Genpact Limited, a global provider of designing, transforming, and running intelligent business operations, has signed a memorandum of understanding (MoU) agreement with the University of Calcutta to jointly develop a research and analytics program.
The Federation of Indian Chambers of Commerce and Industry (FICCI) West Bengal State Council have been instrumental in facilitating this partnership.
Over the last few years, banks and financial institutions have had to face continued volatility and an emergence of new regulations. At the same time, rapid digitization has led to an explosion in data which presents challenges as well as opportunities to drive smarter decision-making.
These factors have led to a sharp rise in demand for talent in the areas of risk management, customer insight, and sustainable growth. Genpact has responded to this by building its “Risk Academy” to acquire and manage talent to fill these gaps. The research and analytics program alliance with University of Calcutta is one of the components of this academy.
This innovative program comprises a set of methodologies and applied learning based on Genpact’s expertise and broad suite of analytics solutions serving multiple banks globally. The program provides students with exposure to risk management and financial services analytics applications through training, guest lectures, and workshops. Upon successful completion of the program, students become eligible for employment in the analytics practice at Genpact.
While the primary objective of the program is to increase employability and generate a steady supply of industry-ready professionals, Genpact and the University of Calcutta also intend to build a broader learning platform for risk management and analytics. This includes capability development and innovation in the analytics domain as well as incubation of new ideas and joint research that brings academia and industry together to build a larger ecosystem around data-enabled decision-making.
Announcing the signing of the agreement, Manish Chopra, Senior Vice President and Business Leader, Risk Services at Genpact said, “The financial services industry is grappling with a shortage of talent with the right skills in the constantly-evolving risk and compliance processes. This partnership will differentiate us in quickly adding a sustainable talent pool in niche areas like model validation, stress testing, and data analytics. We will also be helping young professionals build a deeper appreciation of analytical tools and their application in an increasingly data-driven and technologically-connected world.”
Professor Suranjan Das, Vice Chancellor at the University of Calcutta said, “A major challenge for higher education in India today is to develop a strong interface between university and industry, which should be mutually beneficial. In recent years, West Bengal has taken an initiative in this direction. Although a late-comer in the field of university-industry partnership programs, the University of Calcutta has already overtaken many of the universities which had entered the field earlier. The present MoU that will be signed between the University of Calcutta and Genpact is testimony to this fact.”
Pavan Poddar, co-chairman, FICCI West Bengal State Council said, “The FICCI West Bengal State Council has been actively working in the higher education sector in West Bengal with the goal of facilitating a sustainable mechanism for fostering industry-academia linkages, capacity building, and greater corporate participation to enhance youth employability and skills. This MoU to develop a research and analytics program is a very positive step in addressing the demand-supply gap in the analytics sector.”
