Mr. Rachit Shyam graduated from KIAMS in 2003. Currently working as a Consultant in Risk Advisory Services in Ernst & Young Pvt. Ltd, he spoke to us about his work, future aspirations and his profession – the way he sees it.
- What kind of projects could a Risk Advisory person be working on?
A Risk Advisory consultant could be involved in a variety of projects like internal audit, standard operating procedure review and IT controls review etc. at a given time.
- Is Risk Advisory one of the fastest growing fields within consulting? Tell us about a typical day in the life of a consultant.
Yes, Risk Advisory Services (RAS) is definitely one of the fastest growing practices.
Generally, a consultant would be working on multiple engagements. Each engagement would have its own set of demands. Or there could be a proposal that needs to be sent to the client. For a consultant, his day would start by first prioritizing his “to do” list. This would be followed by a visit to the client. The visit could be to discuss a proposal or to deliver a report. Lunch break is the most awaited time of the day as it allows for the team to interact informally. From then on, time goes in analyzing data, preparing reports, etc.
A consultant gets to call it a day only by late evening or night. However, a good consultant still manages to take some time out to ‘update’ himself.
- How can students prepare themselves for a career in the field of consulting?
A consultant would generally work on engagements spanning over multiple industries.
The very reason a consultant is required is that the clients have some problem or issue that needs to be addressed or there’s scope of improvement. So, a consultant needs to understand the dynamics of the industry and the company in particular and relate it with the issues faced by the company. Therefore, I think students need to read editorials of business newspapers, Vikalpa, HBR, etc. Besides enhancing their knowledge, such pieces hone the analytical skills of students. Last, but not the least, students should pay attention to communication. To be a good consultant, one needs to be good with his communication skills.
- What are the key skill sets required in the consulting profession?
Those would have to be analytical skills, communication and the ability to be able to handle people and diverse situations.
- Consulting is one of the most sought after profession. However, what do you dislike about your job most?
What I dislike is the long hours I keep and that being a consultant means I am always at the receiving end.
- Where do you see yourself 5 years down the line?
I see myself as an opinion-maker for an industry or maybe handling my own consulting venture.