FREE ELECTRONIC LIBRARY - Dissertations, online materials

Pages:   || 2 |

«Internship Programme 2014 16 Gray Street, St. Clair, PO Box 1259, Port-of-Spain Institute of Banking and Finance of Trinidad and Tobago Internship ...»

-- [ Page 1 ] --

Institute of Banking and Finance of Trinidad and Tobago

Internship Programme


16 Gray Street, St. Clair, PO Box 1259, Port-of-Spain

Institute of Banking and Finance of Trinidad and Tobago

Internship Programme


About Us

The Institute of Banking and Finance of Trinidad and Tobago (IBF) is a not-for-profit local awarding

body, established in 1984, to assist the advancement of the banking and finance professions through

its offerings of professional educational programmes. The institute has two (2) main courses of study that are currently offered: the Certificate for Financial Advisors (Cert. FA) and the Diploma in Banking or DIB and also offers corporate training services, workshops and seminars.

IBF is governed by a Council which provides oversight and direction on professional programmes and courses of study. IBF has a CEO on board who is directly responsible for overseeing the delivery of its educational programmes and other services in addition to its administrative and operative functions.

The directors of IBF’s Council include nine (9) representatives who are nominated by the following organisations.

 One representatives nominated by each of seven (7) commercial Banks  A representative of the Central Bank of Trinidad and Tobago nominated by the Governor of the Central Bank of Trinidad and Tobago  A representative of the University of the West Indies, St. Augustine History IBF was established to promote and advance the banking profession and matters of interest to bankers by contributing to the continued development of the study and practice of banking. The primary objective was the development of professional education for bankers.

The idea of a school for bankers was born in 1974 but remained in an ‘orphan’ state until the National Institute of Higher Education, Research, Science and Technology (NIHERST), founded in 1978, adopted the idea and hosted the first inter-bank seminar in October 1981. After several inter- bank working committee meetings, the agreement to formally establish the Institute of Banking of Trinidad and Tobago was signed on July 31st 1984.

By the end of the 1990's, the Institute had recognized that the rigid lines that once divided banking from the rest of the financial services sector had begun to fade. A special resolution was passed by Page 1 of 11 Institute of Banking and Finance of Trinidad and Tobago The Council to expand the mandate of the organization to include the wider financial sector and this was reflected in the name change from the Institute of Banking of Trinidad and Tobago to the “Institute of Banking and Finance of Trinidad and Tobago.” Our Mission “To facilitate the continuous development of banking and finance professionals and to promote high standards of knowledge, skills and conduct to meet the demands of a changing financial industry.” Our Vision “To be the preferred learning Bank for Financial Service Professionals”


IBF would like to introduce an Internship Programme in partnership with The University of the West Indies (UWI), St Augustine and our Member Banks. The Bankers Association of Trinidad and Tobago (BATT) has sanctioned IBF’s launch of this programme with the consent and support of the UWI. The goal of this Programme is to provide an opportunity for full-time undergraduate students enrolled in The Faculty of Social Sciences in the Department of Management Studies and Department of Economics to gain employment experience with Member Banks after graduation. We would like to consider students majoring in the following programmes: B.Sc. Accounting, B.Sc.

Banking & Finance, B.Sc. Insurance & Risk Management, B.Sc. Management Studies and B.Sc.

Economics. This internship experience will take place during academic breaks which include Christmas and summer vacations and will allow these students an opportunity to gain work experience in jobs that are relevant to their major at their qualification level. The enrolment with IBF for the internship will begin during the student’s first academic semester of their second year in their degree programme at UWI.

The IBF Internship Programme will be beneficial to students in two ways:

1. Students will enhance their academic learning by being employed in a financial setting and be able to be double banked with an experienced banker during their period of training, thereby allowing them to put into practice theoretical coursework covered in their respective programmes.

–  –  –

2. Our member banks may exercise the option to offer their interns from UWI, full-time employment at the end of their internships prior to graduation (based upon availability).


