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The Challenges Of Secretaries Working In Financial Houses

(A Case Study Of First Bank Of Nigeria Plc, Enugu Main Branch)

5 Chapters
|
82 Pages
|
9,000 Words

Secretaries operating within financial institutions face a myriad of intricate challenges stemming from the dynamic nature of the financial sector. Amidst the demanding environment characterized by fast-paced transactions and stringent regulatory frameworks, these professionals encounter pressures to maintain meticulous records, ensure compliance with ever-evolving regulations, and manage diverse administrative tasks efficiently. Their responsibilities often extend to coordinating meetings, managing correspondence, and facilitating communication among various stakeholders. Additionally, they must navigate the complexities of financial jargon and technology platforms while upholding confidentiality and discretion in handling sensitive information. Balancing these demands requires adept organizational skills, adaptability to changing priorities, and a keen understanding of financial operations. Moreover, the emergence of digital advancements necessitates continuous learning to leverage technology effectively, enhancing productivity while mitigating risks associated with cybersecurity threats. In this dynamic landscape, secretaries in financial institutions play a vital role in sustaining operational efficiency and supporting the seamless functioning of critical financial processes, underscoring the significance of their contributions amidst the intricate challenges they encounter.

ABSTRACT

This study investigated the challenges of secretaries in model financial houses.
The theoretical frame work for this study was provided by the review of related literature.
Research questions were designed and questionnaires prepared to enable the researcher collect enough data as regards the study.
Information were sought through secondary sources such as textbooks, journals, lecture notes etc. were used in data collection and the researcher made use of all the secretaries as the population of the study.
The finding of the research work were presented in tabular form and analysed using simple percentages.
The researcher came up with the following findings, that secretaries.
1. Lack necessary office equipment that will enable them perform effective and creditably.
2. Are not properly compensated for the big job they perform.
3. Suffers low social status arising from low acceptance in the society.
4. Are not often sent on training as done to other personnel in other profession.
5. Lack good working condition.
In view of the above, recommendations are thus given to improve the prevailing challenges of secretaries in model financial houses.

TABLE OF CONTENT

Title Page
Approval Page
Acknowledgment
Dedication
Abstract
Table Of Content

Chapter One
1.0 Introduction
1.1 Background Of The Study:
1.2 Statement Of The Problem:
1.3 Purpose Of The Study
1.4 The Significance Of The Study
1.5 Scope/Limitation Of The Study
1.6 Research Questions

Chapter Two
2.0 Review Of Literature
2.1 Who Is Secretary
2.2 Types Of Secretaries
2.2.1 Confidential Secretary
2.2.2 Permanent Secretary
2.2.3 Company Secretary:
2.2.4 Private/Personal Secretary
2.2.5 Bilingual Secretary
2.3 The Role Of Secretaries
2.4 The Need For Secretaries
2.5 Qualification And Qualities Of Secretaries
2.5.1 Qualification Of A Secretary
2.5.2 Qualities Of Secretaries
Personal Qualities
Professional Qualities:
2.6 Problems Encountered By Secretarial Students In Tertiary Institutions
Late Admission Of Students
Lack Of Modern Office Equipment
Shortage Of Relevant Text Books
Poorly Equipped Lecturers
Frequent Strikes By Either Lecturers Of Students
2.7 Challenges/Problems Encountered By Practicing Secretaries On Model Financial Houses
Poor Remuneration
Poor Working Condition/Environment
Lack Of Modern Office Equipment
The Secretaries Fate Towards The Rapid Changing Technological Innovation.
The Social Status Of A Secretary
2.8 Psychological Challenges

Chapter Three
3.0 Research Methodology And Design
3.2 Area Of The Study
3.3 Population Of The Study
3.4 Sampling Techniques
3.5 Method Of Data Collection:
3.5.1 Primary Sources Of Data
3.5.2 Secondary Sources Of Data
3.5.3 Questionnaire Design
3.5.4 Questionnaire Administration
3.6 Method Of Data Analysis

Chapter Four
4.0 Data Presentation And Analysis
4.1 Returned Questionnaire
4.2 Research Questions:

