Top jobs from Ikya

A Leading IT & BPO Services Firm Director BFSI Operation 15-18+Yrs Chennai divya@ikyaglobal.com A Leading IT & BPO Services Firm Director Finance - IB Operations 15-18+Yrs Hyderabad divya@ikyaglobal.com

A Leading IT & BPO Services Firm GM F&A 13-15+yrs Chennai/Hyderabad divya@ikyaglobal.com

A Leading IT & BPO Services Firm GM FP&A 13-15+yrs Hyderabad divya@ikyaglobal.com

A Leading IT & BPO Services Firm GM Product Control 13-15+yrs Hyderabad divya@ikyaglobal.com

A Leading IT & BPO Services Firm SDM Quality Blackbelt - Process Consulting 8+yrs Chennai ashag@ikyaglobal.com

A Leading IT & BPO Services Firm SDM Insurance Operations P&C 8+yrs Chennai maria@ikyaglobal.com

A Leading product online Firm AR Manager - Cash Application, Collections 7+yrs Hyderabad arunbg@ikyaglobal.com

A Leading product online Firm AVP Accounts Payable 10-12+yrs Hyderabad arunbg@ikyaglobal.com

A leading Captive Center Manager Recruitment - IT (Lateral & Leadership) 10+yrs Hyderabad maria@ikyaglobal.com

A leading BPO AVP L&D 10-15yrs Bangalore maria@ikyaglobal.com

A Leading Financial Services firm Manager Business Operations (Business Intelligence & Analytics), Only Tier I & Tier II Institutes 6-10years Mumbai sharada@ikyaglobal.com

A Leading Financial Services firm Sr Manager Admin (well versed with Konkani language) 6-10years Goa sharada@ikyaglobal.com

A Leading Financial Services firm Manager Finance Reporting (CA / MBA) 6-10years Bangalore sharada@ikyaglobal.com A Leading Financial Services firm Manager Procurement - IT & Telecom 8-12 years Bangalore sharada@ikyaglobal.com

A Leading Financial Services firm Manager Operations Mortgage 6-10years Bangalore sharada@ikyaglobal.com

A leading Investment Bank Manager / AVP / VP / Corporate Legal (BFSI Domain) 2-12 years Mumbai sharada@ikyaglobal.com A leading audit & Consulting firm Consultant / Sr. Cosnultant / Engagement Manager Consulting (need people from FMCG / Telecom sector doing brand management & product lauching 2-12 years Mumbai sharada@ikyaglobal.com

A leading audit & Consulting firm Assistant Manager Internal Audit & Risk Management (ICWA / CA ) 4-8 years Baharain sharada@ikyaglobal.com A leading audit & Consulting firm Deputy Manager Internal Audit & Risk Management (ICWA / CA) 4-8 years Baharain sharada@ikyaglobal.com A leading audit & Consulting firm Manager External Audit (ICWA / CA) 4-8 years Baharain sharada@ikyaglobal.com

A leading audit & Consulting firm Sr. Associate Internal Audit & Risk Management (ICWA / CA) 4-8 years Baharain sharada@ikyaglobal.com A Management Consulting Firm Principal Consultant (Tier I institutes only) should have worked on BD / projects / industry studies in Education space 4-10 years Mumbai sharada@ikyaglobal.com A leading Investment Bank Vice President / Director Product Control 12-15 years Pune sharada@ikyaglobal.com A Leading Investment Bank Quantitative Analyst (data management, model implementation or fraud / risk detection) 3 - 9 years Gurgaon sharada@ikyaglobal.com

A Leading Investment Bank Quality Assurance & Software Testing Analyst 3 - 9 years Gurgaon sharada@ikyaglobal.com

A leading Investment Bank Analyst/Assistant Manager ETL Developer Analytics (• 2+ years within the field of ETL Development. Knowledge and understanding of financial services preferred) 3 - 11 years Gurgaon sharada@ikyaglobal.com

