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Immigration Framework is Changing on 1 May 2026—Here’s What’s New

Mon, 20 Apr 2026 20:31:41 GMT

The main updates to work permits, fees, compliance obligations, and mobility, with practical implications for Cayman businesses.

The Cayman Islands government has officially gazetted the Commencement Orders, signalling that significant amendments to the immigration framework under the Caymanian Protection legislation will take effect from 1 May 2026.

Following a thorough review of the new legislation and updated guidance from Workforce Opportunities & Residency Cayman (WORC), this article outlines the principal changes and explores their practical implications for businesses and organisations across the islands.

At This Stage:

Some of these requirements are being introduced through updated forms and administrative processes, which are still being finalised
Further clarification is expected from WORC, including through anticipated guidance and FAQs

Practical Implication:

We recommend that employers:

Maintain visibility of employees who hold Permanent Residence or Status
Ensure that any changes in employment, role or circumstances are appropriately tracked
Engage early where advice is needed, particularly in the initial years following grant

The updated immigration framework brings stronger compliance, monitoring, and enforcement across all categories. Employers and stakeholders should expect closer scrutiny of job titles and classifications, which could affect fee bands and overall costs.

Some forms, processes, and system updates are still pending, so implementation may be delayed in the short term. The increasing complexity means early engagement and proactive planning are important to avoid setbacks and manage risk. As new guidance and updated forms become available, staying informed and adaptable will help organisations navigate the adjustment period. Legislative changes often require a flexible approach as practical processes take shape.

Stay Informed and Reach Out

If you have any immediate questions or concerns, please contact a member of the CML team. We encourage you to stay engaged and take advantage of our resources as these changes roll out.

As these changes impact not only immigration processes but also broader workforce planning, CML are here to support across recruitment, immigration and HR advisory, including workforce planning, job design and compliance support should this be of interest. We are committed to keeping you informed and ensuring you feel confident in managing these regulatory updates.

Cayman Islands: Proposed Immigration Fee Changes

Thu, 26 Mar 2026 18:39:34 GMT

A breakdown of proposed fee increases, annual obligations, and their implications for employers and residents in the Cayman Islands.

Disclaimer: This article is for general information only and reflects proposals as at the date above. It is not legal advice. Please contact your CML representative for up to date information as this situation progresses and changes come into effect.

Status: These changes were issued for public consultation and have not yet been finalised. If progressed, they may come into effect as early as 01 May, alongside related legislative amendments. While subject to change, the proposals represent a material increase in cost and administrative requirements—particularly for employers with staff who have dependants or who are approaching key residency milestones.

At a glance: Overall, the proposed changes would significantly increase government immigration costs and introduce new ongoing annual obligations, particularly for dependants of permanent residence (PR) holders and work permit holders.

What's Changing:

Filing and approval fees are increasing across most categories
New annual filing fees are being introduced (especially for dependants)
Costs now vary depending on work permit fee
There will be more ongoing tracking and administration required
There are no changes to annual work permit fees apart from proposed increase of SEZ permit fee to CI$8,100 from CI$1,230

Key Cat egories

Below is a high-level breakdown of where the proposals may affect costs, including notable increases and newly introduced annual fees.

What this means in practice:

Costs will increase, especially for families and senior employees
Dependants will now create ongoing yearly costs, not just one-time fees
More calculations are required due to the tiered structure
There is a higher risk of delays if incorrect fee bands are used

Stay in the Know

For the most current updates on these proposed changes, please contact your CML representative directly. If you are not already a client, we invite you to reach out — our team is here to help you navigate these evolving regulations and support your needs every step of the way.

Solving the 'Talent Gap': Process, Experience, and Unique Expertise

Fri, 06 Mar 2026 14:34:09 GMT

Solving the 'Talent Gap': Process, Experience, and Unique Expertise

In a competitive market like Cayman, the impact of hiring decisions is amplified. A great hire can move a business forward quickly, but a bad hire, or a role left unfilled for too long, can slow everything down.

More often than not, these challenges aren’t caused by a lack of effort or intent. They come down to something far more common: limited experience hiring for specialised roles, paired with processes that simply aren’t built for today’s fast-paced talent market.

If your internal team doesn't have a history of hiring for highly specialized finance, legal, or tech roles, you risk two things: hiring the wrong person or losing the right person because the interview process felt unprofessional or slow. Top-tier talent won't wait for a learning curve.

The CML Advantage:

This is where experience counts. With CML’s Recruitment Process Outsourcing solution , you’re not starting from scratch or relying on guesswork. We bring years of hands-on experience in niche markets, along with a structured, proven approach to hiring roles where the margin for error is small.

Proven Playbooks: We install a tested, professionalized hiring framework into your business on day one. No trial and error.
Deep Market Mapping: The best candidates aren’t always actively applying for jobs. We don’t rely solely on job ads; we build and maintain relationships within specialist talent pools every day. That insight allows us to identify, engage, and attract the right people — even when they’re not actively looking.

When a role is business‑critical, leaving it to chance isn’t an option. Leverage the right people, the right processes, and the right experience to ensure your next hire is a game-changer.

The HR Manager’s Secret Weapon: Moving from Survival Mode to Strategy

Fri, 06 Mar 2026 14:28:29 GMT

The HR Manager’s Secret Weapon: Moving from Survival Mode to Strategy

HR Managers are often the quiet backbone of the organization; on any given day, you’re balancing payroll, employee relations, culture, and everything in between. But when a hiring surge hits, "survival mode" kicks in and suddenly ‘busy’ turns into ‘drowning’. Resumes pile up, interviews stack back-to-back, and hiring decisions feel rushed. Something has to give and too often, it’s the quality and consistency of the recruitment process.

When you’re wearing too many hats, you lose the ability to think strategically, and it limits your impact. Screening hundreds of resumes and coordinating endless interview loops isn't a good use of a manager's high-level expertise.

Support that Strengthens, Not Replaces

This is where a different kind of support comes in. CML’s Recruitment Process Outsourcing solution is designed to work with internal HR teams, not to replace them. Ultimately, we operate as an extension of your existing function—aligned to your goals, your processes, and your employer brand.

You stay in control of the strategy and the decisions. We take care of the operational heavy lifting that otherwise slows everything down.

Reclaim Your Time: We handle the "noise"—the sourcing, the initial vetting, and the scheduling.
A Flexible Partnership: Hiring demands aren’t constant. Think of us as an extra pair of hands (multiple pairs of hands, actually, which is another added benefit) that you can dial up or down based on your current hiring needs.

You Don’t Have to Do This Alone:

Great HR work isn’t about doing everything, it’s about focusing on what matters most. With the right support in place, recruitment stops being a constant fire drill and becomes a process that actually works for you. By bringing in a partner to handle the heavy lifting of recruitment, you can turn your focus to what matters most: Strategic decision-making for your people and your culture.

Smart Scaling: Why Growth Shouldn’t Mean More Overhead

Fri, 06 Mar 2026 14:11:38 GMT

Smart Scaling: Why Growth Shouldn’t Mean More Overhead

Growth is a good problem... until it slows you down

When a business hits a growth surge, the natural reaction is to scale the HR department to keep up. But for many C-Suite leaders in Cayman, adding permanent headcount to solve a likely temporary hiring spike could be a risky long-term commitment.

Traditional recruitment often becomes a bottleneck. Internal teams, no matter how capable, are rarely built to absorb sudden spikes in hiring volume. Filling 10, 20, or even more roles at once requires speed, focus, and mainly capacity that 99% in-house functions simply don’t have on standby. The result? Growth stalls because the "talent engine" isn't built for volume.

This is where a flexible approach makes sense. CML’s Recruitment Process Outsourcing solution is designed to decouple growth from overhead. Instead of hiring more recruiters, you "rent" a dedicated, high-speed recruitment function.

Scale the Output, Not the Office: You get the power of a full-scale recruitment agency integrated into your business without the permanent salary or benefits costs.
Maintain Momentum: We operate as a standalone engine, ensuring that your speed-to-hire keeps pace with your revenue goals.

Growth Should Feel Lighter, Not Heavier

Don't let a slow hiring process be the reason you miss your 2026 targets. Scale smart, scale fast and keep your focus on the big picture while we handle your hiring needs..

When Is It Time to Outsource HR and Payroll?

Thu, 26 Feb 2026 16:58:42 GMT

When Is It Time to Outsource HR and Payroll?

What to Consider as Your Organisation Grows

As businesses grow, the demands placed on HR and payroll rarely stay static. What once worked well for a small team can quickly become strained as headcount increases, regulations evolve, and operational complexity grows.

At CML, we work closely with CEOs and business owners across the Cayman Islands who reach a similar realisation: HR and payroll haven’t failed—but they’ve outgrown their current model.

Understanding when to make the shift to outsourced HR and payroll support is a leadership decision that can significantly impact risk, efficiency, and long term growth.

Why HR and Payroll Feel the Pressure First

HR and payroll are often the first functions to feel strain during periods of growth. Not because they are poorly managed—but because they sit at the intersection of people, compliance, systems, and leadership time.

As organisations scale, we commonly see:

Payroll becoming more complex and higher risk
Compliance shifting from manageable to nuanced
Recruitment slowing due to lack of structure
Leaders becoming increasingly involved in HR administration

These challenges are not warning signs of poor performance. They are indicators that the business has reached a new stage of maturity.

Key Signals It May Be Time to Outsource HR and Payroll

From our experience supporting Cayman businesses, several indicators consistently point to the need for external HR and payroll expertise:

Outsourcing HR Is a Strategic Decision, Not a Cost Shortcut

One of the most common misconceptions we encounter is that outsourcing HR and payroll is purely a cost driven decision.

In reality, it’s a risk and scalability decision.

The right HR consulting partner strengthens internal capability by bringing structure, consistency, and specialist expertise—without the overhead of building a full in house function prematurely. It allows businesses to scale with confidence, knowing that compliance, payroll accuracy, and employee experience are professionally managed.

Why More Cayman Businesses Are Choosing Outsourced HR Support

Operating in the Cayman Islands brings unique considerations—from regulatory requirements to workforce mobility and expansion planning. As organisations grow, relying on informal HR processes or overstretched internal resources becomes increasingly risky.

Outsourced HR and payroll support provides:

Proactive compliance aligned with Cayman regulations
Scalable support that grows alongside the business
Reliable payroll and benefits administration
Improved employee experience and confidence
Time back for CEOs and leadership teams

For many businesses, the move isn’t driven by crisis—it’s driven by foresight.

A Question Every CEO & Business Owner Should Ask

The most effective leaders don’t wait for HR or payroll challenges to become urgent. They act when complexity begins to outpace capacity.

The question is no longer whether HR and payroll will become more demanding as your business grows. It’s whether your current model is built to support what comes next.

CML Recruitment partners with CEOs, business owners, and leadership teams across the Cayman Islands to deliver outsourced HR, payroll, and recruitment solutions that reduce risk, improve efficiency, and support sustainable growth—allowing leaders to focus on building the future of their organisations.

Ask-Me-Anything on Proposed Cayman Islands Work Permit Changes

Tue, 04 Nov 2025 17:19:33 GMT

Ask-Me-Anything on Proposed Cayman Islands Work Permit Changes

Why we Hosted This AMA?

In response to recent proposed changes in Cayman Islands immigration policy specifically relating to work permits, our team recognized the need to provide clear, authoritative guidance directly from experts in the field. With many individuals and companies seeking clarity on how these work permit changes could affect them, we hosted a live Ask-Me-Anything (AMA) session to address your most pressing questions and ensure that no one is left in the dark. This AMA was designed as an interactive, 20-30 minute session, allowing participants to engage directly with our experts for real-time answers and practical advice. Please note: A future session will be held to address proposed changes related to residency.

Meet the experts

Our featured speakers for this insightful session were Juliette Gilbert and Louise Reed , both recognized authorities on Cayman Islands immigration matters. With years of experience navigating policy updates and helping clients adapt to regulatory shifts, Juliette and Louise provided invaluable perspectives on what these new work permit changes mean and how best to prepare. Their expertise ensured attendees left with actionable knowledge and greater confidence in planning their next steps

Watch the Full AMA Session

Missed the live webinar or want to revisit the answers to your questions? Watch the full 20-minute session in the embedded video below to hear directly from our experts and explore the timestamped questions we covered. Don’t miss out on this opportunity to stay informed and ahead of the curve regarding Cayman Islands work permit policy updates. For updates on residency policy changes, be sure to attend our upcoming session.

Questions we answered

02:36 - How will CML support its clients through these changes?

04:03 - Where does the Bill currently stand and what stage is it at?

05:32 - Will some of the sections of the current Bill be redrafted/changed before its formally published and finalized?

07:18 - Can you tell us about new job advertising rules -- What specifically is changing?

09:56 - Do we have any clarification on what structured feedback is?

10:38 - What exactly does prescribed media mean?

11:19 - Are there any changes to the income or financial requirements for adding dependents?

12:45 - Are there fines for providing false financial information?

14:43 - What are Term Limits and who do they apply to?

16:22 - How would term limits work in 2026 with spouses that have different expiry dates?

17:00 - Can employees change jobs under the same permit?

19:10 - What would be examples of extenuating circumstances or exemptions that would apply to these new permit rules?

19:53 - What happens if I break my employment permit within the first 2 years?

20:30 - If I complete a 2 year permit and leave to a new employer, do I need to commit to another 2 year permit?

Need Help? That’s What We’re Here For

Understanding and managing your Immigration obligations can feel overwhelming. If you’re unsure about your next steps, or want peace of mind knowing you’re doing things correctly, reach out to us. We’re here to help you stay compliant.

Holding Permanent Residency in the Cayman Islands? Here’s What You Need to Know to Stay Compliant

Wed, 23 Apr 2025 21:17:56 GMT

Holding Permanent Residency in the Cayman Islands?

Here’s What You Need to Know to Stay Compliant.

It’s important to remember that Permanent Residency comes with ongoing responsibilities. Missing just one key requirement could put your status at risk. Here’s a quick reminder of what you need to stay on top of — and how the team at CML can help.

Annual Declarations and Fees — Due Every Year on Your Permanent residency Anniversary

Once your Permanent Residency is granted, you are required to submit an annual declaration and pay the applicable fees every year on the anniversary of your Permanent Residency grant date. This obligation continues until you receive Caymanian Status, even if you’re not currently working.

It’s a common oversight — especially for people taking a break from employment — but unfortunately, it’s one that can lead to major issues. A missed deadline could result in penalties or even revocation of your Permanent Residency.

We recommend setting calendar reminders, and if you ever need help tracking or submitting your declaration, our team is always here to support you.

Only Work in the Role Approved in Your PR Certificate

When you’re granted Permanent Residency, your certificate will clearly state the occupation you are approved to work in . If your career path changes, or you’re offered a different position, you must apply for a variation of conditions and receive approval before starting the new role .

Working outside of your approved occupation — even temporarily — is a breach of your Permanent Residency conditions. But don’t worry, we’ve helped many clients successfully apply for variations, and we’d be happy to walk you through the process.

Know Your Conditions — and Protect Your Permanent residency

Please be aware: Permanent Residency can be revoked if conditions are not met.

That’s why it’s so important to:

Stay on top of annual declarations and fees
Only work in the occupation listed on your certificate (unless a variation is granted)
Take the time to carefully review your approval letter and any conditions attached to your Permanent Residency

Need Help? That’s What We’re Here For

Understanding and managing your Permanent Residency obligations can feel overwhelming — especially when life gets busy. If you’re unsure about your next steps, or want peace of mind knowing you’re doing things correctly, reach out to us. We’re here to help you stay compliant.

HAVEN'T GOT PR, BUT NEARING YOUR TERM LIMIT?

CML offers a comprehensive permanent residency advisory service to ensure that everything goes smoothly for our clients regarding Cayman Islands Permanent Residency. Our team has over 20 years of experience reviewing Cayman Immigration Law. With expert guidance, you’ll be led step-by-step through what can sometimes seem like an impossible process.

When should I apply for Cayman Islands Permanent Residency?

emma-jane.fisher@cml.ky (Emma-Jane Fisher) — Thu, 24 Oct 2024 19:36:19 GMT

Is it time to consider applying for PR?

In most cases, once you have been legally and ordinarily resident in the Cayman Islands for eight years, you may start the application process for permanent residency. Your application can be submitted anytime before the end of your ninth year.

Even though you would only submit your application after your eighth year, becoming a permanent resident in the Cayman Islands is comprehensive, so it is advisable to consider the road ahead in advance. Consulting with one of our PR Immigration experts with ample time before your deadline will provide you with the knowledge and support you need in preparation for your application.

Cayman Islands Immigration Timeline

when should I come in for a consultation/engage cml's PR services?

If you are serious about making the Cayman Islands your home, then it is never too early for an initial consultation to review the current point system. Our 1:1 consultation will guide you through the nine different point factors explaining how you can earn points towards your PR application. If you are already nearing the end of your 7th year or moving into your 8th year on island, then I would recommend a consultation before starting to collate your documents for your application.

Tips for New Hiring Managers: Conducting Effective Interviews

Mon, 12 Aug 2024 13:39:41 GMT

Did you know that most hiring managers have never been taught how to interview a job candidate for a position effectively? As a new hiring manager, conducting job interviews for the first time can be both exciting and daunting. Fortunately, with the right preparation and mindset, you can conduct effective interviews that help you identify the best candidates for your team.

Before the Interview:

Prepare Thoroughly

Before the interview, review the candidate's resume and prepare a list of questions tailored to their experience and the job requirements. This preparation will help you stay focused and make the most of your time with the candidate.

Here's a checklist to help you get ready for the interview:

Review resumes - Make sure you've looked over the resumes of the individual you are interviewing, highlighting and making a note of anything you would like to discuss further with them during interview.
Understand the role - before the interview, make sure you have a thorough understanding of the job description, required skills, and the qualities you’re looking for in a candidate.
If you're not directly on the hiring team, it's also imperative to have an understanding of the team dynamic that you're hiring into, so make sure to set aside time to understand the work styles, preferences and personalities of the hiring team.
Prepare a structured plan - before the interview, outline the key topics and questions you want to cover. This helps you stay organized and ensures that you address all important areas. You might also want to use interview scorecards to help guide the conversation and keep track of your notes.
Brush up on your company's mission, structure, and the amazing benefits and perks that come with the position you're hiring for.

During the Interview

1. let the candidate talk

Something we see often in less experience interviewers is that they often feel the need to fill the interview with information about the company/team and how great it is before actually getting to know the candidate and understanding if they are even someone they would want to hire in the first place. Don't get me wrong, you do still need to sell the appeal of the role, team and company, but don't forget to make sure you're liking who you're talking to as well.

Try to work on the 80/20 principle. As an interviewer, you should speak only 20% of the time.

2. Build Rapport

Building rapport with candidates is essential to create a comfortable environment where they feel at ease and can present their best selves. Here are some tips to help you establish a connection:

Start with a Warm Welcome: Begin the interview with a friendly greeting and a smile. Introduce yourself and provide a brief overview of the interview process. This sets a positive tone and helps the candidate relax.
Engage in Small Talk: Spend a few moments on light conversation about non-work-related topics, such as the weather, recent events, or shared interests. This can help break the ice and make the candidate feel more comfortable.
Show Genuine Interest: Demonstrate that you are genuinely interested in the candidate’s background and experiences. Use active listening techniques, such as nodding and maintaining eye contact, to show that you are engaged in the conversation.

3. Guide the Conversation

Effectively guiding the conversation ensures that you gather the necessary information to make an informed hiring decision. Here’s how to keep the interview on track:

Use Open-Ended Questions & Listen Carefully: The key to good interviewing is to ask good questions and then listen carefully and patiently to the answers. Ask open-ended questions that encourage the candidate to elaborate on their experiences and skills. Allow silences in the conversation for the candidate to reply, don’t immediately fill the silence. You can also ask follow-up questions for clarification and often times you should as this creates a more ‘natural’ conversation, rather than something scripted. Ask “What do you mean?” regularly. Never assume that you know or understand what is said until you have checked to be sure.
Ask Behavioral Questions: Use the STAR method (Situation, Task, Action, Result) to structure your questions. This helps candidates provide clear and concise answers.
Don't Forget to Ask Technical Questions : Ensure you assess the candidate’s technical skills relevant to the role. Tailor these questions to the specific requirements of the job.

5. USE THE “SWAN FORMULA”

What qualities are you looking for in a candidate? There is a simple formula you can use in an interview. It is called the “Swan Formula” and comes from executive recruiter John Swan; essentially you are looking for someone that ticks the boxes of all of these by the time you leave the interview.

It is based on the letters S-W-A-N. These are the four ingredients you are looking for:

Smart
Work Hard
Ambitious
Nice

5. LOOK FOR ADDITIONAL QUALITIES

First of all, look for achievement or result orientation. When you ask questions, listen for examples from the person’s background where they have enjoyed succeeding and getting results at a previous job. The only accurate predictor of future performance is past performance. Probe this area carefully and demand specifics, not generalities: “What exactly did you do and what results did you get?”

6. LISTEN FOR INTELLIGENT QUESTIONS

One of the hallmarks of curiosity is that a good candidate will have serious questions, usually written out, that they want to ask about you, the company, the job, opportunities for the future, and so on.

Conducting interviews as a new hiring manager can be a rewarding experience when approached with preparation and confidence. By building rapport, asking the right questions, and staying organized, you can create a positive interview experience for both you and the candidate. Remember, each interview is an opportunity to learn and improve your skills.

Are you looking for more recruitment and interviewing advice or just general assistance in your next hiring project? Get in touch with a member of our recruitment team today at info@cml.ky to see how we can make the process easier.

A Look at How Companies Embrace DEI

Thu, 06 Jun 2024 16:47:42 GMT

Empowering Diversity: Our Journey Towards an Inclusive Workplace

In today's fast-evolving corporate landscape, inclusivity is not just a buzzword but a fundamental aspect that can drive companies towards more significant innovation, employee satisfaction, and financial performance. Recognising the myriad benefits of a diverse and inclusive workplace, many forward-thinking companies are implementing various policies and practices to foster an environment where every employee feels valued and empowered.

Before we get started, it is essential to know the definition of these terms:

Diversity in the workplace refers to the range of identities, backgrounds, perspectives, and experiences people bring to their jobs, such as race, ethnicity, gender, age, religion, disability, sexual orientation, and education.
Equality is about ensuring everyone has the same opportunities and is treated the same way, regardless of their differences.
Inclusion refers to the policies and actions that foster a nurturing and inclusive environment where all employees feel valued, respected, heard, and empowered to grow and contribute.

What Companies Are Doing to Promote Inclusivity

Diverse Hiring Practices

Companies are revisiting their hiring practices to build a more inclusive workplace. This includes creating job descriptions that appeal to a broader audience, utilising diverse hiring panels, and implementing blind recruitment processes to minimise unconscious bias .

Inclusive Leadership Training

Understanding that inclusivity starts at the top, companies are investing in leadership training programs focused on diversity, equity, and inclusion (DEI). These programs aim to equip leaders with the skills and awareness to manage diverse teams and foster an inclusive culture effectively.

Employee Resource Groups (ERGs):

Many organisations support the formation of ERGs, which are employee-led groups based on shared characteristics or life experiences, such as groups for women and LGBTQ+ employees. ERGs provide a sense of community and belonging and serve as a valuable resource for the company in understanding the needs of diverse employee groups.

Flexible Working Arrangements:

Recognising that employees have different needs and responsibilities outside of work, companies are offering flexible working arrangements. This can include remote work, flexible hours, and part-time positions, making the workplace more accessible for people with disabilities, caregivers, and those living in remote areas.

Inclusive Policies and Benefits:

Companies are revising their policies and benefits to be more inclusive. This includes offering health insurance that covers same-sex partners, providing paid parental leave for both mothers and fathers and ensuring that company facilities are accessible to people with disabilities.

What Companies Should Be Doing to Be Inclusive

While many companies have taken significant steps towards inclusivity, there's always room for improvement. Here are some additional measures companies should consider:

Continuous Education and Awareness:

Inclusivity is an ongoing journey. Companies should provide regular training and resources to all employees, helping them understand the importance of DEI and how they can contribute to an inclusive workplace. In the Cayman Islands, the Cayman LGBTQ Foundation believes in achieving equality, and through its services, employees can access counselling. At the same time, employers can partner with them to support their employees with local resources.

The Cayman LGBTQ Foundation proudly promotes Pride Month with the Cayman Pride Parade, Beach and Flag Ceremony, and Rainbow 5k. Show your support today .

Actively Combat Unconscious Bias:

Beyond implementing blind recruitment processes , companies should use tools and training programs to help employees recognise and address their biases. This can include unconscious bias workshops and inclusive language training.

Measure and Report on DEI Goals:

Companies should set clear DEI goals and regularly measure their progress to commit to inclusivity. This includes tracking diversity metrics and assessing the inclusivity of the workplace culture.

There are many strong examples of organisations in the Cayman Islands that put a lot of effort into their DEI initiatives. Just one example is PWC; the PWC website prominently displays an example of how global firms commit to their DEI Goals. PWC clearly states its DEI goals through its ‘Inclusion First’ strategy, centering on action, accountability, and advocacy. They focus on five global drivers for change:

Inclusion First
Gender Equality
Disability Inclusion
LGBT+ Inclusion
Social Inclusion

Encourage Allyship and Advocacy:

Companies should encourage all employees to ally with underrepresented groups. This can be facilitated through mentorship programs, allyship training, and creating spaces for open dialogue about diversity and inclusion issues.

LISTEN TO EMPLOYEE FEEDBACK:

Finally, the most important step companies can take is to listen to their employees. Regular surveys, feedback sessions, and open forums can help companies understand their inclusivity efforts' effectiveness and identify improvement areas.

How Do I Learn More About a Potential Employer’s DEI Commitment?

Ask About Their Commitment in Interview

Asking about a company's commitment to Diversity, Equity, and Inclusion (DEI) during a job interview is a great way to gauge how seriously they take these values. These questions not only reflect your interest in DEI but also encourage the interviewer to provide specific examples and policies, giving you a clearer picture of the company's true commitment to these important values.

Check Out Their Websites/Articles

Getting ready for an interview is essential , no matter what kind of role you're applying for. Exploring the company's values and initiatives is crucial for diversity and inclusion. You can do this by browsing their website and social media platforms to learn about any programs they've introduced and how they support different groups of employees.

Some organisations publish annual reports or news articles outlining their diversity and inclusion tactics, which can be enlightening. This research lets you better grasp how the company champions and gauges inclusivity.

Demonstrate your enthusiasm and commitment to these values, and consider how to apply them to your role. You do not need to pretend that you know everything about these topics – you need to be willing to learn and acknowledge that diversity and inclusion are complex issues requiring continuous learning and action.

Practice What You Preach

At CML Offshore Recruitment, we actively promote diversity, equality, and inclusion in our workplace with our DEI policies, continuous learning throughout the year, flexible working options, parental leave benefits package, and open-door policy. But, like everywhere, there is always room for improvement, and we know this and actively work every day to address this.

We are proud of the fact that 75% of our workforce is female and that the organisation is headed overall by a female. However, even though we boast such a strong female workforce, our board is currently only 33% female and females in leadership roles comprise only 44% of our internal teams, so whilst we can be proud, we are aware there is still work to do. To help promote strong gender equality and growth potential for females on our team, we actively offer career coaching and leadership coaching for those interested in climbing the career ladder.

Recently, we have also begun piloting a Networking “Buddy System” where executive and leadership members of the CML team are buddied up with early and middle-career staff to help them diversify their business network and glean insights from their expertise. Our hope with this new program will help support the career growth of more female staff to senior positions in time.

Promoting inclusivity in the workplace is a multifaceted challenge requiring dedicated and ongoing effort. By implementing thoughtful policies, encouraging open dialogue, and striving to improve, companies can create a work environment where everyone feels valued, respected, and empowered to reach their full potential.

If you are an organisation looking at how you can implement stronger DEI policies and initiatives, feel free to reach out to our HR team for a free consultation today.

Preparing Your Workplace for Hurricane Season in the Cayman Islands

Wed, 29 May 2024 15:47:19 GMT

As the hurricane season approaches (1 June – 30 November) in the Cayman Islands, residents and businesses must take proactive steps to ensure safety and minimise potential damage. The islands, known for their beautiful landscapes and vibrant communities, are also prone to the forces of nature. Here's a comprehensive guide on preparing your workplace and staff for the hurricane season.

How HR Can Support Hurricane Preparedness at Work

HR professionals play a crucial role in fostering a culture of preparedness and safety within the workplace, effectively supporting their team in preparing for a hurricane.

Emergency Response Plan

Begin by ensuring that your company's emergency response plan is in place, including evacuation routes, emergency contacts, and the protocol for remote work if necessary. Next, ensure that you have an effective internal communication plan so that all your employees know the emergency response plan and procedures. This involves organising comprehensive training sessions covering these procedures and ensuring the information is accessible to everyone.

Crisis Response Team

Establishing a dedicated crisis response team can be crucial. This team would execute the emergency response plan and ensure all employees are safe and accounted for during a hurricane. For smaller organisations, this may just be a duty of the HR and Operations teams.

Employee Support and Compensation

Address how the company plans to support employees financially during a hurricane, especially if they cannot work. Clarify policies regarding pay and leave during this period as necessary.

Personal Preparedness

Additionally, HR should focus on personal preparedness by encouraging employees to have their emergency kits and plans at home, highlighting the importance of securing important documents and preparing supplies for their families and pets. This is especially important if you have staff on your team who are new to the island and may need to be made aware of what to do in the case of a storm.

Create a Space for Continued Conversation/Support

Facilitate open communication channels, allowing employees to voice their concerns and needs regarding hurricane preparedness. This could include setting up a dedicated hotline or communication platform for real-time updates and support during a hurricane.

Consider Flexible Working Arrangements

It might also be worthwhile to consider flexible working arrangements or time off for employees to prepare their homes or evacuate if necessary during a storm. By taking these steps, HR can ensure that their teams are well-informed, prepared for a hurricane, and supported throughout the process, ultimately contributing to the safety and resilience of both the individuals and the organisation.

Provide Mental Health Resources

Hurricanes can be stressful events, and providing resources for mental health support can be beneficial for employees dealing with anxiety or stress related to the hurricane season.

Workplace Hurricane Preparedness Checklist

Preparing for hurricane season in the Cayman Islands requires a proactive and comprehensive approach at home and in the workplace. By taking the steps outlined above, you can significantly mitigate the risks associated with hurricanes and safeguard your family, home, and business. Remember, preparation, vigilance, and community support are the key to weathering any storm. Stay safe and prepared!

If you or your business needs help ensuring your policies and procedures are comprehensive in the event of a storm, contact our team today to see how we could further support your business needs.

Welcoming CML Immigration’s First Apprentice: Mia Moore

Mon, 27 May 2024 15:32:53 GMT

The Start of Something New

Admitting that I am a little nervous about writing my first blog is difficult, but hopefully, these snapshots into my apprenticeship program will inspire other aspiring HR professionals. Despite the nerves, I am incredibly grateful for the opportunity and experience provided by CML. Join me on my journey as I get a head start on my future!

Before CML

In March 2020, we got the first email stating that the schools would be strictly online due to the Covid-19 restrictions settling in. It was my final year of high school, so it was not entirely ideal for a student prepping for examinations and the next steps of their educational journey. Disregarding the lack of socialisation and the impromptu beach days, I graduated from Clifton Hunter High School with Honors, and my head held high in December 2021 (whilst also having already completed my first semester at the University College of The Cayman Islands).

Finding My Path

With high school firmly behind me, I continued my studies at UCCI, where I am currently pursuing a degree in Business Administration and have thoughts about a second degree in English Literature, maybe someday in the future as well. From a very young age, I became well acquainted with the books in the library, specifically fantasy books (I highly recommend the Percy Jackson Series) . The little girl back then wanted nothing but to become a best-selling author, hosting book signings and possibly on her third series by now. She instead has at least 50+ incomplete books/writing pieces on her hard drive and wishes to keep writing as a hobby and not a job.

While reading and being a writer is how I like to feel in my free time, I was still figuring out my career path, and I’m not afraid to say that I’m still figuring this out. My interest in human resources peaked when I saw an ad in the newspaper many years ago describing the role of a Human Resources Manager. It seemed like a therapist for the workplace, and it piqued my interest, so I looked into the career a bit further and decided I’d like to see what HR is all about.

In 2023, I got my first taste of a career in Human Resources. It was a short internship during which I learned the basics of immigration here in Cayman, as well as recruitment and general HR management. This was an incredible first taste of what a career in HR could be, and I wanted more—that’s where the CML apprenticeship came in at the perfect time.

Immigration Apprentice – Exactly where I need to be

Whilst scrolling through social media, I got an ad. This ad seemed specifically directed to me as everything I wanted they offered and honestly felt too good to be true. I sat on the decision to apply for only a moment as everyone urged me to apply. This was an opportunity I could not ignore. Shortly after applying, some interviews, and a test I was unnecessarily nervous about, I got the job! Honestly, I had no doubts I wouldn’t get the job. But when I received the call, I couldn’t contain my excitement. Everyone on my contact list was just as excited as I was! And so it began!

Having already been an intern in human resources, I thought I knew exactly what I was getting myself into. I had mentally prepared myself for the day-to-day duties of the role I’d be doing, but I honestly hadn’t really thought too much about what the culture would be like. Working in the corporate world was still relatively new to me, and I just assumed everywhere was the same and you just got your head down and got to work. I will never forget my first day at CML, it was a fun, welcoming and comprehensive experience and I couldn’t be happier with the team I’ve joined.

I’ve learned so much and have met so many new people! I feel comfortable enough to say that I can answer most questions about immigration here in the Cayman Islands. Note I said most questions, there’s definitely room for improvement, and I’m learning more and more every day.

Every obstacle and learning curve has provided the enrichment I have been looking for. I look forward to the milestones ahead. This is only the beginning, after all. Soon, I will be a certified HR Professional.

CML Apprenticeship Programme: Immigration Specialty

CML's apprenticeship program was built for aspiring HR talent in Cayman. The apprenticeship is a 24-month program, where the apprentice works towards a professional HR designation, whilst gaining exposure across our recruitment, immigration, and HR consulting teams. Mia's journey focuses on Immigration as her speciality but as she progresses throughout the programme, she will have opportunity to support the other departments of CML.

The Cayman Islands: A Rising Star in Reinsurance

Wed, 17 Apr 2024 23:04:03 GMT

The Cayman Islands, long recognized for its pristine beaches and as a leading captive insurance domicile, is now making waves in the reinsurance industry. Over the past six years, the islands have seen a meteoric rise in their reinsurance sector, with double-digit annual growth rates and a significant increase in the number of reinsurers obtaining licenses from the Cayman Islands Monetary Authority (CIMA).

The Cayman Islands offer several benefits, as reflected in the growth momentum compared to Bermuda. While Bermuda remains the most prolific offshore jurisdiction for most reinsurance entities, Cayman can now be recognised as a realistic alternative.

The Numbers Speak for Themselves

Double-Digit Growth: According to Cayman Finance , the Cayman Islands reinsurance sector has consistently posted double-digit annual growth rates over the past six years. This trend is no fluke; it reflects the islands' strategic advantages.
Licensees and Assets: At the end of 2023, the Cayman Islands Monetary Authority (CIMA) reported 80 reinsurance vehicles registered in the Cayman Islands. The 27 reinsurance licensees that have life as a primary class of business, account for 4% of all Cayman international insurance licensees. These entities manage $33.1 billion in premiums and hold $64 billion in assets.
In a July 2023 report by law firm Conyers , approximately 70% of the licenses issued by CIMA have been for commercial or affiliate reinsurers. Still, more recently, private equity, traditional reinsurance, and insurtech have been selecting the Cayman Islands to establish sidecar and reinsurance platforms.

Why Domicile in the Cayman Islands?

Effective Regulation

The Cayman Islands' regulatory framework adheres to international standards, promoting investor confidence. Unlike some jurisdictions, the Cayman Islands chose not to seek Solvency II equivalency but focused on serving its closest market—the Americas. This flexibility allows CIMA to tailor risk-based prudential standards for each licensee, fostering a conducive environment for reinsurers.

Capital Efficiency

CIMA permits licensees to develop their own internal regulatory capital models. This flexibility enables reinsurers to structure their capital efficiently, which is crucial for investment houses seeking optimal returns on investment (ROI).

Capital Markets Hub

The Cayman Islands are the capital markets jurisdiction of choice. Reinsurers benefit from proximity to global financial centres, facilitating capital raising, securitisation, and risk transfer. The islands' robust legal framework supports innovative structures like catastrophe bonds and insurance-linked securities.

Domiciliation Appeal

Reinsurance companies are increasingly domiciling in the Cayman Islands. Since Q2 2019, CIMA has approved three new licenses, doubling the number of fully licensed Class D reinsurers with a physical presence on the island. These reinsurers focus on long-term risk in the life/annuity space and are subsidiaries of global institutional groups.

Camana Bay: The Epicenter

Camana Bay, nestled in Grand Cayman, has become the location of choice for reinsurers. Home to giants like Aureum Re, Greenlight Re, Knighthead Annuity, and United Insurance Company, it also hosts many leading captive insurance management firms. Camana Bay offers a vibrant ecosystem where insurance businesses thrive.

Why Consider Moving to the Cayman Islands?

The Cayman Islands beckon reinsurance professionals with regulatory excellence, capital markets prowess, and a tropical lifestyle. Whether you're an industry veteran or a rising star, consider making your mark in this sun-soaked reinsurance haven.

Why CML?

CML has been pivotal in helping reinsurance professionals build their teams and careers in this thriving environment. Over the past seven-plus years, CML has been sought out and executed on the hiring of two Chief Actuaries, two Chief Underwriters, senior claims counsel, and over two dozen finance, accounting and actuarial positions, all in the Cayman Islands reinsurance space. This means we are uniquely positioned to bring talent to your company while carefully guiding candidates with an accurate portrayal of all Cayman has to offer.

The rise of the reinsurance sector in the Cayman Islands is a testament to the jurisdiction's robust regulatory framework and its appeal as a global financial hub. For those looking to forge a path in this dynamic sector, the opportunities are as sunny as the Cayman weather. As your trusted recruitment partner, we are committed to supporting your journey every step of the way.

Audit Contract Ending? The Time to Transition into Industry is Now

Thu, 01 Feb 2024 13:25:03 GMT

Audit can be a rewarding and lucrative career path; however, many people find the long hours and pressure a grind. Fortunately, Cayman has a phenomenal demand for audit and consulting professionals to provide vital in-house functions for private businesses.

As the primary specialist financial recruiter in the Cayman Islands with over 20 years of experience, CML Offshore Recruitment can give you complete market coverage, including exclusive roles that only we handle. We can provide you expert guidance on the different career routes to match your background, notably the inside working culture and expectations of the companies so that you can choose your balance of career and personal time.

Learn About Your Options Outside Audit

WHAT WAS YOUR LOCATION AND POSITION BEFORE MOVING TO CAYMAN?

In private practice, you often will have specialised in one of the following areas:

Asset Management
Banking
Captive Insurance
Corporate Finance
Crypto
General Industry
Transactional Services
US Tax

This exposure can leapfrog you into exciting positions we recruit for, including:

Front Office Investment Analyst Roles – working for hedge funds
Fund Administrator Roles – remote working & outstanding work/life balance
Crypto Accountant Roles – at the forefront of the new technology
Account Manager Roles – attractive positions at global captive managers
Financial Controller Roles – opportunities at operating companies
Internal Auditor Roles – within multinational companies

Whether it is financial accounting, management accounting or analytical work, we have you covered and can give you the inside track on how to separate yourself from the competition.

CURRENT ACCOUNTING & FINANCE JOBS

Explore Your Options

Talk to the Professionals

Taking the time to consult with our specialist recruiters will allow you to uncover the positions you want now but also plot your course for future success further into your career. For most, the first move into industry will determine the ultimate direction for the rest of your career and is vitally important.

What Route Will You Take?

Think about how you are going to build your career moving forward. There are advantages to joining a large firm with a bigger finance team; more tiers of promotion, better benefits, and a similar team feel to audit; however, the work itself can be more repetitive as you see a more narrow field of the accounts.

Smaller companies can have better work-life balance and more variety in the work available however progression can be slower and business-dependent. Day-to-day responsibilities are more ‘ hands-on’ with more menial tasks like bank reconciliations and admin coming with the job. That said, opportunities within tech start-ups or SMEs can be exciting with the opportunity to interact with operations and live the life of the company.

Company Culture within Industry

When transitioning into industry, it is prudent to consider the working culture of your new role. Industry demands may be a completely different way of working.

When adapting to industry, the appeal comes from the opportunity to take on a high-impact role within a smaller business. Finance professionals can adapt well when working in an SME where the culture of open communication and less corporate structure is more appealing than in their years in private practice.

Use Your Experience from Audit

Think about projects that you found stimulating when working in practice and decide on the type of business you want to move to in your new role.

Use your experience in practice to focus your search on a business sector/s that will motivate you. If you know the sector you want to move to, it would be beneficial to seek experience in that field.

Opportunity Knocks

Remember to look for what you will gain from the business in the long run. A competitive salary is always desirable, but it is essential to know when you will receive pay reviews and how your employment package might expand over the next few years.

Ensure that the position offers you exciting and challenging work with learning and development opportunities. You would also consider your work-life balance as you will want to ensure you can still enjoy everything you have come to know and love living in the Cayman Islands.

The Next Step

With audit season ending soon, many people leave it to the last minute when their deliverables have been completed to start looking for work. By waiting, you will be competing with the majority of those whose contracts have also finished, therefore limiting your options. Many companies are interviewing now and will wait until your contract has finished to bring you on board.

The Cayman Islands: An Emerging FinTech and Crypto Hub

Fri, 05 Jan 2024 22:54:57 GMT

The Cayman Islands have established themselves as a prime location for FinTech and Crypto businesses seeking to enhance their expansion. The Islands possess a highly regarded financial services and technology framework, which attracts companies worldwide to domicile here.

FinTech and Crypto - What are the differences?

FinTech and crypto are two related but distinctively different concepts. While some FinTech companies may incorporate crypto into their offerings, you would not interchange the terms.

Why is FinTech Growing In Cayman?

The Cayman Islands Government is committed to promoting economic growth and attracting high-quality FinTech companies to the region. The stunning natural beauty of the islands, along with world-class banking and the absence of income, capital gains, corporate, or sales tax, make it an attractive destination for companies to register. By implementing a Special Economic Zone (SEZ) , the islands can accommodate various exempted companies and partnerships that can establish a physical presence in the islands.

In addition to the SEZ and its zone operator Cayman Enterprise City (CEC), TechCayman was also established. Their purpose is to encourage technology entrepreneurs to develop their businesses in the Cayman Islands. They also serve as hubs where the technology community can collaborate and build new programs and ecosystems.

This development enables the Cayman Islands to offer FinTech-related activities, including but not limited to crypto exchange services, custodial services, initial coin offerings, and new technologies in both centralised and decentralised systems.

Tech Cayman and CEC are enabling Crypto, blockchain and Web3 companies to reach a global scale. There are now over 300 companies operating out of CEC , including software developers and data scientists. Being based in Cayman has given them an edge over other firms when it comes time for purchasing decisions by customers who need products or services, but don't necessarily have strong ties with any specific region or country. The Island's location and accessibility to major financial hubs make it an ideal place for FinTech companies seeking to expand globally.

How can you learn more about these growing industries?

Tech associations and societies are growing and working together to create helpful guidelines. They are advocating the development of the Crypto and FinTech industries in partnership with the Cayman Islands Government and regulators.

Favourable Regulatory Environment for Crypto Business

The Cayman Islands have emerged as a favourable regulatory environment for crypto businesses. The government's proactive measures in combating money laundering and terrorist financing while encouraging innovation and growth have made it an attractive location. Consequently, the Cayman Islands have become a hub for crypto hedge funds, exchanges, and related companies.

Who is regulating FinTech and Crytpo companies in the Cayman Islands?

When it comes to the regulatory framework in Cayman, here's a quick overview of who regulates what:

The Cayman Islands Monetary Authority (CIMA) regulates banks and other financial institutions. It also licenses banks and other financial institutions and approves new products they can offer.
The Securities Investment Business Act regulates persons carrying on securities investment business, including market makers, broker-dealers, securities arrangers, securities advisors and securities managers, in or from the Cayman Islands.
Virtual Asset (Service Providers) Act established a legal structure for virtual assets operating within the country. As a result of this act, Cayman has the framework to regulate digital assets and identify and mitigate potential risks.

What Roles do FinTech and Crypto Companies Recruit for in the Cayman Islands?

The local labour market is strong and growing, as are opportunities in Fintech and Crypto industries. FinTech companies constantly expand and require talent with diverse skills and expertise to succeed.

Your Chance to Join this Evolving Sector is Now

With a strong track record of supporting FinTech and cryptocurrency companies in recent years, Cayman is an excellent location for those looking to further their career in this new and exciting field.

Our IT, FS and Legal Teams all have specialist experience recruiting for the positions required for FinTech and Crypto companies. If you are a financial services, IT or legal professional looking for a new position in this evolving sector, our team is here to help. Please view our current jobs here .

My spouse has Permanent Residency with the Right to Work, what does that mean for me?

Mon, 04 Dec 2023 11:43:54 GMT

So your spouse has been granted permanent residency (PR) with the right to work, but what exactly does that mean for you?

What This Means for You:

Well, firstly congratulations! As the spouse of a permanent resident, you can now apply to the Caymanian Status & Permanent Residency Board (CS&PR Board) for a Residency & Employment Rights Certificate (RERC) in your own right, which, if approved, will entitle you to accept employment with any employer of your choice in your field.

The RERC (Spouse of Permanent Residency) Application:

While the application process is not as daunting as that of your spouse, you will need to complete an application form and provide certain documents, including an Affidavit attesting that your marriage is intact and is not a marriage of convenience, an Affidavit from your spouse supporting your application, and various other documents including personal and banking reference letters.

Until a decision is made on your RERC (Spouse of Permanent Resident), you will continue to be on a work permit (or permission to continue work). If your renewal date is before any outcome then you will continue to file for the permission to work and pay the relevant work permit fees until such times as a decision is rendered.

Wondering when you can apply for your RERC? Read our dedicated blog here that walks you through the entire process and what to expect.

It doesn’t need to be a nerve-racking experience…CML can make your application process stress free. Call us to find out how or send an email to Juliette Gilbert on juliette.gilbert@cml.ky .

When Can I Apply for My Residency & Employment Rights Certificate (RERC)?

Fri, 01 Dec 2023 13:21:49 GMT

Congratulations! Your spouse or civil partner just got granted permanent residency with you as their dependent. The next step for you is a Residency & Employment Rights Certificate (RERC) – but what exactly is it, what does it allow, and when can you apply?

What Exactly is RERC?

RERC allows the spouses and civil partners of Permanent Residents and spouses and civil partners of Caymanians to accept employment from any employer in the Cayman Islands. It is possible to include existing children as dependents on both classes of RERC for spouses or civil partners.

Your RERC gives you the right to enter and remain in the islands indefinitely as long as your marriage or partnership exists but does not automatically confer the right to work.

When Can I Apply?

Spouses or Civil Partners of Permanent Residents

As a work permit holder and a permanent resident’s spouse or civil partner, you can apply for your RERC once they have received their PR approval. It is a simple process to apply for your own RERC. Once your RERC approval is issued, you can now work for any employer under the job title listed on your last work permit.

If you have only been a dependent on your spouse or partner’s work permit (meaning you currently do not hold one) but now wish to apply for your RERC, you will have to obtain a job offer before applying. At the time of your application, you will submit using the title of your newly secured position. Once granted, your RERC is tied to your new job title, and you can work for any employer in this role.

You will be required to pay an annual fee equivalent to the annual work permit fee for your title.

While the application process is not as daunting as your spouse’s PR was, you will need to complete an application form, and certain documents are required, including:

An Affidavit attesting that your marriage is intact and is not a marriage of convenience
Various other documentation, including personal and banking reference letters

Also, remember that you have 90 days from the grant of your spouse’s or civil partners PR to apply for your RERC.

Spouses or Civil Partners of Caymanians

Amidst the congratulations and celebrations, kindly note that whether you are new to the Islands or an existing work permit holder, you will be required to obtain RERC once you are married to a Caymanian. This is also true if your spouse or civil partner received the right to be Caymanian and you held your RERC as a spouse or civil partner of a permanent resident but have not been married for at least seven years.

Once granted, there is no restriction on occupation or employer. There is also no annual declaration or fee. Should the marriage break down, your certificate can be revoked or voided at the discretion of the Caymanian Status and Permanent Residency Board.

Making your RERC application need not be a nerve-racking experience; CML can make your application process easy and stress-free and are here to answer any questions you may have about the application. Reach out to our experienced Immigration team at cml@cml.ky or call 623-1025 for a free consultation.

You can learn more about applying for Permanent Residency here . Still have questions, check out our Residency page.

Generative AI: What do you need to consider surrounding usage and policies for your organisation?

jennifer@cml.k (Jennifer Moseley) — Wed, 15 Nov 2023 20:24:37 GMT

As an organisation, it would be naïve of you to think that you don’t need to address the usage of AI – just because you haven’t introduced it formally doesn’t mean your staff aren’t using it or experimenting with it.

There is much to consider surrounding the responsible use of generative AI as an organisation; we hope this article gives you some starting thoughts as we enter this new tech era.

Do You Need AI?

You may not need AI, but it would be a mistake to dismiss it outright without considering the potential value and weighing that up against the risks to make an informed decision.

AI has the potential to support your staff, enabling them to be more productive and effective with some of their more repetitive and administrative tasks, freeing up time to spend on areas that AI doesn’t add value, like strengthening relationships.

Data Protection & Security Concerns with Generative AI

Data Breaches

When we provide our personal or corporate data to software applications, we trust that the company will handle it responsibly and have robust safeguards against cyberattacks. Nevertheless, using generative AI tools may unconsciously reveal more information than intended.

Data Leaks

If you’ve tried using different AI tools already, you likely know that providing the AI chatbot with background information and context through a well-written prompt is crucial for getting the best response.

Well, what you may not realise is that by doing so, you may be inadvertently sharing proprietary or confidential information with the AI chatbot when doing so. Unintentionally, employees may be sharing valuable intellectual property, confidential strategic information, and sensitive client data belonging to the company.

Research done by Cyberhaven , a data security company, found that

11% of data employees paste into ChatGPT is confidential.
4% of employees have pasted sensitive data into ChatGPT at least once.

Where to Start with AI in Your Organisation

After reading the above, you’re probably left wondering how to move ahead with these risks in mind. As AI is an ever-changing area with new tools being released daily , you need to be agile while remaining vigilant with your introduction plan.

Start With a Usage Policy

Implement a policy on responsible AI use and ensure that your AI usage policy aligns with your organisation's data and compliance policies. At a minimum, this policy should be used to create guardrails for a safe space where your staff can explore the use of responsible AI to support their role.

Template AI Usage Policies:

Find a Secure AI Tool

Research the Company Behind the Tools

You can evaluate an app's reputation and track record with other tools and services, but remember that a well-known name doesn't always mean adequate security.

Reviewing the privacy policy and security features before sharing information with any AI tool is essential. Any info shared may be added to its large language model (LLM) and may be used in responses to other people's prompts, including your direct competitors.

Train Employees On Safe And Proper Use Of AI Tools

You likely have acceptable social media usage policies for employees, and you should be training employees on good cybersecurity behaviours already. As generative AI tools become more prevalent, it is necessary to incorporate new policies and training topics into the existing framework. Some examples of these may include:

What they can and cannot share with generative AI apps
General overview of how LLMs work and potential risks in using them
Only allowing approved AI apps to be used on company devices

This is a helpful summary of how major companies utilise generative AI technology among their workforce.

Test the Tools

Test any new technology in real-time test environments so that you know how it performs under pressure before deploying on an enterprise scale.

Are you looking for help with new HR policies? Our HR Consulting Services can guide you and help implement policies within your business.

An Inside Look at CML’s Apprenticeship Programmes

Wed, 08 Nov 2023 15:03:56 GMT

Learn about CML’s Apprenticeship Programmes from their latest graduate, Jada Connor .

About the Apprenticeship Programme

CML is proud to offer a 24-month comprehensive apprenticeship programme for aspiring HR talent in Cayman. On this apprenticeship, individuals work towards a professional HR designation whilst gaining on-the-job exposure and experience within immigration, recruitment and HR consulting. Each day, apprentices learn and build on their passion for HR to progress and become knowledgeable HR professionals.

Our apprenticeship programme comprises three main learning areas: Recruitment Process, Immigration and Labour Law, and HR Practices and Principles. The programme is structured in a way that one of these areas will be the main focus of your learning, allowing you to become an expert in that particular field.

Meet Jada Connor, FS Recruitment Apprentice

Don’t take it from us; we asked our recent Financial Services Recruitment Apprentice, Jada Connor , to spill the beans on her two-year apprenticeship programme with CML.

Jada applied for our first-ever financial services recruitment apprenticeship in the summer of 2021, and now, two years later, we are proud to report that she has completed the programme. The programme is designed to prepare aspiring HR professionals for strong careers in the industry. We are ecstatic that Jada has decided to stay with CML after completing her apprenticeship and is already settling into her new, permanent role as a Recruitment Administrator within the FS recruitment team.

What was your educational background before you applied to the CML apprenticeship?

Jada: Before I applied to the CML apprenticeship, I had recently completed my associate degree in social sciences from the University College of the Cayman Islands . I had no qualifications outside of my degree and needed guidance on what I wanted to pursue as a career.

Did you require any previous experience when applying for the CML apprenticeship?

Jada: No, it was explained to me very early on in the process that CML was looking for a driven individual, passionate about a future in the financial services recruitment industry. And of course, with all apprenticeships, the willingness to learn.

Was working at CML your first experience in an office environment? If not, how does CML compare to your past work experience?

Jada: While CML was not my first experience working in an office environment, it was my first long-term and flexible working experience. Before CML, I had experience working in a retail store setting as well as an office administrative setting during school holidays or as work experience. I was also part of the Cayman Mentoring program, which introduced me to an office setting at a young age.

Once I entered University, I worked part-time in the Student Life Department between classes. I helped students apply for jobs and gain experience in their field of study by contacting businesses in their industry and forming a connection. In essence, I was acting like a recruiter for students in the school. Helping companies and students piqued my interest in HR, and I decided to shift my career focus from Psychology to HR with a Psychology background.

One thing that sets CML apart from my past experiences is CML’s office environment . Predominately, you are expected to work from the office to allow for better cross-collaboration between different departments of the business, but we have flexibility to work from home as well. Our office culture allows for different working environments, so you are not stuck at your desk all day. Several rooms to work from include couches, side tables and even standing desks. The open floor plan and team pods provide a calm, inclusive atmosphere where you can collaborate. Of course, you can use one of the smaller rooms if you need privacy or focus time. We also have many plants and art around the office by local Caymanian talent that make the space, like all my colleagues, very welcoming!

Can you describe a typical day as a CML apprentice?

Jada: My typical day as an apprentice at the end of my programme looks quite different from what it did initially. At the start, I was new to the financial services industry and professional recruitment, so a typical day included training sessions and beginner tasks/projects to familiarise myself with the industry. Throughout the apprenticeship, my team were approachable, and I could ask questions and gain insight into what I was learning, which really built the foundation for my success with CML.

As I became more familiar with the industry and recruitment, I was assigned projects and tasks without supervision and offered the flexibility of working from home. I was always in constant communication, as when I needed assistance, I could reach out to my mentor to discuss my projects and daily tasks.

Now that I am more familiar with Recruitment, HR Consulting and Immigration Services , my typical day has evolved immensely! My day can range from working on a client’s immigration needs to speaking with a candidate about their dream role. I could be sitting in on an interview and then sourcing for candidates to fill positions an hour later. Every day is different, and that is one of the best parts of the experience, in my opinion.

How does CML support their apprentices in their professional development?

Jada: CML supports their apprentices (and all their staff) by offering funds and study leave for training that builds on skills and competencies that will support their position. During my two-year apprenticeship, I studied for two HR certifications (a local and international one), which were fully funded, and I was also given time off with study leave to appropriately prepare.

As an apprentice, you can discuss and choose an international certification that best fits your goals. CML provides several training days per year to help you succeed. You are also extended the time to speak with a career consultant from the NPO, Connect by Nova , every two weeks (or when necessary). My consultant was Hannah Jackson, the Career Services Manager and a prior Recruitment Apprentice with CML’s sister agency, Nova Recruitment. She guided me on tips and tricks she learned from her apprenticeship and pointed me in the right direction on how to make the most out of my apprenticeship and achieve my career goals for the future.

What sets the CML apprenticeship program apart from other similar programs?

Jada: That’s a great question! What sets the CML apprenticeship program is that it offers immersive and intensive on-the-job learning. In Cayman (at least at the time of writing) there are not many entry-level development programmes available, most are internships that give you a glimpse into the work, but never go beyond surface level learning. With CML’s apprenticeship programmes, you are a fully immersed employee in a dedicated team that is trained daily through on-the-job learning, giving you a holistic experience to really grasp how things operate, and why.

You aren’t just brought into the program, given a mentor, and expected to follow directions and do the same thing every day. Every day, you have a team of professionals to learn from and ask questions. This practical training, paired with the theoretical learning from the certification programmes really enables you to propel into the industry with no prior experience necessary.

Outside of this, CML motivates you to explore other company opportunities and provide you with 1-on-1 discussions with a career consultant to ensure you are doing what’s best for your career path and future. For example, as a part of my apprenticeship in recruitment, I also worked with the Immigration Services and the HR Consulting teams. In the future, I would be keen to become an HR Generalist, and with the opportunities and support at CML, this dream is becoming a reality.

Your Chance is Here

If you were inspired by Jada’s story then your chance is here. If you're thinking about a career in HR, CML's apprenticeship programme is worth exploring.

Check out our current openings on our careers page or follow us on social media to stay in the know of when we are next looking for an apprentice to join one of our varied teams. Don't miss out on this opportunity to kickstart your HR career with CML!

What to Include on an Insolvency Resume

Tue, 07 Nov 2023 06:34:56 GMT

Your Resume: Make it a Strong First Impression

Are you an accounting professional specialising in insolvency? If you are, and you’re starting your job search, you want to make sure you showcase the right skills on your insolvency resume for you to stand out. It’s no secret that your resume is a crucial part of the job-seeking process; often, it can be the difference between securing an interview and not. Hiring managers and recruiters scan to see if you have the core experience and skills needed for whatever role they’re currently hiring for, so it’s vital to include information and experience that shows you’re the best fit.

This is no different when it comes to insolvency, so what should you include on your insolvency resume to ensure that the hiring team feels confident they need to speak with you?

Essential Items to Highlight on your Insolvency Resume

In this blog, I’m focusing specifically on how to highlight and showcase your insolvency experience in a meaningful way; for more tips on how to set up your resume in general, feel free to check out some of our more broad-topic resume articles.

Insolvency & Accounting Qualifications

First, you should clearly state your accounting or insolvency qualifications

(e.g., ACA, ACCA, CA, CPA, JIEB, ARITA, CPI).

If you have not completed your qualifications, including the expected completion date is important. For many of the firms we work with offshore, an accounting qualification is a requirement, and an insolvency qualification is highly desired. Ensure this information is easily discerned from your resume at first glance, ideally near the top of the page.

Insolvency & Accounting Qualifications

It should go without saying that on your insolvency resume, you will need to highlight your relevant insolvency experience. When looking for positions in offshore jurisdictions, you will want to highlight the below to show relevance to the types of assignments our clients deal with.

Voluntary liquidations, involuntary liquidations, administrations, receiverships, and corporate restructuring work.
Internationally contentious and/or cross-border assignments, as well as experience with forensics and asset tracing.
Any financial services experience, in particular, funds experience if you have it.

Showcasing your Insolvency Experience

Now that you understand the experience that offshore hiring managers/recruiters are looking for, let’s look at how you can showcase this information. You want it to be easy for the hiring team to see how you could transition your prior experience to their team’s work.

1. Include as many numbers, facts and figures as possible, as well as examples of your experience.

Sample layout: Involved in X appointment with X company regarding an X $value investment

2. List the type of experience you have had exposure to, e.g., voluntary liquidations, involuntary liquidations, administrations, receiverships, restructuring etc., as well as the client types and industries, e.g., financial services, hospitality, real estate etc.

Example :

Involved in a Joint Receivership appointment with X company regarding a $75 million investment made by a British pension fund into a large international real estate agency.

Work with a Specialist Recruiter

Our team have helped hundreds of insolvency professionals with their job searches offshore, and a big part of that process is helping our candidates to showcase their skills as best as possible. We have long-standing and trusted relationships with our clients, with a deep understanding of their work; this understanding puts us in an ideal position to best advise you on what experience should be highlighted on your insolvency resume so that you have the best chance of securing an interview.

If you are an insolvency professional looking for a new position offshore, our team is here to help. Reach out to today for a confidential conversation.

Immigration: Moving to Jersey

wow@shazamme.com (Default Author) — Fri, 13 Oct 2023 22:28:35 GMT

Are you looking into making a move to Jersey in the Channel Islands? In this article, our team goes through what to expect when moving to Jersey so that you can clearly understand what is and is not possible. 

Jersey is an incredible place to work and live, so it's no wonder many people wish to call the island home with its stunning natural beauty and rich cultural heritage. As a result, you are required to register with the Customer and Local Services department , which will issue you with your residential and employment status. These statuses have restrictions for working and are implemented to safeguard the local population so that they are given ample opportunity before employers can look to import talent. 

Understanding the Basics

Jersey’s immigration environment is different from other offshore jurisdictions, as they consider the right to enter, the right to work and the right to reside separately . As such, you may be required to obtain a visa, a work permit and a registration card. We will cover all these different aspects throughout this article.

work Permits

There are two types of work permits: skilled work permits and temporary permits. The skilled work permit would be granted for companies employing within the professional services sector, but there are also 9–12-month temporary permits geared towards the agriculture, construction, fishing and hospitality industries.

This article specifically covers the skilled permit option as this relates to the areas our team here at CML recruits, but you can learn more about temporary permits here .

Skilled Work Permits

This type of permit is initially granted for up to three years but can be extended. Some specific criteria and jobs are eligible for this type of permit. You must meet the English language requirements if issued for over twelve months, and you may only add dependents on this type of permit if it is issued for over twelve months.

More details on the criteria and jobs that are eligible for a work permit in this category are detailed in the  work permit policy .

THE WORK PERMIT PROCESS

Work permits are granted to people invited to live in Jersey because of their employment skills or because Jersey needs more people with a specific skill set. Work permits can only be applied for by your employer on your behalf, and you must be outside the UK/Jersey when applying for a work permit.

DOCUMENTS YOU WILL NEED

A fully completed work permit application . (Your employer will apply on your behalf).
Medical certificates – Depending on your nationality and country of residence, you may be required to submit a tuberculosis certificate before moving to Jersey. (Required for VISA travel application).
Copy of applicant's signature/photo page of a valid passport
Copy of the applicant's passport page showing your current UK immigration status (Visa)
Copy of your qualifications and resume
Document supporting English language requirements
An employment contract or offer letter

The immigration department will contact your employer should they require additional documentation to support the application.

What Happens Next?

You need this approval letter for when you arrive at the airport; you will not be allowed entry while your permit is still processing, so it is essential to stay in contact with your employer for the status of your application. 

Once you arrive in Jersey and before starting your new position, your employer will ask for your registration card, which you will need to collect once you arrive in Jersey.

Right to Reside

REGISTRATION CARDS

As mentioned, in Jersey, there is a unique aspect to their immigration which differs from other offshore jurisdictions, as you must also obtain a registration card. Your registration card lets your employer know your residential and employment status, and upon arriving in Jersey, you must visit Customer and Local Services to register and receive your card. You will also require a Social Security number which you can apply for here too.

These different residency statuses are designed to protect the local Jersey employment pool. It also ensures that Work Permits are granted to individuals who meet the skills and qualifications for specific roles where a labour shortage has been identified.

TYPES OF REGISTRATION CARDS

If you are considering Jersey as your new home, you are in good hands with our team here at CML. We are experienced recruiters here to help you navigate Jersey’s market. Reach out to info@cml.ky today to speak to our team about how we can assist with the next step in your career journey. 

Flexible Working Options in the Cayman Islands: A Look at the UK's New Bill

jennifer@cml.k (Jennifer Moseley) — Thu, 14 Sep 2023 21:22:10 GMT

Should the Cayman Islands consider a Flexible Working Bill like is in place in the UK? According to our sister company Nova Recruitment’s 2023 Salary Insights & Recruitment Guide , flexible working options were the most important benefit candidates highlighted when polled.

In the current employment market, individuals seeking jobs are increasingly valuing their health and well-being, as well as work-life balance. As a result, flexibility has become a highly sought-after benefit in a position, making it a valuable tool for employers to retain and attract top talent.

What are Flexible Working Options?

Flexible working options include hybrid work, working from home, remote work, flextime, condensed workweek, part-time and job-sharing options. In the Cayman Islands and many other offshore jurisdictions, flexible working is a key benefit that many employees and job seekers look for, but it is not governed by law. Could it be? In the UK, the answer to that question is yes, and it’s about to be even more so.

UK Flexible Working Bill

The Flexible Working Bill has been in existence since 2003, however, it has recently undergone some major upgrades. The updated Bill has recently passed its third reading and is awaiting Royal Assent . This update in UK legislation has seen several changes to how employers handle flexible working requests from their employees in England, Scotland, and Wales.

What are the updates to the Bill?

One of the main updates is the removal of the 26 weeks of service before being able to ask about flexible working options; employees can now ask from day one .
Employees can make two flexible working requests in any 12-month period, updated from one.
Employers must respond to flexible working requests within two months, updated from three.
Employers must explore available/alternative options with their employees before rejecting any requests. If flexible working conditions cannot be offered, they must prove why.

Journalist and campaigner Anna Whitehead , who played a huge role in getting the Flexible Working Bill passed, commented that “to be clear, the only job we reckon can’t be done flexibly – core hours, job shares, ward-led rostering, part-time, working from home, compressed hours – is on an oil rig”.

What Does This Bill Mean For Employees?

In response to the new Bill, the UK Government states that ‘millions of employees will receive day one right to request flexible working, empowering workers to have a greater say over when, where, and how they work’ and that ‘businesses [are] set to benefit from higher productivity and staff retention as a result.’

With these new updates to the Bill, parents who would have to leave their jobs due to the lack of flexibility can now request flex time or work-from-home options. Employees with chronic long-term conditions, disabled or those most vulnerable who desperately need flexibility can now continue to work while managing their conditions. Additionally, working families, especially those with young children trying to make ends meet during a cost-of-living crisis, can arrange childcare and remain in the workforce.

According to Deloitte’s 2022 Women at Work report, they reported that globally women seeking new, more flexible working patterns, with some leaving their employer or workforce entirely due to the stigma attached to requesting flexible working options. ‘A massive 94% of women polled think that flexible working kept ‘mums in work’ and helped close the gender pay gap’ reported Deloitte.

From a BBC article on the Bill, Peter Cheese, chief executive of the CIPD , which represents the human resources industry, said: ‘This new right will help normalise conversations about flexibility at the start of the employment relationship, with significant benefits for employees in terms of wellbeing and work-life balance.’

What Does This Bill Mean for Employers?

Further results from Nova Recruitment’s Insights & Recruitment Guide found that employers ranked flexible working options as the least common benefit offered to their employees. In contrast to the fact that Cayman employees felt that flexible working options were no longer a perk and that embracing flexible working options should be common practice.

As we navigate the aftermath of the pandemic, many employers are considering the idea of a full return to the office and a more structured work schedule. However, in the UK, with the passage of this new, updated Bill means that companies must prioritise employee flexibility requests and provide valid reasons as to why they could not be possible.

There are, of course, benefits for businesses too, and many employers promote flexible working as good business sense:

Attracting and retaining a skilled and diverse workforce can benefit your business with a higher level of skills that will drive success.
Staff retention can also improve recruitment costs and boost job satisfaction and staff morale.
Offering manageable hours can give your staff a better work-life balance, reducing sickness absences.
Continuity from keeping experienced staff can provide an exceptional level of service.
High retention rates can foster a positive environment that promotes employee relations, motivation, and commitment.
A skilled and diverse workforce is vital to unlocking success and achieving long-term goals.

Should the Cayman Islands Government Follow Suit?

While we can’t comment on if Cayman would follow in the footsteps of the UK government, what we can say is that professionals want more say in where and when they work, and employers would be naïve to dismiss the topic outright.

With a candidate-driven market in Cayman and other offshore jurisdictions, it is essential that companies embrace flexibility in their workplace, as it is such an in-demand benefit that top talent seeks. To cut out all flexibility could be harmful to hiring and retention strategies.

As Nova states in their guide, “The key is finding which flexible work arrangements will provide sufficient flexibility to keep workers happy and attract top talent without negatively impacting culture, productivity, or work quality. Finally, your leaders must be appropriately trained.”

Looking for support with your HR processes, policies and procedures? Our team is here to help you! Learn more about how CML can support your HR endeavours.

Immigration: Moving to Guernsey

wow@shazamme.com (Default Author) — Tue, 15 Aug 2023 20:20:39 GMT

Are you looking into making a move to Guernsey? In this blog, our team goes through what to expect when moving to Guernsey so that you can clearly understand what is and is not possible. Guernsey is an incredible place to work and live, so it's no wonder many people wish to call the island home. As a result, regulations have been implemented to manage population growth and safeguard the local population so that they are given ample opportunity before employers can look to import talent.

This article will give you a breakdown of the immigration process and answer a few frequently asked questions that our recruitment team receive when an individual is looking to move to Guernsey.

Understanding the Basics

It’s worth noting that in Guernsey, they treat the right to enter and the right to work separately, meaning that you may be required to obtain both a UK visa as well as an employment permit, depending on your nationality.

Employment Permit

If you do not have the right to work via the above means, then you must have permission to take employment in the Bailiwick of Guernsey by way of an employment permit. An employment permit is usually issued as a joint permit from the Population Management Employment Permit system, we talk about this later in this article.

This policy is designed to protect the local Guernsey employment pool. It also ensures that Employment Permits are granted to individuals who meet the skills and qualifications for specific roles where a labour shortage has been identified.

Employment Permit Process

As you have learned in this article, Guernsey has a complex structure relating to its residency and employment rights. Employment permits are granted to people invited to live in Guernsey because of their employment skills or because Guernsey needs more people with a specific skill set. Employment permits can only be applied for by your employer on your behalf. The Employment Permit Policy details a list of roles selected as being in short local supply. This helps employers know who and for what roles they can make Employment Permit applications.

Documents You Will Need

A fully completed employment permit application . 
A clean police clearance certificate - A certified and signed police clearance certificate from your home district or last place of residence. 
Medical Certificates – If you are moving to Guernsey for more than six months and are a resident of a country listed on the UK Home Office website, you will need to have a test for tuberculosis.
Proof of permit from the Population Management Office
Copies of your professional qualifications and education . 
Copy of applicant's signature/photo page of a valid passport
References on company letterhead, preferably in English

What Happens Next?

If the application is approved, a letter is sent to your new employer notifying them of the acceptance and terms and conditions upon which you may work. Your employer would then relay this information to you so that you may plan the rest of your relocation and move to Guernsey. You need this approval letter for when you arrive at the airport; you will not be allowed entry while your permit is still processing, so it is essential to stay in contact with your employer and the status of your application. 

Right to Reside

Population Management Law

In addition to having valid clearance to enter Guernsey and wishing to live and work here, you must also hold a certificate or permit issued under the Population Management Law , which confirms your right to live and work in Guernsey.

The Population Management Law regulates the size and makeup of Guernsey's population. The law ensures that the islands are diverse in supporting the economy and community. It also supports local businesses by providing permits designed for specific jobs. It determines who can live in certain accommodations, as Guernsey's properties are split into two housing markets, the local market and the open market .

Everyone working and living in Guernsey requires a permit or certificate issued by the Population Management Office under the Population Management Law. These paperless permits and certificates allow people the right to live and work in Guernsey alongside immigration clearance from the Guernsey Border Agency.

important considerations

Short-Term Employment Permit (STEP)

For STEP individuals, there are restrictions regarding accommodation options where the employee can live in the local or open market housing, but the accommodation must be shared with unrelated adults and cannot accommodate dependents.

Long-Term Employment Permit (LTEP)

For LTEP individuals, there is an unrestricted right to occupy local market or open market accommodation and to house immediate family members.

If you are considering Guernsey as your new home, you are in good hands with our team here at CML. We are experienced recruiters here to help you navigate Guernsey’s employment market. Register today to speak to our team about how we can assist with the next step in your career journey. 

Things to Consider When Working with a Recruitment Agency

Fri, 04 Aug 2023 08:20:03 GMT

There are many benefits of working with a professional recruitment agency.

In the ever-evolving world of offshore recruitment, staying ahead of the curve is crucial. At CML Offshore Recruitment, we pride ourselves on helping clients build great teams and candidates build great careers. Whether you're a job seeker or a business looking for top talent, understanding the nuances of offshore recruitment can make all the difference.

Things to Consider When Working with a Recruitment Agency

Are you looking to work with a recruitment agency that you feel confident is working with your needs in mind? Don’t hesitate to get in touch with info@cml.ky to learn more about how we can help you find your dream job.

Immigration: Moving to Bermuda

wow@shazamme.com (Default Author) — Wed, 19 Jul 2023 20:04:17 GMT

Are you looking into making a move to Bermuda? In this blog, our team goes through what to expect when moving to Bermuda so that you can clearly understand what is and is not possible.

Bermuda is an incredible place to work and live, so it's no wonder many people wish to call the islands home. As a result, there are immigration regulations that are put in place to safeguard the local population so that they are given ample opportunity first and foremost before employers can look to import talent.

This blog will give you a breakdown of the immigration process and answer a few frequently asked questions that our recruitment team receive when an individual is looking to move to Bermuda.

Understanding the Basics

There are a few different immigration statuses in Bermuda, so before we go too far in this blog, it is essential to understand what they are and to whom they apply.

Work Permits

Work Permit Types

Short-Term Permit – a permit issued for a period not exceeding six months.
Standard Work Permit – a general work permit can be granted for one to five years and may be renewed.
Periodic Work Permit – allows a person to work for one employer who will make multiple visits over a specific time and stay no more than 30 days on each visit.
Global Work Permit – allows a person already employed by a global company in another jurisdiction to transfer to the Bermuda office without the requirement to advertise the position. This type of permit can be granted for 1-5 years.

The Work Permit Process

Now that you understand the immigration structure in Bermuda, we can talk about what to expect in the work permit process! As we mentioned in the beginning, strict work permit regulations ensure that the local population is given preference for positions. A work permit is only granted when there is a proven need due to a lack of local talent to meet the employer's needs. So, what does the process look like to showcase that need?

DOCUMENTS YOU WILL NEED

A fully completed work permit application.
A clean police clearance certificate - A certified and signed police clearance certificate from your home district or last place of residence.
Medical Certificates – A medical examination must be completed by a certified doctor, followed by a chest x-ray if you are from or have lived in a jurisdiction identified as high risk for tuberculosis. No blood tests are required.
Three passport-sized photographs. Colour within 12 months.
Copies of your professional qualifications and education.
Copy of applicant's signature page of a valid passport
One employment reference on company letterhead
Two-character references written by a professional person or academic

All original/notarised documents should be sent by courier (not regular postal mail).

WHAT HAPPENS NEXT?

You need this approval letter for when you arrive at the airport; you will not be allowed entry while your Permit is still processing, so it is essential to stay in contact with your employer and the status of your application.

If you are considering Bermuda as your new home, you are in good hands with our team here at CML. We are experienced recruiters here to help you navigate Bermuda's employment market. Reach out to info@cml.ky today to speak to our team about how we can assist with the next step in your career journey.

Immigration: Moving to the British Virgin Islands

Wed, 19 Jul 2023 17:50:51 GMT

Are you looking into making a move to the British Virgin Islands? In this blog, our team goes through what to expect when moving to the BVI so that you can clearly understand what is and is not possible.

The British Virgin Islands are an incredible place to work and live, so it's no wonder many people wish to call the islands home. As a result, there are immigration regulations that are put in place to safeguard the local population so that they are given ample opportunity first and foremost before employers can look to import talent.

This blog will give you a breakdown of the immigration process and answer a few frequently asked questions that our recruitment team receive when an individual is looking to move to the BVI.

Understanding the Basics

There are a few different immigration statuses in The British Virgin Islands, so before we go too far in this blog, it is essential to understand what they are and to whom they apply.

Work Permits

Work Permit Types

Temporary Work Permit – a permit issued for a period not exceeding three months.
Work Permit – a general work permit can be granted for no more than three years and may be renewed or extended by the Minister.
Emergency Work Permit – issued for a single occasion to undertake emergency work by an employer not exceeding seven days.
Periodic Work Permit – allows a person to work in the BVI for a single employer for short periods within one year.

The Work Permit Process

Now that you understand the immigration structure in the BVI, we can talk about what to expect in the work permit process! As we mentioned in the beginning, strict work permit regulations ensure that the local population is given preference for positions. A work permit is only granted when there is a proven need due to a lack of local talent to meet the employer's needs. So what does the process look like to showcase that need?

You do not want to book your flight to the BVI until you have the letter stating that your application was approved, or you could be at risk of being turned away at the port of entry and putting your application at risk.

DOCUMENTS YOU WILL NEED

A fully completed work permit application.
A clean police clearance certificate - A certified and signed police clearance certificate from your home district or last place of residence.
Medical Certificates – there is now an option to submit medical certificates from your place of origin or undergo medical examinations in the BVI with a medical practitioner of choice. The immigrant medical examination is only intended to screen for certain medical conditions and should not be considered a complete physical examination. However, it will include, at a minimum, an examination of the eyes, ears, nose, throat, extremities, heart, lungs, abdomen, lymph nodes and skin.
One passport-sized photograph. Colour photo taken within 12 months.
Copies of your professional qualifications and education.
Copy of applicant's signature page of a valid passport.
One professional reference on company letterhead.
One character reference written by a professional or academic who has known you for at least five years (not a relative).

All original/notarized documents should be sent by courier (not regular postal mail).

WHAT HAPPENS NEXT?

If you are considering the British Virgin Islands as your new home, you are in good hands with our team here at CML. We are experienced recruiters here to help you navigate the process in the BVI. Contact info@cml.ky today to speak to our team about how we can assist with the next step in your career journey.

Immigration: Moving to the Cayman Islands

wow@shazamme.com (Default Author) — Mon, 17 Jul 2023 20:39:45 GMT

Are you looking into making a move to the Cayman Islands? In this blog, our team goes through what to expect when looking to move to Cayman so that you can have a clear understanding of what is and is not possible.

The Cayman Islands is an incredible place to work and live, so it’s no wonder that many people wish to call the islands home. As a result, there are strict immigration regulations that are put in place to safeguard the local population of Caymanians, spouses of Caymanians, and Permanent Residents so that they are given ample opportunity, first and foremost, before employers can look to import talent.

This blog will give you a breakdown of the immigration process and answer a few frequently asked questions that our recruitment and immigration teams receive when an individual is looking to move to Cayman.

Understanding the Basics

There are a few different immigration statuses' in the Cayman Islands, so before we go too far in this blog, it is essential to understand what they are and to whom they apply.

Work Permits

Work Permit Types

Note: There is a work permit limit known as a ‘term limit’ in Cayman, where you are only allowed to be considered for the continuous grant of a work permit for up to nine years in most cases. You are eligible to apply for Permanent Residency at the eight-year mark, as we mentioned earlier, and this application must be made before your nine-year term limit if you do not have any other means to work and reside legally on island. If you do not gain permanent residency, you must leave the island for 12 months upon your nine-year term limit and will not have any permissions to be granted any form of work permit until you have ceased to reside in Cayman for one calendar year.

THE WORK PERMIT PROCESS

As we mentioned in the beginning, strict work permit regulations ensure that the local population is given preference for positions. A work permit is only granted when there is a proven need for a suitably qualified individual due to a lack of suitably qualified and available local talent to meet the employer's needs.

You do not want to book your flight to come out to the Cayman Islands until you have the letter stating that your application was approved, as this will most likely result in a decision of refusal. If you are an approved dependent on a work permit and already residing on island, you may remain on island while your permit is processed but may not commence work until you receive the approval letter.

DOCUMENTS YOU WILL NEED

A fully completed work permit application.
A clean police clearance certificate - A certified and signed police clearance certificate from your home district or last place of residence.
A medical cover letter.
One full-face passport-sized photograph.
Notarized copies of your professional qualifications and education.
Birth/Marriage or Civil Partnership Certificates. If you have included dependents on your work permit, you will be required to prove documentation by submitting notarized copies of marriage/civil partnership/birth certificates as appropriate.

All documents can be sent electronically .

WHAT HAPPENS NEXT?

