INTERNSHIP REPORT shinhan vietnam finance company limited

The process of foundation and development of Shinhan Vietnam Finance Company Limited...1 1.1.3.. Introduction about Sales Department Internship Department...7 PART 2: INTRODUCTION OF INT

TABLE OF CONTENTS

LIST OF ABBREVIATIONS ii

LIST OF TABLES AND FIGURE iii

ACKNOWLEDGEMENT iv

Part 1: OVERVIEW OF SHINHAN VIETNAM FINANCE COMPANY LTD1 1.1 The introduction of Shinhan Vietnam Finance Company Ltd 1

1.1.1 General introduction of Shinhan Vietnam Finance Company Ltd 1

1.1.2 The process of foundation and development of Shinhan Vietnam Finance Company Limited 1

1.1.3 Vision, mission and core value 3

1.2 Organization chart 4

1.3 Annual revenue (2017-2020) 5

1.4 Main product 6

1.5 Introduction about Sales Department (Internship Department) 7

PART 2: INTRODUCTION OF INTERNSHIP PROCESS IN SHINHAN VIETNAM FINANCE COMPANY LTD 8

2.1 The tasks in internship process 8

2.2 Difficulties and lessons 10

2.2.1 Difficulties 10

2.2.2 Lessons 10

PART 3: THE REALITY IN USING OF ENGLISH AT SHINHAN VIETNAM FINANCE COMPANY LIMITED 11

3.1 The use of English in SVFC 11

3.2 Some solutions to improve the use of English in the working environment………… 12

PART 4: SUGGESTION FOR THE SUBJECT OF GRADUATION THESIS…… 13

CONCLUSION 14

i

LIST OF ABBREVIATIONS

Company

Công ty tài chính Shinhan

Việt Nam

ii

LIST OF TABLES AND FIGURE

Image 1.1 Logo of Shinhan Vietnam Finance Company Limited 2

Diagram 1.1 SVFC’s Organizational structure 5

Table 1.1 Annual revenue (2017-2020) 6

Table 2.1 Tasks given in the internship process 9

iii

The well developed and smoothly operated financial market plays a major important role in the growth and efficiency of a country In 2020, Vietnam has garnered international praise for its swift and effective response to the COVID-19 outbreak The issue of Vietnam Briefing Magazine, titled “Assessing Vietnam’s Economic Prospects for Foreign Investors After COVID-19”, stated that: the Asian Development Bank still forecasts Vietnam to be one of the fastest growing economies in Southeast Asia while the World Bank observes that Vietnam’s economy is resilient in the COVID-19 pandemic

Shinhan Vietnam Finance Company Ltd (previously known as Prudential Vietnam Finance Company) is also a company operating in this field with the main business are personal loan and auto loan

Being recommended and allowed by English Faculty – Thuong Mai University, I gratefully experienced as a trainee in the Sales Department of Shinhan Vietnam Finance Company Ltd After nearly one months (from 1/1/2021 to 22/01/2021), under the valuable support and instruction of Sales Management, Leader team, staffs and other trainees in the company, I was able to apply my obtained knowledge at university into practice, meanwhile gaining basic information to complete my internship report

I would like to express my gratitude toward lecturers at the Faculty of English – Thuong Mai University as well as my managers and colleagues in Pioneer Textile and Garment Company Limited I look forward to receiving comments and suggestions of the lecturers in order to complete my paper perfectly

Hanoi, January 21th, 2021

Student Nguyen Thi Hong Van

iv

Part 1: OVERVIEW OF SHINHAN VIETNAM FINANCE COMPANY LTD

1.1 The introduction of Shinhan Vietnam Finance Company Ltd.

1.1.1 General introduction of Shinhan Vietnam Finance Company Ltd.

Name: Shinhan Vietnam Finance Company Limited

Date of establishment: July 2019

Head office address: Floor 23rd, Saigon Trade Center, 37 Ton Duc Thang, Ben Nghe ward, District 1, Ho Chi Minh city, Viet Nam

A few of Transaction office addresses (Ha Noi only):

1 Starlake transaction office

Address: TM 2-13, 2nd Floor, Building 903, H9-Ct1 Building, Co Nhue I Ward, Bac Tu Liem District, Ha Noi

2 My Dinh Transaction Office

Address: Lot 136, Tt3 - Sudico My Dinh - Me Tri, My Dinh 1 Ward, Nam Tu Liem District, Ha Noi

