Determination to Excel

Cyril Mohapatra’s proactivity and strategic utilisation have propelled his career to remarkable heights. From grassroots marketing at the outset of his professional journey to navigating the complexities of digital transformation and discussing boardroom strategies, Cyril’s career has been a testament to his unwavering determination to excel in every circumstance. His love for old Bollywood melodies and his ability to sing them speak volumes about his passion. This enthusiasm is propelling him far in the corporate world. Currently holding the position of Senior Vice President and Head of Digital at IndusInd Bank, Cyril shares his inspiring journey in an exclusive interview with Corporate Citizen. Read on to delve into his remarkable story

Corporate Citizen (CC): Tell us a bit about yourself and your corporate journey so far.

Cyril Mohapatra: To begin with, I am from Orissa but I was raised in Mumbai. My family relocated to Mumbai a few decades ago, and it has since become our hometown. My mother tongue is Oriya. I completed my schooling and education in Mumbai. I earned my Diploma in computer programming from KC College and later pursued my MBA in Finance from Symbiosis.

My career commenced with ICICI Bank in 1999, and over the years, I’ve been associated with several prominent institutions, including Kotak, Yes bank, Prizm Payments, Euronet, among others. After spending a considerable amount of time abroad, I have been with IndusInd Bank for the last one and a half years. My professional journey has primarily revolved around the digital transformation landscape, encompassing both business and solution perspectives. It has been an exhilarating journey that continues to unfold.

At the IndusInd Bank, I am working as the Senior Vice President and Head of Digital, and I lead the digital solutions delivery group across various verticals. This includes overseeing digital channels, platforms for individual and SME segments, as well as engagement platforms. With over 23 years of successful, progressive experience in digital banking, transformation, retail banking, and ITES services, I am passionate about crafting and executing digital strategies that elevate customer satisfaction, operational efficiency, and overall business growth.

CC: They say that the place you are born in helps in shaping your mindset. Do you agree?

Absolutely! Growing up in a vibrant city like Mumbai shaped my childhood. While Mumbai holds a special place in my heart and will continue to do so, I consider myself fortunate to have explored various cities throughout my career. For about two and a half years, I worked in Chennai, gaining valuable experience. Additionally, my career led me to different countries, including Dubai and Indonesia, where I embarked on projects for weeks at a time, which surely broadened my horizons. I’ve also had professional stints in Bahrain and spent four and a half years working in Oman. Currently, I have been working in Gurgaon for almost one and a half years.

Each city I’ve worked in has its distinct character and charm. Mumbai, being familiar with the back of my hand, will always have a special place. However, my career has granted me the opportunity to savour the diverse flavours of various cities and countries. It’s a journey that adds richness and depth to both my professional and personal experiences.

CC: How has the education that you have garnered helped you in your corporate journey?

Education indeed plays a pivotal role in shaping one’s life. In today’s scenario, with numerous institutions providing easily accessible education, the landscape has evolved significantly. Reflecting on my educational journey, I had the privilege of complementing my theoretical knowledge with practical experience. During my 10th standard, an aptitude test suggested a path in Mechanical Engineering, yet I found myself pursuing Commerce.

Embracing the hues of life: Coming from a middle- class background, the prospect of obtaining an MBA from a prestigious institutions seemed financially unattainable. Consequently, I ventured into the workforce immediately after completing my graduation, taking on the role of a credit card salesperson on the streets. I engaged in part-time jobs with marketing agencies, participating in promotional activities for renowned brands. These experiences, such as conducting surveys in colleges, not only provided me with valuable exposure but also instilled in me the confidence to engage with people.

Being inherently sociable, I relished interacting with new individuals regularly. This interpersonal skill set proved to be a valuable asset. When I joined ICICI, the fortuitous exposure to digital transformation opened up new avenues. We delved into the intricacies, maintained our foundational knowledge, and adapted to the evolving landscape.

My journey underscores the importance of continuous adaptation to changes in our surroundings. I firmly believe that no job is inherently good or bad; its value lies in how one approaches and embraces it. Over the years, I embraced experimentation, willingly taking on diverse portfolios across various organizations. This willingness to explore and adapt has been instrumental in shaping my current position and career trajectory.

Hands on experience: Working for a marketing agency and being involved in diverse campaigns like promoting low-cost apartments for Evershine Constructions, conducting surveys for Bosh and Long’s contactless lenses, creating wedding card promotions for Zee Cinema’s “Hum Aapke Hain Koun,” and dressing up as cartoon characters for the launch of Cartoon Network in India, reflects a dynamic and innovative era in advertising.