If you are considering the Cayman Islands as your new home, you are in good hands with our team here at CML. Not only are we experienced recruiters, but we have a dedicated immigration team to help our clients, and you navigate this complex process. Reach out today to speak to our team on how we can assist with the next step in your career journey.

How to Find Your Dream Offshore IT Job

Fri, 30 Jun 2023 08:33:19 GMT

In recent years our IT recruitment team here at CML have observed extensive growth in the IT industry in the Cayman Islands, Bermuda & the British Virgin Islands. As the financial and legal industries grow, so do in-house IT teams and consultancies.

We cannot recommend it enough to our experienced candidates to step outside their comfort zones and try something new and in some cases, somewhere new! But how exactly do you go about the process of finding your dream job offshore?

1. What IT Experience Do You Need?

One of the first steps when deciding if relocating offshore is the right step for your career is to reflect on if your skills and qualifications align with the demand offshore.

In-demand IT Skills/Experience

2. Research Life Offshore

If your area of expertise aligns with the above and you have the requisite qualifications in your field, the next step is doing some background research on the different offshore jurisdictions and if you will be happy there . It’s a big step to decide to make a career change and an even bigger step to do so in a new location.

3. Speak to Our Team

You are already halfway there! Now that you’re confident that you have the right skills and that life offshore is truly something meant for you, our team can help you with the next steps. Speak with our IT recruiter about current vacancies and your long-term career goals; in this consultation, we will advise you on what options might best align with these goals and make an action plan to help you achieve them by representing you to our clients.

Hopefully, one of the opportunities returns a positive response to your profile, then the next step is to ace your tech interview in paradise with the help of our team. If not, don’t fret; our team will keep working with you and keep you aware of new opportunities as they arise with our various clients – as long as you don’t give up hope on this dream, neither will we.

Looking for a position offshore? Feel free to contact one of our recruiters at info@cml.ky to start your offshore job search.

What to Include on an Audit Resume

Mon, 12 Jun 2023 05:47:31 GMT

Are you an accounting professional specializing in Audit? If you are, and you’re starting your job search, you want to make sure you showcase the right skills on your audit resume for you to stand out.

It’s no secret that your resume is a crucial part of the job-seeking process; often, it can be the difference between securing an interview and not. Hiring managers and recruiters scan to see if you have the core experience and skills needed for whatever role they’re currently hiring for, so it’s vital to include information and experience that shows you’re the best fit.

This is no different when it comes to audit, so what should you include on your audit resume to ensure that the hiring team feels confident they need to speak with you?

Essential Items to Highlight on your Audit Resume

In this blog, I’m focusing specifically on how to highlight and showcase your audit experience in a meaningful way; for more tips on how to set up your resume in general, feel free to check out some of our more broad-topic articles .

I also have another blog in this series dedicated to what you should include on an insolvency resume , feel free to check that out if this is more closely aligned to your experience and career goals.

Qualifications:

First, you should clearly state your accounting qualification (e.g., ACA, ACCA, CA, CPA).

If you have not completed your qualifications, including the expected completion date is important. For many of the firms we work with offshore, an accounting qualification is a requirement, so you may not be able to be offered a role until you have completed the full qualification. Ensure this information is easily discerned from your resume at first glance, ideally near the top of the page.

Reporting Standards:

Next, you should ensure that you state on your resume which reporting standards you have experience with (e.g., US GAAP, UK GAAP, IFRS etc.). This will give added clarity around your experience and the type of work you have been involved in.

Your Audit Client Portfolio:

Finally, it should come as no surprise that on your audit resume, you will need to highlight your relevant audit experience and we would recommend doing so by highlighting your client portfolio.

List out the industries you have experience within with special emphasis on those that are relevant offshore (e.g., funds, insurance, banking etc.) and revenue size of clients where possible.

Showcasing your Audit Experience

Now that you understand what offshore hiring managers/recruiters are looking for, let’s look at how you can showcase this information. You want it to be easy for the hiring team to see how you could transition your prior experience to their team’s work.

Executive/Profile Summary:

There is no requirement to include a profile summary on your resume, however, it may help to make a clear statement of your relevance to the role in question.

State your current level, how much experience you have, and within which sectors. Keep it clear, to the point, and simple.
Where possible, include revenue sizes of clients and the reporting standards here.

Example:

Audit Senior working at XX. Gained exposure to a vast range of general industry clients, including companies with large turnovers, up to £28.5 million. Experienced reporting under IFRS and UK GAAP.

Work Experience Section:

1. When structuring your experience, we would recommend you list out the client portfolio under your roles and then under each client you include a detailed summary of your duties related to the assignment. You want to include as many numbers, facts and figures as possible, as well as examples of your experience.

1. Involved in the audit of X client/types of clients with revenue/turnover/assets under management of X $value

2. If you are looking for a role with management responsibilities, under your assignments, you should also mention any management/leadership associated.

Example:

XX Client, turnover £XX million – XX Client is a large international real estate agency situated in London, UK. It is part of the XX group, whose turnover in 2019 was over £XX billion.
Held interviews with client teams from all areas of the business to understand and document their revenue, payroll, and fixed assets processes and the related internal controls. Identified any risks associated and documented this in the risk assessment.
Day-to-day management of an audit team of 4, balancing helping and guiding the junior members of the team with technical aspects of the job whilst completing own tasks.
Other relevant assignment duties, etc.
Other relevant assignment duties, etc.

Work with a Recruiter

Our team has helped hundreds of audit professionals with their job searches offshore, and a big part of that process is helping our candidates to showcase their skills as best as possible. We have long-standing and trusted relationships with our clients, with a deep understanding of their work; this understanding puts us in an ideal position to best advise you on what experience should be highlighted on your audit resume so that you have the best chance of securing an interview.

If you are an audit professional looking for a new position offshore, our team is here to help. Reach out to tiara.armitage@cml.ky today for a confidential conversation.

LinkedIn Vs. Traditional Recruitment

Thu, 25 May 2023 10:40:33 GMT

For CML Recruitment, you can find us on most social media platforms – We love them! But are these media platforms pushing traditional recruitment aside?

At the start of our journey, CML learned to use social media platforms to help us recruit and find top candidates. LinkedIn is becoming one of the top ways for employers and job seekers to meet. While this method is simple for both the businesses and job seekers to get to know each other, are they disadvantaged by only using LinkedIn?

LinkedIn vs Traditional Recruitment

Many businesses have turned to social media as an easy and cost-effective way to promote vacant jobs and find interested candidates. But, how does this compare to traditional recruitment marketing? While social media is cost-effective (and so is CML), many people disregard the importance of traditional recruitment. For job seekers, LinkedIn has made it incredibly easy to find vacant jobs that are within your interest and “easy apply” without even the need for a resume, and instead you can apply with your LinkedIn Profile.

The problem with this method can sometimes be that it’s almost too easy, meaning that anyone and everyone are shooting their shot and you’ve got hundreds of applicants to sort through. Is this effective for the business when multiple digital applications spam your inbox in record time?

On the other hand, LinkedIn can sometimes reach a wider audience than traditional recruitment can as that’s quite literally what it was made to do, so in that large pile of resumes you may find your diamond in the rough, especially when looking for a niche or specialist talent.

Traditional Recruitment

Traditional recruitment is becoming a thing of the past with the rise of social media, but there are some aspects that shouldn’t be overlooked. When working in a small employment market like the one in Cayman, it’s important to consider the tradition and time-tested methods that the community is used to.

Print advertising – For decades, job seekers in Cayman have been taught to look in the classifieds of the local newspaper, it would be amiss to give up on that completely because there will be traditionalists who still look to the local Friday paper for their new job.

Word of mouth & referrals – Word travels fast in Cayman on the ‘marl road’. In such a small community, there are major benefits of using this close-knit community to spread the word on positions and potential candidates who might be interested. This type of community support allows for personality in the recruitment process, something that social media cannot always portray so easily.

LinkedIn can make the process easier, but you need to take into consideration the way the community you’re recruiting in works, and in Cayman, especially when looking at the local market there will always be a place for traditional recruitment.

Which Method Should You Use?

None of this is to say that social media is an ineffective way to go when recruiting suitable candidates. If anything, LinkedIn plays a big role in specifically connecting with job seekers easily and finding available candidates. It all depends on how you do it!

So, which one should you choose? We say “Both” – a strategic partnership between technology and human input can be the most effective and holistic approach. Each recruitment method has advantages, but who says you cannot connect on LinkedIn and carry out the recruitment process in person to gain a sense of who your candidates are?

CML Recruitment is far from a traditional agency. Elevate your recruitment processes and discover effective ways to boost your company brand to attract more candidates by contacting us at info@cml.ky.

Human Resources: Why Small Business Should Invest in HR Management

Fri, 28 Apr 2023 14:02:18 GMT

Human Resources is critical to any company’s success, no matter if you are a big or small organisation. However, it is often overlooked by small businesses, and this can be a costly mistake in the long run.

As a small business, you may feel that you don’t have the time or resources to invest in employee management, but human resources is a vital part of running a successful business. It can save you money in the long run when done strategically. If you want to improve employee engagement, be a strong talent attractor, retain your top talent, and increase productivity/profitability, you should be investing time into strengthening your human resources practices.

The Importance of Human Resources

HR in any business, whether big or small, plays a crucial role in developing, reinforcing and changing an organisation’s culture. Having a sound HR backbone for your organisation allows employees to understand the company’s values. Employees feel confident they are in a role that meets their career goals and feel supported to do their best work every day.

As a business owner, having compliant HR policies and procedures that support your staff to do their best work also benefits you. Investing in your HR function will increase performance and productivity that money can’t buy.

Do Small Businesses Need HR?

Many business owners start strong with the launch of their business but struggle with people management as the company begins to flourish. Small businesses can easily miss the importance of HR, as they feel they are too small to need it; with just a few employees, business leaders often feel like they have a strong understanding of the people they hire and manage.

However, as your small business grows, leaders often find there isn’t time to deal with the day-to-day people management, recruitment, training/development, benefits management, payroll and all the other items that come with running a business. When this happens, the focus on people can easily get lost. Ignoring people management is costly and can affect employee satisfaction, culture, and long-term business success.

When employees don’t feel supported, their motivation to perform is impacted. Underdeliver in your HR function, and you’ll see a knock-on effect on your bottom line. People, culture, and business success go hand-in-hand . Can you afford to function without HR? Probably not – the smaller the organisation, the more significant a single mistake/issue/loss of staff member can have on your organisation.

Human Resources Options for Small Businesses

You now understand the importance of investing in the HR function of your business, but how exactly do you do this? As a small business, you must consider cost and scale as part of your decision. We have laid out three potential options that could be applicable depending on your organisation’s needs.

Option One: Hiring an HR professional in-house

The Society of Human Resources Professionals ( SHRM ) recommends that when a business employs 15 staff members, it should hire an HR professional. If you feel that your organisation is in a stage where you may be growing more rapidly or are already nearing 15 employees, it may be time to consider someone on staff permanently (whether full-time or part-time) to oversee the HR function of your business.

Pros:

A dedicated HR professional can help you navigate the complex, ever-changing labour laws that apply to your business and keep you in the know of regulation changes that may affect your business.
An in-house HR professional can be more accessible to employees, increasing employee satisfaction and retention.
Easy access to tailored support as they know and understand your business and can help resolve issues as and when they arise.
An in-house professional can more directly affect the company culture of the business by hosting effective team discussions and engaging events based on team members’ personal needs and interests.

Cons:

There might not be enough work for a full-time HR professional depending on the size of your team, but you could consider a part-time employee in this instance.
You must pay an employee’s salary and benefits, which could be a high cost for a small business.

Option Two: Engaging an Outsourced HR Consultant

Support from an outsourced HR consulting service may be best suited for specific projects in a small business where support is required – for example, redefining your onboarding process or writing company policies/contracts.

Pros:

Allows you to take more of a hands-off approach to the HR function, leaving the work you decide to pass over in the hands of the professionals, following your guidance.
These are professionals who have a strong understanding of common HR practices and local laws/regulations to help ensure you stay compliant.
Access to a wide range of professional expertise.
A dedicated point of contact who can help you with specific issues as they arise.
A partner who has access to a network of other experts and can offer guidance on all areas of your business, not just HR.

Cons:

Outsourced HR Consultants cannot always provide the level of guidance that businesses might require. Small businesses must know what kind of support they should expect before engaging an outsourced HR consultant.

Option Three: Getting HR Advice

In small business, sometimes you just need a little advice to steer you in the right direction. An outsourced HR professional engaged purely to advise you can help with queries you are too busy to deal with when operating a small business.

Pros:

This is the most cost-effective option, as the work remains in your hands, and you are only paying for advice on specific areas where you need additional support and then actioning it yourself once you have clear what needs to be done.

Cons:

It might not be effective if you don’t know exactly what areas you need support and advice in.
This option leaves the actual HR work in your hands as a business and instead just provides you with guidance on what to do, so if you are looking for a hands-off approach where someone takes the work off your plate, this won’t be the right option.

CML’s Human Resources Consulting

CML’s HR Consulting team offers a full service for all sizes of businesses. With CML’s HR Consulting service, we become an extension of your team; we are there to guide you every step of the way and take the stress out of HR processes so you can focus on running your business.

If you are interested in learning more about our HR Consulting Services, please get in touch with our HR team to discuss how we can assist you with your HR journey.

Cayman Islands IT Jobs Frequently Asked Questions

Fri, 06 Jan 2023 11:18:15 GMT

If you’re looking for an exciting IT career and are considering IT jobs in Cayman, CML Offshore Recruitment is the number one specialist recruitment consultancy for IT professionals in the Cayman Islands.

Nobody understands the offshore market like CML and that’s not just something we like to say, it’s true. Our consultants have diverse offshore experience and unrivaled market knowledge. All of our consultants have lived and worked offshore, making them ideally placed to advise you on every aspect of your first, or next offshore move.

Here, we answer some of the most frequently asked questions about IT jobs in Cayman:

Q: What IT experience do companies in the Cayman Islands typically recruit?

Historically, the primary industries in Cayman that recruit IT talent have been the financial services and legal sectors (see our blog here on the types of companies in Cayman) ; however, there has been growth in different industries over the past decade or so.

In terms of the specific experience that employers are looking for, it depends on the company and the IT team they have. Still, typically roles can be divided into software, hardware & more business-focused positions. It is also important to note the majority of roles here in Cayman are mid to senior-level positions, with C level tech roles coming up quite infrequently (approx. once per year if even).

Q: How much experience do I need for IT jobs in Cayman?

In short, most employers require at least three years of commercial experience for all roles plus a degree or relevant, up-to-date certifications for your niche .

Requirements will vary from position to position, but it is crucial to understand the relevance of this experience when considering the immigration process in the Cayman Islands (outlined below).

Think you have what it takes? Read more on how to land your dream IT job in paradise here.

Q: What are the immigration requirements for IT jobs in Cayman?

Cayman, BVI, and Bermuda require non-citizens to have work permits, which must be obtained by the employer based on a specific job. To gain a work permit for the Cayman Islands, candidates need to be an exact fit for the role they are applying for, so qualifications are essential, as are years of experience.

Concerning relocating with a partner or spouse, a legal spouse can be classified as a ‘dependent’ on their partner’s work permit to reside on-island. They are also legally permitted to search for work as a ‘dependent’ on their spouse’s permit. Unmarried partners are not permitted to reside in Cayman without having a job and permit of their own.

Q: What can I expect to earn working in IT in the Cayman Islands?

Earning potential depends wholly on the organization, the role itself, and your level of experience. Still, typically salaries are competitive (especially when considering the tax-free element) and are a massive incentive for IT professionals looking to take their career offshore.

A lot of companies offer a bonus on top of the stated salaries listed above, so it is worth considering what the entire package looks like when looking at compensation. All companies on island also offer benefits (and often relocation packages) as well, which can significantly increase the value of a compensation package.

Q: How do the working hours in Cayman compare globally?

Working hours are pretty standard but do vary between companies and industry sectors, but as a general rule of thumb, you can expect to work a ‘standard working week’ where overtime is the exception to the rule. Contrary to popular belief, we don’t all work from the beach (but it is a popular spot pretty much any other time!).

One of the best things about working in Cayman is that commute times are negligible as offices are generally in very close proximity to home, so you can often be at work within 10 minutes (maybe 15 if you hit traffic). It’s also worth noting that across the board, most companies have a work-life balance at the core of their company culture, with many finishing early on Fridays and many having flexible start-times.

Q: What does the tech scene look like in Cayman?

The Cayman Islands, more routinely known for its outsized financial industry, is fast becoming one of the world’s fastest-growing technology centers. All of that growth can be attributed to government incentives and Cayman Enterprise City (CEC) who have brought fast-growing tech companies on island in recent years.

Not only have they had an impact on the growth of the industry, but also in creating a tech community through initiatives such as Code Cayman & Digital Cayman tech talks, which have created a space for techies to meet up more regularly and meet others on island within the industry.

For more information on IT jobs in Cayman, register as a candidate and a member of our team will be in touch to discuss opportunities.

What are the Most Desired IT Qualifications in Cayman?

Fri, 06 Jan 2023 10:35:48 GMT

Are you considering an IT career in Cayman? If you are, it’s important to understand the IT qualifications that employers look for in top talent when hiring in offshore jurisdictions so that you can market yourself as best as possible.

Although the IT offshore industry may be small, it is vibrant. After all, every company in the world needs to have the latest cutting-edge technology running efficiently and cost-effectively on a well-maintained network. Additionally, in the more structured IT departments, there will also be an established hierarchy in place.

So how do you get ahead in the field? Here, we will examine which IT qualifications/certifications are recommended across the various IT sectors.

IT Qualifications

There are four main types of certifications/qualifications that are recommended for offshore roles, regardless of whether you are applying to be CIO, Team Leader, Senior or Junior Team Member (although of course relevant to the type of position applied for).

In many jurisdictions, qualifications are not a deal-breaker (or even essential in some cases) for tech workers, as experience can be the most significant learning experience anyone can have. Working your way through the ranks from IT support to senior network engineer without a degree could even be quite common, especially in years gone by. Unfortunately, that is not the case here, and although there are some exceptions, a degree or updated certifications are often a prerequisite for roles here.

There are a couple of reasons for this, with immigration being the predominant one. Aside from that, a lot of the managed services providers have strong vendor relationships with course providers & like to be able to tell clients that all staff either have or are working towards the latest certs.

The four main qualification areas are:

1. Education (Degree, Masters, Diploma)
2. Software Development
3. Network / Server
4. Project / Miscellaneous

Education:

Most employers, when requesting specific qualifications relating to education, will be referring to university. In IT circles, you can’t go wrong with a Degree or Masters in any of the following; Information Technology, Computer Science, Computer Engineering, Information Systems Management, and Computer Systems Technology. Of course, this is only a brief list as all universities and education facilities will have their unique paths, however, I’m sure you get the picture.

Alternatively, many companies will also accept a Degree or Masters in a subject more relevant to their core activity. Offshore this may include; Mathematics, Business Administration, Finance, Accounting, Engineering, and Science. Study and a relevant qualification in any of the above will undoubtedly put you to the top of the list.

Software:

There are so many types of software accreditations available; at times, it can be challenging to keep up. This is especially the case with IT because so many certificates and qualifications are upgraded every couple of years to keep pace with the new releases of various technologies. Without delving too deeply into the rationale behind the following certificates (many of which should hopefully be second nature or self-explanatory), these are the ones that feature most prominently on employers’ candidate wish lists.

Microsoft qualifications are often at the top of the wish list, as the majority of companies on island are Microsoft based. For a comprehensive listing of all Microsoft qualifications from .NET developer to Microsoft Certified Professional , including all specific technologies like SQL, SharePoint, and Great Plains , this link is a great place to start . This article also includes qualifications relevant to a Networker.
Cloud-based development, especially using Azure , is becoming more common among companies here, so no harm doing some courses in that area also.
Additionally, there are specific certifications for Databases – Oracle, SAP, PeopleSoft, JD Edwards all run schemes – however, it’s worth noting that the most popular Offshore are Microsoft SQL and Access, Oracle, and SAP . As the company list here in Cayman grows, there are certainly some exceptions to these key technologies, with a small proportion delving into Python & cloud-based AWS.

These are some (by no means all) of the major certificates requested, however, if you wish to go down the developer/programmer route, they are an excellent place to start. It’s also worth noting here that while qualifications are important within the programming world if you are a talented developer without these, it is still worth reaching out. I would encourage any programmers to have a portfolio (on GitHub or something similar) to be able to showcase your work. I have seen exceptions made in some instances where a super strong candidate has blown a client away with their work.

Network/Server:

For a networker, again, there are many different types of accreditation, which you can see a comprehensive list here ; Microsoft products, certifications for Servers, Databases, and Exchanges are all highly recommended to be a Network Engineer, Infrastructure specialist and so on.

Most networks across the world are created using Cisco or IBM technologies. I feel Cisco to be more suitable to those with offshore aspirations, so getting on the ladder with any of these is highly recommended, read more about CISCO certifications here . It goes without saying that with Cisco qualifications is an inherent knowledge of routers, switches, firewalls, telephony, cabling, and physical networks.

In this day and age and with the types of companies found offshore (Financial Services, Legal, and Public Practice), there is a considerable demand for Security and Information specialists. By no means all, but the highly sought-after qualifications are in VMware, ISO, CISSP, PCI, COBIT, GIAC, CISM, CEH, CompTIA Security +, OSCP, CCSP, and CCSA.

Again, this is only a populous list of the accreditations sought after by employers for Networker, Server and Security specialists looking to work in offshore jurisdictions.

Project/Miscellaneous IT Qualifications:

Other qualifications can be featured on the wish lists of employers; These can’t be pigeonholed into the above, but again, come highly recommended. They are more pertinent to the more senior IT candidates and those with project and methodology exposure. For instance, Prince II, Six Sigma, ITIL, PMP, PMI, SOA, OOA, Agile, Scrum, & Waterfall.

These, while not having the immediate commercial gains as say a CCNA or .Net Developmental certificate, are of value because they demonstrate an understanding of the methodologies based on iterative and spiral developments proving demonstrable cross-team and architectural expertise. For example, with project management & business analyst positions (both areas which are incredibly competitive for overseas candidates), the above qualifications could likely be a differentiating factor between candidates.

In many cases in today’s saturated candidate market, it may prove that an additional qualification or certificate is enough to capture that all-important interview . As this is the case, I hope the information above proves to be of some value to help form an understanding of what employers are looking for in candidates and also enable you to get a leg up on the competition when planning your next career move.

If you are interested in speaking about IT opportunities, please register as a candidate and I will be in touch as soon as possible to discuss your profile in more detail. For more information about securing an IT position in Cayman, read our FAQs here .

Regulatory Boom Impacting Cayman Legal Recruitment

Tue, 20 Dec 2022 05:46:28 GMT

Recently, we have seen significant demand for legal expertise in the regulatory and compliance spheres, and this is a trend that is gathering pace offshore due to what can only be described as an onslaught of global financial regulation over the last few years.

Two sides of the same coin

As financial institutions and companies around the world face an ever more complex operating environment, it’s their legal advisors who are best placed to help negotiate the new rules and regulations now in place. As leading centers for the domicile of investment funds and corporate structures for global capital deployment, it has been the offshore financial centers where much of the regulatory focus has been directed. As the major law firms, notably in the Cayman Islands, have seen an increasing share of work on the regulatory side, they have in turn directed significant resources to build out their regulatory and risk practices. Partners with dedicated experience in this area are heading up the teams and gaining a much higher profile in the industry as a result.

This trend has also filtered through to the recruitment side, and the numerous requests we are seeing for lawyers with a regulatory background and experience of working directly alongside global regulatory bodies were simply not happening four or five years ago.

The widespread regulatory changes implemented worldwide began initially as a response to the global financial crisis in 2008 when banks deemed too big to fail did just that, and both hedge funds and offshore centers were cast as the villains, as liquidity in the global financial system dried up. First in the US came the Dodd-Frank legislation and the Volcker Rule , which were put in place to curtail how banks were to some degree, operating as their own hedge funds through proprietary accounts. For the US financial institutions operating in the Cayman Islands, these new laws meant a new level of compliance headaches and the need for specialist offshore counsel.

Also worth mentioning is the controversial issue of beneficial ownership registers. This has kept regulatory concerns firmly on the agenda in the offshore world, with the UK parliament insisting that its Overseas Territories adhere to proposals to introduce a public register of beneficial ownership interests, which is being fiercely resisted by the Cayman Islands government.

Europe has also been the scene of significant regulatory upheaval in recent years, not least with the Alternative Investment Fund Managers Directive (AIFMD), which governs how investment funds are sold and marketed in the EU. The Cayman Islands’ legislature went to great lengths to introduce an AIFMD compliant framework for funds and managers that wish to operate in Europe.

Regulatory fatigue

Global regulatory changes directed more specifically at offshore centers, concerned primarily with issues of tax information reporting have dominated discussions between funds, companies and their legal advisors, with the US FATCA legislation and the OECD’s Common Reporting Standards ushering in a plethora of new reporting requirements. Together, this legislative revolving door has left the financial services industry in a state of regulatory fatigue and it has been a constant struggle and expense for fund managers, particularly new entrants to the business to try and keep up with the pace of change.

GDPR exacerbated this further for Cayman service providers, and this particular piece of legislation has had far-reaching implications beyond the world of finance. These regulations seek to protect the personal data of EU citizens in a new age of big data and cybercrime. The extraterritorial nature of the legislation means that even if a company or investment fund is not located in the EU, it could face potential penalties of EUR 20 million, or 4 percent of turnover if greater, for failing to comply with rules protecting European data subjects.

Local regulatory changes have also been important areas of interest to clients of Cayman Islands law firms, notably the revised Anti Money Laundering Regulations, which in addition to bringing a large number of unregulated entities into the scope of the law, required corporate bodies and investment funds to appoint individuals to key compliance positions, which has been a catalyst for the increased demand for compliance and regulatory work.

This UK and EU rhetoric led to Cayman being placed on the FATF (Financial Action Task Force) grey list and the EU’s grey list in 2022. This was unwelcome news for the Cayman Islands as a jurisdiction by many industry professionals as an unfair overreach. Local regulators, government, quasi-government bodies, law firms and accounting firms are now all working in unison to remove Cayman from these lists. It is anticipated that they will be successful by late 2023.

A hallmark of the local legal market in the Cayman Islands has always been the combination of high-quality work, of an equivalent standard to any major financial capital, with the benefit of a work-life balance that you simply can’t find onshore. For a leading offshore jurisdiction like the Cayman Islands, its growing risk and regulatory practices encompass such areas as anti-money laundering, bribery and corruption, corporate disputes, and the regulatory impact of mergers, sanctions, market abuse, insider dealing, and regulatory investigations. As the regulatory picture continues to evolve both offshore and in a global financial context, demands on Cayman’s legal professionals are likely to remain strong in this area, representing a significant opportunity for career advancement.

For more information on the Cayman regulatory market, please contact Graham Blyth at graham@cml.ky

FS Recruitment Apprentice: Triumph, Failures and Motivation

Wed, 14 Sep 2022 06:44:33 GMT

We often hear and say things like ‘time is going so fast’ or ‘wow, it’s September already, that’s crazy!’ but I’ve never truly felt it until this moment. This year has been a whirlwind, and still, it’s only just the beginning of my apprentice journey!

Forensics isn’t just a Term they use on Crime Shows

I started as CML’s first-ever Financial Services Recruitment Apprentice last year with a drive for HR but no idea or experience of what it could be like from all sides. One year in, I’ve expanded my knowledge and skillset in many different areas, exceeding my expectations. Six months ago, I was learning about the Financial Services industry on and off island. From what an Audit Senior was, to how much of the world’s hedge funds are located in the Cayman Islands (spoiler, it’s over 60%), to discovering that forensics isn’t just a term they use on crime shows.

Immigration, HR Consulting and Recruitment are all in a Day’s Work

The apprenticeship program is a 24-month rotational program, so after my first year in the books, I’m beginning to venture out to other teams in our company, where I’m learning even more. Through the apprentice rotation, I am now getting exposure within our Immigration Team , our HR Consulting team , our sister company, Nova Recruitment , and our non-profit Connect by Nova . I could start my day sourcing for Audit candidates and then sit in on a meeting with a student looking for resume assistance. The next minute I could assist with a work permit application or meet with a client to discuss a new HR assistance plan. Through the rotation, I can see all the different aspects of the world of HR and employment services, try my hand at them all and start to see where my passions truly lie within this vast industry.

Upliftment from my Colleagues got me Through

A journey isn’t without a few hiccups along the way; In my blog six months ago , I mentioned I was about to take my on-island HR Certification with the hope of writing this after receiving it. I undertook the training, connected with HR directors and students, and sat for my exam. Unfortunately, I missed the mark by 1 point. I was met with nothing but upliftment from colleagues with offers to help me study or to give me crash courses, and I will be taking full advantage of this to prepare for my exam retake in a few weeks.

With a year left of my apprenticeship, there are still so many things for me to experience and master with new exams to take and pass (fingers crossed!). It’s wonderful to look back on my progress so far, but it also makes me excited for what lies ahead. This journey is full of triumphs and failures, and I am thankful to be surrounded by those who motivate me.

Till next time, your 2021 CML FS Recruitment Apprentice Jada !

Getting Admitted as a Lawyer in Cayman

Tue, 16 Aug 2022 07:19:16 GMT

“What are the requirements and process of being admitted as a lawyer in the Cayman Islands?”

This is one of the many questions our team get asked on a daily basis when someone is considering relocating to the jurisdiction – read on to find out more about working as a lawyer in Cayman.

Requirements to be admitted as a lawyer in Cayman – For non-Caymanians

To be able to practice law in the Cayman Islands you need to have been admitted as a lawyer in the United Kingdom, Jamaica or any court of the Commonwealth and possess a qualification comparable to standard law, practice and procedure in those countries specified above.

Typically this means lawyers from Australia, New Zealand, Canada and certain other Caribbean nations. In addition, you will also need to have gained at least 3 years PQE in your home jurisdiction. Many of the major law firms will interview candidates at the two-and-a-half-year mark with a view to employing them shortly after reaching 3PQE.

Before a work permit can be granted for a newly hired lawyer, the work permit application must be approved by The Attorney General’s office. The Attorney General will examine the issue of whether the lawyer has gained the requisite experience in order to be eligible for admission to the Cayman Bar.

Within the first month of a lawyer starting work in the Cayman Islands, their formal admission ceremony will take place at the Grand Court.

Are you a qualified lawyer looking into a career offshore? Our team would be happy to answer any of your questions. Please get in contact with Graham Blyth for more information at graham.blyth@cml.ky for a confidential conversation.

How to Register Your Newborn Baby With Cayman Immigration

Wed, 13 Jul 2022 08:52:47 GMT

While you and your spouse may have the right to live and work here in the Cayman Islands, this may not be the case for your new baby. What do you need to do to ensure your new baby is compliant?

The Situation

Do this sound like your situation? “ My spouse and I live and work in the Cayman Islands on work permits. We’ve been here three years and have just had a beautiful bouncing baby boy. His birth certificate states he was born in Cayman, so no Immigration worries, right?”

While we wish it were this simple, we must tell you “No.” While you and your spouse may have the requisite documentation to work and reside here in the Cayman Islands, this is not the case with your newborn. It may be quite a shock to many work permit holders to discover that their newborn does not have immigration status simply through birth.

Getting Your New Baby Regularized

If you have recently expanded your family, you must go to the Cayman Islands Custom and Border Control Department with a copy of your baby’s birth certificate.

The Officer at the “Extension Counter” will land and condition your child accordingly and give ample authorization for the amendment to be reviewed. You will be provided with an Embarkation / Disembarkation card as a substitute for a travel document that will be endorsed until the same has been obtained

This process of regularization is quite a formality, but until you have completed the process, your child has not been legally landed in the Cayman Islands. In other words, your newborn is considered to be living in the islands illegally.

Additionally, you will also need to have your child added to your work permit as a dependent .

Have more questions about different immigration processes in Cayman? Reach out to our immigration team at immigration@cml.ky to see if our team can assist you further.

Temporary Work with CML: The Advantages

Fri, 08 Jul 2022 09:03:49 GMT

Contract and temporary work can be a positive way to further your career and gain exposure to new industries and skills.

Many assume that only new arrivals on the island or those suddenly finding themselves out of work choose to do ‘temporary/contract work’; however, many people actively choose to undertake temporary assignments. Why is this? Lifestyle choice, career advancement advantages, introduction to a new career or simply a chance to convert educational theory into practical experience.

Candidates often assume that temping is only ever to cover sickness, maternity or extra work in busier times. Still, we receive requests from our clients for CML Contract employees for many other reasons, but these do tend to be some of the more common ones.

We have assignments to work on special projects such as implementing new systems and processes, training staff members with new programs/policies, providing support or management of office moves and relocations and introducing new skills policies to established departments.

Many clients also recruit temporary/contract candidates in order to spend time analyzing both performance and personality fit for a permanent position. This period is an opportunity for both parties to demonstrate what is on offer long term and what it is really like to be part of the team. “Try before you buy” for both candidate and employer.

Advantages of Temporary Work

An opportunity to measure your fit with management styles and company culture
A chance to confirm the position is the right fit for your skills, career aspirations and ambition.
Long-term flexibility
Exposure to different industries, companies and departments
Gaining new skills, training and career opportunities
Receiving an hourly rate for the work you do, including overtime pay for extra hours, weekends or public holidays
To make long-term connections with high-profile contacts

Many assume that contracting is a short-term role with low hourly pay, no holiday or sickness entitlement, and no long-term prospects, but contracting can be so different. CML Offshore Recruitment contract temporary workers receive holiday entitlement, sickness, and overtime rates, and we contribute to both health insurance and pension plans. We pay bi-weekly and are always on hand to help with any queries.

Are you interested in contract/temporary work? Please get in touch by emailing info@cml.ky , or check out our current job vacancies .

The Recruitment Process: How To Find The Perfect Candidate

Mon, 04 Jul 2022 09:17:04 GMT

We know hiring the perfect candidate can be intimidating, but CML is here to break down the recruitment process for you into its simplest parts! By using the points below you can help to streamline the process and gain a selection of near-perfect candidates for your review when working with our team.

The Recruitment Process

Let’s find the perfect candidate!

1. The “Must-Have” and “Want-to-Have” Lists

As a hiring manager, we are sure you may have a few requirements for the ideal person you’re looking to join your team. By providing criteria, your recruiter is able to pinpoint suitable candidates that fit your role. This also helps recruiters find the most qualified candidates, who will fit into your team and meet your target.

We’d recommend creating a list of “must-haves” and a list of “want-to-haves” as that will help us better understand the needs of the position, express that position to interested candidates and ultimately find you the ideal fit.

2. Company Research

For us to find the best fit for you, we need to understand more than just the basics of the position and individual you’re looking for, because just like you have “must-have”/”want-to-have” lists as a hiring manager, so do candidates. By giving us insights into your culture and team, benefits offered and any other perks of joining your company, we will better be able to represent you and answer questions candidates may have on your behalf.

3. Start Searching

Once we have a clear understanding, we would then begin our sourcing process which is omnichannel across social media, print media, email marketing to our already established database of candidates and LinkedIn searching just to name a few. You can also utilize these channels internally when sourcing candidates, our team just does this for a living so we have everything streamlined and ready to go once you give us the greenlight.

4. Narrow Down the Applicants

Now that we know your needs, before we send any candidates over to you we would narrow down the applicants and only present you with those that meet the requirements you initially stated so that nobody’s time is wasted. This narrowing down process includes a thorough interview by one of our recruiters here at CML and any testing requirements you want. CML has a wide variety of skills tests to choose from so feel free to ask your recruiter about what might be best for the type of position your currently recruiting.

5. Closing the Deal

Making a career move is a daunting prospect for anyone, so timing is of utmost importance. Push too soon for an answer and they may be inclined not to budge; wait too long and they may be enticed to stay at their current position, or even worse, take up another role. Our team is very experienced in handling this part of the process and will also be able to tell you if any additional perks or bonuses will sway the candidate your way

The CML Recruitment team are extremely experienced at navigating the recruitment process! To discover more tips and tricks on how to implement the recruitment process and hire the perfect candidate please contact one of our knowledgeable consultants at info@cml.ky .

Why Startups Need a Recruiter

Thu, 30 Jun 2022 10:55:44 GMT

Many startups believe they do not need the help of a recruiter because they believe recruitment agencies are only created for larger organizations. Is this true?

The simple truth is that is one of the biggest misconceptions in the world of recruitment. Recruitment agencies cater to everyone’s needs! As recruiters, it is our job to assist any business that needs our help, especially startups.

Why Startups Need A Recruiter

Business Insider Jeff Bussgang wrote a great article on why it is important to consider recruitment to be a critical aspect of their business plans – and potential long-term success.

" As an entrepreneur, I was initially very sceptical of fast-talking, expensive recruiters. I thought hiring them represented a personal failure on my part as an entrepreneur. After all, it was my job to secure the best and brightest talent through my own efforts and my own network. But my years of recruiting have taught me that startup CEOs are at a distinct competitive disadvantage if they don’t get outside help for recruiting.

Jeff goes on to outline the key reasons why getting a recruiter is so important. Specifically, he says there is never enough time to complete the recruitment process effectively. Why is this the case?

Managers are often inexperienced at finding persons and the hiring process in general.
Managers often cannot sell job opportunities as well as they can sell their businesses.
Recruiters are focussed on closing the candidate, not pushing the business.
A recruiter’s depth of reference and background checking will almost always surpass that of a manager.

The Benefits of Utilizing an Agency

As their name would suggest, startups are relatively new to the game, and many believe recruiting is a simple task. This is the case until they begin the process themselves and hit unnecessary roadblocks that could have been avoided with the help of a recruiter. The last thing any business owner wants is to hire the wrong employee. Let’s combat that!

To many organizations, large or small, searching for the right candidates can become tricky, time-consuming and stressful. From searching for the right platforms to advertise on, promoting the job skillfully, receiving the resumes, shortlisting and then eventually interviewing, recruiting can be a very long process. So, why not let the professionals do the heavy lifting for you? One of the main benefits of hiring a recruiter is to boost efficiency in finding qualified employees for your startup so that you can keep focusing on what matters: running your new business.

A recruiter is able to use their knowledge and resources to find the best candidates for your organization in half the time it would have taken the startup to promote and plan. This then allows the business owner to use their free time to boost their own business and prep for their new employee!

Are you a startup looking to find the perfect employee for your team? Let CML do the heavy lifting and help you through the process. For more information on the services we offer, please contact the team at info@cml.ky today for a confidential conversation.

Which Offshore Jurisdiction is Best for You?

Tue, 28 Jun 2022 11:25:11 GMT

Here at CML Recruitment, our teams recruit in multiple offshore jurisdictions but primarily service the Cayman Islands (where we are located), Bermuda and the British Virgin Islands. One of the main questions from our candidates looking to move offshore is which jurisdiction is best for them?

Offshore Snapshot

The Cayman Islands – for those looking for a luxurious beach lifestyle in a tax-free international, cosmopolitan jurisdiction.
The British Virgin Islands (BVI) – these islands are ideal for those dreaming of island hopping in search of the perfect secluded island cove and living the stereotypical slow, pared-back island life.
Bermuda – the best of both worlds, with its laid-back, old-fashioned charm, Bermuda is waiting for you to explore its hidden trails and enjoy the cool island breeze, whilst still having high-end comforts from home

Keep reading for some of the main points to consider with each jurisdiction so that you can make a decision that suits your unique lifestyle and career goals best.

The Cayman Islands

Grand Cayman is where we proudly have our headquarters for the CML team. It is an incredible location for individuals looking to further their careers with a luxurious beach lifestyle and most of the perks from back home, wherever that may be. Cayman is home to multiple high-end restaurants and bars and has a lively recreational/sports community and breathtaking beaches to kick back and relax on.

Most of the jobs in Cayman tend to be in the district of George Town, a more developed area due to the capital of the same name and the famed Seven Mile Beach. As this is the case, most newcomers to the island find themselves living in and around this area, but if you are looking for laid-back, slow-paced island life, you can still find this in some of the other districts. In general, you should expect Cayman to be a little more developed and luxurious than the other offshore jurisdictions in this article.

Financial Services Careers in Cayman

The Cayman Islands are a perfect location to enhance a career in Financial Services due to its world-class reputation as a leading international financial centre. The islands are a leading jurisdiction for professionals looking to further their careers in audit, international hedge funds, captive insurance, banking & trusts, insolvency & restructuring, capital markets and fiduciary services.

Legal Careers in Cayman

Legal careers in Cayman can take many forms, but most positions revolve around funds and regulatory work due to the proportionally high number of regulated funds in the region and compliance changes brought forth in recent years. Dispute reolustion, SPAC work, crypto, global insurance/reinsurance, and high-profile M&A deals are also key practice areas for many of the jurisdictions’ firms.

IT Careers in Cayman

Over the last decade, there has been extensive growth in the IT industry in the Cayman Islands. As the financial and legal sectors on island grow, so do in-house IT teams and consultancies. The primary industries that IT professionals in Grand Cayman specialise in are banking, legal, audit and consultancy.

Roles generally in demand in Grand Cayman range from mid-level opportunities to executive-level roles within software development/testing (specifically .NET), cyber security, IT project management/BA and network consultants.

To learn more about life in the Cayman Islands, feel free to check out our guides here:

The British Virgin Islands (BVI)

The BVI are a relaxed chain of islands that truly embody what you think of when you picture living on an island in the Caribbean; beautiful bays fringed with white sand beaches that stretch up to meet dramatic mountain vistas and island hopping via boat on the weekends to find the perfect sundowner spot. Life in the BVI is a little more rustic and laid back than in Cayman, so it may be more suited for those looking for more of an adventure and who aren’t afraid to get their feet wet along the way.

Financial Services Careers in BVI

Similar to Cayman, many positions within the financial services industry in BVI include roles with leading audit and accountancy practices, insurance managers, hedge funds, banks, and specialty insolvency & restructuring firms. Due to its size, the BVI’s offers financial services professionals the opportunity to work in smaller teams and become integral to the business.

Legal Careers in BVI

As a leading offshore financial centre, legal careers in the BVI primarily deal with insolvency, trust, company, banking, and insurance laws. In the past few years, many firms in the jurisdiction have seen an uptick in Insolvency proceedings, M&A deals, Crypto/digital asset work as well as closed-end and incubator funds.

IT Careers in BVI

Technology is a lesser-known industry in the BVI; however, it is indeed experiencing some growth. The local market can cover most support-level positions, so more senior-level roles are likely to be available in IT within this jurisdiction. Like the Cayman Islands, you will also find teams in the BVI smaller, allowing your role to be even more all-encompassing.

To learn more about life in the British Virgin Islands, feel free to check out our guides here:

Bermuda

Bermuda is another incredible island nation that offers a low-tax lifestyle of dramatic coastlines, fantastic diving, and a warm, welcome island culture. A low-tax jurisdiction, Bermuda offers laid-back island charm, but with adventure abound, this is an island meant for those who want to explore and discover hidden trails/parks and then spend the afternoon with their feet up as they take in the cool island breeze.

Financial Services Careers in Bermuda

A jurisdiction of choice for funds and asset finance, Bermuda is also recognized as one of the world leaders in Insurance, Reinsurance, and Captive Insurance, with this sector being one of the largest in the world.

Legal Careers in Bermuda

With a significant focus on the insurance market, much of the legal work surrounds this industry, including reinsurer captives, insurance-linked funds, and funds investing in insurtech products and blockchain technologies.

The regulatory environment in Bermuda is changing, with compliance taking centre stage, so it is expected that there will be growth in regulatory roles. Also expected is development within the fintech space due to recent acts that allow for the possibility of digital asset businesses to set up and be regulated in Bermuda.

IT Careers in Bermuda

The Bermuda market is predominantly focused on the insurance and reinsurance industries mentioned above, so it is no surprise that the vast majority of IT opportunities come up within those sectors. In the past few years, there has been movement in the digital asset space with regulations providing potential for growth in this area and an expected staffing need to back this growing industry.

To learn more about life in Bermuda, feel free to check out our guides here:

If you are looking to take your career offshore in the FS, IT or Legal space, then you are in the right place. Reach out to our team today at info@cml.ky for a confidential conversation, and we can advise you on opportunities that would best suit your career goals.

A Hybrid Office: A New Way of Working for CML

Fri, 24 Jun 2022 11:57:56 GMT

We’ve got a new office and we’re pretty proud of it; keep reading to see everything that went into the design of our hybrid office!

At the start of the pandemic in March 2020, our teams at CML, Nova, and Connect by Nova went fully remote and changed how our teams work. With government regulations requiring remote work, and a unique situation where we had given notice to our former landlord but were no longer going ahead with the move, meant that we were pushed into remote working whether we liked it or not .

Fast forward to 2022, after all the lessons the pandemic taught us , we revisited how our teams work best and have embraced a hybrid office and working model that allows for remote work and collaborative team time in a dedicated, purpose-built space when our staff need it.

“Do We Need an Office?”

For a while, we weren’t sure we needed an office – our staff loved working from home and benefiting from the work-life balance that comes with this, so couldn’t we just keep working remotely full time? In theory, yes, but we found that while it was working and we were adapting to this new work model, it became clear that our staff still felt something was missing, and they craved a space to come together.

We listened to our staff’s needs and started our journey towards the hybrid office and working model we have today that offers the best of both worlds. As a result of this approach, our team benefits from working at home when they choose, but they also have the choice to spend time together in our enhanced office, Workplace 3.0.

Introducing Workplace 3.0

Morgan Lovell, a workplace consulting firm operating out of the UK, coined the term “Workplace 3.0”, this concept is what our team kept front of mind when designing our new office. Morgan Lovell describes office spaces over time in three different stages; our stages are slightly different from their core concept but, in general, align quite closely.

The Three Workplace Stages of CML:

Workplace 1.0 – The traditional office, where you work from a desk or briefly go to a meeting room when needing to collaborate. This was our office style pre-pandemic.
Workplace 2.0 – Morgan Lovell attributes this stage as open plan desking with some more comfortable workspaces, but for our team, workplace 2.0 was our fully remote work environment during the pandemic.
Workplace 3.0 – Our new office environment, where work becomes a destination, is built with the different working styles of the employees that make our organization unique.

Our Hybrid Office

Our new space is built on a hybrid office and working model that aims to empower our staff with spaces that fit their unique working styles and needs, giving them an environment to do their best work. We appreciate that how one team or individual works best may differ entirely from another, and that depending on the specific work being done this can also change from moment to moment, so we’ve created spaces that cater to introverts, extroverts, traditional desk lovers, couch potatoes and movie buffs alike.

Some of the spaces our team can work from are:

Communal hot-desking spaces – while many choose to sit with their teams if all are in the office at the same time, this hot-desking arrangement also enables staff to sit with other departments and cross-collaborate, senior management to integrate with different teams and new starters to feel at home in the wider organization much quicker.
Lounge-style workspaces – with high-top, bench, booth and bistro-style seating these spaces are perfect for staff that prefer a more casual or independent workspace.
Focus spaces – with standing desks, second screens and more, these spaces have all the tech to work on a larger scale for focus work or when you just need a break from the hustle and bustle of the communal areas.
Informal, private, living-room-style think tanks – these spaces are fitted with televisions for casual meetings, focus work or breakout sessions. In fact, I’m currently in one of these rooms watching the newest season of Stranger Things while I write this blog.
Formal meeting rooms – fitted with technology to dial in remote workers, clients and candidates.

Some of the technology we’ve incorporated:

Tech dispensary – laptop stands, wireless mice, keyboards and second screens to allow for more ergonomic conscious working.
Portable large-screen televisions – these TVs fit seamlessly at the end of desks and booths to create enclosed spaces so staff can take meetings to the big screen whenever they need to work seamlessly with those away from the office.
Full-room and wide-angle cameras – for remote staff, clients or candidates to feel like they’re there in person.
Room/desk booking platforms – so that staff can ensure they have what they need ahead of time.

Other considerations for our hybrid office:

Personal lockers – with implementing hot-desking, this means staff don’t have assigned seating or desks, and therefore no drawers to keep things in like you traditionally would. To combat this, we have a bank of lockers for our staff to keep anything they like while in the office.
Coffee – our team are caffeine fiends, so we knew we needed something that delivered. We’ve got a fully stocked café with an espresso machine, milk frother, a range of flavoured syrups, and a bistro seating area to encourage some of the old “water cooler” chat in our new space.
“The little things” – With staff having worked from home for the better part of 2 years, we knew the importance of integrating the comforts of home, so we have room & linen sprays, oil diffusers and throw blankets to name a few, ensuring it’s a welcoming space and not a sterile work environment from the past.
Lots of natural light – when deciding on the right office for us, we knew that natural light, open space and an airy feel were paramount to making staff feel comfortable.
Plants, plants and more plants! – I may be biased because I love plants, but this was something that I felt was non-negotiable for the office and faux wasn’t going to cut it. By having 25+ plants throughout the office, they quite literally breathe life into the space.
General Health & Wellness – with the pandemic fresh in our minds, one of the largest considerations when choosing and building our dream office was the health and wellness of our staff. By having so many spaces for staff to choose to work from (as well as the continued ability to WFH) we can ensure that everyone feels comfortable in an environment conscious of their overall health.

We’re proud of our office and especially proud of the team that we built it for. We’d love for you to come and check it out, so feel free to reach out to a member of our team or email info@cml.ky for a catchup and let’s chat about your career or hiring needs as we make you a hot cuppa in our new hybrid office.

We couldn’t have made this office as special without the help of the different vendors on the island, so thank you to Workplace Environments, Hüis, Anna Hislop Home, Label C Designs, Creative Tech, Vigoro Nursery, Austin Building & Maintenance, and Design Cayman for working with our team to make our space so beautiful.

3 Important Traits of A Successful Recruiter

Sun, 12 Jun 2022 12:08:30 GMT

For starters, if you are a recruiter reading this blog, you are already halfway there! There’s lots of information out there on how to be a successful recruiter, but we find that they sometimes leave out crucial pointers.

Many online blogs will tell you that a successful recruiter has a lot of numbers under their belt. Unfortunately, numbers and hardcore facts can only get your so far in the game. In this blog, we are sharing what we believe are the three core traits that make a successful recruiter.

Three Traits of Being A Successful Recruiter

1. Have Integrity

The recruitment industry is essentially an industry with no entry barriers and no heavily strict qualifications and regulations. In short, and predictably, the recruitment industry, can sometimes be filled with less-than-desirable professionals. With this reality in mind, I’d have to say that showing integrity is the most important characteristic of becoming a great recruiter.

Let’s be honest; almost anyone can be taught to do the job at a basic level. What really matters is what lies in the recruiter’s character. Are you truly looking to help someone further their career, or are you just in it for the quick buck?

2. Persistence and Resilience

Like every other industry, recruitment has its highs and lows. Therefore, to be a successful recruiter, you must be persistent and resilient. Do not give up when things get tough! As volatile as the sectors being served, and the people in them, few businesses are as sensitive as recruitment. To be a successful recruiter, you need to keep plugging away, day after day, sometimes doing the same basic tasks with the confidence that you’re doing the right thing.

3. Be Curious

Recruiters, even the ones that come directly from the sectors they cover, aren’t actually in those sectors. A recruiter, by definition, knows talent pools better than the functions/sectors worked. To remain at the top of the game, a recruiter must stay updated about their client’s industry. Additionally, to become a successful recruiter, you will need to be curious and always want to educate yourself in order to serve your clients and candidates.

It is not difficult to become a recruiter, but it takes time and dedication to become successful. We do not doubt that as a recruiter, you can develop these 3 important traits into your everyday work and personal life. As long as you believe you have what it takes and the character to serve, success is yours!

Are you a successful recruiter looking for a new role? Or are you looking at recruitment as a career for the very first time? Check out our career page to see current openings within our team, or reach out to info@cml.ky today for a confidential conversation.

How to Nail a Phone Interview

Mon, 23 May 2022 12:22:11 GMT

Are you an IT professional with an interview on the horizon? Read on for some of our top tips to help you nail an IT phone interview.

Especially in the international and offshore markets, there is a huge reliance on phone interviews for the IT industry due to the relatively small pool of local candidates meaning looking further afield is quite common. That said, there aren’t too many people overly comfortable with being interviewed over the phone. This primarily boils down to a lack of perceived ongoing feedback.

Communication Theory

Communication is the main barrier to an over-the-phone interview compared to an in-person interview. According to Mehrabian’s Communication Theory , only 7% of communication conveyed is done so verbally, 38% of communication is down to vocals (pitch, tone, volume, and pace) and finally, 55% rely on body language (movements, stance, posture, and handshake). This means face-to-face interviews have a higher advantage because we are physically able to see and evaluate performance judging by the interviewer’s reactions.

These statistics change somewhat dramatically when compared to a phone interview. These interviews are composed of roughly 83% vocal and 17% words. Why? Because there is no visual aid or stimulants that we can sense.

Watch Your Tone

Challengingly, messages can be lost in translation, particularly with the body language component removed. To make up for this, smiling, even though the interviewer can not see you, is necessary. We can sense it, and interestingly we can also hear it subconsciously as we detect the changes in pitch and tone.
Try not to come across as too forceful and eliminate verbal pauses such as the infamous ‘erm’, ‘um’, ‘uh’. Be articulate and reframe from using slang or lazy linguisti

Keep Your Groove

Typically, phone interviews can last up to 30-45 minutes and is an initial opportunity to develop connections with future employers. Therefore, it is important to keep your grove throughout the entire interview. Here are a few tips to help you.

Act professionally, enthusiastically and knowledgeably.
Dress professionally. Interviewing in pyjamas while sitting on the couch isn’t make you feel or sound professional. Sitting at a table dressed in formal attire is far better subconsciously reflected over the phone. Plus, it may not be a phone interview and actually a video conference so don’t get caught off guard!
Hide your distractions. It doesn’t create the greatest first impressions if you are continually asking to repeat questions. Silence any background noises like the TV or Radio. Interviewers can tell!
Be personable. An interested and enthusiastic voice will go a long way toward establishing a good relationship than someone dull and monotonous. Be charismatic, fun and panache.
Request ongoing feedback. Rather than long, drawn-out answers, keep answers concise and ask questions. This pushes the interviewer to be engaged and interested in the conversation.
Ask questions . Just like a face-to-face interview, be sure to ask appropriate questions. Questions are the best tool you have to find out more information about a job, employer or company.
Be thankful. Face-to-face or not, it is important to thank the interviewer for their time. If there are additional steps in the interview process, it is wise to ask questions for clarification. It demonstrates that you’re interested in progressing and ends on a positive note.

Face-to-face and phone interviews both have their respective perks and disadvantages but do not let this stop you from nailing your interview. To be professional face-to-face means to be professional over the phone. You’ve got this. Good luck!

Are you currently job seeking and looking for some further advice and support in the process? We would be happy to help you on your career journey. Feel free to contact a member of our team at info@cml.ky for a confidential conversation today.

How to Write the Perfect Resume

Wed, 18 May 2022 12:35:28 GMT

Writing a good resume or CV doesn’t have to mean following a standard dull template; it should showcase all of your accomplishments and talents. But, we all know that creating a good resume can become challenging so we’ve outlined below our top tips to make the perfect resume.

What is a Resume?

Before we get into creating the perfect resume, let’s make sure we’re all on the same page about what one actually is! A resume or CV is a document that consists of all of your rewarding accomplishments, educational background, references etc. To sum it up, a resume is a vital document that proves you have ‘the stuff’ for this job.

Often, a resume is the only kind of communication you will have with an employer in order to gain an interview. Therefore, it should be a document you are proud of! The best advice I can give is for you to think of your resume as an advertisement. Many people will apply for a role with a generic resume just hoping someone sees something they like, not realizing that over 100 candidates have often done the same. You must ensure that your resume stands out for all the right reasons and really sells you as the perfect fit for that position, team and organisation.

1. Presentation and Detail

For starters, a resume does not have to be fancy, pretty or colourful; that said, your resume does need to be easily readable and typed in a clear, good-sized font. If you work in a more creative field then you could consider a more designed resume to showcase those creative skills, but for finance/legal/IT professionals I would suggest keeping it simple.
Once upon a time, a myth went around that a resume shouldn’t be longer than a page – I don’t agree with that. That said, I don’t think you should have a novel of a resume, so try to stick to 2-3 pages and only highlight the information that is relevant to this role (we’ll explain this more in the tailoring section below).
At the top, include your name and contact details. Personal details such as date of Birth, Marital Status are not necessary to add, but for offshore jurisdictions like where we recruit and immigration is so strict, it may be helpful to clearly identify your immigration status in the country of which you are applying for a job.
Be sure to pay most attention to the details under the following headings: Education, Professional Experience and Skills. Make sure you include the dates with your work/educational experience with locations. You must include relevant details of your roles, duties, and responsibilities in previous positions, and I would suggest ordering them with the most relevant at the top. This doesn’t have to be a long paragraph, just a well-detailed bullet-pointed list, ideally showcasing the results
of what you did.

2. Proofread Your Resume, then Proofread it Again!

It is important to proofread your resume and ideally allow someone else to proofread it or at the very least use a grammar-checking software to check it over for you. We constantly see resumes with incorrect grammar and spelling, and while not technically a glaring issue it can subconsciously make a hiring manager lose confidence in your attention to detail and when in competition against 100s of other applicants, these details matter.

3. Tailor Your Resume

This is one of the most important elements of a job search and sadly the most frequently ignored. It is highly important to tailor your resume precisely for each job position you are applying for, highlighting the company’s most important job requirements in your resume. Read the duties of the position in the job description and then ensure you have examples of your ability to do those duties showcased clearly and centre-stage in your resume.

Here are a few things to keep in mind when tailoring your resume:

Do you have a covering letter explaining the reasons for your application?
If you have an objective or goal on your resume, is it relevant to the position for which you are applying?
If the job description requires specific skills or systems experience, where are they on your resume? Highlight them (literally, take out a highlighter and go old school on it!) and see what is missing.
Are the most relevant parts of your duties for each position at the top?
If the position asks for specific qualifications, do you have experience? Have you highlighted them?

Interests and Achievements

It is very easy to go overboard when adding your interests and achievements and while it is good to include some of your outside-work activities, keep it professional. If you are involved in volunteer/community work, associations or committees, be sure to add these. These show that you will take the initiative and are responsible. Employers love it! Additionally, be sure to list any activities of the arts or sporting; these show you are creative, dedicated and committed.

During your interview, you may find that the employer enjoys common interests, this can get you to the top and be a natural point of conversation.

Before Hitting Send

Before sealing the envelope or hitting “Send” on your email, be sure to read through your resume one final time for errors. Is it addressed to the right person? Are there any spelling errors? Is contact info updated? Have you highlighted everything that will make you stand out? If yes, hit that send button!

Need more specific job-seeking advice or assistance? Reach out to the CML team at info@cml.ky today for a confidential conversation.

Q1 2022 Recruitment Market Update

Wed, 20 Apr 2022 12:50:55 GMT

Talent retention and attraction have been the key topics of conversation since the turn of the year.

With this and other factors in play, CML is pleased to share its informative quarterly market update. Our Legal, Financial Services & IT teams offer real-time priorities, challenges, and outlook on the recruitment industry.

Reading through our Q1 2022 market update , you will discover a valuable source of information. Our experienced teams relay their insights on the current market and predictions for Q2 and the coming year.

Candidate acquisition is the top priority across all offshore jurisdictions, resulting in candidate sourcing as the leading recruiting obstacle.

Q1 2022 Recruitment Market Update

Financial Services: New Entrants to the Market

Our Financial Services (FS) team report that they have not seen such a diverse recruitment market for opportunities, possibly since the back end of the Global Financial Crisis.

Exciting opportunities for new entrants to the market are also emerging in the FS space in family office, insurance, and reinsurance sectors. Market observers have speculated on this for years and are possibly now coming to fruition due to the emerging post-covid era.

Legal: Base Salaries in Legal Beginning to Move

C ML’s legal team reports that the recruitment market has been consistently busy since Q3 2020, and there is no indication of this abating. Almost every major law firm in the Cayman Islands is projecting headcount growth in 2022.

For the first time in 5-10 years, CML’s legal recruiters have started to see the dial move on base salaries. This increase is a combined result of the increased cost of living, a talent retention endeavour, and a means of competing with some of the onshore jurisdictions that offshore jurisdictions attract lawyers from, namely London.

IT: Increased Hiring Activity in the Tech Recruitment Market

This past quarter has seen a marked increase in hiring activity in the tech space , with data indicating positive expectations for the economy in 2022. However, there are areas of concern currently identified within Software Engineering and Cyber Security spaces.

Security is a massive part of every IT professional’s day-to-day role, and we are noticing a steady increase in more information security-related jobs.

We hope you find our quarterly report informative and a source of valuable information as you make hiring or career decisions. To read our 1st Quarter Market update in full, please download it here .

Should you wish to discuss the market in more detail, feel free to reach out to a member of our team at info@cml.ky for a confidential conversation today.

Are you a Cayman Islands Permanent Resident with a Dependent Child Turning 18?

Mon, 11 Apr 2022 13:03:01 GMT

Teenagers can be a handful at the best of times, and if they are about to turn 18, you need to be aware of the immigration procedures to follow in the Cayman Islands to ensure your dependent child does not lose their residency status. This blog will guide you with what you need to know when they turn 18, and important things to keep in mind with their residency status.

Permanent Resident Dependent Child Turning 18

If you have Permanent Residency (PR), and your child has been approved as a dependent on your Residency and Employment Rights Certificate, there are some essential steps to take to ensure they remain compliant once they reach the age of 18.

To continue their status as a dependent child of a Permanent Residence holder, you will need to apply to vary your certificate of permanent residence to seek approval for the child to remain as your dependent while engaged in full-time tertiary education. Once approved, the child’s dependency will continue until they complete their full-time tertiary education or attain the age of 24, whichever happens, sooner.

Important Things to Keep in Mind

Studying Abroad: If your dependent child is away at school, you must also follow these steps if the child’s permanent home is still the Cayman Islands; following these steps will prevent your child from running into immigration issues when returning to the island during breaks from schooling.

Right to Work: Remember that holding Permanent Residency does not automatically grant the right to work. Should your child wish to remain in the Cayman Islands and seek employment following the completion of their education, they will need to apply for the right to work.

Are You Still Confused?

This process can seem overwhelming, but don’t worry – that’s where we come in. Our experienced Immigration Team at CML can help you throughout the application process. Reach out at cml@cml.ky for more information.

Clients, Candidates and Courses – A Six Month Review as the FS Recruitment Apprentice

Wed, 16 Mar 2022 13:26:38 GMT

It feels like only a few weeks ago, I was sitting in my chair at home writing my last blog. But now, six months from my start date, I am sitting in our new office, ready to write about the first quarter of being the FS Recruitment Apprentice.

What Have I Learnt Over the First Six Months as the FS Recruitment Apprentice?

On September 13, 2021, I started this apprenticeship knowing the bare minimum of what was involved working in recruitment in the Financial Services industry. These past six months have seemed to go by the quickest it ever has for me, and I find myself wanting to press pause sometimes to look back and see how far I have come in such a short amount of time.

On starting this apprenticeship, I knew there was an expectation of skills and abilities I would be learning during the 24-month rotational program. I was wary that it would be a multitude of information initially, but looking back, I am shocked and surprised at how much I have already learned.

Since my last blog , while I do not have a firm grasp of all the knowledge, I am becoming more confident daily, and I can do tasks without significant assistance. Including:

Identifying what an ideal candidate looks like for a variety of different Financial Services positions
Assisting the team source candidates for a variety of roles they are actively working on for clients
How to contact candidates on a variety of platforms to achieve the highest interest/response rate

Fulfillment in my Job

Within my first six months, I am proud to say I have placed my first candidate! Being involved in the process from start to finish, conversing with the client and candidates consistently until a placement was made, gave me great satisfaction that I did not expect to feel. It was a fantastic experience delivering the news to the candidate that they had received a job offer!

I could not honestly tell you that I completely understand the day-to-day responsibilities of every role that I assist on, but this knowledge grows daily and I am grateful for such a supportive team on this learning journey. Coming from a background that is not financial services , there is still so much for me to learn, and I welcome it with open arms.

The Next Step as the FS Recruitment Apprentice

The next step of my journey is gaining more confidence in my ability to conduct calls for the best-fit candidates and put them forward for roles. I am also in the process of obtaining my Cayman Islands Society for Human Resources Professionals ( CISHRP ) HR Certification, with an international certification to follow! Between working full time and studying, I am busy! But I would not change it for anything. It feels lovely to see myself grow next to professionals in this career field every day.

I hope to report that I have completed my CISHRP certification on my next check-in. But until then, I’ll go back to hitting the books.

Till next time, your 2021 CML FS Recruitment Apprentice Jada !

Life in Cayman: Working Offshore in Corporate Finance & Restructuring

Fri, 26 Nov 2021 05:29:59 GMT

We hope you enjoy our fourth and final blog from our Life in Cayman Series. The financial services industry dominates the Cayman Islands economy, and our team at CML are acutely aware of the requirements & demands when recruiting in the jurisdiction.

One of the primary financial industries we recruit for at CML is corporate finance, restructuring and insolvency. Tiara Peverall is exceptionally knowledgeable about the qualifications, experience, and skills to land a role in this field.

We decided it would be helpful for those interested in relocating to the Cayman Islands to hear from our candidates through a Q & A session with their recruiter. Alex Tesh was an insolvency candidate that we placed in November 2020. Alex is a manager specialising in corporate finance and restructuring at FTI Consulting . Let’s see what she has to say about working offshore in the Cayman Islands.

Life in Cayman Series – Interview by Tiara Peverall with Alex Tesh

What do you love most about life in Cayman? What are the challenges?

There are lots of activities to do, people are friendly, and the weather is excellent. The challenges are the admin when you arrive, such as getting a car, setting up a bank account, etc. These essential items can be pretty slow to purchase and set up.

What does a typical weekend in Cayman look like?

A typical weekend includes time on the beach, drinking with friends, boat trips and playing sports.

What does a typical day in the office look like? Are there any fundamental differences between working in Cayman and working in the UK?

There is no commute to work, and the work is very funds-focused. We do lots of work with the teams in Hong Kong, and other offices and business development work is a lot more fun.

Can you describe your relocation experience?

Apart from the stress of sorting out flights during COVID, it was relatively easy. I met a housemate on ECay trade who now I am excellent friends with, settled in really quickly, and met many people in the first couple of months. I felt a bit frazzled in the first couple of months but, in general, settled in well.

Do you have any advice for someone about relocating?

If you are speaking to friends and family for advice, really listen to the people who have lived abroad before as they are the ones that can advise you best.

There’s significant growth in the Financial Services industry here in Cayman, so there isn’t a better time to ask questions if it’s something you might be interested in. To speak with our Financial Services Recruiter, Tiara , please send her an email at tiara.peverall@cml.ky and always feel free to check our current jobs on our website www.cml.ky/jobs

Life In Cayman: Working Offshore in Insolvency (Part 2)

Fri, 19 Nov 2021 06:05:59 GMT

The Cayman Islands economy is dominated by the financial services industry, and our team at CML are acutely aware of the requirements & demands when it comes to recruiting in the jurisdiction.

One of the primary financial industries that we recruit for at CML is insolvency . Martin Leigh is especially knowledgeable about the qualifications, experience and skills it takes to land a role as an accountant in this field.

We decided it would be helpful for those interested in relocating to the Cayman Islands to hear from our candidates through a Q & A session with their recruiter. Carlos Bourgy was a financial services candidate that we placed in 2019. Carlos is an accountant, specialising in insolvency at Alvarez and Marsal . Let’s see what he has to say about working offshore in the Cayman Islands.

Life in Cayman Series – Interview by Martin Leigh with Carlos Bourgy, Insolvency Associate, Alvarez and Marsal

Martin: Thank you for your time today! As a young professional coming from Perth in Australia, how do you find and compare the social scene and lifestyle of the Cayman Islands?

Carlos: Coming from a big city, like Perth, Cayman is certainly smaller in size however it certainly makes up for it in other ways, and so far, it has been an incredible experience. As an ex-pat, it’s a tight-knit community and everyone is very friendly. I never had any problems fitting in or going out socially as there is always something going on. If I’m honest I actually find myself busier here than I did back in Perth as everyone makes more of an effort to go out and meet people. The locals are very welcoming and there are always new ex-pats arriving from all over the world. Back home you end up hanging out with the same group of friends and it was always the same. From a social perspective, it’s a lot of fun and I really enjoy it.

Martin: Great to hear! Were there any things about the social scene or the lifestyle that you didn’t expect?

Carlos: There has been a change in circumstances obviously given the outbreak of Covid19. When I first arrived on Grand Cayman everything was normal, and tourism was at an all-time high. I was surprised by the number of things going on, bars full of almost every nationality (Caymanian, Jamaican, British, Australian), parades and club nights. There was also random social or sporting events popping up. The range of activities to do here is what I’m most surprised about. Covid did have an impact on all of this, but now that it has been such a long time without any community transmission things are 90% back to how it was before. This is great, especially when you have the beaches to yourself, and you are never too far from a party.

Martin: Outside of work what kind of hobbies and interests do you have?

Carlos: My main hobby is the gym, as I can get a little too carried away with socialising. Frequenting the gym is a good balance to even things out and keep healthy. The gym is my number one hobby followed by music. I have a recording studio in my room and like to do this in my spare time. I’ve also joined a social Gaelic Football team and I am learning the sport with a bunch of Irish and other nationalities who know how to enjoy themselves! These are my main three hobbies on the island.

Martin: How do you find the professional culture and working environment in Cayman particularly in insolvency?

Carlos: Again, I find it a very close community here and everyone really does know everyone! It’s a bit different than going to a city where you might not have heard of a particular firm or partner. Here everything is more commonly known, there is a lot of camaraderie and networking between the firms and the lawyers. Professionally in Cayman, you start to make connections quite quickly, much quicker than you would in a city. You build professional relationships from day one which carry over for years on the island to hopefully generate work and connections for the future. The networking days here are unreal!

Martin: What did the recruitment process consist of and how did you rate CML in helping to secure the role?

Carlos: It was a very smooth transition, it started off with a message from Martin and then a call to answer all the questions I had. At the time I was open to multiple different islands but through his guidance, it became clear that Grand Cayman was the best one for me. He provided a selection of opportunities, helped me through the interview process making sure I matched the best cultural fit in terms of the firm.

I think having someone on the ground here makes a huge difference as they can not only give you the realities of the opportunity but also tailored guidance on the individuals, the firm, and their interview process. You wouldn’t receive this type of knowledge and service from a recruiter based in a different country.

Martin: Travelling around the world from Australia to reach the Cayman Islands, must have been challenging. How did you find the relocation process itself?

Carlos: Personally, as I was at boarding school for high school I am used to being away from my family, but moving here from across the world was a bit of a change! In the end, the whole process was seamless, especially with your help.

Martin: Too kind! What would you say are the best things about living in Cayman?

Carlos: The beautiful beaches and the weather! All year there is fantastic sunshine and the beaches are like something you would see in the movies. The islands are great for downtime. The people, everyone is very friendly and is happy to hang out. The main thing is the ease of lifestyle, no hectic traffic and it feels like you are living in the late 90s or early 2000s.

Martin: How do you find the cost of living here?

Carlos: When I first arrived here it was tricky as the currency exchange between the Australian dollar and the Cayman dollar was poor so the money I initially brought didn’t go far. The first couple of months are always a bit tough and I think that is a general trend for anyone moving to the island until your Cayman salary kicks in. However, the firms are there to support you and after you receive your first couple of pay packets in the local currency everything fits into place. You can still live here, enjoy yourself, do what you want, save money and go on holiday. I do suggest having some money put aside for a deposit on your apartment and purchasing a car. It’s hard to beat a tax-free salary and one of the best places in the world to work in insolvency.

Martin: What would you say to any other professionals considering relocating offshore?

Carlos: It’s an awesome experience I would highly recommend it, even if it’s just for a couple of years. It opens your eyes to what’s out there in the world. To live in such a beautiful jurisdiction where you can earn more money, tax-free, whilst you enjoy yourself, why wouldn’t you go for it?

Whether you’re on-island already or are considering Cayman as your next career move, don’t hesitate to have a confidential conversation with the professionals here at CML Recruitment. We’re always happy to provide clarity and understand the industry and how the recruitment process works!

There’s significant growth in the Accounting and Financial Services industry here in Cayman, so there isn’t a better time to ask questions if it’s something you might be interested in. To speak with our Financial Services Recruiter, Martin , please send him an email at martin.leigh@cml.ky and always feel free to check our current jobs on our website www.cml.ky/jobs

Life in Cayman: Working Offshore in Insolvency (Part 1)

Fri, 12 Nov 2021 06:39:22 GMT

What is life in Cayman like when working in insolvency? The Cayman Islands economy is dominated by the financial services industry, and our team at CML are acutely aware of the requirements & demands when it comes to recruiting in the jurisdiction and are here to give you the inside scoop.

One of the primary financial industries that we recruit for at CML is insolvency. Tiara Peverall is especially knowledgeable about the qualifications, experience and skills it takes to land a role in this field.

We decided it would be helpful for those interested in relocating to the Cayman Islands to hear from our candidates through a Q & A session with their recruiter. Amiel Gottlieb was an insolvency candidate that we placed in September 2018. Amiel is a manager, specialising in insolvency at Kalo Advisors . Let’s see what he has to say about working offshore in the Cayman Islands.

Life in Cayman Series – Interview by Tiara Peverall with Amiel Gottlieb

*This is part 1 of the insolvency series, to read another inside account check out part 2 here .

Tiara: What does a typical weekend in Cayman look like?

Amiel: A typical weekend would generally consist of meeting up with friends for a meal or some drinks on Friday night / Saturday. As the Island is traditionally religious, many of the stores will close on a Sunday, leaving room for a brunch, a dive or just relaxing on the beach with a book.

Tiara: What do you love most about life in Cayman? What are the challenges?

Amiel: The Island is unique in that it has big-city amenities but a unique small-town feel. There is always something to do here, and when Covid-free, it is a hub to travel this side of the world that I wouldn’t have had access to as an Australian.

With the small-town feel following moving to Cayman, I felt pretty challenged by the loss of anonymity. But with time, you become accustomed to it.

Another challenge that I struggled with was the cost of living. When first moving to the Island, it is a shock, but when you consider that there is no tax on wages, you end up coming out on top.

Tiara: What does a typical day in the office look like?

Amiel: I am fortunate to work for a firm that working from home has become part of the “new normal”. The firm entrusts us with planning our day with flexibility that may still allow us to catch an early sunrise, an after-work beach walk or maybe even squeeze in an early morning trip to the driving range.

If I were in the office, the day would typically start at 8.30 (after a 5-minute commute to work) and usually see me leave at around 6.30.

Tiara: Are there any fundamental differences between working in Cayman and working in Australia?

Amiel: There was certainly a learning curve when first starting to work in Cayman, but as both jurisdictions are based on UK law, many skills and knowledge are transferrable.

As Cayman is a small community, the insolvency world is an even smaller sub-set. There are a lot more social, marketing and networking/social events than back in Australia.

Tiara: From a career perspective, what are your thoughts on working offshore?

Amiel: I feel that working offshore can fast track your career as I have had exposure to some of the world’s most high-profile insolvencies, often working with several different jurisdictions and working with highly ambitious and intelligent people.

Tiara: How was your experience with CML?

Amiel: My relocation experience was great, and I feel like instead of telling me what I wanted to hear, CML were realistic and managed my expectations well. Their honesty and clarity ensured that there were no surprises when I arrived, which is great when moving halfway across the world!

My girlfriend moved out with me, and CML was fantastic in helping her find a job through their sister agency, Nova Recruitment , and feel settled once she arrived.

Tiara: Can you describe your relocation experience?

Amiel: For the first six months, everything was excellent, new, and felt like a holiday. However, after six months, it flicked from the relocation being a “holiday” to “real life”. I was faced with another set of challenges that took me a while to embrace. Once I accepted the change and adjusted my attitude, I fell in love with the Island all over again.

Tiara: Do you have any advice for someone relocating?

Amiel: Just say “yes” to everything when first arriving. You will get opportunities to do things you never thought you would attempt or with unexpected people; just dive headfirst into the island lifestyle.

Life in Cayman: Working Offshore in Financial Services

Fri, 05 Nov 2021 06:58:46 GMT

What is life in Cayman like working in Financial Services as an accountant? Hear from one of our recently placed candidates about all there is to know and consider.

The Cayman Islands economy is dominated by the financial services industry, and our team at CML are acutely aware of the requirements & demands when it comes to recruiting in the jurisdiction.

One of the primary financial industries that we recruit for at CML is for companies that provide corporate, private capital, hedge funds and private wealth solutions. Will Koutney, a partner at CML, is especially knowledgeable about the qualifications, experience and skills it takes to land a role in this area of the financial sector.

This is the first in our Life in Cayman series for those interested in relocating to the Cayman Islands. Our recruiters asked our candidates through a Q & A about their experiences in Grand Cayman so far. Brandon Smith was a financial services candidate that we placed in May 2021. Brandon is a financial controller, with Intertrust . Let’s see what he has to say about working offshore in the Cayman Islands.

Life in Cayman Series – Interview by Will Koutney with Brandon Smith, Financial Controller, Intertrust

Will: Why did you choose to relocate to Cayman? Were you considering anywhere else?

Brandon: My girlfriend at the time (since married) and I were open to Bermuda, BVI and Cayman. The Cayman Islands was our first choice, as we were looking for ‘fun in the sun’ and ideally wanted to avoid Bermuda winters, but these were small considerations to the opportunities on offer. I did end up receiving offers for an analyst role with a global bank in Bermuda, an audit role in the BVI and an internal finance role with a retail insurer in Cayman. We chose the latter as my wife was easily able to continue with her audit career in Cayman too.

Will: What did you immediately notice when you first moved here?

Brandon: How small it is. We hired a car and were very surprised by how close everything was. When we went to the beach, we were struck by how pristine it is. After a week or so we were really surprised at how friendly everyone was. Over the first month, it became eye-opening how expensive things were compared to South Africa. It took around $10k-12k to get set up with various accommodation deposits and needs, vehicles, and general unexpected expenses.

Will: What are the downsides of Cayman versus back home?

Brandon: No family. Everyone will lose a few creature comforts from back home i.e., there are limited golf courses here if you love golf and different sports might be on offer to what you are used to (in terms of playing and being available on TV).

Will: How does your day-to-day schedule vary versus friends back home or abroad in New York, London, etc ?

Brandon: Basically, I get two more hours a day to myself that I wouldn’t have in the ‘real world’. I also no longer really have excuses to say no to invitations as everything is so close, quick, and convenient. Given the weather, there is very rarely a day when you can’t go outside and do something.

Will: Why have you decided to remain in Cayman long-term?

Brandon: If it ain’t broke don’t fix it! In all honesty, South Africa presents some employment challenges that I don’t experience in Cayman. Add to that, the lifestyle and take-home pay is far more superior, it’s a no brainer for my family. Also, simple things like being close to the equator mean I rarely either go into work or leave work when it’s dark outside. Less general admin and life planning are required week-to-week in Cayman.

Will: What activities do you take part in? How are they different from home?

Brandon: I still golf and fish like I would back home, but in Cayman, I also take part in lots of other activities. Tennis and touch rugby are more social and easier to do for fun, for team building or just a bit of exercise. Back at home, I would sail in regattas. This does exist in Cayman but on a smaller scale. Supporting your home team, large sporting events, festival or concert gatherings are harder to come by, but all part of the trade-off we’ve discussed.

Will: How is your friend/social mix comprised?

Brandon: I’m mates with lots of financial services professionals from all over the globe, especially Australia, New Zealand, UK, Ireland, US and Canada. Depending on your interests you will develop friendships through sport, community/school activities with the kids and work.

There’s significant growth in the Private Wealth Financial Services industry here in Cayman, so there isn’t a better time to ask questions if it’s something you might be interested in. To speak with our Financial Services Recruiter, Will , please send him an email at william.koutney@cml.ky and always feel free to check our current jobs on our website www.cml.ky/jobs

The First CML FS Recruitment Apprentice – Introducing Jada Connor

Fri, 29 Oct 2021 07:20:50 GMT

When talks about my first blog came up, I instantly became excited! It is wonderful to have the opportunity to share my story and experiences as CML Recruitment’s FIRST FS Recruitment Apprentice. I’m glad to have others join me on my journey, and I guess you could say welcome to my start of something new (cue high school musical? No? Okay).

Before CML

In August of 2018, after finishing up a gap year on island, I started my Associates at The University College of the Cayman Islands (UCCI) in Social Sciences. In the middle of my 3rd semester, I was introduced to the Director of the Student Life Department. I secured an internship within the department and was introduced to areas of study I had never considered.

