Pramit Sen
Chief HR Officer
Established in 1996, NSDL is one of the largest depositories in the world and is India’s first and leading Central Securities Depository. It has been pivotal in transforming India’s securities market by facilitating the holding and transferring of securities in dematerialized form and currently has a market share of more than 89 percent.
Recruiting the right talent and helping them maximize their potential alongside the productivity of the company is indeed a daunting task. However, NSDL’s Chief Human Resource Officer, Pramit Sen hopes to achieve this goal for his organization to help create a conducive work environment that allows people to thrive. One of the youngest CHROs to date, Pramit Sen has an experience of 17 years across leading financial institutions of the country like ICICI Prudential, HDFC Life Insurance Company, and Axis Bank.
His key areas of focus have been human resource strategy, technology implementation, organizational development, and change management. Pramit believes in understanding business and people requirements, transforming HR from an administrative to a strategic business driver, gaining buyins, building effective HR processes, and strategic approaches to resourcing and development. Check out the small snippets from an interview we had with Pramit to know more about his journey and success.
Describe your professional journey
I believe that human capital is critical to an organization’s growth and investing in the right pool of talent should be one of the most pertinent areas of focus for any organization. I was born and raised in the industrial town of Bokaro, Jharkhand, and have completed my fundamental education at St. Xavier's School. I have specialized in Human Resource Management from IISWBM, Kolkata from where I forayed into the manufacturing
sector through aluminium major Hindalco Industries in West Bengal. Thereafter, in 2006, I switched to the insurance sector with ICICI Prudential followed by a considerable stint at HDFC. Subsequently, at Axis Bank, I helped drive the bank's HR tech transformation, worked on process harmonization, and created a universal one stop HR application. Soon it was time for yet another adventure, and thus NSDL happened.
Tell us about NSDL as an organization and what are the greatest strengths of the company.
National Securities Depository (NSDL) is India’s first and one of the leading Depositories in the world. It has played a key role in transforming the Indian securities market by facilitating the holding and transferring of securities in dematerialized form. NSDL’s strength is its cutting-edge technology which reaches investors through its Depository Participants in an online and offline mode (58,000 service centres). NSDL technology has helped redefine the capital market in terms of reaching T+1, implementing Blockchain technology, and more.
What are the latest technologies adopted in your offerings and what impacts are delivered to customers?
I would say that NSDL has been a key player in the modernization of technology and a pillar of the Indian Securities Market because of its consistent focus on enhancing systems, emphasizing improvements, and utilizing new APIs. NSDL has launched several products and services, including the NSDL Insta Demat Account, NSDL's Demat Gateway for delivery of Instruction Slip, and Margin Pledge, among others for its investors. With the development of technology, we can state that we have streamlined the onboarding process for clients and that majority of our solutions are now completely digital and paperless, that in turn saves both time and paper.
What are the factors you consider while preparing business strategies?
A clear focus on the vision of the organization, its prime strengths, and areas that need to be strengthened are the three pivotal factors that govern my business strategy. I believe that an organization can never be successful without a clear long term vision. Having said that, the overall success depends on the health and
Tell us about NSDL as an organization and what are the greatest strengths of the company.
National Securities Depository (NSDL) is India’s first and one of the leading Depositories in the world. It has played a key role in transforming the Indian securities market by facilitating the holding and transferring of securities in dematerialized form. NSDL’s strength is its cutting-edge technology which reaches investors through its Depository Participants in an online and offline mode (58,000 service centres). NSDL technology has helped redefine the capital market in terms of reaching T+1, implementing Blockchain technology, and more.
I believe that embracing technology and fusing it with people and business decisions will be the key to the future of human resources
What are the latest technologies adopted in your offerings and what impacts are delivered to customers?
I would say that NSDL has been a key player in the modernization of technology and a pillar of the Indian Securities Market because of its consistent focus on enhancing systems, emphasizing improvements, and utilizing new APIs. NSDL has launched several products and services, including the NSDL Insta Demat Account, NSDL's Demat Gateway for delivery of Instruction Slip, and Margin Pledge, among others for its investors. With the development of technology, we can state that we have streamlined the onboarding process for clients and that majority of our solutions are now completely digital and paperless, that in turn saves both time and paper.
