For most Mumbai residents, the mention of 90 Feet Road in the congested Dharavi neighbourhood brings to mind endless traffic jams, incessant honking, and buildings sorely in need of a coat of paint. Just before dawn on Friday, though, it became the venue for a giant street party. For more than half a century, this part of Dharavi has been home to migrants from Tamil Nadu and on Pongal, 90 Feet Road was where they gathered to celebrate the festival of abundance.
A section of the road was closed to traffic and over a 1,000 brick fireplaces had been hastily assembled. Three different kinds of music blared out: one set of sounds from the Shiv Sena loudspeakers, one from the Hindu Yuva Sena and a third from a DJ at the end of the street who was entertaining the kids.
Soon, hundreds of women began to line up. The organisers gave each of them a bag of rice, tamarind, ginger, jaggery, stalks of sugarcane, a brand new cooking pot and a number telling them which fireplace they had been allotted.
Tiny flames lit up the road. The younger women were guided by the elder ones. The wave of pre-dawn camaraderie was broken briefly as the smoke brought itchy tears to everyone's eyes. But as the sun came up, everyone on 90 Feet Road said a silent prayers with folded hands and watched the sweetened rice boiled over just a little, a gesture acknowledging the abundance of the present and a fervent wish that it would continue in the year ahead.
Thought leaders and finance industry experts come together to create leaders of tomorrow
An exclusive course gives a select group of eight enterprising individuals a unique opportunity.
Moving from a mid-level to a leadership role is more than just a designation change. It is a transition that requires the development of key leadership skills including a larger overview of the industry one is a part of. According to an HBR study, as top executives make the transition to occupy leadership roles, having a strategic perspective of an industry is critical to becoming a good leader.
Especially when it comes to the world of finance, this strategic perspective is all the more important given the increasing volatility in the global economy due to political and economic developments. This is evidenced in the fact that in 2016, the global economy expanded only by 2.3%, down from 2.7% in 2015. Shifts in global economic power, technological breakthroughs and demographic and social change are major factors that influence financial policies and regulations.
To help keep the finance industry professionals ahead of the curve in the face of such challenges, Standard Chartered has partnered with Chevening, a UK based organisation, to create the Chevening - Standard Chartered Financial Services Fellowship. This programme focuses on industry insights, knowledge sharing and provides exposure to the workings of the international financial markets. Eight professionals from across various disciplines and industries with potential to become leaders in the financial industry have been selected to be a part of the exclusive course. The tailor-made programme, which will be conducted at King’s College, London, will focus on specialist skills such as risk-management, actuarial sciences, financial regulation and aims to deliver these through a holistic approach.
Immediately after British voters decided to leave the EU, the British pound suffered a 7.6% drop against the dollar. This seismic pound-dollar move caused by geo-political uncertainty is one of the many examples that highlights the importance of having a thorough understanding of how global developments can impact economies. The programme is designed to familiarise participants with the impact of such large-scale movements. While the focus is on examining regulatory and organisational implications of Brexit for the finance industry, the course also includes a study of EU’s financial architecture in the post-Brexit world. Course participants will visit the trading floors of major banks in Canary Wharf, the London Stock Exchange, and travel to The European Commission in Brussels and the European Securities and Markets Authority (ESMA) in Paris. With several companies operating across international boundaries, the experiences provided in this course will enrich them with an in-depth understanding of finance from an international perspective.
Networking with experts
The participants will have numerous opportunities to interact with experts from the Brexit Department; lawmakers, and regulators from the EU and experts from leading financial institutions. These networking opportunities are built in throughout the duration of the course, to enable the sharing of knowledge and industry insights.
Innovation and disruption
Almost all aspects of finance – from retail banking to investments – are being reimagined by digital breakthroughs. For instance, arecent report by Santander, Oliver Wyman and Anthemis estimated that blockchain technology could cut banks’ infrastructure costs for cross-border payments, securities trading and regulatory compliance by $15bn-$20bn a year from 2022. The course includes such modules that focuses on emerging financial innovations such as crowd-funding and blockchain and examines the ways in which they are disrupting the financial world. It aims to equip the participants with the ability to navigate the fast-evolving digital ecosystem.
The fellowship includes lectures by some illustrious faculty members of King’s College such as Dr. Leone Leonida, Co- Director MSc in Banking and Finance, who has published studies on Early Warning Systems and Banking crisis in low-income countries; Professor George Kapetanios, a published authority in econometrics and finance; Professor Jan Dalhuisen, whose research interest lies in International finance; and Professor Takis Tridimas, an authority on economic and monetary union and banking law. Bringing insights from a wide spectrum of financial and economic applications, the faculty will guide the course participants through the eight-week course and impart knowledge to develop the financial leaders of tomorrow.
Standard Chartered’s partnership with the UK government to deliver a holistic financial services leadership programme is part of their commitment to strengthen the global finance community by identifying and training future leaders of the industry. With a 150-year history in some of the world’s most dynamic markets, Standard Chartered, through its partnership with Chevening, aims to facilitate skill development and provide a platform to encourage cross-border engagement and learning. On completion of the fellowship, the participants will return to their respective professions with knowledge and skills that will enable them to further advance their organisation as well as the industry at large.
For more information on the Chevening-Standard Chartered Financial Services fellowship, see here.
This article was produced by the Scroll marketing team on behalf of Standard Chartered and Chevening and not by the Scroll editorial team.