Being the type of student who knew what I wanted to become from high school, I was convinced that I would become a School Counselor, but like how I was convinced I would be a professional dancer at the age of 8, this dream did not last.

During my time at UCCI, I considered moving on to my bachelor’s in social sciences, and there were options to obtain concentrations in Psychology and Human Resources. In the department I worked, they also help students receive jobs, internships, and experience at local companies and businesses. They were assisting firms to recruit new staff for available roles. These two things combined sparked my interest in Human Resources.

FS Recruitment Apprentice: A Beacon of Light in the Dark

In 2020 Nova was recruiting for their second HR Apprentice . I had been on the lookout for it since learning about the opportunity through Hannah Jackson, their first HR Apprentice, at a job fair at UCCI earlier. Unfortunately, due to the pandemic and family obligations, I completely missed the opportunity. I told myself that wouldn’t happen again. I remember putting notifications on for CML and Nova on their Instagram profiles and telling myself that next time was my time. And it was!

Once I saw CML post their apprenticeship, I immediately jumped on it. It was an opportunity I couldn’t afford to miss again. What could be better than working while getting paid and learning from a fantastic team of professionals? I had graduated, been out of work for eight months, unable to find a suitable role; it seemed that this was my beacon of light in the dark.

Shortly afterwards, CML contacted me, and the interview process began. The interviews were like none I had ever had before. Questions asked made me feel at ease and made me think more than I ever had before. Internships that I have previously completed seemed to hinder my applications since they were not considered long enough to gain adequate experience. However, the team interviewing at CML saw these as valuable experiences and beneficial to my resume. Nonetheless, I walked out feeling uncertain and a little afraid I wouldn’t secure the position. Then I received the call, and it was all up from there.

The Learning Process Begins

At the start of this program, I had almost no idea what to expect. I knew I would be working with a team of professionals, and I knew the basics of what I would be learning, but there was no right way to prepare. Nonetheless, I was determined to accept it all with open arms and work (while learning) to the best of my capability. So far, I have learned a variety of different skills! Some of those skills include:

What to look for when matching a candidate to a job
How to conduct an interview
What the recruitment process looks like from start to finish
Immigration considerations to the Cayman Islands
Communications with candidates from the Cayman Islands and the rest of the World

At this point, I have enjoyed every step of the journey. Of course, I’m still at the beginning of my two-year apprenticeship. I know that working with a team of people who couldn’t be friendlier and welcoming that my journey will be incredible. Fingers crossed!

I look forward to learning more and starting the process of obtaining my HR certification. It’ll be a busy next few months, but I’m ready for it all.

Till next time, your 2021 CML FS Recruitment Apprentice Jada !

The Four-Day Work Week: Myth or Reality?

Thu, 07 Oct 2021 13:53:24 GMT

Countries, industries, and companies across the globe are trialling and adopting a 4-day workweek. Positive reports are coming out of New Zealand, Iceland , Japan, and Scotland . But what does it mean for the company’s productivity, managers, and employees? And ultimately, should your organization consider adopting a four-day work week?

At Perpetual Guardian in New Zealand, initial reactions to the trial were ‘How am I ever going to do my work in four days rather than five.’

Their trial indicated that not only could employees do their work in four days, but they could do it better!

How Did They Make a Four-Day Work Week Work?

With a powerful reward of an extra day off, managers trusted their employees to buy into the trial genuinely. They learnt that while they all have sufficient energy to work a five-day week, it may not be optimal to get work done. Employees talked about the benefit of having an extra day off. It allowed them to recover and rejuvenate and engage in new activities, leaving employees to return to work with higher energy levels.

And if they could, would it reflect poorly on them from before the trial?

On quoting Parkinson’s Law concerning the above statement. Cyril Northcote Parkinson, a British historian, wrote a lighthearted essay based on his experience in the British civil service. Parkinson’s first sentence became his eponymous Law:

“Work expands so as to fill the time available for its completion.”

If something must be done in a year, it’ll be done in a year.
If something must be done next week, it’ll be done next week.
If something must be done tomorrow, it’ll be done tomorrow.

As a deadline approaches, we plan on how much time we have, making choices and trade-offs to ensure the task is complete by the deadline. All projects take time. You certainly can’t build a skyscraper in a day. The more complex the project, the more time it typically takes.

Founder of IKEA, Ingvar Kamprad , once said,

‘If you split your day into ten-minute increments, and you try to waste as few of those ten-minute increments as possible, you’ll be amazed at what you can get done.”

Before and after the Perpetual Guardian trial, managers assessed their teams’ performances. The reduction to four days allowed the teams to become more creative on completing their work in the shorter allocated 4 x 8 hour working days. They found solutions to doing the work in 4 days; they engaged in more positive behaviours towards each other. They became more engaged and focused on customer service. All these behaviours boosted the organization’s performance.

What a Difference a Day Can Make!

Personal Health
Family Time
Leisure Time
Personal Hobbies
Personal Admin
Community Time

Japan, synonymous with long working hours, high-stress levels, and employees suffering from burnout, should note Microsoft Japan, who tested the four-day workweek over one month. Over August 2019, they experimented with a new project called ‘ Work-Life Choice Challenge’, allowing its entire 2300 person workforce five Fridays off in a row without affecting pay.

The outcome: Employees were not only happier but significantly more productive.

Are There Disadvantages to a Four-Day Work Week?

In reality, there are disadvantages to a four-day workweek. During Perpetual Guardian’s trial, they identified several weaknesses.

An increased risk of injury or error may occur in some positions, proving that longer hours may not suit specific situations.
It could cause understaffing at peak times, difficulties scheduling meetings, and a more extended schedule could drive lower productivity at the end of the day.
If the employee is customer-facing, there could be potential issues with slower response times for the employer.

Perpetual Guardian simply cut one full day of work, leaving four 8-hour days for the working week without reducing pay or benefits. Other companies kept the same 40-hour week, compressing it into four 10-hour days. One of these options could be a disadvantage depending on the unique circumstances of your organization, so it’s important to put thought into what will work best for the needs of your staff and organization.

Do the Overall Benefits Outweigh the Disadvantages?

A survey conducted throughout the trial asked employees how they felt about their new working hours, and in most cases, the overall benefits trumped the disadvantages.

It was reported that there were lower job stresses and burnout, with work-life balance levels achieving record highs. Employees reported being more committed to the company, therefore, less likely to look elsewhere for a different job.

Read more on the Perpetual Guardian trial here .

What Should Organizations Consider Before Implementing Such a Policy?

The 4-day workweek is still a ‘myth’ in the Cayman Islands and the other jurisdictions that our recruitment advisors represent. Companies would have to cut through a lot of red tape before implementing this kind of working environment. From an HR consulting perspective, companies would require advice (and even changes in legislation) on how to handle their pay & overtime structure, labour law, contracts and, in some cases, work permit regulations.

Other work-life balance considerations would be:

Some employees may prefer to receive more free time, no matter the pay or they may be prepared to work longer hours for the four days to keep all their benefits.
Employees with young families or who care for family members may prefer to work five days a week but with shorter hours to facilitate their family commitments.

With the above two considerations in mind, organizations may need to consider a hybrid solution based on their employee’s needs and requests.

Will it work for your organization?

The onset of the COVID-19 pandemic has created new, flexible schedules that are almost certainly here to stay in some form or another, whether a 4-day week or other flexible options. Changes like these require a visionary owner/manager, an understanding of the needs of their workforce and a strong HR team to make a decision that meets the best interest of the organization and its people.

If you are considering options for your organization and need help assessing what may best fit your organisation’s needs and your people, our HR Consulting team is here to help. From engagement surveys to policy writing and implementation, we can support you to help your business, and your people grow.

For more information on our Human Resource Consulting services, email Jakub at Jakub.Jahnl@cml.ky today.

Is Having a LinkedIn Profile Enough?

Tue, 14 Sep 2021 14:10:31 GMT

As recruiters, we’ve spoken with many candidates who have created LinkedIn profiles but are not active. Are you amongst the group of job seekers who are inactive? This is your reminder to start engaging.

Over the years, LinkedIn has become a top-rated platform; just like every other social media platform, you can engage and gain followers (or, in LinkedIn’s case, connections). In other words, there are slight differences between Instagram, Facebook and LinkedIn, but what makes LinkedIn stand out? You can utilize the platform as a way for personal branding and promote yourself to catch the eyes of potential employers.

How to be More Engaging on LinkedIn

Many people find that LinkedIn is ineffective, and while CML has our views on LinkedIn vs Recruitment agencies, the platform poses a big help in building connections. However, is having a profile enough to get your name out there? The answer is no, not at least if you want to reap the benefits of it. It is also not enough to create a mediocre profile and add a few points – you need to make your profile engaging!

It is one thing to have a profile and another to be actively engaging. So, what should you do to boost your profile and engagement?

1. Have a clean, professional profile picture.

2. Frequently update your profile – Add your skills, experience, and interest, so people get to know you.

1. You can now attribute specific skills you add to your profile to the different jobs you have listed on your profile, which can give potential employers a better idea of your experience in a specific role.

3. Inform your connections about your accomplishments – New jobs, talents or organizations you are enrolled in.

4. Follow jobs/industries/companies that are interesting to you and keep up to date with them.

1. When a recruiter goes onto LinkedIn, they have a different view than you to help them search for potential candidates, and there is a quick way to search for those already engaging with their company. So, if you’re interested in a potential job with company X, follow them to show that interest to the recruiters!

5. Connect with the right people – Current/past colleagues, friends and people you meet out at networking events!

6. Cheer others on!

1. LinkedIn is all about making connections. Connect with others and spread motivation when you see something they have posted!

Some have described LinkedIn as an “online resume”, but it can be so much more! Unlike a paper resume, you can make changes easily at any time, even on the road. It also gives you access to conversations and information that can be genuinely invaluable.

To fully take advantage of LinkedIn, it’s necessary to give some time and thought to what you want to achieve. It’s time to get ahead of the game and spruce up your profile.

Are you looking for a new position and aren’t quite finding what you’re looking for? Reach out to our team at info@cml.ky today and see how our team can help you find and land your dream job today.

How Do I Become Naturalised as A British Overseas Territory Citizen of the Cayman Islands?

Mon, 13 Sep 2021 05:12:01 GMT

You are now a Permanent Resident of the Cayman Islands, congratulations! You are on your way to Cayman Status, but before this, there is one more step to take – to be naturalised as a British Overseas Territory Citizen (BOTC) of the Cayman Islands.

Once you have held Permanent Residency for 12 months (and have lived in the Cayman Islands for at least five years), you can apply to be naturalised under the British Nationality Act for Naturalisation as a BOTC under a connection with the Cayman Islands.

Applying for naturalisation falls under the Office of the Deputy Governor of the Cayman Islands. Once naturalised, you become a BOTC.

But What Does it Mean to be Naturalised?

Naturalisation entitles you to apply for a Cayman Islands passport but doesn’t grant you Caymanian status or citizenship. Ultimately it is the path you must take for the next step from Permanent Residency on the route to applying for the right to be Caymanian based on residency.

The Cayman Islands may be one of the only countries in the world where you can apply for that country’s passport without first becoming a fully-fledged citizen. With naturalisation, you are becoming a BOTC, with a travel document issued by the Cayman Islands.

How Do you Apply?

Our team at CML will start the process and work with you to collect all the relevant documents. There are a couple of numbers and dates you will be required to have on hand, as well as the following documents:

Applicant File Number – first issued by the department of immigration
Date of first arrival in the Cayman Islands to reside
Letter of Permanent Residence
Residency and Employment Rights Certificate
Employment Letter
Original Birth Certificate
Data/Photo Page of Passport
Divorce Decree (if required)
Marriage Certificate (if required)
Recent Full-Face Colour Photo

All your documents must be certified copies by Justice of the Peace or a Notary Public; wisely, CML has one on their immigration team. The documents listed above are for applicants that are already Permanent Resident holders.

The application also requires two referees, and CML will provide you with a convenient form to collect the relevant information.

Contact our experienced Immigration Team at CML by calling 623-1025 or emailing cml@cml.ky for more information. We will provide a comprehensive checklist and make the process as seamless as possible. The application itself takes approximately 3 to 4 months to be processed and approved, and our team will then confirm your Pledge Ceremony date

Who is Responsible for Your Career Progression: You or Your Employer?

Tue, 07 Sep 2021 05:42:27 GMT

Career progression is something that can often be overlooked, misunderstood and just plain forgotten. Some business owners may feel that staff career progression and personal development is ‘not their responsibility’  and should fall to the individual looking to develop further. Are they wrong? Who is responsible, and what should they be doing?

What is Career Progression?

Before we dive right into who the responsibility goes to, let’s make sure we’re all on the same page of what exactly career progression means. Career progression is the process of climbing the corporate ladder during your working life. Many aspects contribute to successful career progression, moving forward, receiving a promotion, and finding new challenges.

Is Career Progression just Finding a Better Job?

Let’s be clear; career progression is not simply finding a new, better job but also defining your progression when staying with your current employer, position or role while receiving greater responsibility, satisfaction, and success. It can also be about receiving a pay rise, being given additional responsibilities, moving sideways in a company, or being promoted.

Who is Responsible for Your Career Progression?

Returning to the initial question of ‘who’s responsibility is your Career Progression?’, it is often unclear who is responsible, the manager or the employee. One of the most common reasons employees leave companies is a lack of career development but is that the company’s fault alone, or does some of this fall on the employee themselves?

Ultimately, Career Progression is a Discussion Between Both Parties

It’s no secret that companies that invest in career progression gain the best out of their employees. Managers who engage in high-value career conversations are rewarded with long-term employees who are engaged, productive, and ready to move up the corporate ladder.

 While managers, in some cases, need to step up and be equally responsible, it is also up to you to express your career development goals to your manager. If your company has an open-door policy, then it is there for a reason. Use it, engage with management and start the conversation.

 Managers also need to be aware of how to handle the conversation. If the company offers career progression, senior management must be aware of any training and progression opportunities for their line staff and mentor the individual with their career progression questions.

1. Understanding Company Differences

It’s also essential to think about the differences between companies and what they can offer, as this will vary due to many reasons, but with a key one being the company size and what they can provide as a result.

2. Larger firms

Larger firms with an HR team may plan training and development for different employee levels with opportunities available on a rotational basis, or for more senior staff, initiatives in career coaching, mentor programs or leadership training.

3. Smaller firms

In smaller firms where there is less line of sight to progression paths, often the emphasis is placed back on the employee to ask for training and support towards their development, but that doesn’t always have to be the case. With smaller firms, companies can do things to offer progression, such as simply being open to new ideas: maybe your staff have a brilliant idea for a new business offering that they could take the wheel on.

What Can Managers do to Support Employees in their Career Progression goals? 

Take a Personal Interest

Communicate frequently with your team with regular meetings, but also reach out on a one-to-one basis so you can keep informed of their career goals and expectations. With this level of support, employees will feel valued, leading to higher productivity and loyalty to you and the Company long-term.

Promote Training and Development Within the Company

It’s all about opportunities, and one of the main reasons an employee may have joined the company is due to the culture promoted at their interview regarding training and development. Continuing education fuels the employee’s career growth. Stay attuned to the broader company’s opportunities and encourage your team to be invested in courses, guest speakers, and networking events within the industry. An example of a cost-effective career or personal development program within the workplace is arranging lunch-and-learn sessions with internal or external guest speakers.

Encourage Mentoring, Job Shadowing & Rotation

Many companies adopt mentoring for new employees during the onboarding process, but companies would be wise to expand on this for their employee’s personal and professional development. Long-term staff offer professional guidance, while they can also benefit from the newer employee who may have fresh perspectives and insights into new technologies, a win-win situation. Or shake it up a little by offering job rotation, allowing employees to work in different but related departments. Team members will gain new skills and show more appreciation for their colleague’s positions and even a better understanding of the business.

Establish a Career Succession Plan

Creating a career succession plan for every key position promotes a powerful message. It can help motivate employees to learn new skills and knowledge required for their career progression towards the top of the ladder.

 Keep in mind that employee career development can deliver ROI for your business, avoiding the possibility of losing disillusioned employees to competitors in the industry. Companies that offer career advancement to their employees cultivate a culture within their workforce, producing well-prepared, responsible and productive employees as they move up the corporate ladder.

What Can You do to Accelerate Your Career Progression?

Network

A large part of career progression is finding the opportunities you can, being visible and connecting through professional networks. Networking receptions, seminars, conferences, trades shows and networking internally in a larger office are ideal ways to be seen and considered.

Mentoring and Coaching

Seek out a mentor you look up to in your career; they can help you navigate the professional world based on their lived experiences in a similar field. With a mentor, expect advice and guidance on aspects of your career, like interview training, industry insights and managerial challenges. On the other hand, coaching can be more formal with a structure where your coach will set the standards, timings, and expectations. Both can be a considerable advantage to career progression and creating an action plan forward.

Training and Development

Training and development can cover a whole host of activities towards career progression. Training courses and upskilling in new areas of expertise are valuable ways to improve your development in different areas within your role, industry, or business. Most commonly, training is offered as a course. Still, as mentioned earlier, this could be hands-on training by shadowing a colleague that has experience and knowledge in an area of the business you are interested in progressing to. Study the profiles of successful people in your industry. How did they reach their career goals, which path did they follow, what professional associations are they members of?

 Simply Ask

In some instances, it is as simple as asking what progression opportunities exist. By asking about your career progression, you show your employer that you are keen to improve, develop and climb the ladder. A company with career progression in its culture will only further encourage your development and progression. Set aside time to plan your career aspirations and how to reach goals and milestones. Ask your manager for one-to-one support to help with your progress.

Reach for the Top of the Ladder

Employees can be more engaged when they know their employer is concerned about their growth and career progression. Career development paths may also directly impact employee satisfaction, morale, motivation, and productivity.

Company culture is an important aspect to look at before moving to a new company; if career progression is essential, you must investigate the culture before committing. Your employer should be offering advice, support, and encouragement to set you on your way to the top of that ladder.

We hope that this post has been a helpful insight into planning for career progression. If you are looking for more tailored advice about progression or new career opportunities, feel free to reach out to the CML team at  info@cml.ky , and we will gladly assist!

Personal Branding: Utilising LinkedIn

Thu, 02 Sep 2021 05:55:10 GMT

As recruitment professionals, we cannot express how important personal branding is to your career advancement prospects and how social media can help you with your personal branding.

Are you active on LinkedIn ? When asked this question, many people will say, “I’m not looking for a new job” or “I’m happy in my current role.” If you are one of these people, you may not see the value of creating a LinkedIn profile and could be limiting yourself.

Think of this scenario: While working, a business owner addresses you and says, “Hello! I’ve heard a lot about you, and I’d like to discuss a high-paying job opportunity that will allow you to build your skills/expand your business.”

If you were in this position, wouldn’t you be intrigued? Most people would be!

Why Is Personal Branding So Important

We cannot express the importance of using social media, specifically LinkedIn, for personal branding and showcasing your skills. As we all know, LinkedIn has become a popular platform used by both job seekers and employers. With this being said, over the years, LinkedIn has developed more and more tools and elements to help people build their personal brands.

Many people believe that “Not Looking” means “Not Interested”, but this is not the case. We have found that many professionals are dishonest about being ‘happy’ within their current roles. In truth, these individuals are secretly trying to avoid the hassle of job hunting or are scared of putting their current jobs at risk by stating they are “Open to Work.”

We can pretty much guarantee employers are always seeking to recruit new employees. Therefore, LinkedIn makes the process easy. If an employer is impressed with your LinkedIn profile and is intrigued, they will make an effort to contact you. This saves you the hassle of job searching and placing your job at risk, and so is the perfect tool for the passively looking candidate.

Utilize LinkedIn to Reap the Benefits

Did you know that LinkedIn is marked #1 for employers who seek new employees? You are likely at the top of an employer’s scoreboard in a recruitment process if you are actively personal branding and campaigning on LinkedIn.

If you have the skills and experience they’re looking for and are actively upholding an impressive LinkedIn profile, you might just land yourself a great job that you didn’t even know you wanted. All that is to say that having a LinkedIn profile isn’t enough ; you need to be utilizing the platform in an engaging way for it to really be adding value and showcasing your personal brand.

Looking for a new career and need help navigating the hassle of the job hunting process? Work with our team so we can help the process simple and straightforward. Reach out to info@cml.ky today for a confidential conversation.

Deciding a Career Path: Questions You Should Ask Yourself

Thu, 05 Aug 2021 06:08:58 GMT

Deciding/changing your career path or planning your next career step can be tricky. Let us help!

Many young people and adults have gone through this life-changing decision-making stage. It is understandable to need a little push in the right direction. That is why CML is here to help you!

We have all faced this challenge in life, whether when we’re leaving high school, University or even years after. Deciding or changing your career path may set the stage for your future life but doesn’t have to be complicated. Here are a few questions to help you plan your next step.

Before: Questions to Ask Yourself Before Planning Your Career Path

Am I a workaholic?
Do I aspire to work in person or remote?
What’s my ideal work-life balance?
Am I willing to relocate for a better career opportunity?
Do I see myself working in a small or large organization?
What am I willing to give up for better career opportunities?
What type of environment best suits my personality?
What do I love to do vs what I like to do?
What are my interests?
What are my skills?
Do I enjoy working in a team or by myself?
How important is money to me?

During: Questions to Ask Yourself When Planning Your Career Path

What industry do I aspire to work in?
What job am I specifically searching for?
Are there jobs available in this career?
How competitive is this career path?
Am I willing to climb the corporate ladder, or do I want to stay in my comfort zone?
What experience does this job require?
What education or training do I need to fulfil my career goals?
What qualifications do I need?
What is the salary range I am looking to be paid?
What is my next step after this plan?

There are definitely more things we can add to our list, but we’ll stop here for now. While this may not be a playbook for planning your career, this is a great first step. Additionally, you are the only person who knows what your future has in store, so it’s up to you to start planning it. YOU CAN DO THIS!

Are you looking for a new position? Reach out to our talented team of recruiters to help you with your job search. Contact info@cml.ky to learn more.

For more tailored career guidance, our career partners Connect by Nova offer one-on-one consultations.

Choosing the Right Career: A Recruiter’s Experience

Sun, 01 Aug 2021 06:03:20 GMT

Choosing the right career can be very satisfying if you’ve made the right choice.

Many candidates have worked with our dedicated recruiters in order to pinpoint their career paths and jobs. To choose the right career fo r you , you will have to determine your start and end goal. Why? You won’t be satisfied climbing the ladder if it is leaning against the wrong wall.

A Recruiter’s Experience

From my experience, starting a career in HR and Recruitment was the right choice for me. However, choosing a career took some time. You see, at first, I wanted to be a forensic pathologist. But as you can probably tell, I’ve chosen a different route because it’s one thing to choose a career and quite another to pursue it.

These days, we are faced with many career choices; Pilot, Chef, Florist, Salesman, Banker, Lawyer, Boat Captain, Artist; The list is endless! Don’t be intimated to choose only one career path. The reality is that many of us have many different callings, and you can experiment with more than one.

Choosing A Career

1. Self Assessment

First things first, you may want to consider your interests, skills, personality and work-related values. It may be best to sit with a professional recruiter or career guidance counsellor to map out your interests as well as short-term and long-term goals. This first step is a self-assessment, and with your recruiters, you will be able to learn how these topics play a role in choosing a career.

While considering different options, it is also important to research each career that you may be interested in. This allows you to understand the roles and activities involved if you go down that path. Later, you can make an informed decision as to which career you choose and why it would be your best option.

2. Education

Education also plays a vital role in getting the right job in your chosen field. Pre-requisites for different jobs are often the qualifications you must hold before being able to practice in that field. Therefore, you should also research specialized courses at different institutes, find out how long they’ll take you, and if further studying will be required after you complete your initial degree. In accounting, for example, depending on your work area, you may be required to attain a professional designation.

3. Narrowing It Down

Lastly, after completing your self-assessment and research, the next step in choosing the right career is to narrow down your options. We know narrowing your choices down can be pretty tricky. It may help to seek insight from people in the professions you are considering or speak with your recruiter to gain a realistic idea of the role.

You may decide on a career that makes you happy for 10 – 15 years and then decide to try something new. That is perfectly okay! It’s all about you making decisions that will make you happy.

Are you looking for a new position or considering changing careers? Get in contact with us at info@cml.ky to speak with one of our recruiters about possible career choices in the Cayman Islands, BVI, and Bermuda! For more tailored career guidance services, our career partners Connect by Nova offer one-on-one consultations.

Day in the Life of a .NET Software Engineer in Cayman

Tue, 29 Jun 2021 06:22:14 GMT

One of the primary IT industries that we recruit within here at CML is .NET Software Development . Our IT recruiter, Claire Murray , is exceptionally knowledgeable about what qualifications, experience, and skills it takes to land a role as she frequently places candidates in this space.

We thought it might be helpful to share some insight into what being in this industry in Cayman looks like first-hand, so we decided to chat with someone who can explain the ins and outs of the role itself!

Trevoir Williams is an IT candidate of ours that we placed in March 2020. Trevoir is a .NET Software Engineer at CIMA in the Cayman Islands. Below, we asked Trevoir a few questions to pick his brain about his new role and how he’s adjusting to it.

What was your location and position before moving to Cayman?

I lived and worked in Jamaica as a System Analyst before connecting with Claire at CML and securing a role in Cayman.

Can you give me a brief description of what your role in .NET Software Engineering entails currently and how it compares to what you did before moving on-island?

I am currently a Programmer/Analyst with a financial institution. This role is very similar to what I did in Jamaica, where I was a System Analyst. In both jobs, I need to solve daily problems and ensure the smooth running of critical systems.

From your experience so far, how would you rate the IT environment (in terms of technologies, methodologies, etc.) in your current role compared to your previous jurisdiction?

The IT environments between Jamaica and Cayman are quite similar. Outside of unique cultural and jurisdiction laws and nuances of individual organizations, I can still carry out tasks that I am comfortable with and can grow and expand my knowledge.

When considering work-life balance, how does it compare to before you moved to Cayman?

The work-life balance is a bit better here. In addition, the accessibility of relaxing spots, such as being able to quickly stop by the beach for sunset or attend happy hour with friends, really increases your ability to unwind after work.

Since you first started your position in Cayman, what do you think has been your biggest challenge?

It was more the adjustment period…getting to know places and finding a place to live. As with any time you relocate to a new area, it takes a bit of time to get acclimated and learn your way around. Also, it can be difficult without a car (I recommend buying one shortly after arriving), but once all of those typical elements that come with moving fell into place, I was comfortable.

When considering the social culture of Cayman, how does it compare to where you were located previously?

It is very different; I have never been in a place with so much diversity. I am always fascinated by different cultures, and Cayman surely has allowed me to meet people from all over. Everyone is very warm and welcoming, so finding friends / making connections with colleagues isn’t hard!

What advice would you give .NET Software Engineers who are keen to make a move to Cayman? Anything you wish you’d known before you moved?

I would encourage you to consider Cayman if you have the opportunity. It is an excellent place to develop your skills while not feeling too stressed. Cayman could be just the place to excel in your career while living out an experience of a lifetime.

Whether you’re a Software Developer on-island already or are considering Cayman as your next career move, don’t hesitate to have a confidential conversation with the professionals here at CML Recruitment. We’re always happy to provide clarity and understand the industry and how the recruitment process works!

There’s significant growth in the IT industry here in Cayman, so there isn’t a better time to ask questions if it’s something you might be interested in, or just head to our IT Industry FAQs to find out more. To speak with our IT Recruiter, Claire, please send her an email at Claire.murrary@cml.ky and always feel free to check our current jobs on our website www.cml.ky/jobs

The 8 I’s of Building Synergy: Working with a Recruitment Agency

Tue, 22 Jun 2021 06:40:46 GMT

Turn your organization’s relationship with a recruitment agency into a strategic partnership built on synergy!

When done right, working meaningfully with a recruitment agency can turn into a partnership, more specifically, a strategic partnership. This form of relationship is built by synergy! This strategic partnership is a synergy where mutual success is tied to mutual performance. After all, organizations working with recruiters need the very best talent to fill their roles, and recruiters need to provide the best talent to secure billings.

The Eight I’s of Building Synergy

Before beginning your alliance with a recruitment agency, it would be best to keep a few things in mind. To build an exceptional relationship for your business and synergy in your workflow, we recommend you implement the 8 I’s daily.

Individual excellence: Both organizations bring strengths to the partnership and must elevate one another.
Importance: The partnership must matter equally to both organizations.
Interdependence: To build synergy, working together gets the job done better than working individually; both sides must contribute to success.
Investment: Developing a strategic and synergetic partnership is an investment. Working together brings success to both organizations.
Information: Building transparency strengthens the partnership; hiding information impedes trust.
Integration: Creating several points of contact across each organization is a must. To work efficiently, you must always be in touch quickly.
Institutionalization: Creating a formal structure can aid in building a workflow that works from both sides.
Integrity: Trust is critical in building a partnership!

Building a partnership may be tricky at first, but it can provide many benefits when done right. So, before you cross your T’s on a contract, you must first dot your I’s!

Build Synergy with CML

Work with us! CML Offshore Recruitment is a master at building meaningful relationships and working synergistically with our clients to help them find the top talent for their teams. To learn more about the recruitment process, feel free to get in contact with one of our talented recruiters at info@cml.ky.

CML Group Announces Louise Reed will be Managing Director

Wed, 28 Apr 2021 07:03:42 GMT

The CML group of companies has appointed Louise Reed as incoming Managing Director*, overseeing the function of CML, Nova Recruitment, and the newest member of the group, Connect by Nova. Louise takes the reins from Steve McIntosh, who steps down after 17 successful years in the role.

Louise’s Recruitment and HR experience span over 20+ years; She joined CML Recruitment in 2009 as a Recruitment Consultant, managing the financial services recruitment for eight years. Over the past 12 years, Louise’s successes have allowed her to expand the CML Group with the founding of both Nova Recruitment in 2016 and Connect by Nova in 2020, focusing on career development and training options for the local community in Cayman.

Louise is passionate about diversity and inclusivity and is committed to supporting the talent development of aspirational individuals. She is a founding member of NPO Gender Equality Cayman and served as Co-Chairperson of the Board for four years. Prior to this, Louise served six years as a Director for the Board of The Cayman Islands Human Resources professionals .

Former CEO, Steve McIntosh said: “I have always said that my most important job as CEO was to hire great people, and there is no greater source of personal pride for me than the incredible team of committed and able leaders I leave behind in Louise, Will, Graham, and Ambrose. There is no doubt in my mind that Louise and the team will take the success of the company to new, unencumbered heights.”

Louise Reed said: “I’m excited and honored to move into the position of Managing Partner of the CML Group of companies at this important time in the company’s continuing journey of growth. We all have great opportunity in front of us: our clients, partners, and our dedicated and talented employees across the group. My goal in leading the group is to build on the achievements of the past 17 years, remaining the innovative leader in the market and positively impacting our community.”

Louise continues: “Sincere thanks to Steve for his strong leadership since the founding of CML. His insight, commitment, and support have been invaluable through our formative years in business together, from the early days of CML Recruitment to the establishment of the wider CML group of companies that we are all incredibly proud of today.”

Steve McIntosh will remain a contributing member of the board of the CML group whilst focusing on the day-to-day operations of his newest venture, CareerPoint , a career coaching app launching soon.

*The appointment of Louise Reed to Managing Director is pending immigration approval

Working Effectively with a Recruiter

Tue, 01 Sep 2020 06:44:16 GMT

Many clients engage a recruiter to assist in their search and selection process, particularly if they are looking to hire professionally qualified staff in the Legal or Financial Services field.

If you’ve never worked with a recruiter before, it might seem a bit confusing as to what to expect when working with them. As a rule of thumb, a meeting or phone interview with a recruiter should be handled the same as one would an interview with a potential employer. As recruiters work on behalf of their clients, you can think of this meeting for all intents and purposes as a screening interview – a chance for the recruiter to get to know you, see how you react and compose yourself in an interview setting, and also start to see what clients/positions you might be suited for.

So, what should you do to set yourself up for success while working with a recruiter? Follow these tips!

Prepare for the Meeting with your Recruiter

Prepare the basics

As with any interview, it is crucial to take the time to prepare for your meeting adequately. One such step is to make sure you know where you’re going to be meeting, and/or to ensure that the technology required for the interview is working and ready. Being late for the meeting can be the end of your relationship with a recruiter (no one wants to represent someone that isn’t punctual), so if for some reason you might be delayed, always provide as much warning as possible.

Prepare your answers

Be prepared for difficult questions or objections. A thorough recruiter will want to find out what attributes you have that would make the client hire you. They will also want to identify areas of weakness and reasons why the client might not think you’re the right fit. This might seem harsh, but it will benefit you, the recruiter, and the client in the end. Before the interview, you will need to identify these potential objections to be successful in your meeting. Your answers should overcome the objection without you appearing defensive. However, also be aware that some hurdles cannot be overcome. For example, the client may be looking for a specific number of years PQE for a role or a particular qualification, so if this is a stipulation of the position, don’t try to argue with the recruiter – they’re only doing their job! They may well have other opportunities to discuss with you, so you don’t want to start on the wrong foot.

Research the recruiter

Learn as much as you can about the recruiter you are meeting with or speaking to and do some research into the recruitment process. Knowing how the process works will aid you in being able to navigate your way through the meeting. At CML, we typically go over the process with our candidates upon meeting them for the first time, so they know what to expect from us.

Prepare any materials

Along with your resume, be sure to have contact details to supply of three to four professional referees who have agreed to provide a written and/or verbal reference. Also, if you have any generic references that have been prepared by previous employers or performance reviews, do have these to hand at your initial meeting as it will only help the process run smoothly.

Dress to impress

If you are meeting face to face or over Skype, proper attire is vital to a successful meeting with a recruiter. A professional business suit is a safe choice for either a man or woman, and a man should always complement his outfit with a nice, conservative tie. Clothes should be freshly cleaned and pressed, and shoes should be shined. Your CV and supporting documents should be carried in a folder or file, not screwed up at the bottom of your bag!

Be Professional

Set the tone

Remember, the objective of the initial meeting is to get an introduction to the recruiter’s client. Without meeting the client, there is no way you will get hired! Set the tone of the meeting with a professional greeting and, if possible, a firm handshake.

Be engaging

Small talk is a part of every interview, and this will be no different with your recruiter. Understand that they are merely trying to make you feel comfortable. Be cordial and friendly, but don’t over talk! Remain focused on discussing your skills, experience, and qualifications, but ensure that you engage with them; make them interested in what you have to tell them.

Be courteous

As obvious as it may sound, do not forget to turn off your cell phone before going into your meeting and ensure that no other interruptions are likely to occur. You wouldn’t leave it on during an interview with a client, and you should be treating this meeting as you would an interview with a prospective employer.

Showcase your interest

Before ending the meeting, ask your recruiter about the next steps in the screening process and the anticipated time frame for decisions in respect of any specific positions that you are applying for. This confirms your interest in the post as well as interest in working with this recruiter.

Say Thank You & Maintain the Relationship with your Recruiter

Thank your recruiter for their time

Before leaving or before your call comes to an end, don’t forget to thank the recruiter for the meeting. While it is the recruiter’s job to find talent for their clients, it is still common courtesy to say thank you and to recognize that they have taken the time out to meet with you.

Send a follow-up to your recruiter

You may wish to follow up on the meeting with a brief email, thanking the recruiter for their time, confirming any action points agreed, and asking if they would benefit from any additional information.

Close your email by reiterating your interest in working with the recruiter. Although you might not be the best fit for the particular job or opportunity that you discussed, if your meeting with the recruiter goes well, you are sure to be considered for future positions.

If the recruiter promises to call in a couple of weeks and you haven’t heard back, don’t be afraid to make a follow-up call after the two weeks have elapsed. There may have been no further news from the client that they are working with, but it shows that you are enthusiastic and keen to pursue this and other employment opportunities. Recruiters deal with many different candidates each day, so try to be patient when waiting for feedback.

Leave the meeting on a positive note

Most importantly, don’t forget that your recruiter will be key to you securing a new job. Ensure that you leave them with a positive impression, and they will do their utmost to assist you, and while you might not be successful in securing the role that you initially applied for, maintain a positive relationship, and they will continue to support you in your job search actively. Influential recruiters often have the ear of their clients, and a positive relationship with them will only benefit you in your job hunt and/or future career endeavors.

Keep your recruiter informed

And finally, remember to keep your recruiter informed of any other applications that you are making. They should have no problem with you making direct applications, or even working with other recruiters, but ensure that there are no conflicts and that you are open and honest about other processes that you are involved in. There is nothing worse than progressing to the final stages of a recruitment process and for your recruiter to communicate a job offer, only to be told that you have taken a job elsewhere that they knew nothing about. Remember, you may well need their help again in the future, so maintaining a positive relationship is key.

Need to identify the right recruiter to work with? Reach out to info@cml.ky or meet our team here .

Why You Should Consider a Career as an Audit Senior in Cayman

Thu, 23 Jul 2020 07:26:00 GMT

One of the best places to develop a career as an Audit Senior is in the Cayman Islands.

Many different industries make up the vibrant economy of the Cayman Islands; however, one particular pillar of the economy is thriving – financial services. Qualified accountants are always in demand in Cayman, and this is particularly true here at CML, where a steady portion of our work comes from placing Audit Seniors in some of the world’s top accounting firms.

If you are currently working in Audit but are looking to move out and into industry, check out our blog on this process here.

Why Should You Consider a Career as an Audit Senior in Cayman, and What Should You Expect?

1) Work for Top Global Employers

Cayman is one of the best places to work in audit , as there is a broad focus on Financial Services, and over 60% of the world’s hedge funds are domiciled in Cayman . Many Audit Seniors start with Big 4 or Top 10 firms.

Typically, we start speaking with Audit Seniors in the spring before the next audit season begins. Firms like to have new audit seniors to begin at the same time as other audit seniors as a “class” (usually October/November), as this can make settling in and finding your feet in a new company much easier (hello automatic peer group)!

2) Resources and Training

When onboarding Audit Seniors, sometimes we get asked, “Are these firms going to expect me to know everything about offshore financial services?” The answer is no. Part of the reason the firms prefer to have a “class” of auditors begin at once is that there will always be a period of training. While the work may be demanding at times, you’ll gain a ton of knowledge that you wouldn’t elsewhere. We recommend you come into it with a great attitude and be ready to learn.

3) Opportunities for Promotion

The possibility of being promoted is a bit higher and moves much quicker than it would at onshore counterparts. In addition to the standard attrition rate experienced in public accounting, there is more opportunity for advancement offshore as some folks will look to continue their global travels, leaving additional openings. While we don’t recommend being impatient and antsy, it is always possible for a promotion within your first two-year assignment should you put the work in and prove yourself a strong value-add for the organization.

4) The Work-Life Balance

When speaking with Audit Seniors from across the world, one of the downsides to their current day-to-day is their commute to and from the office. The chances are that when you live in Cayman, your commute likely won’t be over 5-10 minutes. While you may experience 50-60-hour weeks in high volume times, your proximity to the office means you’ll have lots of free time for exercise, leisure, and sports. You’ll probably find yourself having enough time after work for a swim in the ocean or stopping for a beer to watch the sunset with friends.

5) Offshore Exposure

For international candidates, looking from a broad career prospective, the experience you’ll gain from offshore financial services can allow you to get to the higher salaried roles in audit, advisory, and industry either offshore if you decide to stay for the longer term, or back onshore.

6) Cayman is a 100% Tax-Free Jurisdiction

For international candidates, this one is a no-brainer. Living in Cayman as an Audit Senior means you take home much more than you would onshore. With there being no income tax, you can expect your take-home pay to only have a few small expenses coming out each month for health insurance and pension. The firms in Cayman offer generous relocation packages, bonuses, and vacation days. Additionally, once you start to move up the ranks, the zero tax starts to make a huge difference.

Why Work With Us?

Here at CML, we are the largest recruiter based in Cayman, with professionals solely basing their focus on qualified accountancy recruitment. You’ll benefit using us during your job search rather than a recruiter in the UK or Australia as they won’t be able to answer your questions about life on the ground in Cayman or have personal relationships with your new employers. We’re the preferred recruitment agency for the Big 4 and the Top 10 across Cayman, Bermuda, and BVI, so don’t hesitate to reach out to us if you have questions. We know our stuff!

If you’d like to learn more, feel free to reach out to us for a confidential conversation. Not to toot our own horn, but recruiting for Audit Seniors is kind of our thing, so if you’re interested in developing your career in this field, you’re in the right place .

Everything You Need to Know About the JobsCayman Portal

Fri, 05 Jun 2020 09:20:30 GMT

The JobsCayman portal is up, running, and ready to use. We’ve compiled a quick reference article to help you navigate the platform, with everything you need to know about registering, posting a job, and reviewing applicants.

The Basics:

What is the JobsCayman portal?

The JobsCayman portal is an online system that allows registered users to access job postings created by registered employers.

Who is the JobsCayman portal for?

The purpose of the system is to offer a better approach to facilitate Caymanians in finding employment. It will also eventually allow Employers to search for qualified and skilled Caymanians who are seeking employment.

I am an Employer. Do I have to register my company on JobsCayman?

You have to register your company on JobsCayman if you would like to submit a job post to seek a qualified and skilled Caymanian to fill the position, or if you wish to make an application for a work permit in the event that you are unable to source a suitably qualified and experienced Caymanian candidate.

Is the JobsCayman portal available to use now?

Yes. Please visit the site here .

Registering With the JobsCayman Portal:

Who has to register with JobsCayman?

Job seekers will create a CIGnet account and register as a ‘Person’. Once approval is received, this will allow them to register as a ‘Job Seeker’. Job seekers can be Caymanian, Married to Caymanian, Permanent Residents or Legally and Ordinarily Resident within the Cayman Islands.

An authorised individual from an employer business will create a CIGnet account and register as a ‘Person’. Once approval is received, this will allow them to register the company as an ‘Employer’ and then submit job vacancy posts. More than one person can be authorised to access the company account and submit vacancies on its behalf. WORC sends email confirmations when each step of the process is finalised and also sends email notifications when applications have been submitted in response to a job posting.

If previously registered under NWDA, is re-registration required?

You can use your previous NWDA log in details to register as a ‘person.’

If you forgot your CIGnet password, can you get that reset? And where do you write to get that reset?

Yes, you can – follow this link to request a password reset.

How do I register as a person with JobsCayman?

To register with JobsCayman, you will first need to create a CIGnet account. To do this, go to the tab on the top right corner of the WORC home page entitled “Create Your CIGnet Login’ – to access this page, click here .

Follow the steps and use those login details to register as a person with JobsCayman. Fill out your Personal Information and upload a valid ID under ‘Passport’ and Proof of Immigration Status under ‘Evidence’

I just registered as a person. How long will it take for my registration to be approved?

It takes 1-3 business days to be approved, provided there are no issues with the registrations. You will be contacted via email if any additional information or documentation is required.

How do I register as an Employer with Jobs Cayman?

To register as an Employer with JobsCayman, you will first need to register as a Person.

Follow the steps and use the login details to register as an Employer with JobsCayman. Upload a valid Trade & Business License (or equivalent), a valid ID, an Authorization Letter, and your Annual Return, if applicable. If the Authorization Letter is signed by someone other than the primary person who is a Director/Shareholder of the company, their valid ID must also be uploaded.

Is it recommended to register an employee who is not a director of the company as an agent?

Anyone that will interact with the portal has to be registered, and a letter of authorization from a Director of the company can be uploaded with the registration

For the authorization letter, do you need all directors of the company to sign it and require a copy of the Register of Directors (or Annual return)?

One director can sign the letter. Yes, a copy of the Register of Directors (or current Annual Return) needs to be provided when registering the business if it is a limited liability company.

What does the authorization letter need to contain?

The letter will confirm that the employer authorizes the primary person listed to register the JobsCayman account and to act on their behalf.

I just registered as an Employer. How long will it take for my registration to be approved?

It takes 1-3 business days to be approved, provided there are no issues with the registrations.

Are the required documents indicated in the application process?

Yes, they are, and WORC has provided guidance here .

Job Posting on the JobsCayman Portal:

If we use this process to add jobs, do we still have to run ads in the local papers, or is listing them on the JobsCayman portal sufficient?

You can still run job adverts in the local paper, but if you intend to submit a work permit application, the job must be listed on the JobsCayman portal before submission. While WORC is waiting for all job seekers to be registered, it is suggested that Employers advertise in the local paper together with JobsCayman.

How long is a job advertised on the JobsCayman portal?

18 days

Are the job postings automatically deleted after two weeks?

No.

How long are the postings valid for on the portal?

Job postings will have the same validity on the job portal as with newspaper posting.

If I posted a vacancy in the JobsCayman portal, and it took three months to complete the recruitment, would I need to post it again?

Job postings will have the same validity on the job portal as with newspaper posting

Are we able to see expired job ads?

When you submit a new job post, you will see open and expired job postings under ‘job posts’

Are we required to make payments for positions posted?

Not at this time, but it is expected in the future.

Are there any positions that are exempt from having to be advertised in the portal?

Any positions that are currently exempted from having to be advertised in the newspaper (such as a Domestic Helper) will be exempted from being advertised in the portal until the public is advised otherwise.

Are we able to see all the positions we have available?

You should see all of your available positions when you register as a job seeker and search for jobs under your company. Alternately you can submit a new job post, and you will see open and expired job postings under ‘job posts’

Are there penalties if persons/companies choose not to post their adverts on the JobsCayman portal?

Employers are required to post their adverts on the JobsCayman portal before submission of a work permit application.

What about if the applicants choose to be interviewed for another position, rather than the one selected in the portal?

You will note this in the comments section when reviewing applicants.

If we are only seeking Caymanians, are we still required to post an advert on the JobsCayman portal?

You can advertise the role in a local newspaper and on the JobsCayman portal to encourage applications from Caymanians

How do you deal with personal employers who will have staff, e.g., a handyman or Nanny? Would you register your home as a business?

You can register as an employer using the industry code for employers of domestic personnel

Reviewing Candidates/Applicants on the Jobs Cayman Portal

Is there a way for employers to browse candidates/persons registered as job seekers?

This feature is not currently available.

How do you review applicants? If multiple persons have access to the employer portal, can everyone see the applicants?

You will go to the section ‘review applicants’ if an application has been received. Anyone who has access to the employer’s profile can see the applicants.

How Can CML Help?

If you need assistance with setting up the CIGnet and JobsCayman accounts and permissions for your business or require specific advice for managing your ongoing applications, please do not hesitate to contact our Cayman immigration consultants Denize Solomon on Denize.Solomon@cml.ky and Juliette Gilbert on Juliette.Gilbert@cml.ky .

Trust Market Interview: Sun, Sea & STAR Trusts

Mon, 01 Jun 2020 09:48:49 GMT

In this interview, our consultants Graham Blyth and Will Koutney will explore the current state of the Cayman Islands’ trust industry. Commentary will be provided by leading local trust practitioners with over 20 years combined legal and accounting experience who offer a valuable mix of insight into historical trends, current developments, and predictions of things to come.

This blog is a snippet of the fully published article; read the article in its original and full format here .

Trust Industry Interviewees

Esmond Brown

Esmond is a Senior Associate attorney in Appleby’s Private Client and Trusts team in the Cayman Islands with over 6 years’ of experience onshore and offshore in England, Guernsey and the Cayman Islands. He has been in Cayman for over three and a half years and has worked on a wide variety of complex trust and estate matters. His practice encompasses both non-contentious advisory work as well as contentious instructions and his client base consists of HNW and UHNW clients from all over the world as well as institutional clients in Cayman and elsewhere and international law firms.

Lee Hart

Lee is a Senior Manager at Genesis Trust & Corporate Services Ltd. with over 14 years’ experience in the financial services industry. Starting in the restructuring department of a Big 4 firm in the UK, he has been working in the Cayman Islands for the last 9 years involved with complex cross-border insolvencies, trust disputes, fraud investigation and regulatory compliance cases across a wide range of industries and structures, before focusing on private client, trusts and related corporate services. He is a member of the Institute of Chartered Accountants of Scotland, the Society of Trust and Estate Practitioners, completing the STEP Diploma in International Trust Management, and a Fellow of Insol International.

What role do you play in the Cayman financial services industry?

Esmond: As a private client attorney in Cayman, my role is varied and wide-ranging. Given that trust teams tend to be smaller in Cayman, I can have as many as forty or fifty matters going on at any one time, with instructions ranging from advice to trust companies on structures under their administration, to setting up trust structures for UHNW/HNW individuals, to working with onshore lawyers on transactions involving Cayman trusts or other private wealth structures or attending the Grand Court for a litigious trust matter. The work is very varied, and no one day is the same and can quite often be technical and challenging because there is very rarely a black-and-white answer where equity and trusts are involved. As a private client lawyer you need to have a broad skill set on which to draw upon! Trust work quite often spans the corporate and commercial, and litigation worlds, and therefore, I frequently find myself working alongside lawyers and colleagues from different departments in Cayman or in our other offices. With the introduction of new foundation company legislation in the jurisdiction, more and more I am finding myself working on corporate constitutional documents alongside trust deeds.

Beyond the office, my role involves regular business travel, where I spread the word about the fantastic work and developments that are going on in Cayman on the private wealth side. Whether this is by attending and speaking at conferences and seminars or by knocking on the doors of law firms, trust companies or investment managers at the various financial centres, it is not only important to stay relevant but also to educate and remind people about all of Cayman’s advantages. My job is made easier because Cayman has a very active and healthy STEP branch that does a fantastic job of uniting the industry and connecting us with regular seminars and the now well-established and excellently organised STEP Cayman conference, which has been featuring at the end of January (the scheduling is, I expect, entirely deliberate!) for the last three years and welcomes hundreds of trust professionals from all over the world.

Lee: As a licensed Cayman Islands trust company, we fulfil the role of trustee acting in a fiduciary capacity to manage the trust property for the benefit of those persons beneficially entitled or for its specific purposes. As trustee we will seek to carefully administer and distribute the trust assets in accordance with the terms of the trust and considering the Settlor’s wishes, which may be of a highly sensitive nature, engaging local and international experts and consulting the Court where appropriate.

The day-to-day work in administering a trust will vary depending on the nature of the underlying assets and the terms of the trust. The core duties of the trustee will however remain to carefully manage, oversee and account for the trust to ensure it is operating as intended while thoroughly considering and documenting decisions made in good faith with due skill and care; and ensuring global regulatory requirements are satisfied.

The strength of the Cayman Islands trust industry assists in attracting a wide range of private clients and their advisors to the jurisdiction whilst generally helping to enhance the jurisdiction’s global reputation and appeal, with the potential for wider benefits to the Cayman Islands financial services industry.

What are some of the advantages of establishing a Cayman Islands trust over those in competing jurisdictions?

Esmond: Cayman is a first-class trust jurisdiction; not only is the legal framework as strong and reliable as you will find anywhere offshore but the quality and independence of the judiciary alongside the well-developed and respected court system as well as the advisers, managers and trustees who practice here make it a very robust and market-leading trust jurisdiction.

It is perhaps the Special Trusts (Alternative Regime) Law (commonly referred to as the STAR Law) that is the structuring jewel in Cayman’s crown. A construct of statute, the STAR Law provides for a non-charitable purpose trust that can be established to hold assets to benefit beneficiaries or further purposes or both. The provisions of the STAR Law that enable such a trust to have objects which are individuals and/or purposes is unique to Cayman. STAR trusts may be created for an unlimited duration and are used in many commercial transactions where the ownership of the shares in an underlying company is held by a STAR trust. STAR trusts are favoured by clients all over the world for the flexibility they provide and are used by settlers for asset protection purposes for multiple generations. This is due to the fact that a STAR trust may be created for an unlimited duration and in many commercial transactions where the ownership of the shares in an underlying company is held by a STAR trust.

With the de-risking of some of the larger bank-owned trust companies about five or six years ago, there was something of a market contraction in the number of recognisable names providing trust services. Whilst at the time this was seen as something of a concern for the trust industry, it has meant that in recent years truly independent trustees have been able to come to the fore and prove that deep pockets and reputation is no longer a prerequisite for quality. The independent ownership model, coupled with smaller scale organisations has led to a greater degree of flexibility and commerciality with those companies providing trust services and has led to a fleet of foot where decisions are being made much more quickly. I would argue this has meant that the range and diversity of trustees on the Island is as good as it has ever been.

Without competition amongst lawyers, trustees and investment advisers our industry would undoubtedly become complacent and not adapt and develop with the changing tides. In the private wealth industry, the institutions in Cayman, both private and public have proven themselves time and again to be willing to embrace the changing regulatory landscape and tackle new challenges which is why it has remained at the forefront of the offshore world.

Lee: The Cayman Islands has established itself as a leading jurisdiction for the establishment and management of trusts. Cayman has a sophisticated professional trust sector with modern trust legislation and regulations, along with an effective and highly competent regulatory and judicial system; overseen by the Cayman Islands Monetary Authority and the Grand Court of the Cayman Islands.

The Cayman Islands legislature has also shown it is willing to adapt in order to strengthen the jurisdiction’s offering and meet client needs. Legislation developments such as reserved powers and firewall provisions, private trust companies, STAR Trusts and Foundation Companies have all complemented the existing trust and corporate framework to provide true flexibility to potential clients and their advisors from a wide range of jurisdictions. This flexibility, combined with the location and stability of the jurisdiction and effectiveness for asset protection, estate planning, confidentiality and tax benefits within global parameters, have contributed to making the Cayman Islands one of the most desirable locations for offshore trusts.

Is your client base truly global, or do Cayman trust structures appeal to UHNW and HNW individuals from specific locations?

Lee: The Cayman Islands, as a British Overseas Territory with a legal system rooted in English common law, has historically been most appealing to those jurisdictions with a similar legal framework and where potential clients are familiar with the types of structures on offer. This is in contrast to civil law countries, where the separation of legal and beneficial ownership and the idea of giving up control of assets can be a somewhat foreign concept.

The developments mentioned in the previous answer have provided a platform to create structures more familiar to those clients, which has proved to be very attractive and widened the geographic reach of our client base. This global application and appeal is a further strength of the Cayman Islands financial services industry as a whole.

Esmond: In short, yes, I never know where in the world the next instruction or telephone call is going to come from. Cayman trusts and foundation companies are attractive to clients and advisers in the Far East, the Middle East, Russia, Europe, North and South America and Canada. Whilst there has undoubtedly been a change of focus for clients in localities like the US and Europe, where trust creation no longer has the same practical advantages, I still find myself providing advice to trustees, law firms and beneficiaries from these places on existing structures, but new trust establishments now come from countries like the PRC, Hong Kong or right here in Cayman. There are many sophisticated clients in Cayman who have chosen to base themselves here full-time or for part of the year. The work I assist our on-Island clients with can be as pervasive as a complete structuring or re-structuring of their whole wealth plan or as simple as drafting their Cayman Will.

Whilst the trust is not necessarily the right structure for every client, I quite often find that if I am asked to assist settlors from civil law countries, if they cannot get comfortable with the principles and concepts of a common law trust, an alternative such as the relatively new foundation company or long-established exempted company is likely to have a great deal of benefit as part of their overall wealth planning objectives.

As mentioned at the start of this blog, this is only a snippet of the full interview. Feel free to download a copy of the full interview here .

The Fear: Moving Offshore and Embracing Change

Thu, 21 May 2020 10:15:48 GMT

As humans, we know the feeling of fear. From when we’re growing up as children to becoming our adult selves, fear shows itself all of the time in tons of different ways. But how do you combat it when it could be the only thing keeping you from living your best life imaginable?

Since I just made my first international move last year, I’m in the perfect position to explore this topic!

One of the toughest parts of being in recruitment is persuading potential job seekers to consider a move offshore and outside their comfort zones. Virtually 90% of initial calls to candidates asking if they would be interested in roles offshore finish with a “Yes indeed” or “Absolutely, we would move tomorrow,” only to be followed up in an email later with “It’s just not the right time” or “the other half doesn’t want to” or “we have these certain traditions, we could never give those up.” This is a constant hurdle that recruiters and international firms have to face when speaking with candidates overseas because so many are plagued with what I’m coining as ‘the fear.’

Why Are People Afraid?

Is it the unknown? The new start? Having to make new friends? Or is there just too much to do to make it all happen? The truth is, all of the above can trigger fear in someone, and that is because the anxiety felt when considering a move is change and the perceived uncertainty that comes with it.

Many of us like our routines and change can make one feel uneasy. When you think of life in the Caribbean, you probably think of images taken from the movies of sunsets on a yacht, playing beach volleyball with a bunch of good friends, and having a BBQ on the beach. Yet most people then naturally jump to thoughts like “But what about my grandparents” or “Actually, I think I’m on the right path… I’ve been at this company for X years, and if I keep going, I’ll be up for a promotion soon.”

I’m guilty of looking at both sides too (don’t we all?). When I was looking to make my first big move to Cayman a year ago, I wanted to make sure the lifestyle I was moving to was as good/better than what I was leaving behind. I try to put myself in my candidates’ shoes when speaking with them and help to clarify these points, as I’m sure these are just a few of the things going through their head (I know they were in mine!):

The Reality of Moving Offshore: Is ‘the Fear’ Warranted?

Is moving to Cayman difficult?

With Cayman being a tax-free jurisdiction, you are in a great position to make more money, be able to put back savings, and gain the offshore experience that is going to ensure you’re ideally placed should you ever decide to move back onshore.

How is the work-life balance?

While everyone’s expectations are different, I can safely say that Cayman will likely suit your needs. In my experience of working with overseas candidates, I hear horror stories of working massive amounts of overtime, spending hours a day on daily commutes, and usually despising the work that’s actually being done (and maybe the boss, too!). Here in Cayman, you can expect abbreviated commutes to the office each day, more normalcy when it comes to working hours, and generous vacation time (not to mention, the 12 annual public holidays).

Is the cost of living as high as everyone says?

Moving from the states, I did notice slightly higher prices at the grocery store, gas stations, and in the restaurants and bars, but wouldn’t say it was outrageous. When you factor in your tax-free salary and don’t go out for lobster four nights a week, you’ll adjust just fine!

Check out our cost of living guide for Cayman to see a more detailed breakdown of what to expect!

Is making friends/fitting in tough?

You will surprisingly create a friend group quicker than you think, as there is a large expat community in Cayman and the locals pride themselves on being CaymanKind. Whether you’re into sports, volunteering, brunch, beaching, or sensational sunset views at as many networking events as your heart could desire, you’ll undoubtedly be in your element before you know it.

If you still can’t break the routine of your daily life and are unaware of the fact you might enjoy even just a three-year move to a tropical island, then I’m afraid you might have “the fear.” There are ways to tackle this, though, such as researching as much as you can , joining expat groups on social media, and merely asking your recruiter all the questions!

Looking back on the past year, there’s been ups and downs, but ultimately, making a move offshore has taught me loads, personally and professionally. Now, off to do some stand-up-paddle boarding! Cheers!

Practical Tips To Support Your Employees’ Engagement During COVID-19

Mon, 04 May 2020 10:51:05 GMT

Due to the ongoing lockdown, resulting in shifting most of our teams to remote work, many organizations have been struggling with this new form of normalcy. Some people might feel that working from home can negatively impact company culture and employee engagement. It very well might if the organization doesn’t make an effort to engage with employees; however, in many cases, this work arrangement is an opportunity.

Here are three practical tips to consider that will help your business stay engaged with your staff during this time of COVID-19 with employees working from home and sheltering in place.

1) Help Employees Take Pride in Meaningful Work

The COVID-19 era has led many businesses into times of uncertainty. Organizations have been forced to cut down their business operations, reduce employee wages, and prepare for times with no cash flow. As much as organizations continue to fight this battle in uncharted territory, their soldiers (employees) are also struggling during these unprecedented times of uncertainty. Many of them living in fear of losing their job, source of income, or career opportunities. During this time of crisis, it is crucial to help employees feel valued. When you do this, you will find that people will start to share their insights and ideas and become loyal to your company rather than to their paychecks. How do you instill a sense of pride in your employees? Lay out your company goals and communicate honestly with employees about the challenges your business may be facing.

When you let employees know that the company needs them during these unprecedented times for essential tasks that only they can perform successfully, they will surprisingly rise to the occasion. Often, what the management team feels will motivate and inspire their employees is very different than what employees feel will be motivating to them. Instead of assuming you know what employees care about, engage with them, ask about them curiously, and instill pride in them.

2) Engage through Shared Ownership

One common barrier to this is leaders who feel they need to have all the answers, or they will appear unsteady. Leaders need to shift their perspective on ownership of engagement so that it becomes a natural and positive discussion among their teams. A strong leader knows that the best answers often come from their teams.
What’s more, the key to engagement is through shared ownership of it with their people. When leaders use shared responsibility correctly, it can become the best way to build strong and sustainable employee engagement.

When people are part of the solution and know they are a valuable part of the work and decisions being made, that is to say, when they have a sense of ownership, they are much closer to being engaged.

They share the responsibility for how to reach desired outcomes successfully; this shared responsibility results in people knowing that they matter to the success of the firm and the work being done.

3) Engage with Employees Regularly and Support their Well-Being

The final tip has to do with emotional support. Speaking from personal experience, when you work from home, you’re disconnected. Some of your employees are going to love that. Others, not so much. Team leaders need to set up a time to chat with remote employees – about work projects, of course, but also just a “how are you doing?” and “what can I do to support you?” In many office environments, this happens in small 5-minute chats throughout the day. Now, it’s going to have to be a little more intentional.

Encourage employees during this time to take care of themselves. Let employees know that you understand the challenges they’re facing. Families are spending all day together. Let that sink in for a moment. Employees are working and home-schooling their children in many cases. They can’t see parents, grandparents, or closest friends. No birthday parties, anniversaries or traditional holiday celebrations and this can be extremely hard for them.

Maybe now is the time to create some (virtual) employee groups and social activities. Organize a virtual Happy Hour, set up regular office stretches/meditations, or office lunches for those who feel like taking a break from their families. Of course, make everything optional, so it doesn’t feel like you are forcing these activities upon employees. The possibilities are endless for what you can be doing together as a business, helping each other as colleagues and friends during these unprecedented times.

I honestly don’t have all of the answers here. But you know who might? Your employees! Consider asking employees how organizations can best support them during this time. There are many employee engagement platforms out there that you can use to gather data and ideas. Don’t know where to start? Speak to a member of the CML HR team and we can help you figure out the best course of action for your team, for free.

The ultimate goal (and the challenge) is to be there enough that employees know you’re supporting them, but not so much that all of the activities get in the way of the work. It’s a delicate balance. Asking employees what they need – and they might not know right away – will help start the conversation, and it will engage the workforce by bringing them into your strategic planning. Read more about how our team here at CML did just that with what we’re coining the “Coronavirus Scorecard” .

The CML Coronavirus Scorecard: Room for Improvement

Tue, 07 Apr 2020 09:25:31 GMT

At CML, we take HR pretty seriously, so we’re sharing our coronavirus crisis scorecard. Spoiler alert: there’s room for improvement.

I guess you’d expect us to take HR seriously considering we do HR for a living, and are run by someone that – shameless plug alert – wrote a book about how HR drives company value . Anyway, it will comfort you to know that we practice what we preach.

One of the most important aspects of HR is employee communication and feedback. We’ve had regular meetings and provided regular updates since the start of the coronavirus crisis. Well, from March 12th anyway, which is the day the first coronavirus case arrived on our shores . Hard to believe that was nearly six months ago. Wait, what? It was only three weeks ago? Oh, right.

Our Response to the Coronavirus Pandemic

Anyway, as events unfolded in the days that followed, like most offices, we implemented a work-from-home policy and held all-office video calls to share information on the spread of the disease around the world and to try to ease rapidly fraying nerves. But, as the extent of the global coronavirus crisis became clear it was obvious our management committee had some serious work to do and hard decisions to make.

In fact, the first decision was the easiest to make: No one would be laid off . Many are surprised to learn that CML has 24 staff between our five recruitment teams, immigration, HR consulting and support staff (including, of course, our “sister company”, Nova ). For once, we reached unanimous consensus on a ManComm agenda item in under a minute.

Laying no one off was an easy decision for three reasons.

First, it was unthinkable to lay off anyone at the start of a crisis in which new jobs would be very difficult to find.
Second, it didn’t make sense for the business. It’s taken us 16 years to build the team we always wanted, every single person adds value, and when the crisis passes, we will be busier than ever.
Third, we didn’t have to.

Budgeting down to the nickel showed that some cost-cutting and shared sacrifice (including management pay cuts of up to 50%) would give us at least six months of runway under a worst-case scenario of virtually no business volume. Our exacting budget gave us the confidence to announce early on that no one’s job was at risk.

We were open about the challenges faced by the global economy, the challenges that would bring to us as a business and the plan for us to get through it together. We let everyone know that while we hoped it would be over sooner, we were planning for a period of six months. We talked openly about the sacrifices we were making as a management team and the sacrifices we were asking them to make (if they could). We asked everyone to remember that all we really need at the end of the day is our health, a roof over our heads, food in our fridges, and high-speed internet, and that if we all did what we could to adjust, we could all make it through this challenging time together. Profits and losses don’t matter anymore, the only thing that matters is that everyone is safe and has everything they and their families need to get by.

On March 20th, we met with each and every staff member individually to consult them about their situation, present the options, make sure they understood how the changes would impact them, and to reassure them that we would do everything we could to minimize the impact and get things back to normal as soon as possible.

The Overall Outcome

So how did we do? Not bad as it turns out. Below are the results of our anonymous staff survey. There is some room for improvement and we are taking the suggestions we received on board, particularly the need to improve communication.

Our organization has taken appropriate action in response to COVID-19. – Average answer 9.7/10
Senior Leadership does a good job of sharing information regarding COVID-19. – Average answer 9.3/10
I have confidence in the organization’s ability to overcome the challenges faced by COVID-19. – Average answer 9.1/10

I’ve always felt that, when it comes to employee communication, if no one is complaining that we’re doing too much, then we’re probably not doing enough.

To all of our valued employees, thank you so much for being a part of CML and for all of your hard work and support during these challenging times. It is an honour to work with so many people that share a sense of purpose, a work ethic and a set of values, especially my fellow shareholders and management committee members Louise Reed , Will Koutney , Graham Blyth and Ambrose Guilfoyle .

CML & Nova all-office zoom meetings are a common occurrence!

Insolvency Market Interview: Sun, Sea & Schemes of Arrangement

Tue, 07 Apr 2020 08:50:55 GMT

In this curated interview, our consultants Graham Blyth and Will Koutney seek to shed light on the current state of the Cayman Islands’ insolvency market. Contained herein, you’ll find key insights from leaders on both sides of the insolvency equation, both the Insolvency Practitioner’s (IP) perspective as well as legal counsel.

As the state of play seems to be changing by the hour, our subjects have attempted to offer a valuable mix of historical perspective, current developments, and predictions of things to come.

This blog is a rendering of the fully published article; read the article in its original format here.

Insolvency Industry Interviewees

Grant Hiley

Grant is a Director at Deloitte in the Financial Advisory practice in the Cayman Islands with over 12 years’ experience in public accounting. He has been based in the Cayman Islands for the past 10 years and specializes in cross-border insolvency and restructuring, financial investigations and asset recovery solutions. In addition to being a CPA, CIRA, and CFE, he is a Cayman Islands qualified insolvency practitioner (IP) and works on a variety of assignments, including liquidations, investment fund wind downs, corporate restructurings, and providing dispute resolution and other advisory services.

Peter Kendall

Peter is Senior Counsel in the Walkers Insolvency and Dispute Resolution team in the Cayman Islands with over 12 years’ of international restructuring experience. Since joining Walkers in July 2013 from the UK, he has worked on a wide variety of complex cross-border insolvencies and restructuring mandates, both contentious and non-contentious, for a range of institutional clients, licensed insolvency practitioners and international law firms. He frequently appears in the Grand Court of the Cayman Islands, as well as acting on matters in both the Cayman Islands Court of Appeal and the Privy Council.

What Role do you Play in the Cayman Financial Services Industry?

Peter : As an attorney specialising in insolvency and dispute resolution matters, a large proportion of my mandates are focused on assisting IPs with the orderly wind down of a fund’s affairs, often in the context of a Court supervised official liquidation process. In these circumstances, I will work closely with IPs with a view to seeking to maximise value to the estate and protect stakeholders’ interests.

This role may also require me to advise on or pursue claims on behalf of an entity in respect of potential misconduct of management in the period leading up to the commencement of the liquidation, as well as advising liquidators generally in respect of their ongoing statutory or contractual duties to a particular fund.

In addition to formal insolvency work, I frequently advise investment managers, directors and investors in relation to their respective rights and obligations to a fund and its investors as a matter of Cayman Islands law and will assist with the implementation and maintenance of best practice procedures. Such matters will be a particular area of focus for clients during an economic downturn.

Grant: The role of an Insolvency Practitioner in the Cayman financial services industry are wide and varied. An Insolvency Practitioner will often serve as a liquidator or a receiver, and depending upon a company’s circumstances and what process would produce the best outcome for the stakeholders, the role and duties of an appointment can be very different.

We will help stakeholders in situations where companies are insolvent or facing challenges with their cash flows, and in other instances when there is a dispute between management and its investors. Insolvency Practioners may also be appointed as a result of regulatory actions being taken against a fund or its management.

An Insolvency Practitioner will take control of a company, deal with and run the business, investigate what went wrong, report to the stakeholders. There might be complex legal matters, assets to be realized which are oftentimes illiquid, or negotiations with debtors and creditors to find a suitable outcome for the stakeholders. Ultimately, the activities of an Insolvency Practitioner will be driven by what is best for the creditors, and investors if the entity is solvent.

What Value Does the Part you Play Add to Market Efficiencies?

Grant: The Cayman Islands caters investment and financial solutions to private investors who take comfort in the quality of professionals, robust laws and regulations, and the ability of the courts to handle complicated and distressed matters in a way that is fair and consistent with the rights of stakeholders, while also maximizing value.

When circumstances do not go as planned for stakeholders, Insolvency Practitioners play a vital role in remediating issues and preserving investor confidence in the jurisdiction. In a circumstance where a bad actor has acted in a manner that damages stakeholder interests contrary to local law and regulation, Insolvency Practitioners in Cayman play a critical role investigating such conduct and where appropriate commencing proceedings to recover for wronged stakeholders.

In addition, Insolvency Practitioners can also be appointed as controllers by the local regulator, CIMA, in circumstances where the regulators consider that an entity or its management are acting contrary to stakeholder interests in violation of applicable law. This work all adds significantly to market efficiencies in the Cayman Islands, as well as elsewhere in the world given the very international nature of much of the work we do.

Peter: As the world’s leading offshore hedge fund jurisdiction, we are fortunate to have a very sophisticated financial services market in the Cayman Islands, supported by, amongst others, experienced professional directors, fund administrators, accountants and insolvency practitioners. I frequently advise these professionals on a broad range of practical issues, including in relation to asset realisation strategies, matters pertaining to potential breaches of fiduciary duties, the pursuit and defence of claims and day to day issues related to the winding down of an entity’s affairs.

Many of these mandates are commercially sensitive and high value, with the execution of a particular strategy often required to be implemented within a short time frame. Given the international nature of our work, I will often be required to work with onshore counsel across a number of jurisdictions and to coordinate an agreed approach with regard to a broad range of commercial and legal issues.

How Does an Insolvency Practitioner Interact with a Lawyer?

Peter: An attorney will work extremely closely with their instructing Insolvency Practitioners, providing advice on any legal and commercial issues arising during the liquidation of a Cayman entity.

Examples of the matters that an attorney will frequently advise on include compliance with statutory reporting requirements such as formation of a liquidation committee, the preparation and issuance of update reports to stakeholders and the Cayman Court, the payment of liquidation distributions, dealing with the potential pursuit of claims against former officeholders or other third parties and considering strategies for the realisation of assets and/or related negotiations. In reality, an IP will seek ongoing advice from their attorneys on a range of matters and a strong IP/lawyer relationship is critical.

One of the aspects of my job that I enjoy most is building relationships with my clients and this is particularly so in the context of large restructuring and liquidation matters in respect of which I will often speak with an instructing Insolvency Practitioner on a day-to-day basis over a period of months or years.

Grant: In a variety of ways. From the onset of an appointment until the conclusion of the assignment, an IP will work alongside a lawyer when undertaking investigations, asset tracing and recovery, defending or pursuing litigation, selling assets, adjudicating claims, distributing assets, and assessing regulatory matters. There are many more scenarios, but you get the point, IPs and lawyers interact on a variety of matters and having a strong working relationship is very important.

How do you Foresee Changes Over the Next Six Months and Beyond?

Peter: The pace of change caused by the COVID-19 pandemic has clearly taken many people by surprise and the economic fallout from this crisis will no doubt be severe. Whether the hitherto unseen levels of government stimulus being pumped into the economic system can relieve the turmoil over the next 12 to 18 months remains to be seen. However, there will clearly be some high-profile casualties along the way and, from a distressed funds’ perspective, many of the same issues that arose during the 2008 financial crisis will likely have to be grappled with again.

Whilst many fund managers will be focussing on liquidity issues in the short to medium term, the prospect of increased redemption requests may once again lead to many funds being wound down, whether by way of an orderly wind down conducted by existing management or, alternatively, via a Court supervised process.

At present, it feels that we are still in the preliminary stages of governments and large financial institutions seeking to react to this rapidly changing landscape and few people could have envisaged the market volatility that we are now seeing on a day to day basis, with interest rates and oil prices reaching record lows and state backed financial stimulus initiatives massively increasing the role of big government in most capitalist economies. Therefore, whilst there can be no doubt that we will see a significant increase in distressed situations during 2020, the scale of the crisis faced by the global economy may not become clear for some time.

It may also be the case that businesses in certain industries or sectors will survive in the short term by significantly stripping back their operations and working with financial institutions and lenders to seek to maintain cash flow. However, in the absence of a strong rebound in consumer confidence and consumption, my view is that we are likely to see various waves of corporate restructurings and insolvencies for some time to come.

Grant: The obvious answer is we are expecting an increase in pandemic caused restructurings and insolvencies. There is extreme volatility in capital markets and widespread concerns around the pricing of assets. Add to this the oil production and price wars, where low prices are expected to continue for some time due to the oversupply and decreased demand.

We are in a preliminary stage of economic shock and companies are having to make difficult decisions. The situation remains fluid, and the global markets are unsettled and investors are very reactive to the evolving circumstances. As liquidity issues proliferate, we are seeing unprecedented relief being provided by governments, taking measures aimed at providing debtors the benefit of the doubt given the unforeseen economic forces that are out of their control.

But while these measures might maintain the economy on life support, they are not long-term solutions, and the global economy continues to shrink while in many countries the shock from the coronavirus has not peaked.

Only time will reveal the extent of the structural damage triggered by COVID-19 to elements of the economy and whether or not government intervention is simply delaying the inevitable for some companies.

We are all hopeful that the coronavirus crisis comes to an end quickly, but it is clear that companies on a global scale are in the midst of a very challenging time and significant damage has already been inflicted which will have to be remediated.

In Your Opinion, How Well-Positioned are Funds to Withstand Economic Turmoil? Any Particular Areas of Strength or Weakness?

Grant: There have been and will continue to be winners and losers in the fund industry. The coronavirus crisis will certainly evidence which managers can survive or even thrive on the ensuing volatility, and which cannot. The funds managed by those that cannot will be unlikely to survive in the medium term as investors seek to cut their losses and redeem their interests.

Early indicators show a wide spread in performance across the hedge fund industry and within strategies. The ability of a hedge fund to do well in these uncertain times will largely depend upon the steps taken by managers to protect funds from the instability in the market, as well as their ability to make investments that capitalize on market turmoil. Certain fund strategies will thrive in this environment and others might suffer.

For private equity, there are obvious industries that are expected to do well, such as healthcare, pharmaceuticals, and telecommunication. Utilities are better positioned then most industries as well, though they also may be exposed to decreased demand and delinquent customers. Then there are various industries that are suffering most, such as transportation, tourism, food and hospitality, manufacturing and construction, just to name a few. Funds that hold significant investments in these struggling industries are going to experience losses.

There are some hedge funds that are raising capital to try and capitalize on opportunities in the current market dislocation. And reports say there are also a number of private equity firms that have stockpiled cash due to the previously rising markets and the difficulties in finding good investment opportunities. Reports say this “dry powder” is at record levels, and these firms are no doubt looking to take advantage of investment opportunities resulting from the pullback on asset valuations.

Peter: Although commentators and analysts were increasingly forming the view that global stock markets were overvalued and that a market correction was likely to occur in 2020, the scale of market volatility seen in recent weeks is largely unprecedented and was unlikely to have been foreseen by many of even the most experienced fund managers.

However, whilst some sectors (for example, aviation, travel and retail) have undoubtedly been severely impacted by the closing of borders and increased social distancing measures being imposed on a global scale, other sectors (for example, pharmaceuticals and certain commodities) have undoubtedly fared better in the current climate.

Notwithstanding a fund’s exposure to certain sectors and geographic markets, a manager’s ability to maintain liquidity and to continue to meet the fund’s investment objectives will largely depend on the tools available to it for the purpose of controlling redemptions (whether via a gating mechanism, a suspension of redemptions or a side-pocketing of illiquid investments). In addition, it will be critical for fund managers to maintain an open dialogue with investors and to demonstrate a clear strategy for navigating the current volatility.

Some managers are considering restructuring funds or offering new classes of interests with different liquidity and other terms. Depending on the fund structure, there may be circumstances which require increased capital calls from investors.

There will also be a number of well capitalised funds who will see a wide range of opportunities and value in the market and who may seek to increase their positions in certain industries or sectors, whether through the primary or secondary markets. Much will depend on the particular trading strategies which are in place.

How Does the Current Environment Differ to the 2008-09 Crisis?

Peter: This is undoubtedly the biggest challenge faced by the global economy since the 2008-09 crisis, however, both the scale and underlying causes of the present crisis are in many ways unique.

In particular, whilst the 2008-09 crisis was largely a consequence of the huge and unsustainable increase in personal indebtedness fuelled by the sub-prime mortgage crisis, the precipitous halt in global economic activity caused by COVID-19 is without parallel, causing states to close their borders and quarantine billions of people almost overnight, thereby preventing large sections of society from working and going about their daily lives in a manner that has never been seen before in peacetime.

Despite the scale of funding proposed by governments to seek to offset the economic and social disruption caused by COVID-19 already dwarfing the funding provided during the 2008-09 crisis, it is already unclear if the amounts pledged by governments will be sufficient to allow economies to avoid the most serious consequences of a deep recession.

Clearly, the primary goal of any government must unquestionably be to minimise the human cost of the pandemic and save lives. However, with social distancing likely to be the norm for much of 2020, the ongoing economic cost of the crisis will grow exponentially as more and more businesses are forced to close or downsize and consumer demand remains subdued. How quickly governments can safely and effectively redeploy and reengage large sections of the workforce in order to get their economies moving again remains to be seen.

Whilst it is therefore difficult to predict with any certainty what the ultimate economic consequences of COVID-19 will be, it is apparent that a massive and coordinated global stimulus initiative will be required in the long term to allow economies to recover and limit the social turmoil arising from this crisis. How long such initiatives will take to bear fruit remains to be seen.

Grant: I think it is easy to look at the current environment and think it seems familiar to what was experienced in the financial markets during the 2008-09 financial crisis.

However, the triggers to these crises are very different, and it is therefore very difficult to draw parallels, or to use 2008-09 as a predictor of how the global economy will emerge from 2020.

The 2008-09 financial crisis caused a recession due to systematic failures in the financial markets. This was the result of years of missteps and festering issues, primarily stemming from the significant and reckless lending by banks to subprime borrowers.

What we are going through now was not caused by issues in the economy, it’s been triggered by a pandemic. This is more comparable to a downturn caused by a natural disaster than a financial disaster. Following a natural disaster, businesses and lenders are usually better positioned to bounce back and recover compared to the disruption caused by a financial disaster. However, there are some significant differences in the economic shock caused by a natural disaster compared to those being caused by the coronavirus. Primarily, the uncertainty in the amount of time it will take to overcome the coronavirus and for the global economy to stabilize. So, we do not know the extent of the shock or how the path towards recovery looks.

It is possible, however, that the proliferation of issues being caused by the coronavirus will reveal or accelerate further cracks in the financial markets and regulators and investors around the world must be ready to respond.

In Your Opinion, Will There be Any Particular Types of Fund Strategies That Will Be Vulnerable to the Global Economic Destabilization Being Given Rise to by the COVID-19 Pandemic?

Grant: COVID-19 is driving market volatility and, in many instances, material changes in asset valuation on a daily basis. This may change how some managers run their investment operations. Some managers will have considered how to reposition investment portfolios and will reassure investors that the firm is managing through the volatility.

I think the response to the economic turmoil is different depending upon the type of fund we are talking about, hedge funds or private equity funds.