The ground-level engagement, such as distributing pamphlets at railway stations, conducting surveys in colleges, and dressing as cartoons, not only contributed to the success of the campaigns, but also provided valuable experiences and a chance to interact with diverse groups of people. It’s impressive how these initiatives not only generated income but also laid the foundation for building a strong network.

This emphasises the importance of hands-on experiences, networking, and adaptability. The transition from selling cards for Zee Cinema to landing a job at ICICI through the same agency turned recruiter, highlights the interconnected nature of professional journeys. These diverse experiences, despite their challenges, played a fundamental role in shaping your resilience and thorough understanding of the field.

"The ability to keep pace with global transformations and willingly embrace change is crucial to staying relevant in today’s dynamic world. Remaining static or resistant to change can render one obsolete"

CC: What’s the best piece of corporate advice you have received?

There have always been people who played a significant role in my journey. One individual, a colleague from my time at my earlier job, consistently emphasised the importance of creating and building my network. The value of networking cannot be overstated, and it has been a piece of advice that has resonated throughout my career.

Another valuable lesson I learned was not to be discouraged by setbacks or failures in my work. The insight here is that even in moments of failure, there is an opportunity to learn and grow. Mistakes are part of the learning process, and dwelling on them is counterproductive. It’s crucial to embrace challenges with a mindset geared toward continuous improvement.

Creating an impact: In addition to these guiding principles, other mentors in my career offered valuable insights, particularly in the realm of creating effective presentations for management. I learned that a successful presentation is not just about information delivery; it’s about crafting a narrative that engages and tells a compelling story.

I consider myself fortunate to have worked alongside some of the brightest minds in the country—my colleagues who have consistently supported and guided me throughout my career. Today, I prioritise spending more time on LinkedIn rather than on platforms like Facebook and Instagram. This shift in focus aligns with the advice I often share with students and those starting their careers. Effectively utilising LinkedIn can be a powerful tool for professional growth and networking, opening doors to diverse opportunities.

CC: Tell us about this term called turnaround specialist, something that you are familiar with.

When we talk about a turnaround, it can manifest in various forms—whether it’s a process overhaul, an experiential transformation, a cost-saving initiative, or other multifaceted changes. The essence lies in how expertly, efficiently, and swiftly one can instigate change. This is particularly challenging in organisations where change management is inherently difficult. Whether it involves altering mindsets, updating legacy technology, or restructuring processes, the endeavour is akin to building an entirely new company.

A turnaround specialist is someone who excels in navigating these complexities, steering a legacy organisation toward a transformative trajectory. The key lies not only in possessing knowledge and experience but also in deploying exceptional interpersonal skills. Simply enforcing change may yield short-term results, but sustained success requires active collaboration, understanding, and empathy.

Effective change: Effectively managing a turnaround involves walking alongside the people involved, immersing oneself in problem areas, understanding the intricacies, and collaboratively defining and implementing solutions cost-effectively. The goal is not merely to introduce change but to do so with agility, effectiveness, and efficiency. It’s about avoiding unnecessary complexity, such as introducing expensive technologies when they may not align with the organisation’s immediate needs. In essence, a turnaround specialist is defined by their ability to bring about change rapidly, effectively, and in a manner that aligns with the organisation’s goals and context.

"Even in moments of failure, there is an opportunity to learn and grow. Mistakes are part of the learning process, and dwelling on them is counterproductive. It’s crucial to embrace challenges with a mindset geared toward continuous improvement"

CC: So, the ones born in the 80s and the 90s were at the cusp of the digital transformation. They have literally seen digital technology boom and grow. How do you see that transformation?

Adapting to the evolving landscape has been a key aspect for professionals who have witnessed the changes from the 80s, 90s, and early 2000s. The ability to keep pace with global transformations and willingly embrace change is crucial to staying relevant in today’s dynamic world. Remaining static or resistant to change can render one obsolete.

The importance of continuous learning and adaptation resonates strongly. The rapid evolution of technology and business practices demands a proactive approach to acquiring new knowledge and skills. Being open to learning is a mindset that has served you well, allowing you to successfully navigate and manage various situations and conditions.

Staying agile: My journey from being unfamiliar with NPR and mobile banking a few years ago to seamlessly incorporating these concepts into my work today reflects the essence of continuous learning. It underscores my capacity to maintain an open mind, embrace change, and shape myself to meet the demands of the ever-evolving professional landscape.

Keeping abreast to global developments and staying informed about industry trends is a strategic approach that undoubtedly aids in day-to-day planning and execution. This continuous engagement with the broader context not only enriches my understanding but also enhances my ability to formulate effective strategies. In a rapidly changing world, your commitment to ongoing learning and awareness positions you well for continued success.

