Training Bermudians for IB success

You’ve graduated from university and are looking for an extra edge in the business world.

The Bermuda Monetary Authority may be the place to give you an advantage.

The BMA’s Graduate Training Programme has a track record of polishing top notch talent for international business.

The Authority’s Graduate Training Programme provides Bermudians with the opportunity to gain industry and regulatory experience. In addition, candidates can earn qualifications and designations.

A spokesperson for the BMA said: “Trainees gain valuable work experience as we guide them through the various tasks and responsibilities of our supervisory departments.

“In addition we pair trainees with knowledgeable mentors who support and coach them during their programme. We also arrange secondments with both a local industry partner, an international regulatory agency or regulated financial entity to further afford trainees the opportunity to expand their knowledge and experience on a more global level.

“Upon completion of the Programme, our trainees will be better positioned to assume technical positions within the Authority’s various supervisory units.”

Trainees will be directly involved in the work the Authority does, which it conducts on the behalf of Bermuda.

The BMA said the ideal candidates to take part in the Graduate Programme are expected to show the following skills and abilities:

• Numeracy

• Excellent verbal and written communication

• A team player

• Flexibility in a quickly-evolving and dynamic environment

• Business and professional acumen

• Maturity and excellent interpersonal skills

• Prepared for a challenge

• A basic knowledge of the financial services industry

• A basic awareness of the economy in Bermuda and internationally.

Trainees Tiffany Austin and Alisha Phillips tell their stories:

Tiffany Austin

“I didn’t want to go right into the insurance industry. I did acturial science but I didn’t want to go into a position and get stuck there. I wanted to go somewhere which would show me the different aspects of the industry.

“I applied to the programme and would be able to go through a rotation of the departments and learn a lot more than if I were to go to one of the big insurance companies and that’s why I applied to the Authority’s Graduate Training Programme.

“We do real work as a trainee. When I make a recommendation it is a real recommendation — it’s not going to be something someone looks at and files away. 

“If I say ‘This needs to be investigated a little bit more, then it gets investigated more.’

“Our work has a real effect on Bermuda. Trainees need to be able to think and see items at more than face value.”

“I believe this Programme is a great opportunity for any recent graduate who wants to learn in-depth about Bermuda’s financial and insurance industries.

“There are numerous opportunities to develop as an individual and put your current knowledge into practice. Most importantly, you know you are contributing to the overall success of the department, the BMA and Bermuda.” 


Alisha Phillips

“I was a scholarship recipient with one of the audit firms. I was an auditor for a bit but decided it wasn’t for me.

“Finance is my major and finance is my passion. I had a friend who worked with the BMA over the summer and she talked to me about the programme.

“I found my rotation through the research department the most interesting. I was able to take part in the Deposit Insurance Scheme. We were responsible for doing some research on other jurisdictions and their deposit insurance schemes and what they had implemented and what worked well and what didn’t work. That information was instrumental in developing Bermuda’s Deposit Insurance Scheme.

“I didn’t expect as part of this programme to being able to partake in such history-making events.

“The Graduate Training Programme encourages you to push yourself beyond the textbook and into the practical everyday challenges arising within the financial industry of Bermuda through the eyes of the regulator. 

“It offers you the training necessary to facilitate steady specialized advancement towards your ultimate career goal. 

“The GTP challenges you to challenge yourself.”