The rule of thumb for most hedge funds is to make money despite volatility in the market and to protect investors’ capital in a downturn. That said, there will be some hedge funds that have used leverage to try and enhance returns but have not adequately applied hedging strategies, and declining asset values will amplify losses and create some real liquidity problems in trying to manage their margin and collateral requirements.

Reports from February showed that the hedge fund industry was successfully preserving investor capital, with the average hedge fund losing only 1.46% in February according to Hedge Fund Research. However, early indications are that March has been a more challenging month.

For private equity funds, the impact might be even more significant. There are funds that have been patiently waiting to deploy capital, and the current market will present plenty of opportunities to invest in undervalued or distressed assets. For other funds, the low cost of debt over the past decade has resulted in private equity funds holding positions in highly indebted companies due to the use of leveraged loans. As the economy contracts, asset values drop, which will translate to losses for many private equity funds. In the short term, governments and banks may provide access to credit and other financial relief, but if the coronavirus crisis continues for an extended period of time, valuations of companies may not recover quickly, certainly not in all sectors, and refinancing will become very challenging.

Late stage PE funds that were expecting to monetize investments in companies that have been hit hard by the disruption caused by the coronavirus will be considering their alternatives, such as extending the realization timeline of its investments. Then there will be the early stage PE funds that will have invested in assets whose values have dropped significantly, and it might take a long time to recoup these losses.

Peter: Funds with highly concentrated investment portfolios in certain sectors may be susceptible to large scale losses.

Similarly, investment managers and directors who have failed to invest in accordance with a fund’s stated investment objectives could potentially be subject to claims from dissatisfied investors (albeit that such investment objectives or mandates are typically very broad).

In addition, funds that are unable to impose restrictions or limitations on substantial outflows of capital in the short term will likely experience liquidity issues, particularly if the fund’s underlying investments are comprised of largely illiquid assets with no easily ascertainable market value. Fund managers and directors should therefore be taking a pro-active approach to preserving a fund’s value and engaging with investors in a transparent manner when developing a strategy to respond to the current turbulence in the markets.

Do You Foresee Debt Holders Looking to Restructure/Swap for Now-Cheapened Equity?

Peter: Debt for equity swaps are one of the numerous strategies that will be considered by debt holders in a distressed situation and will likely depend on the parties’ respective bargaining positions.

As noted, there are a number of well capitalised funds whose investment profiles will lend themselves to taking a long-term equity position in entities which now appear under-valued. Such strategies may also be adopted by large institutional investors seeking to exert control over an entity by building an equity stake and leveraging that position to exert control over the future strategic direction of the target entity.

Conversely, companies seeking to restructure their affairs may seek to vary or cram down existing debtholders by implementing a scheme of arrangement, the practical effect of which could be to convert an existing creditor’s rights to equity.

At a macro level, a direct consequence of increased government bailouts may be the nationalisation (whether in whole or part) of certain strategic sectors (for example airlines). As was the case following the 2008-09 crisis, the taxpayer may therefore end up owning an ever increasing and broad range of state backed assets, with little prospect of such assets being realised in the short to medium term.

Grant: A debt to equity swap is a restructuring alternative to eliminate the liabilities of a company and improve its liquidity. So if a company is distressed, a debt to equity swap might be attractive to a lender instead of forcing a company into insolvency. This might be a particularly attractive approach when a company is undervalued or is expanding but facing liquidity issues, as it will allow the company to continue as a going concern and the former lender will participate in the future growth of the company.

However, there is currently a lot of highly indebted companies due to the excessive use of leveraged loans over the past decade. Further, the global economic outlook does not look positive, the markets are volatile, and there is no clear timeline of when the coronavirus will be under control. So some lenders may be reluctant to swap their preferred debt position for equity with the uncertain future. Of course there may be circumstances where a low priority lender has no better alternative, and no doubt there will be a multitude of approaches explored to help companies survive in the current environment.

Do You See Any Larger Implications for the Macro Economy?

Grant: The coronavirus pandemic is negatively impacting large sectors of the macroeconomic environment at an alarming pace. While this is true for the global economy, as matters progress I do think the economic disruption and impact of the coronavirus will vary across geographies. The financial measures and the policy innovation of some governments will be more successful than others, and we must also factor in the different degrees of medical infrastructure and the effectiveness of a government’s response to the coronavirus from country-to-country. So I think the economies of certain countries will be more resilient than others.

Regardless of where we are headed, much damage has already been inflicted, and the economic impact of the current crisis and its aftermath will take months, if not years to play out. One thing that is certain is insolvency and restructuring practitioners around the world will play a vital role in the eventual recovery.

Peter: The pace of change to previously established behavioural norms and working practices over the past four to six weeks has been unprecedented. Industry change had already begun in legal services, for example, namely in terms of technology and automation, but COVID-19 will accelerate the pace of transformation. There is no doubt that such changes will have a profound impact on the legal services industry as well as the macro economy for a considerable time to come.

The widespread adoption of social distancing, the abrupt halt in both domestic and international business and leisure travel, the decline in business confidence and investment and the potentially long-term social impact caused by mass unemployment and ongoing health concerns have already caused, and will continue to cause, a significant shift in global economic activity.

Whether the increased role of national governments in seeking to stimulate the global economy will lead to long term shifts in the manner in which traditionally free market economies have functioned remains to be seen. However, there is no doubt that many of the initiatives now being implemented at the request of the financial sector – such as the bailing out and nationalisation of key sectors, and the provision of guaranteed levels of income to large swathes of the population – would have been unthinkable even a few months ago.

There is now a growing consensus that all of the world’s major economies are entering a deep and potentially prolonged recession. This will lead to an increased amount of restructuring and insolvency mandates for IPs globally and the fallout from the present crisis will likely take a number of years to work through.

However, we have seen that markets have bounced back from previous crises, and that previous recoveries have been quicker and stronger than anticipated. Clearly, the challenge for governments going forward is to implement a response to COVID-19 that will allow consumer confidence, and economic activity to recover as quickly as possible, without reintroducing undue risk to populations.

What are the Pitfalls of Pressing Pause on your Job Search Now?

Fri, 27 Mar 2020 10:20:43 GMT

During periods of economic uncertainty, conservatism among job seekers generally increases. Many candidates halt their job search in murky times as the tendency is toward risk aversion. Counterintuitively, this is precisely the opposite approach you should be taking.

Don’t Pause Your Job Search, Seize the Opportunity.

Instead of following the herd, you should take an aggressive approach to the market. Think of Warren Buffett’s value investing approach in this scenario – while other investors are hoarding cash and cowering in fear, he is out evaluating opportunity to be gobbled up at a discount to its intrinsic value.

“Be greedy when others are fearful” – Warren Buffett

In this scenario, career advancement represents a value play as fundamentally there is less competition from your risk-averse peers who have pulled back their chips from the table (if you’ll excuse the mixed metaphor!). This is particularly true in a professional services sphere where demand for services is perhaps only increased during a period of volatility as opposed to more elastic goods and services that are perhaps even inaccessible.

Smart job seekers look at the opportunity ahead of them and take advantage of the circumstance to get ahead of the competition.

Get Ahead of the Competition.

Your competitors are cutting their job search down, so it is prime time for you to be reaching out to recruiters and hiring managers, getting your foot in the door and positioning yourself to be top of mind when the floodgates open.
Companies haven’t stopped hiring; HR Managers may have a few other things on their plates at the moment, like getting the logistics of virtual on-boarding figured out, but rest assured many employers are still actively recruiting for top talent.

Even if companies have paused filling open roles to attend to urgent health and safety matters, they will be backlogged to find great people in the very near future. For senior-level and executive roles, it can take anywhere from three months on up to three years to find the right career move. If you stop your search now and wait, how far behind the competition will you be if you hadn’t paused your search?

Ready to make the move and kickstart your job search now while the market is just right? Reach out to financial services recruitment team lead, Will Koutney , at william.koutney@cml.ky for a confidential conversation.

Offshore Legal Jobs Frequently Asked Questions

Fri, 28 Feb 2020 10:40:25 GMT

If you’re looking for an exciting legal career, and are considering offshore legal jobs, CML Offshore Recruitment is the number one specialist offshore recruitment consultancy for lawyers and barristers.

Nobody understands the offshore market like CML, that’s not just something we like to say, it’s true. Our consultants aren’t just experienced legal recruitment professionals, but are professionally qualified lawyers just like you, with diverse offshore experience and unrivalled market knowledge. All of our consultants have lived and worked offshore making them ideally placed to advise you on every aspect of your first, or next offshore move.

If you are looking to move offshore and aren’t sure which jurisdiction might be best for you , check out our blog outlining some of the key differences you’ll experience in lifestyle and career in some of the top offshore locations.

Q: What can I expect to earn working with an offshore law firm?

Smart job seekers look at the opportunity ahead of them and take advantage of the circumstance to get ahead of the competition.

Get Ahead of the Competition.

A: This depends wholly on the jurisdiction, the firm you join and your level of PQE.

In the Channel Islands, associates at the leading firms can expect to earn salaries in line with their contemporaries at silver circle firms in London. Further afield in the Cayman Islands, Bermuda, and the British Virgin Islands, associate salaries with the leading firms can exceed those at Magic Circle and top-tier US firms in London.

The remuneration structure in the offshore market varies from firm to firm. Generally speaking, offshore lawyers are paid a generous base salary plus a discretionary bonus but some firms offer a more modest base salary plus commission on billings.

A huge incentive for most lawyers considering a move offshore is the significant reduction in income tax. Rates vary from jurisdiction to jurisdiction and so does the cost of living.

Income tax rates for the major offshore financial centres

Cayman Islands – 0%
Bermuda – 4.75% (some employers will cover this)
BVI – 8%
Channel Islands – 20%
Hong Kong – circa 15%

Read more on remuneration for lawyers in the Cayman Islands here , as we break down typical compensation, relocation and benefits packages.

Q: How much experience (PQE) do I need for offshore legal jobs?

A: In short, the PQE requirements vary in each jurisdiction.

Cayman Islands: You are legally required to have 3 years PQE in order to practice as a lawyer. Most of the major law firms will interview candidates at the 2.5PQE mark with a view to employing them shortly after their 3PQE anniversary.

BVI: No legal requirement regarding PQE but most firms look for a minimum of 2 years of experience.

Bermuda: Again no legal requirement but it is very rare for firms to hire ex-pat lawyers with fewer than 5 years PQE.

Offshore firms in other jurisdictions such as the Channel Islands, Hong Kong and Singapore will consider lawyers from NQ level upwards so long as your training contract experience is relevant to the opportunity.

Q: Are there jurisdiction-related restrictions on my ability to practice as an offshore lawyer?

A: In order to practice law in the Cayman Islands and Bermuda you must be admitted and have practised in a commonwealth jurisdiction for the requisite number of years mentioned above. The majority of the ex-pat lawyers in the Cayman Islands and Bermuda come from the UK, Canada, Australia, New Zealand and South Africa.

To practice in the BVI , you must be admitted as a solicitor or barrister in England & Wales so the vast majority of ex-pat lawyers in BVI tend to come directly from the UK or other offshore jurisdictions.

In the Channel Islands , you are permitted to practice as a lawyer so long as you have commonwealth experience. However, those with long-term plans to live in the Channel Islands may also wish to gain admittance to the local bar. In order to become ‘Jersey qualified,’ you must have practised law on the island for two years and then sit a set of six exams. To become ‘Guernsey qualified’ you must have practised law on the island for three years and then sit a series of exams.

Q: How do the working hours at offshore firms compare with onshore firms?

A: This varies from firm to firm and from jurisdiction to jurisdiction but you should not assume that life in the office will be more relaxed than in your present position, contrary to what you may believe we don’t all work from the beach.

The main difference with offshore work is the need to handle multiple matters simultaneously, which can be a big change for lawyers accustomed to working on one deal for months at a time. There are also specific demands placed on offshore lawyers that may not be immediately apparent to those coming from a big city environment, in particular, the emphasis on legal analysis rather than transaction management. Notwithstanding this, working hours are generally more predictable offshore and billable targets, whilst similar to those at leading onshore firms, can be achieved more easily in a normal working day. Couple this with incredibly short commutes and working life as an offshore lawyer should in most cases seem far less stressful.

Q: What are the immigration requirements for offshore legal jobs?

A: Cayman, BVI, and Bermuda require non-citizens to have work permits, which must be obtained by the employer on the basis of a specific job. With regard to relocating with a partner or spouse, a legal spouse can be classified as a dependent on their partner’s work permit in order to reside on island. They are also legally permitted to search for work as a ‘dependant’ on their spouse’s permit. Unmarried partners are not permitted to reside without having a job and permit of their own.

In the Channel Islands, work permits are not required for UK passport holders. Commonwealth citizens may be exempt if they qualify for a UK ancestry visa and all other professionals will need to obtain a ‘Skilled Worker Visa’.

For more information on offshore legal jobs , please send a copy of your CV to Graham Blyth at graham.blyth@cml.ky

Remuneration for Lawyers in Cayman

Wed, 29 Jan 2020 10:55:23 GMT

Money isn’t everything, but when you’re considering relocating, remuneration is always going to be one of the first questions you think about so you can make an informed decision on if this will be the right fit for you and your unique situation.

For more information about what to expect as an offshore lawyer, please read our FAQ’s .

Myriad of Remuneration Structures

Unfortunately, the answer isn’t as cut and dry as you’d wish, as one of the noticeable features of the legal job market in Cayman is the myriad of remuneration structures that abound between the law firms operating here, which can make it difficult when advising candidates onshore as to what earnings they are likely to achieve should they choose to relocate and work here.

Typically the remuneration structure used by the large law firms in Cayman will fall into one of two camps:

1. A basic salary according to the individual’s level of post-qualification experience (ranging from circa $80,000 at the newly- qualified level right up to $250,000 at the managing associate level) plus either:

1. A percentage of fees billed and collected over certain thresholds (effectively commission).

2. Typically no commission is paid until a certain billing level is achieved and then higher percentages of the

2. A discretionary bonus based on a number of factors such as individual performance, contribution to the team, contribution to marketing, the overall performance of the firm. In some firms, this bonus may be subject to an upper limit and be equivalent to a fixed percentage of salary.

To make it even more complicated, some firms employ a variant on the two structures whereby they pay a basic salary plus commission on fees billed and collected over certain thresholds plus a discretionary bonus which is paid as a percentage of fees billed and collected over a certain threshold.

General Rule of Thumb For Remuneration for Lawyers

As a general rule, a UK lawyer coming to Cayman can expect to earn at least the same amount in dollars as they are earning in sterling in the UK but obviously, the big difference is that in Cayman they will not be paying any income tax. In some cases, earnings can be considerably higher than in the UK, even after taking the absence of income tax into account.

For example, high-performing associates at some large firms in Cayman can achieve total earnings of up to $500,000, or more, tax-free, which would attract envious glances from even Equity Partners at a lot of the mid-sized London firms and which are even comparable to earnings of junior Equity Partners at some of the very largest and most profitable London firms, since $500,000 tax-free is equivalent to some £500,000 gross in the UK.

Relocation Packages

By way of a relocation package, firms will typically pay for flights and the first month’s accommodation for the candidate and his dependants plus a sum towards shipping their goods to Cayman to help in the move. Benefits Package.

By way of benefits, packages vary from firm to firm, but candidates will usually as a minimum have half or all of their private health contributions paid by the firm, sometimes for their whole family, plus pension contributions equivalent to 5% of their salary paid by the firm at a minimum.

For more information about what to expect working as a lawyer in the Cayman Islands, please reach out to Graham Blyth at graham.blyth@cml.ky for a confidential conversation. If you’re considering which offshore jurisdiction might be best for you, check out our blog where we discuss some of the key differences between the main offshore jurisdictions that we recruit.

The Surprising Benefits of Highly-Skilled, Ad-Hoc Labour

Fri, 13 Dec 2019 11:07:27 GMT

This article is meant to shed some light on an occasionally mystifying purpose for employing what is often referred to as temporary, contract, or ad-hoc labour.

What is Ad-Hoc Labour?

Before we get started, let’s define ad-hoc labour in the classic sense: Labor performed or done for a particular purpose only.

And in the colloquial sense (my definition as a participant in the human resources industry): An arrangement by which a company obtains temporary labour from a contractor who is, under the law, employed by a third-party agency.

The Benefits of Ad-Hoc Labour

This may seem counter-intuitive, but this type of arrangement can be beneficial to both the company and the contractor .

For the Employer

A contracted employee can add value in many ways. The first, and most obvious, solution a contractor can add is by filling in for technical or demanding roles that have been suddenly vacated due to an illness, maternity, or unforeseen resignation. This is simply a matter of logistics as the ability to bring on new, permanent staff quickly can be hampered by notice periods, relocation challenges, or gardening leave/cooling-off periods.

Derek O’Toole, Director of Finance for Silver Wheaton and former ad-hoc employee, notes that “ undoubtedly the principal benefit of hiring a temporary staff member is the ability to gauge their capabilities and how they fit in with the organization – something that can be difficult to judge in a standard interview setting .” This adds to the notion that there can be serious potential downside risk avoidance in the often murky waters of making hiring decisions.

A contractor can also offer the employer the ability to bring on staff into a new role that they believe will either add revenue or create organizational value. Imagine a scenario where management believes market share is being lost to a competitor due to lack of capacity, or the converse where management is preoccupied with administrative duties, causing them to ignore key clients or revenue streams. This has the benefit of very quickly applying true market forces that will flesh out just how much value the added position really adds. A net benefit arises to the contractor as well, which we’ll get to in a few paragraphs.

As a secondary benefit to the employer, true labour costs are more readily identified, and the hidden costs of maintaining and administering staff needs, including real costs like work permit fees and health insurance, are more directly assigned to the agency or contractor.

For the Contractor

For the individual contractor, there are a couple of tremendous benefits that are to not be underestimated. Firstly, is the ability that the unique nature of the arrangement creates for the contractor to gain an unusual amount of access to a role or company that they may ordinarily struggle to get a foot in the door with. Not that the contractor wouldn’t be qualified to come on with the company, but more so that they’re likely to be given a “shot” without a CV that was divined from the heavens to HR’s dream specifications. From this comes the opportunity for the contractor to take the temporary period to turn an about-face on the company to look inward and determine if this is truly the place they want to be. And if so, they are now afforded the opportunity to crank up the after-burners and prove that they are an indispensable asset.

Mr. O’Toole from our employer conversation above undertook a number of contract roles himself, weighing the proper amount or professional opportunity and ideal cultural fit, before rapidly ascending into his current position. According to Derek: “The primary benefit of undertaking a temporary role is undoubtedly the flexibility it affords you. It gives you the opportunity to try out a role and a company that you may have never previously considered. I was initially taken on as cover for a maternity leave position, and things worked out well resulting in a permanent position becoming available once mat leave finished. Had I never worked there as a contract employee, I very much doubt that I would have been in a position to be successful in my application”. It’s difficult to argue with those merits.

This has become somewhat of a contentious issue in the workforce at large, and hence politics, in recent years. Some would argue that the future of employment is very much ad-hoc, leading to a hyper-efficient global economy in which “micro” services are fluidly and seamlessly traded. Others would say regulations should work to more closely tie employees to employers in order to provide for benefits, ensuring both employees and consumers are less susceptible to corporate abuse. I’ll leave that debate for another day.

At any rate, making opportunities for oneself will boil down to the same tenets it always did, good old-fashioned hard work and a can-do attitude. If you are looking to hire or start work on an ad-hoc basis, please do get in touch and we’ll chat about what opportunities are currently on the market.

5 Top Tips for Completing Cayman Islands Work Permit Applications

Wed, 20 Nov 2019 11:18:26 GMT

Completing your Cayman Islands work permit application can sometimes seem like you’re endlessly jumping through hoops, but it doesn’t have to!

It’s important not to get complacent and bear in mind the following points to prevent delays and 11th-hour stress!

5 Top Tips for Work Permit Applications

Is EVERY question completed? The application form specifically instructs you DO NOT LEAVE ANY QUESTION BLANK. If a question does not apply to you, then insert N/A for “Not Applicable” but do not leave it blank. Far too many times an application is needlessly delayed because a question has been carelessly missed.
Having said this…N/A is sometimes not a suitable answer! Although there is no specific Yes/ No box to tick, answering N/A to the question “Have you, or any dependent accompanying you, ever been charged or convicted of a criminal offence in any country?” is simply not accepted by immigration. If you have no shady criminal past to declare, answer NO or NONE.
Are you picture perfect? More applications are being turned away recently due to issues with the background colour of the passport photos. These must be white. Not magnolia, not 50 shades of grey but 100%, no doubting it, white!
Running out of space? Don’t try and squeeze all your addresses from the last 10 years into the very small space provided. It simply leads to an untidy application and a potential bad impression with the board. Type/ print the answers to questions such as these on a separate piece of plain paper and include them with the application.
Check, double-check and then check again! Obvious I know, but you would be astounded at the number of applications we receive with questions unanswered, applications unsigned, missing certificates and even entire pages missing. So, before you hand that wet-ink form over, check that all sections are completed fully, the form is signed, all answers are correct and the form is legible and neat.

Bonus tip:

Once your application is submitted for processing, don’t book your travel tickets until your application is approved. It may be tempting to take advantage of travel deals but you will lose any savings if you have to change your flight dates or spend extra nights in a hotel room. Even complete, compliant applications are sometimes deferred for internal investigations and the timeframes then change.

And when all is said and done and you’ve submitted… may the immigration gods smile upon you!

For additional tips or help with work permit applications, contact our immigration experts Denize Solomon at denize.solomon@cml.ky or Juliette Gilbert at juliette.gilbert@cml.ky to ensure continued success!

What Companies Exist in the Cayman Islands?

Mon, 11 Nov 2019 11:34:53 GMT

What sort of companies exist in Cayman and where are you likely to find employment in the professional services industries?

One of the questions I get asked most often from our Qualified Finance & Accounting candidates who are interested in making a move to Cayman is “Is my experience suitable for employment in Grand Cayman?”

Presuming you’re a qualified accountant with a reputable degree, it sounds like a simple question, but you first have to consider what type of companies exist in Grand Cayman before you can decide whether you have the right experience to make a career move here… yes, “career” move; unfortunately wanting to move out here for the beautiful beaches and the (mostly) unbroken sunshine just won’t wash as a compelling reason to employ you!

So in response to this question, I generally give the following very basic description…

The Basics About Cayman Companies

1. Cayman is an offshore financial district where financial services are the dominant sector, and as a result, it has a range of different companies.

1. These can be loosely broken down into the following categories; Funds, Trust, Captive Insurance, Reinsurance, Company Management Companies, Banking, and Directorship/Fiduciary Services. In reality, pretty much every company is different from the other, but I don’t want to over complicate things at this initial stage.

2. In addition to the financial services companies, you also have all of the ‘Big 4’ professional services firms here, as well as the so-called ‘2nd tier’ firms.

3. Then we come to the General Industries, or Commerce & Industry as I have also heard it referred to in the past. That represents a smaller proportion of the market in Cayman, but it certainly still deserves consideration.

2. Leisure & Tourism is by far the biggest sector after Financial Services in Cayman, in addition to that, there are four main Telecommunication providers, a handful of major Retail firms, about twenty-five IT firms, a few breweries and distilleries, some SME media firms, Utility companies, a very small Energy/Mining/Oil & Gas presence, and also some General Services companies.

4. The other major industries out here are Local Government/Not-for-Profit/Public sector, and also the Legal industry; the first of these sectors tends to recruit directly so not to incur recruitment fees, and the latter has a very small number of accountants working in this sector, as it’s mainly made up of lawyers and other legal professionals, so I haven’t focused on them too much here. If you are a legal professional however, read more about that industry her e .

If you believe your experience might be in line with the different companies that exist in the Cayman Islands, please reach out to Will Koutney at william.koutney@cml.ky

Ace That Tech Interview in Caribbean Paradise

Thu, 19 Sep 2019 11:55:18 GMT

The secret is starting to get out. Offshore jurisdictions, The Cayman Islands, Bermuda and the British Virgin Islands (BVI), more routinely known for their outsized financial industry are fast becoming some of the world’s hottest- if you’ll pardon the pun – technology centres.

It’s all down to the growing vibe in th e tech sector as government incentives to attract fast-growing technology companies to their shores have resulted in a sharp uptick in the number of job opportunities for experienced and qualified IT professionals; from software developers and systems architects, right across to network engineers & IT sales there are positions at nearly every level in the IT sector.

If you’ve got the skills all laid out on your CV and you are fortunate to get an interview then you’ve already nailed the hardest part. But let’s not let such a great opportunity slip by. It’s time to ace that tech interview and secure a job Offshore.

Not sure which jurisdiction is the best for your life and career goals? Check out this article which goes through some of the key differences between the different jurisdictions.

Top Tech Interview Tips for Offshore Jobs:

1. Update your GitHub Account

First things first. Get your portfolio in shape by getting your GitHub account up to date (most relevant for software candidates). Prospective employers are going to want to see your coding abilities in action so show what you can do and make sure there are plenty of links on your CV (& share with your recruiter to give to the client prior to the interview). It’s essential to showcase as many of your skills as you can and the best way to do that is to keep your account current and update it as you learn new skills & be ready to speak about these projects within your interview!

2. Spruce up your CV

I know what you’re thinking – I thought this was about interviews, not my CV? It is, but your CV should contain details of all your relevant extracurricular activities. The tech community offshore is ever-evolving, and companies are keen to see individuals who are passionate about technology both in and outside work .. Meetup group participation, tech volunteering – it’s all relevant! Be prepared to speak about this within your interview.

3. The “Why/What/How Framework” for your Tech Interview

Before an employer in Cayman, Bermuda or BVI will be ready to take a chance on you, they are going to need to be convinced that you not only have what it takes to do the job but that you’ll be able to make the transition to island life and that you will not be looking to jump back on the first plane home.

From the employer’s perspective, they are going to come across a number of suitable candidates but they will always be asking themselves if this person can make a go of things offshore. I’d definitely suggest doing plenty of research about what life is like in whichever jurisdiction you’re interviewing in (check out the guides we linked above to help with this) and rope in any friends you have there to help give you that inside track. Essentially you will need to articulate why you want to make a life in the Cayman Islands/Bermuda/BVI and if you have kids, how you think they will settle in. In my opinion, this is one of the biggest considerations so make sure you give this plenty of thought before an interview.

4. Prepare for the Panel

For a tech interview, plan for up to an hour and a half, with representatives from both the HR team as well as a number of key business units being in on your video or skype conference call; It’s far easier for a panel to assess your tech skills in this kind of setting than your personal skills so you should expect an element of probing in this direction. A good trick here is the STAR technique where for any given scenario or question you can come back with a Situation, a Task an Action and a Result so you can demonstrate how you have successfully applied yourself in that particular example.

5. Show Your Appreciation of the Underlying Tech Scene

Another aspect of how your responses to interview questions will be perceived is if you are asked about how you see your career progressing. When you are asked that question then you should really respond with an appreciation of the underlying technology scene here, which means don’t say you plan to be a manager at a major multinational tech company because those kinds of opportunities simply don’t exist here (for now at least.. who knows what the future may bring here!).

6. Look the Part for your Tech Interview

Finally, just a few words on presentation: just because it’s a long-distance video interview, don’t forget to put your best foot forward in terms of looking the part. Be presentable and professional and show you mean business.

You’ve come this far, now ace that interview and I’ll see you on the beach!

Top Tips for Landing an IT Job in Paradise

Mon, 19 Aug 2019 12:10:34 GMT

Considering an IT Job in Cayman? Look no further!

With the rapid development of the technology sector and the influx of new start-ups, leveraging on special incentives to attract fast-growing high-tech companies to this 500 square mile slice of Caribbean paradise, the growth in the technology space has created a stream of opportunities for overseas talent.

If you’ve got the right skill set it can be possible to trade your daily city commute for an idyllic life, working on a sun-drenched, tax-free island with world-class diving and water sports, and an amazing quality of life, by seizing an opportunity in Cayman’s burgeoning technology scene. If that sparks your interest then read on as we run through the top tips for securing your ideal technology job in the Cayman Islands.

Get Certified

It goes without saying that the right certifications can give you the edge in any prospective employment situation, so get them on your resume and make sure they are up to date. It could be said that this is true in most jurisdictions, but with strict permit regulations, certificates can be a deal-breaker here in Cayman. Whether you are an AWS Certified Solutions Architect, a Certified ScrumMaster or a Cisco network professional, adding the right strings to your bow will make your resume shine, so research the right certifications and get the latest versions.

Interview Situation

If you are thinking that you’ll need to drop a small fortune and fly out to the Caribbean at the drop of a hat for an interview, then don’t fret. Nearly all job interviews these days for technology jobs in Cayman are conducted either over the phone or Skype. It’s worth doing some research on the island ahead of an interview and if you happen to know someone who is working here or has done in the past, that can provide some useful background info to draw on. Most firms in the sector run a two-stage interview process, which can include a coding test via video link or a live demo on screen. In other IT centers, like Ireland, companies might set you a tech project over the course of a week, but in Cayman, everything is almost always done on the call.

Check out our article here where we talk about what to consider when you do land the interview, ensuring you leave the hiring manager no choice but to offer you the role.

Where’s the Skills Shortage

In a relatively small market like the Cayman Islands, you’ve got to understand that certain roles like desktop support are well covered by the local workforce and it’s not so common to bring in applicants from abroad. Other positions, like .NET architects or Data Engineers, are up for grabs as the talent shortage, reflective of a population pushing 70,000, means strong demand for ex-pat workers in these niche areas.

Know What You Are Getting Into

There are many good reasons to take a job in the Cayman Islands, with the wonderful climate of year-round sunshine and a tax-free salary chief among them. While some people take to Island life straight away, for others the transition can be more difficult. For my two cents, I think you should really have a reason for being here. Know that you want to be here and plan for a stay for at least two to three years. You won’t be disappointed. In addition to the island’s friendly people, there’s a great range of bars and restaurants providing excellent nightlife, while you can spend weekends lazing on pristine beaches or exploring Cayman’s natural environment, with trails, caves and heritage parks. Overall, there is plenty to keep you entertained, day or night; whether you are coming out here on your own or bringing your family, with some fabulous activities for kids.

Check out our guide to working and living in Cayman

Check out our cost of living guide for Cayman

Patience is a Virtue

Good things come to those that wait and that applies to the IT job market in Cayman. There is something of a lag between offshore and onshore and given the overall industry size, IT tends to evolve a little slower here, so there is not always going to be an opportunity in every technology at any one time. Be patient and understand that it could take up to a year (or more!) before your ideal role appears, but when it does, you’ll want to be in a position to jump on it. It’s really quite difficult to predict exactly what opportunities may come up from month to month, so it’s worth keeping a regular eye on both my LinkedIn page and the CML website to catch the very latest postings. It’s also worth appreciating that some processes and technologies may not be as up-to-date as in some big cities. Hey, we’re a small island in the Caribbean Sea, where people still say good morning to each other, but just because the technology could be two or three years behind Silicon Valley, London or Dublin, don’t let that put you off.

Be Informed

If you take one thing from this missive, then understand that Cayman is pretty different to anywhere else in the world and things won’t be quite the same as what you are used to at home. Do your research with the guides linked above or some other great resources such as the Cayman Resident and Explore Cayman, these are all good places to start. Otherwise, just pick up the phone to me for the latest inside track. I’m always happy to chat about the latest market developments and where you can fit in to be part of one of the world’s fastest-growing and dynamic technology environments.

For more information on IT jobs in Cayman, please send a copy of your CV to Claire Murray at claire.murray@cml.ky

Competency Frameworks: A New Framework for HR Success Competency Frameworks: A New Framework for HR Success

Mon, 26 Nov 2018 12:21:09 GMT

Competency frameworks are the way of the future for HR; is your organisation ready?

Ambitious companies aiming to leverage the advantages of a professional HR infrastructure are discovering in numbers that simple job descriptions for roles filled by prospective employees offer little scope for the kind of analytical treatment that can provide them with an edge in the talent management process.

Without the ability to measure improvements and crucially provide employees with some form of a marker on their own performance, basic job descriptions are being phased out in favour of more sophisticated competency frameworks, which don’t just outline the duties of a particular role but break down the skills needed to succeed in that position.

For employers, the ability to isolate the distinct competencies that are needed to fulfil various functions has meant the whole business of hiring and developing staff has become more scientific, with less left to chance in a more effective employee acquisition process. It’s also a two-way street because from the employee’s perspective there is a greater understanding of what is expected of them and with the right support, a clearer path towards development and potential promotion.

Just consider for a moment what information is contained in the vague basic requirements in a typical job description like being “hard-working” and able to “get on well under pressure” and you can immediately see the absence of any framework for metrics. Competency frameworks on the other hand are based on relevant, measurable and more specific skills and abilities.

It’s fair to say that most businesses in Cayman are somewhat behind the curve in this area, which can be important to an organisation’s future success. While many firms have no such system in place there is an appetite to gain the advantages that a tailored competency framework system can provide.

Having developed a guide to assist companies to implement guidelines for a system of competency frameworks, we have recognised a genuine desire among Cayman’s business community to emulate the kind of best practices prevalent in leading global business centres.

Typically, one might expect to set out some 15 to 20 competencies for each position. Some degree of overlap between different roles is likely, for example in an audit firm, accounting skills would probably feature in most people’s competency frameworks.

Once in place, following evaluation, levels can be used for annual reviews, in addition to a base for more targeted training, which of course helps with employee development.

Furthermore, being able to determine exactly what you need from a prospective candidate at the start of the hiring process is a major plus factor in getting the right person through the door, while new employees will know from day one what is expected of them which is something that can be clearly articulated to them.

Assigning scores or levels to each competency can also help determine what areas the employee needs to work on to achieve career progression. It’s important for the company to be able to say to its staff that we can help you progress in the firm as it helps keep employees motivated and engaged. Within the competency framework, levels would range from basic skill achievements, to average, good or excellent and companies can tailor the levels as they see fit within the firm.

The system can be applied to pretty much any industry, however, while they are not especially common in Cayman at this stage, once the concept is introduced, the interest is there and over the past 18 months we have had great success in getting these initiatives off the ground.

When the HR business starts to become more business orientated, the more you can measure the more you can start to move the needle on the key corporate objectives. As part of an all-around employee hiring and development process, competency frameworks deliver these benefits in addition to setting expectations for both staff and leadership.

Visit https://www.cml.ky/our-services/hr-consulting/ to find out more about how we can help your HR function or speak to Jakub Jahnl at jakub.jahnl@cml.ky.

HR Is Getting Attention In The Boardroom

Thu, 08 Nov 2018 11:28:03 GMT

The HR function is getting more attention in the boardroom, amid a new commercial awareness of the business side of hiring staff and keeping them contented. What had been previously seen as a more softer set of skills, has given way to number crunching and analytics as HR executives start to demonstrate their value and how they are contributing to the business revenue.

The theory is pretty basic in that if you can increase employee engagement, it follows that staff retention will be higher and with less turnover then production can be increased. Human Resources teams have started looking to influence this equation through the adoption of employee rewards programs by partnering with local businesses and provide rewards on a monthly or annual basis. It’s a win-win all round as the businesses offer discounts while promoting their brand and happy, rewarded staff are more engaged and more productive.

Various methods are used to track employee productivity, which by necessity becomes more of a focus, as HR becomes more commercialised. Taking employee salary and onboarding costs along with training and development into account, savvy HR managers are demonstrating increases in revenue, new client generation or a reduction in errors.

In order to achieve greater professionalism in the HR function, a trend toward outsourcing has been evident. This can involve the full range of HR services from onboarding and drafting internal policies to staying compliant with regulations and the related task of producing employee handbooks. It’s often worth spending the time here to make sure the handbooks are user-friendly and jargon-free, so that staff can actually understand them and know what they are getting from their employers.

In addition to outsourcing the onboarding process, there has been notable interest in both salary administration and related market analysis over pay rates, in order to make sure offers are attractive to potential employees. Other related activities, in line with the trend to engage and motivate staff, including employee satisfaction surveys, bringing more data to the picture, as well as other benefits and corporate wellness programs such as gym membership.

Bringing a greater degree of professionalism to the HR department also includes getting a better handle on safety procedures. Many companies simply don’t recognise the importance of proper health and safety protocols and operating in the Caribbean also brings the need to be ready for hurricanes with a robust preparedness policy.

Cutting-edge software applications can help improve HR operations as well as increase efficiency in the department. Technology solutions like BambooHR are both simple to deploy and user-friendly for staff to update. Keeping employee files all in one place, recording absence and providing an approval mechanism for time off through such systems is effective and transparent, offering significant business benefits.

Introducing a level of professionalism in the HR unit will not just help set expectations in this regard but can be the key to a happy, stable and productive workforce.

Visit https://www.cml.ky/our-services/hr-consulting/ to find out more about how we can help your HR function or speak to Jakub Jahnl at jakub.jahnl@cml.ky

The Cayman Islands moves to the top of the offshore rankings

Mon, 28 Sep 2015 11:40:20 GMT

Much hard work from the dedicated workforce of the Cayman Islands has contributed to an improved ranking for Cayman in the latest Global Financial Centres Index. Cayman has moved up five places to #34 in the widely quoted index for ranking financial centres.

Best of all, Cayman ranks as #1 among all offshore jurisdictions which is the key indicator of competitiveness for similar regulatory and business offerings. There is more work to be done in terms of competing in all sectors that fall under the general financial services banner, but this lofty ranking should lend both encouragement and confidence to those practicing and transacting in the Cayman Islands.

See the full article here: http://www.blglobal.co.uk/BusinessNews.aspx?id=cayman-islands-top-offshore-centre-in-latest-gfci-index

For more information on the GFCI:

https://en.wikipedia.org/wiki/Global_Financial_Centres_Index

Discrimination law: UK vs Cayman

Mon, 13 Jul 2015 12:03:02 GMT

Anyone interested in eliminating employment discrimination in Cayman should read this account of an appeals case in the UK about an alleged case of racial discrimination.

Okay, done that? Really? All of it? Well go back, click the link and read it!

What I find interesting about this piece is the degree of sophistication in the language used to talk about discrimination in the UK which seems to be pretty much lacking in our system for dealing with discrimination cases here in Cayman. Consider the following:

Indirect discrimination is a practice, policy or rule which applies to everyone in the same way, but it has a worse effect on some people than others. The UK Equality Act says it puts you at a particular disadvantage.

A PCP is a “provision, criteria, or practice” resulting in indirect discrimination.

In fact, take a look at this page which gives an overview of UK discrimination law as contained in the UK Equality Act .

Here, by contrast, is the relevant extract from our current Labour Law (2011):

80. (1) No person (whether an employer or an employee) shall discriminate with respect to any person’s hire, promotion, dismissal, tenure, wages, hours or other conditions of employment, by reason of race, colour, creed, sex, pregnancy or any reason connected with pregnancy, age, mental or physical disability (provided their ability to perform the job is not impaired), political belief or the exercise of any rights under this or any other Law.

Now, while I’m no legal scholar, there does seem to be something of a gulf between the laws of the two lands on this issue. (To be fair, gender discrimination, which has its own law, is an exception).

I have long argued that much of the disillusionment with the Cayman Islands Immigration system among Caymanians is due to something of an expectation gap whereby Caymanians believe the system should somehow protect them from discrimination, when in fact that is not explicitly in the department’s mandate. Nor does the current process involve enough inspection of a company’s hiring process (nor any formal protocols for whistleblowing on the part of the unsuccessful candidate) that would enable the immigration authorities to detect discrimination where it exists.

Nor, in fact, is it even clear to whom you would report suspected (or actual) discrimination were you to fall victim to it, nor what would be done about it. (The Department of Labour and Pensions presumably, which does not appear to have a website).

The current consultation draft of the new Labour Relations Bill upgrades the language slightly, as follows.

86. (1) No person (whether an employer or an employee) shall discriminate with respect to any person’s hire, promotion, dismissal, tenure, wages, hours or other conditions of employment, by reason of sex, race, colour, language, religion, political or other opinion, national or social origin, association with a national minority, age, mental impairment or physical disability (provided that ability to perform the job is not impaired), pregnancy or any reason connected with pregnancy, property, birth or other status, except that where preference is given to a Caymanian in relation to hiring, such preference shall not be regarded as discriminatory.

In my view, were Cayman to significantly improve its legal framework and enforcement apparatus around discrimination and to educate the public as to what represents discrimination (in all the various forms outlined by the UK Equality Act) and what does not, and what evidence is required in each case, this would go a long way to assuaging some of the ire currently directed by Caymanians at the immigration process.

Of course this would need to be accompanied by a timely adjudication process that allowed both sides to be heard and entitled all parties to a fair hearing, with the backing of the courts for appeals, not to mention a process of educating employers on best practice to avoid any unintentional discrimination in their hiring process.

Either employers would be forced to clean up their act and end practices that discriminate (whether deliberately or unwittingly) against Caymanians, or a competent authority would have to rule in favor of the employer and outline in detail why the circumstances did not constitute (or the evidence did not demonstrate) discrimination on the part of the employer. Either way, everyone would know where they stood, and that justice was attainable.

While discrimination may be very difficult to eliminate altogether, as the UK rules show, there is a lot more that can be done.

The three common recruitment mistakes nearly all companies make at some point companies make at some point

Fri, 05 Sep 2014 12:17:32 GMT

Below is a tiny snippet based on our upcoming workshop HR is the new IT .

Okay, done that? Really? All of it? Well go back, click the link and read it!

(N.B. It would not surprise me if the below seems obvious to you if you are a seasoned HR professional. Remember, the HR is the new IT workshop is aimed at non-HR team leaders, managers and executives).

Mistake #1 – Becoming emotionally attached to a candidate.

We’ve all been there. You’re interviewing someone you really feel an emotional connection with. It may be because you can sense the greatness in them the tests and employer references failed to reveal, it may be because he or she is a single parent that has suffered a spirit-crushing run of bad luck. The thing is that neither one is a good reason to employ someone. And chances are we may become the latest post script in their string of “bad luck”. Sympathy is not a good reason to hire someone but because we are all human beings, we have all fallen into this trap at one time or another (there, I said it).

Mistake #2 – Not defining a timeline around our operational need.

Chances are, we wouldn’t be hiring someone if there wasn’t some extra work to be done. Perhaps someone resigned. Perhaps we won a new client or took on a new project. Whatever the reason, we need an extra pair of hands and we know roughly when we need it. In other words we have an “ideal start date” to work towards.

Between now and this faceless-pair-of-hands’ start date, there is much to be done: job description, advertisement, interviews, assessments, offer letters, negotiations, the lucky candidate’s notice period, immigration (possibly), on-boarding and a handover period. Whew. (And to save space, I missed out a few important steps!)

We have a rough idea how long each of these steps typically takes. If we add up all that time and add that to the current date, will it match the ideal start date? Unless we define the timeline as soon as the need has been agreed, we will never know! The answer may only be clear in hindsight, one or two weeks (or even months) after the ideal start date has passed! Again, don’t worry, we’ve all been there.

(Incidentally, we have a great, free and easy tool for clients that can help planning timelines for recruitment projects).

Mistake #3 – Undermining our employer brand.

No matter how we have defined our ideal candidate, the greater the number of qualified applicants we attract, the better a candidate we will be likely to end up with. This is a matter of mathematical fact.

So let’s be clear, we want people to apply and we want people that really want to work for us. A candidates’ perception of our company as a potential employer matters, and it matters more every year due to the shifting expectations of employees, from boomers and Gen X’ers to Gen Y’ers and… whatever the next cohort is called!

Remember that the application and assessment process may be the very first interaction a candidate has ever had with our company. Regardless how familiar you are as an employee or owner, the candidate is likely at the other end of the spectrum, having little or no knowledge of the company. (If you are in the hedge funds business for example, it is somewhat unlikely that the candidate has ever worked with you as a customer!). First impressions count. If you treat the candidate with professionalism, dignity and respect -acknowledging their application, giving them lots of information about the application and assessment process, a timeline for your consideration, and a timely and respectfully worded decision – chances are that they will say good things about you privately to their friends and colleagues, increasing the value of your employer brand.

If on the other hand their first experience is to be called three weeks after their application, for an interview that day, at a location they cannot find, blindsided with a difficult aptitude test, interviewed for ten minutes without any introduction to the job or the company, and ignored for six weeks till they finally follow up on the application only to be told they were not successful without any indication as to why… what do you think will have happened to your employer brand as a result?

Please feel free to leave a comment or question. If you would be interested in further information on the HR is the new IT workshop, email us today on HRisthenewIT@cmlor.com.

IT in the Caribbean – Thriving or Failing?

Thu, 03 Jul 2014 12:26:20 GMT

This is the first of perhaps many blogs which I will use to reflect my thoughts on IT recruitment in the Caribbean. Hopefully this will be beneficial for people who are interested in relocating abroad. I also wanted to share my initial thoughts on the first three months on the island.

When I was first approached about a position over in the Cayman Islands in February, there were a number of thoughts circulating in my mind about the island and how my career will benefit. It happened to come at a time when the cold and icy climate of the UK were starting to become less appealing. Needless to say it didn’t take long to be persuaded to make a life changing decision, and soon enough I was on flight BA1027 from London Heathrow to Grand Cayman.

While CML helped to provide a company house and car for four weeks which made things very comfortable, I knew I would eventually have to find my own way forward. First stop, finding a place to live. This quite fortunately became one of the most simple tasks to complete. I managed to find a house share with two people (also from the UK) for $1300 per month including bills. Did I also mention we live on the beach and have our own swimming pool and tennis court…?

What most locals will label as the “island lifestyle” is a long way from the hustle and bustle of a cramped tube ride from Paddington Station through to Oxford Circus. With Grand Cayman being so small, it eradicates the need for a lengthy commute, and instead exchanges it for a short drive parallel with Seven Mile Beach. Socially, people are very friendly and due to a large community of ex-pat professionals on the island, settling in became very easy. I have already joined multiple sports teams and managed to meet a number of like-minded people out here.

Now from a recruitment perspective I wasn’t entirely sure what to expect, bearing in mind some of the Worlds largest companies operate right here on the island.

Aesthetically the buildings are generally three stories high, surrounded by the typical tropical image of palm trees. What I quickly came to terms with was that the market is vibrant in what can only be described as a candidate-driven environment.

My professional quest is to hire country-based IT professionals, whether that be in Cayman, Bermuda, BVI, Bahamas, Jersey etc. Failing that, the next step is looking offshore. Now that may seem like an easy job right? Let’s ask fifty people if they want to change their busy London/New York lifestyle for one in the Caribbean, we all know what the majority will say..

While I have so far successfully pursued in attracting the some exceptional candidates, I’m sure there are still many stones so far unturned. Right now we have a number of interviews with a handful of clients across the Caribbean which is a fair reflection of the market over here. Certainly software developers (C#, Asp.net, MVC, SQL) and network engineers (VMWare, Cisco, Virtualization) are both very prominent positions in the market which we will be looking to capitilise on in the short term future.

Companies throughout a variety of industries are readily waiting for strong candidates to take up an interest in making a similar move as myself.

I will try and use this weekly blog as a way of reflecting the IT market from a recruitment prospective. If you have any questions, or want to send across your resume then I’ll be happy to have a discussion with you.

So what are you waiting for?

Neil

How Cayman can attract entrepreneurs

Wed, 12 Feb 2014 13:27:56 GMT

Everyone knows that creating jobs is the only way for the Cayman Islands to continue to enjoy a high degree of economic success.

But how exactly does a country “create jobs”? There are actually only two ways: growth of existing companies or the attraction of new ones.

Can the government do anything to encourage or facilitate the growth of local companies? Not really. All other things being equal, local companies will only grow if demand for their products and services grows. What can the government do to affect that? (For most non-financial companies the only answer is to grow the population to provide more customers. How do you grow the population? Create jobs! Oh, back to square one).

This fascinating report from Endeavor Insight reveals the main reasons that young entrepreneurs choose the location for their business venture. Spoiler alert! Tax rates do not rank very highly as a factor. Why not, you ask? Well, tax is only an issue if you are making money. By the time a new business starts to make money and tax becomes an issue, it’s often too late to move.

So what are the biggest issues? It turns out that the two main factors leading entrepreneurs to choose a location are quality of life and access to talent. While Cayman rates very highly on quality of life, access to talent is another matter.

Do new companies in Cayman have good access to talent? In a sense, yes. If talent cannot be identified in the local population, it can be imported. However, work permit fees represent a significant additional cost, on top of the cost of relocating a worker from overseas.

Furthermore the byzantine immigration system can present unexpected hurdles to the uninitiated, even when an employer has done all they can to identify a local worker and failed. (Cayman Enterprise City allows e-Commerce and certain other types of company to avoid this expensive minefield).

Given the importance of access to talent in attracting inward investment, Cayman needs to offer something to level the playing field with competing locations. At the very least Cayman needs to waive work permit fees for new companies (ideally for a period of several years, long enough to offset the additional costs over a company’s immediate investment horizon). Even if the rest of the byzantine system remains; at least then companies that can demonstrate no Caymanians are available are not further penalized by five figure work permit fees on top of the costs of relocation.

10 Most Commonly Asked Interview Questions

Mon, 25 Nov 2013 13:50:07 GMT

I’ve reposted this helpful discussion from one of my Linked In Groups…

Source: www.cavendish-mr.org.uk

10 most frequently asked interview questions

Interview questions may vary but in essence they are all trying to establish the following:

• Your skills and experience to do the job
• Your enthusiasm and interest for the job
• Whether you will fit in

If you can answer these questions, using real-life examples to illustrate your points, then you should be able to answer most of the questions that arise including the following frequently asked questions.

2. What are your key skills/strengths?

Focus on what you know they are looking for, even if it has been a smaller part of what you have been doing to date. The job advert or person specification form will give you the information you need about their requirements.

3. What are your weaknesses?

Choose a weakness that:

• Doesn’t matter for the job e.g. languages for a UK firm.
• Is a positive e.g. “I like to make things happen and get frustrated if too long is spent sitting around discussing it without action”
• Used to be a weakness but which you have improved upon e.g. presentations

4. Why did you leave your last job?

Your answer should be positive and upbeat even if the circumstances were difficult. If you were made redundant, depersonalise it by talking about company restructuring rather than your individual circumstance. Never criticize a previous employer no matter how tempting.

5. Why do you want this job?

Your answer should reinforce why you are such a good fit for the job and then convey your enthusiasm for the role e.g.

• good match between your skills and their requirements
• interested in the product/market/sector
• company’s excellent reputation, exciting challenge etc.

Do not say (even if it’s true) that you just need a job, or you want it because it’s local.

6. Tell me about a difficult scenario at work and how you dealt with it

They are testing how you cope under pressure as well as your problem-solving and communication skills. Good examples are where you:

• helped resolve or improve a difficult situation
• were resilient in adverse conditions
• showed emotional intelligence and cool-headedness

Avoid any examples which still feel sensitive, because in a high-pressure interview situation, old emotions can easily resurface and throw you off balance.

7. Tell me about an achievement of which you are proud?

Choose work-related examples that shows a tangible benefit to the business. Personal achievements should only be included if they are very impressive or prestigious.

8. What are your career goals?

They are checking if you are likely to stay and if so, for how long. Reassure the employer that the role you are applying for fits your career plan and your longer term commitment to the company.

9. What are your salary expectations?

Salary negotiations are best handled at the job offer stage so try to avoid this at interview if you can. If forced to name a price, give a realistic but wide salary range and say that you feel that salary won’t be an issue if you decide to work together.

10. What do you know about our organization?

You need to know the following:

• Company structure, finances, products and services, key staff
• Customers and competitors
• Market trends and challenges

For more information about interviews, feel free to contact me for a chat.

Offshore law firm confirms Cayman remains M&A leader

Wed, 13 Nov 2013 05:21:13 GMT

Leading offshore law firm Appleby has released its Q3 report on the M&A activity in offshore financial centres. The Cayman Islands maintained its position as the most popular offshore jurisdiction for deal making in the third quarter of 2013.

“The Cayman Islands accounted for 39 percent of total offshore deal value in the third quarter of 2013 and its attractiveness continues to grow” said Bryan Hunter, Managing Partner of Appleby’s Cayman Islands office. “Cayman has consistently recorded the most deals of the offshore markets this year, and we’re confident it will remain the top offshore jurisdiction for dealmakers around the globe.”

The report was cautiously optimistic about a return of investor confidence, noting an even distribution of deals, an increase in the number of acquisitions and a shift of investment value from minority to majority stake purchases.

Here are some Cayman specific highlights

Cayman accounted for 26 percent of all the deals done and 39 percent of the total deal value, with 140 of the 538 offshore deals and US$13.5 billion of the $34.5 billion deal value.
The average deal size in the Cayman Islands in the third quarter was US$96.3 million, well above the overall average value of $64 million
Cayman was home to the three largest offshore transactions and four of the top five overall.
In private equity deals, the Cayman Islands attracted the biggest institutional buyout of this quarter, with Blackstone Group paying $500 million for Cayman Islands banking services software developer Pactera Technology

Report – http://www.applebyglobal.com/news-and-deals/appleby-reports-on-q3–2013-offshore-manda-activity.aspx

Cayman Compass article – http://compasscayman.com/caycompass/2013/11/13/Cayman-remains-offshore-M-A-leader/

This is very positive news from a recruitment perspective and market growth will be reflected in the leading law firms’ hiring strategies for 2014. We have already seen an upturn in demand across transactional practice areas including investment funds, finance and private equity and anticipate continued growth and demand over the next 6-12 months.

Please see below for a selection of relevant job opportunities:

Private Equity/Funds Lawyer (3PQE)
Finance/Banking Lawyer (3-4PQE)
Corporate/Funds Lawyer (3PQE)
Corporate/Funds Lawyer (5PQE)

If you are interested in exploring a move offshore and can offer the requisite number of years PQE at a leading City, international or offshore law firm as well as a strong academic track record, please make contact with Anna Jay for a confidential discussion – a.jay@cmlor.com or call +1 345 949 1345.

Cayman rated top offshore destination for expats

Tue, 05 Nov 2013 05:31:46 GMT

In a global comparison of countries conducted by HSBC’s Expat Explorer Survey for 2013 , the Cayman Islands ranked fourth out of all countries in the world when it comes to the best place for expats to thrive, beaten only by first-place China, second-place Germany, and third-place Singapore. In addition, it was ranked number one as the friendliest place in the world to live for expats.

The largest global expat survey of its kind, HSBC’s Expat Explorer Survey asked 7,000 expats questions relating to their finances, quality of life, and what it’s like to raise children abroad — all key decision-influencing issues when it comes to choosing the right overseas environment in which to live if you are an expat.

The survey highlights some important advantages that positively influence professionals from overseas making the decision to move to this jurisdiction. Often professionals who look to move overseas will have families, and so, quality of life for the entire family within the new country is of paramount importance. The Cayman Islands ranks highest for the ‘Setting Up’ criteria in the Expat Experience league tables, which means expats based here rank Cayman higher than expats from any other country. This includes a range of setting-up measures, including traveling around locally, getting used to the local culture, making friends, finding accommodation, and organising healthcare.

In addition, the survey highlighted how a higher proportion of expats (67%) agreed Cayman was an easy place to organise their finances, compared with the global average (51%). As a result, seven in ten (70%) expats in the Cayman Islands stated they enjoyed a higher quality of life — almost twice the global average (45%). The survey also indicated Cayman remains the friendliest country in the world, with eight in ten expats rating the destination as an easy place to make friends — the highest out of all countries worldwide.

The survey puts the Cayman Islands in an extremely favourable light when compared to its main rivals. Not only did Cayman reach an extremely high level when compared to other countries globally, its offshore financial centre competitors, such as Bermuda, were not even mentioned in the rankings’ tables. This confirms the Cayman Islands is in a league all of its own when it comes to choosing the right environment in which to live and work. The Cayman Islands is highly prized for its incredibly high level of quality of life for all residents, expats, and locals alike.

The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances. If you’re considering moving to the Cayman Islands, feel free to contact me or any of my colleagues for a confidential discussion.

The most important question in an interview!

Wed, 23 Oct 2013 05:44:08 GMT

Joel Peterson, Chairman of JetBlue Airways has some interesting tips on the job interview which he shared in a recent post . He explained that although it is understandably vital for a candidate to be well prepared, it can be difficult sometimes for potential employees to demonstrate just how well they are prepared. A great opportunity to show this is when they are asked by the employer – “What questions do you have?”

In Joel’s opinion this is an interviewer’s chance to find out how much research you’ve done, how self-absorbed you are, and where your priorities lie. He identifies the following as questions NOT to ask!

1. “What will my salary be?” — followed by the even worse, “And how often do you give raises?
2. “What are your policies regarding vacation, time off, and breaks?”
3. “Can you tell me about your healthcare plan? Will my spouse be covered?”

The first questions reflect a “what’s in it for me?” attitude. The second two are the types of questions more appropriate for human resources than for your valuable time with a decision-maker. There’s plenty of time to learn about these issues if an offer is made. Also you could save these questions for your recruitment agency, like CML, to find out on your behalf.

So instead of asking questions about you, Joel believes you should try asking a few questions about the company, such as:

1. “How can new employees become familiar with, and begin to contribute to, the culture you’ve developed here?
2. “What’s the most important way that your company differentiates itself from competitors?” (Focus the question on the particular industry you’re in, showing that you’re knowledgeable about the company and its sector.)
3. “What are a few of the most important challenges that the industry is facing, and how is your company going to approach them?”
4. “What might I do to add the greatest value to the business?” — followed by, “What kinds of things can I do to prepare myself for the job?”

Joel states that these questions reveal three important things: that you know the company has a unique culture; that you understand that a successful business is ultimately about offering something unique to the market, and that you’re already imagining yourself as part of a winning team. Take these comments on board the next time you are in an interview situation and you will surely make an excellent impression on the interviewer!

Lawyer Monthly’s 2013 Annual Legal Awards

Wed, 16 Oct 2013 06:36:52 GMT

The Lawyer Monthly has released its highly anticipated annual legal awards.

“These recognise the achievements of some of the most dynamic and trusted lawyers working in the profession. Each award has been selected to demonstrate just how diverse and far-reaching the profession has become. In recent years, more and more firms have evolved their services to meet client needs, provide solutions and reassure clients across the globe.

Lawyer monthly maintains a continuous dialogue with its readership providing sharp legal insight for the corporate and legal profession; this makes the Lawyer Monthly awards edition one of the most relevant and considered publications of the year.”

The Offshore Legal Awards Go To:

Bermuda Awards

Mussenden Subair Bankruptcy and Insolvency Law Firm of the Year
Isis Law Investment Funds Law Firm of the Year

BVI Awards

Maples and Calder Asset Recovery Law Firm of the Year

The Cayman Islands Awards

Codan Aircraft Registration
Mourant Ozannes Arbitration and Litigation Law Firm of the Year
Maples and Calder Asset Recovery Law Firm of the Year
Conyers Dill & Pearman Banking Law Firm of the Year
Appleby Global Capital Markets Law Firm of the year

Paget Brown Company Lawyer of the Year – Ian Paget-Brown QC

Director and Shareholder of Paget- Brown, Ian Paget-Brown QC was called to the Bar in 1968 at Lincoln’s Inn and in the Cayman Islands in 1971. He was appointed by the Cayman Islands Government as Chairman of the Cayman Islands Law Reform Commission in 2011. In August of this year, he was appointed as Queen’s Counsel following recommendations from the local judiciary that were approved by the Foreign and Commonwealth Office.

Campbells Corporate and Commercial Lawyer of the Year – Robert Searle

Robert Searle is a Partner at longstanding Cayman Islands firm Campbells. He has a particular focus on all aspects of investment fund formation and restructurings during his legal career which has spanned Australia, the UK and the Cayman Islands. He was admitted as an attorney in Cayman in 2003 and became a Partner with Campbells in 2007.
Ogier Investment Funds Lawyer of the Year
Ritch & Conolly Labour Law Firm of the Year
KRyS Global Mergers and Acquisitions

Jersey Awards

VerrasLaw Corporate & Commercial Law Firm of the Year
Appleby Global Commercial Litigation Law Firm of the Year
Spoor and Fisher Intellectual Property Law Firm of the Year

Are you a legal professional looking to make it onto this list? Reach out to our team today at info@cml.ky today to talk about taking your career offshore.

Mass exodus from the UK – The Relocation Trend

Fri, 13 Sep 2013 07:00:27 GMT

Relocation is becoming a trend: According to the UK Office of National Statistics an average of 400 Brits leave the country each day to start a new life abroad. That’s equivalent to a full Boeing 747 jumbo jet taking off, never to return!

http://www.ons.gov.uk/ons/rel/migration1/migration-statistics-quarterly-report/august-2013/index.html

The study showed that, in 2012 alone, 321,000 people left Britain and the reasons cited for relocation to another country are mixed. The majority of older expats leave for a better lifestyle and warmer climate, whilst the younger generation of deserters leave to pursue better jobs, paying more money, in growing overseas economies.

There are concerns about Britian’s brightest leaving; the research disclosed that 10% of students graduating from the universities of Oxford, Cambridge, Exeter and Durham secured overseas jobs, rising to 12% of students from St Andrew’s, Scotland.

Lower taxes, better public services, work life balance and warmer climates are enticing Brits away from the UK. The Cayman Islands, with a population of around 55,000 plays host to over 25,000 expatriates many of whom originate from Britain. Q2 reports have shown an increase in activity for the offshore financial and legal industries . . . will this result in more professionals heading for the beaches?!

The benefits for individuals who have studied in the UK to become Lawyers/ Accountants/ IT professionals, is that firms in the Overseas Territories often seek UK qualifications. Bermuda, BVI and the Cayman Islands’ Law, for example, is based on UK Law. Having a degree from a leading UK University can also be considered an advantage.

If you are interested in exploring offshore job opportunities in legal, finance or IT, please send a copy of your CV to info@cmlor.com, or click here to register and one of our consultants will contact you to discuss your options.

Positive news for the offshore legal market!

Thu, 12 Sep 2013 13:58:26 GMT

Here are some highlight findings from the report;

In the second quarter of 2013 there were 493 deals announced offshore, with a combined value of USD31.6bn. This puts the quarter slightly ahead of Q1 2013.
In Q2 2013 average deal size stood at USD64m and that figure is the same for the year to date. If this is maintained to year-end or improved, deal sizes in 2013 would be greater than they have been in at least five of the last eight years.
Finance and insurance deals continued to power the offshore M&A markets. In Q2 2013 there were 168 deals in that sector with a combined value of USD 10bn, up quite considerably on Q1 2013, when there were 147 deals in the sector worth USD6.5bn.
By average deal size the offshore region ranks third globally, behind only North America and South and Central America in Q2 2103.

Report itself – http://www.applebyglobal.com/e-marketing/offshore-i-2nd-quarter-september-2013-(summary).pdf

CNS article – http://cnsbusiness.com/content/stability-returning-offshore-markets-says-law-firm

From a recruitment perspective this is obviously fantastic news for the offshore legal market and there is definitely positivity amongst the leading law firms on hiring strategy for the next 12 months. Whilst we haven’t seen a knee jerk response and great swathes of new vacancies, we have received and are continuing to receive exciting new instructions across transactional practice areas, particularly finance and investment funds.

An overview of recent notable offshore legal moves

Thu, 12 Sep 2013 12:59:11 GMT

A quick rundown of the recent hires and moves in ChessGlobe the offshore legal market.

Walkers Global has hired a highly regarded offshore investment funds specialist, Dawn Howe who has joined the firm in London as a Partner in the Global Investment Funds Group. Howe has joined from Maples and Calder will initially be based in Walkers’ London office and will transfer to the firm’s Cayman Islands headquarters, subject to the relevant immigration requirements. “We’re particularly pleased to have someone with Dawn’s outstanding reputation join us,” said Mark Lewis – Senior Partner. “She has worked with some of the most senior figures in the investment funds industry who speak in glowing terms of both her legal ability and the quality of her work,” he added.

Howe advises upon the structuring, launch and ongoing transactions for both hedge funds and private equity funds and has advised many leading industry names. She has acknowledged expertise on cross-jurisdictional and regulatory issues affecting Cayman Islands investment funds, including issues relating to the application of AIFMD and FATCA.

At the London office, led by Managing Partner Jack Boldarin, who relocated from Walkers’ Jersey office earlier this year, she will work alongside Walkers’ London-based investment funds partners, Jasmine Amaria, Anne Forbes-Harper and Hughie Wong, as well as David Brennand, another experienced investment funds specialist who also recently joined Walkers as a Partner from Sidley Austin LLP.

This is the second senior investment funds lawyer who previously worked for Maples and Calder that Walkers has hired in the last year; in 2012 Investment Funds lawyer Melissa Lim joined Walkers as Senior Counsel in Cayman from Maples, and after an excellent year with Walkers, a spokesperson said Lim was promoted to partner this year.

Walkers said it is internationally recognised as one of the leading global offshore investment funds practitioners and on 1 March this year the readership of Hedgeweek voted Walkers ‘Best Offshore Law Firm’ in its fourth global Hedgeweek Global Awards. The honour was based on the results of the publication’s annual survey of nearly 60,000 subscribers, which sought to determine the ‘best in class’ in a range of categories, the law firm added.

Harneys has added another experienced Cayman Islands lawyer to its rapidly expanding team with the hire of senior associate Remo Dalimonthee. Remo’s arrival brings the number of Harneys lawyers practising Cayman law around the globe to 36. The firm has Cayman law experts at the partner and senior associate levels in the Caribbean, Latin America, Hong Kong, Africa and London.

Remo, who has been Cayman-qualified since 2003, has diverse language skills including fluent German and Spanish. As an investment funds specialist based in Harneys’ London office, he is well-positioned to provide timely advice to clients in the UK, Europe, Russia and beyond.

Remo’s practice focuses on investment funds (including the establishment, maintenance and restructuring of open and closed ended fund structures) and general corporate matters. He has extensive onshore and offshore experience in international capital markets, banking and structured finance (including repackagings and CLOs/CDOs). He has advised clients on AIM listed entities, Sharia compliant structures, bond issues and share buy-backs.

From 2004 to 2013 Remo practised Cayman Islands law at Solomon Harris where he split his time between the Cayman Islands, Germany and Switzerland, advising clients from Europe, Japan, China, the Middle East and Russia on a broad range of corporate, fund related and capital markets matters. Remo trained at Jones Day in London, qualifying into the Corporate Department. He subsequently worked at Allen & Overy, Cadwalader and Slaughter and May.

Earlier this summer, Partners Colin Berryman and Andrew Morehouse joined Harneys’ Cayman-based team. Both worked previously with Ogier in the Cayman Islands.

Maples and Calder announced the recruitment of Sherice Arman, who will be joining the firm’s Finance group as Counsel later this month. Ms. Arman, formerly a partner at Appleby, brings with her many years of finance related experience, particularly in ship and aircraft financing transactions and registrations. She will continue to focus on those areas as a member of Maples and Calder’s leading asset finance team in the Cayman Islands.

“We are delighted to have Sherice join us,” said partner and Global Head of Asset Finance, Mark Western, who is based in the firm’s Hong Kong office. “She is well recognised within the industry as a leading shipping expert. Bringing her on board enables Maples and Calder to further extend our asset finance reach.”

Added Richard Smith, Director-General, Civil Aviation Authority of the Cayman Islands (CAACI), “Sherice is an outstanding lawyer. She has worked tirelessly with the CAACI in its efforts to market the jurisdiction and showcase our aviation finance expertise. We are delighted to hear of her return to the market after a brief absence and look forward to working with her again in our business development initiatives.”

Maples and Calder recently co-sponsored CAACI’s signature aviation tradeshow, EBACE, in Geneva and the firm’s attorneys will be attending both the 2013 Monaco Yacht Show and the 2013 Fort Lauderdale International Boat Show as sponsor and participant of the Cayman Yacht Forum organised by the Cayman Islands Shipping Registry (CISR). Maples and Calder is also sponsoring and participating in the CISR’s Cayman Yacht Forum, to be held in London in November.

Rebecca Hume has joined global litigation boutique Kobre & Kim , which established a presence in Cayman in 2012. Hume is an experienced attorney who focuses her practice on international judgment enforcement and asset recovery, complex commercial litigation and insolvency litigation in various offshore jurisdictions. She joins from Charles Adams Ritchie & Duckworth (CARD) in Cayman, where she focused on advising and litigating on behalf of clients in regard to complex contentious insolvency and cross-border asset recovery matters.

A Lawyer’s Perspective on Relocating to Cayman

Mon, 26 Aug 2013 14:04:58 GMT

Moving to Cayman: It started with an exploratory conversation with CML’s legal consultants about potential offshore career opportunities and resulted in Tom Berry’s move to Cayman, where he has joined Mourant Ozannes ‘ Corporate practice. Below, Tom has provided an account of his experiences relocating to Cayman and transition to a life in the Caribbean.

Moving to Cayman

I boarded a plane from London to the Cayman Islands to join the corporate funds team at Mourant Ozannes.

In short, the move has been easy and I am glad to have made it. The staff at Mourant Ozannes have made the transition straightforward and have invested time in training me and helping me settle into my new role. Accordingly, it was not long before I had an understanding of what was expected of me and what I would be advising on. The office atmosphere is collegiate and drinks and lunches are regularly organized to maintain this. The offices themselves are new, impressive and well located being in heart of Camana Bay.

Cayman is a welcoming place and it is not difficult to make friends and socialize here. There is a vast range of activities on offer and I have enjoyed diving and playing touch rugby as well as sports new to me such as cross-fit and sailing. The weather (hurricane permitting) is fantastic and weekends are relaxing and spent in a beautiful location. I am yet to leave Cayman to travel around the region but look forward to seeing more of America and other Caribbean islands as time passes.

A major lifestyle advantage of living in Cayman is that my commute to work is a three-minute drive. I found a car on the listings website Ecaytrade within a few weeks of looking and Century 21 helped me find a well-located two-bedroom rental apartment, with sea views, for less money than the one-bedroom place I was renting in London Bridge. Mourant Ozannes paid for me to have a rental car and to stay in a hotel nearby to the office whilst I looked for both.

I have been admitted as a Cayman Islands attorney and am excited to grow into living and working here – from what I have seen, I expect to enjoy both.

Interested in a move to Cayman working as a Lawyer? Read our frequently asked questions for offshore lawyers or reach out to Graham Blyth for a confidential conversation at graham.blyth@cml.ky

Cayman’s “Power Women” included in Citywealth List

Thu, 22 Aug 2013 14:19:29 GMT

The August edition of Citywealth Magazine features the Top 100 “Power Women” in International Financial Centres, with representatives from the Cayman Islands taking 14 spots. The list is characterised as an A-Z list of influencers and professionals working in the financial services industry in International Financial Centres.

Here’s the list of “Power Women” from Cayman:

Fiona Barrie , Chief Operating Officer of Ogier Fiduciary Services Cayman and Head of Ogier Private Wealth

Monique Bhullar , Senior Counsel, Global Trusts Group, Walkers Global

Deanna Bidwell , Head of Wealth, Caribbean at RBC Wealth Management

Tamara Corbin , Partner, Charities, Trusts, Foundation, Rawlinson & Hunter

Zoe Day , Director, Citco Trustees

Andrea Dunsby , Partner, Turner & Roulstone

Lana Farrington , Director, Barclays Private Bank & Trust

Leticia Frederick , Deputy Head Fiduciary Services, Cayman Islands Monetary Authority

Debra C Humphreys , Risk & Compliance, Cayman Islands National Corporation

Morven McMillan , Partner, Mourant Ozannes

Emma Santiago , Senior Manager, Rawlinson & Hunter

Jackie E Stirling , Senior Resident Oﬃcer, Bessemer Trust Co Cayman Islands

Sheena Thompson , Regional Head of Operations, RBC wealth Management Cayman Islands

Ruth Yates , Senior Analyst, Cayman Islands Islands Monetary Authority

Click here for the entire list:

http://www.citywealthmag.com/_resource/_upload/iss_29565.pdf

The Internship

Mon, 19 Aug 2013 14:31:44 GMT

I worked closely with all of these great people in my role as CML’s Summer Intern!
(L-R Carolyn Andrews, Anna Jay, ME!, Abbey Le Cornu and Gemma Tighe)

When I wasn’t studying or sitting my exams, my pre-summer holiday was spent applying to several recruitment agencies in Grand Cayman in the hope of getting a summer job to gain some experience in Human Resources for my upcoming university course, and making spare cash for the upcoming school year. Not once did it cross my mind that I would have fun being the intern, and become a part of company that genuinely cares about helping people!

Nonetheless, things weren’t always so peachy for me. The first day of work was like the first day at a new school; didn’t know anyone, I was very shy in approaching people, and worst of all I didn’t know where the bathroom was! I imagine that this was a perfectly normal reaction for people across the board when starting a new job. I have grown to find that the social factor in a work environment is very important as work can become very stressful, and so having a colleague to bounce a few jokes off or share funny moments lightens the atmosphere and makes daily tasks more bearable.

The thought of spending the entire summer holiday working is definitely not the most pleasant one, especially when it’s your last summer before going off to university, but I found that working with CML has given me invaluable experience for the future, and it has helped me to put my future in perspective in terms of the career path I wish to take. Most of all, I have enjoyed every last bit of this internship, which has made my summer much better than I have expected.

So, advice to young people looking a job – never give up on a job search, it will take some time for something to come up, but it will always be worth it in the end as you will be gaining work experience and making connections in the working world. Also, remember to do any task however big or small to the best of your ability, because you never know who will be watching, and the multiplier effect it will have on your future.

Resume Writing – Job Responsibilities

Wed, 24 Jul 2013 05:27:30 GMT

Your resume is your first chance to impress a potential employer and show them that you have the skills and experience that they are looking for.

When you are writing your resume and including your work experience it is extremely important that you list all of the job responsibilities that you had in each position that you have worked. Whilst you may think this is obvious, you would be surprised at how many people only list the company they worked for and the job title that they had.

A lot of people copy and paste the job description from each position they have worked – whilst this may give an idea of what you did, it does not provide enough information (it can also make you come across as lazy). You will often have extra responsibilities given to you throughout your time in a certain company that are not listed in your general job description, and it could be these tasks that catch the eye of your next employer! If you want to copy and paste the job description, at least try to edit it a little bit so that it isn’t so obvious! If the wording of your job description says ‘To ensure….’, ‘To develop…’ etc, change it to be something like: ‘I ensured that…’, or ‘Ensured that…’; ‘I developed…’ or ‘Developed…’.

Make sure to list every task that you did in each position, and provide details if you think it would be necessary. Instead of saying ‘Accounts Receivable/Payable’, maybe try expanding it to say something like ‘Accounts Receivable / Payable – issuing invoices, processing payments, chasing overdue accounts, paying invoices received by the company, dealing with customer queries’. This gives a lot more information about your role in the team. You may think that this is all obvious, and assume that anyone reading your resume will know what duties would be included in this type of role, but it is so important to give this extra information. If you don’t, and another candidate does – your chances of moving forward to the interview stage is quite low.

The same goes if you list something else like ‘Administrative duties’. List what those duties were. Each role is different, and some companies may require you to perform an administrative duty that another company wouldn’t ask you to do, so it is VERY important to list everything.

Take a look at your resume… Does it need some work??

Motivation in the Workplace

Tue, 23 Jul 2013 05:34:53 GMT

Any good manager will understand the importance of motivation at work in order to gain optimal results out of each employee. What they might not realise is that everyone is different when it comes to feeling and keeping motivated, and that what drives one person won’t necessarily drive the next. It is integral for every company that managers understand their employees in order to keep momentum and productivity levels high.

So let’s look at some of the different factors that keep people motivated on a daily basis at work:

Stability – Certain people are driven by the feeling of stability and knowing that their role in the office is secure. Whether this be for the individual’s future or the need for stability to maintain a family.

Praise – There are many people who thrive on the opportunity to impress others and feel a sense of validation from their employer. While you might think that everyone one wants this occasionally for their own ego, some people actually NEED this in order to progress.

$$$ – Of course the most common form of motivation are those who are motivated by monetary rewards and benefits. People with this personality trait tend to do well in bonus or commission lead environments.

Career advancement or prestige – Many people are driven by their end goals and where they see their career progressing. These people are usually part of a small group of people who feel that it is their own responsibility to keep motivated at work rather than the responsibility of their employer. They have an inner-drive which keeps them going.

Happiness – This group of people need to enjoy their job in order to feel motivated and successful in their work life.

So my thoughts on this is that if you are a manager take the time to understand your employees and what makes them feel valued, as inevitably if your employees feel valued and of course motivated it can only help to benefit your business.Take a look at your resume… Does it need some work??

However, you can’t leave all the motivation down to your boss! Think about what motivates you and identify what YOU can do to improve your job satisfaction and overall happiness in the workplace!

Expat numbers in Cayman continue to rise

Thu, 06 Jun 2013 05:43:36 GMT

Despite rising work permit costs and recent campaigns for greater transparency threatening the future of the offshore market, the Cayman Islands has not seen a dip in foreign workers numbers. In fact, there are more expats than ever arriving in Cayman.

So let’s look at some of the different factors that keep people motivated on a daily basis at work:

Happiness – This group of people need to enjoy their job in order to feel motivated and successful in their work life.

However, you can’t leave all the motivation down to your boss! Think about what motivates you and identify what YOU can do to improve your job satisfaction and overall happiness in the workplace!

CISHRP Conference – Fun, Lively and Informative!

Mon, 13 May 2013 05:51:33 GMT

Last week I attended the CISHRP annual conference, in the past I have been involved with the conference but more from a distance as I have been there representing CML on our promotional booth (which I still helped out at!)… this year I was extremely fortunate to be able to attend the full event, and what an event it was! Each year the CISHRP conference goes from strength to strength and seems to grow both in size and prestige.

Championed and hosted by our very own Chris Bailey, in a nutshell the conference was fun, lively, educational and informative. I’ve always had an interest in HR, when I was at university and deciding what career path to go down I was often attracted to the prospect of working in Human Resources. When I finished university, I spent a Summer interning at my local council’s HR department before the pull of recruitment drew me in and I found myself working in London as a recruitment consultant. However I have to say that I do believe the two professions go hand in hand and there is a lot of cross over between them.

During the 2 days of the CISHRP conference I was lucky enough to hear some great speakers, both from our local community and from the extended international HR community. They covered topics such as Managing Global Talent, The Art of Developing and Selecting Leaders, HR Best Practice and Competency Model, Recruiting and Engaging Young Professionals and Workplace Flexibility; and I can honestly say that I enjoyed listening to every speaker and hearing the different views and thought provoking dialogue. The tag line for the conference was ‘what you didn’t know you needed to know’ and it certainly lived up to that statement… for example I didn’t know that by 2025, 75% of the workforce will be made up of Generation Y or Millennial’s (those born between 1982 – 1993)! I fall in to this category and our apparent workforce traits are that we expect praise and need help getting motivated – now I’m not sure I agree with that, but I certainly had never considered this fact. However, it was very interesting hearing about the different ideas of keeping this generation motivated and retaining the best talent for your business.

One of the more thought provoking sessions was led by Martha Ramirez from SHRM on Workplace Flexibility and the benefits of being flexible in order to maintain business success. Martha discussed the different ways you can achieve this from promoting a work wellness program, to offering flex-time, to working from home. Many business leaders are hesitant to adopt this way of working, and I think this is mainly down to a lack of trust in their employees, however Martha brought up some interesting statistics on the actual improvements in productivity and financial benefits from working this way. I hope that in future more business leaders will consider working this way. At CML, I am happy to say that we are offered flexible working and from my perspective (I have a young daughter) it makes a HUGE impact on my work – life fit, and I like to think that by working this way I am able to work to my full potential. Here’s a link from Martha’s seminar. http://business.time.com/2011/12/21/the-beginning-of-the-end-of-the-9-to-5-workday/

It would also feel wrong to talk about the conference without mentioning the AMAZING food that was provided by The Ritz-Carlton Grand Cayman for the event. As a snap shot for you, in 2 days I was able to consume breakfast burritos, cuban sandwiches, pulled pork, steak tacos, root beer floats and numerous cakes and pastries… the post-baby diet took a hammering!

All in all, an excellent event and I’m looking forward to next year!!!

Check out some of our other photos from the event.

BVI – an attractive jurisdiction for offshore legal firms

Tue, 30 Apr 2013 06:07:27 GMT

This article in The Lawyer explores what the attraction of the BVI is in today’s economic climate and why three firms have recently launched new offices, with a further three forming new associations locally in order to give them a presence in the region.Championed and hosted by our very own Chris Bailey, in a nutshell the conference was fun, lively, educational and informative. I’ve always had an interest in HR, when I was at university and deciding what career path to go down I was often attracted to the prospect of working in Human Resources. When I finished university, I spent a Summer interning at my local council’s HR department before the pull of recruitment drew me in and I found myself working in London as a recruitment consultant. However I have to say that I do believe the two professions go hand in hand and there is a lot of cross over between them.

http://www.thelawyer.com/news-and-analysis/regions/offshore/shining-through/3003735.article

To practice as a a lawyer in the BVI you must be admitted as solicitor or barrister in England & Wales (not the commonwealth). Whilst there is no minimum PQE requirement for the BVI, as there is in the Cayman Islands, it is uncommon for firms to hire ex-pat lawyers without at least 18 months experience. The principal areas of demand in the BVI are litigation, corporate, trusts, finance and funds. Additionally, anyone with previous exposure to Russian/CIS or Asian clients and matters will be looked upon favorably. Whilst the BVI offers the quintessential Caribbean lifestyle and is ideal for couples, families and singles it is perhaps a more challenging place to live than Bermuda or the Cayman Islands. Anyone relocating to the BVI should be robust and ready for an adventure.