A leading Investment Bank Product Analytics ( 3+ year of proven statistical analysis or equivalent. Knowledge and understanding of financial services preferred) 3 - 9 years Gurgaon sharada@ikyaglobal.com

A Leading Captive Banking Bpo Manager Ops Risk - F&A / FP&A 8-10 years Gurgaon pallavi@ikyaglobal.com

A Leading Captive Banking Bpo Sr Manager Ops Risk - Home Loan & Insurance 8-10 years Mmbai pallavi@ikyaglobal.com

A Leading Captive Banking Bpo TL / AM Fianncial Reporting (CA / ICWA / CIMA / & Igaap / US Gaap / UK Gaap / Irish Gaap) 4-12 years Pune pallavi@ikyaglobal.com

A Leading Captive Banking Bpo Global Mobility Consultant (Expat Mgmt / onsite employee mgmt) 3-5 years Pune pallavi@ikyaglobal.com

A Leading Captive Banking Bpo OTC Pricing Valuation Analyst 1-2 years Pune pallavi@ikyaglobal.com A Leading Captive Banking Bpo AVP HR Business Partner 7-12 years Pune pallavi@ikyaglobal.com

A Leading Captive Banking Bpo Manager / Senior Manager HR Business Partner (8 to 12 years) 8-12 years Pune pallavi@ikyaglobal.com

A Leading Captive Banking Bpo Manager Training (Investment Banking / Capital Market process training) 8-12 years Pune pallavi@ikyaglobal.com A leading Investment Bank VP Product Control 8-12 years Mumbai pallavi@ikyaglobal.com

A leading Investment Bank Director Product Control 12-16 years Mumbai pallavi@ikyaglobal.com

A Leading Captive Banking Bpo Structured Trade Review - TL (trade review for exotic / structured products) 4+ years Hyderabad pallavi@ikyaglobal.com

A Leading Captive Banking Bpo Structured Trade Review - Manager (trade review for exotic / structured products) 8+ years Hyderabad pallavi@ikyaglobal.com A Leading Captive Banking Bpo AM Datawarehousing & Reporting (SAS Base & SQL & UNIX) 4+ years Gurgaon pallavi@ikyaglobal.com

A Leading Captive Banking Bpo First Year Analyst & Analyst - CA / CFA / MBA good institutes / IIT Graduates freshers 1-3 years Mumbai pallavi@ikyaglobal.com

A Leading IT & BPO firm GM R2R 12+ Noida mita@coachieveindia.com

A Leading IT & BPO firm GM Intercompany 12+ Noida mita@coachieveindia.com

A Leading IT & BPO firm GM Insurance Ops 12+ Mumbai mita@coachieveindia.com A Leading IT & BPO firm VP Insurance Ops 15+ Mumbai mita@coachieveindia.com

A Leading IT & BPO firm VP Domestic BPO Sales 15+ Mumbai mita@coachieveindia.com

A Leading IT & BPO firm DGM Healthcare Ops 10+ Pune mita@coachieveindia.com

A Leading IT & BPO firm GM HRO Ops 12+ Bangalore mita@coachieveindia.com

A Leading IT & BPO firm GM Process Training (F&A) 12+ Bangalore mita@coachieveindia.com

A Leading Online Player Sr. Business Analyst 5yrs to 7yrs Chennai indrani@ikyaglobal.com

A Leading Online Player (SQL Data Analysis) A Leading KPO firm Engagement Manager 7yrs to 12yrs Bangalore ayesha@ikyaglobal.com

A Leading Captive Banking Bpo AVP (Campaign Management & Statistical Modeling) 9Yrs to 13yrs Bangalore Shivika@ikyaglobal.com

A Leading IT & BPO firm FP&A 5yrs to 7yrs Bangalore Shivika@ikyaglobal.com

A Leading IT & BPO firm Sr. Business Analyst / Lead 3yrs to 6yrs Bangalore indrani@ikyaglobal.com A Leading IT & BPO firm (BCP, Incident Management, Risk & Compliance)

