When it comes to making a beeline for the executive ranks, job-hopping appears to be the new norm. But at Citigroup (Citi), Vira-anong Chiranakhorn Phutrakul has shown that workplace loyalty can also help one reach the top rungs of the corporate ladder.
Citibank Thailand, a Thai unit of Citi, is not only a financial institution, but also a school that has groomed many local bankers, including Mrs Vira-anong, who started her career there in an entry-level job more than two decades ago.
Fast forward to early 2016, when Mrs Vira-anong was promoted to the head of Citibank Thailand's consumer banking business, overseeing business functions such as credit cards and loans, retail banking, wealth management, e-business, and consumer lending. The operation has more than 1 million customers.
Mrs Vira-anong began her journey as an intern working in Citibank Thailand's securities business when she returned to Thailand after completing a master's degree in finance, accounting and international management at Boston College in the US.
Following an impressive performance, the financial institution offered her a job as an investment banker in the securities business unit. She jumped at the opportunity, putting her plans to pursue a PhD on the back burner for what she thought would be a year or two.
Vira-anong Chiranakhorn Phutrakul was promoted last year to head the consumer banking business of Citibank Thailand.
At the time, investment banking was still a new career path in Thailand. It was also a pioneering era for initial public offerings in the country. Faced with exciting and challenging work in the field, Mrs Vira-anong ultimately decided to shelve her PhD plans indefinitely. Here she discusses her thinking.
Why have you demonstrated so much loyalty to Citibank?
Citibank has offered me many opportunities and pushed me to grow in the field. I have also received good support from all sides, including bosses, colleagues and subordinates. Given that the company is an international organisation with many business units, it has opened up opportunities for me to learn a lot of things.
After working here for more than 20 years, a lot of my colleagues moved on to other organisations and financial institutions. Like others, I have been approached by several organisations that offered me higher positions, but I turned those offers down because I have received good opportunities here.
Mrs Vira-anong says her son, Jay, is her inspiration.
I joined Citibank Thailand in 1994 and worked in the corporate finance department. I was promoted to head of account management for our securities services the following year. Later on, I moved up to become the securities country manager for Thailand.
I relocated to Hong Kong in 2000 to take over as regional clearing product manager for Asia and was appointed as securities country manager for Hong Kong and China in 2001.
I returned to Thailand in November 2002 to become head of global transaction services. I later served as the local commercial bank head in charge of transactional banking products covering cash management, trade products, securities services for financial institutions, corporate clients, the mid-sized market and small to medium-sized client portfolios.
'Like others, I have been approached by several organisations that offered me higher positions, but I turned those offers down,' Mrs Vira-anong says.
What's been your favourite job?
My current job in the consumer banking business, because we can receive direct feedback, both positive and negative, from individual clients about the bank's products and services.
In the retail banking business, customers experience the bank's services as a direct extension of their own money. So they will respond well when they are satisfied with the services. On the other hand, they will complain immediately when they are short-changed.
We can make their lives better via financial services such as savings and investments, as well as spending and transactional banking. So I think my current job has real meaning.
Because of the wide-ranging services in the consumer banking business, including products, services, call centres, branches and business control, this is never a boring or monotonous job. I get a new challenge every day.
Credit cards are a key segment of Citibank's consumer banking business.
What's your management style?
I have to concentrate on all of my work by giving 100% of my attention. I am diligent when it comes to every task. I never give up if I have not succeeded yet. But I am also ready to move forward when necessary.
I am always ready to push, support and share ideas with others.
Where do you find inspiration?
My son, Jay, is only seven, while my friends' kids are already teenagers. As he is still young, we (my husband and I) need to support and raise him.
He invigorates me; makes me feel like I'm a child. Our family regularly does activities together at the weekend, and most of them are kid's activities. I need to balance life and work to take care of my son properly.
Normally, I wake up before 6.30am to chit-chat with my son before he goes to school. I spend all of my time with him at the weekend.
My husband has his own business, so he can always find the time to take care of him. He is home before Jay goes to bed and helps him do his homework. I do my best to help as well.
The head office of Citibank Thailand at the Interchange 21 building.
Who is your role model?
My father. Even though my father is quite strict and serious when it comes to work, he is ready to support all of his subordinates. Therefore, he is beloved and respected by everyone.
Both my father and mother were former bankers who worked overseas. My parents inspired me to work in the financial and banking sector as I absorbed what being a banker is from a young age.
My father always supports me in everything, both personally and professionally. He also advised me when I needed to make a decision on whether to continue working here or to return back to study in the US.
How do you spend your day?
I usually wake up at 6.30am and spend time with my son before he goes to school. I then get a bit of work done before going to the office, things like checking my e-mail or preparing for meetings. Most of my everyday work involves meetings, contacting business partners and visitors, and going out to foster connections. I leave the office at around 8pm.
Mrs Vira-anong with her husband and son at the Taj Mahal. Work-life balance is vital, she says.
What is your vision for the consumer banking business at Citibank Thailand?
We have focused more on digital services in line with current trends.
Advanced technology will allow us to better access our customers. It will open up opportunities for the bank to create better financial products and services, and offer more convenience in banking business transactions for customers.
Citibank is the first financial institution in Thailand to employ biometric solutions. They include fingerprints to access mobile banking and voice authentication for customers to identify themselves when speaking with the bank's call centre.
I've worked at the consumer banking business for only one year and there are a lot of things to do.
We plan to continuously develop and expand our business and offer quality services to customers as part of our next business phase next year.
Are you gunning for the top position as country manager for Citibank Thailand?
I think I can do it. For the long term, I want a role in general management, but I still don't have a concrete plan.
Mrs Vira-anong and her son regularly join the company's sporting activities.
If you get promoted to the top executive position at Citibank Thailand, will you be the first female country manager?
Yes, I would be. But right now I am the first female executive in my current position as consumer business manager.
I don't think gender is a factor when it comes to working. Both man and woman can perform equally.
I was approached by the country manager, Darren Buckley, to take the current job after the former consumer business manager, who was an expat, decided to return home. I think it's a good opportunity that does not come every day.
After deciding to take the position, some tensions initially arose, but with my determination to learn new things and face new challenges, I got through it all.
After about a year on the job, I have learned a lot of things and look forward to learning more.
