Job description of an assistant
Based on his view of what is happening in fortune financial services limited (FFSL), robin singh, the branch manager of Delhi office, concluded that one of the first things he had to attend involved developing job descriptions for his on-line trading assistants. The daily turnover of the FFSL’s branch in the Connaught circus area has been going up steadily in recent times, thanks to the stock market boom, in jan 2003, it had reached an all- time high of Rs.10 crore. To encash the opportunities presented by the boom, FFSL had recruited 5 additional assistants – all young graduates with over two years ‘experience in stock operations –taking the total number of trading assistants to 12. Two supervisors had also been appointed about six months back to oversee trading arrangements and back-office operations. The branch allows trading in stocks belonging to Bombay stock exchanges and national stock exchange. Each assistant had to look after the requirements of more than 50 clients on a daily basis. In recent times, FFSL faced a number of petroleum on settlement days, especially when there is a sustained rise or fall in stock prices. The major ones included the following: * Clients exceeded their limits with active cooperation from trading assistants/supervisors. * Clients issued cheques which bounced back later on
* Delivery slips not handed over in case of dematerialized stocks * Clients simply disappeared for a while, whenever they took a long position in a particular scrip-only to surface when the price is up. Robin singh brought these problems to the notice of the management and suggested the following steps: * Clearly define the roles and responsibilities of trading assistants and supervisors * Assess the net worth of a client carefully before enrolling him as a member. set trading limits clearly and circulate these to assistants daily * On the settlement day, ask the clients to pay or square up *...
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