To apply for legal roles in the BVI, register your details today.

4th Top Employer Award for CML…

Wed, 17 Apr 2013 06:28:41 GMT

Most of the team from CML were able to attend this year’s Cayman Islands Society of Human Resource Professionals (CISHRP) Top Employer Awards on Saturday night, 13th April. We were treated to some excellent food and wine at the Ritz Carlton Grand Cayman, and Steve McIntosh and Chris Bailey accepted our 4th consecutive award for Top Employer in a Small to Medium size Business category. We have received this accolade every year since its inception in 2009/2010.

CML is a strong supporter of the Top Employer program and what it stands for. The CISHRP defines a ‘Top Employer’ as a place where employees trust the people they work for, have pride in what they do, and enjoy the people they work with. CML’s VP Chris Bailey commented “the criteria that must be met in order to qualify as a Top Employer are essential to having a productive and cohesive workplace for all staff. We now use it as a benchmark to measure how happy our staff are. Hearing that 87% of survey respondents (our staff) said that they ‘looked forward to going to work each day’ lets me know that we’re on the right path!”

The Top Employers recognised at this event are considered “The Best Places to Work in the Cayman Islands”.

CML introduces new head of FS Recruitment

Fri, 05 Apr 2013 06:41:16 GMT

We are very pleased to announce that veteran recruitment consultant (and new mum!) Louise Reed has recently moved into a new and expanded role at CML heading our Financial Services recruitment team.

Louise is one of the most highly regarded recruitment professionals ever to have worked at CML and is a role model for all of us at CML in her professionalism and exemplary work ethic. In fact, the only thing that can be readily criticised is her pathetic contribution to the office swear jar, which being Scottish, should be a line item on my payslip.

Louise joined CML in 2009 after 7 years with a well known UK recruitment firm where she had risen the ranks to Regional Manager. During her time with CML she has become extremely knowledgeable in the offshore financial services employment market and known and respected by our valued clients in all industry sectors. Her market experience and reputation for responsiveness and results among both client and candidates made Louise a natural choice to head our Financial Services recruitment team.

Working with Louise in our newly-expanded financial services recruitment team are: newly minted Recruitment Consultant (and new mum too!) Tiffany Turrell; chair-hopper extraordinaire, Abbey Le Cornu; and Ambrose “the Irish Adonis” Guilfoyle (he’s taken, ladies).

Chris Bailey will continue to handle executive search projects in FS and beyond while I will of course continue to stick my beak in where it’s wanted (and where it’s not!).

If you have any questions about the new arrangement, feel free to contact us for a chat on +1 345 949 1345.

What on earth is a Bitcoin?

Tue, 26 Mar 2013 07:14:39 GMT

No. You haven’t heard of them either?

I forget exactly what I was doing, but during a ramble on the Internet I came across a statistic. Bitcoin: The fastest growing currency in the world.

What the hell is a Bitcoin – you ask yourself. I’ll be honest, having done my fair share of reading, I’m still not 100% sure I know myself.

I’ll have a go. A Bitcoin, is an online currency with no tangible physical end product. (i.e. no notes or coins, cheques or cards). Instead it exists solely on the Internet and is deciphered, or rather put together with a 33 character concoction of letters and digits starting with a 1 or 3. A Bitcoin is an example of a crypto-currency. This means that it exists and is regulated by cryptography rather than a Central Bank or Authority like everyday Banking.

Allegedly the total market value of Bitcoins is in excess of $500 million. One single Bitcoin is currently worth something like $72. There’s a veritable rush on an intangible currency.

Confused? I still am. Even more so, when you start reading and getting into more detail from financial analysts. The wiki for instance –

http://en.wikipedia.org/wiki/Bitcoin . Among other random facts; the Bitcoin is analysed roughly 30 times a day by Morgan Stanley and Goldman Sachs (among others I’m sure) as potential new exploitable markets. As there is no central issuing authority; there’s no inflation per se (although in reality the increase in value of a Bitcoin equals inflation). Instead, Bitcoins are produced on a geometric series, until in 2140 21 billion Bitcoins will be in ‘circulation’. At present 25 Bitcoins are ‘created’ or ‘released’ every 10 minutes. By 2017 this will reduce to 12.5 Bitcoins and ultimately every 4 years this will halve further until 2140.

How about the Bitcoin website – http://bitcoin.org/en/ – Bitcoin is a currency, a protocol, a software. Designed for peer to peer transfer, worldwide payments, no processing fees and apparently untraceable. I’ll let you explore the site and draw your own conclusions.

With the Banking debacle in Cyprus – i.e. with the Government freezing and / or directly drawing into individual accounts, Bitcoins have received further publicity and infamy because they can’t be regulated or interfered with, by anyone. They are unhackable, so you don’t need to worry about some nefarious character stealing and they are untraceable.

Which makes me wonder, how on earth do you get money for them? Or at least get money back for them? Apparently you buy these Bitcoins and let them do the hard, investment work for you…

What about this crazy Canadian wally – http://rt.com/news/house-for-sale-bitcoins-781/ he’s only gone and put his house up for sale – in Bitcoins!! 5,362 Bitcoins or $395k to me and you. Allegedly there’s already a Bitcoin changing ATM – which is baffling because you aren’t withdrawing a tangible currency.

What of the Creators?

http://www.guardian.co.uk/technology/video/2013/mar/22/bitcoin-currency-video – this video by the Guardian breaks down in a little bit more detail the inner workings of the somewhat anarchic Bitcoin makers.

What of the skeptics? http://go.bloomberg.com/market-now/2013/03/21/sorry-bitcoin-isnt-a-currency/ – the argument being, that you can’t buy ‘stuff’ with Bitcoins. There’s the unsavoury Drug / Silk Road avenue which we won’t go into details on – but is elaborated in the Guardian once again –

http://www.guardian.co.uk/world/2013/mar/22/silk-road-online-drug-marketplace , but there are some specific Bitcoin sites that do buy / sell goods and tangible commodities in exchange – a pizza place for instance.

So having evaluated the Bitcoin and provided links for it’s ‘uses’, I’m conscious that I still don’t know how it works or what Bitcoin mining is. Here’s a synopsis of Bitcoin Mining – http://motherboard.vice.com/blog/a-guide-to-bitcoin-mining-why-someone-bought-a-1500-bitcoin-miner-on-ebay-for-20600 – apparently it’s a way to verify transactions, a general ledger in standard monetary speak. Except it’s not. It’ll get more confusing and complicated to keep track of transactions the more Bitcoins that are added to circulation from 2016 onwards. Probably best, not to even try and bother…although the link is a good one if you wish to try and get a better understanding.What of the Creators?

Finally then, how a Bitcoin works; I went back to the ‘official’ Bitcoin website and this is their definition – The basics for a new user.

“As a new user, you only need to choose a wallet that you will install on your computer or on your mobile phone. Once you have your wallet installed, it will generate your first Bitcoin address and you can create more whenever you need one. You can disclose one of your Bitcoin addresses to your friends so that they can pay you or vice versa, you can pay your friends if they give you their addresses. In fact, this is pretty similar to how email works. So all that is left to do at this point is to get some bitcoins and to keep them safe . In order to start using Bitcoin, you are not required to understand the technical details.”

So. What are you waiting for? Go trading, or purchasing, or generating, or whatever the hell it is you do with Bitcoins. Evidently there is scope to make some serious cash – after all the whole Cyprus banking palaver has seen the value of Bitcoins spiral from circa $40 to over $70, so there was some quick money to be earned.What of the Creators?

If anyone can explain it to me in layman’s terms, I’d be interested (and perhaps less cynical) to learn more. Otherwise, hopefully this has helped ‘deriddle’ something that has left me scratching my head. Perhaps, all I’ve done is publicize some crazy new-age ponzi scheme and delivered infamy. From an IT perspective I was curious, simply because it all takes place online.

Oh to be a Bitcoin miner.

Top 30 Offshore Law Firms

Tue, 19 Mar 2013 07:31:06 GMT

Follow this link to The Lawyer website, where you can review a comprehensive guide to the top 30 Offshore Law Firms for 2012.

http://www.thelawyer.com/the-top-30-offshore-firms/3001088.article

Maples and Calder find themselves at the top of the list, overtaking Appleby for the first time since 2009, based on the number of Partners and Lawyers in the firm. If Maples’ fiduciary business, Maples FS, is taken into consideration, they now employ more than 900 people, reaffirming their presence as a global player.

In the graphic below, you can see the changes in rankings of the top 10 firms over the past 5 years:

CML Offshore Recruitment places mainly funds, corporate, trust and commercial litigation lawyers in legal jobs in these leading Offshore Law Firms in the Cayman Islands, Bermuda, BVI and the Channel Islands. Candidates with experience at a recognised set of Chambers, a leading London Firm, or a 1st or 2nd tier UK (or Commonwealth) law firm are sought for positions in most Offshore law firms. Contact Anna Jay on +1 345 949 1345 if you’re looking for a change in your legal career.

Legal Practice in Cayman… the debate continues

Wed, 06 Mar 2013 07:47:23 GMT

Since the late 1990’s, the Legal Practitioners Bill in Cayman has been a controversial and highly debated topic. There are conflicting opinions about its objectives and whether all the proposed issues should actually be within the scope of the law. The Bill includes, among other issues, regulations regarding opportunities for Caymanians in pursuit of a successful career practicing Cayman Law, which is at the heart of the debate.

It is undoubtedly high time that the Legal Practitioners Law is updated in order to ensure that regulations surrounding the profession are updated in accordance with the evolving legal services landscape and that the firms practicing Cayman Law are compliant with these regulations. However, the debate continues and the objectives of the new draft Bill in November 2012 continue to be questioned.

This article in The Journal, provides insightful statistics about the legal profession in Cayman. It discusses the purpose of the Legal Practitioners Bill and its importance in relation to corporate social responsibility and the Cayman Islands economy. It also highlights what the potential economic impact could be for firms who practice Cayman Law in other jurisdictions.

http://www.compasscayman.com/journal/2013/03/06/Legal-practice—discrimination-or-meritocracy-/

CML Offshore Recruitment places both expatriate and Caymanian lawyers in legal jobs in the Cayman Islands, Bermuda, BVI and the Channel Islands. Expat lawyers seeking to work in the Cayman Islands must meet the following requirements: be UK or Commonwealth qualified (Cayman Law is based on UK Law), have at least 3yrs PQE and previous offshore finance experience is highly advantageous. If you meet these requirements, please register your CV here. Caymanian lawyers are in demand at all levels, and are invited to meet with our legal recruitment consultants for a confidential discussion at your convenience. Contact Anna Jay on +1 345 949 1345 if you’re looking for a change in your legal career.

What documents do you need to register with us?

Fri, 08 Feb 2013 09:18:14 GMT

We get a lot of phone calls and emails from people asking us how they can register with CML Offshore Recruitment, so I thought I would put it all in writing!

There are 3 main things that we need from you, and each of them is very important:

Resume

The most important thing we need from you is your resume! We need to be able to look at your experience and assess how your skills fit in with our clients’ needs. Here are a couple of tips to help you create a great resume

Contact information!

You would be surprised how many people come into our office, looking for a job in the Cayman Islands, and drop off their resume for our consultants – without including an email address and phone number! You need to include this information otherwise we cannot get in touch with you about potential job opportunities!

Education

Include your education history – in reverse chronological order (most recent on top) – including the dates you attended each institution. This allows potential employers to see the most relevant parts first! There is no need to include your kindergarten, your primary school and the 2 high schools that you may have attended. Only include the school where you obtained your leaving certificate (or equivalent), and any university degrees or courses that you have taken, including the name of the institute that you attended to complete the degree. Even if you have not completed your degree yet, make sure you write ‘Current’ next to it, so that potential employers can see that you are currently studying.

Professional Work Experience

Again, list this in reverse chronological order. Make sure you include the dates of employment for each position, as well as the company name and the job title that you have/had. Next, to make the document easy on the eye, you should list your job responsibilities in bullet point form for each position (separately, not together after listing all the jobs you’ve ever had)! List any responsibilities that you can think of that you had for each position. We need to see everything that you’ve done!

Work Experience / Internships / Volunteer Work

This isn’t something that you NEED to include, but if you don’t have much professional work experience it can be useful to include this information so that potential employers can see any relevant experience you may have to what they are looking for.

Computer skills

It is a good idea to include any computer skills that you have, or programs that you are familiar with: typing speed (if it’s relevant to your line of work), knowledge of Microsoft Word, Microsoft Excel, Quickbooks, ViewPoint etc.

References

It is your choice whether or not you include references on your resume. If you do not provide them, it is advisable to state ‘References available on request’ at the bottom of your resume.

We don’t really need to know your hobbies and interests and all of the certificates you may have achieved in primary school or ballet class as it isn’t really relevant to your search for work.

Police Clearance

We need all candidates to submit a police clearance to us when they register – for obvious reasons! Our client’s rely on us to check this sort of thing before starting the application process with them. If we wait until further in the process (ie. After an offer of employment has been given to you) it can get quite awkward (not to mention frustrating!) for all parties involved if it is found out that you have a criminal record.

Written Professional References

Even though you don’t need to put your references on your resume, we do require that you provide us with professional written references (i.e. a copy of a letter from each of your references) so that we can verify your employment and know that we are submitting the best quality candidates

To register, you can either register on our website ( www.cmlor.com ), or email all of these documents to info@cmlor.com and one of our consultants will be in touch with you shortly!

Recruiters will save you time and money

Wed, 30 Jan 2013 06:39:53 GMT

This article on LinkedIn Today (I do love that feature) popped up and I had to share it.

When it comes to hiring the right staff, we know what a struggle it can be – and we also know the perception that people have towards using a recruiter to help you find the best hire for your company or department…

All those questions: “Is it worth the money?”….” Won’t I find them myself anyway?”…”What can they do differently?”… (and a few more no doubt).

This article from Inc.com is written by a successful business owner, and her story I’m sure will resonate with the business owners and managers out there who also dread having to hire new staff. Take a read. See what you think.

Essentially, using a Recruiter will:

1. Have a list of candidates for you that have already been thoroughly screened and match your requirements.

2. Have provided that list to you in a fraction of the time it would have taken you to receive applications through your normal methods.

3. Only charge you once you hire one of the provided candidates.

4. Have saved you money as the actual cost of the hire becomes much less due to the time you saved and the fact that your new hire will start sooner!

5. Have candidates you want to see – good candidates use recruiters because they understand that recruiters maximise the opportunities for their resume to be seen.

Considering relocating with your spouse?

Fri, 11 Jan 2013 12:17:40 GMT

Relocating abroad is something many people dream about, particularly if the destination offers year-round sunshine, miles of un-spoilt beaches and tax free earnings! However if you are married and have a family, the decision can be more complex and there are many additional factors that need to be taken into consideration.

One key factor to consider is whether your spouse will be also able to secure employment in your destination of choice. The strict immigration laws in Cayman mean that whilst spouses can accompany their husbands or wives as a dependent on their work permit, this does not automatically allow them to work. However, it does provide spouses with the opportunity to relocate, settle in and search for work when they arrive, free from the pressures of taking up a post immediately on arrival.

Whilst CML Offshore Recruitment is perhaps best known for the specialized international search finding jobs for qualified lawyers and financial services candidates, we also work in other related fields. We have highly experienced consultants recruiting to the IT market and our Trust, Administration and Support Services Team (TASS) have the necessary sills and experience to work with both local and international candidates for a variety of support roles.

Candidates who have made the decision to relocate, or have already relocated with a husband or wife who is starting a new job, are very appealing to prospective employers for a number of reasons. From a financial perspective, employers are freed from the requirement to contribute to relocation costs, which can include airfares, temporary accommodation etc. They are also assured that the candidate has already committed to the move with their spouse or family, so the possibility of a change of heart is much less likely and the risk is therefore less than recruiting from overseas.

CML’s consultants pride themselves on offering full recruitment and immigration services to their candidates and clients and will fully support the relocation process, for candidates and their families. We are happy to offer candid advice on the job market and the opportunities that we recruit to in offshore jurisdictions and will endeavor to assist anyone who has skills and experience that are transferrable to the local job market.

So, if you are thinking about a move abroad and would like to get the full picture about opportunities for yourself and for your spouse, please contact one of the consultants below:

Legal: Simon Scott or Anna Jay

Financial Services: Sinead Byrne or Ambrose Guilfoyle

IT: Emma Roberts or Chris Turrell

TASS: Louise Reed, Tiffany Turrell or Abbey Le Cornu

For further information please visit our website ( www.cmlor.com ) or our video channel ( www.cml.tv ).

You can also find advice on relocating to the Cayman Islands at http://www.caymannewresident.com/

Stand out from the crowd!!

Wed, 02 Jan 2013 06:53:33 GMT

It’s that time of year of good intentions, new resolutions and the great mass migration of workers!

Every January, recruiters across the globe are deluged with people wanting a change in the new year. But how does that make you look, and are you prepared for the question “Why are you looking to move?”… “Because I’m bored” isn’t a good enough answer (although it may be true!).

So how do you stand out from the rest of the crowd? Well here are some top tips:

1) Apply for jobs that are relevant to your experience.

While not impossible, it is increasingly difficult to move to something new unless you are prepared to take a salary cut as your experience can often count for nothing if you are moving into a completely new area. We recommend if you’re looking at jobs in the Cayman Islands, that you stay in your area of expertise and any relevant professional qualifications that you have will put you ahead of others.

2) Do your research

Make sure you know where your CV is going and why. Simply sending a CV to a company or agency is not enough. Write a concise cover letter informing an individual why you have selected them as the person who could help you most and what you bring to the table. Follow this up with a phone call – it’s your job search so be prepared to do some legwork. Once you have formed a relationship with your recruiter you will be more likely to be front of mind when an opportunity is presented.

3) We’re on your side

Reputable recruiters will do all they can to assist in the best possible way as they are rewarded based upon success. So remember they are equally disappointed if you don’t get the interview or job that was presented. Whilst they can do all they can to try to ensure success they don’t make the end decision so don’t blame them. Listen to all feedback and if none is forthcoming then change recruiters! Good recruiters will always feedback interview/CV comments both positive and negative so that everyone learns from each process.

4) People like positive people!

Don’t bring any of your personal problems to the interview, especially if the interview is quite relaxed and informal. No one wants to hire problems! Unless your personal problems are going to impact on your ability to perform your job, don’t discuss them. They are your business and talking about them makes you appear desperate/negative and not that focused on your work. So stay positive throughout.

I hope these tips help you! Good luck, stay positive and remember building good relationships is key. ��

Happy 2013!

Cayman Formations Rise by 57%

Fri, 30 Nov 2012 07:00:21 GMT

The Cayman Islands Monetary Authority has licensed over 55 applications in the first ten months of 2012. This is 57% higher than the same period in 2011.

Despite the soft market 2012 is expected to see the most new formations in Cayman since the hard market of 2004, said Gordon Rowell, head of insurance supervision at CIMA at the 2012 Cayman Captive Forum.

As of 31st October 2012, the domicile has 737 captives, including 411 captives.

Total premium written by captives was reported at US$11.8bn, up from US$8.8bn as at 30th June 2012 (34% increase).

Total assets under management were reported at US$88.1bn, up from US$78.9bn as at 30th June 2012 (12%).

However, Rowell said as long as the commercial market has significant capital, price competition will continue. “Even with the advent of Hurricane Sandy, this is not likely to significantly impacted.

“The only area where price discipline seems to be taking effect is in workers’ competition but even here, payroll is suppressed due to economic conditions.” Rowell the soft market made it a “buyers’ market”, which meant it is hard for group captives to attract new participants, fronting is even more limited today than in prior years, and tort inflation still exceeds the CPI by 2,3 or 4%.

Source: Captive Review .

Insurance regs approved at long last

Fri, 16 Nov 2012 07:12:41 GMT

Some two years after passage through the legislative assembly, the regulations to the Cayman Islands Insurance Law have finally been approved by Cabinet.

The law makes a number of changes to the regulatory regime for insurance companies in the Cayman Islands and finally recognises re insurance companies, who were previously formed and regulated under rules intended for captives. (Yes, the statutory minimum capital requirement for a reinsurance company writing a billion dollars in premium would have been US$120,000!).

The 64 million dollar question is this: will the new regulatory regime result in an increase in reinsurance business conducted in Cayman? Not likely, at least in the short term.

The Cayman Islands has long had its sights set on reinsurance business as one of the most lucrative sectors in offshore financial services, and one thus far concentrated in competing international financial centre Bermuda. A press release issued by the Association of Bermuda Insurers and Reinsurers (ABIR) in 2010 cited an Economic Impact Study commissioned by the group as showing that its 22 members directly contributed some US$950 million to the Bermuda economy. As I’ve previously noted that is more than the economic contribution of Cayman’s entire financial services industry.

While anecdotal evidence suggests that number will already have declined somewhat since 2010, rumblings in the industry indicate a high degree of disaffection among reinsurance companies and an appetite for a change of scenery, particularly among senior executives weary of the ever-increasing cost and awkwardness of doing business in Bermuda.

Adding weight to Cayman’s value regulatory proposition for reinsurance companies (announced recently and conspicuously timed to coincide with the new regs) is a package of immigration concessions offering ten year work permits, permanent residency (with a pathway to citizenship) and even a waiver from work permit fees for an extended period.

Whether all this will amount to a hill of beans is unclear. A company’s success is not just related to the quality of its product, but to its business acquisition (aka sales) strategy. While Cayman may have taken steps to improve the product, its sales strategy and infrastructure are not merely lackluster, they are non-existent.

Cayman Islands takes top spot in banker rankings

Fri, 16 Nov 2012 07:06:26 GMT

For the fourth consecutive year the Cayman Islands has received the accolade as top jurisdiction as a Specialised Finance Centre in The Banker magazine’s 2012 survey of international financial centres, beating all other financial centres globally in this category.

Cayman Finance chairman Richard Coles said achieving such a high ranking underscores the superlative level of excellence offered by Cayman’s financial service providers.

“The Cayman Islands has once again proved itself globally as a leader in the field of specialised finance,” he said. “Being awarded the highest ranking by The Banker once is an achievement in itself; four times in a row means Cayman has set the bar extremely high for all other jurisdictions to follow and Cayman sets itself far above its competitors at the same time.”

The statistics highlight how Cayman is increasing its lead position. In the 2012 survey Cayman was allocated a score of 49.909, while second place Guernsey was awarded 37.056 and The Bahamas was in close third, receiving 36.332. Cayman’s score last year was 42.59, again beating Guernsey into second place with 34.48. Last year’s third place was allocated to Cyprus, with 34.42. Cayman has thereby significantly extended its lead this year, considerably widening the gap between first and second place.

Coles said that over the years the Cayman Islands has built a solid reputation for high quality professionalism.

“This high level of expertise coupled with an excellent relationship with the regulator translates into a nimble and innovative jurisdiction that is quickly able to meet market needs and is backed up by a solid regulatory framework,” he explained. “There are few jurisdictions globally that can match the Cayman Islands in these two important fields. It is indeed great news that Cayman’s achievements have been recognised by The Banker in this way.”

The ranking of international financial centres is based on data from a range of sources, including financial markets indicators, economic potential and business environment factors. The ranking focuses on the level of international business and the value offered to international institutions seeking to expand their international operations.

The Banker’s survey ranks all international financial centres annually, with New York taking the top spot as the overall IFC for 2012. London took second place and Singapore third in this year’s survey, reflecting the same positioning as in last year’s survey. The Banker Magazine is part of the Financial Times Group, a globally recognised and respected finance publication.

Maitland acquires Admiral Administration

Fri, 09 Nov 2012 07:18:46 GMT

Does this means the funds industry is on the turn in Cayman? With State Street recently acquiring Goldman Sachs’ Fund Administration business in Cayman and increasing operations, and now Admiral finally finding a suitor – a suitor which by its own admission is recognised as one of the fastest-growing fund administrators in the world – could we see a plethora of new fund jobs being created in Cayman? It’s looking positive.

The below is the article from the Maitland website:

Maitland, a global provider of fund administration, multi-jurisdictional legal, tax, fiduciary and investment advisory services, has acquired Admiral Administration.

Admiral is an award-winning global hedge fund administrator with offices in the Cayman Islands; Dublin, Ireland; Halifax, Nova Scotia; and Richmond, Virginia. It combines best of breed technology including Advent Geneva, Advent Partner and Paladyne with highly skilled and qualified staff to provide clients with a comprehensive customised solution to meet the specific needs of the alternative investments industry including hedge funds, private equity funds, UCITs and other regulated funds. At the recent HFM awards in New York, Admiral was a finalist for Best Technology for an Administrator among other industry leaders such as SS&C GlobeOp, Citi, State Street, and Citco. Admiral was also voted Best Offshore Administrator by Hedgeweek in 2011.

With over 35 years international administration experience, Maitland is today recognised as one of the fastest-growing fund administrators in the world. The acquisition of Admiral supports Maitland’s strategy of targeted growth, expanded global reach and leadership in the fund administration industry. The combined group will have total assets of US$145 billion under administration, 700 employees and 15 offices across 13 countries including: BVI, Cayman, Canada, Ireland, Switzerland, Isle of Man, London, Luxembourg, Malta, Mauritius, Monaco, South Africa and the United States.

Maitland CEO, Steve Georgala, said: “Admiral is a premier specialist provider of hedge fund administration services and represents a strong franchise with industry leading technology. The deal offers strategically attractive and financially compelling synergies. Admiral’s hedge fund services expertise and award winning technology will enhance Maitland’s fund services capabilities. We are well positioned to expand our traditional administration services into the jurisdictions where Admiral has a presence.”

Canover Watson, Managing Director of Admiral, who will remain the global head of hedge fund administration for the group, said: “The merger of platforms will result in a powerful combination of Maitland’s global institutional presence and resources, and Admiral’s world-class industry leading technology and extensive hedge fund expertise. We aim to be a global leader with the institutional infrastructure, size and resources to assist our clients, whatever their size, location or investment strategy, to meet the increasingly complex requirements of their investors and regulators.”

http://www.maitlandgroup.com/maitland-acquires-award-winning-admiral-administration/

Human Rights arrive in the Cayman Islands today!

Tue, 06 Nov 2012 07:27:40 GMT

An article by Richard Coles, the Chairman of Human Rights Commission, was published in today’s Compass . He opens with the line: ‘As chairman of the Human Rights Commission, I am pleased to share in the celebrations of Implementation Day. Today – 6 November, 2012 – is a monumental day; one of which we should all be proud; one which marks a new beginning for the people of the Cayman Islands. Today is the day in which our Bill of Rights, Freedoms and Responsibilities become enforceable on a local level….’

The 6th of this November is the day the Cayman Islands’ first Bill of Rights takes legal effect – three years since the signing of the 2009 Constitution Order between Cayman and the UK.

As of that date, the Bill of Rights will allow individuals who feel government has infringed upon their rights to take their claims either to arbitration or the Grand Court using a local law. More importantly, the advent of human rights in Cayman after 6 November will give residents a local recourse in cases where they believe violations have occurred.

Option one will be to bring a claim to the Human Rights Commission, which can make non-binding rulings on cases and which will offer arbitration services as an alternative to Grand Court proceedings. “We hope that will be utilized, so that only cases that really need to go to the Grand Court go to the Grand Court,” Coles says. “That’s a lot cheaper and a lot faster, I suspect.”

WHAT ARE HUMAN RIGHTS?

The official title within the Constitution Order [2009] is the Bill of Rights, Freedoms and Responsibilities; it is the first such declaration of rights ever contained within a Cayman Islands governing document.

The bill sets out 19 separate rights that residents of the country have in dealings with their government. The application of those rights is “vertical”, in other words , between the individual or company and the state. The bill of rights has no application between an individual and another individual, or a person and their employer.

Rights include the right to life, the right to be protected against torture and inhumane treatment, the right to be protected against slavery or forced or compulsory labour, the right to personal liberty, the right to treatment of prisoners, the rights to a fair trial and no
punishment without law, the right to private and family life, the right to conscience and religion, the right to expression, the right to assembly and association, the right to movement, the right to marriage, the right to property, the right to non-discrimination, the protection of children, protection of the environment, the right to lawful administrative action and the right to education.

ALL PUBLIC ENTITIES!

Human rights experts expect to see the most complaints in the area of lawful administrative action. Section 19 of the bill states that all actions of public officials must be “lawful, rational, proportionate and procedurally fair”. Every person whose interests have been adversely affected by such a decision or act has the right to request and be given written reasons for that decision or act, Section 19 of the Bill of Rights goes on to state.

Every single government body, board, commission and committee fall under the legislation as of 6 November. Human rights officials expect that particularly the Work Permit Board will face increased number of complaints.

Commissions Secretariat Director Deborah Bodden says the advent of the Bill of Rights means it is absolutely crucial for coherent policies to be in place before government bodies make decisions and that those policies are followed. The key for government departments looking to defend themselves from such claims: Be sure and write everything down. “We’ve been encouraging policies and procedures to be written, rather than just spoken about which will change a lot of things for government,” she says. “If you make a decision…you must be prepared to give somebody the written reasons for why,” says Commissions Secretariat director Deborah Bodden.

Cayman’s immigration boards have operated for years under sets of guidelines that have never been made available for public consumption. Although it doesn’t expressly require it, the territory’s new human rights regime will encourage all government boards to make public their policies and operating procedures, Ms Bodden said. “One of the things that we’ve said to them is that written policies and procedures should be available,” she said. “There is no reason, unless they can be exempted under FOI, there is no reason that the general public cannot understand what they need to do.”

More Changes in Immigration Regulations

Thu, 01 Nov 2012 07:09:19 GMT

The Cayman Islands government has determined fees for various applications and grants of permits; including permanent residence for those with independent means and residence for those with a “substantial business presence” in the Islands.

The details are specified in the Immigration (Amendment)(No. 3) Regulations, 2012.

Independent means

The regulations set certain requirements on the new immigration category of permanent residence for those with independent means. Among those requirements are that the person being granted such a certificate, which allows them to remain in Cayman for the rest of their lives, would have to satisfy the chief immigration officer that they had invested in $1.6 million worth of developed real estate within the Islands.

There is also a quota placed on permanent residence for those with independent means of 250 such grants allowed per year. The one-time issue fee for a certificate of permanent

residence for those with independent means is set at $100,000 in the regulations. In addition, those who are granted such a certificate would have to pay a $1,000 per year fee for each dependant they bring to the Islands.

In addition to permanent residence for those with independent means, the 25-year residential certificate (not permanent residence) for those of independent means has had its income requirements lowered. People qualifying for residence in that category must now have an annual income of $120,000 [down from $150,000] and have invested at least $500,000 in Cayman [down from $750,000].

Substantial business

The regulations also set more ground rules for the establishment of what’s known as a substantial business presence within the Cayman Islands.

Being granted such a residency certificate under those rules requires the chief immigration officer to take into account whether the business has established an actual physical presence within the Cayman Islands and if the business employs, or will employ, four full-time employees who are legally resident within Cayman for at least nine months a year.

Approved categories of business under the substantial business presence section include: fund administration, brokerage services, investment and fund management services, investment banking, financial trading, captive insurance or reinsurance management, reinsurance underwriting, actuarial services, insurance claims management, hedge fund incubation or any company registered as an exempted company under section 164 of the Companies Law [2011 Revision].

Cayman No. 3 place for expats to live in the world! Survey Finds

Tue, 09 Oct 2012 07:15:01 GMT

The Cayman Islands has been ranked third as a place for expats to live and work according to the latest HSBC 2012 Expat Explorer survey.

See the article in full posted on CNS:

http://cnsbusiness.com/content/cayman-3-place-expats-live-survey-finds

I feel the best piece of the survey is that the Cayman Islands rated number 1 choice for “experience”. I can vouch for that!

First ever foreign secondment for a Cayman trainee lawyer

Fri, 05 Oct 2012 07:21:32 GMT

A Caymanian articled clerk at major offshore law firm Walkers holds the distinction of becoming the first ever articled clerk in Cayman to undertake a secondment to another jurisdiction as part of their training contract as she transfers this week to the firm’s Singapore office for a period of 2 months –

http://www.walkersglobal.com/Pages/News.aspx?News=193&Lang=1033

Finding a job is easy… getting an offer – not so much

Fri, 28 Sep 2012 07:47:42 GMT

Attention all you job seekers out there:

I know how you’ve been feeling lately. Excited that you’ve put in an application for a position that you think you’re perfect for. Anxious to get a call asking you to attend an interview. Less motivated when that call doesn’t come. Or perhaps it did come and you went to an interview, felt like you aced it and now you’re feeling confused as to why you didn’t get the job. Wondering why you can’t find a job when you think your experience is more than sufficient. Negative because after months of looking, your search has come to nothing.

I’m here today to challenge you. I’m here today to help you challenge yourself.

The job market at the moment is really quiet, and unfortunately this doesn’t mean that the number of job-seekers has decreased – this means that the market is also very competitive.

You need to make yourself stand out on paper (and again during an interview). Make yourself memorable for the right reasons!

Questions to think about

What makes you different from every other candidate out there who has similar experience to yourself?
How would you add value to the organization?

Your Resume

It is important to list every important detail on your CV.

After including all your contact information (it is also advisable to list your immigration status), make sure you list all relevant education and qualifications.

When you are listing your work experience it is important that you list the following:

Dates of employment
Company name
Job title
Job Responsibilities (bullet point form makes your resume easier to read). Make sure you list everything relevant that you can think of. You need to be able to demonstrate why your experience is suitable for the position you are applying for

Make sure there are no spelling / grammar errors.

Emailing an application

I see hundreds of applications each week from job seekers who email through their resumes to me. One of the biggest mistakes you can do when emailing a resume, is sending through a blank email with your resume attached, or only saying ‘see attached’. Why would you expect anyone to spend their time opening and reviewing an attachment, if you won’t even spend the time to write them a couple of lines introducing yourself and the purpose of your email? And don’t forget that a large proportion of spam emails are blank emails with attachments on them.

You need to engage your audience.

Write a short cover letter in the body of your email. Introduce yourself. Explain why you are contacting this person – are you responding to an ad? Did you hear about a job opening through someone else? What type of role are you seeking? What would make you the ideal candidate? Don’t make it an essay, but make it long enough to show that you are genuinely interested in this company / position.

Again – Make sure there are no spelling / grammar errors.

Interview Preparation

In today’s society, social media is the key to finding information about people. Make sure that your profile is clean.

If you have a facebook profile (or a profile on a similar social networking platform), check your security settings and make sure that you do not have any compromising images visible. Think of how you are presenting yourself. Don’t forget that (especially on a small island) your friends could also be connected to people you are interviewing with, so they could still have access to some of your photos.

To prepare for the interview, research the company you are interviewing with. Find out a bit more about what they do. Think of a few questions that you could ask in your interview to show your interest in the company. Don’t ask questions like ‘So, what does your company do?’ You will already be expected to know the answer to that. Think of questions like ‘How do you think I would fit in to the culture of the company?’, ‘Why is X company a great company to work for?’.

Make sure you present yourself professionally. Choose an outfit that looks professional. Make sure you are well-groomed – the first impression will always be based on your appearance (unless you are interviewing over the phone). Your hair should be neat, mean should be clean shaven. Think of other things that could help you present yourself better.

When going into an interview turn off your phone . Many people just put it on silent, but believe it or not, if your phone starts vibrating in your bag it could undo all the work you have put into this opportunity. I know of candidates who were perfect for a job, but were not asked back for a second interview because their phone was vibrating constantly in their bag.

Other tips :

Shake hands with your interviewer(s) when meeting them
Maintain eye contact
When you are asked a question, take a second or two to think of an appropriate answer (don’t leave it too long because it could create an uncomfortable silence)
Sit up straight
Listen to what is being said and asked of you
At the end of the interview, always thank the interviewer for their time, and shake their hand before you leave
Relax. Everyone is nervous when going to an interview. Clear your head before you go in. Take a deep breath and you will be fine!

When is it ok to follow up?

The interview process can take quite a while. Sometimes companies will have interviews lined up over a couple of days. If you are with an agency, it is always good to speak with your consultant after an interview to give them feedback. They may not hear back from the client for 4-5 days, but they will call you to let you know if you were successful, once they know.

If you are not using an agency in your job search, leave it a few days (4-5 working days) before following up. If you follow up every day for 4 days, you will likely create a negative aura to your application.

Things to Remember

Often companies are looking for specific experience. They don’t write up a job ad and list 5 criteria that a candidate “must meet” for the fun of it, or to make their ad look better. They list those criteria because it is what they need for the position they are trying to fill.

You may meet almost all of the criteria but be a “really quick learner”. That doesn’t mean anything. Most people mention the exact same thing on their CV. If the company was looking for someone without the experience they wouldn’t have listed it in the first place.

Read the job description. Pay attention to the criteria. If you don’t have the qualifications / experience listed, you will be up against a lot of candidates who do.

Be patient. The number of people looking for work at the moment is incredibly high. The market will pick up again soon. The right job is closer than you think!

If you feel that you have been unsuccessful in finding work for a long time, look into making yourself more marketable by taking courses / certificates / qualifications.

Most importantly: Have confidence in yourself. Don’t lose faith. The right job is out there.

Financial Services Recruitment Update - CML

Thu, 27 Sep 2012 05:10:11 GMT

The offshore market remains a firm favorite for qualified accountants and finance professionals from countries around the globe. With a tight economy and uncertain global economic outlook, many people are looking for jobs in Cayman, Bermuda and BVI for career opportunities and long term security. So what are conditions like for overseas job seekers in these locations?

Not unlike the main onshore financial centers, Cayman, Bermuda and BVI, are experiencing a shortage of jobs available for senior level qualified accounting professionals. However, specialist roles still exist for candidates with certain niche experience such as reinsurance accounting, trust, insolvency and restructuring and fund directorships. Traditional financial and management accounting roles are much sought after but continue to be a rarity. In the current market where the supply of accountants outweighs demand, employers are calling for the very best candidates only and unless applicants “tick all the boxes” employers simply will not consider them. In many cases employers are seeking previous offshore experience, a candidate that has knowledge of the offshore market and understands the process around relocating and what to expect on arrival. This, combined with a fluid and active crop of qualified job seekers already on the ground in Cayman and Bermuda, make it an even bigger challenge for overseas candidates to compete for offshore jobs.

When it comes to entry level accounting roles, there is still momentum and in a back office location such as Cayman the need for newly qualified auditors, insolvency seniors, trust and insurance accountants remains. As we enter the last quarter of 2012 clients typically start to prepare budgets and plan resources for the new year. But remember, for all overseas candidates, direct relevant experience is key and clients will only settle for the very best of the best.

In today’s market job seekers truly committed to securing an offshore position must be prepared to be patient and realistic. Opportunities still exist but competition is fierce. Candidates should focus on understanding the job description, perfecting their resumes, doing their research, and keeping abreast of offshore market news.

For more information or to discuss your options please feel free to give myself, or any of my colleagues, a call on +1 345 949 1345 or drop us a line at info@cmlor.com .

Tips for new graduates

Thu, 20 Sep 2012 05:20:01 GMT

The transition from education into the working world can be a daunting task. In the current economic climate, finding a new job isn’t always easy…regardless of age or experience. Stay calm though – it’s not impossible, and job seekers can aid their chances of finding ‘the right job’ by using the correct job search techniques.

If your school or college has a career guidance facility, USE IT! They can offer a wealth of knowledge on anything from helping to put together a good, coherent resume to interview tips and techniques. Being in her final year of University my younger sister is currently going through this process and over the weekend asked me for some tips on job applications and interviews, so I thought I would share what I have learnt from both my own experiences and also working in the recruitment field with our younger audience:

• Flexibility is important in this market – try not to limit yourself when making job applications to only one type of employer. One of the mistakes many people make when applying for roles is making assumptions. For example “only a financial firm would need someone with accounting experience” – this just isn’t the case, all businesses require a finance team to keep it running!

• Spread your search wide… my sister has her heart set on working for one specific firm, which is great and I totally admire her ambition and drive to make this happen, however you need to have a safety net. If you are applying for an internship or graduate program, get your details out there and don’t put all of your eggs in to one basket (or so the saying goes).

• Whilst what you wear to interview is important, it shouldn’t be the first thing on your mind! Try first thinking about if you know the answers to these questions: ‘What is the background of the company I am interviewing with?’, ‘How will I add value within this organization?’, ‘What does the company do?’ – When it comes to interviews preparation is KEY!!! So get studying up – do as much research as you can into the company.

• Now for a contradiction – what you wear to interview and how you present yourself IS important! First impressions are so important; as whether it is right or wrong, they stick. Make sure you are always in smart attire for an interview, it’s better to be slightly too formal than to come across to casual.

• Be confident in yourself and your own abilities! When employers are asked what they look for in a junior candidate or graduate the most common answers are ‘confidence’, ‘motivation’ and ‘a good attitude’. So make sure this comes through at any meeting you attend.

So to my sister, and to all graduates looking for work in the coming months – keep calm and good luck!

So you want to become an Expat do you?

Fri, 14 Sep 2012 12:22:01 GMT

As a recruitment consultant based in the Cayman Islands, I’m fortunate to speak to a multitude of candidates every day and explain to them about life offshore. It’s satisfying to be a source of information and advice for candidates who make initial and speculative enquiries in to a move overseas. Candidates who often know nothing or very little about a location or the opportunity in question. As I’m frantically typing this blog to escape to weekly happy hour drinks at Camana Bay, I forget and have to remind myself that not everybody wants to be an expat or appreciates the benefits of being an expat. Why wouldn’t you want to be an expat? The majority of people secure a new opportunity overseas because of the financial benefits. Certainly being based in Cayman and on the ground to assist and advise candidates who are exploring the move, it helps that the majority of consultants at CML have made the move over here ourselves and can use our first hand knowledge. We can empathise with you, we know you will miss family and friends and the normality of life back home, but it’s satisfying for me to talk to people about the rewards of being an expat – this could be financial rewards or the lifestyle benefits of being here. When you are considering a move offshore, you should definitely have more disposable income. Here in Cayman, we are still very much aware of the global economic crisis, but at least we can ‘escape’ it a little or at least be just a little bit further away from the doom and gloom and ongoing talks of economic constraints and Europe’s ongoing austerity measures.

When you move offshore, you can finally explore and indulge your inner child and need for adventure! You can explore and immerse yourself in a new culture and a different way of life. If you love your 2 week holidays, you can have a holiday lifestyle every weekend. I feel privileged that the work I do 5 days a week, means that I can be on holiday every weekend, go diving with turtles and stingrays, enjoy boat trips in the sunshine and drink cocktails at Sunset. Gone are the days of wishing away the monotony of UK working life and counting down the weeks to my next holiday. I am here and being paid to be here! (I will stop gloating now!). My parents lived in Singapore when they were younger and I loved to hear their stories of their time there. Just think of the stories for the children and Grandchildren of the adventures you could be having here…not to mention the comments you get on facebook when you post yet another picture of a stunning sunset over Seven Mile Beach (gloating again I know).

So in conclusion, if you have an expat hiding inside you, here are a few questions to ask yourself:

1. Are you currently working but wish to make more money and gain greater career satisfaction?

2. Do you yearn for a fresh challenge and exciting new surroundings?

If either of the above 2 questions are making you think, then give the CML team a call and we can talk it through with you. We have first hand knowledge of taking that leap and moving overseas. We look forward to speaking to you…

To find out if there is an opportunity for you, consult our current list of vacancies at www.cmlor.com

Increasing importance of Singapore as a location of choice for offshore law firms

Fri, 14 Sep 2012 05:29:04 GMT

The announcement that market-leading offshore firm Maples & Calder has just opened an office in Singapore is a very strong indication that the city-state is now viewed as a vital hub for business and legal services in Asia not just by the major onshore law firms but now also by the major offshore law firms. Other major offshore firms that already have offices in Singapore include Walkers and Conyers Dill & Pearman and it surely cannot be too long before the remaining offshore Magic Circle firms follow suit and establish a presence there.

http://www.maplesandcalder.com/news/article/maples-and-calder-singapore-376/

The War on Jobs…

Wed, 12 Sep 2012 05:38:24 GMT

I read this extremely interesting article by Nathan Kowalski – http://www.royalgazette.com/article/20120910/COLUMN05/709109994 – a contributor to Bermuda’s Royal Gazette Newspaper.

Essentially, a guy called Jim Clifton, Chairman of Gallup (www.gallup.com – provides data driven news based on US and world polls, daily tracking and public opinion research) wrote a book called ‘The Coming Jobs War’. In some of the paraphrased details below, it sounds an extremely pertinent read on the world’s current employment and socio-economic situation.

Nathan’s article begins with the line “Labour Day may have come and gone, but the war for jobs is just getting started.”

Gallup and Jim Clifton undertook a massive global survey. Perhaps their most significant finding was that the new principal aim of much of the world’s population was no longer peace, freedom, family, home ownership, God, democracy / politics or even a triumphant sports team, but about having a good, solid, stable job. As such, it’s likely that the main propaganda for politicians over the next generation will be about addressing the creation of ‘good jobs’ for their nation.

Mr Clifton summarized, “Of the seven billion people on Earth, there are five billion adults aged 15 and older. Of these five billion, three billion tell Gallup they work or want to work. Most of these people need a full-time formal job. The problem is that there are currently only 1.2 billion full-time, formal jobs in the world. This is a potentially devastating global shortfall of about 1.8 billion good jobs. It means that global unemployment for those seeking a formal good job with a pay cheque and 30-plus hours of steady work approaches a staggering 50 percent, with another ten percent wanting part-time work.”

Therefore the focus for the future is to get people back to work and into tangibly exciting opportunities – fundamentally for the youth. Clifton offers some additional guidance of what does and doesn’t work by way of job creation.

• Many leaders think they can “buy” job creation, but that doesn’t work. Sustainable jobs cannot be bought. Governments cannot create new sustainable jobs. “Shovel-ready” government jobs are not sustainable jobs that need to be created through entrepreneurial spirit and innovation.

• When entrepreneurial spirit is high and confidence is up, job growth follows. It is the emotional lack of confidence that holds business back, not rational reasons.

• “Even the best ideas and inventions in the world have no value until they have a customer… “Entrepreneurship is more important than innovation. Put another way, it’s far better to invest in entrepreneurial people than in great ideas.”

• “Gallup has determined that 28 percent of the American workforce is ‘engaged’, another 53 percent is ‘not engaged’, and a staggering 19 percent is ‘actively disengaged’. “Raising the percentage of America’s engaged employees from 28 percent to 60 percent would double innovation and double entrepreneurship. It would create the conditions necessary to suddenly overwhelm competing nations because engagement creates new customers.” In other words, workers who are excited about work, or have ‘good jobs’, are much more likely to be productive, and furthermore create other jobs, than people who are bored with their jobs. If this applies just to America, imagine the implications globally…

• “Gallup has found that children drop out of school when they lose hope to graduate. That’s it. Not because they’re lured into gangs or have to flip burgers to support their family. The reason they lose hope of graduating is because they don’t feel excited about what’s next in their lives. The moment they feel that despair about what is ahead, they start psychologically dropping out. Having no vision or excitement for the future is the cause of dropping out of school. Students need to be rescued at or before the moment they lose hope in the future. And when they aren’t caught in time, they don’t just drop out of school, they drop out of life.”

• Healthcare costs undermine small- and medium-sized business confidence — the key developers of job growth. Astronomically escalating healthcare costs could cripple ability to generate jobs. Healthcare inflation could become the private sector’s biggest fiscal drain.

• The major focus needs to be made on how to lower these costs before they escalate to the point of making employment prohibitive from a cost perspective. Right now the focus seems to be on “who is without” and “who pays for what” but really the focus should be on mitigating the never-ending cost inflation of healthcare.

• “The next big economic city empires will rise up where the most talented entrepreneurs migrate and stay. National policies on immigration of unusually gifted people to need to be changed or the country will lose the next generation of jobs.”

• “Every economy rides on the backs of small to medium-sized businesses. Every strategy about everything has to relate to small-business creation and acceleration.”

The international economy over the next few years will hinge almost entirely on ability to create and expand ‘good and sustainable’ jobs. For the Offshore world this is even more significant given that much employment is about attracting new businesses, employers and entrepreneurs to the Islands or fostering support and inspiration for local individuals to realize their dreams and aspirations. In Cayman, we don’t need to look any further than Don Seymour for an illustration of successful entrepreneurship with a Caymanian tilt. The war on jobs can’t be won without concerted support and working amongst all national leaders; political and private.

Relocating to paradise

Fri, 07 Sep 2012 06:21:04 GMT

Relocating to paradise . . .

It started with a holiday to visit some friends on the island back in April 2012 …. and has led to me relocating to Cayman! I have completed the first month of my new job with CML Offshore Recruitment and I am loving every minute.

The year round sun, amazing beaches and relaxed lifestyle enticed me to explore recruitment opportunities here, so I decided to see what opportunities might be available on the island. I spoke to a few local contacts and when CML was so highly recommended, I made contact with them to see whether they had any opportunities in the pipeline. Before you know it, I was packing up my life back home in the UK, shopping for summer work wear (not something I really had use for in England) and getting on a plane to Grand Cayman.

Of course, all of my friends and colleagues back home were incredibly envious and I have been barraged with requests to find people work out here with me! For the time being I am concentrating on settling myself into the lifestyle and the new job, but I am looking forward to welcoming visitors and new recruits to the island.

The move here has not just been motivated by the sunshine, but obviously the tax free earnings and amazing work life balance were a major factor in my decision making process. Having spent over 8 years travelling around the UK using increasingly unreliable rail services, the thought of a 5 minute journey to work and a just a short walk away from most of our clients was irresistible! I manage to get in a swim before work and catch the last of the sun at the end of the working day, which makes it still seem like a holiday to me.

I have already managed to secure a beachfront property to move into and setting up bank accounts, obtaining a driving license and all those things that take forever back home, were sorted in a matter of minutes. So whilst it’s true that there is a laid back lifestyle here, it doesn’t seem to impact on getting things the important things done.

So as you can tell, I don’t have a bad word to say about relocating and starting a new career with CML. If you are thinking of moving overseas . . . . go for it!

10 Words That Will Ruin Your Resume

Fri, 07 Sep 2012 05:49:39 GMT

I recently came across the following blog posted by Charles Purdy about what language to use and words to avoid when writing your resume. If your resume needs an overhaul here are some tips on how to avoid empty empty cliches, annoying jargon, and recycled buzzwords and getting it just right. Good luck!

1. “Salary Negotiable”

Yes, they know. If you’re wasting a precious line of your resume on this term, it looks as though you’re padding—that you’ve run out of things to talk about. If your salary is not negotiable, that’d be sort of unusual (still, don’t put that on your resume).

2. “References available by request”

See the preceding comment about unnecessary terms.

3. “Responsible for ______”

Reading this term, the recruiter can almost picture the C-average, uninspired employee mechanically fulfilling his or her job requirements—no more, no less. Having been responsible for something isn’t something you did—it’s something that happened to you. Turn phrases like “responsible for” into “managed,” “led,” or other decisive, strong verbs.

4. “Experience working in ______”

Again, experience is something that happens to you—not something you achieve. Describe your background in terms of achievements.

5. “Problem-solving skills”

You know who else has problem-solving skills? Monkeys. Dogs. Mice. I once saw a YouTube video of an octopus that figured out how to open a jar. On your resume, stick to skills that require a human.

6. “Detail-oriented”

So, you pay attention to details. Well, so does everyone else. Don’t you have something unique to tell the hiring manager? (Plus, putting this on your resume only makes that accidental typo in your cover letter or resume all the more comical.)

7. “Hard-working”

Have you ever heard the term “Show; don’t tell”? This is where that might apply. Anyone can call himself or herself a hard worker. It’s a lot more convincing if you describe situations in which your hard work benefited an employer (and use concrete details).

8. “Team player”

See the preceding comment about showing instead of telling. There are very few jobs that don’t involve working with someone else. If you have relevant success stories about collaboration, put them on your resume. Talk about the kinds of teams you worked on, and how you succeeded.

9. “Proactive”

This is a completely deflated buzzword. Also, again, show; don’t tell.

10. “Objective”

This term isn’t always verboten, but you should use it carefully. If your objective is to get the job that you’ve applied for, there’s no need to spell that out on your resume with its own heading. The “Objective” section of a resume is usually better replaced by a summary of your background and achievements, and a description of what you have to offer an employer. An exception might be if you haven’t applied for a specific job and don’t have a lot of experience that speaks to the position you’d like to achieve.

Preparing for interviews . . .

Wed, 29 Aug 2012 06:10:41 GMT

One of the most nerve-wracking parts of any Job Search is the interview process. The job market is definitely getting more competitive, so making a positive and lasting impression during your interview is more important than ever before! You have been selected for interview based on your skills and experience, so don’t ruin it by making a bad impression at this stage.

Personal presentation

It is said that you have 10 seconds upon meeting someone to make your first impression. You have been selected for interview based on your skills and experience, so don’t ruin it by making a bad impression at your interview

– dress appropriately for the interview . . . it sounds obvious, but if you are interviewing for a position in an office, wear office attire; a smart dress, suit, skirt or trousers are all fine and it is always better to be overdressed than under-dressed. Minimum jewelry, smart polished shoes and nothing too revealing.

Something we hear regularly from our clients in Cayman is that candidates have obviously made the effort to dress up in their favorite outfit, however it really isn’t appropriate for day time office wear. It is actually just as bad to look like you are ready for a night out as it is to have made no effort at all.

– Good time keeping is essential as employers will make a judgment on your future commitment based on your timekeeping at the interview. Make sure that you leave ample time to get to your interview and we suggest arriving a few minutes early. However, don’t turn up half any more than 10 minutes early as it can be awkward for clients, who have other commitments or may be interviewing other candidates.

– Ensure that your cell phone or Blackberry is switched off completely . . . or better still, leave it at home! Using a cell phone or BlackBerry during an interview only indicates to the interviewer a general lack of respect and good judgment, and no matter how informal your interview, it would indicate to your prospective employer that if hired, you would probably be using your phone for personal calls and emails during working hours.

So make sure before your interview that your phone is switched off, or at the very least that it is put on mute and won’t be vibrating in your bag or pocket (vibrating is just as bad as a ringtone.)

– Some clients will Google prospective candidates so please make sure that your facebook and other social media sites are managed correctly. We aren’t suggesting that you delete your profiles or pictures, but it’s better to be safe than sorry! Ensure that your profile is set to “private”, so that your information cannot be viewed by anyone other than your friends.

Research

Before you go for your interview do as much research as you can; you should always find out everything you can about the company and if possible who’s interviewing you, and also go through your resume, so that you can think about your skills and qualifications and how they are suited to the position you are interviewing for. The most important thing you can do in an interview is to convince the interviewer that you have the right skills and requirements for the job.

Also, ensure that you have prepared details of referees from your previous positions to provide to the client. At CML, we require written references from your two most recent employers and we will follow these up with a call. If you know that your old boss has left the organization, make sure that you have researched where they are now and have contact details to present to the client.

Answering and Asking Questions

Always remember that the interview is not only a chance for the interviewer to assess if you are the right person for the job, but it is also an opportunity for you to see if the job and the company are the right fit for you. During the interview you should make sure that as well as answering all of their questions you also ask your own, when appropriate of course. Ask questions that show you’re interested in the position and want to learn more about it, such as ‘What are the main tasks and responsibilities of this post?’. Also never sell yourself short, make sure you are getting across you strengths and attributes and why you are right for this role.

Don’t ask questions such as ‘how long will I have for lunch’ or ‘do we leave early on a Friday’ at this stage. It gives the impression that you aren’t interested in the job, but just about how it might impact on your personal plans. Of course for many people – particularly those with childcare arrangements to think about – these are valid questions, but make sure you explain why this is important information for you.

You will often be asked about your strengths and weaknesses, so prepare this in advance. It is important to be able to identify your weaknesses, but try to turn them into a positive, for example you could say that you tend to be a little quiet and reserved at work so say that you are a little shy – but once people get to know you, they soon see that you are loyal, discreet and a good listener.

Confidence and honesty are so important. If you are asked a question and you don’t know the answer, admit that rather than making something up that will more than likely be completely wrong . . . the interviewer will be more impressed by you this way! Equally, if you left a previous job under a cloud, you need to think carefully about how to address this at interview. You will always be asked why you moved on from one company and often the answer will be to progress to another role. However if there were any issues in your old job, be honest (employers will invariably check up on this) but also if you had a problem with your previous boss, don’t say that you hated your boss and couldn’t work with them any longer! We all have to work with people we wouldn’t necessarily choose as our friends, so think about another way of communicating the issues that existed.

And finally, remember that it is not just the hiring manager you meet that will be assessing you. When you meet with a consultant at CML, this is also an interview, so all of the above advice applies to your meeting with us as we will be recommending you to our clients. Equally, when you have a client interview, be polite and courteous to everyone you meet whilst you are there; from the receptionist to the CEO, as one negative experience can impact on your opportunity for success!

Can women “have it all” in Cayman?

Mon, 20 Aug 2012 06:28:40 GMT

Tenured Princeton Professor Anne Marie Slaughter unleashed a maelstrom of controversy with her recent Atlantic magazine article entitled “Why women still can’t have it all” . Women’s groups reacted angrily but Ms. Slaughter stood by her contention that balancing a successful career and a family was an insurmountable task.

Nancy Lewis, CEO of Walkers Management Services

I wondered if the situation was any different for career women in the Cayman Islands, so I invited Nancy Lewis, CEO of Walkers Management Services and one of the Cayman Islands’ most prominent female executives, to discuss her views on the challenges for women balancing family and professional life.

SM: Anne Marie Slaughter believes that the conflicts between a mother’s family and professional life are insurmountable. I presume you disagree! Tell me how you have been able to prove her wrong.

NL : I disagree. You have to be prepared to make compromises. The most key ingredient is the right partner. I can’t give enough credit to mine. If he didn’t share the load and wasn’t as active in all aspects of the parenting and the household then it wouldn’t work. And that’s where I think we are exceptional, because we have a very strong partnership that respects that each of us has a career and we try to really work with that and make sure that works for the kids. When we first started out here we made the cardinal rule that one or the other of us had to be on the island at all times, and that has meant pushing back on travel sometimes or having to reschedule.

SM: In some respects do you think it is easier to be a working mum in Cayman than it is in other jurisdictions?

NL: Yes, I do. Nowhere else could I work in the job that I do, and get called because there’s something important at school, or all of a sudden my son has to go to the doctor, and run out and be there in five minutes. Let’s face it, if I was still working in New York or London that would just not be possible. The lack of commute and the closeness of everything does make it easier.

SM: I’m not sure how much pressure the Atlantic editor put on AMS to have a sensational title, because the title was the most sensational part of it. The article itself was filled with nuance. It seemed to me that she was almost saying not so much that you can’t do it but that you can’t do it without losing your mind.

NL: I disagree. And I think how is it any different for [husband] John, or you? Do you not have to make compromises? Do you not give up some personal time? I don’t feel that more compromises are asked of me than are asked of my husband. And I think the boys are totally worth it. You know, one day they’re going to be gone, and I’m going to have tons of time to sit with John to read a book!

SM: You must have, at some point, thought about boarding school as an option. Was that an easy one to take off the table or was it a tough decision?

NL: When we moved here we were very much of the mind “It is not my culture and it is not my desire to send them away to boarding school” because I think the window of time that I have them with me is very small as it is. I understand other peoples’ decisions, and again that’s up to them. Does that mean that you have to continually re-assess every year? Is it still working? Does it still make sense for my children? Yes, it does. Right now I’m comfortable with the education they’re getting, the well-rounded approach that they’re getting, and the security of being able to come home if they’ve had a bad day and talk to mum and dad about it. It’s hard enough to get that out of boys without having to do that over the phone or on a face-time call.

SM: When I first started reading the article it sounded as if Anne-Marie Slaughter’s boys were pre-schoolers, but later on she mentions that one of them is 6 ft tall. Do you think Anne-Marie Slaughter needs to have more faith in her children’s ability to be independent?

NL: Well, I think Anne-Marie Slaughter probably needs to work at getting her kids independent if they’re 16. There’s a difference between having visibility and being there so that they can talk to you, and doing everything for them.

My children are actually at hockey camp in Vancouver right now so they’re staying with my sister there. And she said to me “Oh my God, these children are such a pleasure”, she said “I don’t have to ask them to do anything”. I’m really proud of that, obviously they probably wouldn’t be that perfect for me at home, but the point is they know how to clean up after themselves, they can clean the dishes, they can cook.

One of my sisters’ sons just started University and he called my sister and said “Mom, half the guys here don’t know how to do a wash, they’ve never made their own bed, they have no concept of how to cook” and I think, how have their parents prepared those kids to go out in to life? I like to think I am giving my boys good exposure so that when they go out and get married they’re going to be a true partner to their wives and ensure that they’re both in it as a team, not with pre-defined roles.

SM: Do you see many parallels between management and parenting?

NL: Absolutely. I have always said that, in my opinion, being a good manager has a lot to do with being a good parent. And the easiest parallel I think is that anytime you are dealing with people, whether it’s your children or whether it’s staff, I think you have to approach it that at the core they all want to do well. And your job is to enable them to do well. If you have to steer them and correct them on a path, you have to do it in such a way that you do not destroy their self esteem. And I think that’s what every parent always tries to do, so why is that any different in a working environment?

And when somebody isn’t working out, the primary goal is to get them to understand that themselves. That perhaps this role, this position is not suited for them, not that they are a failure. And I think the patience and the ability to listen and hopefully to not be judgmental as people are telling you their issues or their problems. The same as when your two year old comes up to you and is having a fit because his little toy has broken, it’s the same type of thing that even if that member of staff if coming to you with something you think is incredibly trivial, that you give them the respect and time of day to listen to them because that is important to them.

SM: Would you consider yourself a feminist or is the term passé? It strikes me as being passé just because the idea of women’s equality just seems to me such a settled issue. Am I naïve?

NL: It’s interesting, because from my perspective, I wouldn’t consider myself a feminist, I’ve just always expected to stand on my own credentials and whether I’m female or male is irrelevant. And to be fair, maybe because that’s always been my approach, I have never hit a female barrier where I have felt that being a woman has been a disadvantage for me. I’m obviously a pretty strong personality, so I speak my mind and if somebody was acting inappropriately, I would point that out, but I have never hit that. But I wonder if I am slightly naïve that it’s still out there.

SM: Do you think your attitude towards feminism, and the fact that you’ve never really seen gender as an advantage or disadvantage, do you think that mentality is an advantage in itself because if someone treated you a certain way, you wouldn’t say “It’s because I’m a woman”, you found another way to deal with it?

NL: I think not looking for reasons to fail but instead looking for ways to achieve is always an advantage in life. It’s one of the things I really try to instill in my kids is very much ‘the cup half full’, you know, always be taking that creativity, always be looking at how you approach things. People prefer to be around positive people.

SM: Anne-Marie Slaughter’s closing point was that employers need to do more to allow women to succeed in balancing family and work-life. Do you think there’s anything that employers could do specifically in the Cayman Islands or beyond that would achieve that?

NL: At the senior levels, no, I should be working just as hard and doing everything I do whether I was male or female. Whether I have kids or don’t have kids. But at the level of day-to-day work, we should facilitate that because it’s in everybody’s best interest.

Now, that said, there are easy things, obviously, that should be accommodated. If a professional woman has a baby and wants to come back, should they be given private place so they can express so they can continue nursing? Yes. I mean those kind of things obviously should be accommodated.

If you’re not looking at the senior executive level, or senior management level, I don’t see why we can’t enable job-sharing here. But it’s very difficult with the work permit situation. I had a lot of highly qualified women working for me in North America, who after they had kids, wanted to job-share. It was no more costly to the employer. It helped them maintain their skills. They were happy, productive employees. They felt like they had the perfect balance. So I would love to see us be able to do that here.

New Types of Permits in the Cayman Islands

Fri, 17 Aug 2012 06:37:17 GMT

The amendment to the Immigration Law has come into effect in June 2012. It introduces major changes to the immigration rules on the Island by creating a new category of permits for investors who wish to live in the Cayman Islands as well as introducing new rules for business visitors.

The new Certificate of Permanent Residence for Persons of Independent Means now allows the holder to work in the Cayman Islands and eventually apply for Caymanian citizenship, without having to gain the previously required eight years of ordinary residence. To qualify for the certificate, applicants need to invest a minimum prescribed sum in developed real estate and be financially able to maintain themselves and any dependents. The applicants will also be required to demonstrate that they and their dependants are in good physical health and of good character. Details shall be published in new regulations in the upcoming months.

A Substantial Business Presence Residency Certificate is the second major change in the Immigration (Amendment) Law 2012. Applicants must either have a minimum 10% participation in an approved business with a substantial presence in the Cayman Islands, or must be employed in a senior management capacity in a business with a substantial presence in the Cayman Islands. An Approval in Principle Certificate will be available at discretion of the Chief Immigration Officer for six

months for applicants who have not yet met the requirements but who expect to meet them within the six month period.

Visitor’s Work Visa is a new status available for persons employed outside the Cayman Islands who wish to visit the Island for up to five days in order to engage in commercial activity. These persons are now allowed to apply for the Visitor’s Work Visa at their arrival at Owen Roberts International Airport in Grand Cayman. The Cayman Compass reports that Chief Immigration Officer Linda Evans said the idea behind the new measures was to assist merchants and others who may need a permit quickly at a time when the Cayman Islands Immigration Department is not open.

5 questions great candidates ask

Mon, 13 Aug 2012 06:50:31 GMT

By admin on Apr 07, 2020

I really liked this article by Jeff Haden, it is relevant to anyone who is going to be in a position of influence within a company, and alternatively it can be used by managers to take an introspective look at how they value certain aspects of their employees’ performance – either way it’s a useful read. I have summarized the questions below, but click the link to the main article to understand why they are good questions.

What do you expect me to accomplish in the first 60 to 90 days?

What are the common attributes of your top performers?

What are a few things that really drive results for the company?

What do employees do in their spare time?

How do you plan to deal with…?

http://www.inc.com/jeff-haden/5-questions-great-job-candidates-ask-interviewers.html

Are executive pay schemes effective?

Mon, 13 Aug 2012 06:46:30 GMT

A thought provoking article by LSE Professor Eleanor O’Higgins in the latest issue of Accountancy Ireland. (This is a link to the e-version of AI, so it may take some time to load). For anyone that’s interested, here is my take.

I don’t disagree with Professor O’Higgins’ answer. I disagree with her question.

In effect she is asking “is executive pay warranted?” rather than “is it necessary?”. I don’t think anyone would argue that paying someone ten times their salary would make them work ten times harder. But the employment market is subject to the same rules of supply and demand as any other market. The price of anything is not determined by some objective intrinsic value, but by the amount the seller (in this case the executive, who is selling their labour) is willing to accept. The scarcer the item, the fewer the sellers, and the higher the price they are able to charge. With many buyers and few sellers, the only limit on the price is the buyer’s budget. In the case of public companies, that is hardly a significant restraint.

Companies pay large sums of money for executives not primarily because they want to motivate them or feel they deserve a large sum, but because they understand that picking the right candidate over the “wrong” one could mean the difference between them being the next Apple or the next Amstrad. That difference dwarfs any difference in the candidates’ desired pay. The more they offer, the larger a pool of candidates they will have to chose from, the more candidates they can chose from the more likely they are to get the best one.

Companies are competing for a tiny pool of executives with successful track records. The bigger problem, and to my mind the likely reason for the low correlation between executive pay and share price, is that an executive’s track record is a function of a number of variables, among which their own performance may or may not rank highly. Google was not phenomenally successful simply because it had a highly effective CEO. To a degree it was the right product in the right place at the right time. The CEO did not write the code that made Google successful and I doubt he had the idea to monetize searches via keyword sponsorship that led to the exponential increase in Google’s share price. Even if he did, is there another industry in which one good idea can turn out to be worth trillions of dollars?

Another issue is that very successful executives normally accumulate significant wealth. Picture if you will an incumbent executive with a successful company that has $10m in the bank and an annual salary of $1m. Studies have shown that moving job is one of the most stressful experiences a human being can encounter. How much more stressful is it when thousands of shareholders and staff are banking on you to do a better job than their last (presumably failed) chief executive could? How much would the aforementioned homo executivus (to coin a phrase) need to be paid to leave the comfort of his successful job with Company A to take on the potentially poisoned chalice of Company B? With ten mill in the bank a better option for your health would be to simply retire. The premium is not going to be another $100,000 a year, I can tell you that. It could be multiples (to account for the risk that he may not last a year and suffers irreparable harm to his reputation).

One reason, not mentioned in the article, that executive pay has been on the rise for several decades is that it has become more common for Boards to seek an external candidate moving laterally than an internal one moving upwards (precisely because an internal candidate naturally lacks the track record of chief executive success). For the company, the perceived reduction in risk from an exec with a track record is significant, and thus worth paying a premium for. For the candidate, the degree of risk involved in a lateral move is magnitudes higher than in an upwards one. Hence the pay required for someone to move companies would be expected to be magnitudes higher, and it is.

Thus executive compensation is a vicious spiral more reflective of the needs of the executive than their worth. In other words, it is a seller’s market. Can the recent spate of shareholder rebellions and executive defenestrations reverse the flow? Not likely.

Be Rewarded for Living in The Islands

Thu, 09 Aug 2012 09:12:30 GMT

As if living in Grand Cayman in the beautiful Caribbean wasn’t reward enough, being a resident here gives you access to great deals at many local sites, restaurants and hotels, often with huge discounts off the normal price.

Just mention you’re a resident and your boat / jet-ski trip out to Stingray City will instantly be cheaper, for example Red Sail Sports give 10% off every trip for residents, Fat Fish jet ski tours have the same discount. Take a trip in a submarine to see all the underwater wildlife without getting wet with a 30% discount or swim with dolphins for only half the normal rate!

Want to learn to dive? Cayman has some of the best diving in the world and many dive schools offer 50% off the normal rates to residents. Sunset House has resident rates as low as just US $220 to become qualified and once you are certified, you can get reduced rates on hiring dive gear and going on boat dives!

Discounts for residents apply to amazing restaurants and well-known attractions as well, including the fun and family-friendly Turtle Farm and the beautiful and relaxing Queen Elizabeth II Botanic Gardens, but the rewards aren’t limited to this.

Even people who live in paradise need vacations, and because where we live is so beautiful we don’t need to leave, so we go on Staycations. This is the perfect opportunity to make the most of the stunning island you live on. Stay at a resort on the famous Seven Mile beach or hire a private villa in the secluded East End for a very low price.

For more information on resident rates across the island, have a look here:

http://www.compasscayman.com/staycation/Default.aspx

One good turn deserves another!

Wed, 08 Aug 2012 12:26:52 GMT

Sinead Byrne, AVP Accounting & Financial Services presents Ben Brooks with a referral bonus for an Apple product at a recent CML Drinks event.

Ben recommended CML Offshore Recruitment to his friend Trevor Spinney, when Trevor was looking to make a career move a few months ago.

“Leaving Bermuda I wanted to explore other offshore locations but wasn’t quite sure where to start. My friend Ben suggested I speak with Sinead at CML and it proved to be a great decision. Sinead was very professional, responsive and overall a pleasure to work with. Living and working in Grand Cayman has been a great move and I owe the thanks to CML” explains Trevor.

To find out more about how you can take part in our referral program, click here.

Come and live in the Cayman Islands!

Fri, 03 Aug 2012 04:21:22 GMT

The thing I love most about living in Cayman is… everything! What’s not to love? Well – I could probably say iguanas, chickens, birds and fish (all animals that scare the life out of me), but they’re pretty easy to avoid!

The Cayman Islands is one of the most beautiful places I’ve ever been. Surrounded by a sparkling, turquoise ocean, it is truly spectacular. Nothing beats finishing work after a long day, and driving the 10 minute commute home, with a view of the sun setting over the ocean to my right.

I often forget how lucky I am to be here. I’m working on an island in the Caribbean! My office is across the road from the beach. At lunch time I’m able to go for a walk along the water’s edge, and soak up the sunshine of yet another gorgeous day. You truly have to experience it to believe it.

I enjoy my job, I have a tax-free salary, and I have an amazing work/life balance. I really couldn’t ask for anything more!

***************************************

Are you considering a move to the Cayman Islands, but aren’t sure where to start? Want to know the secret answer? Start here – CML Offshore Recruitment.

We recruit for the financial services and legal industries, as well as IT, trust, administration and support services. If you have completed your accountancy designation (CPA, CA, ACCA etc), have a minimum of 3 years PQE in the legal field, or 2 years post graduate experience in the IT sector, then forward your CV to us and one of our consultants will be in touch to discuss your application.

We are also keen to speak with Legal Secretaries, Paralegals, Banking and Trust professionals. If you have experience within these types of roles, your dream job in your dream location could be at your fingertips!

Check out these videos and see for yourself what an amazing place the Cayman Islands is!

South Sound
Seven Mile Beach (one of the most beautiful beaches in the world!)
Stingray City (Our most popular video!)
Welcome to the Cayman Islands

Brush up on your interview technique!

Fri, 20 Jul 2012 09:28:53 GMT

One of the most nerve-wracking parts of any Job Search is the interview process. As recruiters we are always being asked for advice on how to interview, so today I thought I would blog a few tips!

The most important thing you can do in an interview is to convince the interviewer that you have the right skills and requirements for the job. It may sound obvious but make sure you dress smartly and appropriately and leave plenty of time to get there so that you are not late; arriving 10 – 15 minutes early for an interview is highly recommended. It’s amazing what first impressions can do!

Always remember that the interview is not only a chance for the interviewer to assess if you are the right person for the job, but it is also an opportunity for you to see if the job and the company are the right fit for you. During the interview you should make sure that as well as answering all of their questions you also ask your own, when appropriate of course. I would suggest asking questions that show you’re interested in the position and want to learn more about it, such as ‘What are the main tasks and responsibilities of this position?’. Also never sell yourself short, make sure you are getting across you strengths and attributes and why you are right for this role.

I know that my least favorite question during an interview is, ‘What are your weaknesses?’, not because I don’t have any, as everybody does, but rather that I don’t want to draw attention to them. What you need to try and remember is that every negative can be turned into a positive, have a look at the example below:

How do you handle tension/stress? Explain how you avoid stressful situations, and if not how you deal with it, for example: exercising and going to the gym.

How do you take direction? Show by giving examples of how you can be briefed and finish the task without unnecessary disagreements/complications

Do you prefer working with others or alone? Explain how you can work well in both situations.

On the flip side, it always amazes me how many people answer the weaknesses question with ‘I don’t have any’… really? Everyone has weaknesses, whether we like to admit it or not and I can assure you that the interviewer is not looking to hear that you don’t have any.

Finally I cannot stress enough how important confidence and honesty are, no matter what situation you come in to honesty is always the best policy! If you are asked a question and you don’t know the answer, admit that rather than making something up that will more than likely be completely wrong, trust me the interviewer will be more impressed by you this way!

To give you an example, at my very first interview I was asked about an article in the Financial Times… well needless to say I did not have a clue what he was talking about, I had never picked up a copy of the FT in all my life (up until that point obviously)… and so of course this made me panic but in the end I knew this was not something I could ‘blag’ my way through and so I simply admitted that I had did not read the FT, but assured my interviewer that this was something I planned on doing to get myself up to speed before starting with them! Lo and behold it worked, when I was given my interview feedback and offer with the company, I was told that the interviewer really appreciated my honesty and knew I would be a good fit for the team.

This is obviously only a few key tips on interviewing but if you would like any more advice or information please contact me!

BVI – the real Caribbean deal

Fri, 29 Jun 2012 09:44:19 GMT

Having just returned from a week-long business trip to the island of Tortola in the British Virgin Islands, the most significant impression it left on me was its scenic beauty. Like Cayman, the ocean around the BVI is also a beautiful turquoise colour, but whereas a lot of the residential areas around Seven Mile Beach in Cayman now more closely resemble pristine South Florida suburbs, in contrast Tortola seems more like the real Caribbean deal – rustic and rugged, with its populace scattered widely across the island. The majority of houses are perched high up the sides of the lofty hills which dominate the scenery, with residents enjoying spectacular views across to the adjoining islands which are only a matter of a few miles away and very clearly visible.

The reputation of BVI as the sailing mecca of the Caribbean is quickly evident as you travel around, with hundreds of boats moored in the various marinas of Tortola including Wickhams Cay, Nanny Cay and Soper’s Hole to name just a few, all of which have various bars and restaurants where one can happily while away a few enjoyable hours watching the boating fraternity coming and going.

And whereas Cayman mainly only has Seven Mile Beach or Rum Point to offer by way of beach life, Tortola has a number of small intimate bays and coves where you can go at weekends to unwind. And if you are wanting to get off the island for a change of scenery, you can just jump on one of many daily ferries for a trip over to neighbouring islands such as Virgin Gorda, Jost van Dyke or Anegada, or even pop across to the US Virgin Islands of St John or St Croix. And San Juan, the bustling capital city of Puerto Rico, is just a half hour plane journey away.

Don’t expect many trendy bars, restaurants or shops in Tortola however, the island is decidedly less sophisticated and advanced than Cayman with regard to its service industry.

But not being noted as a fashionista, this was not really something that detracted from my enjoyment of the BVI and I for one will definitely be returning there in the future to once again enjoy its spectacular scenery and sign up for some sailing lessons.

If you want to find out more about BVI, check out www.bvinewbie.com .

The Beauty of Bermuda

Fri, 29 Jun 2012 09:40:06 GMT

Following on from Tiff’s blog last week, comparing Cayman to Bermuda, I thought I would blog on Bermuda in particular as we are recruiting for a number of opportunities there at the moment. Often it just takes a few simple questions to help you to decide if you could actually live and work there.

So here are some further basic facts and figures on the beautiful islands of Bermuda:

Bermuda is 21 miles long, consisting of 9 “parishes” as detailed below:

*Sourced from bermuda-attractions.com .

Where would you live?
The most popular places to live are Pembroke, Warwick, Southampton and Hamilton. A typical commute from Southampton to Hamilton by road would be 25 minutes but you could jump on the Ferry and cut the commute to 15 minutes. Bermuda only allows one car per household, so a scooter is a popular option to skip through the traffic and public transport is great – pink buses travelling in to the city and blue buses travelling out.

Money, money, money…
Consult our specialist CML consultants to find out what salary you could command according to your individual skill set, and whether your skill set is in demand at the moment. Alternatively, look at our list of jobs in Bermuda for an idea of salaries available.

The payroll tax from your salary is only 5.25%(maximum) so there are definite tax benefits to working in Bermuda. Typical deductions are payroll tax, social insurance and health insurance.

Spend, spend, spend:
An average 2 bedroom, 2 bathroom house (fully furnished) can cost anything from $2,500 to $4,000 a month to rent. For some up to date costs of rental properties, a really good website is www.bermudarealty.com where you can contact agents there and inquire directly. An average electricity bill is $300 a month for a 2 bed, 2 bath property. There is no gas, so no gas bills! Water is inexpensive as rain water is collected in tanks for households to use. Apparently it is cleaner than your typical tap water in London!

Buying and selling your things is easy as you can consult www.emoo.com – grab yourself a bargain! Shopping in the supermarkets is easy as Lindo’s is one of the biggest supermarket chains there plus you can hit the clothes shops of Marks & Spencer and French Connection.

Something for the weekend:
The best beach in Bermuda is Horseshoe Bay (in Southampton). If you love the outdoors and outdoor pursuits, you will love Bermuda!

Water Sports: The clear, warm water around Bermuda makes it an excellent place for snorkelling. For those who are interested in diving, Bermuda offers the beautiful coral reefs that are typical of warmer waters and arguably the best wreck diving in the world. With approximately 400 wrecks scattered around the islands, there is always something new to discover. Shore fishing, reef fishing and deep sea fishing are also popular pastimes. Other water sports include sailing and kayaking around the many islands.

Sports Clubs: Bermuda offers golf enthusiasts 9 different courses to choose from. They range from par 3, nine hole courses to full size, eighteen hole courses. For those who prefer racquet sports, there are a number of different clubs and facilities available. For squash, there is The Bermuda Squash Racquet Club and the Moresby Squash Club. For tennis, there is the Bermuda Lawn Tennis Association as well as courts at a number of different resorts, some of which are open to the public. Bermuda also has an outdoor, commercial climbing wall and lots of cliff tops and hills for mountain biking.

