Danielle Hennings, who is responsible for community engagement at Cayman Finance, gives her advice on the best career path into Cayman’s financial services industry.
Growing up in the Cayman Islands we are especially proud of our tourism product: our beaches, marine life, flora and fauna.
Perhaps less noticeable, but equally important, is our financial services industry and its contribution to our local economy.
The Cayman Islands has a reputation as a reliable and well-regulated international financial centre. And our financial services industry is a great place to start when thinking about your career prospects.
There are numerous ways to pursue a career within the industry.
Many of the world’s leading law, accounting and advisory firms are based on island and offer competitive salaries and benefits. These professional services firms provide customised, knowledge-based expertise in finance, insurance, law, accounting and management to clients.
TRAINING OPPORTUNITIES
This can all sound very abstract, and you may be wondering if a career in the industry is the right fit for you.
Most high schools offer business studies, accounting or economics as exam subjects. Any of these subjects could give a first indication.
To explore further what it would be like to work in a financial services firm, most companies provide summer internships.
Additionally, each year Cayman Finance offers its LEAD (Learn, Educate, Apply, Develop) programme. This includes a series of workshops, mentorship and an internship at one of our member firms, with the goal of educating high-school students on the financial services industry and the career opportunities within it.
In my opinion, one of the best routes to getting into the industry is to pursue a degree in a field that will secure you a job opportunity: business, economics, accounting, law and cybersecurity are a few of the many options that come to mind.
Cayman’s financial services industry provides more than $1.8 million per year towards scholarships, internships and training for Caymanians. For students who worry about having the financial means, a scholarship could be the key to pursuing tertiary education.
JOINING A FIRM
After studying a relevant course at university there will be opportunities within the industry.
To make yourself an even more competitive candidate, you can pursue a professional designation. For example, an accounting major may become a certified public accountant, which gives the ability to work in public accounting.
Starting your career at a professional services firm in Cayman has excellent benefits. In many cases, you could be working for a multinational firm that has a global network and reach, with potential placements overseas.
The opportunities for advancement and career progression within the industry are clear.
Your first step is meeting the educational and professional qualification requirements. Next is on-the-job training where you will learn what it takes to do your job well. If you possess a strong work ethic, add value, and exceed expectations, you will have the opportunity to progress.
FIND OUT MORE
Don’t just take my word for it, apply for an internship and see for yourself. Check out Cayman Finance’s website and member directory, where you can find a list of Cayman
Finance members.
Navigate to each member’s website to find out more information on internship and scholarship opportunities. And, if you are a high school student looking to learn more about the industry, apply for our LEAD programme.
Born and raised in the Cayman Islands, Danielle is a proud product of both the public and private school systems. After graduating from St. Ignatius, she was awarded a scholarship from Deloitte which allowed her to pursue her higher education at Penn State University. There, she earned her bachelor’s with distinction and master’s degrees in accounting. Danielle returned home and began her career at Deloitte in 2017 and she qualified as a certified public accountant in 2018.
“THERE ARE SO MANY OPPORTUNITIES AVAILABLE FOR YOUNG CAYMANIANS TO EMBARK UPON A CAREER IN THE CAYMAN ISLANDS FINANCIAL SERVICES INDUSTRY. IT IS HARD WORK TO GET THROUGH A DEGREE AND PROFESSIONAL QUALIFICATION IN YOUR CHOSEN PATH, BUT FOR THOSE WITH THE RIGHT AMOUNT OF DETERMINATION, IT WILL LEAD THEM TO A VERY REWARDING AND
FULFILLING CAREER.”– Cindy Hislop,
managing partner, Deloitte
CAYMAN FINANCE
Cayman Finance is a non-profit public-private partnership with the mission to enhance the success of its members, clients and the community. The organisation represents the Cayman Islands financial services industry locally and abroad.
Cayman’s financial services industry is a place where individuals and businesses from around the world choose to do business as a direct result of the strong regulatory framework, legal system and expertise. Financial services involve the investment, lending and management of money
and assets.
This article appears in the 2024 Compass Media Careers Guide.
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