CC: What about AI, ML and other technologies? How are you incorporating it?

We are already incorporating it. I want to highlight the role of AI and ML in credit decisions. ML, in particular, significantly contributes to enhancing credit decision processes, while AI plays a crucial role in cost reduction strategies. Our predictive analysis incorporates these technologies, aligning with the industry’s prevailing trends.

Evolving continuously: It’s noteworthy that many institutions and organisations grapple with finding the right balance in leveraging AI and ML, given the ongoing evolution and the need for continuous learning. AI’s efficacy is closely tied to the volume and quality of data it processes, leading to a growing emphasis on centralisation, such as the adoption of Enterprise Data Warehouses (EDW) by numerous organisations. This centralised data approach facilitates the implementation of AI-driven technologies and solutions.

The journey in this domain is marked by continuous evolution, and the notion of reaching a point where one can say, “I’ve achieved this, and now I’m done”, is unrealistic. The nature of AI and ML ensures that it’s an ongoing learning process. As technology advances and data insights deepen, our strategies and solutions will need to adapt in tandem. This continual evolution is inherent in our approach, ensuring that we stay at the forefront of industry advancements.

"Effectively managing a turnaround involves walking alongside the people involved, immersing oneself in problem areas, understanding the intricacies, and collaboratively defining and implementing solutions cost-effectively"

CC: How is digital technology helping this segment to give the customers the best experience?

A few years ago, the customer-facing channels— ATMs, call centres, mobile banking, and Internet banking—operated independently, leading to a lack of connectivity. Customers interacted with channels rather than the institution or bank as a whole, resulting in a fragmented experience. Net banking beneficiaries differed from those in mobile banking, and transaction statuses weren’t consistent across various channels. This isolation was a source of significant customer dissatisfaction.

Holistic experience: To address this issue, creating a unified experience, often referred to as an Omni channel experience, became imperative. Achieving this required substantial investments from the bank. Today, this unified experience has evolved, allowing customers to transact on channels of their preference rather than being directed to specific channels.

This advancement is the result of meticulous consideration regarding the ease of the customer journey, the unity of the experience, the security of transactions, and the overall convenience provided. The culmination of these factors contributes to implementing a best-in-class customer experience, leveraging traditional technologies to enhance customer interactions.

CC: Why has it become so important for the generation right now to be more present on LinkedIn?

LinkedIn is an effective tool for staying informed and connected. It eliminates the need to purchase books or enroll in online courses, providing a centralised hub for a wealth of reading material. This platform brings together best-in-class professionals, allowing you to read blogs, understand experiences, and engage in global conversations.

During the Covid pandemic, I began writing blogs and received valuable comments from a diverse audience. LinkedIn is more than just a social platform; it’s a career tool. In contrast to popular platforms like Instagram and Facebook, I find myself dedicating significant time to LinkedIn. I use it to stay updated on my colleagues’ successes, comment on their achievements, and engage with their content. It’s a space where I share insights through speaking engagements, seminars, and conferences, while also gaining knowledge from others. Ultimately, LinkedIn serves as a powerful tool for networking, career development, and continuous learning.

CC: Share a few tips to use LinkedIn effectively.

Certainly, based on my experience, here are some tips that I believe can help propel individuals in their journey.

• Share your insights on topics that interest you.
• Explore profiles and groups related to your areas of interest; for instance, if you’re keen on understanding payments, join relevant groups.
• Actively participate by asking questions and reaching out to experts in the field for clarifications. Stay engaged and be part of discussions on blogs and forums.
• Utilise LinkedIn Learning, where numerous free courses are available.
• Take advantage of these courses to enhance your knowledge and skills.
• Stay proactive and make the most of the learning opportunities the platform offers.

CC: With your tight work schedule, when you find time, what do you do with it?

Well, finding time for my passions is a bit unpredictable, but whenever the opportunity arises, I indulge in things I love. I’m passionate about singing, and I also enjoy playing tennis. Travelling is another love of mine, and I try to visit new places at least once a month. However, a significant portion of my free time is dedicated to singing.

I particularly enjoy singing old Hindi songs. Back in my corporate life, during team gatherings, we used to organise karaoke sessions. I have fond memories of Yes Bank, where even my boss and her husband shared a love for singing. We would gather our teams, book an auditorium, and bring in professional musicians for these sessions. It was a great way to bond and have fun. Engaging in activities like these not only removed any stage fright but also instilled a sense of fearlessness.

I’ve been involved in singing and dance shows since my college days, so being on stage has never been intimidating for me. It’s an aspect of my life that brings immense joy and a sense of fulfilment.