Jayant Prakash (PFM 2003-05) is working with Ernst & Young’s Government Advisory Practice in India as Director and focuses on MSME sector transformation. In his current role, he is responsible for Business planning, Performance improvement, Team management, Risk control, Monitoring, Revenue planning, and collections.
Earlier, he has been associated with organizations like IL&FS clusters, EDA Rural Systems, and TARAhaat and was fortunate to get learning opportunities in areas such as public policy, agriculture value chain, enterprise promotion, community institutionalization, skill development, and many such interesting facets of the development field. Jayant is a generalist and an avid learner and beyond work subjects of his interest include human behavior, psychology, and spirituality.
Social Media:
Twitter: JayantPrakash3
LinkedIn: https://www.linkedin.com/in/jayant-prakash-24b91bb/
Q. How has been your journey from IIFM to this role?
A. The journey after IIFM has been exciting and quite enriching, more sort of a roller coaster ride. The campus recruitment process offered me a position with TARAhaat, where I got to work on the establishment of ICT-based kiosks for public services in the states of Punjab, Haryana, and Rajasthan. I was very fortunate to work with amazing colleagues and the best of supervisors who inculcated a sense of professionalism, camaraderie, and commitment in my working life.
This led to another fun-filled assignment in Bihar with EDA rural systems where I got to learn nuances of micro-enterprises development and had firsthand exposure to realities pertaining to access to financial market development, and yes, client management. By God’s grace, I again got a battery of very supportive and knowledgeable colleagues and mentors through which I could imbibe learnings across the projects at the firm level.
The peekaboo with micro-enterprises at EDA helped me to land at IL&FS later, which turned out to be a great milestone in my career path. Besides, the corporate way of working, I came across phenomenal leadership which not only shaped my thought process but metamorphosed my vision of the development approach itself. It provided me opportunities to interact and deal with a unique blend of stakeholders including community, corporate, multilateral, government, and above all “boss”.
The small love story with “Government and Governance” started in IL&FS upreared with my joining at Ernst and Young and as a devout lover, I dedicate a ‘significant’ portion of my life to it. Now, having spent a decade with EY in various roles from consultant to Director, the journey is continuing. The best part is I still get ample opportunities to learn, challenge, and prove myself and when I fail, someone says ‘Happens, will see it next time.
Q. What were some of the key milestones/learning in this journey that you would like to share with us?
A. Rather I would like to share the ‘best things’ that have happened to me during my journey so far. When now I think about it, I realize the ‘connecting the dots’ story. The remarkable one was a complete lull of banking services recruitment during 2002 which forced me to search for alternate avenues. The next best thing was a suggestion of a well-wisher to apply for IIFM which not only provided quality education but also a stipend during the course. The next best thing was my decision to prefer IIFM over some of the other B-schools. Another best thing meeting gem of the friends and seniors in IIFM who always extended helping hands. The others are my joining IL&FS and EY successively and getting immense learning opportunities there. The one best thing that keeps happening repeatedly throughout my career is continuous failures, which drove me to enhance my efforts time and again and improve on my weaknesses. Another one may be the providential chance to meet with the best of the supervisors and colleagues during the course of my journey which provided lifelong lessons and kept me grounded and humble.
Q. What is the most satisfying part of your current role?
A. In my current role, I am part of the group, which is entrusted with laying roads (not literally) towards the next decade of survival for the team. It is a great responsibility as many lives and futures of people who are part of the larger family depends on our efficiency of working. We got to look at the major disruptions that may become stumbling blocks in the time to come. We need to draw from years of experience yet require keeping our thoughts tender, young and fresh. These uncertainties filled with excitement keep me agile and inspired for innovations and out of box thinking.
Q. Has your learning at IIFM helped in shaping how you approach your professional roles?
A. It was a great learning stint at IIFM. Some of it came from within the boundaries of the classes and a great deal of it from outside the classes. The curriculum and academics appropriately introduced us to the basic concepts, the faculty rightly oriented us for social sector programs, and the field visits and organizational training components ingrained requisite sensitivities crucial for dealing with the development programs. I got a lot to learn personally from being in a coterie of mavericks and exceptional personalities known as “5277” – a group to whose knowledge and wisdom, I will always be indebted.
Q.Who (or what) are the biggest influences or drivers in your career? What would be your advice to freshers and IIFM graduates who are looking to choose similar sectors/roles?
A. I feel that a person’s value system and aspirations are the major drivers in his/her career. There are personalities and influences aligned to our value system which inspire us to achieve bigger things in life. There are many from among the IIFM fraternity who have influenced my career choices and actions in past, I think naming a few would be disrespectful to others. Rather, I would take this opportunity to bow to each one of our respected faculty members and my seniors/peers/juniors who taught me, guided me, helped me to reach wherever I am today. Not advising but yes, I would like to share a few learnings I had which may be of some help to freshers:
· There is no substitute for hard work and knowledge, be used to it
· Never underestimate the power of fools
· Where the reach of talent ends, the power of connecting begins. Foster relationships based on mutual trust and respect
· Money and technology are the two biggest friends. Keep allegiance to them
· Learn to listen to your teachers otherwise your boss will not listen to you
· Invest in yourself and respect your time
Q. What are your favorite memories during your IIFM days?
A. The two years of campus life at IIFM were the most happening part of my life. A lot of fond memories and lifelong lessons which I will cherish throughout my life. Some specific ones:
· Bamboosa parties
· Late night Badminton practice sessions
· Live commentary during cricket matches
· Dusre hostel ka Mitha Pani
· Canteen ki Chai and Maggie
· Gossips with special friends at stairs outside the library
And, many many more specialties of that part of life …..