A Leading Captive Banking Bpo AVP/VP - Master Black Belts 10-15years Bangalore/Chennai/Hyderbad prithiv@ikyaglobal.com

A Leading Captive Banking Bpo VP Projects & Programs ( IT Transformation projects) - Bschool 10-15 years Bangalore prithiv@ikyaglobal.com

A leading Investment Bank VP Recruitment ( leadership) 10-15 years Bangalore vijay@ikyaglobal.com A Leading Online Player Sr Manager HR BP 8-12 years Chennai/Hyderabad/Bangalore vijay@ikyaglobal.com

A leading Investment Bank Vp L&D 10-15 years Bangalore vijay@ikyaglobal.com

A Leading Online Player L&D Specialist 1-3 years Chennai vijay@ikyaglobal.com

A Leading Captive Banking BPO AVP Recruitment - Analytics 8-12 years Bangalore vijay@ikyaglobal.com

Top jobs from Ikya

1 A Leading Financial Services firm Manager Business Operations (Business Intelligence & Analytics), Only Tier I & Tier II Institutes 6-10years Mumbai sharada@ikyaglobal.com

2 A Leading Financial Services firm Sr Manager Admin (well versed with Konkani language) 6-10years Goa sharada@ikyaglobal.com

3 A Leading Financial Services firm Manager Finance Reporting (CA / MBA) 6-10years Banaglore sharada@ikyaglobal.com

4 A Leading Financial Services firm Manager Procurement - IT & Telecom 8-12 years Banaglore sharada@ikyaglobal.com

5 A Leading Financial Services firm Manager Operations Mortgage 6-10years Bangalore sharada@ikyaglobal.com

6 A leading Investment Bank Manager / AVP / VP / Corporate Legal (BFSI Domain) 2-12 years Mumbai sharada@ikyaglobal.com

7 A leading audit & Consulting firm Consultant / Sr. Cosnultant / Engagement Manager Consulting (need people from FMCG / Telecom sector doing brand management & product lauching 2-12 years Mumbai sharada@ikyaglobal.com

8 A leading audit & Consulting firm Assistant Manager Internal Audit & Risk Management (ICWA / CA ) 4-8 years Baharain sharada@ikyaglobal.com

9 A leading audit & Consulting firm Deputy Manager Internal Audit & Risk Management (ICWA / CA) 4-8 years Baharain sharada@ikyaglobal.com

10 A leading audit & Consulting firm Manager External Audit (ICWA / CA) 4-8 years Baharain sharada@ikyaglobal.com

11 A leading audit & Consulting firm Sr. Associate Internal Audit & Risk Management (ICWA / CA) 4-8 years Baharain sharada@ikyaglobal.com

12 A Leading Captive Banking Bpo Manager Quality Process Improvement (BB) / AVP Quality (MBB) 4-10 years Hyderabad / Chennai sharada@ikyaglobal.com

13 A Management Consulting Firm Principal Consultant (Tier I institutes only) should have worked on BD / projects / industry studies in Education space 4-10 years Mumbai sharada@ikyaglobal.com

14 A leading Investment Bank Vice President / Director Product Control 12-15 years Pune sharada@ikyaglobal.com

15 A leading Investment Bank Associate Market Risk 0-3 years Mumbai twinkle@ikyaglobal.com

16 A leading Investment Bank Consultant - Quant 0-3 years Mumbai twinkle@ikyaglobal.com

17 A leading Investment Bank Quant Manager 0-3 years Mumbai twinkle@ikyaglobal.com

18 A leading Investment Bank AVP Credit Risk 8-12 years Mumbai twinkle@ikyaglobal.com

19 A Leading Captive Banking Bpo Structured Trade Review - TL (trade review for exotic / structured products) 4+ years Hyderabad pallavi@ikyaglobal.com

20 A Leading Captive Banking Bpo Structured Trade Review - Manager (trade review for exotic / structured products) 8+ years Hyderabad pallavi@ikyaglobal.com