Students will have the opportunity to apply theory to practice in the banking field. These internships are designed with structured learning outcomes that will give students a competitive advantage in the

workplace. They will be able to enhance their skills and competencies in the following areas:

 Organizational Values Logical Thinking  Critical Analysis  Listening  Ethics  Technology and Application  Communication  Problem solving  Conflict resolution  Motivation  Leadership

Students will also be able to develop banking technical competencies which include:

 Meeting with and interviewing corporate and personal customers, discussing their financial requirements, and providing other appropriate financial advice  Monitoring accounts  Assessing and reviewing financial statements  Authorising and evaluating overdrafts and loans including mortgages  Preparing of credit proposals and other banking services instruments  Preparing lending agreements  Promoting the bank's products and services  Problem solving and planning

–  –  –

 Writing reports  Managing projects  Maintaining records  Recruiting, training and supervising junior banking staff


All students must be enrolled as second year students in The Faculty of Social Sciences in the Department of Management Studies and the Department of Economics with a declared major in the following programmes: B.Sc. Accounting, B.Sc. Banking & Finance, B.Sc. Insurance & Risk Management, B.Sc. Management Studies and B.Sc. Economics. UWI can also recommend a student to be part of the Internship Programme who is not enrolled in the Faculty of Social Sciences if the University is of the view that the student has the capability and potential to be part of the programme. Specific criteria will be communicated to IBF by our Member Banks however we have provided a general list of requirements.

Undergraduate applicants must meet the following criteria:

 Enrolled full-time/part-time at UWI  Students must be starting their second year of study  Students must have fulfilled academic requirements up to their second year of study  Must have declared a major in one of the following programmes in The Faculty of Social

Sciences in the Department of Management Studies and the Department of Economics:

 B.Sc. Accounting  B.Sc. Banking & Finance  B.Sc. Insurance & Risk Management  B.Sc. Management Studies  B.Sc. Economics  Possess a minimum 3.0 GPA on a 4.0 scale  Official Transcript NB – The Internship Programme is open to all nationals in the Department of Management Studies and the Department of Economics.

–  –  –


Remuneration/compensation will be at an agreed rate among our Member Banks and communicated in the offer letters to students prior to their internship.


The summer internship will be approximately twelve (12) weeks while the Christmas internship will take place over a shorter period. The exact months during which the programme will take place will be at the discretion of the employer. These start and end dates will be provided by the employers in the offer letters sent out to successful candidates for internships.


Interns will be advised by the member banks of their working hours upon acceptance in their offer letter distributed.


Students will be shortlisted and notified by their internship employer by the end of their internship prior to graduation with a decision on whether or not he/she received a full-time offer with that Bank based upon performance.


The departments within the Banking field in which interns will be placed include:

 Retail Banking Retail banking, also known as consumer banking or personal banking is the “face” of banking to the general public. Most banks have branches that are located throughout many regions.

Most retail banking is conducted by separate divisions of banks since the numbers of banks that focus primarily on retail clients are comparatively few. Customer deposits accumulated by retail banks are a crucial source of funding for most banks.

–  –  –

 Wealth Management Wealth management is an investment-advisory arm of banking that incorporates a number of financial services that are targeted towards high-net-worth individuals, small-business owners

and families, all of whom desire the assistance. Some of these financial services include:

financial planning and investment portfolio management. This group of clientele also requests that wealth managers coordinate retail banking, estate planning, legal resources, tax professionals and investment management to suit their financial needs.

 Trust and Asset Division This division manages assets on behalf of individual and corporate clients and seeks to fulfil

its customers’ investment needs. Some services provided by this division of banking include:

 Pension Administration Services  Custody Services  Employee Savings Plans  Profit Sharing Plans  Mutual Funds  Individual and Corporate Retirement Plans  Asset Management Services for Pension Plans  Asset Management Services for Individuals  Credit Risk/Compliance The Credit Risk and Compliance Departments manage risk by providing a strategy for organizational risk management. These departments also validate to professional bodies that the risk management processes are adequate, effective and comply with accepted risk management standards. They are also responsible for the co-ordination and facilitation of

specialized operational risk management processes which include:

 Business continuity risk management  Occupational health and safety management  Compliance risk management.

–  –  –

 Corporate Corporate banking, also known as business banking, refers to the arm of banking that serves corporate customers. Corporate banking is a key profit generator for most banks and also serves as the biggest originator of company loans.

