Business Bytes - July 2022

BUTTERFIELD LAUNCHES GRADUATE TALENT PROGRAMME

Butterfield Bank (Cayman) Limited announced the launch of its Graduate Talent Programme last month, and is now accepting applications via its website.

The programme is open not only to university graduates, but also to candidates who may have chosen a different path and have work experience in place of a bachelor’s degree.

The structured two-year programme, which begins in September 2022, will allow two successful applicants to progress their careers in the financial services industry with full-time roles at Butterfield. The positions are competitively salaried with benefits.

During their time with Butterfield, the successful applicants will rotate and spend time in key business areas to gain practical experience and develop technical knowledge. They will also have an opportunity to embark upon an industry-accredited qualification. Each individual will work closely with experienced professionals and will be assigned a dedicated mentor to provide guidance together with a personal development plan.

Butterfield’s Group Head of Human Resources Andrew Burns said the new programme is part of the company's ongoing commitment to develop the next generation of talented employees.

"We recognise that there are many routes to success and our selection for this programme is based on more than just academics alone," he said. "Competence, motivation, leadership potential and an alignment with our core values are as important, if not more so. At the end of the two years, our aim is for the successful applicants to grow into a permanent position within the business in an area that is a best fit for them."

Those with the right to work in the Cayman Islands wishing to apply to the Graduate Talent Programme should visit www.butterfieldgroup.com/careers/graduate-talent-programme. The application deadline is 31 July 2022.

exterior of butterfield bank

CIIPA HONOURS CAYMANIAN DEGREE EARNERS

Government leaders and accounting professionals came together on 28 May to recognise Caymanians who have reached key milestones in their accounting careers at the Cayman Islands Institute of Professional Accountants awards gala at Kimpton Seafire Resort + Spa.

Forty-five Caymanians were honoured throughout the evening, including 35 who earned a bachelor’s degree and 10 who earned a master’s degree.

CIIPA President Rennie Khan spoke about the changing roles for modern-day accountants.

“Long gone are the days when accountants were primarily concerned with bookkeeping and preparing financial documents. Accountants are no longer behind-the-scenes players in the workplace, but rather they are driving forces that research, collect, analyse and advise," he said.

Pictured here are the master’s degree recipients who were honoured at May's gala. 

group of degree earners
Photo: Maggie Jackson/CIIPA

GREENLIGHT RE INVESTS IN SECURITY DEPOSIT REPLACEMENT INSURANCE

Greenlight Re Innovations, part of Greenlight Capital Re, Ltd., announced on 31 May that it had made an investment in Germany-based Garentii GmbH, which offers security deposit replacement insurance for landlords.

Security deposits have long been the standard form of landlords' security against property damage and unpaid rent. However, security deposits represent an inefficient use of renters' capital and an administrative burden for landlords. Garentii provides an insurance-based alternative, offering security deposit replacement insurance within existing workflows when a lease is signed.

Greenlight Re Chief Executive Officer Simon Burton said security deposit replacement insurance has already seen success in the United States.

"By developing a tech platform for landlords to distribute and administer policies, Garentii will make renting an apartment smoother for both landlord and tenant," he said.

SCOTIABANK URGES ONLINE VIGILANCE

With fake apps and website and email scams all on the rise, Scotiabank Cayman last month urged its customers to be vigilant when navigating websites, using mobile applications and responding to any email requests purporting to be from the bank.

“Across the region, there have been multiple attempts by fraudsters who will try to steal funds or obtain customers' personal information using these online channels," said Chervain Stuart, senior manager, retail banking. "In Cayman, we are equally at risk."

Stuart urged customers to take steps to verify the legitimacy of any email, website or app. She said online criminals have become more skilled at creating fake websites and mobile applications that appear identical to legitimate ones. Some may even go as far as selling or attempting to sell knock-off versions of the site’s products.

“It is difficult to provide a full list of methods that are used to scam customers and therefore we urge vigilance all around," Stuart said. "If there are one or more errors in the email correspondence or any other suspicious content that appears while browsing, users should immediately exit the email, site or app."

This article was first published in the July/August issue of Camana Bay Times.

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