Bank turns college grads into future managers
The Bank of Butterfield is proving a successful launch pad for Bermudians fresh out of college but undecided about their future career goals.
People with first degrees are invited to join the programme which is designed to provide the bank with trained Bermudians who will become management level employees.
Human resources senior vice president Patricia Bean coordinates the programme in conjunction with the selection committee.
She said: "It's a wonderful opportunity for a Bermudian person directly out of university.
"Our objective is to have a stream of Bermudians who are well trained and are able to take on management level positions.'' Participants undergo intensive hands-on training aided by mentors and the bank's president Calum Johnston.
Fresh out of college with a bachelors in business administration, 22-year-old Wesley Hall began the programme about a week ago and said he liked it because of the guidance he received from his superiors.
"You are not just thrown in to sink or swim.
"It's more like you go in there and you have somebody that's always there to help you,'' he said.
And Sharita Williams, who is part-way through the programme, said she valued the hands-on assistance she received.
"It was a structured programme.
"You did not just come back from university and just get a job.
"It was something where they groomed you into becoming future management and that enticed me.
"They are behind you in every sense of the actual programme.
"They actually put you in different areas of the bank -- three months in retail area, three months in the back office and a whole year in the internal audit department.
"There are actual steps instead of if I just went to an insurance company to become a claims officer.
"I would just be a claims officer -- there is no future in a sense.'' Another feature which received praise from participants was the mentoring arrangement which sees each student assigned to a mentor whom they report to in writing each month.
Alex Werther, who has completed the programme, said: "One of the good things about the mentors is that they are not your direct-line management, but they are fairly high up in the organisation.
"So if you have any questions, you can go to someone that's high up, but not necessarily feel pressured because they are not your direct-line management.'' Ms Williams noted that, as a woman, she appreciated having a female mentor to speak to.
"If I have any questions concerning female issues, I can talk to her because she has been there and done that.'' The mentoring agreement is intended to foster a networking environment which will follow the trainees throughout their time at the bank.
And Mr. Werther noted: "Because I have moved throughout the bank, you meet a lot of people, so when you really need something done you know who the right person is to call.'' The trainees also noted that the close-knit relationship they had with the president, who hosts a quarterly luncheon, was helpful and that they would not have such an opportunity at any other company.
Mr. Werther added that such a programme was beneficial to young Bermudians who were unsure about what they wanted to do after college.
And he noted that trainees were able to move around before committing to any one area.
"I think a great part of the programme is that if you are not entirely sure what you want to do, you really get to see a lot of areas of the bank before you make a final decision.'' Mr. Werther said the bank supported trainees furthering their education.
"I think the key benefit, aside from the work experience itself, has been that they support professional designations, like I'm doing CFA (Chartered Financial Analyst) and they foot the bill on that.'' Ms Williams is also being supported in her pursuit of her Chartered Management Accountant (CMA) designation.
She added that the banking world was a great place for a young person to get started.
"Even if you are not looking into staying at the bank, the banking industry is a great way to start out.
"I have talked to numerous top executives at XL and ACE and they started out at the bank.
"They've got ten years at the bank and now they are president of XL and president of ACE and it gives you that opportunity to start out.'' And while the trainees have had some wonderful experiences, they have also been presented with a number of challenges.
Ms Williams noted that these "definitely make you a stronger person within the bank''.