 Finance

The core functions of a bank’s Finance Department include:

 Understand a bank’s financial statement - banks financial statements are typically the reverse of normal financial statements i.e. customer deposits are liabilities to a bank and customer loans are its assets.

 Oversee policies and procedures to ensure that all banking transactions are properly recorded in the bank’s general ledger.

 Evaluation of the bank’s return, risk and overall performance. (Calculate and use ratios such as Net Interest Margin, Return on Asset, Return on Equity, NIX ratios i.e.

operating efficiency, Asset Utilization, Leverage and Liquidity.)  Asset and liability management and the yield curve, time value of money and interest rate sensitivity, the duration gap and yield to maturity of the bank’s assets and liabilities.

 Measurement and providing for reserves and liquidity, capital adequacy rules and ratios and managing the bank’s capital requirements.

 Monthly regulatory reporting to the Central Bank.

 VAT and corporation tax computation and filing to the BIR.

 Financial and management reporting to the board, SEC and shareholders.

 Management of quarterly and annual audits.

 Marketing

–  –  –


How can students apply?

IBF will employ a number of marketing mediums to raise awareness among the targeted students at UWI, St. Augustine. Some of these mediums will include banners at UWI, an information booth, advertisements through the Student Guild, the Finance and Management Societies and through lecturers. We would then like students to provide their resumes along with a cover letter stating the reason for their interest in the Programme why they should be accepted into the Programme. These documents should be submitted to Ms. Christine Sahadeo, Senior Lecturer/Deputy Dean, The University of the West Indies, St Augustine (who will serve as a liaison with IBF for the Internship Programme).

Timeline for student’s application:

Students will be advised by IBF on the timeline for the submission of their applications for consideration.

–  –  –

Process for Candidate Consideration:

Eligible students will be invited to an interview with The Academic and Quality Assurance SubCommittee (AQASC) of IBF after which IBF will provide the names of successful students to our Member Banks. Once IBF has a complete list of accepted students by our Member Banks, we will provide this confirmation information to UWI. Successful students will be placed with one bank for the duration of their time in the Internship Programme. Expectations for each student will be outlined in detail.

Pages:   || 2 |

Similar works:

«2 2 BORN OF INTEGRITY. Bank of Labor is the modern evolution of nearly a century of labor banking experience. From its roots as a labor community bank to its potential as a modern international financial institution serving North America’s labor movement, Bank of Labor is unique in its expanded mission to serve the financial needs and shared values of all of organized labor. From its remarkable endurance of the catastrophic meltdown of America’s economy during the Great Depression—a...»

«Impact Assessment of Investment Portfolios for Business Case Development of the Nairobi Water Fund in the Upper Tana River, Kenya February 2015 Authors J.E. Hunink P. Droogers Client The Nature Conservancy (TNC) Report FutureWater: 133 FutureWater Costerweg 1V 6702 AA Wageningen The Netherlands +31 (0)317 460050 info@futurewater.nl www.futurewater.nl Preface After having launched successfully several Water Funds in Latin America and the United States, The Nature Conservancy (TNC) has started...»

«  Theodore Joyce, July 2016 Theodore Joyce Office: Baruch College Department of Economics and Finance Box 10-225 55 Lexington Ave, Box New York, New York Phone: (646)-312-3541 Fax: (646) 312-3451 Office: National Bureau of Economic Research, Inc. 5 Hanover Square, 16th Fl, Suite 1602 New York, New York 10004 Phone: (917) 261-3134 E-mail: theodore.joyce@baruch.cuny.edu Education Ph.D. in Economics, City University of New York Graduate Center, 1985 Fields of concentration: Labor and Health B.A.,...»

«The relationship between strategic leadership and strategic alignment in high-performing companies in South Africa by LORRAINE WENDY LEAR submitted in accordance with the requirements for the degree of DOCTOR OF BUSINESS LEADERSHIP at the UNIVERSITY OF SOUTH AFRICA GRADUATE SCHOOL OF BUSINESS LEADERSHIP PROMOTER PROFESSOR ERNST NEULAND FEBRUARY 2012 i Declarations Student number: 638-969-4 I declare that ”THE RELATIONSHIP BETWEEN STRATEGIC LEADERSHIP AND STRATEGIC ALIGNMENT IN HIGH-PERFORMING...»