And finally, a few more interesting Bermuda Facts:
The name of the traditional Bermudian dancers are called Gombeys.
The name of the national paper is the Royal Gazette.
It’s true that the common business attire for men is Bermuda Shorts and knee length socks. (Photo courtesy of bermuda-attractions.com )

What more do you really need to know??
Speak to our CML Consultants in IT, Financial Services, Legal, and Trust/Admin and Support who can advise you on whether you can really make that move. We would love to find you your next opportunity and explore Bermuda as an offshore option for you.

What we do…

Fri, 22 Jun 2012 09:54:32 GMT

We handle permanent and temporary assignments across the full spectrum of the offshore financial and legal services industry. We do tend to have our core positions that are available most regularly, for example Personal Assistant/Secretary, Compliance, Fund administrators, Corporate Administrators, Accounts Assistance, all legal support roles and administrators. However if we are to keep it simple I personally like to think that we cover all roles within an office environment, in any industry.

Although one of the busiest teams in CML for candidate numbers and job vacancy volume, we still pride ourselves on personal service to both clients and candidates. We take the time to understand the client’s business model, their philosophy, corporate culture and their short, medium and long term goals. Clients appreciate our approach which is why many offshore firms have selected CML as their preferred recruitment partner. This is something we have to bear in mind when we are short-listing candidates. Unfortunately it isn’t always enough to be a quick learner, and eager to work, we really do have to take into account the criteria the clients are looking for.

When it comes to candidates, our approach is to treat each person as an individual. We are familiar with typical career paths and IT disciplines but we try to take the time to get to know you, your career history, your personal circumstances and your career and lifestyle goals. We will not waste time with unsuitable roles in unsuitable places. We will give you frank advice on the pros and cons of each firm, each role, and each location. That is why the vast majority of current and previous candidates said when asked that they would recommend CML to a friend or colleague (See testimonials from our candidates online).

Our candidates come from many industries and skills sets, and we help both expats and local candidates alike. Many local candidates assume we are only a temp agency and will only help expats. That’s not true .

In fact we have placed at least 1 Caymanian candidate in either temporary or permanent employment every single week of the year since team TASS was formed in 2010! The current rolling figures for 2012 are at 56 Caymanians placed in roles on the island. I know this doesn’t make those still looking for work feel any better, but it shows that with a lot of leg work from CML, applying for the right roles that match your skill sets and your hard work and interview preparation, we can get there.

Check out the CML website to see the current roles for team TASS or feel free to give us a call on 345 949 1345.

Insolvency in the Caribbean

Fri, 15 Jun 2012 09:59:46 GMT

The Caribbean and in particular, Cayman, Bermuda and the British Virgin Islands, has a well established insolvency and corporate recovery sector. Many of the big 4 firms and second tier accounting firms have a presence in the region, as well as a number of large independent insolvency specialist firms.

Insolvency practitioners and their staff are mostly Chartered Accountants from commonwealth countries with extensive experience in insolvency. Many candidates also have an insolvency qualification such as the IPA, JIEB or INSOL. Similarly the offshore law firms offer qualified and experienced attorneys with extensive litigation and insolvency experience.

Offshore insolvency and liquidation work is generated mainly by the financial services industry, such as hedge funds, international business companies (IBC’s), captive insurance companies and reinsurance companies, all of which operate in any number of countries globally. Appointments require dealing with distressed companies which can include helping them restructure their operations; overseeing their liquidation; or tracking down and recovering misappropriated assets both offshore and offshore.

The offshore world is an exciting place for insolvency and corporate recovery professionals offering the chance to work with complex, multi-faceted liquidations and insolvencies and providing a comprehensive range of solutions to meet client needs.

Are you a qualified Chartered Accountant with 2 or 10 years insolvency or corporate recovery experience? Opportunities exist for newly qualified candidate’s right up to partner level!

Enjoy superb quality of work, fantastic work life balance, a tax free salary, benefits & bonus package in a beautiful sun drenched Caribbean island. Contact us today for more information on insolvency and corporate recovery positions in the Caribbean.

7 habits for effective job hunting

Wed, 13 Jun 2012 10:04:25 GMT

I read this article today on Forbes that discusses the anxieties job hunters feel and experience when being involuntarily out of work.

http://www.forbes.com/sites/womensmedia/2012/06/12/bouncing-back-from-job-loss-the-7-habits-of-highly-effective-job-hunters/

The article is very well written and clearly the author, like me, has had to deal with people in this situation. But I can promise that what Margie Warrell advocates is absolutely true. I have summarized the 7 points below but I urge you to read the article as it may help you understand and assist those that find themselves in this position. I especially feel points 6 and 7 are key!! So don’t sit on the couch with the remote and a bag of chips – opportunities can be found in the strangest of places!

Stay Future Focused
Don’t let your job status define you
Prioritize self care
Surround yourself with positive people
Tap your Network
Treat finding a job as a job
Extend Kindness

Position Vacant: Apply Now!

Sat, 09 Jun 2012 09:36:47 GMT

Just a few tips on what to do when applying to CML for jobs in the Cayman Islands via email or in person!

When applying for a position by email:

If you are applying for a position via email, always write a short cover letter in the body of the email (even if you have attached a cover letter as well). If you just send an email with your CV attached (and no text in the email) it can be seen as unprofessional, and some companies may not even bother to open the attachment.

Write a short paragraph introducing yourself and the reason for your email. As this is the first impression that a potential employer will have of you, make it a good impression! If you have attached a cover letter to the email, just say something like:

Dear Sir/Madam,

My name is ______, and I am interested in applying for the position of ______.

Please see attached CV and Cover Letter.

I thank you in advance for your consideration.

Kind Regards,
_________

In your attached cover letter, introduce yourself and explain why you feel you would be the perfect fit for the position you are applying for.

When delivering your CV to a company:

Again, first impressions are lasting impressions! You want to make sure that you are remembered for good things!

Dress appropriately. If you are visiting an office, dress smart (either smart casual or office-wear). When you enter the office and speak to a company representative, stand up straight. When you are spoken to, reply in a clear voice. Exude confidence!

If you are applying for an advertised position, explain this to the company representative. Say something like “Hello, my name is ______, and I would like to apply for the ______ position that you are currently advertising. Is there someone I could speak with about this?” If there is someone available to speak with, shake their hand when they come over to see you and introduce yourself again. Maintain eye contact (not in a freaky way)! Now unfortunately I won’t be there to help you figure out what to say next, but just remember to have confidence in yourself, speak clearly and smile!

If no one is available for you to speak with ask for the person’s name who would be overseeing the applications, and ask if you are able to leave your CV ( and cover letter!! ) for their attention.

Now you also have the name of someone you can call in the future to speak with about the status of your application!

Some companies may not get back to you straight away. Leave it about a week before you start following up. As you can imagine, there might be a lot of people who also feel they are the ideal candidate for the same position that you applied for!

In case you didn’t get the main messages of this blog I will summarize them for you:

First impressions are key!
Write a cover letter introducing yourself and explaining why you feel you are suitable for the position you are applying for.
Be professional at all times. Professionalism means something different to each person, figure out what it means to you!
Dress appropriately if you are hand delivering your CV!

In case you were wondering, you can email your CV to CML Offshore Recruitment: info@cmlor.com

You can hand deliver your CV to: The CML Office, Grand Pavilion Commercial Center, West Bay Road.

If you get lost, give us a call! + (345) 949-1345

Developments in information security – keeping the island secure!

Fri, 08 Jun 2012 10:14:08 GMT

I was interested to read about the McAfee team visiting the Cayman Islands recently to discuss various solutions around Information and Data security. As Brian Contos, Senior Customer Security Strategist at McAfee highlights: “Cayman is a mecca for financial services, supported by legal, insurance and consultancies and so the sensitivity of data within the businesses on Cayman in regards to customer privacy and confidentiality, means we need to invest in data security as much as other financial services businesses around the world.” Some of the solutions available today enable IT teams on island to centralize their endpoint, network and data controls and have a single location to manage and analyse the data. This is so relevant for Cayman, as a number of businesses have such small teams with limited human resources and often need to transfer data off island to multiple sites. https://blogs.mcafee.com/enterprise/security-connected/cayman-islands-security-for-financial-services .

A recent CML TV “Thought Leaders” video is a snapshot of leading IT solutions provider Ignition and their strategy for data security and disaster recovery. It is worth researching some of the new solutions in information security, especially as we head in to hurricane season. Watch this video to discover how Cayman and offshore businesses are well and truly ahead of the game when it comes to keeping company and customer data secure and protected: http://www.cmlor.com/cml-tv/vid/thought-leaders:-computing-in-the-cloud.html

Hurricane Season is Here Again!

Fri, 01 Jun 2012 10:18:14 GMT

I remember in my first year on the island we had a few days straight of torrential rain. It was so loud you could hardly hear yourself think, and the streets were constant puddles. You know that feeling of when it rains so much that it just makes you feel miserable? I asked my boss ‘Steve, how much more does it have to rain before you send us home?’. The answer was laughter. I was very serious though! I’d heard all about hurricane season, and I didn’t fancy getting caught in the eye of the storm!

Admittedly, I was severely under-educated about the issue. I’d heard all about hurricane’s, and had been told that 2010 was going to be a busy hurricane season! We were stocked up with hurricane supplies at home – LOTS of canned food that made my stomach churn just by looking at it, bottles of water, torches, batteries, snack foods that wouldn’t go stale in a hurry, bug spray, first aid kits, battery operated radio, cash, books and other fun things to do, water purification tablets, important documents in waterproof containers… the list goes on. I was actually a little bit excited. I wasn’t wishing for a Cat 5 or anything, but a little baby hurricane would have been a great adventure!

We had a week straight of pouring rain, flooded streets and not a drop of sunshine (which also happened to be the week that I had time off to spend with a visitor who was over from Australia). I waited ever so patiently for something that never came…

Today is the first day of the 2012 hurricane season and we’ve been told that all the signs are pointing to a busy hurricane season this year as well… Something about crabs in Cayman Brac ( http://www.compasscayman.com/caycompass/2012/05/16/-Hurricane–crabs-invade-Brac/ ) was reported, which apparently is a sign that we’re due to have a hurricane or two coming our way. Other sources are saying that it is supposed to be a quiet hurricane season – so really, no one seems to know what they’re talking about!

Whether it is a busy or quiet hurricane season, the time has come (it actually came a month or so ago, but I was lazy and put it off) to prepare for some mild/not so mild weather. Stock up on the essentials, and come up with family plan!

Listen to the warnings, make sure you have a stockpile of non-perishable food and water (and ALCOHOL for your hurricane party!), and educate yourselves on what to do in the event of a hurricane!

Adventures in Audit: Becoming an Auditor in the Cayman Islands

Thu, 31 May 2012 04:55:55 GMT

“If you are second-guessing moving to the Cayman Islands with a career in accounting, don’t. Make a move already!”

Planning the Move

Once I’d gotten the exams out of the way (I passed the first time, by the way!) I’d already started thinking about what I wanted to do at the end of my three years working for a mid-tier audit firm in the UK. The idea of working abroad for a period appealed strongly as I’d missed out on having a GAP year between the end of University and entering the working world.

I began researching countries that my newly minted CA certificate could take me. My prerequisites were strictly English-speaking countries as I had no natural grasp of any other language. That ruled out much of Europe and Asia. Next was choosing somewhere always warm, safe and somewhere I could use my hard-earned CA qualification.

After, I was left with a choice of Australia, Dubai, California, the Cayman Islands, and Bermuda. After long hours of narrowing my options, I finally chose Cayman and Bermuda.

Cayman and Bermuda seemed to become more perfect as I looked into them. Many audit firms were actively recruiting individuals with my background to do precisely what I had been trained to do for the last three years. I was able to expand my career while being on an extended paid exotic vacation. Yes, please!

So far, my audit experience had been within the manufacturing sector in the UK, but I was starting to lean more towards working in the financial services sector. How would I make the change? The Cayman Islands and Bermuda made it possible to make the switch.

Job Searching with CML

In May of 2011, the friendly staff at CML, who I have since gotten to know personally (it’s very easy to make friends here, by the way), arranged interviews with two audit firms; one in Bermuda and one in Cayman. I was excited.

I had two over-the-phone interviews with both audit companies where the interviewers explained what a two-year contract would entail. I must say, both companies sounded great. Both would give me the exposure to the financial services sector that I wanted, the salary was better than in the UK (and it would all be tax-free), and they would handle the relocation cost. Additionally, I would be part of a large team of auditors. It all made me more eager to get the ball rolling. Moving seemed like a no-brainer to me.

Fortunately, I was offered both audit positions. I want to say that I went through some mental agony in deciding which company to accept. Still, in reality, it was a close call because although there were more beaches in Bermuda, the temperature of the water in the Caymans was warmer. So, I made the decision – I was going to take the Audit job in the Cayman Islands!

Moving to the Cayman Islands

In September 2011, it was ready to board a direct British Airways flight from London Heathrow to Grand Cayman. To this day, I am still gob-smacked by the aerial view of my paradise home in the Caribbean for the next two years. Surprisingly, I was amongst two others who shared the same flight from the UK (they had become some of my best friends and housemates, incidentally).

We were deposited at the Sunshine Suites, the last three arrivals of the group of 19 other auditors who made up the September 2011 intake. Twenty-two excited auditors from all over the world (UK, US, Canada, South Africa, Australia, Ireland, Malaysia, and Argentina, to be exact) aged between 23 and 28, newly arrived in paradise, with five days of fully paid free time. After dumping my bags, I first headed for the nearest beach bar (which happened to be across the road) with my newfound friends. We were clearly the luckiest 22 people in the world!

We started work the following Monday with an orientation session and breakfast, introducing us to the partners and senior managers. One of the first things I noticed was that a lot of the senior people in the firm were younger than I was used to seeing, and strangest of all, they seemed to have a sense of humour!

Beginning my New Audit Job

Week one focused on technical training. We were given an overview of useful audit skills and financial services sectors that we would become experts on; Hedge funds, Insurance, and SPVs. By the end of the week, I was chock full of information on funds, Insurance, SPVs, Anti-Money Laundering, IT security, Audit Methodology etc. Despite working, our days were still sociable, and there was still time to catch some of the fading rays on the beach or by the pool after a day at the office to rehash our days.

After week one, I searched for an apartment to share with my new buddies. Luckily, we came across a lovely apartment in South Sound. It was a 5-minute drive to work, complete with a beach, swimming pool and tennis court, at a price we could afford. As the apartment was immediately available, we decided to sacrifice the outstanding free accommodation provided by the firm, wave goodbye to our group of friends and strike out on our own in the real world.

We were all booked on a 12 month audit schedule, which entailed working with different managers on different types of companies. My manager gave me my first assignment and was briefed on the company I was to audit. My manager explained everything easily, and they trusted me to take responsibility for the entire audit file. I was responsible for planning, executing, delivering, and managing client relationships and stakeholders.

From September to December, I was very much involved in audit planning for the busy season, which falls from January to July each year. It was an excellent easy way to break into the work and start to build an understanding of the hedge fund and insurance sector. The 2011 intake was also sent on technical courses in October and November hosted by the Cayman Island Society of Professional Accountants (CISPA).

Enjoying Life in Cayman

In my spare time, I joined a 5-a-side football team and played tennis for the first time in 10 years. I tried a flag football season for the very first time, earned my diving certification, and learnt to paddleboard – it’s more complicated than it looks! I’ve also had the opportunity to make friends with people from all over the world and travel to the USA, Cuba, Honduras and Costa Rica.

At the firm, there are lots of opportunities to get involved with new initiatives and projects, and I was good at volunteering, whether for the social committee or to help roll out a new internal IT system, and I was rewarded for my efforts with a promotion one year after joining the audit firm.

I have been lucky in many ways to have had this opportunity, especially now that the end of my two-year contract is in sight. To my surprise, I have really enjoyed the audit work in Insurance, where I may specialize. I hope to be able to get a secondment with one of my insurance clients this summer which should help me confirm whether this is the direction I want my career to take.

Join the Audit Industry

My relocation and audit experience has been a dream come true! Thanks to the CML team, I couldn’t have asked for a better country and company to work for. Are you looking to become an audit?

CML Offshore Recruitment will make your job search, recruitment and relocation process easy if you want to move to the Cayman Islands. For more information on relocating to the island, please contact them at info@cml.ky.

Feed Our Future

Fri, 18 May 2012 10:40:31 GMT

Today at CML we all are wearing very bright orange t-shirts, raising money and awareness in support of Feed Our Future: Cayman Islands.

The team at CML in our Feed Our Future t-shirts

As a part of the Child Month 2012 celebrations, the Department of Children and Family Services, in partnership with Feed our Future, have invited the community to participate in an island-wide “Dress Down Day”

According to the not for profit organisation, a large percentage of Cayman’s teachers regularly see children who come to school hungry because they aren’t getting enough to eat at home. The reality is that many teachers are spending their own money to purchase or provide meals for students in their classrooms.

Feed our Future is a not for profit association whose primary mission is to solve childhood hunger and to support intellectual nourishment in the Cayman Islands through the funding of nutritionally balanced low cost or free school meals to children in need.

Just $6.00 can provide school meals to a child for one day. $180 can provide school meals to a child for a month and $1,000 can provide a child in need school meals for a full school year.

Feed Our Future has a great website, which provides more information about how you can get involved: http://www.feedourfuturecayman.org/

And they’ve got a Facebook page too: http://www.facebook.com/pages/Feed-Our-Future-Cayman-Islands/154654517950186

Cayman Most Diligent Offshore Jurisdiction

Thu, 17 May 2012 11:06:28 GMT

Cayman Finance ( www.caymanfinances.com ) , recently welcomed the results of an independent study on due diligence across offshore centres which places the Cayman Islands as one of only two countries to request internationally accepted standards for identity documentation in the due diligence process.

Mr. Richard Coles Chairman of Cayman Finance, says that the study carried out by Professor Jason Sharman of Griffith University in Australia confirms what Cayman Islands officials and industry have been saying all along; that the Cayman Islands is one of the most diligent jurisdictions in the world when it comes to the fight against money laundering and financing of terrorism.

“It was certainly refreshing to see the positive results of an independent study after the many years and investment that the Cayman Islands has made from both an industry as well as government perspective in enhancing its regulatory framework over the past 15 years”, said Mr Coles.

Mr. Coles lamented the fact that awareness of the high standards upheld in the Cayman Islands is unfortunately still lacking across the wider international community which seems to be dominated more by stories which perpetuate the old image that all offshore is less regulated.

The study showed that the corporate service providers in the Cayman Islands were top of the table of over 183 countries because they required the full suite of identification documentation. The Isle of Man and the Cayman Islands were the only 2 jurisdictions that had a perfect compliance record, according to the results of the study.

The Future is Bright – The Future is Cayman Islands

Mon, 14 May 2012 11:35:23 GMT

The Cayman Islands, although relatively smaller than other offshore jurisdictions, has definitely proven themselves on top of the game.

Our team at CML Offshore Recruitment has found ourselves excited about what the future has in store for Cayman, but first, let’s speak about what the island is currently up to.

What’s Happening in the Cayman Islands?

While other jurisdictions such as the United Kingdom stagger with disappointing job figures, this poses an important question; What is the outlook for the Cayman Islands? Super great, in our opinion. Cayman’s newly but high-ranked Cayman Enterprise City is now boasting 20 clients currently with plenty more in the pipeline, a $2 Billion hospital project and the continued expansion of locally loved Camana Bay .

A sign of economic growth can often be seen on the skyline. As building projects gather speed and gain financing, the vista has become dominated by cranes! This has definitely been the case here on Seven Mile Beach, with at least four residential projects taking shape. All of which seem to be gathering significant momentum as workers’ volumes increase.

Interestingly, money seems easy to come by for qualified individuals, and the banking industry seems almost too eager to compete for your business. We have spoken with several individuals who have secured fantastic mortgage rates recently. Undoubtedly, many will prosper from the potential strengthening of property values here on the island. It is also evident that the rental market is seeing less inventory available as fewer people are moving away and more people are arriving.

In other words, all industries in the Cayman Islands are thriving!

Increase in Businesses, Increase in Jobs?

Furthermore, with the previously mentioned major developments of the Cayman Enterprise City, and the Shetty Hospital, Cayman continues to diversify its labour market. However, will this create more opportunities for residents on the islands? We sure hope so, but the great news is that these new changes will welcome both existing and new business.

CML is uniquely positioned to witness firsthand how many jobs are being lost or added. The good news is that more jobs are being created than lost. Indeed, our teams have seen several placements over the last two months within the Financial Services (FS), IT, Legal and Administration sectors. Many candidates are attributed to new jobs rather than replacing turnover.

However, employers need to be mindful that with a competitive talent pool comes the need to stay ahead of the curve regarding compensation levels. CML keeps up-to-the-minute information on salary levels across the main industry sectors here in Cayman and other offshore sectors. Want to learn more? Let us know!

Misconceptions

There is a misconception that many applicants can fill every job because of the world economy. Here in the Cayman Islands, that is simply not true. For specialist positions, which many in IT and FS are, there are only a handful of candidates with the required skill level and ability, and virtually none are on the island as they are employed (and therefore unavailable). We are in a candidate-driven market for many of our positions which is why people are often surprised when they get an urgent call back from a very keen recruitment consultant!

The future is bright in the Cayman Islands! Indeed we have just taken on three new staff, including a promising young Caymanian and two experienced consultants. We would not be doing this if time demands and work volumes did not dictate it!

Let’s keep thriving! Are you looking for vacant job roles in the Cayman Islands, BVI or Bermuda? Please send us your CV, and let’s get you hired for your talent. Contact info@cml.ky to learn more about our recruitment or relocation process.

New Immigration facts

Fri, 11 May 2012 11:42:20 GMT

Immigration recently released new statistical update information. The Caymanian Compass have covered the full release, but I have summarised some of the main points that may be of interest.

For the first time in more than a year, the number of work permits – including government contract holders and those working in Cayman under operation of the law – rose above 20,000 people.
According to immigration records, the number of work permits held in the Cayman Islands went from 18,828 in March 2011 to 20,309 last March, an increase of about 8 per cent.
Government contract figures for non-Caymanian workers remained virtually unchanged during the first part of this year. Temporary [six-month] work permits also stayed about the same.
The number of individuals working as an operation of the law – awaiting decisions on permanent residence or appeals of work permit refusals – dropped to below 1,000 people for the first time in more than five years.
In 2008, there were nearly 3,300 people in Cayman awaiting decisions on their various immigration applications. As of 31 March, 2012, that number had fallen to 902.
At least 712 of the estimated 2,350 non-Caymanian workers this year who will reach their seven-year limit on residence workers applied to extend their stay in the Cayman Islands beyond the normal seven-year term limit on residency set forth in the Immigration Law.
Term Limit Exemption Permits granted for under-skilled labourers were the most common worker category to be awarded a rollover reprieve, with 259 being awarded exemption permits. Service workers were the next most common worker category granted, with a total of 160 exemption permits given.

Source: http://www.compasscayman.com/caycompass/2012/05/08/More-than-700-apply-to-extend-stay/

Analytics Technology and Sport

Fri, 04 May 2012 11:53:03 GMT

To say that sport is getting more tactical and technical would certainly be an understatement. To say that technology, analysis and predictive analytics are helping to improve sport, sportspeople and their health would be hitting the nail on the head.

There are increasing examples of sport and technology intertwining. Major statistic companies; Optastats, Prozone and Infostrata have cropped up to analyse and evaluate players movements, touches, decisions, heart rates and general fatigue levels.

There are also examples like Moneyball – the fairytale story of the 2002 World Series Winners – Oakland Athletic – http://en.wikipedia.org/wiki/Moneyball – a team exclusively picked on statistics to form and make a team.

IBM have taken this one step further, with their predictive analytics software tools; in particular SSPS – http://www-142.ibm.com/software/products/us/en/category/SWQ50 . In this instance, IBM have teamed up with Leicester Tigers; the most successful Rugby Union team in the UK to develop and create a series of reports and analytical statistics to help with player and team development, performance, preparation and recovery. http://www.bbc.co.uk/news/business-17867961 .

Key comments within the article explain how the IBM predictive analytics are designed to help the Tigers ‘broaden and deepen the analysis of both objective and subjective raw data, such as fatigue levels and game intensity levels.’

Furthermore, with these analytics the Tigers are able to analyse psychological player data, to reveal other potentially key performance affective factors. For instance, away games may cause higher stress levels than home games and social or environmental stress could significantly change the way players perform during a match or predispose a player to injury.

The Tigers will use the IBM analytics system right down to Under 19 level; to refine the selection process and assess who are the best players for any given occasion and future career progression. As Jeremy Shaw, business analytics lead for media and entertainment at IBM says, ‘sport is no longer just a game, it’s become more and more a scientific undertaking which is driven by data and numbers. Gone are the days of relying on raw talent and gut instinct to succeed.’

It’s become that much more integral due to the cash involved in the game. Nowadays, the simple fact is that there is direct correlation between the relationship of on-field performance and financial gain through sponsorship, ticket money, TV deals and hospitality.

One thing is for sure. Technology and science is here to stay in the world of sport.

Thinking of relocating to Cayman? A “No brainer”!

Fri, 27 Apr 2012 11:59:34 GMT

Team TASS has just finished 2 huge recruitment drives for 2 large employers on the island. One of the most time consuming parts of the process was calling many of the applicants to talk through the referees or written references that had been provided as part of the application.Our clients generally want to see references that have come from your previous work places and usually from a direct supervisor. It is an added bonus to have a character reference from a upstanding member of the community but it shouldn’t replace a working professional reference.

We would recommend running by the following basic check list when applying for a role

Resume – Make sure it is up to date, your numbers work and your voicemail is not full!!!!

Cover letter – Make sure it is addressed to the correct person or to sir/madam. Also do not attach it to a blank email, copy and paste into the body of the email otherwise it can get over looked and your application is left looking like spam.

3 Professional References – We understand you may not want to put you current employer on here, that is understandable, but if you could provide the names of 2 professional contacts, preferably a direct manager with the 3rd coming from your current employer once an offer is received, that is acceptable. Many candidates also seem to miss out employers and will skip past the most recent 2 or 3, this raises many questions with employers and should be avoided if possible.

Should your move be sensitive, all references can be provided upon request rather than at the beginning or you can instruct the HR team not to contact until you have been notified. This is perfectly acceptable.

When a client or candidate uses an agency like CML Offshore Recruitment it does give you the added advantage that we will chase and clarify any missing information, but remember a direct application may be over looked because you haven’t covered the above points and you will never know that was the reason.

Job Application Check List

Fri, 20 Apr 2012 12:10:21 GMT

Our clients generally want to see references that have come from your previous work places and usually from a direct supervisor. It is an added bonus to have a character reference from a upstanding member of the community but it shouldn’t replace a working professional reference.

We would recommend running by the following basic check list when applying for a role

Resume – Make sure it is up to date, your numbers work and your voicemail is not full!!!!

Team TASS

Resigning does not mean falling out with your current employer or does it?

Fri, 13 Apr 2012 12:40:58 GMT

There have been a number of articles recently on this topic mainly from the point of view of the person having to resign; I especially like the editorial by Wendy S Goffe on the Forbes website

http://www.forbes.com/sites/deborahljacobs/2012/04/09/how-to-quit-your-job-without-burning-your-bridges/http://

However it does present an atypical response to resignation by a naturally cautious person who is a lawyer. There is absolute nothing wrong with this, it simply portrays a very methodical and thought out approach to the point of getting legal advice about the resignation, which is to be commended, plus at her level I would see why this would be a good example to follow. But what about those in very different roles and environs, those who can’t afford legal advice, those who want out and like their job and employer but just simply have something better to go to? Do we always burn our bridges when we resign? I would say no, but people are often embarrassed or feel rejected, some employers/ managers often say it feels like being “dumped”. However I would stress that most managers/employers who are close to their staff and care about their wellbeing will know if your time with them is limited. Therefore its not going to be a shock! It’s a little like the anticipation of an “injection/shot” is always worse than the shot itself! It is my opinion that if you take the sting out of the process it can become pleasant and even a learning opportunity.

So for the employers – put yourself in the employee’s position, they are dreading this moment, probably more so if you have a good relationship with them, they are nervous about the unknowns! Like notice periods, pay, references and next steps. Even if you are really disappointed that they are leaving and angry that you have invested time in them, DO NOT BE ANGRY! Be happy for them! They have made their decision, otherwise they would not be sat in front of you now! I am not a fan of “buy backs” or convincing someone to stay – you are only delaying the inevitable unless you can offer them a different role in a different part of the business, but if that’s the case why didn’t you do that already?! So be happy, congratulate them, ask where they are going, tell them you will be disappointed to lose them (even if you’re not), you will visibly see them relax, they will be productive throughout their notice period (generally) they will respect your mature and reasoned approach. Morale in the office may even go up as others in the office will hear that you are a nice manager. People should not be afraid to resign because if they want to go you need to know why!! They will talk to you openly about their feelings which is nothing but great feedback.

For the employee resigning – This is your opportunity to leave a lasting impression of worth, you never know when you will need a reference, or possibly another job (grass isn’t always greener!). Be prepared, tell them where you are going, (you may get garden leave if it is a competitor). Above all be honest and thank them for giving you a job and an opportunity, remember it’s business but this is where it can be taken personally, so be nice about them and the firm. Be constructive with any criticism and phrase the feedback as your opinions not anyone else’s. Do not let yourself be bought or coached into rescinding your resignation, your card is now marked, progression will be limited as there will always be a question of your commitment to the organization. Sounds hard but it’s true.

One final piece of advice for anyone resigning – are you 100% sure? If the headline of tomorrow’s newspaper was to read that you had taken this decision would you be happy for everyone to know? If so you have nothing to lose, if not then revisit the reasons you want to move on and evaluate how those issues will be remedied by your new employer. It’s not always about the money! But once you resign you should be committed!

Cayman full Census finally revealed

Fri, 13 Apr 2012 12:34:40 GMT

The Caymanian Compass detailed some key findings from the full National Census report of the Cayman Islands, provided to the Legislative Assembly this week and which was completed by the Economics and Statistics office at the end of last year. The document reveals information on Cayman’s demography, disability and illness, education, marital status, fertility, employment, household and housing characteristics. This report shows that the growth in population since the 1999 census is down to a growth not in foreign residents but due to an increase in the Caymanian population.

There 52% more Caymanians compared to the last census while foreigners increased by just over 40% on the number of ex-pats in 1999. There were 10,488 more Caymanians but only 5,604 more non-Caymanians. Despite the unemployment rate among Caymanians running at 9.8% the census found that the workforce is made up of a greater number of non-Caymanians as over 53% of the workforce are foreign nationals.

Among the employed Caymanians, 51.4 percent have earnings below the GDP per capita bracket ($38,400-$57,599) while 21.5 percent are within this bracket, and 23.6 percent are above this bracket. Among the employed non-Caymanians, 69.4 percent earn below the GDP per capita bracket, 11.8 percent are within this bracket while 15.9 percent earn higher than this bracket.

There are now 22,760 households on the islands an increase of 7853 from 1999 with 51% of them being in George Town but the rate of increase was highest in Bodden Town where households have grown over the last decade at a rate of more than 95%. The average household size has decreased slightly from 1999 to 2.4 from 2.6. Almost one in three homes are single people households which reflects the findings of the census that more than a third of the country’s population is not in a marriage or permanent relationship with 43.7% of women not in any kind of union.

46.3% of households are rented furnished accommodation only less and a similar number live in their own homes but around two thirds of those owners have a mortgage.

While around 18% of households are sharing facilities such as kitchens or bathrooms with other households, Cayman homes are very techy. The census found that more than 65.2% of households have internet connection and almost three quarters have a computer in the home. 80% of people have radios and nearly 95% of homes reported having a TV. Although fixed home telephone lines were down to only 39% 71 percent of homes reported having at least two cell phones.

Cayman remains a very religious nation with 90% of the population stating that they belong to some form of religious denomination. Of those only 7% did not belong to a Christian denomination. The largest single group of Christians 22.65 were members of the Church of God congregation. Seventh Day Adventists.

This census also included a snapshot of the nation’s health which revealed that over 89 people in every thousand have high blood pressure. The top two disabilities are sight and lower leg problems with incidence rates respectively of 14.6 and 9.6 per 1,000 persons. The census found that the incidence of illness among Caymanians is twice that of non-Caymanians.

Over 86.8 percent of people have health insurance with only 121 persons being deemed uninsurable. Government’s insurance company covers more than 11,500 people while over 35,000 people have private sector insurance coverage.

See the full 2010 Census at www.eso.ky.

Q1 2012 Accounting and Finance market review

Mon, 02 Apr 2012 12:47:51 GMT

At a glance:

It’s been a steady start to the year with regards to Accounting & Finance recruitment in Cayman, with a fairly regular flow of both temporary (*30%) and permanent (*70%) opportunities. Some sectors have been particularly quiet; specifically Banking (*6%), Insolvency (*4%) and Captive Insurance (*4%). As in Q4 2011, Funds (*33%) has been the busiest sector, and the ‘highest climber’ has been Trusts (*20%), which only accounted for 4% of recruitment volume in Q4 2011.

January was mainly occupied by trying to find suitable candidates for legacy permanent positions carried over from 2011, as well as responding to the last minute year end needs of our clients, who were seeking temporary staff to assist with their seasonal spike in workload. There was a flurry of new permanent positions released in the last few days of January, which affected the overall figures slightly, but the stats are that 57% of the roles we dealt with were from clients seeking temporary staff, and 43% were looking for people on a permanent basis. Overall, and in keeping with the common seasonal trend, January was the quietest month accounting for only 23% of total recruitment volume in the first quarter of 2012.

As we moved in to February, we saw ever increasing requests for permanent staff, particularly within the Trust industry. Overall, 82% of positions released were focused on finding permanent hires.

March has been marginally the busiest month in Q1 2012 (*40%), and again followed the ‘business as usual’ trend with clients mainly seeking permanent (*75%) staff.

Analysis by sector:

Funds – *33%, Trust – *20%, General Industries – *13%, Audit – *10%, Structured Finance – *6%, Banking – *6%, Insolvency – *4%, Captive Insurance – *4%, and Asset Management – *4%

Analysis by job title:

Fund Accountant – *20%, Trust Accountant *16%, Directorships/Fiduciary Services – *13%, Financial Controller/Accountant – *11%, Client/Investment Accountant – *11%, Auditor – *11%, Internal Auditor – *6%, Relationship Manager – *3%, Captive Accountant – *3%, Portfolio Manager – *3%, and Insolvency Accountant – *3%.

Outlook for Q2 2012:

We are currently dealing with a number of vacancies in Cayman, both permanent and temporary, across most of the common sectors, and expect Q2 to be as busy as, if not slightly busier than Q1. We are finding that there is a slightly lower than usual demand for expats looking to relocate to Cayman (the Audit sector being the exception to the rule), but we expect this to change in the 2nd half of the year, which is traditionally the busiest in terms of recruitment volumes in Cayman.

Applications are still open for the Sept/Oct 2012 Audit Senior intake, with opportunities existing in Cayman, Bermuda and BVI. We urge you to get in touch as soon as possible though as most of the Audit firms organise their staffing requirements well in advance.

We’re always interested in hearing from qualified accountants seeking temporary opportunities in Cayman, so please keep these applications coming in.

*Percentage of total recruitment across Accounting & Finance in Cayman

CML is a Top Employer!

Fri, 30 Mar 2012 04:29:12 GMT

Last Saturday evening we attended the Top Employer Awards at the MarriottGrand Cayman Beach Resort. Now entering in its third year, Cayman’s Top Employer is an annual competition to recognise the best places to work.

Employees of the organisations who enter the competition are asked to complete a survey about their employer. The organisations are then scored on nine dimensions:

Physical Environment
Work Atmosphere & Camaraderie
Compensation & Benefits
Management Practice
Employee Communications
Performance Management
Learning & Development
Community Involvement
Diversity

Points are awarded, with the overall scoring comprised of 30% for the application pack and 70% for employee survey results. Employers also have an opportunity to highlight the various programmes and benefits they offer to their employees.

I’m pleased to report that CML Offshore Recruitment has been recognised as a Top Employer (small/medium category) in the Cayman Islands for the third consecutive year, officially making CML a great place to work!

Top Employer Award

This year the awards have been produced by local artist, Horacio Esteban, who sculpts beautiful items from caymanite, a semi precious stone that is found in the Cayman Islands.

Getting started with CML Offshore Recruitment

Fri, 30 Mar 2012 04:18:23 GMT

By admin on Apr 07, 2020

Quite a number of people asked me what they need to prepare in order to get started with an agency and more specifically the administration and support services team at Cml Offshore Recruitment. I thought I would cover as much as I can here for all you internet surfers so you can be fully equiped for your search.

So at this point you have decided that you want a professional to guide you through your job hunt, and will need to get in contact with the Cml team. You can give us a call directly 1 (345) 949 1345, register your cv on our website or apply for a specific role..

Following this you will be contacted and Cml will ask you to attend a meeting with one of our consultants. We will confidentially discuss your cv, work history and work together on an action plan of how and who we will contact in order to secure the perfect position for you. If you are already living in Cayman the best way to be prepared for this interview and for the interviews with companies later on is to already have the following information:

An up to date CV/Resume containing;
All your work history, including the dates, brief description of your duties.
Your education to date including those courses you are currently studying
Your skills, computer systems and packages you have used, typing speeds or any skills that may make you stand out in the crowd.
Employment references from your past employers
Police Clearance Certificate – this can be obtained from the local police station and usually takes around 24 hours before it’s ready for pick up.
It is also helpful to have information ready to discuss with your Cml consultant. Examples can be information on your past salary, reasons for leaving your last position and notes about what you really enjoyed or didn’t like in previous roles.

I hope this gives you a little insight of what to expect and ultimately help you along the way to your next career move. I look forward to meeting you in the near future.

Setting up life in paradise

Fri, 30 Mar 2012 04:13:37 GMT

Today marks my two month anniversary in Cayman and I wanted to share some insights for those contemplating a move out here. The good, the bad and the amazing..

1. You settle into life here extremely quickly and life is just plain good.
2. Ex-pats are a really friendly bunch and remember what it’s like to be the newbie, so don’t panic you won’t be a loner for long..
3. Real estate agents are super helpful and it is a renter’s market at the moment so you shouldn’t have any trouble finding a place to suit your needs. We live in an apartment about 5 times the size of our previous place in London. It’s brilliant.
4. The beach is only ever a couple of blocks away and the sunsets just never get old.
5. Yesterday, for a fleeting moment, I felt cold for the first time in 2 months. I had actually forgotten what it felt like.
6. Waiting in the queue to arrange your vehicle registration is not fun, but you get through it.
7. Iguanas are not my friends, but I’ve learnt to let them within a 10m radius of me now.
8. The restaurants here will blow your mind.
9. Do not be mistaken, the netball league is not social, it is competitive. We learned that the hard way but we’re getting there.. http://www.compasscayman.com/caycompass/2012/03/29/Hot-Shots-make-positive-strides/

BVI Welcomes the Return of Big 4 Audit Firm

Fri, 23 Mar 2012 04:34:43 GMT

Ernst & Young has announced it is to re-establish an office in the British Virgin Islands, after a multi-year absence.

The global accounting and consulting firm, which has 152,000 employees in 140 jurisdictions globally, has a staff of six in the BVI and hopes that will expand to double figures by mid-summer according to a report by Hedgeweek.

The Return of Big 4 & Audit

According to Dan Scott, managing partner for Ernst & Young’s Bermuda, Bahamas, BVI and Cayman Islands region, the firm was attracted by the BVI’s international reputation for financial services, particularly the strength of the financial services legislation, the regulatory regime and the Commercial Court: “When I look at the BVI, it ticks all of those boxes very nicely,” he says.

Sherri Ortiz, Executive Director at the BVI International Finance Centre, says: “We have been busy during the past few years strengthening and deepening our relationships with existing and new customers by projecting the BVI globally as an innovative and vibrant provider of financial services. Even with the current economic climate, we have retained our position as a leading international finance centre and are able to attract industry giants like Ernst & Young.

“In addition, last year the BVI won an award for ‘Best for Quality of Life’ and the jurisdiction was runner up in the ‘Best Human Resources’ division in rankings compiled by the Financial Times’ Foreign Direct Investment Intelligence Division from an independent collection of data across 31 Caribbean and Central American countries. This has provided even more of an inducement for professionals wishing to move to the BVI.”

Increasing Growth for the BVI

The BVI has continued to see constant and healthy levels of business which is due to the strength of its financial services sector and adherence to international regulatory standards. Most notably towards the end of last year, two key international regulatory bodies lent their support to the work the BVI has done in this regard. The Financial Stability Board (FSB) announced that the offshore jurisdiction demonstrated “sufficiently strong adherence” to new global regulatory and supervisory standards on international cooperation and information exchange.

The FSB announcement came shortly after the BVI was recognised by the Organisation of Economic Cooperation and Development (OECD), which concluded that the BVI’s tax information exchange agreements met the established standard.

Do you have experience in the audit industry and are seeking to relocate to the BVI? Discover accounting audit jobs with CML Offshore Recruitment. Feel free to get in touch with our finance team at info@cml.ky for more information.

IT Industry in Cayman: How Does is Compare to its Global Rivals?

Thu, 22 Mar 2012 04:42:13 GMT

A lot of the time, we’re asked by clients and candidates alike to compare and contrast salaries between Cayman and some of its main competitors. The CML team has kept our eyes on the recent 2011 IT figures, which indicate how the Cayman Islands compares in average median salary with San Francisco, Bermuda, New York and London. Here is what we have found.

How Does Cayman’s IT Industry Compare to its Global Rivals?

From research, the rise in available jobs in San Francisco has undoubtedly impacted salaries in Silicon Valley. However, as that is a separate entity in its own right, I have negated those figures as best as possible. Other factors play a significant role in this impact, such as; exchange rate conversion (i.e. from GBP to USD), taxation, cost of living and availability of resources.

We have kept our eyes open for changes in the global IT industry, and we can say that, like other countries, the Cayman Islands has its strengths, weaknesses, ups and downfalls. On the brighter side, there is a significant disparity between salaries here and worldwide. On further reflection, while Cayman remains a tax-free haven, salaries have become more competitive. To combat that, however, the cost of living would arguably be as high as the other offshore jurisdictions and countries, if not higher, except for Bermuda, which is commonly believed to be 15% more expensive.

Small Island on the Rise

The IT market in Bermuda is undoubtedly more extensive than its counterpart in Cayman. However, I don’t think this will be a long-term factor, given the infrastructure and technological advancements in the Cayman Islands. We may be a small island compared to big cities, but we are working on a daily basis to boost advancements!

We have also discovered that figures will also be inconsistent depending on each industry sector. For example, the hedge fund and financial industry in London and New York will be substantially higher than salaries in Cayman. As we know, A* talents reside in these areas, but the Cayman Islands are steadily rising as well.

Additionally, with contracting rates and the supply and demand of talent, there are no doubts that figures will be much higher. These locations are also more family-friendly, affecting the talent able to work. Bermuda, being restricted to a maximum of two children, and Cayman to a similar but lesser extent, are unable to attract such a wide range of experienced workers, as these people will tend to have families.

There is no simple, easy conclusion to be drawn, but we are excited to announce that the IT industry in the Cayman Islands is definitely beginning to bloom.

With Cayman’s IT industry on the rise, so are available jobs ! Get in touch with an Information Technology Recruitment Expert at info@cml.ky . We would be happy to speak with you.

Congrats to our Hong Kong office!

Tue, 20 Mar 2012 04:47:26 GMT

The results of the 2012 AsiaMoney Headhunters’ Poll 2012 have now been officially released and CML Recruitment in Hong Kong have been recognised in the following categories:

Asia (ex-Japan) Legal & Compliance Best Headhunting Executive: Rank 1 – Ben Cooper
Asia (ex-Japan) Legal & Compliance Best Contingency Firm: Rank 2 – CML

Asia (ex-Japan) Legal & Compliance Best Retained Firm: Rank 3 – CML

“We are immensely proud to have been recognised in this way as these are the most prestigious awards in the region. Around 1000 hiring managers were surveyed and the results are compiled from their anonymous voting” commented Head of Legal Ben Cooper.

The Cayman office has also been shortlisted for this year’s CISHRP Top Employer Awards which takes place this coming Saturday.

So it seems that March is an award-winning month for CML!

What Makes a Good Insolvency Accountant? Advice from an Expert

Fri, 16 Mar 2012 05:04:10 GMT

This week, CML Offshore Recruitment spoke with an experienced Insolvency Accountant/Practitioner who currently holds a senior position within one of the top insolvency and restructuring firms here in the Cayman Islands! Here at CML, we are always willing to learn more about the many industries we recruit within. Furthermore, we found our experience enlightening. Here is what we learned about what employers look for in identifying suitable candidates for their team.

What Makes a Good Insolvency Accountant

Academics & Qualifications

Many employers seek candidates with a high academic achievement record, along with obtaining a relevant degree at a top leading University. Candidates must hold a Chartered Accountancy qualification or equivalent and preferably also have a recognized insolvency qualification.

Technical Insolvency Experience:

Skills in reviewing financial statements and complex asset and cash tracing investigations are a must. Additionally, you will need experience with senior stakeholders, be an expert user of Excel, and show a high level of aptitude and literacy skills concerning legal documentation and report writing.

Soft Skills:

An outgoing and confident personality is a must! This must be supported by a questioning mind and the ability to prioritize workload. Individuals interested must demonstrate that they are willing to take a very proactive approach to the job and be tenacious in finding the information they want to move cases along.

Personality Profiling for Insolvency:

Psychometric testing is highly popular in the Cayman Islands and has been around for years. Our clients are beginning to implement it more and more as they strive to eliminate the cost of hiring the wrong individual. CML Offshore Recruitment expects to see Psychometric testing become a staple of our recruitment process in the future.

One of the other key bits of information shared with us is that the market here in Cayman is very specialized when compared to some of the major Commonwealth countries. Why? Due to the difference in the type of work and technical environment, when relocating to Cayman as an Insolvency professional, it is not unusual to have to take a step back in seniority to grasp the type of work here before progressing back up the ranks.

Are you seeking insolvency accounting jobs here in the Cayman Islands or hoping to become established? Please get in touch with our finance & accounting team at info@cml.ky . CML Offshore Recruitment would be happy to assist you with jobs that fit your career goals.

Immigration requirements for the Trust, Admin and Support Services Team

Wed, 14 Mar 2012 05:12:20 GMT

Are you thinking about a move to the Cayman Islands? If so, there are a few things you will need to consider first. One of the most important things we as recruiters need to look at when we receive an overseas candidate’s application is whether or not we will be able to obtain a work permit for them. There are strict immigration laws here in Cayman and it is because of this that we need to make sure a candidate meets our immigration requirements before we can progress with their application. For myself and Louise on the Trust, Admin and Support Services team it is more difficult to make sure a candidate meets these requirements, compared to say the accounting team where it is clear cut in so much as candidates need to have a professional designation in Accounting i.e. ACCA, CPA, CA.

Here are a few things that we look for in an offshore applicant:

• For any of our positions we require candidates to have at least 3 – 5 years experience in a similar role.
• Where possible candidates will have a professional designation that correlates to their experience, such as ICSA or STEP.
• All candidates must be educated to University Degree level or higher.

Areas that could complicate your application:

• Relocating with a large family – dependants have to be listed on your work permit and there is a certain salary threshold you will be expected to meet for every additional dependant you have in order to relocate.
• Being an unmarried couple – your partner will need to have a work permit in their own right in order for them to remain in the country.
• Commitments that can take time to relocate – such as selling a house.
• Long notice periods of over 3 months
• Lack of savings – relocation benefits have decreased since the recession and so making the trip offshore can be costly when you first arrive.

It is important to note that there are certain roles that it is almost impossible to recruit an overseas candidate for because of the high level of local candidates available in certain fields. An example of this could be an administrative role outside of Financial Services. If you have any further questions on this matter please do not hesitate to contact me on t.turrell@cmlor.com.

Little Cayman

Fri, 09 Mar 2012 05:45:03 GMT

Little Cayman is only thirty minutes away from Grand Cayman and as its name implies is the smallest of the Cayman Islands and where I enjoyed spending last weekend. The whole island is coral and sand and the Islands capital is named Blossom Village which is on the Southwest coast. Little Cayman has around one hundred and thirty residents (everyone you will see will probably be a visitor or an Iguana) it is what a relaxing break away should be.

Little Cayman is beautifully un-spoilt, I was surprised to see that there were empty beaches and empty hammocks, so if someone required tranquility it would be a perfect trip. There are however a few things to do, diving is the main thing, the calm turquoise waters make the conditions perfect and many dive on the famous Bloody Bay wall and Jackson Point. The Bloody Bay Marine Park has a coral wall which plunges to 6000ft. If you feel like being Robinson Crusoe you could row out to Owen Island, this is a tiny deserted island where you can go for a private swim. I found riding a bike around the island an enjoyable way to get around, even if I was only riding ten minutes to the little shop.

There are some very laid back places to stay, I stayed at Southern Cross, which was lovely and I did not want to return to Grand Cayman, I got very used to the easy way of life very quickly.

I recommend that you visit Little Cayman while you can as things are slowly beginning to change, an airport which can receive larger jets is being built, at the moment the only way to get to Little Cayman is on a tiny twin propeller plane (which only really adds to the adventure of arriving on the island) so there will only be more development in the future, which seems a real shame.

How to move forward after a dismissal or bad employment reference

Fri, 09 Mar 2012 05:34:25 GMT

If you have recently been dismissed from a position, received a bad reference or think you may receive a bad reference it can be tough figuring out your next move. Here are a few tips to help you put a strategy in place in order to move forward:

Confront the problem

The first thing you need to do is take a step back and take the time you need to come to terms with what has happened, accept the reasons for your dismissal or bad reference and realize that only you can get yourself back on to the career path you want. Whether or not you were at fault, you need to be ready to move on and find a positive way to move forward.

Damage Control

Before you begin your job search you need to take some steps to minimize the effect your current situation will have on your job search. If you have not yet received a bad reference but think you will, one of the first places to start may be using the straight forward approach. If you are able to do so in a professional manner, contact your former supervisor, explain that there are no hard feeling and tell him/her you intend to search for another job. Ask what they would say if a prospective employer were to call for a reference. This may help as if you know what they will say in advance you will be able to prepare for any issues that will arise further down the line or be addressed in an interview. In order to move forward you will be able see the issue as a ‘teachable moment’ and explain what you have learned from the situation.

Plan of action

Simple – Get another job! What is not so simple is how you go about this; firstly you need to get busy with your job-hunting techniques. Here are some ways you can try:

• Networking
• Resume scattering
• Door to door
• Use any connections you have

Tip: You DO NOT need to volunteer on your resume if you were fired from a previous position, there will be an opportunity to discuss this at a later stage. However under no circumstances lie about it if you are asked.

Next, use this opportunity as a chance to spruce up you resume. It’s likely that it’s not in the best shape it could be, so take this time to sit down and really think about all of your experience and how that translates on paper.

Addressing the issue

So you’ve made it to interview – now what happens?

If you were terminated or even if it didn’t get that far but things ended badly, when asked about your previous position(s) explain why you were fired, and try to make it sound like it was the right decision. Being gracious and positive can have an incredible effect – it can actually work in your favor at times. Make sure you explain that being fired is an opportunity to explore jobs that better suit you, ALWAYS arrive prepared to explain exactly why the job you’re seeking is just such an opportunity. Practice in advance what you are going to say and keep it brief but keep it honest!

Under no circumstances should you say anything negative about your former employer, this is vital as you will only come across as bitter and unprofessional. It is incredibly important that you don’t point fingers and blame others. That will suggest to a prospective employer that you don’t stand up and take responsibility.

Make use of good references

If you have good references from an earlier position, use them to back up why a prospective employer should take a chance on you. Likewise, if you have any former colleagues or management level staff who can give a positive reference on your departure this may help.

Be realistic

In the end you will need to be realistic, this means being prepared that you may lose out on some job opportunities. The reality is that some employers will not want to take the risk on someone who has been fired or has bad references, especially if they feel they have a more suitable candidate for their position. The fact is this can be the case whether you have been fired or not, so pick yourself up and move on to the next opportunity!

Good Luck!

Testing and Training in Cayman

Fri, 09 Mar 2012 05:18:31 GMT

Applying for a new job can feel a little like going back to school with the testing and profiling companies request, but it is all worth it in the end. Although some tests are difficult to prepare for, such as psychometric testing, you can prepare yourself for the more practical systems based tests that could make the difference between a rejection and an offer.

Cayman is a small island but it does have some facilities for training on the more common packages such as Microsoft Word, Excel, Powerpoint and typing.

Useful places to visit:

University College of Cayman Islands

UCCI will run courses in this area but they need applications to fill the spaces before it will go ahead. If you would like to show your interest, call the registrar and they can alert you when the course is running.

Administration Telephone: (345) 623-UCCI (8224)

Office Hours Monday-Thursday: 8:30 AM – 5:00 PM Friday: 8:30 AM – 4:30 PM

168 Olympic Way, PO 702GT

Grand Cayman, Cayman Islands KY1-1107

Esolutions – Cayman

Esolutions’ continually run Microsoft office courses – information and prices are listed below.

345 943 3765

Word 2007/2010 ($195.00)

Description:
Designated as Approved Courseware for the Microsoft Certified Application Specialist program, this course will help students prepare for the Word 2007 exam (77-601). For comprehensive certification training, students should complete Word 2007: Basic, Intermediate, and Advanced.

Table Of Contents:
Unit 1: Getting started
Topic A: The Word window
Topic B: New documents
Topic C: Word Help

Unit 2: Navigation and selection techniques
Topic A: Document navigation
Topic B: Selection techniques

Unit 3: Editing text
Topic A: Working with text
Topic B: Using the Undo and Redo commands
Topic C: Cutting, copying, and pasting text

Unit 4: Formatting text
Topic A: Character formatting
Topic B: Tab settings
Topic C: Paragraph formatting
Topic D: Paragraph spacing and indents
Topic E: Automatic formatting

Unit 5: Tables
Topic A: Creating tables
Topic B: Working with table content
Topic C: Changing table structure

Unit 6: Page layout
Topic A: Headers and footers
Topic B: Margins
Topic C: Page breaks

Unit 7: Proofing and printing documents
Topic A: Checking spelling and grammar
Topic B: Using AutoCorrect
Topic C: Finding and replacing text
Topic D: Printing documents

Unit 8: Graphics
Topic A: Adding graphics and clip art
Topic B: Working with graphics

Excel 2007/2010 ($195.00)

Designated as Approved Courseware for the Microsoft Certified Application Specialist program, this course will help students prepare for the Excel 2007 exam (77-602). For comprehensive certification training, students should complete Excel 2007: Basic, Intermediate, and Advanced.

Table Of Contents:
Unit 1: Getting started
Topic A: Spreadsheet terminology
Topic B: Exploring the Excel window
Topic C: Getting help
Topic D: Navigating workbooks

Unit 2: Entering and editing data
Topic A: Entering and editing text and values
Topic B: Entering and editing formulas
Topic C: Working with pictures
Topic D: Saving and updating workbooks

Unit 3: Modifying a worksheet
Topic A: Moving and copying data
Topic B: Moving and copying formulas
Topic C: Absolute and relative references
Topic D: Inserting and deleting ranges, rows, and columns

Unit 4: Using functions
Topic A: Entering functions
Topic B: AutoSum
Topic C: Other useful functions

Unit 5: Formatting worksheets
Topic A: Formatting text
Topic B: Formatting rows and columns
Topic C: Formatting numbers
Topic D: Conditional formatting
Topic E: Copying formats and applying table formats

Unit 6: Printing
Topic A: Preparing to print
Topic B: Page Setup options
Topic C: Printing worksheets

Unit 7: Creating charts
Topic A: Chart basics
Topic B: Modifying charts
Topic C: Printing charts

Unit 8: Managing large workbooks
Topic A: Viewing large worksheets
Topic B: Printing large worksheets
Topic C: Using multiple worksheets

TYPING

If you would like to improve your typing accuracy or speed, the main area of focus is practice practice practice. Try typing up the chapters of a book or making the effort to write emails to friends you haven’t been in touch with for a while. Constantly working with a keyboard is the key to increasing your ability.

However if you would like to learn the basics such as where to place your fingers on the keyboard or simply have exercises that will test and time you there are many useful and FREE sites that offer this. We have listed just a few of the ones we have found below.

Useful typing practice/testing sites.

Beginners

http://www.goodtyping.com/default.htm

http://www.typeonline.co.uk/lesson1.html

Intermediate

http://www.typingweb.com/tutor/courses/

http://www.powertyping.com/

If you do feel you would like more in depth training or professional instruction Esolutions Cayman provides a course in keyboarding, for an appointment please call 345 943 3765

KEYBOARDING ($145.00)

Description:
This course for students who want to learn how to touch-type to increase their speed and efficiency on the keyboard. The open, modular-style manual is designed for quick scanning in the classroom, and is filled with interactive exercises that will allow students to explore the intricacies of KAZ (Keyboarding A to Z).

Table Of Contents:
Unit 1: Introduction to KAZ
Topic A: Getting started
Topic B: The keyboard
Unit 2: The five key phrases
Topic A: The first key phrase
Topic B: The second key phrase
Topic C: The third key phrase
Topic D: The fourth key phrase
Topic E: The fifth key phrase
Unit 3: Words and sentences
Topic A: The first two fingers
Topic B: The first, third, and fourth fingers
Topic C: The third and fourth fingers of the left hand
Topic D: Sentences
Unit 4: Capitalization, punctuation, and numbers
Topic A: Capitalization
Topic B: The number row
Topic C: Punctuation
Unit 5: The numeric keypad
Topic A: Playing with numbers
Unit 6: Speed and accuracy
Topic A: Improving speed and accuracy
Topic B: Speed drills

Current legal recruitment market trends

Tue, 06 Mar 2012 05:49:04 GMT

The degree of competition when seeking to secure a role at one of the major firms in Cayman appears to be even more intense than ever, with a significant number of high calibre City candidates applying for each role that comes up. A degree of patience is therefore advisable. If you don’t succeed at first attempt, bide your time patiently! It will be worth the wait.

Three of the big offshore firms all made a number of hires for their corporate and funds teams in the second half of last year. As a result, those firms are now in a period of bedding down these new hires and so may not be particularly active in the recruitment market until the second half of this year.

Litigation continues to be a buoyant area for recruitment both in Cayman, BVI and the Channel Islands, at a junior and senior level.

A very notable feature of the offshore market has been the movement of a number of senior Cayman-based partners from the major firms to their Hong Kong offices – Gareth Griffiths (Maples & Calder), Rod Palmer (Walkers), James Bergstrom (Ogier) to name just three. In addition, Mourant Ozannes have just opened a new office in Hong Kong (the last of the major offshore firms to do so) whilst Ogier and Appleby have announced the opening of offices in Shanghai.

Moving abroad, some useful tips…….

Fri, 02 Mar 2012 06:10:08 GMT

It is exciting to be relocating overseas but it can also be a daunting experience, especially trying to figure out what needs to be done first. Here is some advice……

1) Make a complete list of what you are taking and what you plan on leaving behind.

2) Check with the immigration department of the country you are moving to for specific requirements. If you are moving abroad for a job, the recruitment company, or the company that you will be working for, should assist you with the entry requirements etc.

3) If you are to be receiving pay while living abroad then you will need to investigate opening a bank account there. You will need to find out the foreign banks requirements in order to open an account. It is best to ensure that your domestic bank account has enough money in it to support you for at least a month. Call your domestic bank and inform them you will be moving so that they do not impose a debit/credit card freeze, they may otherwise be suspicious if your card is used in another country.

4) Notify your post office, subscription publications and other correspondents of your moving date and provide them with a forwarding address

5) Check your club memberships and cancel them, if they will not provide a refund, perhaps you can transfer the membership to a friend?

6) Consult a veterinarian if you have pets to find out what if any are the restrictions and requirements in transferring your pet abroad.

7) If you have children investigate schools and prepare to register your children into new schools and transfer school records.

8) Transfer medical records and get necessary prescriptions in advance of the move.

9) Research a shipping company and once you have found one keep detailed records and receipts of moving expenses.

10) Make travel arrangements.

Three Common Deadly Mistakes Made In Job Interviews

Fri, 02 Mar 2012 05:57:40 GMT

The following post is courtesy of the Recruiting Blogswap :

No two interviews are alike so it is difficult to be prepared for the unexpected. You can however focus on your presentation skills that can be more important than what you say.

1. Poor non-verbal communication image

To make a good impression make sure you do the following:

• Stand straight, and make good eye contact.

• Connect with a good, firm, enthusiastic handshake.

• Sit erect, leaning forward to appear interested and attentive.

2. Poor verbal communication skills

Good communication skills include listening and letting the person know you heard what they said.

• Observe your interviewer’s style and pace, and then match that style.

• Use appropriate language. Beware of using slang words or references to age, race, religion, politics, or sexual preferences.

3. Not asking questions

• When asked, “Do you have any questions?” if your answer is “No,” it is the WRONG answer!

• Asking questions shows your interest. The best questions come from listening to what is said during the interview.

• Asking questions assists you in finding out if this is the right place for you.

Being aware of your verbal and non-verbal performance and the messages you are sending could make the difference between getting a job offer or not.

Cayman food

Fri, 02 Mar 2012 05:51:58 GMT

When I first arrived in the Cayman Islands, I was all a wonder as to what types of foods were on offer. I have always been a big fan of Jamaican food, so I was pleased when I found out the food on island was similar to Jamaican food, but with some fascinating twists. Actually the local delicacies are heavily influenced by Jamaican and British foods, as the Jamaicans and Brits were of course the early settlers.

Cayman is big on celebrating food and hold a huge annual event every year called ‘ Taste of Cayman’ where island wide culinary delights are shared and experienced. It is basically a big food and drink party, that brings people from all walks of life together.

One very popular dish is ‘Rundown’ a slow cooked fish stew blended with spices and coconut milk. Snapper, my favourite fish, is used in the stew along with cassava which is a root vegetable similar to yam. It is a delicious and hearty combination served with dumplings. A great comfort meal! Seafood and fish are very popular in Cayman and quite a unique breakfast is served up here – salted fish with ackee, a local fruit, traditionally used in savoury dishes, which is a perfect alternative to eggs.

Fruit cake is a local specialty and of course local rum cake is big with tourists. My ultimate favorite would have to be good old jerk chicken/beef/pork or fish with rice and beans, it oddly reminds me of London, as I have fond memories of a little Jerk shop we used to all pile into at lunch times, usually on a cold wet afternoon.

Some other local favorites are coconut shrimp and conch fritters. Admittedly I had never heard of conch fritters before, so I was pleasantly surprised when I first tried conch. The French have escargot, we in the Caribbean have conch (pronounced ‘conk’), the snail of the sea. Conch fritters are breaded and deep fried, and rather delicious. Though I have to say sitting on a beach and watching people tuck into ‘fish fry’ and beer on a weekend does give you a satisfying feeling, that’s when you know you are actually living the island life.

Getting funding for Higher Education just got easier!

Thu, 01 Mar 2012 06:20:18 GMT

Cayman’s aspiring students are now able to apply for government scholarships online, says a recent article on Cayman News Service. There are two deadlines: one for international scholarships, which is 31 March and the deadline for local scholarships is June 30.

While the scholarships are not new, the online application process is – and that’s great. All high-school students should be applying online for the chance of continuing their education, it’s so easy!

At CML, we can’t reiterate enough how important higher education is to your career. Any high-school leaver who is wondering what to do with their future, should always choose furthering their education over entering the workforce straight away. While experience is important, university and college courses teach you to expand your mind, have self-discipline and can help you streamline the direction you want your career to take. Having a degree shows potential employers that you are able to work hard, with minimal supervision (as your parents really should just let you make your own mistakes at this stage) and you will also have up-to-date skills and knowledge of your particular field.

Plus, you’ll be working for the rest of your life, why should you start so soon?! Delay it for as long as you can! I have friends who are STILL in university! (And I envy them!)

Click here to apply for a scholarship, it will help you improve your future!

Cat bonds – nothing to do with financing pets

Thu, 01 Mar 2012 06:17:21 GMT

Cat bonds are an increasingly popular alternative investment (a member of the “Insurance Linked Securities” or ILS family) that offers investors exceptional returns, or catastrophic losses, depending which way the wind blows. Here’s a layman’s terms explanation.

Let’s say the State of Iowa wants to take a policy that pays out US$50m if damage from natural disasters in 2012 is greater than US$100m. They could go to a broker in the regular commercial insurance market who would go round the houses of insurance companies trying to accumulate the necessary coverage. Let’s say the premium was US$5m.

Or, they could go the cat bond route. An investment bank would find investors willing to put up US$50m in capital in return for US$4m in premium. A Cat bond normally has a “digital” outcome. Either the insured event occurs or it does not. If it does, the investors lose their shirt (and at $50m that’s some fine cloth). If it doesn’t, they’ve made a market-beating 8% return.

One of the most appealing aspects of cat bonds is that they are what is known as a “non-correlated” investment, which essentially means that, unlike regular corporate equities and bonds to varying degrees, they are not exposed to the general economy. It doesn’t matter if a recession causes demand to slump. That doesn’t make tornadoes any more or less likely to strike.

Cat bonds are generally created as a Special Purpose Vehicle (SPV) in the Cayman Islands or Bermuda as a) onshore they would be regulated as insurance companies incurring weighty and rather pointless compliance costs, and b) much like hedge funds they simply wouldn’t work if they were subject to corporation tax (note that, again like hedge funds, the returns WILL effectively be subject to tax in the hands of the investor (which, incidentally, may be a hedge fund).

Because cat bonds are a high value all-or-nothing bet, they are not for the feint hearted or the light of wallet.

For further reading on cat bonds, see this fascinating, if rather lengthy, article from Michael Lewis (author of such tomes as Liar’s Poker and The Big Short), entitled “Nature’s Casino” .

On-line Immigration

Fri, 24 Feb 2012 06:37:57 GMT

It is likely that more than a few people here in Cayman have visited the immigration department at some point and they are usually confronted with a mass of people waiting for their numbers to be called in order to submit documents and get their questions answered. Some good advice from someone who spends most of their working time in the Immigration Department is to take a good book or your iPod with you as the wait can be lengthy.

However, this time consuming experience may soon be a thing of the past – Immigration has launched a new online system. This new system has replaced the previous online system launched in 2001; which was seen to need improvement and one that offered the user only very limited information. The new system is already running in its first phase which allows the user to review the status of applications and find out application related information such as the conditions applied, term limits and dependant details. It also allows the user to export information into spreadsheets but perhaps the most useful tool is the prompt facility which lists the details of all permits soon to expire. Each new phase of the development is to become more sophisticated with additional features, it is said that the user will be able to make online payments and submit applications also, they are also planning on having a mail facility where permit letters etc can be downloaded and printed off, this would benefit companies greatly.

A conference was held at The Ritz-Carlton Grand Cayman last Tuesday where Immigration officials, along with the Project Manager Mick Whitworth, provided a useful tutorial demonstrating the new online system wand answering any questions.

The online system is only accessible to companies at the moment but it may also be developed in the future for the general public to use. It seems that Immigration’s ultimate aim is to eventually have a virtual online immigration centre where every aspect can be managed.

What is a Corporate Administrator?

Fri, 24 Feb 2012 06:24:08 GMT

Working in an offshore jurisdiction brings along with it many unusual jobs and job titles. As recruiters we are often asked about the different jobs on offer and the experience and qualifications needed to apply. I hope to try and cover the main roles we see come though the Trust, Administration and Support Services on my blogs each week.

One of the roles that brings along the most misunderstanding and questions is Corporate Administration.

Corporate Administrator (sourced data: CML 2011 Salary Survey)

Average salary range (Cayman) :

US$50,000 – $70,000 (mainly non qualified)

US$70,000 –$100,000 plus (qualified candidates)

Average opportunities with in Cayman : 2 vacancies per month

Average Entry Requirements:

Minimum 2-3 years administration experience in corporate, trust or legal fields.
Team player and ability to work to tight deadlines
Excellent interpersonal skills
Impeccable time management skills
Excellent typing speeds and MS Office skills
Exposure to industry systems such as Viewpoint, Coris, Filesite etc would be an advantage

Many of the companies incorporated within an offshore jurisdiction like Cayman are investment holding or dealing companies holding investments throughout the world.

The majority of offshore companies are registered and managed by specialist company management businesses. Larger organizations and institutions generally have their own company management or corporate administration departments that provide a similar, in- house service.

A corporate management/corporate administration department will provide a wide range of services but the basics tend to be;

Preparation and application of the company formation – registering the companies within the offshore jurisdiction
Registered Office facilities – basically providing an official address.
Director services – directors who are able to control and be satisfied with the activities of the company
Company Secretary – responsible for compliance to local and international statutory obligations
Record keeping and administrations – including minutes of meetings, communication with members, directors etc all company records
Accounting

A corporate administrator will become involved in some, if not all, of the activities above, depending on their experience and authority level. However, the majority of duties would fall under the compliance, record keeping and administrations sectors.

The most widely recognized professional designation within corporate administration is ICSA – the Institute of Chartered Secretaries and Administrators which studies high standards in corporate governance. Most senior level positions will require an ICSA qualification however many companies support the study of this qualification for junior or mid level corporate administrators.

Click on the links below to view some of our current corporate administration positions.

http://jobs.cmlor.com/administration-jobs/corporate-administrator-job-1094865

http://jobs.cmlor.com/trust-jobs/corporate-administrator-job-1131248

Why Job Boards Will Never Replace Good Recruiters

Thu, 23 Feb 2012 07:04:58 GMT

Many articles have been written about companies using job boards and direct hire methods to cut recruiters. True, HR administrators can hire roles requiring little or no interviewing, but do these methods inspire employee engagement? Not at all.

You can get 100 applicants from promoting on LinkedIn, and have the HR administrator or in-house recruiter spend hours sifting through digital CVs, then a few hours more arranging tests, and a few more hours for the initial screening interviews. Oh, and let’s not forget to plan and schedule interviews with the hiring manager…phew!

Get Ahead with Good Recruiters

During the long-winded admin and recruitment process, your competitor has phoned his trusted recruiter at CML and has accepted two excellent CVs in 24hrs. His recruiter has made it easy to begin interviews within 48hrs and has freed up his time so he can review them all. Now, from a candidate’s perspective, which would you prefer? From a hiring manager’s perspective, which would you choose? It’s straightforward – Good recruiters make your life easier.

Having surveyed our own candidates, many have said they would not apply for jobs on a job board because they never hear anything other than the automated response. Additionally, it takes 2 weeks for an official follow-up response to be sent. At this time, the candidate is uninterested in the role they had applied for. If you are a hiring manager, do not let this be you. Use a recruiter.

We have also discovered that many candidates are unaware of the companies they are applying to! Granted, great job adverts on solid job sites, branded by the company, will engage the audience – but how many potential candidates are you missing? Many candidates have given up applying to the job boards and are asking recruiters to make it easy by providing introductions. This way, their job search is narrowed down to specifics and time is not wasted.

Knowing the Market

There are many “them and us” between job boards, recruiters and employers. I believe that to get the best from the talent pool a company must integrate a policy that allows them to use top recruitment methods, including recruiters, for all job placements. For example, it’s OK to reach out to a recruitment firm for executive hires but not use a job board. The controversy is that many hiring policies suggest hiring managers use recruiters for high-paying roles vs junior roles. This seems absurd; why not take it position by position rather than create a sweeping policy that cuts off certain areas of the available human capital to your organization.

In the title, “good recruiters” means those that know their market, want a partnership approach and are honest about their deliverables. Often client frustration occurs when a recruiter cannot deliver within the stated timeframe, often leaving the hiring manager or board in a workload crisis! Most agencies will already be using job boards as part of their research approach, but they are not used in isolation. When combined with headhunting, talent mapping, and utilizing tools, good recruiters get the job done well!

Building Relationships

Finally, building long-lasting relationships matters. A job board won’t understand the personality requirement for a job, won’t be a call away when you need an effective solution, and be able to crosscheck background references. A job board won’t give you free advice and would have qualified candidates already at your disposal. Plus, a job is not CML Offshore Recruitment.

Skip the hassle and find qualified candidates and good recruiters with CML Offshore Recruitment . For more information on the recruitment process, don’t hesitate to contact our team at info@cml.ky .

Bermuda “obsolete”

Fri, 17 Feb 2012 07:13:49 GMT

Roving reporter Steve McIntosh files this dispatch from the front lines of the 1st Annual Cayman Islands ILS Summit.

Wow.

Following a barn-storming speech in which Cayman Islands Premier McKeeva Bush repeatedly derided fellow crown colony Bermuda, Soc Gen MD and Head of Pension Solutions for the Americas, Jeff Mulholland piled on adding “Bermuda has made itself obsolete”.

In a speech that tiptoed perilously close to the line of propriety on more than one occasion, Premier Bush repeatedly and directly invoked the island nation he described as “our friends in the middle of the Atlantic”. At one stage mocking their “preferred” mode of transport, the scooter, at another their recently-downgraded credit rating, it was clear recent comments by his Bermuda counterpart Paula Cox had struck a raw nerve.

Following on directly from Mr. Bush’s opening remarks, Mulholland issued a stinging rebuke of Bermuda’s decision to pursue Solvency II equivalency, not only declaring Bermuda obsolete, but adding “In the advisory work we do right now this is not a controversial statement,” he confirmed, “This is a majority view and a view that has changed over the last year.” He described the decision to “kowtow to the Europeans” by adopting the Solvency II capital requirements for insurance and reinsurance companies as a “gross miscalculation”.

He ended by advising the audience to “buy Cayman real estate”. Kim Lund must be beaming from ear to ear!

Here’s the article from CNS:

http://cnsbusiness.com/content/ci-winning-insurance-market

Is it time to make a change?

Fri, 17 Feb 2012 07:09:25 GMT

As a recruiter we speak to so many candidates every week who would like a change in their career. There are many reasons people have for wanting to move in to a different field, from not earning enough money to not getting enough job satisfaction, but whatever the reason it’s not an easy thing to do!

In our current economic climate it is hard enough to find work in a job where you have 10+ years experience let alone a job you have never done before. If you are thinking about making a change in career path the first thing I would recommend doing is sitting down and thinking about (or even writing down) your reasons for wanting this. If this is still something that you plan on doing then here’s a few tips that can help you make the transition more smoothly:

1) Identify your skills and what value you can add to a company – By reviewing previous successes and projects you have enjoyed you should be able to determine whether your core values and skills are met in your current career, and if not think about what kind of job might fulfill those areas of strength.

2) Research your career alternatives – Utilize online career guidance websites and really think about the type of position you want.

3) Utilize personal contacts – Once you have identified what field you would like to move into, see if you can get in touch with someone in that field that may be able to offer you advice and information on their day to day role.

4) Volunteer or shadow professionals – See if you can gain any unpaid work experience in your chosen field, this will look good on your resume and show your commitment to your future goals.

5) Further Education – Are there are courses or classes you could be taking in your spare time to increase your chances of getting that job!?

Finally, I would also say work with what you’ve got! If there are tasks you could be doing in your current role or within your current company that would give you any transferrable skills into your chosen career, then make sure you are doing them and make sure this comes across on your resume!

For further information please feel free to contact the CML Office.

House hunting in the Cayman Islands.

Fri, 10 Feb 2012 09:45:25 GMT

After deciding the Caymans was for us, it was time to find our perfect home and so my husband and I began our quest….

The excitement of looking for our first house abroad has so far been a pleasure. Simply knowing that each weekend, with the assistance of a great real estate agent, we have the feeling of discovery, adventure and surprise waiting for us. Each house we enter gives a different feeling and we love to mentally see ourselves in the property or not, and talk about the configurations and potential. There’s been so many houses on this island that have had their walls knocked out, their kitchens replaced, garages converted and pools put in recently. The property choices are endless and obviously you are spoilt for location, as each part of the island has a different feel and ambiance to offer.

So far, after viewing nearly thirty or so homes within our selected criteria, we seem to be honing in on our future abode in paradise. During our search we have seen a mix bag of properties, (that’s what make the whole experience so enjoyable), including fixer-uppers, traditional Caymanian / Caribbean, townhouses, detached large houses and even large multi-unit complexes going on sale as one property.

When searching for houses, I try and go about it in a purely organic way. First of all we try and get a feel of what we want and then iron out the practicalities, which of course there are many to consider. Buying a house is obviously about costs, but the final decision is more about your gut. The right house will simply shout out “buy me!”

Have we found something yet?….well maybe…which brings me to the practicalities, of course before we plunge into a deal. The good news is mortgages are available to both Caymanians (naturally) permanent residents and overseas employees alike. There are plenty of providers too, including bank of Butterfield, Scotia Bank, First Caribbean, HSBC to name but a few. The process is similar to the UK procedure with banks offering competitive interests rates and requiring an initial down payment (which we have discovered has varied from 5% to 20%). Once we have decided upon what is suitable for us other factors such as stamp duty, payable to Government which varies from 4% to 7.5% according to residential status and location and insurance needs to be considered. Word of note – Insurance is much higher than you would expect compared to buying in the UK.

Overall the process is straight forward enough, providing you do your research. Many of the realtors are able to not only help you in your search, but we have found have given honest advice and guidance. There are many listed such as Remax, Century 21, Crighton Properties, Coldwell Banker and Regal Realty, plus many more that can assist and provide you with up-to date listing on their websites.

As another weekend approaches and some further viewings are lined up, there’s no better way of spending a Saturday that letting your imagination run a little, do a little house window shopping and take a leap of faith to finding the perfect paradise home to settle in. Having spent most of my life living in the UK, I never ever once imagined I would be looking for a home to settle in the Cayman Islands. But with a twist of fate here I find myself, looking for my dream home in the sun. I very much look forward to this chapter unfolding.

Are You Sabotaging Your Own Career?

Fri, 10 Feb 2012 07:22:25 GMT

I would never say I am the perfect employee (unless I was talking to my boss.. who is probably going to be reading this at some stage. Oops). I make mistakes, as we all do. I’m only human. But I do strive to do my best and to make sure that when I do a task I always put in 110%

I came across an article this afternoon on fastcompany.com (click HERE to see it) which made me stop and think about what I can do to make sure that I do what is best for myself and my career.

There are just a few simple points which are made that you’ll kick yourself for not thinking of on your own.

Take note, and take action! Don’t be your own worst enemy!

Confidence building tips

Fri, 10 Feb 2012 07:20:24 GMT

Having self confidence is an important character trait and can affect almost every area of a person’s life, however a lot of people have difficulty finding it. It was reported in a British newspaper this week that the Queen was to give Kate Middleton lessons in self confidence, so I thought that I would look into “confidence” and find out how someone can build on it.

Here are a few tips:

Only focus on your achievements, do not spend time thinking about your failures. If you find yourself thinking about how you failed with something just focus on what you can do differently next time.

Focus on who you are and what you like about yourself, if you are struggling with this then ask your friends why they like you?

Always smile and stand or sit up straight.

Do not be too competitive or compare yourself with others, realize that life is not a competition.

Prepare thoroughly for any task you are about to take on so that you are prepared.

Learn from someone who you feel has self confidence, use them as your model.

Set goals for yourself and reward yourself when you have achieved them.

People often worry too much and this can affect self confidence, ask yourself what really is at stake and what’s the worst that can happen.

Develop a thick skin, rejection happens to everyone just try not to take it personally and do not let it affect your level of confidence.

Some useful tips for managing all those emails…

Fri, 27 Jan 2012 09:57:15 GMT

This week I have a little bit of email guilt. On Tuesday and Wednesday I largely ignored my emails in an effort to achieve a time consuming and tedious task that I just hadn’t got around to completing. Emails are almost unavoidable in the world of work today, and are definitely unavoidable in my job. What concerns me, something that is articulated very nicely by Seth Godin, is that “productivity loses to politeness”.

There are obviously two sides to this argument as email is still a valuable form of communication, and communication helps us to build relationships and achieve our goals. Responses to emails can also mean results but most of us would still be happy with fewer emails…

It would be quite possible to spend all day responding to emails and not achieving very much else. Unfortunately, that’s not often what we’re employed to do. However, following a productive couple of days, I’ve discovered some useful tips for managing my inbox:

Process emails in batches

Unless you’re expecting something urgent, it’s not necessary to check emails constantly during the day as this will constantly interrupt whatever else you’re working on. Dr Thomas Jackson of Loughborough University found that it takes an average of 64 seconds to recover your train of thought after interruption by email. So people who check their email every five minutes are wasting more than eight hours a week figuring out what they were doing moments before.

Read it and then respond

Many people have the habit of reading all their new emails before actually replying to them. I have been known to do this. This is ineffective for two reasons. Firstly, some of the emails might be forgotten about altogether. Secondly, this process is more time consuming, since you will probably need to read each email a second time before replying.

