Press Releases

Training for the Finance Sector on the Isle of Man

Business News rightly highlighted the splendid opportunities for the Isle of Man in the transfer of banking sector jobs from the Channel Islands. This is only one part of many changes that are likely in the near future.

If the Isle of Man is to take full advantage of these opportunities it will require a large investment in staff development, both by employers and employees. "Upskilling" is required on large scale. Career progression and succession planning requires professional qualifications as well as experience. As the Treasury Minister has pointed out, there would be limited benefit to the Island if back-office jobs are relocated to Asia and India but the new skilled jobs could only be filled by skilled people who were imported.

The Isle of Man College and the International Business School are, together, very well placed to meet all the training needs of those within the sector. Training can be accessed at every level - from introductory workshops and certificates to Masters Degrees. But it is essential for all concerned that staff development is taken seriously is taken NOW. If companies and individuals postpone the critical training that is needed it will be too late. For individuals the promotion will have gone to those who did gain the professional qualifications. For companies the jobs will be relocated to the jurisdictions where training is taken seriously.

The message is simple - ACT NOW to take advantage of the training opportunities that we can offer; invest in your own and your employees future; be prepared and qualified for the new jobs that will come.

Ray Smith
Principal, Isle of Man College

Prof. Roger Carey
Director, Isle of Man International Business School