Soumen Bag
Banker, Financial Inclusion, Payments, Sustainable development
Kolkata
Summary
A driven, dedicated and reliable individual, who strives for constant learning. Having good track record of growth in professional domain, from managing business of a single district during starting of career, to driving business across 7 States. Possessing Leadership qualities, thereby motivating and mentoring teams, while driving high-volume business across dynamic situations. Highly adaptable, therefore able to guide business teams during times of change or crisis. Approach any challenge with solutions having a 360-degree viewpoint. Not only I rely on data and feedback for business development, but also get my hands dirty, during groundwork and implementation. I have accomplishments in driving key performance indicators and sales, to achieve budgeted goals.
Overview
3
3
Languages
1
1
Certification
16
16
years of post-secondary education
7
7
years of professional experience
Work History
Regional Manager (Grade- Chief Manager)
IDFC First Bank
04.2023 - Current
- Managing Business Correspondent Network of East and North East of India, comprising of 7 states – West Bengal, Bihar, Jharkhand, Odisha, Assam, Tripura, Manipur
- Highest Performing Region in terms of Gross Transaction Volume (400 Crores INR)
- Mentoring and leading a team of 3 State Managers, and 23 Bankers/Relationship Managers of average 5 years vintage
- Starting and nurturing new network of BC Sakhis in Nagaland, through govt tie-up with Nagaland State Rural Livelihood Mission
- Pilot and generating demand of FD-backed secured credit cards, worth Rs 1.5 crores, in rural market. Highest number of units sold across Pan-India in FY 23-24
- Responsible for business from a network of 3483 BC Agents
- Nurturing stakeholder relationships with State Rural Livelihood Missions (Jeevika, Jharkhand SLPS, Manipur SRLM).
- Collaborated with Product Development teams to enhance overall offerings to meet market demands.
Cluster Manager (Grade- Chief Manager)
IDFC First Bank
04.2022 - 03.2023
- Retail Banking business through digital based alternate channel comprising of Individual and Corporate Business Correspondents in Madhya Pradesh, Chhattisgarh and Mumbai
- Leading 9 Relationship Managers, and 2000+ Business correspondents
- Achieved 200 -250 INR Crores of Gross Transaction Volume
- Reporting to National Head
- Capacity building and Promotion of 8 team members to next level, during my tenure
- Initiating first-of-its kind model of cash collection in IDFC First Bank, from Toll Plazas through Business correspondent channel
- Collaborating with BIHAN-Chhattisgarh State Rural Livelihood Mission, for enrolling members of SHGs in Chhattisgarh as Banking correspondent/Agent
- 400+ such female BCs currently working and earning sustainable livelihood.
- Identified potential risks through proactive monitoring, before escalation occurred. Less than 1% escalations to senior management.
Cluster Manager (Grade- Senior Manager)
IDFC First Bank
04.2020 - 04.2022
- Responsible for Driving Retail Banking business through digital based alternate channel comprising of Individual and Corporate Business Correspondents in Madhya Pradesh
- Serving over 5 Lacs of customers across Madhya Pradesh during challenging times of Covid pandemic through Business correspondents, while upholding all Covid norms and regulations
- Leading a team of 5 District Coordinators and 1500+ Business correspondents
- Achieved 200 -250 INR Crores of Gross Transaction Volume monthly, and got awarded for Highest Volume of IMPS in FY 21-22.
- Reporting to National Head and coordinating with intra-bank departments to ensure proper implementation of digital solutions at BC points in remote rural areas
- Onboarded pan-india MFI clients, and nurtured stakeholder relationship, for collection of MFI branch deposits through banking kiosks (contributed average monthly collection of 10 crores INR through BC kiosks across pan-India).
- Established strong relationships with corporate BCs, through regular meetings, reports, and presentations on cluster progress.
State Manager (Grade- Manager)
IDFC First Bank
10.2018 - 04.2020
- Responsible for Driving Retail Banking business through digital based alternate channel comprising of Individual and Corporate Business Correspondents in Tripura State
- Leading a team of 4 District Coordinators and 200+ Business correspondents for acquiring maximum CASA portfolio and interchange
- Installed and grew a network of 50 Business Correspondents in a span of 3 months and spear-headed the CASA portfolio of Tripura to all time highest of 3.75 crores in month of January 2020.