Q. In hindsight, what was the biggest contribution (courses, faculty, library, friends, and alumni. Anything else!!) or take away from IIFM that you think played a critical role in shaping you as an individual or professional?
A. IIFM provides best of the ecosystem for exploring your potential. If you are driven for social change, it provides you enough ammunition to fire throughout life. The academics is comprehensive including all crucial components. I think topics on communication, IT, Financial management, Quantitative analysis, Project management, Strategy, People and organization management, etc. are all relevant across the workstreams. It has a rich library and a very good collection of journals which helps you explore more into your interest area. The institute has a very very strong trust-based relationship with the alumni network and faculty at large which provides requisite guidance and help at crucial times. To highlight it with my personal experience and to express gratitude, I would like to mention the guidance I received at a juncture of dilemma from Prof. CS Rathore Sir, which helped me to make the right decision and saved me from falling into an abyss. Similarly, I am indebted to Biplav Chatterjee Sir and Shakeb Nabi Sir for their innumerable advice and support. Where do you get teachers and seniors who treat you as family members? In short, I think IIFM has an invaluable contribution in shaping my career and life as a whole and I will always owe it to the institution.
Q. The best friends/seniors/faculty at IIFM? Some memorable tidbits that you like to share.
A. It used to be a much smaller batch size then of 30 odd people so a large family feel prevailed upon all of us. The seniors and juniors used to party together, share their thoughts and fears and help each other during times of need. Within our batch, we were a bunch of buddies known as “5277”. In fact, we drew this name from a Maruti gypsy or Tata Sumo, the number of vehicle groups used during the initial field visit to Dehradun. All leftovers were packed together, so they fought and cursed each other during the whole trip but ultimately became a gang. The whole batch was full of idiosyncrasies and weird behavior. There was an engineer who wanted to research about forestry. There was a guy with a robotic laugh. There was one whose questions were always longer than the answers. One was always in panic and firefighting mode. A few had left jobs to join this course and worrying now about the next job. A few were saints who used to bother nothing except “old monk”. The youngest guy in the batch had a crush on the oldest gal of the batch to the extent that he decided to embroil with her best friend. Some bright engineers were aspiring and conspiring for their micro-finance jobs. Some ladies were busy praying to god and throwing nutritious food to stray dogs, of course after taking care of other important things in life. And, then above this, the super-chilled and super talented senior batch followed by the coolest junior batch, with sizzling tadka of two batches of MRM aficionados in between. Uff! What extra in the hell anyone can wish for. The stories are endless and so was the fun then.
Q. As an alumnus, what is your advice to freshers or those who are joining IIFM to get the best out of the 2 years there?
A. I think this is a repeat question here. As I have already given some Gyan earlier, would try to add a few more to it:
· Keep yourself updated on the latest development in the area of your choice and equip with the best of the requisite skills
· Communication is key to success. Invest in your writing and oratory skills
· Focus on building basic concepts for various management aspects
· Never ignore the value of fun, it can help you to sail through the most difficult phase
· Make friends at IIFM, you will get enough competitors outside
Q. What is your typical day at the office?
A. It is never the same; Sometimes it is lean, and I enjoy myself during those days. Many times, it is tightly packed with client and internal meetings, planning sessions, team calls, management reviews and revenue discussions, solution brainstorming etc. In nutshell, neither too hectic nor very relaxing, pretty much like life.
Q. And how about weekends, Hobbies, Family and anything else you want to add
A. Weekends are generally reserved for family time, calls to friends and relatives, unless there is some compelling need at the work front. In my free time, I enjoy reading books mostly non-fiction.
Q. Favorite Books, movies, authors.
A. The list is long but few to name here which you may also find interesting: Human Nature by Robert Green; The rise and fall of nations by Ruchir Sharma;
The Power of your subconscious mind by Joseph Murphy and likewise. No specific choices for movies or authors.
Q. IIFM is driven by alumni’s passion and commitments towards its goal. How would you like to contribute to IIFM or IIFM alumni, students?
A. I am committed to contributing to the best of my capabilities in whatever way the Institute expects me to do. It would be my pleasure if I can help in any way.
Q. What do you think is different at IIFM now vs when you studied there? What do you think is a positive change and what is not?
A. The number of students is an obvious change that I can notice now. The students are exploring new avenues for employment which is a very positive development. An increasing number of IIFM alumni are venturing into start-ups. All these are positive signs. I think we will have continued to adhere to the high standards of academic and professional excellence.
Q. Any suggestions on who you want to get profiled/interviewed here?
A. IIFM alumni hold top positions in many of the areas of work, be it Consultancy, Corporate social responsibility (CSR), Corporate sustainability, microfinance, and related aspects, Procurement, trading, etc. Better would be if we can get them interviewed and listen to their views on how to make IIFM offer better-prepared professionals in their domain of working. From my batch, a few have already been interviewed. I would love to hear from Animesh Anand, Ajith S., Rashmi Singh, Jagjeet Singh Sareen, Kanishk Negi, and Puneet Dwivedi. It would be good to interview Amit Vatsyayan, Vijay Ganpathy, Biplav Chatterjee, Bharti Joshi, Pankaj Lal, and likewise from senior batches.