CENTRAL BANK APPRENTICE PROGRAMME (CBAP)

Central Bank Apprentice Programme (CBAP) is the entry level point for talented university graduates seeking a fulfilling career in central banking, public policy or financial regulation. Successful candidates will prove themselves capable of progressive career advancement focused on policy & research,regulation & supervision of financial institutions, financial analysis & investments, and information technology. This programme exposes candidates to lucrative career opportunities in the public and private sectors, and is strong preparation for graduate level studies in a diverse set of professions in economics, finance, banking, public policy and law.

OVERVIEW OF THE APPRENTICE PROGRAMME (CBAP)

The Apprentice Programme (CBAP) is a two-year training and developmental programme for highly educated and motivated Bahamian applicants. These applicants would have recently completed a Bachelor’s degree in one of the qualifying disciplines, performing well above average in their academic studies. They must demonstrate both the aptitude and interest in eventually pursuing a Master’s degree,other graduate level studies, or professional certification equivalent to at least the Master’s degree.1 Applicants must also have a drive to excel in a technically demanding environment, and be able to successfully compete for vacant positions within the Bank.

Annually, the Apprentice Programme selects a small number of university graduates, according to the average number of unfilled vacancies for entry-level recruits. APs are required to work as a team on a number of key projects in 6-month rotations though four selected departments. They are also be assigned technical assignments, based on the strategic work streams of the departments to which they are rotated.

These include the following:

• Financial supervision and regulation
• Research and statistics
• Exchange control administration 
• Banking, payments and investment operations 
• Information technology and information security

As soon as they are hired, Aps are enrolled in the Central Bank’s Health Insurance Plan. After successfully completing the first six months on probation, APs become permanent staff eligible for a full range of other staff benefits, including participation in the Bank’s Defined Contribution Pension Plan. At the conclusion of the two-year apprenticeship period, and based on their qualifications, experience and the availability of suitable positions within the Bank, APs can apply for any vacant post or promotion that becomes available. Thereafter, they may also compete for in-service scholarships for full-time graduate studies,according recruitment priorities for technical specialists.

STRUCTURE OF THE PROGRAMME

Through the apprentice programme, the Central Bank intends to build a cadre of professionals with the potential to fill any position that becomes available. Successful candidates are expected to have the relevant qualifications in at least one of the key disciplines, namely:

• Accounting
• Banking
• Economics
• Finance
• Information Technology/Security
• Law
• Public Policy
• Mathematics
• Statistics

Successful candidates receive a comprehensive development curriculum upon the start of their engagement. Over a two year period, they participate in structured internal workshops and seminars,delivered by experienced staff. These exposures are designed to help build technical competence to progress key career paths within the Bank. APs also have access to the varied international training provided to the Bank’s staff. They are each be assigned a direct mentor/supervisor, a human resources (HR) support specialist; and a peer support advisor from among staff who have already successfully completed the programme.

ELIGIBILITY

To be considered for the apprentice programme, potential candidates must meet the minimum requirements as outlined:

• Be a citizen of The Bahamas.
• Be no older than 23 years of age by December 31st of the recruitment year.
• Hold at least a Bachelor’s degree in one of the specified disciplines with a high calibre academic record (Grade Point Average equivalent of at least 3.50 out of 4) ; with a completion or anticipated completion date that is no later than 31st July of the recruitment year.
• Have excellent analytical and quantitative skills.
• Be able to join the Bank on a full-time basis from 2nd September of the recruitment year.
• Have no more than one (1) year’s work experience since completion of undergraduate studies.

APPLICATION PROCESS

To apply for a positon at the Central Bank, eligible candidates should follow the steps below:

• Register general interest by completing the personal information form on the careers portal on the Bank’s website: www.centralbankbahamas.com/careers
• Select the CBAP job description and follow the on screen steps to apply.
• Provide the following additional information
  • CV and cover letter
  • Copy of final transcript or certificate (with evidence of degree granted)
  • A PDF copy of an undergraduate research paper completed in the applicant’s subject major
  • Names and contact of two references

Each applicant will receive a unique tracking number. This number should be utilized in any subsequent correspondence regarding their application.

If shortlisted, the applicant will be given an interview and be invited to complete a 40-45 minute writing test.

EXPECTATIONS AT THE END OF THE PROGRAMME

At the end of the two-year period, candidates should have gained a comprehensive understanding of the key technical work streams of the Bank and have developed new skillsets in these areas. They should have also strengthened their team working skills.

COMPENSATION AND BENEFITS

The starting salary for APs is set be competitive with similar positions elsewhere in The Bahamas job market. Once applicants successfully complete their initial six-month probation they are eligible for an increment in line with the Bank’s Performance Management Policy. On entry to the Bank Aps, are allowed to enrol in the employer-funded comprehensive health care plan. After the 6-month probation period, this eligibility extends to other benefits, including a defined contribution pension plan and tuition subsidies.

RECRUITMENT AND SELECTION

The Apprentice Programme will be governed by the Bank’s Recruitment and Selection Policy. Candidates are be required to submit applications through the Bank’s online applications portal (website address provided). If screened, applicants will be subject to a preliminary interview by a relevant Department/Unit Head, based on their field of study, a representative from the Human Resources Department and a committee of non-management peers from across the Bank. Short-listed candidates will be invited to a final interview with the Selection Committee, comprised of the Deputy Governor and selected Heads of Departments and another set of non-management peers. The Committee will make a recommendation to the Governor for the approval of the Apprentice’s application.

FREQUENTLY ASKED QUESTIONS

What projects will I be involved in as an AP?

Apprentice projects are designed to develop the participants’ analytical and technical skills at junior entry level roles throughout the Bank. As candidates rotate through the Bank, they are assigned a range of tasks and projects broadly consistent with those outlined in the Bank’s Strategic Plan.

What is the Career Path for Apprentices?

Apprentices are expected to be highly motivated, above average achievers, who will be trained to eventually assume functions within the Bank as such as those below:

• Bank Supervision Analysts
• Bank Examiners
• Exchange Control Officers
• IT Programmer and Analysts
• Information Security Officers
• Financial/Investment Analyst
• Regulatory Specialist/Attorney
• Policy Analysts
• Statisticians
• Economists

How will the Central Bank Support the Development of APs?

Participants in the programme are eligible to engage in relevant local and international training workshops/seminars. In addition to a supervisor/mentor, APs also have access to a cadre of highly trained professionals to assist them in their development, through presentations and meetings with, as well as ongoing guidance and support of the HR Department.

Is there any flexibility when it comes to the Age Limit for the Programme?

Yes, it may be possible to extend the age limit beyond 25 years; however this would only occur in exceptional cases, such as if a candidate is working towards a Master’s degree in an area which is relevant for the programme.

Should any Additional Documentation be submitted with the Application Letter?

Please visit the Bank’s website at: www.centralbankbahamas.com/careers for a listing of the documents which should be submitted for the CBAP.

When will I receive an Offer?

All applicants from the CBAP will be informed of the outcome of their application by October.Candidates who were invited for an interview will receive formal notice of their application by 31st July and the programme will officially start during the first full week in November.

I do not meet the minimum criteria. Can I still apply for a position?

This opportunity is highly competitive. If you do not meet the minimum criteria for the Apprentice Programme you can still applying for other advertised job openings at Central Bank. Please create a profile that you can use to apply for many other exciting openings. Continue to monitor the Bank’s website until a position opens up for which you feel qualified to apply.