- Reporting to Regional Head
- Handling digital transactions of 1Crore daily and analyzing using MS Excel for deriving actionable dashboards to increase daily business
- Responsible for customer relationship and providing services to 1500+ rural and urban clients
- Collaborated with North-East Rural Livelihood Project (NERLP), a World Bank Funded project for starting a network of Bank-Sakhis, by enrolling members of NERLP SHGs in 3 districts of Tripura
- This is the first Government body tie-up in Tripura with IDFC First Bank.
Area Manager
Bharat Financial Inclusion Ltd
04.2017 - 09.2018
- Responsible for overall business development of an area comprising of 10 branches which was Rs 100 crore loan outstanding portfolio and driving it to achieve a Rs 5 crore growth in 6 months, by consistently hitting business goals by 80-85 %.
- Managed 11 branches
- Rs 115 crore loan outstanding portfolio during last held position
- Ensuring daily loan disbursement targets are achieved and 100 percent repayment daily, with data-driven focus on arrear loans
- Reporting to Regional manager
- Communicating all policy related changes to branches
- Coordinating with other departments like Audit, IT, FUL, Training, HR and accounts to allocate resources effectively
- Implementing and monitoring of existing and new processes at field level
- Leading a team of 88 staff in 2 units comprising of Field staff, branch managers, branch credit managers and 2 Unit managers for 6 months. Last managed 3 units comprising of 11 branches and 104 Staff
- Re-distribution of work-load, by new hiring in branches through conducting recruitment drives
- Motivated under-performing individuals through targeted training and capacity building
- Responsible for increasing the client base by more than 3000, from 62234 to 65264
- Last handed an area having a client base of 72461
- Successfully disbursing 52 Two-wheeler loans from January to March which was the highest among all areas in Bihar state, by collaborating with local Hero Moto-corps dealer.
Education
Post Graduate Diploma in Forest Management - Development Management
Indian Institute of Forest Management
04.2001 - 04.2017
B.Tech - Mechanical Engineering
Jalpaiguri Government Engineering College
Higher Secondary - undefined
Ramakrishna Mission Vidyalaya Narendrapur
Secondary -
Ramakrishna Mission Vidyalaya Narendrapur
Skills
Leadership & People Management
Change Management
Banking (Core Banking System)
Digital Payments
Channel Management
Business Development
Business Intelligence
Data Analytics
Sustainable Livelihood
Microfinance-Financial Inclusion
Data management
Rural Market & Rural Sales
Supply Chain Management for cash
Crisis Management
Client assessment and analysis
Team Development
Process implementation
Budgeting
Business Communication, Writing, and documentation
MS Office
Adobe photoshop
Data Analysis using R & Python
Certification
Indian Institute of Management, Raipur, Executive Program in Data Analytics, R and Python, 2019
Personal Information
- Father's Name: Pabitra Kumar Bag
- Mother's Name: Pratima Bag
- Date of Birth: 18th November 1992
- Gender: Male
- Pronoun - He/Him
Timeline
Regional Manager (Grade- Chief Manager)
IDFC First Bank
04.2023 - Current
Cluster Manager (Grade- Chief Manager)
IDFC First Bank
04.2022 - 03.2023
Cluster Manager (Grade- Senior Manager)
IDFC First Bank
04.2020 - 04.2022
State Manager (Grade- Manager)
IDFC First Bank
10.2018 - 04.2020
Area Manager
Bharat Financial Inclusion Ltd
04.2017 - 09.2018
Post Graduate Diploma in Forest Management - Development Management
Indian Institute of Forest Management
04.2001 - 04.2017
Secondary -
Ramakrishna Mission Vidyalaya Narendrapur
Higher Secondary - undefined
Ramakrishna Mission Vidyalaya Narendrapur
B.Tech - Mechanical Engineering
Jalpaiguri Government Engineering College