Riskflow, in association with SimArch, will conduct the Online Bank Management Contest 2014 for young banking professionals across Africa.
From 24 to 26 June 2014, young banking professionals will join via Webinar to take part in the Online Bank Management Contest (OBMC). According to Riskflow, the young professionals will be exposed to a unique and valuable learning experience that will provide them with insight into the current challenges in the African banking industry, the development of Basel III in Africa, and issues in compliance, governance and risk management.
Each invited bank can enrol a team of young banking professionals. Each team comprises three to four young professionals with a maximum of five years' banking experience.
"Each OBMC consists of three action-packed days. During the three days, participants are exposed to the complexities of managing a bank. The participants have to face challenging economic and business conditions, compete for loan and deposits, and have to comply with central bank regulations at all times," notes Riskflow.
The management teams, which comprise up to four members each, have to manage a full-service bank for four financial quarters using the banking simulation called FirstB@nk, says Riskflow.
According to the company, teams decide on their strategy for the bank and make decisions with regard to bank management, portfolio mix, funding sources, marketing and branch network. During each financial quarter, teams are required to make optimal decisions for their bank, taking the economic situation, competition and central bank releases into account.
After each financial quarter, feedback is provided via Webinar, as well as central bank releases. During the three days, a large amount of learning is involved. A support team is available throughout the three days to assist teams online as and when necessary.
Each OBMC has a tailored economic and banking environment offering a realistic duplicate of the banking environment in Africa. At the end of the three days, SimArch and its team of experts assess the performance of all teams in order to select the winning team.
The total cost per team is EUR2 500 (EUR625 per person in a team of four). If the bank enrols more than two teams, the third team will take part free of charge.
Registration fees include the following: access to the OBMC portal; access to the FirstB@nk Banking Simulation Program; access to all live Webinars; three days' online training; fees for the online facilitators and guest speakers; and support by the SimArch Support Team.
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