FSC tackles talent crunch
By News On Sunday
Published on 1st August, 2008
The Financial Services Commission has launched a Young Graduate Development Programme that will offer graduates an opportunity to gain first hand exposure to the financial services sector.
This is the first step in the concern about a “talent crunch” rapidly expanding in the sector. The programme is being implemented for the first time since the setting up of the FSC in December 2001. The one-year non-renewable programme has been especially designed using a mix of both practical hands on experience and structured training sessions, including lectures, seminars, workshops and real-life case studies to enable the trainees gain a deeper knowledge of the Commission’s functions ranging from regulation to supervision and enforcement.
Chief Executive Officer of the FSC, Milan Meetarbhan says: “We received a total of 560 nominations,and we finally selected 20 young people according to their academic results and rigorous selection process.”
“The idea is to place students in real work situations to supplement the theoretical training received at the university. The financial sector is booming and we are short of qualified staff - which is a major problem for companies and offshore sectors to grow," he adds.
The YGDP is open to final year students from both the University of Mauritius and University of Technology, graduating in a wide range of fields such as Accounting, Economics, Finance, Law, Management and Information Technology.
The successful recruits will receive Rs 12 000 per month (plus transportation allowance) throughout their training process and will be closely supervised and coached by experienced inhouse specialists as well as industry experts.
At the end of the programme, the graduates will be expected to have gained the necessary skills, knowledge, competencies and aptitudes required to form a solid foundation on which to build their careers.
The Financial Services Sector is poised to become a vital pillar of our economy over the coming years with growth rate from 5.4 % in 2005 to 7.3 % in 2007, which is expected to reach 7.6% this year.
The FSC feels that such exposure in the training of young graduates would be a vital step to cope with the challenges as far as human capital is concerned.
Chief Executive Officer of the FSC, Milan Meetarbhan says: “We received a total of 560 nominations,and we finally selected 20 young people according to their academic results and rigorous selection process.”
“The idea is to place students in real work situations to supplement the theoretical training received at the university. The financial sector is booming and we are short of qualified staff - which is a major problem for companies and offshore sectors to grow," he adds.
The YGDP is open to final year students from both the University of Mauritius and University of Technology, graduating in a wide range of fields such as Accounting, Economics, Finance, Law, Management and Information Technology.
The successful recruits will receive Rs 12 000 per month (plus transportation allowance) throughout their training process and will be closely supervised and coached by experienced inhouse specialists as well as industry experts.
At the end of the programme, the graduates will be expected to have gained the necessary skills, knowledge, competencies and aptitudes required to form a solid foundation on which to build their careers.
The Financial Services Sector is poised to become a vital pillar of our economy over the coming years with growth rate from 5.4 % in 2005 to 7.3 % in 2007, which is expected to reach 7.6% this year.
The FSC feels that such exposure in the training of young graduates would be a vital step to cope with the challenges as far as human capital is concerned.