What are the factors you consider while preparing business strategies?
A clear focus on the vision of the organization, its prime strengths, and areas that need to be strengthened are the three pivotal factors that govern my business strategy. I believe that an organization can never be successful without a clear long term vision. Having said that, the overall success depends on the health and
morale of employees i.e. human resources. Any business without the right people cannot be successful. Therefore, a lot rests on the leadership who guides and provides direction to the team and helps them be motivated to implement the vision on the ground.
What characteristics best describe your leadership style, and what methods or rules do you adhere to managing your team?
I consider myself to be a democratic leader and give a patient ear to all views on the table. My team members have always been appreciative of my approach and consider those practical, process-focused, and value-driven. I have been fortunate to exceed their expectations at all times and have motivated them to aim higher. While I expect my teammates to be ready to give their 100 percent I ensure their efforts are recognized and achievements lauded. I also do not hesitate to Provide constructive and direct feedback to them.
How do you ensure that the organization's main vision and mission are being followed while delivering the people's agenda?
I truly believe that the delivery of people's agenda should always be a key area of focus for any organization. A people agenda coupled with business vision, taking the management team into confidence, and transparent communication with all employees is how I try and deliver this people agenda. As an HR professional who has designed and delivered multiple transformation journeys and placed those in strategic spheres, I am known as a change management leader and have waded through tough waters and diverse employee pools.
What is your future destination?
“I am on a mission to build an institution.” I believe that embracing technology and fusing it with people and business decisions will be the key to the future of human resources. I aspire to steer, design, and implement human capital reforms that have a direct impact on the productivity and profitability of the business as the CHRO and a key strategic partner. I am certain that my focused efforts will help NSDL become one of the most sought after companies to work for.
Pramit Sen, CHRO, NSDL
Currently working as the CHRO at NSDL. He has been associated with Hindalco, ICICI Prudential, L&T Finance, HDFC Life, and Axis Bank before joining NSDL.
•Hobbies:Playing badminton and foot ball, driving and exploring places and reading business books
•Favourite Cuisine: North Indian food
•Favourite Book: Good to Great by Jim Collins, Start with Why by Simon Sinek
•Favourite Travel Destination: Leh in India, Austria in Europe
What characteristics best describe your leadership style, and what methods or rules do you adhere to managing your team?
I consider myself to be a democratic leader and give a patient ear to all views on the table. My team members have always been appreciative of my approach and consider those practical, process-focused, and value-driven. I have been fortunate to exceed their expectations at all times and have motivated them to aim higher. While I expect my teammates to be ready to give their 100 percent I ensure their efforts are recognized and achievements lauded. I also do not hesitate to Provide constructive and direct feedback to them.
How do you ensure that the organization's main vision and mission are being followed while delivering the people's agenda?
I truly believe that the delivery of people's agenda should always be a key area of focus for any organization. A people agenda coupled with business vision, taking the management team into confidence, and transparent communication with all employees is how I try and deliver this people agenda. As an HR professional who has designed and delivered multiple transformation journeys and placed those in strategic spheres, I am known as a change management leader and have waded through tough waters and diverse employee pools.
What is your future destination?
“I am on a mission to build an institution.” I believe that embracing technology and fusing it with people and business decisions will be the key to the future of human resources. I aspire to steer, design, and implement human capital reforms that have a direct impact on the productivity and profitability of the business as the CHRO and a key strategic partner. I am certain that my focused efforts will help NSDL become one of the most sought after companies to work for.
Pramit Sen, CHRO, NSDL
Currently working as the CHRO at NSDL. He has been associated with Hindalco, ICICI Prudential, L&T Finance, HDFC Life, and Axis Bank before joining NSDL.
•Hobbies:Playing badminton and foot ball, driving and exploring places and reading business books
•Favourite Cuisine: North Indian food
•Favourite Book: Good to Great by Jim Collins, Start with Why by Simon Sinek
•Favourite Travel Destination: Leh in India, Austria in Europe