Student programme to encourage careers in financial services
(CNS Business): The launch of a new student education and work experience programme is set to spark early engagement for Caymanian students interested in careers in the financial services industry. The 12-week programme targets Year 12 students who are job-ready and aims at putting more young professionals to work in this industry.Cayman Finance, the Ministry of Education, Employment and Gender Affairs and the Ministry of Financial Services, Commerce and Environment have joined forces to create a pathway for up to 50 dual-enrollment students who are in the first year of their A-Levels or associate’s degree. Officials said the pilot program will involve around 65 professionals from the financial sector, who will provide a one-on-one mentoring experience with students by hosting weekly workshops in schools.
Education Minister Tara Rivers and Financial Services Minister Wayne Panton sign an agreement to start the new programme
Cayman Finance CEO Jude Scott stated at the press conference Tuesday morning that the Cayman Islands is acknowledged as one of the world’s leading international financial centres and government leaders want to fully support the potential for growth and engage students early in their career paths.
“We have a world-class financial industry so investing in world-class performance, capability and capacity is the right action to be taking,” he said.
Scott explained that with the programme there will be seven weekly one-hour workshops in the participating schools, six one-hour mentoring sessions for each student and a four-week work placement with students receiving a stipend of $1,000.
“Training will be provided for all the coaches through a partnership with the Big Brother/Big Sister programme,” he said.
Rivers said local statistics show there is a real concern of youth unemployment.
She explained, “The aim of the programme is to help young people to get a foot in the door and to gain real understanding and skills that is required to be able to participate successfully in the world of financial services and have better exposure to what some of the expectations are when it comes to actually gaining and maintaining employment in this industry as well.”
Panton added, “It’s not just a summer job. It is an attempt to ensure we have a broader of the industry and the opportunities available and to connect deliberately with aspirations of children in our country who see those opportunities and wish to pursue those.”
Government officials told CNS Business they have allocated $30,000 to the programme, $15,000 from both the financial service and education ministries. Scott said Cayman Finance members will directly contribute $40,000 to the programme and also around $300,000, when factoring in mentoring time from employees in the sector. Minister Rivers specified that the bulk of the money is for materials and to get the programme up and running.
The pilot scheme will begin in May 2015 and run for 12 weeks. If successful, Rivers said the initiative will be expanded in years to come.
Category: Education & Training, Featured, Finance, Financial Services, Local Business, Video
This is very, very good news. Going back to our forefathers old ways of apprenticeship can only be good for all concerned. Now apply it to all job sectors. If you are old enough to have been working in the 60’s, 70’s and 80’s you will remember that’s the way it was done and everyone felt like they contributed to our development and success. Let’s get back to being 1 community.