21 A Leading Captive Banking Bpo AM Datawarehousing & Reporting (SAS Base & SQL & UNIX) 4+ years Gurgaon pallavi@ikyaglobal.com

22 A Leading Captive Banking Bpo First Year Analyst & Analyst - CA / CFA / MBA good institutes / IIT Graduates freshers 1-3 years Mumbai pallavi@ikyaglobal.com

23 A Leading Captive Banking Bpo Sr. Manager Incident Management 8-10 years Gurgaon pallavi@ikyaglobal.com 24 A Leading Captive Banking Bpo Manager Quality Process Improvement (GB /BB) 8-12 years Mumbai / Hyderabad pallavi@ikyaglobal.com

25 A Leading Captive Banking Bpo Sr Manager Ops Risk - IB 8-10 years Hyderabad pallavi@ikyglobal.com

26 A Leading Captive Banking Bpo Sr Manager Ops Risk - Home Loan & Insurance 8-10 years Mumbai pallavi@ikyglobal.com

27 A Leading Captive Banking Bpo TL / AM / Manager Fianncial Reporting (CA / ICWA / CIMA / & Igaap / US Gaap / UK Gaap / Irish Gaap) 4-12 years Pune pallavi@ikyglobal.com

28 A Leading Captive Banking Bpo Global Mobility Consultant (Expat Mgmt / onsite employee mgmt) 3-5 years Pune pallavi@ikyglobal.com

29 A Leading Captive Banking Bpo Investment Analyst (Portfolio Mgmt & Risk Mgmt - Asset Mgmt / Investment Bank companies) 3-5 years Pune pallavi@ikyglobal.com

30 A Leading Captive Banking Bpo Risk Analyst (risk reporting for any fund management company) 3-5 years Pune pallavi@ikyglobal.com

31 A Leading Captive Banking Bpo Manager Operations (AML / KYC / Account Setup / Global Client Documentation) 7-10 years Pune pallavi@ikyglobal.com

32 A Leading Captive Banking Bpo HR Business Partner (8 to 12 years) 8-12 years Pune pallavi@ikyglobal.com

33 A Leading Captive Banking Bpo Manager Training (Investment Banking / Capital Market process training) 8-12 years Pune pallavi@ikyglobal.com

34 A Leading Captive Financial Services SDL Transition (9 to 12 years of experience) 9-12 years Noida pallavi@ikyglobal.com

35 A Leading Captive Financial Services SDL Presales 9-12 years Noida pallavi@ikyglobal.com 36 A Leading Captive Banking Bpo AVP-MBB 12-Sep Hyderabad,Chennai Karishma@ikyaglobal.com

37 A Leading Captive Banking Bpo Manager-BB 6-8 Years Hyd,Chennai,Bangalore, Kolkata,Vizag Karishma@ikyaglobal.com

38 A Leading BPO Manager Operations – Tech Support 8+yrs Chennai divya@ikyaglobal.com

39 A Leading BPO Head Training 10-15yrs Chennai maria@ikyaglobal.com

40 A Leading BPO Manager/Sr Manager HR Generalist 8+yrs Chennai ashag@ikyaglobal.com

41 A Leading Online Player Manager -F&A,FP&A,GL Recon with IFRS+US GAAP 8 - 10+yrs Chennai arunbg@ikyaglobal.com

42 A Leading BPO GM Healthcare – Coding experience 12+yrs Chennai divya@ikyaglobal.com

43 A Leading Captive Banking Bpo Sr Analyst – Fund Derivatives Trading (Analytics) – Risk Monitoring/test/VAR – Exceptional Modelling skills 2-5yrs Chennai maria@ikyaglobal.com/divya@ikyaglobal.com

44 A Leading Captive Banking Bpo Manager/AVP Quality – BB/MBB 7-12+yrs Chn/Hybd/Kolkata/B’lore ashag@ikyaglobal.com/divya@ikyaglobal.com