3 Pham Hung Branch

Address: 1st and 2nd Floor, Keangnam Hanoi Building, Me Tri Ward, Nam

Tu Liem District, Ha Noi

Tax code: 0304946247

Tel: (84-28) 39 113 666

Fax : (84-28) 39 101 642

Email : dvkh@shinhanfinance.com.vn

Website: https://www.shinhanfinance.com.vn/

1.1.2 The process of foundation and development of Shinhan Vietnam Finance Company Limited

Shinhan Financial Group (South Korea) – a fully foreign owned consumer finance company owns Shinhan Card, one of the leading credit card businesses in Korea (RoK) On July 2019 Shinhan Card officially announced the opening of its consumer finance company in Vietnam, Shinhan Vietnam Finance Company Ltd (SVFC), formerly Prudential Finance Shinhan Finance also announced the launch

of a new brand identity and slogan

Image 1.1 Logo of Shinhan Vietnam Finance Company Limited

Source: https://www.shinhanfinance.com.vn/

Symbol and Logo:

Global Scale

A leap towards becoming a global integrated financial services brand representing Korea in the global era The color scheme is intended to render an image of a globalized financial firm challenging the world with vision and confidence

The dove and sprout, which were the major elements of the previous CI, have been reinterpreted to better suit the 21st century sentiment and are symbols of hope for a bright

Future path

A drive to march endlessly towards growth

With Shinhan Card’s know-how in financial products and more than 14-years-experience of the Company in Vietnam consumer lending market, Shinhan Finance

is considered one of the best customer-oriented Finance Companies in Vietnam

In term of legal entity, being one of Shinhan Financial Group's independent subsidiaries in Vietnam same as Shinhan Bank, Shinhan Securities and Shinhan Digital Solution, meanwhile Shinhan Finance will continue to operate separately as usual in Vietnam, each independent subsidiary is obligated to share necessary reports to the Country Head appointed by Head of Global Business Group of Shinhan Financial Group

1.1.3 Vision, mission and core value

- Vision: "World Class Financial Group"

Shinhan Finance is values-based organizations who share a passion for initiating changes and an intense focus on customer satisfaction and employee/colleague success While the details have be determined as a part of the transition process, the new company will continue to embody that same spirit with new experience, new value, creating exciting opportunities for employees/colleagues and delivering on our shared goals to bring a broader, richer

set of content, solutions, and next-generation products across industries to our customers In light with this, Shinhan Finance Vision is to be customers’ companion with world-class products and services in order to provide solutions to their lifestyle needs and aspirations needs

- Mission:

+ For customers: Shinhan Finance mission is to do Good to the World with the Power of Finance (compassionate Finance) The reason for being is striving to do good to our customers and the society through every touch-point with Shinhan Finance Shinhan Finance regard their customers as their companions for mutual success and therefore do their best for customer value creation and protection + For employees: Building a professional and creative working environment Having sharing and recognition Serving customers dedicated and having opportunities to promote

+ For the community: Harmonizing corporate interests with social benefits; Contribute actively to community-oriented activities Fulfilling its obligations to the state, paying all taxes in accordance with current regulations Obeying state regulations on environmental protection, national security and labor safety

- Core values: Shinhan Finance core values are foundational to their culture and include:

+ Customer oriented;

+ Mutual Respect;

+ Initiating change;

+ Towards the best;

+ Ownership

1.2 Organization chart

Shinhan Vietnam Finance Company Ltd organizational structure can be illustrated as below:

Diagram 1.1 SVFC’s Organizational structure

Total number of employees: SVFC employs more than 500 fulltime

employees, 5,000 Sales agents and outsourcing staffs across Vietnam

1.3 Annual revenue (2017-2020)

Annual revenue (2017-2019): Prudential Vietnam Financial Inc; (2019-2020):

Shinhan Vietnam Financial Ltd

Head of Sales and Distribution

Head of Sales and Distribution

Telesales

Telesales HCM Telesales Hanoi

TopUp

Feet-on-street sales (FoSt)

Feet-on-street sales (FoSt)

FoS North FoS Central FoS Central

FoS South

Sales strategy

Sales Scheme

and Promotion

Sales Scheme

and Promotion Sales MIS and Sales MIS and AnalysisAnalysis

Sales training

and Engagement

Sales training

and Engagement

Sales Training Development

Sales Training Development Sales Training Sales Training DeliveryDelivery

Sales Engagement

Sales Engagement Sales Talent Sales Talent AcquisitonAcquisiton

Distribution service

Distribution service

Administration

Service

Administration

Service Incentives and Incentives and BonusBonus

Sales

Disciplinary

Sales

Disciplinary

2017 2018 2019 2020

26.27

Annual revenue (2017-2020)

Year

Table 1.1 Annual revenue (2017-2020)

