About The Central Bank of The Bahamas

The Central Bank of The Bahamas, is the statutory agency charged with formulating and executing monetary and financial sector policies in The Bahamas,in a manner that fosters the stability of the environment and supports the orderly development of the economy. This includes pursuing policies that safeguard the value of the Bahamian dollar, fixed at parity against the United States’ currency.The Bank is the sole issuer of Bahamian currency; provides banking services to the government and domestic banks and manages the external reserves of the country. Its mandate extends to regulation and supervision of banks and trust companies, credit unions, payments services providers, and the credit bureau. The Bank also advises the government on monetary and financial sector issues, and provides broad support in public debt operations, functioning as registrar and transfer agent for domestic securities issued by the Government.

Overview of Executive Professionals (EP) Programme

The Bank established the Executive Professional Programme to attract highly educated and motivated applicants with strong career prospects and interests in central banking, financial sector regulation and public policy. Each year, the programme will select a small number of university graduates with moderate or no work experience, who have the potential to be integrated into mid-management level technical positions within the Bank. These persons will be placed in career paths to become economists, statisticians, regulatory policy analysts, bank examiners/analysts, financial analysts and IT specialists. They would be expected to contribute meaningfully to work-streams within the Bank’s Strategic Plan, covering economic research/statistics, financial supervision/regulation, policy development, investment/financial analysis and information technology. Their professional development plan will involve participation in local and international training, workshops and seminars,and rotational work assignments across key departments of the Central Bank.

At the conclusion of a three-year period, successful EPs will be eligible for a permanent placement within the key operations or policy units of the Bank.

Structure of Programme

To be considered for the EP programme, candidates are expected to have qualifications and experience up to the Masters Degree level in at least one of the following disciplines:

• Economics
• Mathematics
• Computer Science/Information Technology
• Statistics
• Finance
• Law
• Public Policy

Professional designation also considered on par with graduate qualifications CPA,CFA or admission to The Bahamas Bar.

Regardless of degree specialisation, candidates must have pursued courses that exposed them to rigorous quantitative and statistical methods at the graduate level, and at least undergraduate exposure to economic principles.

Candidates chosen for the EP programme, follow a comprehensive training plan and develop competencies needed to contribute in a meaningful way to the Central Bank’s core operations. In addition, each candidate is paired with direct supervisor and a mentor, who have a similar academic and professional background as the EP1.

Up to three (3) EPs are chosen each year. The EPs are required to work as a team on a number of key projects for the Bank during their one-year rotation in various departments, in order to obtain valuable “hands-on” experience. In addition, each EP are required to work individually on a specific project; based on the needs of the relevant Department, which may require them to supervise the work of other staff members within the Bank. Specialized training sessions and presentations are provided, to assist EPs in, inter alia, formulating career strategies.

Eligibility

In order to be considered for the EP programme, potential candidates must meet the minimum requirements outlined as follows:

• Be a citizen of The Bahamas or resident with the right to work in The Bahamas; and 30 years of age or younger by 31st December, 2024.
• Have completed a minimum of a Masters Degree in one of the specified disciplines within the last three years; or have an anticipated completion date that is no later than 31 July 2024.
• Have no more than two (2) years relevant experience since the completion of graduate studies. 
• Have excellent analytical and quantitative skills.
• Have available a completed research paper (from Master’s or PhD thesis course).
• Be able to join the Bank on a full-time basis no later than 2nd September of the recruitment year.

How to Apply

Applications for the EP programme should be made via email to the address:https://www.centralbankbahamas.com/career/executive-professionals-programme. All applications will receive a unique tracking number. This number should be utilized in any subsequent correspondence regarding their application.

Interested persons can also obtain updates regarding the EPP through the Bank’s social media pages

Expectations at the End of the Programme

At the end of the three-year period, EP recruits should have gained a deep understanding of the various professional work streams of the Bank, and have developed strong team working skills. For further career progression in the Bank,recruits will have acquired or developed strong supervisory and management skills, to function in leadership roles within the organisation.

Coaching and Mentoring

Each EP is assigned a supervisor/mentor, who has significant knowledge of the EPs field of study, as well as the operations of the Bank. EPs are also assigned peer advisors to help them understand the expectations of the organization.

Compensation and Benefits

EPs receive a salary that is competitive with the market for mid-level professionals at the Bank, based on their education and relevant work experience.On recruitment EPS are eligible to immediately enrol in the Bank’s comprehensive health care plan. Once they complete their initial six-month probationary period,they are eligible for other benefits, including a defined contribution pension plan.

Recruitment and Selection

EPs are subject to a preliminary screening by a specially convened panel, which may include the Governor or the Deputy Governor, along with mid-level professionals from across the Bank in the respective applicants’ fields of specialisation, and representatives from the Human Resources Department. They may be required to perform a short test, to assess their writing and analytical test.If shortlisted, candidates receive a final interview by the Bank’s Selection and Recruitment Committee, which is comprised of the Heads of Department of the Bank. The Selection Committee makes a final recommendation to the Governor for the approval of the EP’s application.

Frequently Asked Questions

What projects will I be involved in as an EP?

EP projects are designed to develop the candidate’s technical and leadership skills.As they rotate through the Bank, EPs will be assigned a wide range of tasks and projects, which fit the job description of junior/mid-management level roles.Assigned projects will reflect current research or development activities being undertaken within respective Departments; as outlined in the Bank’s Strategic Activities Plan.

What is the Career Path for EPs?

As noted, EPs are expected to be highly motivated, educated and experienced persons, who will be trained to eventually assume leadership roles within the Bank. The career path aligns principally with senior roles in the departments for Research, Banking, Exchange Control and Bank Supervision, including the following:

• Economist
• Statistician
• IT Specialist
• Regulatory Analyst/Specialist
• Financial Supervision Analyst/Specialist
• Bank Examiner
• Investment Analyst

Successful careers may culminate in senior management roles at the head of the respective departments, secondment to other government and regulatory agencies, or postings to international financial institutions.

How will the Central Bank Support the Development of EPs?

Participants in the EP programme are also be eligible to participate in training workshops/seminars hosted locally, regionally and internationally, with structured courses in areas such as:

• Central banking and monetary policy
• Public finance and public debt management
• Payments system and financial markets infrastructure
• Financial sector supervision and regulation
• Investment and management of foreign reserves

In addition to a supervisor and a mentor, EPs have access to a cadre of highly trained professionals, to assist them in their development, through presentations and meetings with EPs, as well as on-going guidance and support.

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

Yes, it may be possible to extend the age limit to 33 years; however this would only occur if a candidate possesses a Ph.D. 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 EP programme.

When will I receive an Offer?

All candidates for the EP programme will be informed of the outcome of their application by August. Candidates who are invited for an interview will receive formal notice of their application by July 12th and the programme will officially start during the first full week in September.