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Challenge Yourself! Do You Have What it Takes?

Challenge Yourself! Do You Have What it Takes?

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Challenge Yourself! Do You Have What it Takes?

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  1. Challenge Yourself! Do You Have What it Takes?

  2. Agenda • Background on the BMA • Overview of our Graduate Training Programme • Q&A with our Graduate Trainees • A chat with Alisha Phillips & Tiffany Austin • Q&A • Refreshments

  3. Background on the BMA • The Bermuda Monetary Authority was formed by an Act of Parliament (Bermuda Monetary Authority Act 1969) on 20th February 1969. • Under this Act we: • Supervise, regulate and inspect financial institutions operating in or from within Bermuda • Advise Government and public bodies on banking and other financial & monetary matters • Are the issuing authority for Bermuda’s national currency • Manage exchange control transactions • Assist other authorities in Bermuda with the detection and prevention of financial crime

  4. What Does the BMA Do? • We supervise, regulate and inspect financial services institutions that operate in or from within Bermuda. What is Regulation? • Regulationis the process of setting guidelines and, as outlined in legislation, for financial firms, in order to maintain the integrity in the financial system. What is Supervision? • Supervision is the oversight of financial services sectors to ensure firms are abiding by the rules and are operating fairly and efficiently. Act a “watchdog” What types of businesses are classified as financial firms/institutions?

  5. Who does the BMA regulate/supervise? • Financial institutions regulated by the BMA: • Banks • Trust companies • Investment businesses • Investment funds • Fund administrators • Money service businesses • Insurance companies • The BMA also regulates the Bermuda Stock Exchange. Why do we regulate Bermuda’s financial institutions?

  6. Our Mission • To protect and enhance Bermuda’s reputation and its position as a leading international financial centre, utilising a team of highly skilled professionals acting in the public interest to promote financial stability, safeguard our currency and provide effective supervision and regulation • To ensure that we accomplish our mission, we are constantly striving to build and develop the best team of professionals. What type of professionals make up the BMA’s team?

  7. Our Team Members • The Authority provides unique and meaningful career opportunities for qualified individuals. • There is a wide variety of professionals at the BMA, including: Accountants Compliance Specialists IT Specialists Actuaries Corporate Communications Specialists Lawyers Auditors Economists Policy Analysts Bankers Human Resource Specialists Researchers Risk Analysts So what does this have to do with the Graduate Training Programme?

  8. Our Graduate Training Programme (GTP) Our aim is to get the right people who have the right skill sets on our team, for now and for the future! • It was from this philosophy that the GTP was created to provide a vehicle through which Bermudians can begin a career in financial regulation, and eventually contribute at a senior level. • At the BMA we are committed to nurturing Bermudian talent • Through our GTP we provide the structure and development opportunities needed for our trainees to eventually fill technical positions within the Authority.

  9. How is the Programme structured? • Each trainee’s Programme is for three years • Each trainee is paired with an Executive mentor • Our trainees’ work track is personalised, based on their areas of interest • Each trainee is rotated through the various supervisory teams within the Authority • Insurance, Licensing & Authorisations • Insurance, Complex Institutions • Banking, Trust & Investment • Policy, Research, Macroprudential & International Affairs • Risk Analytics • Legal Services & Enforcement • Directly involved in collecting, analysing, discussing and reporting information

  10. How is the Programme structured? • Each trainee is encouraged and supported to pursue further education, leading to an appropriate professional designation, such as: • Accounting education/background: CPA, CMA, CFM • Insurance education/background: ARM, ARe, CRM • Each trainee participates in a local secondmentwith a Bermuda industry partner • Each trainee also participates in an international secondment with an overseas regulatory agency or financial entity. YES! Our trainees get to travel overseas • Upon successful completion of the Programme, trainees are offered placement as an Analyst within the Authority • YES! Our trainees can have a rewarding career This is an experience like no other!

  11. Vashun Blanchette • Start Date: November 2008 • Current rotation: • International secondment until April 2012: • Bank of International Settlements (BIS), Basel, Switzerland • Education: • University of East Anglia • Bachelor of Science in Business Management • Cardiff University • Master of Science • Major: International Economics

  12. Treasa Fubler • Start Date: November 2008 • Current rotation: • International secondment until April 2012: • Hiscox UK, London, England • Education: • Clark University • Bachelor of Arts • Major: • Business Management

  13. Terry-Lynn Griffiths • Start Date: November 2009 • Current rotation: • Policy, Research, Macroprudential& International Affairs Department • Education: • University of Western Ontario • Bachelor of Science in Business Management & Organisational Studies • Major: • HR Management

  14. Jelani Scott • Start Date: November 2009 • Current rotation: • Local secondment to HSBC until September 2012 • Education: • Howard University • Bachelor of Business Administration • Major: • Management

  15. Alisha Phillips • Start Date: November 2010 • Current Rotation: • Restoration, Run-off & Monitoring Team, Insurance Complex Institutions Department • Education: • University of Western Ontario • Bachelor of Management and Organisational Studies • Major: • Finance

  16. Tiffany Austin • Start Date: November 2011 • Current rotation: • Risk Analytics Department • Education: • St. John’s University • Bachelor of Science • Major: • Actuarial Science

  17. A Chat with Alisha & Tiffany Tiffany Austin Alisha Phillips

  18. GTP Eligibility Requirements • Bermudian • 21 years or older • University graduate, with a Bachelors degree from an accredited institution • Articulate and well-spoken, with a strong business sense • Able to develop and produce written and oral presentations • Demonstrate basic knowledge of financial services sectors under supervision • Committed to a career in financial regulation for minimum of three years post completion of the Programme

  19. To Apply Submit • A completed application form; • A copy of your resumé; • A letter addressed to the GTP Selection Committee, outlining the reasons why you are a strong candidate; • Proof of Bermudian status; • A certified copy of your birth certificate or Bermuda passport; • One academic or professional reference letter; • One personal character reference letter; and • Certified copy/copies of your university degree(s).

  20. Do you have what it takes? Challenge Yourself! Apply Today!