Chapter Five
5.0 Summary Of Findings, Conclusion And Recommendations
5.1 Introduction
b. Summary Of Findings
5.3 Conclusion
5.4 Recommendations
5.5 Suggestions For Further Study
References
Completion Of Questionnaire
Research Questionnaire

CHAPTER ONE

INTRODUCTION
1.1 BACKGROUND OF THE STUDY:
The work of secretaries in an organization is very vital and there is no way an organization can function well without their aid. The fast production of efficient work is assured since they are well trained in that line.
Whenever paper work, records and mostly written communication are needed in an organization the secretaries are likely to be involved. In as much as secretaries have been undermined by the general public in many ways, the general conception is usually that any employee who sits behind a typewriter and does other forms of secretarial jobs is a secretary; therefore regarding them as typists or mere servants. It is therefore pertinent to start by knowing exactly who a secretary is, before going to the challenges facing them.
A secretary is an employment in an office who deals with correspondence, keeps records, makes arrangement and appointments for a particular member of the staff. He/she is the one who combines or has the mastering skills of shorthand and type writing and with a sound knowledge of secretarial duties.
A secretary is defined by the National Association secretaries in United States of America “as a executive assistant who posses mastery of office skills, who demonstrates ability to assume responsibilities without direct supervisor who exercises initiatives and judgment, and who makes decision with in the scope of assigned authority”.
Office skills include typewriting, shorthand ability to operate photocopying machine, duplicating machines, cope with filings, do reception duties. Furthermore, a good secretary needs also to have accumulated enough knowledge about commercial work in general and this implications, on secretary is deemed to be genius.
A secretary in other words is a person employed in an office to care of correspondence/ records and in addition keep the day to day engagement of his/her executive in line with various demands.
Based on these factors, one can now say that a secretary is an indispensable factor in any office or organization.
A secretary has out-standing qualities – she understands the principles of keeping secrets, being polite to customers, callers and visitors, no matter how highly or lowly the visitors may be placed.
She appreciates the aims or goals of the organization in office or business, and conscientious works towards the achievement of the goals, together with the boss and other staff.
The secretary working in an industry should know all about the place. She should know the products, how they are produced, how raw materials are obtained, how the machinery works, how and where the spare parts are obtained, know managers and their individual assignments, other management staff, and indeed, the policy of the whole organization.
A good secretary is always alert, she reads newspapers, listens to News on electronic media and even to other people as they discuss. This is because, she might get useful information with minimum delay for the smooth running of the organization. Other attributes of a good secretary include tactfulness, self-control, neatness, politeness, ability to work without grumbling memory and pleasant speaking, services of a secretary are indispensable in every establishment. But, this fact notwithstanding, secretaries complain of one form of maltreatment or another from their employers in the course of carrying out their duties.
In spite of the important roles which secretaries play in organizations. Nigeria secretaries are still faced with a lot challenges and this paper or research will address these challenges.

1.2 STATEMENT OF THE PROBLEM:
The secretarial profession has become overwhelming indispensable in all spheres of life in recent times, but unfortunately the profession is higher and adequate recognition in financial houses.
Many people have this false notion that only never do wells enter the profession. Secretaries are most times misunderstood and misplaced, therefore they relegate to the background by many bosses as a result they are placed in their rightful positions.
This research work is aimed at finding out the challenges facing the secretaries and paving a way to gaining the attention for the secretarial profession by making both financial houses and secretaries to be aware of their positions as they work hand by hand.

1.3 PURPOSE OF THE STUDY
The main purpose of this research is to identify the challenges of secretaries in model financial houses. Specifically the study seeks to:
1. Identify who the secretaries are in an organization.
2. investigate whether secretaries are sent on training to improve their skills.
3. ascertain whether secretaries are properly remunerated.
4. to find out if today’s secretaries are able to manipulate modern office machines and equipment in our model offices.
5. to determine how the secretaries relate with their bosses.