45 A Leading IT & BPO firm DGM F&A Transition 12+yrs Bangalore arunbg@ikyaglobal.com/maria@ikyaglobal.com

46 A Leading IT & BPO firm DGM F&A Solutioning 10+yrs Bangalore arunbg@ikyaglobal.com

47 A Leading IT & BPO firm DGM R2R CA’s 9.6+yrs PQE Bangalore ashag@ikyaglobal.com

48 A Leading IT & BPO firm DGM Taxation CA’s 9.6+yrs PQE Bangalore divya@ikyaglobal.com

49 A Leading IT & BPO firm GM F&A MBA/CA 12+yrs Chennai divya@ikyaglobal.com/arunbg@ikyaglobal.com

50 A Leading IT & BPO firm GM BD Insurance (Bid Mgmt) 13+yrs in Insurance Chennai divya@ikyaglobal.com

51 A Leading IT & BPO firm SDM/DGM/GM Quality – BB/MBB 10 – 15yrs Hyderabad divya@ikyaglobal.com/ashag@ikyaglobal.com

52 A Leading IT & BPO firm GM R2R 12+ Noida mita@coachieveindia.com

53 A Leading IT & BPO firm GM Intercompany 12+ Noida mita@coachieveindia.com

54 A Leading IT & BPO firm GM Insurance Ops 12+ Mumbai mita@coachieveindia.com

55 A Leading IT

& BPO firm VP Insurance Ops 15+ Mumbai mita@coachieveindia.com

56 A Leading IT & BPO firm VP Domestic BPO Sales 15+ Mumbai mita@coachieveindia.com

57 A Leading IT & BPO firm DGM Healthcare Ops 10+ Pune mita@coachieveindia.com

58 A Leading IT & BPO firm GM HRO Ops 12+ Bangalore mita@coachieveindia.com

59 A Leading IT & BPO firm GM Process Training (F&A) 12+ Bangalore mita@coachieveindia.com

60 A Leading Online Player Sr. Business Analyst 5yrs to 7yrs Chennai indrani@ikyaglobal.com

61 A Leading Online Player (SQL Data Analysis)

62 A Leading KPO firm Engagement Manager 7yrs to 12yrs Bangalore ayesha@ikyaglobal.com

63 A Leading Captive Banking Bpo AVP (Campaign Management & Statistical Modeling) 9Yrs to 13yrs Bangalore Shivika@ikyaglobal.com

64 A Leading IT & BPO firm FP&A 5yrs to 7yrs Bangalore Shivika@ikyaglobal.com

65 A Leading IT & BPO firm Sr. Business Analyst / Lead 3yrs to 6yrs Bangalore indrani@ikyaglobal.com

66 A Leading IT & BPO firm (BCP, Incident Management, Risk & Compliance)

67 A Leading Captive Banking Bpo AVP/VP - Master Black Belts 10-15years Bangalore/Chennai/Hyderbad prithiv@ikyaglobal.com

68 A Leading Captive Banking Bpo VP Projects & Programs ( IT Transformation projects) - Bschool 10-15 years Bangalore prithiv@ikyaglobal.com

69 A leading Investment Bank VP Recruitment ( leadership) 10-15 years Bangalore vijay@ikyaglobal.com

70 A Leading Online Player Sr Manager HR BP 8-12 years Chennai/Hyderabad/Bangalore vijay@ikyaglobal.com

71 A leading Investment Bank Vp L&D 10-15 years Bangalore vijay@ikyaglobal.com

72 A Leading Online Player L&D Specialist 1-3 years Chennai vijay@ikyaglobal.com

73 A Leading Captive Banking BPO AVP Recruitment - Analytics 8-12 years Bangalore vijay@ikyaglobal.com

IT, BPO to create 30 mn jobs by 2020: Nasscom

After a tough year that saw the IT & BPO industry cutting back on hiring, software lobby Nasscom has now given a positive forecast for the next decade. Nasscom estimates that the IT & BPO sector will provide direct employment of 10 million and indirect employment of 20 million by 2020.