«OCTOBER TERM, 2007 1 (Slip Opinion) Syllabus NOTE: Where it is feasible, a syllabus (headnote) will be released, as is being done in connection with this case, at the time the opinion is issued. The syllabus constitutes no part of the opinion of the Court but has been prepared by the Reporter of Decisions for the convenience of the reader. See United States v. Detroit Timber & Lumber Co., 200 U. S. 321, 337.SUPREME COURT OF THE UNITED STATES Syllabus UNITED STATES v. SANTOS ET AL. CERTIORARI TO...»

«Microfinance and development finance in India: research implications J. Copestake This paper appraises options for research relating to microfinance in India, doing so in the broad context of rival macro pressures to accelerate economic growth, maintain political order, reduce poverty and adapt to climate change. This paper first set out a general well-being regime framework that can be used for this analysis and sketch the role microfinance plays within it. Section 2 uses it to inform a brief...»

«Lack of Integrity among Ghanaian Accounting Academics: Upshot on Employers’ Operational Costs Emmanuel B. Amponsah Valley View University School of Business, Ghana Peter Agyekum Boateng Valley View University School of Business, Ghana Luke N. Onuoha Babcock University Business School, Ghana This paper studied how lack of integrity by accounting academics impacts increased-cost-of-operations of universities in Ghana offering accounting degree programmes. Using cross-sectional survey, data...»

«Chapter 2 More Terminological and Methodological Problems in Measuring Happiness, Life Satisfaction and Well-Being: Some First Empirical Results Anna Maffioletti, Agata Maida and Francesco Scacciati 2.1 Introduction In spite of the abundance of literature on happiness economics (and surroundings, such as life satisfaction and well-being),1 we believe that quite a number of terminological and methodological problems have not been solved yet: we will cope with some of them in this study. 2.2...»

«Shifting Sands Strategy Guide Overview Shifting Sands is a low-resource game with a shifting map and a shifting economy. The map can shift because you start the game with map-altering techs like engineer, doomsday, and builder. The economy can shift because you sorely need both colony and terraformer techs but cannot have both at the same time. For the endgame (BR 4 or 5), a final shift to jumpgate is possible, but only at a terrible cost. Not only are jumpgates expensive (consumed after a...»

«Central Bank Independence and Credibility During and After a Crisis* by Alan S. Blinder, Princeton University Griswold Center for Economic Policy Studies Working Paper No. 229, September 2012 * Paper presented at the 2012 Federal Reserve Bank of Kansas City Economic Policy Symposium, The Changing Policy Landscape, in Jackson Hole, Wyoming, on September 1, 2012, and is forthcoming in the conference proceedings volume. Alan S. Blinder Jackson Hole Symposium, September 1, 2012 Central Bank...»

«MORECAMBE TOWN COUNCIL Minutes from the Finance and Management Committee Meeting held on Monday 13th June 2011 At Morecambe Community Fire Station Councillors Present: P. A. Heath (Chairman), J. Ashworth, S. Burns, R. Dennison, J. Hanson, D. Kerr and P. Kerr Also in attendance: Councillor R. Plumb Officer in attendance – David Croxall – Clerk to the Council 1. Apologies for Absence – There were no apologies for absence. 2. Declarations of Interest. None Minutes of meeting held on...»

«Let’s Change India I ndia is passing through an incredibly challenging period in its economic advance. If vital indicators are any sign of the health of the economy, India is ailing. Even the intellectual moorings of our economic crisis have been dislocated. Advocates of enlightened economic growth are painted as heartless elitists, baying for more wealth disparities. On the other hand, those who push for unsustainable doles are dressed up in saintliness. But that is no reason to surrender to...»

<<  HOME   |    CONTACTS
2016 www.dissertation.xlibx.info - Dissertations, online materials

Materials of this site are available for review, all rights belong to their respective owners.
If you do not agree with the fact that your material is placed on this site, please, email us, we will within 1-2 business days delete him.