1.4 THE SIGNIFICANCE OF THE STUDY
Any study carried out must have some significance and it is strongly believed that this study when completed will be of immense benefit to all groups of people in the society.
For one thing, this study will identify the challenges of secretarial, help their employers to have a clear view of their problems and their device means of motivating their secretaries so as to enhance productivity. It will also help the manages to know what relationship that should exist between them and their secretaries.
Again, it will be beneficial to the secretaries themselves to enhance their prospects, if they adhere to the recommendations set out by this study. It will serve as an inspiration to secretaries Nigeria having known their problems and ways of averting them.
It will also have as a frame work in improving the ways, status, and working conditions of the secretaries in Nigeria.
However, this project will serve as an indicator to employers so as to know how to treat their secretaries, know the working environments that will be best for maximum efficiency and productivity of secretarial work and the entire work of the organization and improve on their business in general.
Finally, the research will provide an up-to-date data of secretarial challenges for future researchers to look at in their studies.

1.5 SCOPE/LIMITATION OF THE STUDY
This study focuses on the challenges facing secretaries in model financial houses first Bank Plc, Enugu (main branch) is specifically used for the study.
The researcher encountered some problems that delayed the completion of the project on time. Chief among these problems was lack of materials.
Most of the resource materials at hand were quite irrelevant to the topic of research because not much has been written by people on this topic from where enough materials would have been collected to help more in writing up the literature review.
Time was also a problem to the researcher. Research work of this nature requires much time for collection of valid information and other relevant materials to make this study, due to the fact that is being conducted at a time when the researcher was preparing for her final examinations.
The researcher was also constrained by finance, which also affected the depth of coverage of the variables researched.

1.6 RESEARCH QUESTIONS
This study is undertaken to provide answers to the following research questions;
(1) What role does a secretary lay in model offices?
(2) How are secretaries remunerated in model financial houses.
(3) To what extent re secretaries so on training to improve their skills.
(4) To what extent are today’s secretary able to manipulate modern office machines and equipment in model financial houses?
(5) What are the relationships between the secretary and her boss?

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Challenges Of Secretaries Working In Financial Houses:

Secretaries working in financial houses face a unique set of challenges due to the fast-paced, regulated, and demanding nature of the financial industry. These challenges can vary depending on the specific role and the organization, but some common challenges include:

  1. High Workload: Financial houses are often characterized by heavy workloads and tight deadlines. Secretaries may be responsible for managing multiple tasks simultaneously, including scheduling meetings, handling paperwork, and assisting with financial reports.
  2. Regulatory Compliance: The financial industry is highly regulated, and secretaries may need to stay up-to-date with complex financial regulations and compliance requirements. Ensuring that all documentation and communication adhere to these regulations is crucial and can be challenging.
  3. Confidentiality: Financial institutions handle sensitive and confidential information. Secretaries must maintain strict confidentiality and security protocols to protect sensitive financial data and client information.
  4. Technological Challenges: Keeping up with rapidly evolving technology in the financial sector can be a challenge. Secretaries may need to use specialized software, manage complex financial databases, and adapt to new technology platforms.
  5. Stress and Pressure: The financial industry can be stressful due to market volatility, high expectations, and the need for accuracy. Secretaries may experience high levels of stress, especially during peak financial seasons.
  6. Multitasking: Secretaries often need to juggle multiple tasks and priorities simultaneously. Prioritizing work efficiently and handling unexpected requests can be challenging.
  7. Communication Skills: Effective communication is crucial in the financial industry. Secretaries must communicate clearly and professionally with clients, colleagues, and superiors, often in high-pressure situations.
  8. Adaptability: The financial industry is subject to rapid changes in regulations, technology, and market conditions. Secretaries need to be adaptable and ready to learn and implement new processes and procedures.
  9. Long Hours: Financial institutions often have long working hours, especially during busy periods like month-end or year-end closing. This can lead to work-life balance issues for secretaries.
  10. Professional Development: Advancement opportunities for secretaries in financial houses can be limited compared to other roles within the industry. Developing a long-term career path may require additional education or certifications.
  11. Team Dynamics: Collaborating with different teams within the financial institution can be challenging, as there may be differing priorities and communication styles. Secretaries may need to navigate these dynamics effectively.
  12. Client Expectations: Financial clients can have high expectations for service and responsiveness. Meeting these expectations while managing other responsibilities can be demanding.

To overcome these challenges, secretaries working in financial houses should prioritize organization, time management, ongoing education, and staying informed about industry developments. Strong communication skills, attention to detail, and the ability to adapt to changing circumstances are also essential for success in this field.