Share Your Work Experience Form
Name: Khalid Siraj
Organization: Retired (World Bank, 25 years, PICIC, Pakistan, 13 years and consultant, 7 years)
Designation: Operations Advise (last position in World Bank) and Senior Adviser, Ministry of Finance (Pakistan) and State Bank of Pakistan
Work Experience (in years): 45 yrs
Industry: Banking/ Financial Institution
Expertise: Primary expertise: Financial and private sector development including legal, regulatory and policy reforms, institutional restructuring/realignment, incentive framework for sustainable and inclusive financial and private sector development. Secondary expertise: Specialized financial institutions (especially, development banks)) and enhancing access to finance to support to private sector.
Q. What to expect at the entrant level? (Ups and downs during the early years)
Being already retired, this question is not much relevant in my case. However, looking back, in my filed one could expect an initial period of hard work, adjustment to business and organizational environment and constant self-learning. Solid growth that comes from individual performance is more rewarding in the long rum than switching jobs for short term attractive financial gains.
Q. Explain the Career progress that is typical to this field? (Growth pattern/ promotion chances/ overseas placements)
Growth and career development opportunities in my field of work were reasonable but not certain. During my initial career in Pakistan I had rapid promotions within 13 years, from an entry-level officer to head of the largest department. It was due to the fact that PICIC was a relatively new and growing organization. However, at the World Bank, the growth was much slower but steady. There were ample opportunities for overseas assignments at the World Bank, but I deliberately preferred to work at the headquarter.
Q. What pre requisite courses need to taken to help students to enter this career path? (Courses/ certifications that help in this field)
1. Finance and banking
2. Macro and monetary economics
Q. Do employers have a preference for certain individuals? (CGPA or a specialized Bachelors or masters requirement)
For recruitment at the entry level (the Young Professional Program), World Bank looks for candidates with impressive academic record and some relevant experience. World Bank also recruits at the higher professional level and for this the requirements include a record of outstanding relevant professional work/experience. There is no preference for any particular degree/certificate, but priority is given to women and candidate from less represented countries/regions (e.g., Sub-Sahara Africa, Japan). Unfortunately, Pakistan is considered as one of the over-represented countries as is India, USA, UK. I would not comment on PICIC, my first employer because it does not exist any more.
Q. Who are the industry leaders and trend setters in this field? (Companies that need to be looked out for)
World bank is the leader in this field but there are other international organizations impacting trends. They include Asian Development Bank (ADB), Inter-American Development Bank (IADB), European Investment Bank (EIB), United Nations development Program (UNDP) and European Bank for Reconstruction & Development (EBRD).
Q. Any advise that you can offer to current students?
1. Aim at best academic achievement.
2. Focus on learning rather than rapid growth. If you master what you are expected to do, recognition and growth will come, sooner or later.
3. Nothing is guaranteed but, also, nothing is beyond your reach.
4. In terms of the choice of employer there is a trade off between relatively smaller and larger organizations. Smaller organizations provide much better growth prospects,
but risk of institutional failure is high. Larger organizations, on the other hand, are more sustainable but career growth is likely to be much more modest.
5. Select an organization that is sustainable in terms of its role, markets and commercial feasibility.