Nasscom president Som Mittal said, “There has been a 6-fold increase in direct employment. The number of direct employees in 2001 was around 4.3 lakh and now it has zoomed up to 23 lakh in 2010.” Mr Mittal, who was in Chennai for the Nasscom HR summit 2010, added, “The contribution of the private sector in this regard has seen a 3-fold increase. It has grown from 5% in 2001 to 15% in 2005-06.”

By 2020, the industry expects to have around 5 million women employees on its rolls. Currently, the industry has around 37% women employees and around 26% of the female employees are chief wage earners.

Mr Mittal also stressed the need for adopting best practices in the IT-BPO industry and wanted companies to follow rules like ethical hiring, insisting on relieving letters, campus hiring in eighth semester, support reference checks and mandate background checks for all employees.

“This would help the company and employer. It would ensure that the employee serves his/her notice period correctly with the previous employer,” he said. The industry is also looking at discouraging frequent job-hoppers in less than 6 months. “There are some employees who join an organisation undergo the soft skills and product training and quit. They then go and join another company and do the same. This practice should be strictly discouraged,” Mr Mittal pointed out.

In the coming decade, the industry would witness multi-cultural workforce with 15-20% foreign origin. “Employers would look for talent pool with multiple, specialised domain expertise. They would look for talent with value add capability through innovation and analytics,” he said.

IBM Daksh, Aegis, 24/7 Customer eye $500-mn deal

Business process outsourcing firms IBM Daksh, 24/7 Customer and Essar Group’s Aegis are eyeing an outsourcing deal worth $500 million (around Rs 2,330 crore) in West Asia and Africa.

The deal from a leading telecom player in West Asia and Africa will cover the firms entire BPO lifecycle, including managing its call centre, billing process, auditing and training, among others

The telecom player with about a 25-million user base has presence in Kuwait, Indonesia, Malaysia, Turkey and South Africa.

When contacted, an IBM spokesperson refused to comment on the issue. “We do not comment on market speculations,” said a spokesperson from Aegis.

The deal is expected to be finalised by the end of this month and will be one of the largest in the telecom sector in recent times. While the telecom segment has bore the brunt of the recession, analysts are of the view that they have been big IT spenders and will continue to be so.

“If you look at the Middle East and African telecom players, very few have opted for outsourcing their non-core activity. Besides, IT spends among the telecom players will continue to grow in the coming years. Moreover, if you look at the revenue growth of some of the leading global players, it was hardly impacted during the slowdown, especially in the consumer market segment,” said Alok Shende, principal analyst, Ascentius Consulting.

After banking financial services and insurance (BFSI), telecom along with Hi-Tech is the second largest vertical for Indian IT/ITeS players, accounting for 22 per cent of BPO exports in FY2010, said the Nasscom Strategic review 2010.

Last year, despite the industry being laggard in its growth, the total contract value from the telecom (including media) sector touched $7 billion in the second half of 2009 — an increase of 23 per cent from $5.7 billion in the first half of 2009.

India-centric cos corner 5% of BPO cream revenues

INDIA-centric business process outsourcing (BPO) players have given a competition to their western counterparts by cornering 5% share in the total revenue generated by the top-150 service providers in 2008, according to a study by Gartner.
Gartner expects the growth momentum to continue and the share of Indian vendors to nearly double by 2010. In 2002, there were few Indiacentric vendors in the top-150 worldwide providers but by the end of 2008, the top-20 Indiacentric BPO providers accounted for $4 billion in revenue, representing 5% of the $80-billion revenue of the top-150 BPO vendors.
“Indian BPO providers are swiftly evolving to balance exposure to vertical industries, currency and legislation issues,” said Mr Arup Roy, senior research analyst at Gartner. Their strategies include investing in onshore and nearshore delivery, and pioneering in analytics or KPO.
Indian BPO providers have met with success servicing English-speaking requirements from North America and the UK. North America has been the most successful sales location for Indian BPO providers, where the top-20 India-centric BPO providers generate about $2.2 billion in revenue. Western Europe showed strong growth, mostly in the UK, and accounted for $1.4 billion in revenue for the top-20 Indian BPO providers in 2008. The verticals where Indian BPO providers had more success are telecom, manufacturing, insurance and banking.
Indian BPO company Genpact is ranked number one among the top five India-Centric BPO providers with worldwide BPO revenue of $833 million for 2008 followed by Aditya Birla Minacs with $392 million.
Although there are still no Indian vendors in the top-20 global BPO players, half of the top-20 India-based BPO providers now operate local US and European sales and delivery centres.

