Dear Kavyashree,
You wanted to initiate job rotation in your company. Yes, it is a good HR intervention.
Nevertheless, what is the nature of your industry? "Financial Services" means what exactly is the nature of your business?
As far as job rotation is concerned, preferably I recommend it doing intra-department. The job rotation gives exposure to the different types of work and it increases the confidence of the employees. However, before initiating job rotation, please make sure that SOPs of each section are well-defined and nothing is left to the imagination of the newcomer. Secondly, job rotation succeeds where records are maintained meticulously. Should the newcomer feels a need to refer to the past records, he/she should be able to do so. Even for maintaining records also, you need to have an SOP. Otherwise, a newcomer may come up with his own method or discontinue some old practices and the very purpose of the job rotation may get defeated.
Thanks,
Dinesh Divekar