Keep it short and sweet

This benefits you and the recipient, particularly if you are both very busy. Address the essential items, leaving out unnecessary words and sentences. The use of paragraphs can make your email more approachable and easier to read. And write in a positive tone, as something in writing is far more easily misinterpreted when there is no voice or body language to back it up.

Use bridging emails

It can be important to let people know that you have received their message, query, or request, even if you won’t be able to provide an answer for a while. Acknowledging an email can mean the difference between leaving a positive or a negative impression.

Some of these tips might seem basic but it easy to fall into bad habits, especially when feeling overwhelmed. From now on I resolve to be productive (and polite!) by managing my emails more effectively.

http://sethgodin.typepad.com /

http://news.cnet.com/8301-13846_3-10037909-62.html?part=rss&subj=news&tag=2547-1_3-0-5

Nervous about your next interview? Relax!

Fri, 27 Jan 2012 09:51:35 GMT

Going to an interview can be very nerve racking. The nerves can get so bad, that you say things without thinking about them first. I remember I once went to an interview at a retail store. The woman interviewing me asked what kinds of clothes I liked to wear and I started off saying ‘Everything, really… Except not surfy clothes. I used to wear them a lot but I got a bit sick of them’. Maybe something I should point out here, was that the company I was interviewing for was one of the largest retail surf shops in Australia. Immediately realizing my mistake, I started back tracking to save myself. All I ended up doing was dig myself deeper and deeper into my little hole – And it wasn’t a comfortable hole, I can assure you.

That was the first interview that I had ever gone to, where I wasn’t successful. But I also don’t blame them in the slightest.

When going into an interview, the most important things to remember are: Be prepared. Dress appropriately. Know the company you are interviewing for. Relax.

You will most likely have heard people say that you should research the company you are interviewing for. They are right. You may be faced with questions like ‘What interests you about this job?’, ‘What could you contribute to this company?’, and ‘What do you know about this company?’. If you have looked into the company at all, you will come across in a better light than someone who hasn’t. It can look like you don’t care enough about the job to know about the company. And how do you know that you would be a great candidate for the job if you don’t even know anything about the company?

People form an opinion of you in the first 7 seconds. That is why you need to dress smart. Sit up straight. Smile. Exude confidence. It is very easy to make a first impression, but it is extremely difficult to make a second. During the interview, try to look the interviewer in the eye whilst you are speaking – not in a crazy stalker type way. You can blink, glance off to the side briefly if you’re thinking about your answer, but always return your gaze to the person interviewing you.

One question that seems to be quite popular in interviews is ‘What are your weaknesses?’ A lot of the time, this stumps the interviewee. We never think to point out our flaws to people. The trick to answering this question is to take your weakness and try to turn it into a positive. If like me, you aren’t overly organized, you don’t want people to remember that about you. Try to say something like ‘I used to be quite unorganized, but last year I developed a time management system which has allowed me to improve my organizational skills.’ Or I used one once where I said ‘I tend to talk a lot, but when I have work to do I always make sure it gets done. I think it could also be seen as a good thing though, as I am easy to get along with and can hold a conversation.’

There can be all sorts of questions thrown at you in an interview (the following website has a list of questions and examples of answers: http://jobsearch.about.com/od/interviewquestionsanswers/a/interviewquest.htm ). Some questions will be expected, others will just sound strange. Just try to relax and use the interview as a learning exercise. Make the most of it! Keep breathing and think about your answers before you speak. Who knows – if I had of taken my own advice, I could possibly be the owner of a mega-million dollar retail surf company by now! (I’ve often get told that I have a very creative imagination!!)

Dealing with stress

Fri, 20 Jan 2012 10:01:39 GMT

You may think that living on a Caribbean Island would be the perfect antidote to stress, but very few of us here have the luxury of laying on the beach drinking cocktails day in day out and so knowing how to manage stress is just as important here as it is anywhere. Stress is usually perceived as a bad thing but it can be argued that everyone needs a certain amount of stress to live a motivated life. A life without stress sounds ideal but without it, a person can feel under stimulated and bored. A little amount of stress can give a person vitality and zest, enough to get out of bed and provide motivation to get on with things they would rather not do. Stress in excess can however be a very bad thing and can lead to feelings of anger, anxiety, fear, distrust and can destroy relationships at work and at home. Stress also can result in health problems such as high blood pressure, heart disease and strokes. In order to cope with stress people often look to things unhealthy and ineffective to help them find relief such as overeating or under eating, using pills to relax, zoning out in front of the TV or computer for hours, smoking, drinking, or getting angry. Instead of the above healthier alternatives such as going out having fun with friends, getting a massage, playing sports, walking on the beach, going for a swim, taking a nap, taking a yoga or meditation class, eating a healthy diet, and generally laughing and having a good sense of humor are things that could help relieve stress more naturally and be a lot better for you.

Managing time better can help reduce stress but this can be difficult to achieve. Most people are trying to cram too much into one day trying to meet everyone’s expectations and trying to please friends, family and work colleagues, all of whom demand absolute attention to their needs. Prioritizing your life can help you manage your valuable time and lower stress levels too. Trying to understand what you are spending your time on can help you decide what to prioritize and what not to, you may even just drop the tasks which aren’t truly necessary this can make you feel more in control and less overwhelmed. Organizing your week by using a chart or a week at a glance diary can also help.

Learning how to say ”no” also helps reduce stress as you will then not be taking on more than you can handle.

Take control of your environment, if you get stressed in the daily rush hour, get up earlier or leave work earlier to avoid it or take a less travelled route. If going to the supermarket stresses you go at quieter times of the day or do your shopping on-line.

Avoid people who stress you out. If there is someone who causes you to feel stressed try not to interact with that person but if you have to limit the amount of time you spend with them you can perhaps interact with them by e-mail rather than face to face, failing that end the relationship completely.

Changes to WOL procedures

Thu, 19 Jan 2012 10:17:25 GMT

I blogged a few weeks ago about the Cayman Islands Department of Immigration issuing new forms for work permit applications and renewals. The situation is also the same for any WOL (Working by Operation of the Law) applications and payments.

If you have a work permit application or renewal rejected you can appeal the decision. In order to keep working while your appeal is being processed you need to submit a WOL application along with a payment equating to 6 months of your work permit fee and an application fee. In the past you then just had to pay the WOL fee every 6 months with a cover letter explaining you wished to continue with the WOL. However now each time a WOL six monthly payment is made an application form needs to be submitted along with documents including:

Proof of your enrollment in a pension plan
Proof of your enrollment in a health insurance plan
An original medical questionnaire if applicable (full medical only required every 3 years but HIV/VDRL is only valid for 6 months)
Copy of the appeal fee receipt
Copy of the employers Business License
Cover letter stating why WOL permit is required

As per my previous blog please remember Immigration will not accept old application forms or incomplete applications from March 1st 2012…You have been warned!

The link below will take you to the WOL application form on the Department of Immigration website.

http://www.immigration.gov.ky/pls/portal/docs/PAGE/IMMHOME/HELP/FORMS/WORKING%20BY%20OPERATION%20OF%20LAW_20110912_0.PDF

Sundance movie highlights corporate “tax-dodging”

Thu, 19 Jan 2012 10:05:26 GMT

A Royal Gazette article popped up in my Google alerts (and appears to have been hastily removed) drawing attention to Bermuda’s role in a movie premiering at this year’s Sundance Film Festival called “We’re not broke” which claims to expose widespread corporate “tax dodging”.

This isn’t a swipe at Bermuda, I’d be gobsmacked if Cayman didn’t get a mention quite frankly but it will be months till we get to find out (when it will hopefully be released on Apple TV).

Here’s an article about the film from openly-liberal-leaning publication The Nation: http://www.thenation.com/blog/165635/were-not-broke-movement-helped-spark-occupy-wall-street

In the interests of full disclosure, I am no right-wing libertarian wing nut (heck, I took several months off work in 2008 to volunteer on the campaign of a Democratic Senator). But the problem with so-called exposes like this is that they rarely address the issue that the US has a fundamentally unreasonable cross-border tax policy. Offshore companies generally become involved to allow big corporations to move capital around the world without being unfairly taxed. After all, if a US company makes money in an Argentinian sub that it wants to reinvest in one in Italy, why should it be forced to declare a dividend to the US parent that is subject to US tax before doing so? (Bear in mind, the profit has already been taxed in Argentina and could be reinvested there without further penalty). What has the US done to “deserve” tax revenue on profits generated in Argentina?

Individuals are taxed to pay for public services from which they benefit (in the case of roads and public libraries) or from which they could potentially benefit in some unfortunate circumstance (in the case of welfare related to old age, infirmity or unemployment).

It’s not impossible to extend this logic to companies, that benefit from access to a well-educated workforce, public infrastructure, law and order, a judicial system and so on.

But what benefit has a US corporation enjoyed from the US government in relation to overseas operations that would justify payment of taxes to the US government? This is just a case of “tax me if you can”.

Furthermore, the goal of a company is ultimately to return profit to shareholders in the form of dividends. In order to declare a dividend, the company must eventually repatriate profits earned from overseas operations at which point it presumably is taxed. Therefore the benefit of the US government is aligned with that of the shareholder. Profits will only be reinvested if the company believes that investment will yield yet more profit in the future. If the IRS is being diddled by the inappropriate funneling of profits around the world, so is the shareholder. Whilst the former might result in a fine, the latter would result in swift remedial action by the board of directors, whose job is to maximise dividends to the shareholders. If the Directors fail to do so, the shareholders themselves will act to replace them.

Where the so-called “tax-dodging” is a result of loopholes in the US tax code (that, for example, allow R & D costs to be written off in the year incurred) that cannot be blamed on offshore financial centres. And the “loopholes” were presumably enacted to achieve some benign end (often, badly needed economic stimulus). Hopefully the film-makers have considered the negative impact on the economy of scrapping any tax concessions they have described or portrayed as “tax dodges”.

Say the film-makers: “Neither one of us had any experience in this type of high finance prior, so we thought it was a great challenge to dive into.” It’s just as well the ins and outs of “high finance” are easy to pick up from a few interviews with sympathetic sources.

Robust and fair-handed an analysis as this film is bound to present, it can’t live up to the seminal work on US corporation’s use of offshore vehicles, The Daily Show’s 2005 classic “Gimme Shelter” .

In the immortal words of Ed Helms, “taxes are for d****bags”.

Market Update: Bermuda Expels “Unwanted” Permit Holders?

Mon, 16 Jan 2012 10:15:27 GMT

In a move unprecedented among offshore financial jurisdictions, the Bermuda Government has notified companies throughout the hospitality industry that some of their lowest-paid workers must stop working in a matter of days and return home.

According to Royal Gazette, many cleaners, porters and dishwashers who had been employed under Bermudian work permits had been suspended following the implementation of a moratorium last year.

Cayman’s Approach to Bermuda

Labour market watchers, recruiters, and job seekers in the Cayman Islands will pay close attention to the Bermuda market. How does this affect the Cayman Islands? Well, we have taken a totally different approach to the situation. Bermuda’s actions raised a proposal in the Cayman Islands by George Town MLA Ellio Solomon to designate specific jobs as “Caymanian only”.

With the terms of the moratorium, it is no doubt that employers should have seen this coming and planned accordingly. The result of employee scarcity couldn’t have hit the hospitality industry at a worse time. Furthermore, the move is bound to attract the attention of employers in international business as it signals an apparent willingness on the part of the Bermuda government to intervene directly in the employment market when it considers it to be in the public’s interest.

A skim of the comments have flooded the Gazette piece, demonstrating how controversial the move is among Bermudians and residents. There is no doubt that Caymanians also have a thing to say. With strong views entrenched on both sides, it remains to be seen how this will pan out socially, economically and politically.

How Bad Will the Impact Be?

What seems certain is that employers will be forced to increase their salary rates so qualified Bermudians remain attracted to the open positions. That cost will either be passed on to the consumer in the form of higher prices or absorbed by lower profits in the business. Given the well-known decline in business, the former seems more likely.

We know this is all a bit abstract. To gain a better understanding of the impact, think of this scenario:

3 employees, working 8 hours on average at a 50-seater restaurant, have been affected by the rules. The restaurant needs to increase pay by $5 per hour to find replacement staff. That equates to an increase in costs of $120 a day (around $3,600 per month). A 50-seater restaurant may average 40 covers per night (equivalent to 100 on Fridays and Saturdays and 25 every other night). Hence the cost of each meal would need to increase by $3, likely around 5-20% of the total price of a cover, depending on the restaurant’s standard.

Whilst those numbers are arbitrary (replace them with whatever numbers you like!), they help give a sense of perspective. The real impact on the price of a meal/profit of the business will be between $1 and $5 per cover.

There is a possibility that the price increase can take a toll on many hospitality businesses and push them out of business. While we hope this will not be the case, we may find that restaurants at the higher end, whose prices will increase less and whose diners are less concerned about cost, in any case, will likely be okay.

The Impact on Bermuda’s Locals

With new rules in place, what does this mean for Bermuda’s local community? Regarding the Bermudian local labour pool, it would be interesting to discover how many people will benefit from the increased pay rate and how many jobs will now be available. Great news; from our experience, locals benefit more when governments place barriers on work permits. Why? This forces employees to search within the local pool for qualified talent.

Make the Move

Are you looking to work in the Cayman Islands , Bermuda or BVI? Avoid complications and make the relocation process easy by working with a recruiter! Contact CML Offshore Recruitment’s team at info@cml.ky for more information.

Interview tips – body language

Fri, 13 Jan 2012 10:01:30 GMT

It’s a silent language which remains on a subconscious level but your body language can speak volumes about you without you even being aware of it.

It is likely that if you have a strong CV you may well land an interview for your dream job but your chances could be wasted with weak body language even if you have polished up your verbal skills. It is said that a first impression is made within the first three to seven seconds and a first impression is very difficult to overcome so here are a few tips on good body language when attending an interview:

Try to sit up straight, if you slouch in your chair it can suggest to the interviewer that you are bored, tired and not bothered about the interview. Instead, sit up straight, plant your feet squarely on the floor and make eye contact with the interviewer.
Do not fold your arms across your chest, this posture can look quite defensive and can look as though you aren’t interested in the conversation.
Try not to fidget, wiggling your foot or shaking a leg can appear that you are nervous and uncomfortable.
If you point your feet towards the door or lean in that direction can suggest that you are in a hurry to leave and want the interview to end.
At the interview look the person in the eyes when introducing yourself and firmly shake the interviewers hand, try not to sit down before the person conducting the interview does.
Do not invade the interviewers personal space, in most cases there will be a desk in front of you but if not around three feet away is comfortable for most people.
When responding to an interview question speak directly to the person who asked the question, if there are a few people in the room, glance at them briefly but always return back to the questioner before ending your response.

So you thought taking tests was something you left behind at school… think again

Fri, 13 Jan 2012 09:54:43 GMT

When candidates apply to myself and Louise at CML, one of the first steps of the application process is to complete three online tests. This is because on the Admin and Support Services team often we are asked by clients what level a candidate is at with regards to typing, Microsoft Word and Microsoft Excel. So if we have candidates complete these tests at the initial registration it saves time for us and the candidate further down the line.

So why am I talking about (boring) online tests you might ask? Well this week I have spent my whole week running a testing centre for one of our clients for a particular position we are recruiting in to.

The position is in the Accounts field, which means the online tests are different from those that we ask candidates to do when initially registering and so it has been a lengthy process. Both for me and the candidates…

I have been amazed this week at how nervous our candidates are when they come in to sit these tests and so what I wanted to offer here was a bit of advice to anyone who finds themselves sitting such tests, whether it be for a specific job or even just to brush up on your skills.

1) Do a bit of research before sitting the tests. There are plenty of websites online you can go to, to brush up on your math skills or typing etc…
2) Take your time…like with all tests when you are flustered you tend to rush and make careless mistakes
3) Use what’s available to you – so for example if a test says you CAN use a calculator if necessary, use it! Don’t struggle through when you could easily help yourself.
4) Show up for your testing time early, that way you won’t be stressed if you are running late.
5) Read the question and the read it again, it’s amazing how often people misread questions.
6) Finally – Take a deep breath and relax. Whatever happens, it’s not the end of the world!

For further information on the tests we offer please get in touch at t.turrell@cmlor.com

Matchmaking with a difference

Thu, 12 Jan 2012 09:27:52 GMT

At some stage last year, I suggested to our boss that we start a matchmaking department in our office. I figure it isn’t that different to recruiting – and it would be WAY more fun! The idea wasn’t met with as much enthusiasm as I had expected… in fact I think he laughed at me and went back to work (and probably expected me to get back to my job as well… which… ah-hem… of course I did)!

I was thinking about it the other day… Recruitment is a form of matchmaking. We take a job description and match it with suitable CV’s. Send the owners of the CV’s on ‘dates’ (interviews) and cross our fingers and toes (and everything in between) that one of them would be a match made in heaven! Okay, so it’s a little bit more complicated than that, but you get the drift.

I read a couple of articles this morning about recruitment agencies being bad – they never contact you back, they sell your details to other agencies, they have their own agendas… It frustrates me that generalizations were made about all recruitment agencies when these people had bad experiences with one or two companies. Would you say that all action movies are bad just because you didn’t like the Rambo series??

I can’t talk on behalf of all recruitment agencies; I can only say what I know from working at CML. So I will take a couple of points taken from different articles and try to rebut against them:

Recruitment agencies are all the same
Don’t be stupid, they are not. That’s like saying every guy with brown hair and green eyes is going to cheat on you because it’s happened once before.
Recruitment agencies are the middle men that steal your money by the hour
My dear friends: we provide a service. We provide a service to our clients by helping them find the best employees. We provide a service to you by helping you to find work. At CML, we do not charge our candidates. We bill our clients. Would you provide a service to someone and expect not to get paid?

They steal your details to put on lists, and then sell them to other agencies
Our business is built on being reliable, professional and being good at what we do. Why would we sell your details to other agencies, when that would prevent us from placing you ourselves? Why would we sell your details to ANYONE? Not only do we not have the time to do that, it isn’t in our best interests!
Recruitment agencies are keeping people out of work with their ridiculous and over complicated sign up policies
There is a reason that we ask for references, forms to be completed, passport photos etc. Our clients trust us to find the most suitable candidates for each job. To do this, we need to see references to verify what you have said about yourself on your CV and in your interview. We need you to complete different forms for various reasons – work permits mainly (for international candidates), health insurance, and for our database so that we have your details on file for when we need them. Your passport photos will go on your work permit application. It’s an immigration requirement. We don’t ask for them so that we can sit there staring at you all day. Sorry – but we don’t.

Now there were a lot more points that were made in the articles I read, but I think I will start finishing up as I’m sure this isn’t exactly the most interesting reading material you’ve ever found.

Companies ask us to assist them in the hiring process. It saves them the time of going through 50 CV’s when there are only 15 in the pile that actually fulfill all the requirements of a specific position they are hiring for. If you are one of the people whose CV did not fulfill all requirements, we still have your details on file and can contact you when another position arises that you would be better suited for. If you apply directly to a company it may end up in the bin.

At CML, our recruitment consultants are friendly, professional and always willing to help. If they don’t think we will be able to find work for you, they will let you know. There is no reason for us to give you false hopes.

That is all… I’m feeling a little bit peeved at the moment. Can you tell?

Things to do in Cayman when you’re on holidays!

Fri, 06 Jan 2012 09:35:09 GMT

Every day over the holidays I woke up early and got out of bed with no problems, after being up late entertaining our guests – so why am I finding it difficult to get up in the mornings now that I’m back at work?

The only reason I can think of is that my holiday wasn’t very relaxing, and my body is recovering. Don’t get me wrong – I enjoyed every minute of it, but we were always doing something.

When you are an expat living in the Cayman Islands, having visitors over is always exciting. You get to show people why you call this island home. You get to share your new life with them and remind yourself why you are lucky to be here, and how much you take it for granted (well I do anyway).

Having visitors gives you the excuse to re-visit all the ‘touristy’ aspects of Cayman all over again. It actually makes you feel like you’re off somewhere on a holiday yourself. You tend to forget all the stresses of work, which is a great way to switch off and relax.

Here are a few of the things we did with our visitors. You can use them as a guide for the next time you have visitors!

Swimming with Dolphins!
At Dolphin Discovery, on West Bay Road, you can have the experience of a lifetime by swimming with dolphins! There are a number of different packages to choose from. We chose to do the Royal Swim, which includes: A dolphin kiss, a dance with the dolphin, a water fight, a ‘foot push’ which involves the dolphins lifting you out of the water, and a dorsal fin ride.

These dolphins are truly loved by their trainers, and receive the best care imaginable.

Stingray City!
Interact with one of the most beautiful creatures in Cayman. The stingrays at Stingray City are friendly, and are used to being around hundreds of people each day. Get some good luck by giving one a kiss! (Check out our Stingray City video HERE )

Diving!
We went diving with a company called Happy Fish Divers. Happy Fish are the company that Rob and I did our PADI course through. They have also helped my sister and a number of friends. The staff are all friendly, and extremely helpful. One of our friends had not done a dive before, so she was taken on a ‘discovery dive’. The discovery dive was a lot more than any of us expected – she was escorted by one of the Happy Fish staff and taken down 60ft to experience a whole new world. She loved every minute of it! If you are interested in taking your friends on a dive, call Happy Fish Divers on (345) 547-5699.

Turtle Farm!
Take your guests to the turtle farm (located across the road from Dolphin Discovery – if you buy the Royal Swim package, you get free admission to the Turtle Farm!). Learn all about turtles and their habits, hold baby turtles and even see a brown shark!

The Beach!
You probably won’t need any convincing to take visitors to the beach. We have several beautiful beaches in Cayman. 7-Mile Beach has actually been named the most beautiful beach in the Caribbean! (watch our CML TV video HERE ). A couple of my other favourite spots are Rum Point and Smith’s Cove.

New Immigration Forms Launched

Thu, 05 Jan 2012 09:39:09 GMT

The Cayman Islands Department of Immigration have launched revised application forms in order to assist with the streamlining of their operations.

The new forms, which are available to download on the Immigration website www.immigration.gov.ky , include a definitive checklist to ensure all applications that are submitted are complete.

With effect from March 1st 2012 Immigration will no longer accept incomplete applications, which in the past has resulted in a lot of wasted time when applications are being processed.

The Immigration team at CML will be even more vigilant now when it comes to making sure all documents received are fully complete and provided to us in a timely fashion and will not be able to submit any applications to Immigration which are not fully complete.

Please see the link below to the article regarding the new forms in today’s Cayman Compass and help us help you in ensuring any permit documents we ask you for are provided in full.

http://www.compasscayman.com/caycompass/2012/01/05/Immigration-launches-new-forms/

From Bermuda to Cayman Islands: Six Months In

Thu, 22 Dec 2011 09:46:41 GMT

I have been living in the Cayman Islands for six months and am incredibly excited to spend my first Christmas here in the Caribbean!

Christmas in the Cayman Islands

Christmas in the Cayman Islands is an experience; the entire community goes all out for the festive season! Having lived in Bermuda, where Christmas was a lot simpler, I love all the over-the-top Christmas lights, giant Christmas trees, and decorations everywhere.

However, I am British; therefore, Christmas feel unreal without the cold, damp weather we have in the UK. Especially as this will be my husband and I’s first ever Christmas without either of our families around to celebrate. We’ve opted for a relaxing Christmas lunch, but that will not stop us from having a few glasses of champagne on the beach followed by an authentic British roast dinner with all the trimmings (including the dreaded sprouts!). Don’t feel too sorry for us; we have had many invites to various social events over Christmas and New Year. Celebrating with friends makes me realise how easy it has been to settle into living in Cayman and how friendly people have been to us.

Christmas with CML Recruitment

The CML Offshore Recruitment team are the perfect example of how friendly and welcoming the Cayman community can be in helping your transition to life on the island. Having not worked in an office environment for a few years before moving here, I was apprehensive at how easy it would be to fit into an already established office. However, I was made to feel welcome from the very start and have made really great friends at work.

The highlight thus far was the fantastic Christmas party we hosted. Now, I believe it wouldn’t be Christmas without CML and being voted ‘Most Organised’ in the office by my colleagues at our annual CML office awards!

The CML team are more than happy to go out of their way to ensure their candidates feel welcome. Whether they are changing careers on the island or planning the big step of relocating to the Cayman Islands, CML ensures everyone is happy. Our talented recruiters are all experts in their field and have over 56 combined years of recruitment experience. Their expertise is second to none.

So, as we look forward to 2012, I want to thank everyone at CML for making me and all those who have helped me gain employment over the last year feel special.

Merry Christmas and Happy New Year to family and friends, home and away!

UK Vs Cayman: What Does the Job Market Look Like?

Wed, 07 Dec 2011 09:53:20 GMT

As the UK’s job market begins to spiral, there is a heavy chance the Cayman Islands will also become affected. What does this mean for Cayman, our job seekers, and our future? In this blog, we speak about the current UK and Cayman job market changes.

The UK’s Job Market VS Cayman

CAccording to a blog in the UK’s Daily Telegraph today, Britain’s job market has rapidly declined as more employers delay hiring decisions. What does this mean for the Cayman Islands? As recruiters, we are happy to announce that although the UK’s job market is plummeting, there is still enthusiasm for job seekers. CML Offshore Recruitment has undoubtedly seen an increase in the number of CVs received from all business sectors. While this is excellent news for us recruiters, that does not mean there is an abundance of jobs available to meet the demand of job seekers, and it does not mean Cayman’s hiring managers and employers are able to recruit actively at this time.

However, we would argue that whilst Cayman’s turnover rates in roles have been steady, the job market growth in the Cayman Islands is still moving in a very positive direction. With various initiatives underway by large organizations such as Cayman Enterprise City and CI Hospitals, 2012 should allow us to increase the introduction of more candidates to clients.

Search for Talent Continues Overseas

In the face of redundancy and difficulty finding qualified local talent, employers in the Cayman Islands have resorted to searching overseas for the next set of qualified talent. Here are a few roles employers recruit overseas for:

Newly qualified Auditors.
Seniors with financial services experience.
Funds Accountants with experience.
Lawyers with experience.
Insolvency Practitioners.
IT specialists in the following areas:
Virtualization/Infrastructure
Software Development
Networking
Legal Secretaries, Paralegals and Corporate Secretaries
Trust Managers

Working in the Cayman Islands

As with most offshore jurisdictions such as Bermuda and BVI, potential candidates must gain an approved work permit before officially relocating. If you are currently located overseas, you will be especially attractive to potential employers if you are single or have a partner with a professional designation. Additionally, many employers will search for candidates with no children, as this can be an added to the overall costs of recruiting you to the island.

Many people think that Cayman is too good to be true. We are a tax-neutral jurisdiction with a comparable cost of living, good work-life balance, and we are never more than a few minutes from the beach! Who wouldn’t want to live here?

If you are seeking to relocate to the Cayman Islands from the UK, Bermuda or BVI, CML Offshore Recruitment is the place for you. Feel free to contact info@cml.ky to get in touch with our experienced team for relocation, job search, and recruitment assistance.

One-stop Bermuda “Job Centre” takes shape

Sun, 04 Dec 2011 09:58:40 GMT

Good news for Bermuda job-seekers. The government is moving ahead with a one-stop career-shop that provides Bermudian job-seekers with a range of much-needed services.

From the Bermuda Gazette :

“Services and facilities will include a job listing databank, pre and post employment assistance, training assessment and development, job referrals, employment and career counselling, apprenticeship programme referrals, trade certification, assistance with financial aid and scholarships as well as Internet and computer services.”

The proposal bears a striking resemblance to the Human Capital Development Agency announced earlier this year by the Cayman Islands’ Minister of Employment. It will be interesting to compare these government agencies in form, function and performance as they both take shape.

As the economy continues to sputter in Cayman and Bermuda, with unemployment in both countries stubbornly high by all accounts, both are badly needed.

What do you think? Can such agencies make a difference?

Raising of the Bar for Funds Lawyers in Cayman

Fri, 02 Dec 2011 10:30:14 GMT

According to several partners at Cayman’s leading law firms, the global financial crisis and the subsequent collapse in demand for fund formation work have caused the landscape for offshore funds lawyers dramatically.

Although there has been a gradual re-emergence of instructions filtering through over the last two years, the workflow level is still well down from the dizzy pre-GFC highs. In addition, Maples & Calder and Walkers, the two historical stalwarts of the Cayman Islands funds scene, have seen their major competitors expand their Cayman operations in a determined effort to play catch-up and increase their market share.

The Effects on Candidate Funds Lawyers

A decrease in the amount of work and increased competitiveness for winning that work has in turn, caused a number of the major law firms to more sharply define the profile of the lawyers they wish to employ in this key lucrative area. As well as being able to demonstrate either outstanding or very strong academics, candidates wishing to make a move to the Cayman Islands will almost always need to have undertaken their training and gained their post-qualification experience at a top 10 London law firm, a major US firm in London, or a top 3 Australian or New Zealand firm.

Are you seeking to become a registered Lawyer in the Cayman Islands? CML Offshore Recruitment has written an insightful blog on the requirements for becoming a Lawyer on the island – Click here to read all about it!

What are Law Firms Looking for?

We have observed that candidates with experience from the regional offices of the major UK national law firms struggle to get interviews. Many law firms seek candidates at the 3 – 4 PQE level as many firms are already well-stocked with senior associates and keen to bring more junior associates through the ranks. And an aptitude and willingness to go out and win work have become ever more crucial in this new landscape. And as Brazil’s importance as a global economic power develops, many offshore law firms are increasingly looking for candidates with Spanish or Portuguese language skills to take with them on their marketing trips to New York and South America.

Discover whether your experience and skills meet the requirements for Cayman’s law firms. CML Offshore Recruitment’s legal team would be happy to review your resume and guide you on your career path. For more information about becoming a lawyer in the Cayman Islands, don’t hesitate to contact us at info@cml.ky .

The game-changer we’ve been waiting for?

Fri, 02 Dec 2011 10:19:39 GMT

With IMAC’s annual Captive Forum in full swing, McKeeva Bush took the opportunity to detail a plan to attract reinsurance companies at an unscheduled speech at Wednesday night’s Camana Bay reception.

Though the potential significance seemed lost on many, offshore industry insiders were left carefully parsing the speech and prognosticating on its impact for a good part of the night and ever since.

The incentive package apparently includes:

Flat work permit fees (level TBA but expected to be in the low four figure range)
Waiver of normal immigration restrictions on the hiring of foreigners.
Administrative work permit processing (meaning no Immigration board nor attendant delay, bureaucracy and arbitrariness)
Ten year work permits for anyone VP or above (meaning PR virtually assured)

The bottom line is that the cost and bureaucracy that has bedeviled the Bermuda industry in recent years appear to have been taken off the table for Cayman-based counterparts.

Though it remains unclear precisely when or how the incentives will come into effect, the Premier’s comments strongly suggested the incentive package has the support of his Cabinet, all that is required since none of the proposals so far revealed would require legislative amendment.

Watch this space. I would imagine many in Bermuda will with apprehension.

Go Green!

Fri, 02 Dec 2011 10:14:26 GMT

Here at CML we try to be as conscious of the environment around us as possible. In Cayman this can be difficult as there are no real recycling methods in place, which when I think of all of the things I love about Cayman this is probably the only downside I can come up with!

Here are my top tips for being green in the office; if anyone can think of any other great ideas please let me know…

– Turn all computer equipment, machinery or other mechanical appliances off when not in use.

– Reduce and re-use waste. For example, print or photocopy on both sides of paper, recycle envelopes and labels and turn scrap paper into notepads.

– Switch off any unnecessary lighting during the day, in sunny Cayman if you are sat near windows it’s unlikely you really need all the lights on! Position desks and workstations to make best use of natural light.

– Ask the last person to leave the office to ensure that they turn everything off including printers, drinks machines, fans, computers and lights.

– Make sure your AC is on an ‘environmentally friendly’ setting… it doesn’t need to be like an igloo all hours of the day… this will also save your boss $$$!!

– Ask colleagues if they would be interested in organising a green travel plan. This could include car sharing or even walking to keep fit at the same time.

– Use reusable crockery and glasses as opposed to plastic cups and disposable plates/cutlery. If your boss is not happy spending money on this then bring a mug in from home!

– Use email or notice boards to share information instead of printed memos. Don’t print anything unless you have to!

Why choose CML?

Fri, 02 Dec 2011 10:11:52 GMT

What makes CML different to other recruitment companies? That’s easy – the people.

FI have worked with CML Offshore Recruitment for the past 2 years and
I often have people coming up to me asking: ‘Are CML actually any good?’ – well it depends what you’re asking about. Are we good at soccer? Some of us are. Are we good at singing? Probably not at the standard you’re thinking of. Are we good at recruitment? I guess it all comes down to opinion. In my opinion – Yes they are. You may notice that I say ‘they’. Well I’m not on the recruitment side of the company, so I can’t exactly say ‘we’, now can I?

Our recruitment consultants offer something that I don’t think you will find in many other places – personality. They don’t come across as robots who are only interested in your work history and what type of job you are interested in. Our recruiters actually care – They care what you want, they care what you need, they care about who you are, and they care about how you’re getting on.

You are probably thinking that I’m a little bit biased, and maybe I am – but I’ve seen all of this in person.

Our recruiters have knowledge – and not only about the Kardashians! They know the market here in Cayman. They understand what our clients are looking for. They know what it’s like to be new on island.

Each of our recruiters is a ‘people person’. They all have their own quirks that make them unique. And I guess, in a way – quite loveable. They are professional, and always seem to make people comfortable and at ease. Check out the testimonials from some of our previous candidates here.

Rise in Qualified Accountants in the Cayman Islands

Thu, 24 Nov 2011 10:37:12 GMT

CML Offshore Recruitment’s financial services recruitment team has seen a sharp rise in the demand for qualified accountants. With this demand comes a rapid surge in more vacant positions.

Over the years, CML has worked with countless clients to recruit and place qualified accountants and lawyers in the field. This is also the case in our offshore jurisdictions, such as Bermuda and the BVI. Spikes in demand are mainly attributed to seasonal trends due to the upcoming “year-end” period, which is typically the busiest financial reporting period of the fiscal year.

The financial sector in the Cayman Islands is blossoming, and we recommend you be a part of it! If you are a qualified accountant seeking to work in the Cayman Islands we highly recommend making the move to further your career. Our professional immigration team at CML Offshore Recruitment would be happy to assist you with your job search and the recruitment process.

Temporary Work for Accountants

Furthermore, CML has also noticed multiple clients asking for Fund Accountants temporarily to help onboard new clients, which is always a good sign for the market as a whole. Not completely sure about accepting a temporary role? We’ve written many blogs on the career and financial benefits of accepting temporary or contract positions.

The accounting field isn’t only for the highly experienced. Are you a graduate looking to pursue a career in the accounting field? Make your way up the corporate ladder by applying for entry-level and temporary accounting placements. Additionally, CML can assist you with establishing your goals so you can take the right steps to jumpstart your career.

Find or Become an Accountant

Suppose you are a hiring manager working in the Finance and Accounting industry and have yet to find qualified accountants for the Year-end period, or you are a qualified accountant hoping to make a switch to the Cayman Islands. In that case, CML Offshore Recruitment has all of the details. Click here to find a qualified recruiter or contact us at info@cml.ky for more information.

Life’s a beach on Seven Mile

Mon, 21 Nov 2011 10:45:09 GMT

As the whole world knows, the Cayman Islands is known for our crystal clear waters. So, what better way to spend your mornings than by waking up to the azure waters of the Caribbean Sea, and coming home to beautiful Caymanian sunsets after a short commute from work.

Life on 7-Mile is the best!

There are not too many places in the world where living on the beach is affordable. With beautiful seas, amazing sunny weather, a quiet atmosphere, and an endless strip of restaurants and attractions, you won’t ever have to wonder what your next move will be. Life on Seven Mile allows you to be close to everything the Cayman Islands have to offer! From fine cuisine offered by the elite restaurants such as Yoshis, Copper Falls, and Ritz Cartlon’s Seven, to shopping at Cayman’s famous J & Micheals, enjoying the cinema at Camana Bay or simply lounging on the beach and soaking in the rays.

Sail on the Seas.

Q4 Finance and Accountancy recruitment trends in Cayman

Fri, 18 Nov 2011 11:24:22 GMT

Following on from my previous post http://www.cmlor.com/blog/what-sort-of-companies-exist-in-cayman/ , I just wanted to do a bit more of a feature on recent recruitment trends within the Qualified Finance & Accountancy market in Cayman.

There has been roughly an 80/20 split between permanent and temporary opportunities arising, with a noticeable rise in temporary opportunities compared to previous quarters, which is a seasonal trend due to ‘Year End’ fast approaching. The Fund Administration, and Directorship & Fiduciary Services firms have been the busiest, accounting for roughly 40% of the total recruitment taking place, spread quite evenly between the two sectors. The Banking sector and the Audit firms have also been reasonably busy too, taking up 17% and 13% of the overall Qualified Finance & Accountancy recruitment. The Audit roles have mainly been coming up from the ‘2nd tier’ firms.

Recruitment has been fairly evenly spread across the other main industries (Trust 3%, Captive Insurance 9%, Company Mgt Company 3%, Insolvency & Restructuring 6%, and General Industries sector 6%).

It’s important to point out most Trust roles are recruited for by our specialist Trust & Administration team, headed up by Louise Reed, including those searching for STEP qualified candidates, so I have only included in my figures those roles looking specifically for qualified CA, ACA, CPA, ACCA, CMA, and CIMA, or those with relevant Insolvency, or Relationship Management qualifications.

From speaking to our various clients, the generally feeling in the market is that most positions are being created due to replacement, mainly caused by people moving positions or leaving the island. There are certainly some firms out there talking of growth though, bringing on new funds, and taking on additional help due to improvement projects. It’s fair to say the Cayman market is in a much healthier position than either the US or Europe, and is showing some positive signs as we head towards 2012.

At present, we are specifically interested in talking to candidates who are available at short notice to undertake temporary and contract assignments, with a strong preference to those candidates with either Caymanian status, or at least already living in Cayman. Candidates must have a relevant accountancy designation, and ideally have some financial services experience as minimal training and supervision will be provided in these sorts of positions.

In addition to this, the ‘Top 4’ audit firms will begin their recruitment drive again in Jan/Feb 2012 for their April intake, so we’re putting a call out to all Audit Seniors who have recently qualified to get their resumes updated and sent in to us so that we can get you ready to go for the beginning of next year.

And finally, if you’re currently working within financial services and considering making a move early next year following your bonus payment, please give us a call now so that we can talk you through your options.

+1 345 949 1345
Jamie Carter or Sinead Byrne
F inancial Services & Accounting Team

Dear Santa

Fri, 18 Nov 2011 11:16:59 GMT

Dear Santa,

First off, I wanted to let you know that I’ve been a REALLY good girl this year. If my mother tells you otherwise please ignore her – she doesn’t know what she’s talking about.

I hope you’ve had a great year. Mine hasn’t been too bad I guess! I went to Boston in January – I got to see snow! You probably wouldn’t share my enthusiasm too much though, would you? You’re probably so sick of the snow since you’ve been up at the North Pole for so long. I thought it was great though… I didn’t get to experience a sleigh ride but I did get to go on a bus. It took me all the way up to Wrentham Village where I did lots of shopping. Actually, there were a few things you forgot to leave for me last Christmas so I thought I would save you the trip back and get it all myself. I know what you’re thinking – I’m so thoughtful!

So do you get away from the North Pole much, or are you limited in the time you can take off? I also had the opportunity to go to Ireland in June. It was my first trip to Europe. You’ve probably been there a gazillion times. What’s your favourite part? We went up to Newgrange – which believe it or not is WAY older than you. It was built before the pyramids, how cool is that! You should go past there whilst you’re doing your deliveries this Christmas. It really is amazing.

I also went to New York this year. I was actually there a couple of weeks ago and was able to go ice-skating in Central Park. Do you have ice-skating at the North Pole? Have you ever tried it? Or are you a little worried that your weight my cause you to break the ice and fall in? I could leave you skinny milk on Christmas Eve if you think that would help? You really have to try it one day, so a diet could be a good place to start.

Well anyway, I know you have a lot to get through over the next couple of months so I’ll wrap up here. I just wanted to thank you so so so much for my presents last year. They were all great. You didn’t get me anything that was on my Santa List, so you may need to get your eyes checked. Or maybe one of the elves can start reading out to you if that makes it easier?

Before I go, I just want to remind you that I’ve been really good this year. I’ve been working really hard (if my boss tells you otherwise you can ignore him too!), I’ve joined a gym (I’ve been once, but everyone has to start somewhere!!), and my New Year’s resolution was to not have ANY coke for a year. I’m proud (and surprised!) to say that so far so good! I smelt a coke a few weeks ago, but didn’t actually drink any of it.

I’m sure you’d agree that not only have I demonstrated how good I’ve been, I’ve also done a lot for you – went shopping for you in Boston so you didn’t have to do a non-Christmas trip all the way back here; offered healthy eating tips so you can go ice-skating; and I’m very grateful for my presents last year EVEN THOUGH they weren’t ones that I asked for.

So, can I please have a puppy?

Yours Sincerely,
Abbey

Life on 7-Mile is the best!

Sail on the Seas.

First Day Nerves

Thu, 17 Nov 2011 11:30:57 GMT

In my career to date, I have worked for a variety of different companies and I still can’t help but be nervous about my first day working somewhere new.

First impressions usually do last, so always try and be the best version of yourself when you start in a new company. A couple of tips for this are:

Most important is to be punctual, turning up late on your first day is a big mistake!
Dress appropriately. If you have interviewed in person you should have an idea of the company’s dress code and just how businesslike they will expect your clothes to be. I always feel you are better to be over dressed rather than to be too casual.
Don’t be afraid to ask! If you haven’t been shown where the bathroom is or where to get a coffee from just ask. If you are asked to undertake a task and aren’t sure about something, speak up.
Don’t be afraid to correct someone if they get a fact about you wrong. Trust me, having to be called “Belinda” by one member of staff for 3 months because I was too afraid to correct her on my first day, was just annoying!

Take a look at this link for a few funny “Worst First-Day” stories and just think… “It could be worse!”

http://www.cbsnews.com/8301-505125_162-57326218/new-job-5-worst-first-day-stories/?tag=re1.channel

What is Virtualization?

Fri, 11 Nov 2011 11:40:13 GMT

There are thousands of companies domiciled here in Grand Cayman. Many of which have relatively small headcounts; by way of staffing. As a result, what personnel there happens to be based in the offices are focused on the money making initiatives; whether that be fund accounting, trading and auditing on the financial services side and lawyers, attorneys and barristers on the legal side.

More often than not, us poor IT guys are merely an after thought. With larger onshore offices handling the infrastructures, development, networking, testing, implementation and so forth, there can often be fledgling departments, and only essential personnel, on hand to assist with help-desk queries and user set up.

The smaller companies therefore will tend to either outsource their IT requirements to a consultancy or they will hire a hybrid member of staff; someone adept at the basic IT requirements, whilst focusing on their primary business need.

It is these companies, that will often approach me and ask about technology, future developments, programs, software and so forth. One of the more frequent requests is about Virtualization. i.e. what is it, what are the main programs and who are the main market players?

Without wanting to harp on too long with techno jargon – I’ve simply attached the wiki definition of Virtualization. http://en.wikipedia.org/wiki/Virtualization . Next week I’ll be able to go into more detail on the main protagonists.

Fortunately Virtualization is one area (of many) in the industry that CML has a vast array of top quality candidates, so if you do feel a need to bring someone on board, on either a short term contractual assignment or on a permanent basis, this is definitely something that we’ll be able to help you with.

Feel free to contact me on (345) 949 1345.

Shaping Cayman’s Future

Fri, 11 Nov 2011 11:36:08 GMT

I don’t know about you guys, but I didn’t have much career guidance when I was at school. One of my teachers asked me what I wanted to be ‘when I grew up’ (I was 17 at the time) and I told her that I wanted to pursue a career in acting. She then snorted at me and told me to pick a real job because there was not a chance in hell that I’d get anywhere with unrealistic dreams. As you can imagine, I was overjoyed with the high level of support that was being offered to me by my awesome teachers. We didn’t have any form of career guidance at my school, except for being told that we had 2 months to apply to different universities so we had better hurry up and make a decision on what we want to do. It was all a bit of a rush, and the only information that was given to us what a big book with all the courses listed in it, and explanations of what the course involved. There was nothing to help us decide what we would be best suited to, and no information explaining what each career path entailed.

Most (if not all) of you would have heard about CML TV. If not, wake up and smell the coffee – We’re kind of a big deal!

If you’re in Cayman at the moment, chances are you’ve also heard about CML TV’s Career Guidance initiative. It’s been in the news; it’s been on our Facebook page and guess what!? You’re now reading a blog about it (don’t you just love the power of social media!?).

We have partnered with the Ministry of Education, Training and Employment and the Cayman Islands Society for Human Resources Professionals (CISHRP) to produce this series, aimed primarily at local students who are in their final stages of high school and are at that crossroad in life where they need to decide what career they would like to pursue. Although the series is aimed at these students, it could also benefit the wider community as well.

We are producing these videos to help educate viewers about different opportunities available in Cayman, and to provide constructive advice on how to secure employment in each profession, including academic pre-requisites and scholarship opportunities. In addition to this, we will be able to demonstrate different paths that can be taken in each profession to achieve long-term career goals.

ICCI and UCCI have also agreed to be a part of the initiative, by providing information on different courses that are available and relevant to each career path.

Local audiences will be able to relate with the people in the videos as each video will feature Caymanians who are working in each career path. There will be a “day in the life” segment, shadowing a young Caymanian in the profession to show what a normal day in the office would be. Interviews will be shown with people at different stages in their careers so that viewers can gain a realistic idea of the work that is involved and the level of dedication required.

Local companies also have the opportunity to become involved in this project by sponsoring career paths relevant to them. Through HD video, we have the opportunity to show students all the positives to working in each of our fields. We can introduce them to companies and people that they could potentially work for in the future.

These videos will be 5 – 15 minutes long (depending on subject matter), and will be a fast and effective way of sharing information about each career path whilst keeping viewers engaged.

By working together, we can all help students become better informed of their options and help guide them towards making the best decision for them.

These videos will be available on the CML TV website, as well as the websites of the Ministry and the CISHRP. For further information, please contact me at a.lecornu@cmlor.com .

What Do Recruitment Consultant Do?

Wed, 09 Nov 2011 12:00:04 GMT

I was going to write a fantastic blog about exactly what us recruiters do… people are forever asking us to ‘get them a job’, and in reality I guess it makes sense as this is what we appear to do! However, as recruitment consultants we don’t actually give people jobs, we help match people to vacancies that we are given (well sometimes ‘gently persuaded to be given’) by our clients.

Anyway… I came across an article online that explains the process so I guess my fantastic words of wisdom will have to wait for another day!

http://www.recruitingblogs.com/profiles/blogs/no-i-don-t-get-people-jobs-i-m-a-recruiter

This Week’s Top Relocation Tips

Wed, 09 Nov 2011 11:56:32 GMT

Changing jobs can be stressful enough, add relocating to another country in to the mix and even the simplest of things can become a big deal. Here at CML we will endeavor to reduce some of the stresses associated with relocating by offering practical advice and assisting you before you move to the Cayman Islands and once you are here.

Part of my role at CML is in Relocation Services and I plan on writing each week on the subject of relocating to Grand Cayman and offering tips and hints on making your move here easier. As I come across relocation questions and situations I will share any advice with you because as I mentioned before, even the seemingly smallest of things can be overlooked.

So to kick things off here are my Top 3 Relocation Tips of The Week!

If you are travelling to Grand Cayman via the USA please ensure your complete a US Visa Waiver via ESTA (The Electronic System for Travel Authorization). Here is a link to the website which explains what you need to do. https://esta.cbp.dhs.gov/esta/ It is very straightforward and is something your airline should ensure you do when booking your flights to here via the US. However if you book your flights independently, for example online, this may get forgotten.
If you have a connecting flight during your journey to Grand Cayman, especially one with little time in between, be prepared that some of your luggage may not make it onto the same flight as you. This can happen, particularly if you change airlines. Fear not, as your luggage should arrive on the next flight, however packing a change of clothes and your essentials in to your hand luggage will mean you won’t have to turn up for your first day’s work in the same clothes you travelled in!
Remember your travel adapter! I recently relocated someone here who had forgotten to pack an adapter and was unable to charge his UK laptop whilst stopping overnight in New York before arriving in Cayman. Cayman runs on the same electricity system as the US and Canada – 110/115v, but uses a 3-pin plug. However, the US 2-pin plug does work in here too. Also remember if your appliances run on 220v and they do not have dual capability, they will not work in Cayman, hairdryers being a good example of this. Some small electronic items such as laptops, digital cameras & mobile phones, can be run and charged using a travel adapter.

Relocating you smoothly and happily to the Cayman Islands is our priority so more relocation tips and facts soon……

Attractive resumes… do they make a difference?

Wed, 09 Nov 2011 11:52:44 GMT

A recent article from Business Insider featuring some creative resumes – some of which are really quite cool, you really should take a few minutes to look at them – got me thinking about how a “good-looking” resume can make it to the top of the pile.

One of the resumes featured looked like a Google Search page , and this one really caught my eye for a few reasons. (Funnily enough, the author, Eric Gandhi, landed an interview at Google!)

1. It looks like a Google Search Page – one of the most recognizable formats for information to be provided in. A a simple layout (or as in the case above, also a familiar layout) makes it easier for the reader to understand. At CML, we showcase all of our candidates’ resumes in a simple and consistent layout for our clients, so that the talent stands out, not the formatting.

2. It’s clear and concise. And this should describe every resume ever written – but it doesn’t. Hiring managers are generally extremely busy, so a clear and concise resume is preferable. Eric’s contact details, employment history, skills and education are clearly laid out.

And another point I garnered from Eric…

3. Eric got himself an interview because he showed Google he understood their company. Potential employers like people who know and understand their brand, you’re one step away from being a brand ambassador for their company (i.e. you’ll say nice things about them). Now, I’m not saying go and steal their Letterhead for your resume paper, but study their website and notice if they are appearing in the local press at all, and mention something that stood out to you in your interview.

So, a few tips for making your resume more attractive

use a simple font
use bullet points
and certainly use Bold for headings.

Stay away from

too much fluff
too many colours (black and white really does work best)
and make sure it’s not too long!

If you have any questions, feel free to ask us!

How’s the market?

Tue, 08 Nov 2011 12:02:50 GMT

As VP of CML every time I am out at a sporting or social event or even meeting clients I am always asked the same question, “How’s the market?” This is a massive question that will change depending on who I am talking to. For example Fund Administration is quiet at present but the demand for insolvency and Audit seniors is off the charts!

I therefore tend to take a more broad approach. I feel that the Cayman market is at a cross roads. Typically offshore jurisdictions do well when Europe and the US are in decline, I am not going to go in to an economics lecture but trust me on this. Bermuda, one of our fellow and closest offshore markets, is suffering, companies are continuing to leave and there is a talent drain occurring. The main reasons cited by companies is the bureaucracy and cost of doing business, and yesterday (7th November) the Bermuda Sun ran a story about the latest stimulus package. Considering it quoted such stimulants as Gaming and Islamic Finance ( http://cnsbusiness.com/content/bermuda%E2%80%99s-stimulus-package-unveiled ) whilst only giving a cursory glance about “rolling out the red carpet rather than red tape” worries me that they are not taking their talent drain seriously. Cayman on the other hand seems to be taking this seriously and has more flexibility to offer such as :

We are income tax free (as opposed to Bermuda 14-15%)
We have investment in infrastructure (Just look at Camana Bay, Cricket Square, Cayman Enterprise and the proposed new hospital etc…)
The Government is prepared to attract new business to the island, and believe me when I say there are some clever people in the private as well as the public sector doing some very good work at making this happen.

So these are just a few examples of positives the Cayman market has going for it. Sitting on the front line allows us to see who is coming and going and there are more coming than going at present suggesting a positive turn. It may not seem like it but our market is adapting and changing to the latest demands. If we can continue to address our own bureaucracy then we still have an opportunity to bring back those roles that have started to move away. We can learn a lot from markets such as Dubai and Bermuda.

So, “how’s the market?” Well CML is busy, which means we are hiring – we placed nearly 50 Caymanians in the last 10 months (that’s 5 a month or one a week!) along with a similar number of ex-pats, we continue to adapt to the ever-changing job specs whilst keeping up to date with changing benefits and global demand for talent. We spend a lot of time attracting talent from other offshore jurisdictions to aid the human capital talent available on island!

So in stock market terms we are “bullish” on Cayman and seeing signs of solid positivity!

As per my previous email

Fri, 04 Nov 2011 12:05:30 GMT

I regularly receive email responses, asking me questions to which the answers were clearly (or so I thought) evident in my original email.

I am conscious that email as a communication method isn’t always used to its best effect. It is often much quicker to pick up the phone and speak to someone. Perhaps we prefer to email because it puts the ball in someone else’s court? Or because it is much easier to deliver a difficult message without actually speaking to anyone?

However, the nature of my job means that I send emails to A LOT of people, with updates about training events, social events, and membership renewals. Consequently, I try to be clear and concise, reading and re-reading what I have written several times. I’ve actually started including the essential information twice, in bold red font, Calibri size 24. Of course, everyone’s style is different and perhaps mine just isn’t effective.

I don’t mean to rant, and surely I’m not the only one who this happens to… but it does make me wonder how much work we are all making for each other, and how much more efficient we could be. Experts also agree that your email behaviour has the potential to sabotage your reputation both personally and professionally. Here are some tips for perfecting your email etiquette:

http://www.inc.com/guides/2010/06/email-etiquette.html

So, to make my day: please please read and digest information before responding to an email to ask a question that has already been answered twice!

Working with Germs

Fri, 28 Oct 2011 12:20:23 GMT

I attended the Cayman Islands Chamber of Commerce Business Expo last week and visited the Health Services Authority (HSA), one of the many fantastic stalls exhibiting that during the event. The HSA were giving some great advice on staying healthy and also offering free flu jabs. Being the big scaredy cat I am, when the nurse approached me on Thursday I made up an excuse and ran back to the safety of the CML stand as quickly as I could…….

As it turns out it wasn’t one of the best decisions I have ever made………. I have just returned to work following 7 days in bed with the flu!

With the pressures of working in today’s market many workers tend not to take sick leave and go to work feeling unwell just to keep the work going. Working in recruitment it can be tough to be out of the office and I had to make the decision to work from home to make sure that I didn’t make the whole office sick just because I wanted to keep going.

For those of you reading this from your office with someone sneezing and coughing next to you. I have found some cheap and easy ways to keep the germs at bay!

Airing the Room

Bacteria are transmitted from one person to another through the air, so drafts may drive them outdoors. In Cayman we are usually sat in air conditioned rooms with all the windows and doors closed all day. When there are germs in the office it is useful to ventilate the room you are working in every hour for 5 minutes. If you don’t, the number of viruses in the air will be increasing, therefore, putting you at higher risk of catching cold.

Keep Your Workplace Clean

Usually viruses reach us in few “leaps” like dust particles. On their way, they will accumulate on the things around you, on your table for example. So clean it with wet cloth – at least once a day. This is a simple way to reduce the number of viruses around you.

Hand Sanitizer

Buy yourself a bottle of hand sanitizer to keep the germs off your hands and work equipment and buy your sick colleague one too!

Chew Ginger

Chew the roots of a sweet flag and ginger. They are rich in essential oils with antibacterial properties. Break a bit off the root, put it in your mouth and chew until tasteless.

Chewing releases antiseptic fumes from the roots. However, pregnant and breastfeeding women, those suffering from the common cold accompanied by fever as well as those with high stomach acidity and inflammatory bowel diseases should avoid these natural antiseptics.

Drink Vitamin Cocktails

Unfortunately not the Cayman Mudslide type! Drink vitamin tea instead of office coffee. To make one, grind berries rich in vitamin C, add sugar, pour in boiling water and let stand overnight (the method ensures berries “give” all their vitamins).

You can use cranberry, raspberry, black currant, rose hips or honeysuckle berries.

Keep a Pot of Geranium on Your Table

The leaves of the plant emit volatile phytoncides that exterminate bacteria in the air. Besides geranium, two other houseplants are also rich in phytoncides – begonia and chlorophytum.

If you feel like sneezing, pick a leaf off the plant, then rub it between your fingers – to release more phytoncides –and inhale a pleasant odor for a minute.

Buy Air Ionizer

Ionizing is good way to purify air from dust particles and bacteria. Most ionizers come with two modes: ionizing for daytime when you work and ozoning for the night.

Ionized air is absolutely safe while ozone – though it neutralizes bacteria better than ions – may cause headaches if you inhale it more than half an hour.

Try Citrus Salad

Take 3 peeled oranges, 2 tangerines and 1 grapefruit, cut them into small pieces, squeeze half of a lemon into a salad bowl and sprinkle with coriander.

Mix everything well and let stand for 20 minutes. Eat this salad for the dessert 2-3 times a week. This is a wonderful dish full of plant proteins, flavonoids and vitamin C which strengthen the immune system.

Eat Brazil Nuts

Brazilian nuts are the richest source of selenium (1530 mg per 100 g). Selenium is known as a powerful immune system stimulator and antioxidant. If you lack this element, relatively harmless flu virus starts modifying rapidly inside your body. It leads to various flu complications. A few Brazil nuts can help to prevent the flu and its possible serious complications.

Baking for Breast Cancer Awareness!

Fri, 28 Oct 2011 12:11:19 GMT

A year ago, I couldn’t cook anything. I would come into the office with stories of failed attempts at cooking romantic dinners, birthday dinners and normal dinners. My first attempt at baking was similar – I decided I would bake some brownies. Apart from ending up with batter in my hair and on my face (and some in my tummy!!), I was quite proud of myself – until I opened the oven and saw that my brownies had turned into a large rectangle of burnt crusty chocolate which had been baked permanently onto the baking tray. Over the last few months, I have tried to build my crappy skills for various CML bake sales and am proud to say that I think I am finally getting the hang of it (if you don’t count my overcooked chocolate chip cookies and undercooked chocolate cupcakes from the last bake sale).

October is Breast Cancer Awareness Month, and as a result, we decided to host a bake sale to raise funds for this great cause. To learn more about Breast Cancer, you can read one of my previous blogs HERE .

If you walked into our office right now, you would be met with the sight (and smell) of chocolate/vanilla cupcakes, chocolate and liquorice spiders, gingerbread men – and more!

The entire office was asked to donate a short amount of their time to bake some goodies for the bake sale. Several reminders were sent out to all staff, as well as a notification that there would be awards for ‘Most Creative’, ‘Best Dressed’, ‘Laziest Chef’. So naturally, being the competitive lot that we are, we all made an effort to do something special with our baked goods. Well. Almost all of us. Some people didn’t bake at all.

It is great to see the effort that people put into the bake sale. We have gingerbread men, women and children, breast cancer ribbon shaped cookies, and cupcakes with all sorts of icing… who knew how creative we could all be? Well. Almost all of us. Those who didn’t bake were not creative at all…

We had the following contributions to our bake sale:

Victoria : Gingerbread Family (Mums, Dads, kiddies!), and cupcakes with Raspberry icing.
Kym and Chris Bailey : Halloween themed chocolate spiders with liquorice legs.
Jamie Ware : Vanilla Rainbow bit cake
Catherine : Sugar cookies in the shape of pink ribbons
Tiff and Chris Turrell : Sponge cake with chocolate icing, and the words ‘Feel UR Boobs’ on it
Me : Chocolate and Vanilla cupcakes with white icing and pink breast cancer ribbons
Steve : Pumpkin cupcakes
Jamie Carter : Brownies
Chris Fenn : Cupcakes with pink icing

You may realize there are a couple of names missing from that list… Sinead (Who is travelling), Louise (Who has been ill all week, so she is also forgiven), and Simon. Who has no excuse. Therefore, I am pleased to announce that he is the winner (or overall loser) of the Laziest Chef. Although he did make a generous donation, so I won’t give him too much crap ��

I am so excited to announce that I won the best dressed and most creative awards for my little cupcakes, proving that I have indeed improved my baking skills. Well, I would be excited to announce that, but I actually didn’t win any of the categories.

The CML team has made it our mission to contribute to the cause so we can spread Breast Cancer awareness annually. We are looking forward to seeing what our members have up their sleeves for next year’s BCA bake sale!

Wet weather activities

Wed, 26 Oct 2011 05:28:15 GMT

I currently have my parents visiting from the UK, and this has unfortunately coincided with the worst week of weather I have experienced since moving to Cayman.
So I have been wracking my brain trying to think of things for my parents to do during their stay that doesn’t involve lounging on the beach! At first thought there aren’t too many things to do in wet weather here in Grand Cayman, however I have now come up with quite an extensive list which I thought I would share with everyone:

• Tortuga Rum Factory
• Car Museum
• Fort George
• National Art Gallery
• Pedro St James
• Hell Post Office – get your postcard stamped in Hell
• The Pirate Caves in Bodden Town
• Caybrew Brewery Tour
• Cinema in Camana Bay
• Bowling

Then of course there is the obvious answer of taking advantage of the many excellent restaurants and bars available in Cayman!! If anyone can think of anything else that I can pass on for the rellies to do, please leave me a message!

Are you a micromanager?

Tue, 25 Oct 2011 05:34:19 GMT

Having been the subject of micro-management in the past, the last thing I would want to be classified as in a management role would be a ‘Micro-Manager’.

According to Wikipedia, “…micromanagement is a management style where a manager closely observes or controls the work of her or his subordinates or employees”.

The result of micromanagement is often tension between manager and sub-ordinate, lack of trust, and in severe cases, resentment towards said manager, preventing sub-ordinates to produce their best or most creative work.

When looking towards the causes of micromanagement, I must again turn to Wikipedia, “The most frequent motivations for micromanagement… are internal and related to the personality of the manager. Since manager-employee relationships include a difference in power and often in age, workplace psychologists have used models based on transference theory to draw analogies between micromanagement relationships and dysfunctional parent-child relationships, e.g., that both often feature the frequent imposition of double binds and/or a tendency by the authority figure to exhibit hyper-criticality”.

The article goes on to say… “In many cases of micromanagement, managers select and implement processes and procedures not for business reasons but rather to enable themselves to feel useful and valuable and/or create the appearance of being so”

Harsh words, but in my personal experience this is a pretty fair assessment.

So, are you a micromanager? Are you honest enough with yourself to self-diagnose? If so, you may be interested in the below article, which I found very interesting and felt had some good commentary and advice.

http://www.bnet.com/blog/leadership/get-involved-without-being-a-micromanager-3-tips/579?tag=content;drawer-container

So You Think You Can… Blog

Fri, 21 Oct 2011 05:42:15 GMT

My posts have centered around social networking sites like LinkedIn, Facebook, Twitter and Google+, but blogs are a fantastic way to make yourself known as well. In addition to this blog, I have a personal blog that I update about once a week. Trust me, you don’t have to be an expert to have a blog – and that’s the beauty of blogging! Here are some frequently asked questions:

What is a blog, anyway?

Well, you’re reading one! It can be an online journal, a portfolio, or a place to share and discuss ideas with like-minded people. Professionally it can be a place to make yourself known as a thought leader or to build your personal brand. At the CML Blog, although we all have different specialties, as a whole our blog offers a first-person view of living and working in Cayman.

I don’t know what to write about. Who would want to hear what I have to say?

Professionally, I’m sure you have opinions about what’s going on in your industry. Writing a blog gives you a place to discuss current events or changes and share your thoughts. It can be a great way to start discussions with like-minded peers. It can even be a way to engage with others around topics you wouldn’t normally get to discuss at work, like a side project or an interest. I know a corporate trainer who will soon be starting a tech blog just because he’s interested in tech, and while it’s not his current area of professional specialization, one day he might want to move into that field. I also have a friend who is looking to make a career move and is about to launch her own blog to establish herself as a thought leader in her field.

So can I just… say what I want?

You’ll want to keep it professional, of course. Write about what you know. Before you post, ask yourself whether your comments really represent you. In a small community like Cayman, you’ve also got to consider whether your comments could have negative implications for your employer. If in doubt, then either don’t publish them, or use a pseudonym. Know that not everyone will agree with you, and you might get some seemingly “negative” comments sometimes – take these as a gift and use them to create a constructive debate.

How do I get started?

If you’re not quite ready to start your own blog, get involved in online forums to test the waters. Participating in conversations can help you to create your own writing style, and decide what kinds of topics you want to write about. LinkedIn is a great place to find open groups where you can jump into conversations about areas that interest you. If you’re ready to go solo and start your own blog, WordPress and Blogger are free hosting sites where you can get started.

How often should I blog?

This will depend on how much time you have to devote to your blog, but you should aim to add a few new posts every week. They don’t always have to be long, either – a few quick lines can be effective. This will keep people coming back for more. And remember, it takes time to gain followers, so be patient… if nothing else, you’ll have a great portfolio of writing at the end of the day!

Next Generation Smartphones

Wed, 19 Oct 2011 05:48:51 GMT

This week has seen major revolutionary releases amongst the Smartphone community across the various manufacturers and vendors; notably Google / Samsung, Blackberry / RIM, Motorola / Droid and iPhone.

Each are claiming their software, hardware and finished product to be at the cutting edge of technology. Blackberry and RIM have some work to do with their new innovation, in order to appease past generations of Blackberry user that were unwittingly cut off with their infrastructural mishap of last week. Subsequently Blackberry have announced the launch of BBX; the next generation mobile platform, built on a HTML5 development – http://devblog.blackberry.com/2011/10/blackberry-bbx/?CPID=TWDDevCon&Date=101811-3 .

Apple have released the iPhone4S as well as identified a launch date for iPhone5. http://www.techradar.com/news/phone-and-communications/mobile-phones/iphone-5-rumours-what-you-need-to-know-721534 The most advanced iPhone as yet released, this has once again strengthened Apple’s hold on the market.

Motorola / Droid have released the thinnest Smartphone ever – just 7.1mm thick in fact. Made of Gorilla glass, with a stainless steel core and carbon fibre structure they have assured prospective users that it will withstand all shocks, drops and bangs. http://www.intomobile.com/2011/10/18/motorola-droid-razr-worlds-thinnest-smartphone-hands/?utm_source=dlvr.it&utm_medium=dlvrtwitter&utm_campaign=dlvr

Finally, Google have announced the launch of their ‘Ice Cream sandwich’. Yes, really it is a Smartphone…their next generation Android OS no less. The ‘ice cream’ aspect is the launch of a truly innovative technology known as ‘Android Beam’ – a variation of Near Fields Communication technology. The Android Beam, essentially means that if you collide (gently of course) two phones together, information is automatically transfered from one to the other. No need for time consuming data links, uploads or transfers, just a quick snap and job done… http://www.wired.com/gadgetlab/2011/10/android-ice-cream-sandwich-3/

Whilst the iPhone continues to be the leading brand name in Smartphone technology, it really is an exciting market with so much ongoing growth, demand and innovation, it’s impossible to predict what will possible.

Team building – How to bring your team closer together…

Fri, 14 Oct 2011 05:51:40 GMT

There are many different ways to facilitate team bonding, and I believe it is always good to be as creative as possible when considered how to bring a team of people closer together.

I wanted to share with you a team building exercise that I tried in the past and found quite useful; I was reminded of it by my ‘old man’ who often uses it as an ice breaker when delivering Leadership and Professional Coaching workshops in his work back in the UK.

The exercise centres around asking all members of the team to create a Heraldic Shield. For those that don’t know, Heraldy is the profession, study or art of creating, granting, and blazoning arms, and many years ago all families would have had a shield like this that acted as a coat of arms for the family; see below for my own families version.

Cayman Immigration issues guidance on new permits

Wed, 12 Oct 2011 05:59:53 GMT

Cayman Immigration tonight issued the following guidance for those bumping up against the seven year term limit.

TERM LIMIT EXEMPTION PERMITS

Forthcoming changes to our immigration legislation have important consequences for persons (and their employers) who have reached the expiry of their term limit recently, or who will reach it within the next two years. From the date [not yet known] on which the Immigration (Amendment)(No.3) Law, 2011 is published in the Gazette (“the publication date”) it will be possible for an employer, or prospective employer, of a person –

(a) whose final work permit expired within the thirty days prior to the publication date; or

(b) whose final work permit expires after the publication date; or

(c) who was working by operation of law on the publication date by virtue of having applied for key employee designation and the application is subsequently refused

to apply for a Term Limit Exemption Permit which, if granted, will allow themto remain employed in the Islands, either for their last employer or for a new employer, for another two years after the publication date even though their term limit has expired.

FREQUENTLY ASKED QUESTIONS

How do I know if I am entitled to a Term Limit Exemption Permit?

If you fall within (a), (b) or (c) above you are entitled to a Term Limit Exemption Permit.

If I am working on a Term Limit Exemption Permit may I apply for permanent residence?

No. Holders of a Term Limit Exemption Permit are expressly prohibited from applying for permanent residence.

How do I apply for a Term Limit Exemption Permit?

The employer, or prospective employer, of a person who falls within (a), (b) or (c) above may apply for a Term Limit Exemption Permit using the new form [insert link to form] that is available and by providing all the usual documentation that is required when applying for a work permit. For the work permit checklist, click here.

How long is a Term Limit Exemption Permit valid for?

A permit will be issued for one year initially. It can be renewed up until the date that is two years after the publication date.

How much does a Term Limit Exemption Permit cost?

The application fee is CI$100 and the issue fee (both fees payable at the time of application) is the same as the amount that would be paid for a work permit in the same occupation.

If the application is refused, is there a right of appeal?

Yes. You will have the right of appeal to the Immigration Appeals Tribunal.

Will the worker be allowed to work while awaiting the outcome of the appeal?

Yes, if the application for the Term Limit Exemption Permit was submitted prior to the expiration of the worker’s final work permit. If that condition is met, they can work up until the outcome of the appeal but no later than the date that is two years after the publication date.

What will be taken into account when considering an application for a Term Limit Exemption Permit?

All the requirements contained in section 44 of the Immigration Law. For example, the health and character of the worker, his ability to support himself and his dependants, and the efforts that the applicant has made to identify a Caymanian for the position.

May a worker on a Term Limit Exemption Permit be accompanied by dependants?

Yes, the worker will be eligible to have his dependants provided his income is sufficient to support them.

Does a worker have to work for the same employer who held their final work permit?

No. A worker may work either for their last employer or a new employer.

Can a Term Limit Exemption Permit be varied, for example to include/remove dependants or to change a job title?

Yes.

Can a Term Limit Exemption Permit be shared between two employers?

Yes, in the same way that a work permit may be shared.

If a Term Limit is canceled or revoked before its expiry, are any fees refundable?

If the cancelation or revocation is within six months of its issue then the employer will be entitled to a refund of fifty per cent of the annual fee.

In what circumstances will a worker be able to work while awaiting a decision on a Term Limit Exemption Permit application?

A worker will be allowed to continue working in the following circumstances –

(a) where an application for the renewal of a Term Limit Exemption Permit is made prior to its expiry; or

(b) where an application for a Term Limit Exemption Permit is submitted prior to the expiry of the worker’s final work permit and is for continued employment for the same employer. Note: if the Term Limit Exemption Permit is for a different employer than the worker’s last employer then they are not allowed to work in the period between the expiry of their final work permit and the grant of the Term Limit Exemption Permit.

(c) where an application for the grant of a Term Limit Exemption Permit submitted prior to the expiry of the worker’s final work permit is refused and an appeal is lodged with the Immigration Appeals Tribunal

(d) where an application for the renewal of a Term Limit Exemption Permit is refused and an appeal is lodged with the Immigration Appeals Tribunal.

Notes:

(1) where the worker is allowed to work under any of (a) to (d) this will be on the same terms and conditions as applied to their final work permit.

(2) this right to work shall cease if the application is refused and no appeal is submitted; if the application is refused and an appeal against the refusal is dismissed, or upon reaching the date which is two years after the publication date.

What happens after the expiry of a Term Limit Exemption Permit?

Where the Term Limit Exemption Permit was granted for one year but was not renewed on a renewal application nor on appeal, or which has expired automatically upon reaching the date which is two years after the publication date the worker will be required to leave the Islands unless he is authorized to remain under any other provision of the Immigration Law. He also cannot hold another work permit until at least one year has passed after he has left the Islands.

How long may I continue to receive work permits?

Up to a maximum of two years from the date on which the changes to the Law took effect.

What happens after that two-year period ends?

The worker will be required to leave the Islands and they may not be granted a work permit for at least one year after their departure.

Does the time that the worker remains here after the expiry of their Term Limit Exemption Permit count towards the eight-year residence requirement in order to apply for permanent residence?

No.

Does the worker have to work for the same employer who held their final work permit or can they change employers?

The worker can work for any employer. If they wish to continue working for the same employer as before, then their employer will have to submit a Term Limit Exemption Permit grant form application before the expiry of the worker’s term limit.

If a different employer wishes to employ them for this two-year period then they must submit a Term Limit Exemption Permit grant form application but the worker is not allowed to continue working until the application is approved.

Your career path – it’s not always straightforward…

Tue, 11 Oct 2011 06:06:25 GMT

Today’s Harvard Business Review Tip of the Day comes from their book Harvard Business Review on Advancing Your Career and says that “Most successful careers involve a mix of lateral and upward movement.”

In offshore recruitment especially, we see a lot of both lateral and upward movement for our candidates. For some candidates, working in the Cayman Islands (or Bermuda or BVI) is all the change they need in their careers! But as the tip suggests, moving laterally into other areas in your field, broadens your experience and keeps your options open when seeking a route to the top. By becoming too specialised, you can reach a ceiling faster than you had imagined.

Our consultants are offshore recruitment specialists, who can help you if you are struggling with your career path (or if you are looking for a change in your environment!). We can provide you with career advice in offshore accounting jobs, offshore legal jobs, offshore IT jobs and offshore admin jobs.

So long! Farewell!

Fri, 07 Oct 2011 06:08:49 GMT

My time as CISPA Liaison Officer is officially over. During the last (almost) two years, I have been fortunate enough to have worked with the Cayman Islands Society of Professional Accountants (CISPA) as their Liaison Officer. During this time, I have had the opportunity to work with a number of different people who have all had a huge impact on my life. I have learnt so much by working with them and I am grateful to them all for helping me along the way – not only teaching me about different things happening in the industry, but also helping me learn more about myself and my capabilities.

I remember when I started working in this position I felt really unsure about working with such important people. I learnt really quickly that they weren’t as scary as I thought they would be. They were all so lovely and supportive of me and I feel so lucky to have worked with them.

One of the projects that I enjoyed most in that role was organizing the annual gala event, which recognizes local accountants that have attained either their Bachelor’s Degree in accounting, or Professional Accounting Designation. Each year the event gets larger, with more and more graduates and newly qualified accountants being recognized for their efforts and dedication.

In 2011, CISPA hosted their fourth annual gala on Saturday October 1st. We had thirteen graduates who received awards for completing their Bachelor’s degree in Accounting, and a further twelve individuals who have successfully attained their Professional Designations.

The feedback we have received so far has been really positive, and it has made all the hard work, late nights, and stressful want-to-tear-my-hair-out days seem not so bad.

Whilst organizing the event, I had the help of two lovely CMLers, Victoria Griffin and Kym Bailey. Not only did they help with the last minute running around and items on my to-do list, but they also helped me out on the night as well whilst I raced around like a headless chicken. They laughed at me when I was stressed, made me laugh when I wanted to cry, and helped me remember that things weren’t as bad as I was making them out to be. Thank you for everything ladies!!

CML TV were of course there to film all the action, so look out for the video!

(I’ll put a photo here when I remember to bring my camera/memory card!!)

Breast Cancer Awareness Month

Tue, 04 Oct 2011 06:13:11 GMT

As most of you would be aware, October is Breast Cancer Awareness Month. Some of you may have seen this on last night’s NFL Monday Night Football where one of the teams were wearing pink fluffy things over their shoes. Others may have noticed that local shops are supporting breast cancer charities by selling pink things (ribbons, enviro bags etc.)

Now, it may be seen as a bit ‘girly’ to wear pink or buy pink things (man up!). A lot of people are under the impression that breast cancer is only found in women. Breast cancer is after all, the second most common form of cancer in women – but men are also susceptible to developing the disease (the lifetime risk for males however, is only about 1 in 1000 according to the National Cancer Institute).

Often, routine breast checks are not done. It is so important for both men and women to make sure they check frequently so that any abnormalities can be detected early.

Not knowing much about the disease myself, I thought it would be wise to read up on it so that I understood a little bit more about what causes breast cancer, what to do if you have any concerns, and also how it is treated.

I found the following websites quite useful:

National Breast Cancer Awareness Month
Ame r ican Cancer Society
National Cancer Institute
PubMed Health
Centers for Disease Control and Prevention

There was so much that I found on those websites that I hadn’t been aware of before. It is so important to raise awareness (and funds!) for breast cancer, and I am suggesting to our office that not only do this month’s fund raising efforts go towards breast cancer treatment/prevention, but also that everyone should wear something pink on dress down Friday’s in October – which probably won’t be too hard in our office because most of the guys wear pink by choice.

Different ways you can help raise funds/awareness for breast cancer:

Host a 15 minute trivia game one lunch time;
Bake Sale!
If your office doesn’t have a dress down day every week, maybe you could speak to your boss about having people donate money to dress down (in pink!)

Let us know how you raised money and awareness for this great cause!!

And don’t forget…

The CML Family

Fri, 30 Sep 2011 06:16:34 GMT

My time has come to say farewell to my beloved CML and move onto a new career path (thanks to them as well). It has been quite an adventure and learning experience.

I have had the pleasure to meet many wonderful people and seen some go. CML has helped me become a very motivated and confident person just by the environment, the openness and the friendly faces every day.

Qualities that set my colleagues/bosses apart from anyone I have met:

Abbey: Cool and bubbly personality who wins over our Clients with her CML TV

Anj: Nice personality who knows her social media

Antoinette: Amazing personality with a smile all the time

Cat: Technology savvy (great marketing mgr) and lovely personality

Chris B: Very approachable attitude making him a great VP

Chris F: Smart and amiable

Chris T: Witty personality (always with his comical remarks)

Jamie C: Hardworking (Never a dull moment listening to you and Chris T joke at each other)

Jamie W: Sociable personality that won CML and our Clients of CMLTV

Kym: Pleasant and posh personality

Louise: Lovable and was always there to help me from in the beginning since I started alongside her… Team TASS Leader …

Petula: Fun loving and loves to tell stories (weird and adventurous ones at that)

Simon: Serious at first but he’s actually a very friendly person

Sinead: Humorous personality and very knowledgeable in her area (going to miss her random songs and talks)

Steve: Great Boss! Open door policy personality and very clever

Tiffany: Cheerful and helpful at all times (Lou’s part time PA) Team TASS always! ��

Victoria: Humble yet friendly from the beginning

(There’s more to say but it would make a longer blog and give me cramped fingers.)

Last but not least, Thanks everyone for everything you have done and for making me feel welcomed from in the beginning.

Lots of Love to my CML Family,

Vilma

P.S. To those of you not in the pic, you were still in mind. ��

"The CML Family"

Relocating to the Cayman Islands: Top 10 Tips From a CML Recruit

Fri, 09 Sep 2011 06:27:44 GMT

When I was presented with a job offer to become a member of the CML Offshore Recruitment team, I set about the task of planning whether relocating to the Cayman Islands was the best move for me. To many, deciding to relocate and following through with the plan can be daunting. In this blog, I would like to share my relocation experience with you.

The Decision to Make the Move

I was living in London and was very settled at the time, having lived there for eight happy years. I was also recently engaged, so it was important to consider my significant other.

Once I began confiding in my close friends, to my surprise, I discovered I was not short of people to talk to who had either visited Grand Cayman or, indeed, had lived and worked over there. I also had ongoing help and support from my potential new work colleagues, who patiently answered every question I asked (and there were plenty!).

My first concern was money-related as I wanted to ensure I could a). Afford to make a move and be financially stable, and b). I had a good idea of the cost of living versus London, and c). I had a good grasp of what life was like on the island, especially given that I had not previously visited the Cayman Islands.

I was recommended to create a monthly budget, research the cost of living, and also work out how much it would initially cost to begin the process. After being told my salary, I quickly gained confidence that I could afford the living costs in Grand Cayman. It also helped that I had been saving beforehand.

Significantly, the more positive experiences I heard, the more excited I became about accepting the job offer.

Life After Relocating

Since my relocation, I have discovered some of the advice I received was inaccurate. One of my favourite faux of advice was from a previous work colleague who had visited the Cayman Islands in the past. As someone who loves to eat out, I was told the Cayman Islands had poor-quality restaurants. I have to say this could not be further from the truth!