Logica to recruit 3,000

Chennai: IT and business services company Logica plans to recruit about 3,000 people in the Philippines, Czech Republic, Morocco and India by 2009, the company said. Chennai will corner 2,000 of the jobs, said Logica India CEO Abhay Gupte.
Logica provides consulting, outsourcing solutions and services and blended delivery services across many industry verticals. In India, it provides support services like infrastructure management, BPO services and financial accounting outsourcing.
It employs 5,700 people and plans to ramp it up to 8,000 by the end of this year. The Chennai centre has about 900 employees. Gupte said.

Sallie Mae to shift 2K jobs back to US

THE Virginia-based Sallie Mae, America’s biggest student loan provider, will shift 2,000 positions from its offshore facilities in India to US cities. By seeking to consolidate its resources in the US as part of a reverse offshoring measure, the firm is likely to incur almost $35 million on higher labour costs every year. Sallie Mae manages $180 billion in education loans and serves 10 million student and parent customers through its subsidiaries every year.
The company’s centres in Pune, Bangalore and Philippines offer loan origination, servicing and collection services. “For 37 years, we have been dedicated to help America’s students enhance their lives through an investment in higher education,” Albert L. Lord, chief executive of Sallie Mae said in a statement. “The current economic environment has caused our communities to struggle with job losses. They need jobs, and we will put 2,000 of them into US facilities as soon as we possibly can.” Sallie Mae expects to hire these employees over the next 18 months.
SALLIE MAE WITHDRAWS
THE TRIGGER
Obama said he can save $4 billion by making loans directly to students, ending subsidies to middlemen like Sallie Mae and leaving them to survive on higher-cost private loans
RESPONSE
Offers Democrats what they want:
Jobs in their districts
ALBERT LORD, Chief Executive, Sallie Mae
The Announcement
Sallie Mae to fire its contract workers in India and Philippines and ship 2,000 jobs back to several US sites
The Effect
The move will cost Sallie Mae $35 million a year, compared with hiring contractors in Asia US cos trying new model
ACCORDING to the US department of labor, unemployment rate during Dec 2008 rose from 6.8-7.2% with two million workers losing their jobs between Sept and December. Apart from Sallie Mae, many outsourcing services providers are attempting to offer a compelling alternative to customers seeking to offshore jobs to cheaper locations including India, where a software project can be delivered at almost half the US costs.
For instance, smaller US firms such as Rural America Onshore Sourcing and Xpanxion are attempting to build a sustainable rural outsourcing model in the US at a time when offshore locations like India are facing a backlash and unemployment rates have touched an all-time high.
Xpanxion, an Atlantaheadquartered software firm, which shifted its software testing work from Pune to Nebraska a few years ago is among a handful of such firms seeking to create a more comfortable and cost-effective alternative to offshore outsourcing. Customers such as NCR, Coca-Cola and Goldleaf Financial Solutions are outsourcing software projects to Xpanxion. At a time when political lobbyists such as Senator Chuck Grassley are leading a campaign against offshore outsourcing by American firms, some customers might prefer to outsource smaller projects to local providers and avoid being seen as supporting the outsourcing of US jobs.
However, Indian offshore companies say such initiatives are yet to become mainstream, and that many medium-sized to large customers continue to send more projects to India. “Sallie Mae’s move seems more like a nationalist initiative, and not something to be worried about as many customers still want to bring down their operational costs by outsourcing to India,” a senior executive at a top Indian tech firm told ET on conditions of anonymity.