Ashish is part of credit team at Kaleidofin where he primarily undertakes due diligence of partner NBFCs and also executes securitization transactions. Over the last 15 years he has worked primarily in microfinance sector with experience in retail, advisory, lender and fintech.
Linkedin : linkedin.com/in/ashish-verma
Q. How has been your journey from IIFM so far?
A. So far journey has been quite enriching and satisfying. I started my career with ICICI Bank. However, one year into the bank, I realized that I need to switch to core microfinance. With guidance and help from seniors-Mr Avijit Kishore and Mr Akhand Tiwari, I got into core microfinance. Sonata finance was my first venture in microfinance. At Sonata I got to know more about practical aspects of managing a microfinance operation, team management, handling crisis situations etc.
Post Sonata I joined Access Development Service where I was engaged in providing advisory services and implementing various government (and multilateral agencies) program related to financial inclusion.
Post ADS, joined EY where I significantly improved my presentation and writing skills again thanks to our alumni Mr Jayant Prakash.
Then I joined Ananya Finance and came back to microfinance sector. Did appraisals of several small and medium sized MFIs. Currently, at Kaleidofin, I have broadened my horizon with assessment of normal NBFCs and also undertaking securitization transactions.
Q. What were some of the key milestones/learning in this journey that you would like to share with us?
A. I completed my engineering in 2002 and like other engineering graduates was struggling to get a good job in line with the economic conditions then. Hence, the first and foremost milestone for me was getting in IIFM. It’s not only a great institution but also an affordable one with monthly stipend during our time. Post IIFM, every job was a key milestone as they offered me new avenues of learning. I believe that there are many more learning opportunities that I still need to explore.
Q. What is the most satisfying part in your career?
A. For most part of my career, I have been in wholesale lending to MFIs/NBFCs. Most satisfying part is to see the partner grow slowly along with the credit getting delivered to the deserving poor. Many a times poor families have gained from microfinance and elevated their status of living and that’s very satisfying to see.
Q. Has your learning at IIFM helped in shaping how you approach your professional roles?
A. As an institution, IIFM has played the most pivotal part in shaping me as a professional. IIFM provided me with the necessary theoretical and practical experience I needed. The curriculum not only provides the experience but also helps learn practical aspects like adherence to deadlines, presenting, studying in groups during assignments, understanding field realities during internships etc.
Q. Who (or what) are the biggest influences or drivers in your careers? What would be your advice to freshers and IIFM graduates who are looking to choose similar sectors/roles?
A. Apart from my family it is the IIFM ecosystem i.e Professors, seniors, classmates & juniors who have helped me a lot.
I will advise the juniors to not only build their knowledge but also focus extensively on communication skills (speaking, writing, presenting, and interacting). This will go a long way in helping in all the courses, Internships and Placements in IIFM apart from future professional life.
Q. What are your favorite memories during your IIFM days?
A. So many memories that it’s impossible to list down still shall try. During initial days was anticipating some sort of ragging however it was just healthy intro sessions which was fun. Hostel, mess, classrooms, CC etc the entire infrastructure is so mesmerizing that I always feel like staying there forever!! I always remember the birthday parties, enjoying at Sakshi dhaba, enjoying maggi (and samosa) at canteen, drinks with Varun at MP Nagar, having chicken at Hakeem, field trip at Himachal, internships with Himanshu and PD etc etc… simply uncountable memories.
As a batch, we have made a habit of going back to IIFM every year since passing out for our annual reunion in the week of 15 August. We stay for 2-3 days and interact with all faculties as well as staffs and engage with both the batches of students in an Open house just to exchange thoughts and ideas. Thankfully it has happened ever year except 2020 when campus was closed for COVID so it is our way of giving back from where it all started 15 years ago….
Q. In hindsight, what was the biggest contribution (courses, faculty, library, friends, alumni.. Anything else!!) or take away from IIFM that you think played a critical role in shaping you as an individual or professional?
A. I would say the entire ecosystem of IIFM has been biggest contributor, guidance provider to me at each and every step of my professional life.
Q. The best buddies / seniors /faculty at IIFM? Some memorable tidbits that you like to share?
A. While all the faculties have been of great guidance, we are closest to Biswas Sir. I personally enjoyed class of CSR Sir the most. Among buddies all the batchmates especially Varun, Malik, Rishi, Abhishek Kar (dada), Harsh, Kumar, Himanshu, Debu, Kunal, Tarvinder, Trayee, PD, Suraj, Satya, Tariq, Sharad, Sreekant, Varuna, Saurabh, Rajiv Singh, Chinmay, Tirkey to name a few. Among juniors: Anurag and Vaibhav. Among seniors: Avijt Sir, Akhand Sir, Abhishek Anand Sir, Shyam Sir, Jayant Sir.
Q. As an alumni, what’s your advice to freshers or those are joining IIFM to get best out of the 2 years there?
A. Have right Attitude towards life. There would be many successes, challenges and failures in life. Don’t get overconfident when you succeed and don’t get depressed during failures. Help others as you might need same one day.
Have good connect with seniors as well as friends. Whenever you get stuck in your career, it is mostly the seniors who would come to your rescue. Ask seniors who have established themselves in their respective fields for some guest lectures, interactions & internship so that you get to spend time with them and learn with real practical knowledge.
Study hard and enjoy harder. Two years at IIFM are perhaps your golden period which would not come back. Believe me after passing out of IIFM key memories would be of fun you did in IIFM.
Q. What was your typical day at the work? And how does it look like while you are on a break?
A. Currently, my company has been kind to allow WFH. Hence, while the office starts at 9.30am, there is no closing time. If work is there, then the weekend automatically becomes working. Nearly 50% of my time goes on travelling. During the official trips it gets real busy as the day starts at 8.30 am (or earlier) and closes by 9.00pm. All internal meetings/interactions are teams hence the sound of teams calling has become more like my mobile ringtone now!!
Q. And how about weekends, hobbies, family and anything else you want to add?
A. Weekends are mostly for my family. Have been lucky to have my Saturdays off. Hence, it’s going out, enjoying at home during weekends. Also Saturday is a time reserved for any house-work like repairs, banking etc. Apart from this, while I enjoy movies especially at cinema halls, not been there much especially post COVID.
Q. Favorite Books, movies, authors?
A. Not much of an avid book reader still I enjoyed some books like rich dad-poor dad, psychology of money, Accidental prime Minister. Among movies: Comedy ones like Andaz Apna Apna, Hera Pheri, Munnabhai MBBS.
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? Your engagement with IIFM Placement or OT/SI?
A. I would be happy to contribute in what little manner I can. In the past I have been there for placements & OTs a couple of times. Hopefully may come for more in future.
Q. What do you think is different at IIFM now vs when you studied there?
A. Since I am not very much aware of curriculum now, hence cannot answer this question.
Q. Any suggestions on who you want to get profiled/interviewed here?
A. I believe every IIFM’ite has established himself/herself well in his/her respective organization. Each and every interview is quite interesting to read. Still would suggest names of Rishi Prakash, Satyajit Das, Ashutosh, Varun, Shreekant, Akhand Sir, Veenal Mam to name just a few.