(Source:https://www.prudential.com.vn/vi/tim-hieu-ve-prudential-viet-nam/bao-cao-tai-chinh/ and Accounting Department of SVFC)

From the above figures, it is clear that revenues and profits of SVFC increase

in each other In 2018, sales revenue reached over VND 27.6 billion This figures for 2019 were slight down to 27.54 billion We can see that there was a noticeable increasing in the sales revenue in 2020 compared with the previous years with 3%

in the sales revenue

This was the time when SVFC officially take over Prudential’s business This growth was mainly thanks to such reasons as followed: effort of all employees, the right direction of the company and the continuous improvement of the quality of products and services This results also indicates an optimistic outlook on the operation of the company in the future

1.4 Main product

- My Loan

Loan limit: 12 times customer’s salary

Interest rate: 0,8 – 1,8%

- Big Loan

Loan limit: 10000000 - 300000000 VND

Interest rate: 0,8%

- Easy Loan

Loan limit: 10000000 - 300000000 VND

Interest rate: 0,8%

For sure that SVFC will continue to develop products as it is doing today The company will also look at opportunities to take advantage of the combined strengths resulting from this deal aiming to better products and service in the near future

1.5 Introduction about Sales Department (Internship Department)

Sales Department is the advisory and assisting department for the Director on the sales of products and services of the company Besides, it makes the research and product development, market development, construction and customers’ relationship development In SVFC, this department takes responsible for:

- Implementing strategies, target and work plans of the division each month for submission to the Director for approval

- Finding, developing new customers belonging to the target group of the company Searching for customers to make investment, contribute capital in joint ventures, associates according to the plan and development strategy of the company

- Maintain and develop relationships with customers Customer care is according to the company’s policy

- Build processes and regulations related to the products and sales of products and services of the company

PART 2: INTRODUCTION OF INTERNSHIP PROCESS IN SHINHAN

VIETNAM FINANCE COMPANY LTD

2.1 The tasks in internship process

During the internship process in Shinhan Vietnam Finance Company Ltd, I was assigned to intern in Sales Department, this is a great opportunity for me to experience in a dynamic working environment, broaden my mind, learn and familiarize myself in multiple skills Shinhan Vietnam Finance Company Ltd is a financial company for financial products Potential customers is mainly found through telephone, website, so when I became a sales intern, I did activities such as: Search for customers, call for consultation, receive legal papers, appoint customers, draft contract, monitor signing contract process, track payment process, care customer after sale, Specific work as follows:

+ Find potential customers through data given The data directed will be mainly in industrial zones across the country Sales manager will assign industrial zones to every Team Leader and Sales staffs will then find for potential customers (my team is mainly responsible for the North area)

+ The phone number and information found will be listed in company’s data

of each computer, and the daily task is to call to research the needs of the customers, then sell the Loan to customers

+ When a customer wants an amount of loan, the sales staff will ask for customer’s address, company name, salary tables, etc and then continuing support customer via media site like Zalo, Facebook for more information

+ All the requested data will be entered into a management software of the company so that the sales manager as well as the general director can know the information of the customer needs

The following table gives some detail information about my work in three weeks that I have completed:

Week Given tasks Expected results

1 (only

2

days)

- Learning about the company’s

regulations

- Do tests, I must pass all 3 tests in order

to be a finance intern

- Making the acquaintance of the others

in the department and working

environment

- Visiting the assignment and instructions

of the guide

- Reading materials or documents of the

company

- Adapting myself to the new working environment

- Having good instructions

to work effectively

- Understanding the company’s background, its missions, its work and my responsibilities

2

- Learning how to find potential

customers on e-commerce channels, on

advertisement on website

- Translate the instruction documents (I

learn more by looking other documents

about company on the Internet and many

specific documents of Sales Department)

- Adapting to the company’s web, main

server and company app (they are all in

English language)

- Summarizing the internship

- Having more knowledge about finance contracts and know to research

customers on e-commerce channels or via their friends/families/colleagues

Table 2.1 Tasks given in the internship process

At first, I lack my experience and I find myself scared of calling and talking to customers I spend my free time learning information and things I would say when I

am mouth-to-mouth with customers I also watch my co-workers a lot and imitate how they talking to customer through the phone My supervisor said theory only accounts about 50% when I know all about the work but I can’t communicate clearly, I have to practice talking more and more So after one week I finally get used to the work pace and know all the processes I have to do

2.2 Difficulties and lessons

2.2.1 Difficulties

During my internship at SVFC, I encountered some following difficulties:

- The ability to apply theory in practice is limited, which is lead to some problems that I still have not handled quickly