers, I wholeheartedly encourage each of you to venture each part of Bangladesh to gather knowledge regarding the culture, food, behavior, nature etc. As well as if possible, travel abroad more frequently to rich your soul. Try to implement the good practice in your work place by using your multicultural experience. Always try to think out of the box that no one imagined before.
To my view “I” is the most egoistic word, avoid this and replace “I” to “We” which will change your life and workplace ambiance as well as be humble to mankind.
Quick Chat With Shahidul Areyfin Khan
The most outstanding achievement of your life as of now:
To be the father of my two lovely daughters.
The greatest philosopher in your view:
Prophet Muhammad (SAW).
Your Icon:
Mr. Ali Reza Iftekhar (Managing Director & CEO of Eastern Bank PLC).
Name the most influential books you have read:
Rich Dad, Poor Dad.
Your greatest fear:
Becoming a burden to my family.
Best piece of advice you’ve received:
“Never lose hope.”
You in only three words:
Workaholic, Punctual, Dedicated.
Skill Set
Hard Skills: Presentation and public speaking, negotiation, data analysis, project management, team management, and marketing.
Soft Skills: Communication, Teamwork. Problem-solving, Time management, Leadership, Adaptability.
Prayer For The Human Civilization:
Life is a race, don’t try to reach the top within a very short time by using your connections, try to reach the top by your hard work and labor. I pray for all of humanity to become more empathetic to all the living in the world.
The InCAP: Thank you, Mr. Shahidul Areyfin Khan! It’s a glittering conversation with you!
Mr. Shahidul Areyfin Khan: My pleasure! Wish you all the best! Thank you.
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