#financial #services #institute
National Workforce Development Agency
Published 16th December 2003, 3:23pm
The Institute of Financial Services (IFS) Cayman Local Centre (UK Institute of Bankers) recently held its 2nd Annual General Meeting at the Grand Old House, followed by an awards ceremony at which there were 25 recipients, including 17 non-IFS awards.
Mr. Eric Crutchley, MBE, FCIB and president of the IFS Cayman Centre welcomed members to the AGM and gave recognition to the efforts of those pursuing qualifications at a higher level and acknowledged the faculty support provided by the Community College, which has produced some fine results. Subjects can now be �badged� by the IFS, which will provide members with internationally recognized qualifications. The level of both setting and marking of the examination papers by the Community College was acknowledged by the IFS Moderators as being of a high level with little adjustment necessary in the moderation process.
Although the positions of president, secretary and training officer remained unchanged, there were new members introduced to the Executive as well as those remaining for a further year. The complement of the Executive comprise:
- Eric Crutchley, president
- Eduardo Silva, deputy president
- Valerie Mullen, secretary
- Owen Henry, treasurer
- Al Aaron
- Glenda Davidowski
- Gary Hepburn
- Andrew Needham
- Ormond Williams
- Anne Wylie
At the presentations and for the benefit of all present, Mr. Crutchley took the opportunity to briefly quote from the IFS Moderator�s Report–Fall 2003 Examinations, in respect of the Financial Foundation Certificate:
�The moderator would first like to congratulate the Community College of the Cayman Islands, and the examiners for the six (6) subjects, on the quality of the question papers and mark schemes. The overall standard is excellent and I am particularly pleased to see the process of �cross-moderation� being put in place. This process has no doubt contributed to the general quality and high standards.�
In his conclusion and recommendations, the moderator said: �Thank you for supplying the examination papers and marking schemes–the overall standard is very good with the majority of the moderator�s comments relating to presentation. The six (6) examinations, once the suggested amendments have been incorporated, should present a good challenge.�
In response, Mrs. Joy Basdeo, permanent secretary in the Ministry for Education, Human Resources and Culture, on behalf of the Minister highlighted some of the findings from the Workforce Skills Assessment Survey conducted earlier this year: the banks/financial companies sector hires two Caymanians for each expatriate; 90% of its institutions offer some type of training; 60% recruit high school graduates; 44% administer entrance examinations; and the skill improvement most needed by the sector is software competency, which she pointed out is the objective of the recently introduced ITALIC programme.
She went on to commend the financial sector for the training offered to Caymanians, IFS and the accomplishments of the individuals recognized that evening.
In closing the evening, gifts were presented to Mrs. Gerry Robinson and Mr. Eduardo Silva in recognition of their efforts throughout the year.
CONTACT: Gerry Robinson, Executive Manager, CIBA +1 (345) 949-0330