MUFG and WORC offer Caymanians fund administration internships

From left, Lenin Perumalsamy (MUFG), Paul Puckerin (WORC), Susan Eden (MUFG), MUFG intern recipient Robia McField, Katherine Whittaker (WORC), Dianne Conolly (WORC) and Fijona Jaggernauth (MUFG).

Workforce Opportunities & Residency Cayman (WORC) is partnering with MUFG Investor Services to provide paid internships and apprenticeships for young Caymanians in the financial services industry.

MUFG Investor Services’ Executive Director Lenin Perumalsamy said in a press release he would like to see the programme grow steadily and meet the longer-term goals of organically developing skilled workers and professionals within the local financial services industry.

Interns are trained in the firm’s technology platform and in their day-to-day duties reconcile cash-positions between brokers and administrators.

“These reconciliations give insight into investments/securities and the cash flows. This is the fundamental knowledge interns acquire before moving into other areas of data management,” Perumalsamy said. “Upon completion of their Internship, successful candidates will be provided an apprenticeship for up to two years.”

During apprenticeship, candidates will develop knowledge on trade capture, pricing investments, followed by exposure to Net Asset Value (NAV) preparation and publishing.

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“All these middle office skills are quite rare in the local community and we are trying to plant these skills with the hope of delivering an end-to-end Cayman product,” he added.

Katherine Whittaker, head of Labour Demands, Development & Training said, “WORC is pleased to have had the opportunity of partnering with MUFG Investor Services to provide Caymanians with Internships and Apprenticeships within funds administration.

“Thanks to those at MUFG Investor Services and their dedicated staff, we have seen Caymanians grow from nervous Interns to driven individuals who have been mentored and guided towards full-time employment.”

Young Caymanians interested in internship opportunities at financial services firm MUFG Investor Services should contact WORC’s National Training & Development Unit by calling 244-4048 or email [email protected].

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