A new training initiative offering post secondary education for investment and financial services was formally launched this week at a ceremony at City Hall.

The RCA Bermuda Compliance Certification Programme (RBCC), the result of a partnership between the Bermuda Government, the Bermuda College and the New York-based Regulatory Compliance Association, was formally announced last year.

George Thomas Jr, chairman of the committee which oversaw the development of the programme, said: “The programme is aimed at increasing career opportunities for Bermudians as well as increasing Bermuda’s capacity to meet the growing demand for compliance professionals in the global marketplace.

“Our vision, which may be bold, is that some Bermuda companies will recruit promising high school graduates into newly created compliance apprenticeship roles, leveraging the first level of the RBCC to enhance training.”

A government statement said the courses will be online, and offer students diplomas, advanced diplomas and professional certifications. Prospective applicants do not need an undergraduate degree, but must have a high school diploma and either relevant work experience or a relevant professional certification.

The cost of the programme ranges from $1,750 for a first level diploma to $8,000 for the most senior professional certification, however it was announced that RCA has donated a total of 150 scholarships for qualified applicants to enrol in the Bermuda programme.

Michael Dunkley, the Premier, said: “This programme is the first of its kind in any offshore jurisdiction. Its ultimate success will be achieved through the continued support and active engagement of the Bermuda business community.”

Meanwhile Grant Gibbons, the Minister of Economic Development, urged business leaders to encourage their staff to enrol in the programmes and hire employees who have obtained certifications through the Bermuda programme.

“For those students in the programme that do not have prior experience in compliance, we need employers to create opportunities that will allow them to gain experience through internships, apprenticeships or other positions that will enable growth over time,” Dr Gibbons said.

The RBCC is scheduled to begin on April 11, with applications to register due at the Bermuda College by March 11. Those applying for scholarships for the April start date must submit their applications by February 28.

As the programme will be online and self-paced, students will have the flexibility to start the programme at a later date.

More information about the programme and required applications are available at www.gov.bm or www.college.bm.