So far, I have visited Morgan’s Harbor, Kaibo Beach Bar & Grill, Yoshi Sushi, and also Eatz Cafe over the past week (not to mention the Triple Crown Burger at The Triple Crown Pub, which was immense!), I can assure you there is an outstanding array of great quality restaurants to visit. Grand Cayman has a booming restaurant industry.

Once we arrived in Cayman, we needed a number of things to organize. The most important things to organize were: finding an apartment, buying electronics, collecting mobile plans, sorting out a gym, and searching for a 2nd hand car.

Top 10 Tips for Relocating to the Cayman Islands

Read CML’s guide to living & working in Cayman as an introduction to life on the island.
Read CML’s Cayman Cost of Living guide to have a better idea of spend
Create a budget
Only travel with your essentials (aka lots of swimsuits!)
Pay for excess baggage in advance so you don’t exceed your spending allowance.
Get Whatsapp to speak to family and friends back home
Shop for a suitable apartment
Visit the Cayman Islands DVL to obtain a valid driver’s license as soon as possible.
Join a club or NPO to help you create a social network
Buy mosquito spray! You’re going to live on a tropical island!
Just do it. It’ll be the best decision you ever make.

Other Useful Websites to Help You Move!

CML Offshore Recruitment has helped many to relocate to the Cayman Islands. We would be happy to share our experiences and advice with you. Contact us at info@cml.ky to book a consultation and learn more about the relocation process.

Are resumes redundant?

Fri, 09 Sep 2011 06:19:19 GMT

The latest innovation from professional networking website LinkedIn is a button that allows you to attach your LinkedIn profile instead of a resume/CV. So what, I said at first. And I had a point (I often do).

In the interests of full disclosure (own trumpet blowing alert) CML has just become one of the first recruitment agencies in the world to incorporate the button on their live job listings . Normally something of a social media skeptic, whilst I can’t claim to have been up to my elbows in unwieldy website code, what I learned in the process of overseeing the project led me to believe this one might finally change the game in LinkedIn’s favour.

Here’s a very quick rundown on how the button works. Each job listing has an “Apply with LinkedIn” button as well as the usual buttons for applying and saving the job. Pressing it opens a dialogue confirming that your LinkedIn profile is going to be sent as an application for the job (i.e. in place of a CV) with a space to provide a short cover letter. After confirming/sending an application, the user is prompted to connect with someone at the agency or employer with a view to getting a personal referral.

There are two main benefits of this for candidates. First, they don’t need to have a CV handy in order to apply. Second, a LinkedIn profile has the potential to provide much richer information than a common-or-garden resume, including picture, validated recommendations, links to blogs, articles and other social media such as Twitter. (If yours does not meet its full potential then you might want to contact our Social Media Consultant Anjuli!).

The third benefit is more for the agency or employer than the candidate. Whereas a CV will remain in whatever form it was originally provided, a LinkedIn profile is a dynamic, living record including (hopefully) up-to-date employment history, achievements, contact details, picture, latest earth-shattering tweets and so on.

Thus have the lines between a LinkedIn profile and a CV become blurred. LinkedIn is for all intents and purposes your online CV, version 2.0.

99,117 hours is a long time to be unhappy…

Tue, 06 Sep 2011 06:33:20 GMT

Working in recruitment we speak to people on a daily basis who are unhappy at work, prompting them to look elsewhere. The average person will spend 30% of their life at work, this is 99,117 hours…this is A LOT of time to be miserable!

However, often there are small steps you can make yourself to improve your working environment; here are some things you might want to consider:

• COMMUNICATE: Speak with your line manager – often they might be surprised to hear you are unhappy and offer ways to help and sometimes just getting things off your chest will make you feel better.

• MOTIVATIONS: Consider what motivates you and what changes you can make to make your job more enjoyable.

• COLLEAGUES: Try to get on with your colleagues as relationships at work can be the key to your working happiness and make the office environment that more enjoyable.

• MONEY: Often people assume that the key to their happiness would be more money, obviously this helps but it is not always the answer… it is important to ensure that you are paid to the appropriate level and to be ambitious, but money isn’t the key to happiness.

• CAREER GOALS: It’s always good to have a clear plan of your career goals so that you know what steps you need to take in order to achieve these goals.

• SPEAK UP: If there is a project at work that interests you or you feel would help with your career goals then speak up and volunteer to get involved, what’s the worst that could happen?

If you have gone through all of the above steps and still feel that your position is not for you then seek advice with your recruitment consultant at CML, it is our job to help you make the most of your career and offer advice in any way we can!

How to beat first day nerves

Fri, 02 Sep 2011 06:39:46 GMT

Following on from Sinead’s blog last week, a friend and I had a conversation regarding the importance of first impressions in the work place, she had been told that people make their first impression of another person in the first 7 seconds of meeting someone. Now this seems like a very short amount of time to really decide how you feel about someone and make any important decisions, but it got me thinking that this could have some serious implications, especially with any important moments such as starting a new job! I don’t know about you, but when I’m nervous I don’t feel like I act 100% myself anyway so it’s a scary thought that people can make up a false impression of you right away. A first day at work is pretty nerve-wracking and so having to constantly think about what other people think of you is the last thing that should be on your mind.

For this reason, I’ve been scouring the web for any tips on how to make a good first impression. I came across this article which was specific to making a good impression on your first day at work! It gives some great tips on how to make that first day run smoothly…

http://www.quintcareers.com/first_days_working.html

Good luck!!

10 Worst Things to put in a Cover Letter

Wed, 31 Aug 2011 06:47:13 GMT

I found an interesting article noted below by Sindhu Sundar for the Wall Street Journal. As a recruiter I see first hand the same mistakes on covering and introuction letters over and over. When you are working with an agency these mistakes would never make it as far as your new potential employers however any direct applications you make could be falling flat before they have even begun.

It’s never too early to make a bad impression.

A cover letter or introductory email is often the first thing a potential employer sees when reviewing a job applicant. It’s the first opportunity to impress recruiters and hiring managers and, therefore, the first opportunity to disappoint them. Everything from copy mistakes to inappropriate jokes in a cover letter could derail an application.

Here are the top ten worst things to put on a cover letter:

1. Next to Nothing

While writing something that’s too long is a common cover letter mistake, what can be even more damaging is a cover letter that’s too short.

Bruce Hurwitz, President of Hurwitz Strategic Staffing, Ltd., a New York-based staffing firm recalls a cover letter he received a few months ago for an entry-level IT sales position. It read simply, “Here’s my resume. Call me. [Phone number].”

“I cracked up,” Hurwitz says. “This person had only just graduated with a Bachelor’s degree. It was ridiculous.”

A good cover letter should be somewhere between 200 to 250 words, Hurwitz says, and should answer the question of why a recruiter should look at the resume. “The key is to highlight one success,” Hurwitz says. “For example, ‘I successfully increased sales 500% over two years, resulting in increased, sustained revenue of $25 million.’ Once I read that, I look at the resume.”

2. Criticism of a Prospective Employer

Thumbtack.com, a San Francisco-based site that connects customers with small business services, asked potential employees to submit in their cover letters feedback about their website. One candidate, a contender for an entry-level position in April, didn’t pull any punches.

“The engineering of your site looks lazy and ineffective,” the applicant wrote, proceeding to describe the color scheme of the site as “disconcerting to my eyes.”

Needless to say, he was not considered for the position, though not before the hiring manager got in some laughs around the water cooler at his expense.

“We forwarded the cover letter to our managers sort of as a joke,” says Sander Daniels, co-founder of the site. “It was the most caustic feedback we received. But we responded kindly to him — we didn’t suggest any improvements to him in approaching other employers. We don’t see it as our role to counsel failed candidates.”

Daniels observed that while many strong candidates turn in well-written cover letters, some have let the demand for engineers get to their heads, as Silicon Valley romances them with six-figure salaries and other job perks.

“Maybe they think they can get away with it — but in our company, culture is a very important factor.” Daniels says. “Even if Facebook’s best engineer came to us, we wouldn’t hire him if he was a jerk.”

3. Personal Stories

While employers are sometimes interested in personal stories, especially if they give some idea about work ethic, it’s best to save these stories for the interview, says Lindsay Olson of New York-based Paradigm Staffing, who specializes in recruiting communications and marketing professionals.

“I think my favorite of all time was the salesperson who poetically told me about how he decided to run a marathon, climbed to reach glaciers to have a taste of pure water, ran at heights of 5,000 meters in Peru, and biked down the world’s most dangerous road and survived (over 300,000 have not),” says Olson, of a candidate who was applying for a business development position at a recruiting firm in June last year. “All this in his opening paragraph.”

If you are asked in an interview about your hobbies and adventures, be prepared with a strong answer, says Olson. “What a [job candidate] likes to do outside of work might show how they are in their job,” she says. “As a hiring manager, what you don’t like to hear is, ‘I just like to sit around at home and read books all day.'”

4. Awkward Language

Rachel Levy, director of marketing at Just Military Loans, a Wilmington, Del.-based personal loan service for military personnel, got a letter last week from a candidate who seemed to be expressing lukewarm interest in an IT analyst position.

“My name is xxx. I am pretty interested in the IT analyst position at Just Military Loans,” the letter began.

Levy says she sees many applications, especially for IT jobs, to have grammatical and other language flaws. “What I’ve noticed is that there are a lot of people applying to these jobs, for whom English is a second language,” Levy says. “So the connotations of certain words and phrases may not be clear to them. Which is fine, but they should get someone to help word their intentions correctly.”

In this case, Levy thinks the applicant meant “very” instead of “pretty,” but she’ll never know because that applicant didn’t get an interview.

5. Someone Else’s Words

Frank Risalvato, a recruiting officer for Inter-Regional Executive Search Inc., is deluged with cover letters from different candidates that all obviously use the same template from the same career coaches.

“Some of these [cover letters] we see are very obviously not written by the individual,” says Risalvato. “We get 15 to 20 of these a month, and it sounds disingenuous and insincere, seeing these cover letters from Seattle one week, Chicago another, and it’s all the same style.”

Some career experts also warn against the tired stand-by opening lines in a cover letter. “Opening a letter with a passive and clichéd statement such as ‘Enclosed please find my resume highlighting my experience and skills that would help your company to grow and succeed,'” is a no-no, says Ann Baehr, certified professional resume writer and president of New York-based Best Resumes. “It’s best to use something catchy and more specific such as, “If your company could benefit from the expertise of a hard-charging sales producer with a flawless record of success for closing tier-one Fortune 500 prospects in the healthcare technology market and capturing millions of dollars in revenue, please take a moment to review the attached resume.”

If you’re uncomfortable with that approach, make your cover letter unique to you with insights about the company you’re applying to, advises Darrell Gurney, Los Angeles-based founder of career coaching site Careerguy.com and author of Backdoor Job Search: Never Apply For A Job Again!.

“Put in a note saying something like, ‘I’ve been following your company’s progress in the last year and in February and I noticed your company was mentioned in the Journal of such and such,'” Gurney says. “That’s the amazing thing about the Internet. You can spend 15 minutes online and look like you’ve been following them for a year.”

Gurney reminds applicants to do their full research on the company if they do get called in for an interview after.

6. Irrelevant Experience

As noteworthy as an impressive Girl Scout cookies sales record may be, it’s not worth trumpeting that experience when trying to break into a field like software sales. Rich DeMatteo, co-founder of Philadelphia-based Social Media Marketing firm Bad Rhino, remembers a candidate who did just that when he was working as a corporate recruiter at a software company.

“I was recruiting for a software sales position and one candidate was sure she was qualified because of her success selling Girl Scout cookies when she was a young girl,” DeMatteo says. “I think she was young and didn’t realize how important it is to state the right experience. Younger applicants tend to reach for skills, and try to find them anywhere in their life.”

Some candidates take it even further, acknowledging they have no relevant skills, but pushing to be hired anyway.

“I read one for an IT analyst position that says, ‘Although my qualifications do not exactly match your needs, the close proximity to my home is a big bonus for me,'” Levy of Just Military Loans recalls. “You have a lot of underqualified people just out of college just throwing resumes at the wall, and hoping something sticks.”

DeMatteo suggests trying to focus on specifc sales figures or experience in relevant projects. “A lot of sales, for instance, is numbers-based. Stick to that.”

7. Arrogance

It’s one thing to promote yourself favorably in a cover letter, but watch that it doesn’t degenerate into overt bragging.

This is especially true when it comes to ambiguous skills, says Jennifer Fremont-Smith, CEO of Smarterer, a Boston-based tech startup aimed at helping IT applicants improve their resumes.

“People claim to have things like, ‘superior Internet skills.’ What does that even mean?” says Fremont-Smith. “I saw an application from a Web developer about a month ago where he described himself as a ‘rockstar in design tools,’ and an ‘expert in developer tools.’ That kind of inflated language doesn’t really tell your employer much about your skills.”

Fremont-Smith recommends carefully personalizing your cover letter to the employer and listing the most relevant of skills for the job you want, and why you want it. “The cover letter is the place to tell your story about why it is that you’re the right person for the company,” she says. “It’s about really crafting a narrative that answers the question of why the employer should talk to you.”

8. Wrong Company Name/Wrong Cover Letter

Talk about mistakes that are easy to avoid.

“The biggest mistake I see on a regular basis is that candidates either misspell the name of the company or get the name wrong,” says Gary Hewing of Houston-based Bert Martinez Communications LLC. “If it’s a small misspelling like ‘Burt’ instead of ‘Bert’, I’d be willing to overlook that. But the big, unforgivable mistake is when someone copies and pastes a cover letter without the name or address to the correct company. That, to me, is someone who’s lazy and not paying attention.”

Hewing says sometimes it’s hard to tell if a cover letter was meant for a particular job, even if the candidate got the company name and position right, if they talk about disconnected experience without explaining themselves.

“We’re a sales organization, but at least twice a month, we’ll get a cover letter with someone talking about their banking background instead of sales,” says Hewing. “It’s a complete disconnect to the job description and it doesn’t even explain if the candidate is seeking a career change. It tells me that they’re just not paying attention.”

9. Cultural Preferences

Job hunting is often compared to dating: It’s about finding the right match; and success hinges on staying cool under pressure and masking anxieties to appear confident instead of desperate. But a few candidates take the dating analogy too far, subjecting hiring managers to long lists of personal likes and dislikes in cover letters.

“This one guy wrote the first part of his cover letter talking about his interests like it was an ad for an online dating site,” Olson of Paradigm Staffing says, about an applicant trying for a PR job. “He likes all types of music, but ‘never got into country.'”

While potentially charming to a possible mate, those tidbits are not helpful in a cover letter.

10. Jokes

Breaking the ice with humor isn’t necessarily a bad idea, but jokes in cover letters are usually a turn-off for busy employers, say recruiters. It might be better to save them for the interview, if they are to be used at all. Olson recalled a candidate for a communications executive position who rubbed an employer the wrong way with an off-color joke.

“She decided in her interview, for some reason, to compare kids to Nazis,” says Olson. “She thought she was being funny, but the interviewer happened to be Jewish and didn’t think she was very funny.”

Recruiters agree that it’s best to stick with tried-and-true unfunny, but effective conventional pitches about your education and work experience.

“The thing with trying to be chummy and funny is that you lose credibility,” says Gurney of Careerguy.com. “It looks desperate. And the worst thing you can do in job-seeking is looking desperate or needy.”

Sindhu Sundar Wall Street Journal August 2011

The importance of a good handover!

Fri, 26 Aug 2011 06:55:10 GMT

I know this is going to seem like a bizarre thing to write a blog about, but this week I have had the task of running the Trust, Admin and Support Services desk alone (eek!)… Usually, myself and Louise work together like a well-oiled machine, with Louise at the helm.

This week Louise has been sunning herself in Florida and so was tasked with leaving me a handover so that things would run smoothly in her absence. What made this week different to a typical handover was that in the previous two weeks prior to Louise going away, I too had been sunning myself in Florida…meaning that we weren’t able to actually see each other to discuss what has been happening for our team over the past 3 weeks.

In a previous position I had been asked by a colleague to look after their work whilst they were away…and that was pretty much as far as their ‘hand over’ went. What ensued over the next week while they were away was pure chaos; I had people calling about jobs that I hadn’t been told we had, candidates calling for feedback on interviews I didn’t know had taken place and just general confusion.

In contrast this week I was left with a whole folder of notes with every detail I could possibly need and more, meaning that my first week back in the office has been smooth and hopefully when Louise returns next week there will be no surprises…well only good ones!

The moral of the story is ALWAYS make sure you are up to date with your work and that you leave a detailed handover, it will not only make the person who is covering life’s easier it will also make yours so much easier when you return so that all that’s left to do is relax and have a good holiday!

Ten Powerful Steps to Negotiating a Higher Salary “Use with Caution!”

Tue, 23 Aug 2011 07:02:02 GMT

OK in the article below by PsyBlog, there are some very well referenced arguments for using some of the techniques included within the list. However I feel that a “use with caution!” label needs adding. As with any interview you need to be subtle, you need to know your market, product and competitors. You need to make a good impression, you need to be prepared, and you need to demonstrate that you really want this job without seeming desperate for the offer.

The crucial element that I feel that is missed from the list when negotiating on salary is, you need good advice. If you are not using a recruitment consultant then call a reputable one and ask them for advice prior to the interview. Ask them about the trends in the market, what certain business pay etc…Above all ask them if your expectations are in line with what the market is paying for your role. They have the knowledge, and should you be unsuccessful you now have a plan B. The bottom line is everyone who is serious about their career and remuneration should have found a trusted recruitment advisor who is an expert in their particular market. Whether they actually place you or just offer advice in order to build their own network there is always a “quid pro quo” .

As I said use the following list with caution making jokes during any negotiation can be powerful but it can also be disastrous!! Negotiation is key that I grant the article – If you don’t ask you don’t get!

I would be keen to hear any stories or comments you have on this topic!

http://www.spring.org.uk/2011/08/ten-powerful-steps-to-negotiating-a-higher-salary.php

Follow the Leader…

Fri, 19 Aug 2011 07:05:04 GMT

When Twitter first arrived on the social media scene, I thought to myself, “Who would want to know what I’m doing every 5 minutes?! There’s no way this will last.” Flash forward 5 years, and the true value of “microblogging” has become all too apparent.

Are you looking for a new job? Your potential employers will surely be looking at your past work assignments, successful projects, education, and even your community work. But they’re also looking at your online profile. Imagine how awesome it would be to tell a potential employer about all the people who value your opinion on industry issues so much that they follow you on Twitter!

Now, before you get too excited, let’s dial it back a bit. I’m not saying that you should go out there, collect hundreds of random followers, and then proceed to tell them about how great that latte was this morning, or about your epic Fail on the dancefloor last weekend, occasionally throwing in link to an interesting article. But if you’re seriously trying to use Twitter to increase your business influence, gaining a healthy number of followers can be both rewarding and tricky. As I settled in for my first week at CML as the new Social Media Consultant, one of my colleagues asked, “How do you get more followers on Twitter?” I admit I had to think about that for a minute, but after a bit of brainstorming, here’s what I think:

Tweet about interesting stuff. This one might seem kind of obvious, but it’s harder than it sounds. What’s interesting, anyway? Think about timely topics, things that people in the industry are talking about right now.
Make sure your followers know you’re excited – rather than just retweeting a link, add a few words of introduction. Twitter recently introduced a new functionality where you can tweet a picture directly in your tweet – so throw in a picture to add some interest every now and then!
Use hashtags and mentions to reach more people. Add a hashtag (#) in front of any keywords in your tweet so that people searching that keyword will find your tweet. Mention related people’s handles (e.g. @cml_anjuli) so that your tweets show up to people who may follow them (of course, only do this if you know them and they are related to what you’re tweeting about, or if you’re replying to something they posted).
Follow others. Often when you follow someone, they will follow you back. Use caution, though – only follow people when you really are interested in what they have to say! When you gain quite a few followers, companies will start to follow you too.
Put your Twitter handle everywhere. In your email signature, on your business cards, etc. Also, link your Twitter account to your blog or LinkedIn profile. Make sure people know you’re out there.
Tweet often. The more you say, the more likely people are to hear you.

The most important thing is to experiment and see what works, so go forth and tweet! If you’ve got questions about how to enhance your social media profile and become more influential, email me at a.muttoo@cmlor.com .

Why become a member of a professional organisation?

Fri, 12 Aug 2011 07:15:33 GMT

Before I moved to Cayman a few months ago, I had been working as a HR professional in the UK and was up to date on all the hot topics. Relocation to a slightly more laid back lifestyle and a new job means that I don’t need to refer to the CIPD website or read People Management Magazine quite as often as before… However, I am well aware that it is important not to let professional skills and knowledge slip away, especially after working so hard to obtain them!

I am now involved in the administration for two professional societies here in Cayman, the Cayman Islands Society of Professional Accountants (CISPA) and the Cayman Islands Society for Human Resource Professionals (CISHRP), and believe that there are several benefits to being a member of such organisations:

1. Professional recognition

Many employers will look to recruit candidates with a professional qualification. Membership of a professional institute demonstrates that you qualify and shows your commitment to your chosen profession – particularly important in a competitive labour market.

2. Improve your earning potential

Independent research reveals that individuals with professional qualifications and membership stand to gain £152,000 (CI$203,000) in additional earnings over the course of their career:

http://www.cim.co.uk/resources/managingmarketers/ccpmo.aspx

3. Keeping you up to date

Subscribe to free email alerts, magazines and newsletters to help you keep up to date with current topics and any new developments in regulation and legislation.

4. Continuing professional development

Many professional organisations offer learning and development opportunities that have been designed to help you develop the skills and knowledge you need to advance your career. As a member of a professional organisation, you’ll be offered opportunities to keep your professional knowledge up to date and to improve your capabilities.

5. Networking opportunities

Events organised by professional organisations provide an excellent opportunity to network with fellow professionals, enabling you to make contacts with whom you can consult and draw referrals, ideas, and information for your job search and career progress. Networking also advances your continuous learning, allowing you to share ideas and learn about best and next practice.

6. Receive discounts!

Many professional organisations partner with other relevant or local organisations to offer members discounted rates on a range products and services… also benefitting your purse strings!

Work-Life Balance…

Fri, 12 Aug 2011 07:11:24 GMT

So, I’ve passed probation with CML… Wow! It seems like I’ve been here for ages yet it’s only been 6 months. That’s when you know that a company has been treating you like family and like the rest. I have been included in many tasks and I have yet to do & learn more.

We have our afternoon outings (meaning after work, of course), team building days, and our occasional jokes while at work. During these times we are all trying to balance our work and life so it’s good to have a company that can promote hard work yet incorporate an occasional good time as well.

The following link I was recently reading provides 5 tips on ways to balance work and life: http://www.webmd.com/balance/guide/5-strategies-for-life-balance

Just like CML can be such a welcoming and professional company, we can help you seek that one job that can help you balance work and life! It’s time you enjoy a good laugh with fellow colleagues (and even your bosses)!

Working in paradise…

Fri, 12 Aug 2011 07:07:55 GMT

What do you think of when I say the following: Crystal clear water… sunshine pouring over you… not a cloud in the sky… the smell of coconut tanning lotion filling the air…? You’d think of the beach perhaps. Relaxing on a towel, and letting the sun do its job by giving you a golden tan.

You wouldn’t think of work, that’s for sure. But that’s how I spent my Friday morning. Working. On a boat. At Stingray City. And okay, okay – maybe I went a bit OTT with the tanning lotion. There was none. And maybe there were a couple of clouds… But other than that, it was perfect weather for our CML TV crew to shoot a trip to Stingray City for Grand Cayman Marriott Beach Resort.

I am a new member to the CML TV team. I’ve said ‘Goodbye’ to my CISPA and CISHRP Liaison Officer roles, and have started working as a Producer (no longer will I be referred to as ‘the CISPA chick’ by random people I don’t know when I go out)! This morning we arrived at Safehaven at 8am – not the best time of day for me, but I had my smoothie and tried to look bright, sparkly and enthusiastic about being up so early to jump on a boat and see some squishy fish… Which if I’m going to be honest, wasn’t so hard at all. I just had to think about all my co-CMLers on their way to the office, and I felt so much better!

I met our Red Sail crew for the day – Bob, Roy and PJ (I forgot their real names, but I’ll say that I’ve changed their names for privacy reasons), as well as staff from the Marriott and their guests, and more of the CML TV team. We set sail and headed towards Stingray City, taking footage along the way. It was great to be able to capture the excitement of people who had never seen stingrays before.

For those of you who have never been to Stingray City, it is a sandbar in the North Sound of Grand Cayman. It is one of the most popular tourist attractions of the Cayman Islands, and as the name suggests, has a high population of stingrays. Being Australian, I’m not overly fond of the slimy creatures but have to admit that it is an experience like no other. Once you get off the boat, you are standing in waist high water. The stingrays swim up to you (this is usually when I squeal a little bit), but most of the time just keep going past once they realize you don’t have any food on you. When you go to Stingray City on a tour, your tour guides will most likely hold a stingray and let you feel their wings. The texture on top of the stingray is like wet sandpaper, and underneath is like a wet Portobello mushroom. Once you’ve been in the water and are comfortable you can even have the opportunity to hold one, kiss it, or have it give you a massage!

The video captures every part of the tour, and once it is uploaded on to our website, I’ll be sure to let you know! If you would like to view any of our other videos, please visit: http://www.cmlor.com/cml-tv/cml-tv.html

A Personal Assistant’s Experience in the Cayman Islands

Thu, 11 Aug 2011 07:22:43 GMT

As recruiters, our job at CML Offshore Recruitment is to assist candidates in pinpointing their career goals and finding the best jobs that would suit their future. Over the years, CML has helped many satisfied clients and candidates discover and enter new roles and career changes. Today, candidate Laura has kindly shared her job-seeking experience below.

Who is Laura? Laura is a past CML candidate and hard-working Caymanian! CML’s Trust, Administration and Support Services* department placed Laura as a Managing Director’s Personal Assistant in August 2011.

*Please note, this department is now our sister agency Nova Recruitment .

Laura’s Job Seeking Experience

My recent experience with Louise Reed of CML Offshore Recruitment was exceptional. From beginning to end, I was regularly updated and guided through the process.

I had times of anxiety about the client interviewing process and general testing, and Louise was gracious in taking the time to meet with me and practice interviewing skills – always demonstrating flexibility to work around my schedule when I requested assistance.

In the couple of instances that she was not available, there was always a consultant who was well versed in my employment venture, and Louise immediately followed up with me.

She provided sound advice and guidance without ever imposing her views – and she was an absolute pleasure to work with. Louise was insightful and attentive to listening to my experience and helping me to formulate responses to questions that I was unsure how to best handle.

I liked the personal touch that CML clearly delivers with their service, always ensuring that their candidate is confident in knowing that they are there to help.

Hearing our candidate’s success stories bring us pride! Thank you, Laura, for sharing your experience with us. The CML team wishes you the best of luck in your new job!

Are you looking for assistance with your job search? CML Recruitment or our sister agency Nova Recruitment can assist you with finding positions that best fit your future career goals. To learn more, please contact our team at info@cml.ky .

The Rogue, Alchemy and a Bitter Struggle

Mon, 08 Aug 2011 07:25:19 GMT

Agency-side recruiting is rarely as simple as putting a good candidate forward to fill a role. The only certainly is that it will never be as easy as following the handbook, using the Applicant Tracking System, and making a placement. While every organization is different, there are some common ways that hiring decisions are approached. Three of the most common in my experience are below. Thoughts?

The first is the rarest – a golden goose to recruiters. I’ll call him The Rogue. The Rogue is a hiring manager who doesn’t care about anything other than getting a candidate he likes. He doesn’t go to HR, his superiors or anyone else. When on the Rogue’s good side, placements come fast and furious. Unfortunately, it usually isn’t too long before one of the other common hiring practices kicks in and reels the Rogue back in-line – when that happens, the recruiter is usually seen as more of an accomplice than a hiring partner, and when that happens, the golden goose is gone.

A hiring committee is the puppet-master – a group of shadow figures influencing all aspects of talent acquisition. This mysterious group is made up of unknown members who are impervious to penetration or influence by any outside parties; especially recruiters’. They have no communications with the outside world, and yet are somehow able to form sophisticated assessments on applicants, recruiters, (whom the majority of them have never met or spoken with), salaries, and broad labor markets… None but the initiated can understand the hiring committee’s staffing black magic. If you’re in the know, lucky you; if not, then make your introductions and leave them to their musings. Rest assured they will tell you, when the appropriate time comes, all will be revealed to you and your candidate.

BL / HR Partnerships are curious propositions. They can sometimes be wonderful alchemy; blending the processes and insights of HR with the bottom-line business understandings of a Business line manager. When this happens, everyone is a winner – the right candidates fly through assessments, interviews are smooth and well organized and offers / contracts are pre-vetted and drafted before an offer even goes out. Often though, they are a more like battles between two completely equal yet diametrically opposite foes. I’d imagine a Dragon vs. a Phoenix. They are forever locked in a struggle that neither can ever win. In these cases, pick a side and do what you can to influence. Well-timed influence might make the difference in your side winning (and your candidate moving forward).

Caymanian Candidate Shares Her CML Experience

Wed, 03 Aug 2011 07:50:44 GMT

Over the years, CML Offshore Recruitment has worked with many Caymanian candidates of different ages, careers, and educational backgrounds.

With years of experience under our belts, we’ve strived to team up with many dedicated Caymanians to place them in the roles of their dreams! In this blog, we have decided to get in contact with past CML candidate, Kim, to discover her experience.

With commitment and teamwork, our team placed Kim as a Banking Operations Assistant in July 2011. Today, we decided to speak with Kim to get a glimpse into how she is doing in her new role and her wise advice.

Kim’s Experience & Advice

Firstly, I would like to thank Louise and Tiffany for all of the effort and commitment they both put into getting me a job. I must say I absolutely love my new job and my position. I finally feel at ease knowing that I am employed and comfortable where I am.
The people I work with are very nice and easygoing, just like myself. Today was my second day and I am proud to say that I am ALREADY processing work and getting hands-on training.

I would like to take this opportunity to tell all unemployed job seekers “DON’T GIVE UP” no matter how hard it gets, it will only get harder if you give up. Have faith and don’t take no for an answer.

Not every job is perfect for everyone, but there is a place and position somewhere perfect for you. Market yourself, learn as much as you can, and have your resume with you always!

I am finally back in the working world after months of no work because giving up was not an option for me. I would like to thank CML Offshore Recruitment for not giving up on me as well. CML is changing lives and making a lot of good things happen. May God bless you for your good works.

Hearing your Success Stories makes us beam with pride! Are you a Caymanian looking to be placed in your dream career? CML Offshore Recruitment would be happy to assist you with your job hunt. Don’t hesitate to get in touch with us at info@cml.ky for more information on the job searching process.

Caymanian Graduate Shares His CML Experience

Wed, 03 Aug 2011 07:29:17 GMT

Over the years, CML Offshore Recruitment has worked with many Caymanian graduates of different ages, careers, and educational backgrounds.

Our trusted professionals within our Trust Admin and Support Services Team* have worked amongst our recent Caymanian candidates and graduates! Today, we decided to get in contact with past CML candidate, Dorbin, a Caymanian graduate who we placed as a Graduate Trainee in the Insurance industry. Dorbin happily shares his job-seeking experiences.

*Please note that the TASS team has since rebranded and is now Nova Recruitment , an agency entirely dedicated to admin, support and speciality roles in the finance and legal industries here in Cayman.

Dorbin’s Experience

Everything has been going great. I am really enjoying my time with my new company. It’s a great work environment with great people, and I have been learning a lot. My experience with Louise and Tiffany and the rest of the team at CML has been a great one. CML was able to find me more than just a job, their guidance and resources directed me into a career path that I had never considered before, and I truly love it thus far.

I appreciate CML’s help in my job placement and with relocating back home to Cayman, and I truly appreciate the extra effort Louise and Tiffany put forward. I have already recommended the Trust, Administration and Support Services team and CML as a company to colleagues in Cayman, Florida and New York.

Yesterday we shared Caymanian candidate Kim’s CML experience – Click here to read more!

Hearing your Success Stories makes us beam with pride! Are you a Caymanian graduate looking to be placed in your dream career? CML Offshore Recruitment would be happy to assist you with your job hunt. Don’t hesitate to get in touch with us at info@cml.ky for more information on the job searching process.

Recruitment for Caymanians: UCCI Graduate Shares Experience

Wed, 27 Jul 2011 07:55:08 GMT

As a recruitment agency that brands for professionals, we have heard countless times before,” ‘They only help high net worth candidates,” and “They won’t help a Caymanian.” Well, the CML team is here to clarify these common misconceptions. CML Offshore Recruitment is, in fact, a recruitment agency for Caymanians!

CML Offshore Recruitment has worked with hundreds of Caymanians of all ages, educational backgrounds, and careers. Don’t believe us? Read all about our candidate’s success stories and job-seeking experiences.

A UCCI Graduate’s Experience – ‘Dear Caymanians’

“I am a young Caymanian who has gone through the full system: educated up to Bachelor’s degree (now seeking my next step), yet I’ve been rejected from many companies, speaking to HR managers for advice, and have applied to many places just as well.

All changed when CML came into my path, and I applied. They were really professional, understanding and knowledgeable even when I started out as a candidate. Sometimes it just takes patience, ambition and perseverance to succeed in life. CML has opened a door for me and took me in with open arms. They were flexible with me, allowing me to study which I recently finished my Bachelor’s degree in Finance at UCCI, which they were so supportive of (Thanks Steve & fellow colleagues, for the Congrats).

Furthermore, I know how it feels to be in a position of desperation and just hoping that these companies will realize that you have true talent. Honestly, the best thing is to keep your head up and keep on trying. There are many who are competing against us, so we have to strive to be the best and show it. I know it may seem cliché to say these words, but they do have meaning. Giving up means giving up your pride and all you have worked for.

CML seeks talented individuals, and you can be that person. I had the chance, and so can you. Look for ways to gain experience, look for ways to motivate yourselves, and just look to the future, and you will gain that feeling of accomplishment that we all want!”

We encourage the local community to reach out to our team for assistance if you are looking for a new position. CML Offshore Recruitment will be happy to assist you with your job search and give you advice along the way. Speak to a recruiter at info@cml.ky to discover how you can begin your search today.

Social Media Recruitment – Is It Better Than Traditional?

Tue, 26 Jul 2011 08:00:47 GMT

Is recruitment social media recruitment the way forward? Let’s talk about it!

As technology rapidly changes the way the world communicates and receives information, so too must the way in which recruiters, hiring managers, and HR teams find their top talent. As we’ve spoken about before , we believe Social Media (Linkedin, Facebook, Twitter etc.) has a place in promoting and hiring strategies, but can social media replace traditional headhunting and recruiting?

The Pitfalls of Using Social Media for Recruitment

Nowadays, many large organizations hire in-house recruitment teams to drive down the cost of using external agencies. Much like banks who hire in-house Lawyers, this decreases the cost of using external counsels.

The pitfall is that data produced on the candidate become out of date within 3 months. Many organizations have successfully installed highly expensive ATS (Applicant Tracking Systems), which is only somewhere to store information. However, many forget to update the information when the candidate has moved on.

LinkedIn has become highly popular for in-house recruitment teams. However, many fail to realize that all of their competitors use the same tactic. By approaching the candidates directly, organizations do not know they are putting the job search back into the hands of the candidate.

What will happen when a candidate has multiple firms badgering them? The job search process becomes overwhelming. You may lose the candidate rather than persuade them. This is an important reason why candidates themselves work with recruitment agencies.

Are The Candidate’s Data Protected?

The important question is, is the candidate’s data protected on social media? Unlike posting your CV, resume and contact information on social media, traditional recruitment agencies allow candidates to feel secure when sharing their information. Data then is stored in a protected database to which only the recruiters can have access. To us, privacy is a plus!

Conclusion

Additionally, the amazing benefits of traditional recruitment are worth the cost. Social Media can play a significant role, from a branding perspective, in branding you and your organization. Social Media tools are a great way to find information on potential candidates, and it’s a great way to brand yourself, but that is all it is – a tool. Traditional recruitment is the way to go! In the legal and financial world, the art of good headhunting/recruitment is still alive and kicking, and our clients and candidates still see us as trusted advisors.

Social media will never replace professional advice and guidance! Get in contact with CML Offshore Recruitment at info@cml.ky to begin your job or candidate search today.

How women hold themselves back?

Sun, 24 Jul 2011 08:04:38 GMT

Some interesting (if self-serving and somewhat simplistic) advice from Learnvest CEO Alexa Von Tobel.

While some may find inspiration in her story, others will question whether a Harvard graduate still in her salad days that started her own company is well-placed to be giving advice on how to work your way up the ladder. My advice would be to get an Ivy League education, have a good business idea, raise US$4.5m in capital. You’ll be peeing in the executive washroom before your 30th birthday, I guarantee it.

I mean, would you take career advice from Mark Zuckerberg?!

http://www.huffingtonpost.com/2011/07/23/learnvest-ceo-alexa-von-tobel_n_907454.html

Interviewing a Prospective New Boss

Fri, 08 Jul 2011 08:08:55 GMT

A piece of advice I give candidates, especially in their final interview, is to make time to interview their prospective new boss.

Deciding on a new position is always a difficult decision to make , so you want to make sure that when you do move that you can feel confident that it is a good decision; part of that decision will be based on the leadership you will be reporting into.

While time constraints, politics and courtesies all need to be taken into consideration, I firmly believe that ‘interviewing’ your potential new boss is one of the most important steps in deciding if a role is right. When given a chance and appropriate time, asking a few questions never hurt anyone.

Questions to Ask Your New Boss

How do you give direction when asking your subordinates to work beyond their stated scope?

The answer to this question speaks to autonomy, possible micromanagement and the potential opportunities to move beyond a title and job definition.

How do you prefer to communicate?

With how we work changing so much of late (working from home, hyb r id work , returning to the office, etc.), it is important to understand how they expect their team to work. Ideally, you should have some idea of what policies the organisation has in place for flexible working from earlier in the recruitment process, so this question is more to gain insight into how your specific team will work.

If it’s a hybrid work company that has no specific boundaries on where you work, but your new boss’s preferred communication style is in-person, then you can gather you’ll be spending a good chunk of time in the office. If you’re someone who prefers to work remote, then this could be a sign the team may not be the ideal fit.

Who is the best performer on your team, and why?

While some managers may skip around a question like this, there is hope that a few will be honest and share their stories. The best answer I’ve heard from an interview candidate was: “The hiring manager told me that his star at the moment was John because the other 4 team members had all quit within the past quarter.”

We were both interested in the hiring manager’s honesty when we spoke about the interview. The candidate, in particular, found this very refreshing. Receiving honesty from your new boss can tell you a lot about their morals and how they treat their employees. In fact, the candidate has already been aware that this manager had a few challenges. If they were not honest, then the candidate would have turned away. This is why honesty is so important. At the same time, it provided a chance to start building a relationship. Now, it has been 3 years later, John and the placed candidate have remained at the company.

From my own experience, it couldn’t hurt to find a possibly hidden connection sooner rather than later. In my early twenties, I had been terminated from a job due to a brand change; the job no longer wanted a college student. In my exit interview with my former manager, I learned that we went to the same college and were in many similar social clubs – albeit in different generations. That exit interview sparked a relationship that lasts to this day. In fact, at the end of the interview, he recommended me for a job I kept all through college. Who knows how the relationship might have changed for the better if I had asked this question during the intake interview a year earlier.

Are you looking for a new role where you feel confident in the team you’re joining? Reach out to our team at info@cml.ky today for a confidential conversation.

The Four Actions Framework in Recruitment

Wed, 06 Jul 2011 08:17:10 GMT

Have you heard of the ‘Blue Ocean theory of talent acquisition’? The Blue Ocean theory of talent acquisition is based on a Four Actions Framework. In short, these are the helpful actions CML Recruitment has implemented in our Research and Process Optimization daily.

The Four Actions Framework

1. Reduce

Take a look at your organization’s traditional recruitment methods of talent attraction, and start experimenting with cuts to see what is actually working and what isn’t so you can be more efficient. If you use job boards, we recommend using them less in your recruitment process. If you tend to go the traditional marketing route, and printed ads are the standard, ask yourself – is this method helpful? If not, reduce your exposure. If contingency recruitment firms are the norm, use fewer. By incrementally reducing your reliance on these methods, you will not only save money but free your employee’s time so you can do unique things that work best for you.

2. Raise

Look at the things that absolutely can’t be cut from traditional recruitment processes and raise the bar. A perfect example is assessments and interviews. How long does it take you to interview, assess and give feedback to a candidate? How much can you reduce that by? The goal is to hire qualified candidates before your competitors can even schedule interviews. The same holds for any process you control. Drive your techniques forward, raise the bar, and make things better so that you get far ahead. After, you’re not even competing anymore!

3. Eliminate

Get organized. Be sure to eliminate waste, unhelpful traditions and legacy practices that represent no significance. You might remove cookie-cutter job descriptions and go for competency modelling. Perhaps you might realign HR teams so you don’t have a recruitment coordinator, and then have agency recruiters follow new processes. It might be possible to have half-day collegiate interviews using structured interview techniques – that means no more gut-feel hires. Furthermore, eliminating waste automatically pushes innovation and generates improvement opportunities.

4. Create

And lastly, CREATE. Find out what is really important to your candidates and your organization. What makes your business a great place to work? You can gain a more targeted answer by asking new joiners, ‘Why did you choose us?’ The answer to this question gives you direction on how to play to your strengths uniquely – to create processes that generate impactful pull factors in candidates.

Read Jason Warner’s article, the inspiration for our version of the Four Actions Framework.

For more information on building effective habits and the recruitment process, don’t hesitate to get in touch with the CML Recruitment or our HR Consulting teams at info@cml.ky . We look forward to hearing from you.

Job Hunting with CML Recruitment – Part Two

Fri, 17 Jun 2011 10:13:23 GMT

This summer, we took the initiative to visit candidates who we successfully placed in positions in 2010. Our goal was to discover how they are getting along in their new roles after the job hunting process and to have them share their advice and knowledge

This week, we caught up with our candidate Sophie. Read our previous blog Job Hunting blog with our candidate Melissa!

Sophie’s Experience – One Year Later

What is your current job role?

Corporate Administrator

Was this the type of role you were initially looking for? If not, what changed?

Initially, I was looking for an Executive PA-type role, but due to unforeseen circumstances, I had to switch jobs 3 weeks into my 2-year potential contract. I am glad I did as the role CML subsequently placed me in was more challenging, learning new skills in areas I never dared venture into, i.e. hedge funds, as opposed to just the PA role.

Is your current job what you expected after job hunting?

Not initially, I thought it was straightforward admin, looking after overseas clients, but it has turned out to be much more than that.

How long did it take you to settle in? What did you do/with your company/and agency to help with this?

It must have taken me at least 6-9 months to feel completely home. Compared to big cities, the transport system is different. I didn’t have a full driver’s license and had to rely on local taxis. I was kindly advised soon after I arrived that one could hail down a minibus to get into town for a fraction of the cost. The social scene is more personal; everyone here knows everybody else, and people tend to get together more for social occasions. I don’t think there is a huge variety in shopping , but I have learnt that you can fly to Miami in an hour for a “power” shopping trip! ��

Was there anything, in particular, you did that you think helped you secure your new position/move to Cayman?

Having a fiancé who already lived and worked here helped. Louise Reed, also continuously plugged away at marketing my CV and kept me informed on who she had spoken to on a monthly basis and what was potentially in the pipeline. I think having language skills and over 10 years of work experience in a corporate environment helped as jobs are usually offered to local Caymanians first. Also, having Mauritius and Hong Kong in my background may have helped.

Is there any practical advice you would give people currently looking for work in the Cayman Islands?

Don’t bring your winter clothes unless your new job in Cayman expects you to go to New York or Canada during the winter months should you land a job. If you don’t like warm sunshine almost all year round, then I wouldn’t recommend Grand Cayman! If you do land a job, the contract is usually for up to 2 years, subject to renewal from what I understood. You must also have a clean police record and a clean bill of health. Learn new skills by online studying if it helps secure a particular job in Legal or Funds etc., which is what many jobs are in the Cayman Islands.

How would you describe your job hunting experience and, more specifically, working with an agency to find work?

It took 6 months to find my role, but I knew from the beginning that I wanted time to tie up loose ends in London before joining my fiancé in Grand Cayman. From day one, CML has been brilliant at communicating with me on what was happening or in the pipelines and, leading up to my final move here, has held my hand through all the formalities and paperwork to obtain a temporary contract. It has been relatively smooth with only minor hiccups, which were quickly recognized by CML and smoothed over/fixed.

Was this your first time using an agency? What made you approach and agency?

No, not my first time, as I had used agencies in both HK and London in the past. I approached CML because my fiancé highly recommended them.

Did your experience using CML change your perceptions of recruitment agencies?

I found CML more comprehensive in keeping me abreast of what was going on whilst I was trying to look for work during the 6 months I was looking and realistic on my expectations.

Antoinette, the office manager, is also lovely to speak with and very approachable on any queries I had, from work permit questions asking for reference letters to pension and health insurance matters. Fiona Meagher was also very helpful in sorting out the renewal of my work permit, what I needed to do, and where to go to obtain all the relevant long list of administrative paperwork involved. Past agencies made me feel like I was just a commodity to be exploited, throwing any old jobs at me to interview for which didn’t turn out to be suitable; CML listened to my wishes and needs and wants and allowed me to try out a new role outside my comfort zone that they knew I would be capable in fulfilling a role at my present job.

Would you use an agency again? Would you use CML again?

Yes, I would use an agency again as it was CML who found me my current role, and it’s easier to use an agency when job hunting as they have more contacts they regularly keep in touch with. I would use CML again as Louise Reed knows her client’s needs and is also sensitive to potential recruiter’s needs in finding the perfect fit for you and the company. Louise has also been very good in advising me on what other courses I could take to help complement my current role and expand my CV. In fact, she is so good that I hope to gain a perm contract with my current role soon!

Be a part of our success stories! Make your job hunt easy by working with the CML Recruitment team. Don’t hesitate to contact the CML team at info@cml.ky for more information.

The Benefits of Team-Building

Wed, 15 Jun 2011 10:19:53 GMT

Last Friday afternoon, the CML Recruitment closed our doors early to host a team-building afternoon.

The main aim of this meeting was for the CML team to come together as a unit to test different team-building exercises. These exercises, such as “Two Truths & A Lie” ignited a fun and cooperative environment where the team was able to learn more about one another. This also brought up some interesting facts about our team; amongst us, we have a chocolatier, a krypton factor finalist, a blue peter badge holder and plenty of musicians!

Afterwards, the CML team decided to take on bowling to utilize our new team skills. With our new skills, we were able to communicate and work better together as a team. We had a blast! To be honest, the competition was tough, but in the end, Chris Turrell and Jamie Ware were the top bowlers at CML!

I have to say, everyone thoroughly enjoyed the team-building afternoon and are dedicated to hosting more events regularly. If you are an employer or member of a business or organization, I highly encourage you to implement a few exercises.

The Benefits of Team Building

The main goal of team-building exercises are to help improve productivity and motivation. Meeting with employees outside of an office setting will help your team break down political and personal barriers, eliminate distractions and work concerns, and most importantly, have fun. Here is a list of benefits of team building:

Improves morale and leadership skills
Clearly defines objectives and goals
Improves processes and procedures
Improves organizational and individual productivity
Identifies a team’s strengths and weaknesses
Enhances the ability to problem solve

Are you looking to change careers and join a team-oriented organization? Let’s work together as a team to find the perfect job for you! Click here to view CML’s current job vacancies! Or contact info@cml.ky for more information.

Job Hunting with CML Recruitment – A Success Story

Tue, 14 Jun 2011 10:34:47 GMT

At CML Recruitment, we specialize in recruiting and helping people during their job hunt. Therefore, we know a thing or two about the job-hunting process.

The Cayman Islands is a paradise for jobs, but where should you look, and how can you turn job hunting into a success story? That is where CML comes in! With years of experience under our belts, our goal is to make sure your job hunt goes smoothly. With many loyal clients and hundreds of successful candidates, CML became the world’s largest offshore specialist recruitment consultancy. How do we do it? We help to place you in jobs that are the best fit. Don’t believe us? Read our Success Stories .

CML has used this summer to revisit our candidate’s success stories that we placed in positions back in 2010. We were happy to learn how they adapted to their roles and whether that has evolved over the year. Here is what we found out.

We first visited our candidate Melissa, a fantastic young Caymanian placed as an Insurance Underwriter in the Cayman Islands.

Melissa’s Experience – One Year Later

What is your current job role?

Insurance Underwriter at Island Heritage Insurance.

Was this the type of role you were originally looking for? If not, what changed?

Yes, it is; I’ve been in the Insurance field for over three years now and, within the past year, have been able to enter a new division and take on more responsibilities.

Is your current job what you expected?

My job role is ever-expanding, so, yes, it is what I expected.

How long did it take you to settle into your job? What did you/your company/agency do to help with this?

I settled in almost immediately. It took a lot of faith, determination, and hard work from Louise [my consultant] and myself, and a very warm ‘welcome’ from my employer, to make this happen.

Was there anything, in particular, you did that you think helped you secure your new position?

Interviews are moderately difficult, but you have to look at them objectively; for example, if you’re taking an exam, you’ll have to study to pass. The same concept applies when job-hunting: I wanted to make the best impression I could and, at the same time, allow the company to realize they had a potentially good applicant for the position. Work on your interviewee technique and do some research on the position and the company [you’re applying to].

Is there any practical advice you would give people currently looking for work?

Keep at it! If you can figure out what you’re good at and combine that with what makes you happy, you’ll realize all the hard work you’ve done up to that point has been worth it, and everything you do after that will be much more significant.

How would you describe your job searching experience and, more specifically, working with an agency to find work?

Job-hunting is very difficult; a consultant can help make the process that much easier. There aren’t enough words to express my gratitude to my consultant, Louise. If she hadn’t picked up the phone that day, my situation could have been very different right now.

Was this your first time using an agency? What made you approach an agency?

Very first, yes. I’d submitted a resume to another agency before, but nothing ever came of it. My decision to approach the agency was by chance, really. I opened the paper one day and saw that CML was advertising the “Coffee & Cake social” and decided it could be the opportunity I needed. I met with a consultant that day, but it was gently suggested I try to make the best of my current situation; I had a job, and many others did not and in the current climate it might be better to stick things out until the market starts to look more positive for job seekers again. I did try my best where I was at the time, but I’d already known it wasn’t for me. About 6 months later I got the opportunity I’d been waiting for when I got the phone call from Louise.

Did your experience using CML change any of your perceptions of recruitment agencies?

It certainly has!

Furthermore, would you use an agency again?

To assist with job hunting, I would definitely use CML Recruitment again.

Be a part of our success stories! Make your job hunt easy by working with the CML Recruitment team. Don’t hesitate to contact our team at info@cml.ky for a confidential conversation.

All in a good cause for Cayman law firm

Wed, 25 May 2011 10:44:51 GMT

see

http://www.compasscayman.com/caycompass/2011/05/24/Cyclists%E2%80%93fundraising-challenge/

Relocating to the Cayman Islands: Success Stories

Mon, 23 May 2011 10:51:32 GMT

Hear from some of our candidates about their experience relocating to the Cayman Islands!

Working in recruitment has allowed me to meet many people hoping to make the move. The main question many have asked is: How was my experience moving to Cayman as part of a couple? For me, the experience was all too positive. Obviously, it is always hard to say goodbye to family and friends back home, but once we relocated, I felt settled almost immediately.

Over the last few weeks, I’ve met many so-called ‘newbies’ on the island. Just this morning, I sent them all an email to find out if their experiences of relocating had been the same as mine or if I had just been lucky. The result; turns out 100% of everyone I asked felt the same way! Don’t just take my word for it, have a read of some of the quotes I’ve been sent.

How Has Your Experience Been Relocating to the Cayman Islands?

From Katherine –

“I was anxious about moving to Grand Cayman and living so far away from my family and friends, but from the minute I landed, I have been made to feel very welcome. Settling in is made easy by the number of social events organised weekly and weekends. I have particularly enjoyed getting involved in the numerous sporting activities where I have met some like-minded people who have made me feel at home.”

From Iain –

“Settling in was probably the biggest worry I had prior to coming to the island but turned out to be one of the easiest things about moving here. Everyone you meet has been in the same position as you have so can relate to your experiences. If you get involved with sports you’ll soon find yourself having to turn social events down and plans things weeks ahead! There is always something to do at the weekends (and most nights too)!”

From Rachel –

“I came here with my partner and we found it so easy to make friends here because everyone is in the same boat having moved away from friends and family, your friends quickly become your family here.”

Are you thinking about moving to the Cayman Islands? CML Recruitment will be happy to speak with you about the prospects of this, the current employment market and more on what to expect with a move. Please get in contact with a member of our team at info@cml.ky for a confidential conversation today.

KPI & CSF: How To Predict A Candidate’s Performance

Thu, 19 May 2011 12:38:33 GMT

We’ve found it particularly useful to get early insight into a candidate’s core skills, discipline and general transferability in their career using the KPI and CSF methods.

You may be asking yourself, what is the difference between KPI and CSF or you may be asking what even are they? To begin understanding your candidates, you will need to get acquainted with what these phrases are.

What is a KPI?

I’KPI stands for Key Performance Indicators: KPIs are the specific metrics or numbers measuring a candidate’s process in areas such as revenue or sales. Viewing these metrics gives a clear view of a candidate’s strength in a specific area. For example, a candidate’s KPI will indicate whether or not they have met their sales target for 2010. If the results state they have met this target, they have reached their KPI.

Reviewing KPI information is good, and important; but any experienced recruiter can tell you that however well a candidate did in their last job, you never really know how well they might do in their next one as there are other factors to consider. KPIs give us an insight into a candidate’s work ethic and commitment to meeting targets, but will it translate over to how your business operates and the culture that you have? This is where effective interviewing and candidate assessing skills come in.

What are CSFs, and Why Do We Use Them?

CSF stands for Critical Sucess Factors: These are the specific actions or steps taken to achieve goals within a business. I’ve found that CSFs are a lot more telling, and a much better indicator of if a candidate has the core skills, flexibility, and discipline to make it in the long run in a new job.

You also know the team this individual will be joining and how they currently work. By asking about CSFs, you’ll understand how this individual works and be able to make a better judgement on how you think they will mesh with the working styles of the potential new team.

What to Ask in Interview

So, if past performance isn’t a guaranteed assurance of future achievement, what can we do to get insight into future performance? We suggest that instead of relying heavily on ‘what were your KPIs and did you meet the targets?’ when interviewing a candidate, instead ask ‘What were your CSFs, and did you meet your daily/weekly targets?’

Find the best candidate for your organization with one of CML’s top recruiters. For more information, feel free to contact info@cml.ky today for a confidential conversation.

New TV Broadcaster proposed for Cayman

Wed, 18 May 2011 12:42:28 GMT

Yet another new and exciting development for the technology industry in the Cayman Islands…Iceman Production, an international television broadcasting company specialising in sports programmes and sports marketing services has revealed plans to relocate to our shores. To further accentuate the coup that our islands have made, Iceman Production was previously slated to move to the US Virgin Islands.

The article reported in the Tuesday May 17th edition of the Caymanian Compass went on to describe the operations of Iceman in more detail. In particular the editing and production facilities will be brought to Cayman, thereby creating a platform for the Islands to be recognised in the global sports market for broadcasting as a supplier of multilingual international programming.

Iceman focuses in particular on Offshore Powerboat Racing, International Long Drive Golf and High Impact Motorsports. This has already had a significant knock on effect with news that the 2011 World Championships in Long Drive Golf will be staged here in Grand Cayman. An Offshore Powerboat Race has also been planned. These events have a commercial value to the islands of circa $25million each and an estimated broadcast audience of 350 million households; both English and Spanish speaking.

In short, it offers a tremendous opportunity for Cayman to offer itself as a broadcasting hub and is further evidence that the recent push by the Government to focus on rebranding the Cayman Islands as a regional technology centre is succeeding. Hot on the heels of the recent news that Chinese telecommunications company Cogo Group was looking to redomicile – the future is certainly looking extremely bright for Cayman’s burgeoning technology industry, even before detailed plans for the Special Economic Zone have been revealed.

All this has been achieved, even despite criticism by the Iceman CEO of the Cayman Tourist Board!

Useful Tips to Help You Nail Your Interview

Tue, 17 May 2011 12:43:51 GMT

The interview process is one of the most nerve-wracking parts of any job search. We have all been there – strenuously perfecting our resumes and waiting on the call that states whether you’ve got the interview. As recruiters, the CML Recruitment team has always been asked for expert advice on how to nail the perfect interview, so today, we are sharing our tips!

Expert Tips on Nailing the Interview

1. Do Your Research

Before arriving at an interview, research the company you are applying to. How did they begin? What do they do? What are their visions and missions? What are they trying to promote? It is also good to review your resume to think about your skills and qualifications and be prepared for the questions you might be asked.

2. Look & Act The Part

The most important thing you can do to impress your interviewer is to convince them that you have the right attitude, skills and requirements for the job. Make sure to dress professionally and smartly. Additionally, be prepared to arrive early; If you are on time, you are late, so be there 10 minutes early. It’s incredible what first impressions can do!

3. Ask Questions and Be Interested

Always remember that the interview is not only a chance for the interviewer to assess if you are the right person for the job, but it is also an opportunity to see if the job and the company are the right fit for you. During the interview, you should make sure to answer all questions as well as ask your own when appropriate. I would suggest asking questions that show you’re interested in the position and want to learn more about it, such as ‘What are the main tasks and responsibilities of this position?’ Also, never sell yourself short; make sure you are getting across your strengths and attributes and why you are the right candidate for the role.

From experience, my least favourite question during an interview is, ‘What are your weaknesses?’. This is not because I don’t have any (I’m sure my partner could reel them off) but rather because I don’t want to draw attention to them. Always remember that every negative can be turned into a POSITIVE! Let’s look at a few examples below:

How do you handle tension or stress? Thoroughly explain how you avoid stressful situations and, if not, how you deal with them, for example, Communicating, exercising and going to the gym.
How well do you take direction? Explain by giving examples of how you can be briefed and finish the task without unnecessary disagreements/complications.
Do you prefer working with others or alone? Explain how you can work well in both situations.

4. Be Confident & Honest in the Interview

Finally, I cannot stress enough the importance of being confident and honest. No matter what situation you encounter, honesty is always the best policy! If you are asked a question and don’t know the answer, it is wise to admit to it rather than making something up that will likely be completely wrong. Your interviewer will no doubt be more impressed by you this way!

Need more specific job-seeking advice or assistance? Reach out to the CML team at info@cml.ky today for a confidential conversation.

Hiring Strategists Vs. Recruiters

Mon, 16 May 2011 12:37:51 GMT

In much the same way that all contracts are agreements, but not all agreements are contracts; all recruiters follow a client’s hiring strategy, but not all recruiters are hiring strategists.

Last week CML Recruitment Process Optimization client in the C-suite asked me a blunt question. He said: ‘’how do I know if my recruitment vendor is any good, Brant?” Knowing this particular client particularly well, I know he wasn’t asking about core metrics, overall effectiveness or anything about the actual science of recruitment. Rather, Mr. Client wanted to know ‘is this agency worthy of my business?’

My response to this question was another question: “Are you giving the vendors an understanding of the direction and scope of your organization’s growth, Mr. Client? Are they sharing the actual means by which they plan to pursue and realize your human capital means over time, or are they working with your HR teams to shuffle CVs?”

My answer though was really just a polite way to ask “Are you being a good client?” The fact is that finding a vendor that behaves like a hiring strategist, and not just a recruiter, is a two way street…

Of course, doing everything possible to be a great client, and make a vendor worthy of business doesn’t necessarily mean performance is guaranteed. Having that level of relationship is the minimum starting requisite though…

Learn more about the perks of hiring a recruitment company/recruiter. Contact any of our CML’s Recruiters to find out more.

Effective Delegating in Recruitment

Fri, 13 May 2011 12:32:13 GMT

Did you know that engaging with a recruitment agency is a managerial decision to delegate a task? That’s correct. Delegating tasks play a significant role in working more effectively and efficiently. But, when it comes to delegating tasks, managers often forget that delegating is supposed to increase job satisfaction, not take away from it.

Delegating The Recruitment Process

When our clients ask for assistance in managing their day-to-day projects with recruitment agencies, we begin with one crucial question: “How interested are hiring managers in the roles you are trying to fill?”

If the answer is ‘Hiring Managers are honestly not that interested in the functions or roles’, we advise our clients to put strong metrics and performance benchmarks in place when searching for candidates and delegate the recruitment process to Human Resources staff and a recruiter. As professionals, we tend to respond with: “In that case, here are the metrics your HR team should use on the recruiters. We suggest you take a hands-off approach and focus on the quality and results. You will need to trust your HR team and the recruiter. After all, it’s in their interest to fill the jobs to your satisfaction.”

However, when clients tell us Hiring Managers are interested in their organization’s roles, functions or specifics, our advice is very different. When Hiring Managers express a sincere interest, we often respond with: “Well, if there is a sincere interest in the recruitment process, you should get involved. We recommend that hiring managers schedule frequent slots in their calendars to recap and discuss projects with both HR and the recruiter – delegate, but actively manage!”

Questions To Ask Your Recruiter

We also advise on the search aspects that a recruiter is best suited to engage meaningfully with management. Here are a few questions we tend to ask to move the recruitment process along.

What is your average team size?
What titles does the function carry in other organizations?
What is the bonus vs salary structure in other organizations?
Where exactly have we searched? Where have most applicants been generated?
Where exactly would the recruiter recommend we search next – and most importantly, why, what, where?”

Keeping these questions in mind allows the Hiring Manager, HR team, and recruiter to examine their process, gain insightful results and delegate tasks to work more efficiently and effectively. Delegating tasks do not have to be strenuous if you have complete trust in your organization!

As a Hiring Manager, you will be happier to see results while still having an active hand in the process. In return, your HR team will be glad to work more closely with dedicated candidates, and any recruiter will be grateful for your commitment to the project.

Are you looking for the perfect candidates suitable for your organization? Let CML do the heavy recruitment lifting! Contact Jakub Jahnl at Jakub.jahnl@cml.ky for more inforamtion.

The Only Way is Offshore (TOWIO)

Thu, 12 May 2011 12:27:25 GMT

Spoiler Alert – this isn’t some new MTV / Reality TV show about the lives of Offshore expatriates – although if it was I have no doubt it would be far more interesting than the offerings of the incumbents of Essex, Newcastle, Chelsea, New Jersey, OC and so on. No, instead I’m talking about the results from the 3rd Annual HSBC Expat Zone survey.

While I feel duty-bound to mention that because this is only the third survey conducted and therefore hasn’t incorporated some of the smaller jurisdictions like the Cayman Islands or the British Virgin Islands, it does still shed some fascinating insight into the successes and perhaps, more importantly, the locations that are most beneficial to experience Offshore / Expatriate life.

Countries of direct interest and relevance to CML followers would be Hong Kong, Singapore, Bermuda and to an extent Canada and the US. That being said the content and lessons that can be gleaned from this report are certainly directly applicable to the Cayman Islands as well.

For starters – the reports: There are three conducted by HSBC.

Expat Economics Report – focuses on the Financials – i.e. Salary Earnings, Spending, Saving, Investing, Disposable Income and Luxuries.
Expat Experience Report – focuses on overall ‘Quality of Life’ encompassing ease of settling/relocation, finding accommodation, finding schools for children, setting up finances, local climate, making friends and integrating into the local culture.
Offshore Offspring Report – focuses on children, the cost, happiness, education and so on.

Offshore Report Findings (Summarised)

I’ve summarised the relevant findings for each report (n.b. I’d recommend reading each report comprehensively and/or speaking to one of our recruitment consultants so you’ll be able to discuss not only these findings but also offer real-life examples and opinions).

From the Economic Report: – Singapore and Bermuda rank joint 4th globally, with Hong Kong a close 9th. (This is out of the main 25 Expat destinations worldwide.) All ranked highly in terms of wealth, income and disposable income and were classed as ‘Level 1’ countries to relocate to. Regionally Bermuda was top of the Americas and Hong Kong and Singapore were the top 4 in the APAC region.

From the Experience Report: – Bermuda ranked 7, Singapore 12 and Hong Kong 13. All 3 offshore jurisdictions ranked extremely highly in terms of ease of settling in, making friends, and integrating into the culture.

Finally, the Offspring Report: – Bermuda is somewhat irrelevant in this instance due to its 2 child per family immigration policy, therefore it was discounted. However, Hong Kong came 4th internationally with Singapore 10th. Interestingly US and UK ranked the bottom two, not only for this Report but overall amongst all of the findings!

While these surveys aren’t the be-all and end-all of what Offshore and Expatriate life means, it still offers an insightful view into the perks and pros of why relocation and redomiciling offer such fantastic opportunities to you worldwide. Who knows, it might even serve to inspire you to make that last push towards shedding inhibitions and relocating to one of our tropical climes!

If you want any further information, or even just want to discuss relocation opportunities, lifestyle or offshore intricacies don’t hesitate to get in touch with the CML team !

The 4Cs of Candidate Assessment

Thu, 12 May 2011 12:17:14 GMT

Last week, we published an insightful blog on The 4Cs of Opportunity Assessment. In this blog, we talked about the 4Cs, which consisted of questions you should ask yourself in the following areas – Company, Culture, Cash and Comfort. Today, we are diving into the other side of the recruitment coin and are ready to discuss The 4Cs of Candidate Assessment.

The 4Cs are – Culture, Class, Cash and Commitment.

As recruiters, hiring managers, or talent acquisition professionals, our minds generally accumulate piles and piles of assessment methodologies, benchmarks, scorecards, structured interview techniques and more. With so much ‘science’ behind our candidate selections, we sometimes lose sight of the little questions that cut to the heart of an applicant’s candidacy.

The 4Cs of Candidate Assessment

As we know, shortlisting a small portion of candidates out of an array can be challenging. While the science of selection is undoubtedly critical – because no one wants to choose an unfit candidate for the job – we must consider 4 important aspects about a candidate that can determine whether they are a good fit.

Culture: Is this person well aligned with the values of our organization? Are they coming from a company that preaches similar values? Is their personality a good fit with the people in our company?

Class: Is this candidate’s business ethics, reputation and general moral judgment up to our standards? Does the candidate understand where we stand on business ethics – do they appreciate the weight we put on these matters?

Cash: Does the candidate have reasonable compensation expectations, and can we make a reasonable and fair remuneration offer? If this candidate is joining for money, will they leave for money?

Commitment: Is there a clear consensus on the mutual commitment necessary to make a successful hire? Does the candidate sincerely believe we are committed to their wellbeing and success? Is the candidate sincerely committed to the organization, and will they be a team leader?

CML’s Process Optimization team acts as your educated advisors. Our main goal is to improve our clients’ recruitment practices. In this capacity, we ensure great candidates obtain exceptional opportunities while limiting the significant challenges.

Need more expert career advice? CML would like to help you! Contact Louise Reed to ask your questions today.

Understanding consultants

Wed, 11 May 2011 12:10:47 GMT

He starts by talking about ‘arms and legs’ consultants, and argues they might better be called ‘contractors’. Often times, in recruitment, agencies are hired under this category. When a company knows what they want, and knows how to get it done, but doesn’t have the manpower to do it themselves.

To manage ‘arms and legs’ consultants, Ron’s advice is simply to set strict time limits and stick to them. This is easy enough to see the value and benefit, and easy enough to implement.

The second type of consultant is the Technical Expert. These are specialists with expert knowhow who are brought in to resolve specific problems. Very frequently, recruitment consultants fall into this category; especially when the client is in a highly specialized sector and runs a very lean back office team.

To control costs with Technical Expert, it’s critical to have a clearly defined start-, and end-point for any project they are working on. When the job is done, so is the consultants’ work. Don’t be in a position where your Technical Expert consultants become permanently engrained into the organization.

Finally, Ron defines Partner Consultants. Partner Consultants act at strategic partners to their clients. They work alongside clients to help build capabilities, achieve outcomes and aren’t afraid to step aside when a project is completed. All recruitment agencies should strive to become Partner Consultants. The key to managing this type of consultant relationships is simply to use the same accountability on them as you do yourself.

You can read the entire blog by Ron Ashkenas at: http://blogs.hbr.org/ashkenas/2011/05/get-your-moneys-worth-from-con.html

Moving to the Cayman Islands: One Year In

Fri, 06 May 2011 12:06:12 GMT

It has been one year since I made the decision to move to the Cayman Islands officially. More specifically, the beautiful island that is Grand Cayman. Today marks one year – which has me thinking about how much my life has changed during the last 12 months.

Moving to the Cayman Islands

In March 2010, last year, my fiancé asked me how I would feel about relocating to the Cayman Islands, Grand Cayman. For starters, although it was a popular Caribbean island, I wanted to know where they were. Once we pinpointed it on our world map, we started daydreaming about days under the sun.

It took us four weeks to pack up our lives and say our (very teary) goodbyes. The moving process was hectic when we first arrived in the Cayman Islands. Just like any move, it took us a few weeks to find a place to live, something to drive and to set up our utility bills, car insurance, internet and telephone lines amongst other things and I would be lying if I said there weren’t a few moments where I wondered what on earth we were doing. Relocating has been daunting, but once you bypass the first few months, it is completely worth it.

Over the last 12 months in Cayman, I have done so many things that I wouldn’t have otherwise experienced, such as swimming with the dolphins and spending time feeding and playing with stingrays at Sandbar, and have experienced world-class scuba diving literally on my doorstep. I have become very active, spending many mornings running or swimming at the beach so the move has also positively impacted my overall health which was a welcome surprise. It is so nice to know that even if it is raining (which isn’t often unless in the rainy season, then there are some incredible thunderstorms!), it is still hot outside. On top of this, we have made so many great friends! The Cayman Islands has a sense of community because there are many colourful and #CaymanKind people.

To top it all off, working offshore has brought much more satisfaction than any job I have had previously. Having come from a commuting background, the 3-minute drive to my spectacular workplace is something that I genuinely appreciate. There is a great atmosphere in the CML office, and I meet so many interesting people daily.

Make the Move

It is Friday, and this evening a big group of us are going on a pirate ship cruise along Seven Mile Beach for a few well-earned after-work drinks. This definitely is not something you experience in a city so if you too are wanting to live the good life, reach out to a member of our team and let’s see if it’s a possibility!

Are you thinking of relocating to the Cayman Islands or another offshore jurisdiction? CML has got you covered! For more experience stories, advice or relocation tips, please feel free to contact a member of our team at info@cml.ky today.

The 4Cs of Opportunity Assessment

Thu, 05 May 2011 12:00:22 GMT

When weighing up a new job, we’d encourage you to conduct an opportunity assessment to ensure it’s a smart choice for you long-term.

As a candidate, you may worry about how resigning will affect your relationship with your current managers or break the bonds you have created with your subordinates. You may also consider how a new title might look to your friends or family – wondering if it might look like a demotion.

As recruiters, we’ve generally seen it all, and one thing rings true – despite logic and best judgment, career opportunity decisions are more emotional than anything else.

As we know, complex (especially emotionally charged) decisions are best handled within a structured framework. By working within a framework, it’s possible to remove all but the core considerations, which is the key to overriding your emotions during the searching process.

The 4Cs of Opportunity Assessment

To address the emotional volatility of candidates, we’ve discovered a structured framework we call The 4Cs of Opportunity Assessment. The 4Cs are listed as; Company, Culture, Cash and Comfort. We encourage all of our candidates to use this framework in evaluating potential career changes or opportunities.

Company: Is this a company/organization you want to be associated with – Does their brand and products match your principles? Are they leaders in your particular area of specialization? Is the company financially strong and growth-oriented?

Culture: Is this a company with a strong corporate identity? Do they have a reputation for commitment to their employees and staff? What is the attrition rate for employees in your position and seniority?

Cash: Will they pay you appropriately? Does the company match what you are worth? Is their offer at the market rate for your position and your seniority level?

Comfort: Does the position offered to have the potential to stretch you meaningfully out of your comfort zone? Will you gain professional growth in the role? Do you see yourself growing within the company?

CML’s recruitment team acts as your educated advisors. Our main goal is to improve our clients’ recruitment practices and our candidate’s experience in finding their dream job. In this capacity, we ensure great candidates obtain exceptional opportunities while limiting the significant challenges.

Are you looking for your dream job that ticks off all 4Cs of an opportunity assessment? Reach out to a member of our team today at info@cml.ky for a confidential conversation and we’ll help you get your career search started today.

Strategic Talent Management: Recruitment Process Optimisation

Wed, 04 May 2011 11:55:16 GMT

Are you a hiring manager or leader looking to strategically improve your talent management processes? Our team here at CML can help you with recruitment process optimisation so that you can reach your long-term strategic goals.

What is a Recruitment Audit?

Before we get into the importance of recruitment process optimisation to your overall talent management strategy, let’s get some definitions squared away so we’re on the same page about what we mean.

Audit: An official inspection of accounts by an independent body.
Recruitment Audit: An official inspection of the recruitment process by an independent body.

To get the highest levels of performance from talent acquisition activities, what we refer to as “Recruitment Process Optimisation”, a thorough understanding of all the systems and processes currently in place is needed. To understand the recruitment process’ health, you need a checkup of sorts – an audit. By breaking the process into its essential steps, we can see what parts are generating meaningful ROI, what parts need fine-tuning and potentially what areas are not serving you at all and can be done away with in their entirety.

What to Consider in a Recruitment Audit?

So, what are the basic, essential aspects of recruitment? In CML’s Recruitment Audit, we exclude affiliate and supporting teams and processes (C&B, Mobility…) and look at critical success activities, such as:

Applicant Tracking Systems
Recruitment Vendors, Agencies and Service Providers Effectiveness
Assessment and Selection Tools Accuracy and ROI
Talent Mapping and Applicant Attraction Activities ROI
In-take and Onboarding Processes Efficiency

Let’s get Down to Business: Recruitment Process Optimisation

With the cost-per-hire and total effectiveness of these five aspects uncovered, we can get down to the business of Recruitment Process Optimisation – reducing costs, improving efficiency and increasing quality.

Our HR Consulting and Recruitment teams here at CML will work with you through the audit to a point where we comfortably believe you can achieve recruitment process optimisation and make the most of your hires.

If you’re interested in engaging our teams to help you do this, reach out today to info@cml.ky and let’s get started.

Understand the Mentor, Understand the Candidate

Thu, 28 Apr 2011 11:50:43 GMT

Understanding your candidates is one of the most important aspects of the recruiting process . If you understand their mentor, you can better understand the candidate.

Sometimes, assessing others can be tricky and contacting references to gain insight into an individual can become excessive and tiresome. Is there an easier way to understand your candidate? Well, CML Offshore Recruitment is here to say yes!

Understanding the Candidate

An applicant who says they are able to learn from their mistakes is a good candidate. An applicant who learns from the mistakes of others is even better.

As recruiters and hiring managers, there are times when we are not able to check references before an offer is pending. However, there is still a way to learn about a candidate – from the insights of others and to seek to understand their mentor. After all, mentors are, by definition, better known and more senior than the applicants themselves. This in turn should mean that candidates’ mentors’ accomplishments, achievements, temperament, and abilities are more readily apparent than the applicant’s own – while reflecting strongly on the applicants.

Understanding the Mentor

But who are mentors? When reviewing a candidate’s background, you will find that many candidates have undergone moderate or intense training and close teachings. These are in fact close mentors to the candidate – who may also be listed as a reference. However, the main difference between a mentor and a primary reference is that most references listed are professional friends or past general employers. Mentors can be professionals who are advisors, internship mentors or trainers, teachers and professors, etc.

We cannot stress enough how beneficial it is to understand a candidate’s mentor fully. Understanding a mentor gives a more specific indication of the candidates’ work ethic and commitment than a current job title or specialization. This is especially important when assessing for areas outside our own specializations – which is to say, most of the time.

Are you currently hiring and need some assistance with the recruitment process? Reach out to our team today at info@cml.ky today for a confidential conversation.

CML ramps up its Commerce and Industry offering

Thu, 28 Apr 2011 11:40:35 GMT

After a number of successful placements with major MNCs, CML is now ramping up its focus on the Commerce & Industry sectors in Hong Kong and Asia-Pacific. This is supported by a growth in demand – as a recent article in ALB commented: “Many MNCs are looking to bolster their in-house teams within the region as they find themselves increasingly busy with work related to the healthy M&A and capital markets scene as well as an ever more demanding compliance and regulatory workload.”

Eunice Wong has already forged the way with a placement in a major FMCG company and is fast becoming the consultant of choice for in-house legal hires in the TMT and Real Estate sectors. CML congratulate her on an excellent recent placement and look forward to her dominating the in-house legal market across all non-financial services

Bermudian Telecommunication Upheavals Mooted

Wed, 27 Apr 2011 11:38:02 GMT

An interesting article from our media friends in Bermuda highlights a fascinating development in the Telecommunications industry. KeyTech has more recently been seen as a conglomerate with arms in different strands of the Telco world, however with these ‘potential’ developments it leaves us wondering is there really no smoke without fire?

http://www.royalgazette.com/article/20110426/BUSINESS07/704269961

Follow me on Twitter: http://twitter.com/#!/Offshore_IT_Job

The costs of moving offshore

Tue, 26 Apr 2011 11:30:53 GMT

Lawyers wishing to move offshore are not always certain whether, or to what extent, their future employer will assist them with their relocation costs and there are some misconceptions that abound.

Some candidates occasionally think that they will be given a permanent allowance towards their annual accommodation costs. This is not in fact the case with offshore law firms. Typically an offshore law firm will pay for the first month of a newly arrived lawyer’s accommodation, which is deemed to be sufficient time to allow them to enable them to find somewhere suitable to rent. Sometimes use of a hire car will also be provided for the first month.

In addition, typically a sum of anything between $3,000 and $5,000 will be given to the lawyer towards the cost of shipping their goods from their home country.

Finally, economy class return air tickets for both the lawyer and their family are usually paid for by the firm (with the return portion of the ticket thus allowing them to make their first trip back home to visit friends or family).

As is always the case, some employers are more generous than others but the above represents what a lawyer might typically expect to receive by way of assistance with relocation costs when moving offshore, whether to Cayman, BVI or Bermuda.

Life in Cayman: Shopping

Thu, 21 Apr 2011 11:26:29 GMT

Are you new to Cayman or looking to relocate soon? Let’s get down to the important subject… shopping in the Cayman Islands!

When you’re moving away from home one of the things you will think about is whether you will be able to buy your favourite clothes, make-up etc.. (well maybe this isn’t such a concern for men), but for the ladies, this is something our candidates ask when making the move to Cayman. Now I would love to be able to tell you that Cayman has a huge TopShop or a John Lewis, but unfortunately it doesn’t… and shopping is probably the main thing, after my family of course, that I miss about home!

Clothing

I would advise anyone who is thinking about making the move to Cayman to stock up on summer clothes and shoes while you can, because whilst you can find these things on the island they may come with a hefty price tag. Some of the best shops on the island are in Camana Bay (sort of an upscale outdoor shopping centre/town), JMichael and various smaller boutiques.

That said, if you do feel the need for a shopping spree, you can take part in a time-tested Caymanian tradition which is heading up to Florida for a long weekend to do some shopping in Miami, Tampa, Ft. Lauderdale or Orlando and get what you’ve been craving.

Duty-Free Shopping

To finish on a positive note, there are some things (jewellery, perfume, designer handbags/sunglasses and some makeup brands) that actually are cheaper in Cayman than back home thanks to duty-free shopping.

Jewellery is an important one for me and my fiancé as we’ve recently been on the hunt for wedding bands, and also what limited make-up you can find on the Island, generally limited to Clinique or MAC, is much better value than in the UK or US.

If you’re looking to make a move to Cayman and need advice on employment opportunities to help you reach this goal, please reach out to a member of our team at info@cml.ky today for a confidential conversation.

5 Things To Do When You Are Rejected From a Job

Thu, 21 Apr 2011 11:22:10 GMT

Being rejected from a job can be unsettling and can plummet your motivation.

No one enjoys being rejected from a job they have worked hard to show their interest in and have likely been sitting with their fingers crossed over. However, it is up to you to keep your head high through the tribulations; rejection is an unfortunate part of the job searching process, so it’s better to learn what to do when you are rejected from a job so you can handle this rejection with grace and learn from it. Here are four things to keep in mind and implement today.

What to do When You Have Been Rejected From a Job

It May Not Have Been You

When hearing “No thanks” or reading “We went with another candidate”, it is easy to take things personally, especially after working hard to impress the masses. Do not take rejection personally. Keep in mind that no matter how qualified you are for a role, you can never know the qualification of your opponents. Receiving a heavy “no” does not mean you failed; it just means your dream job is still waiting for you. Job searching is a journey!

Use Being Rejected to Gain Insight

Being rejected from a job may be discouraging, but what if we told you that you could use this to gain insight? Sometimes, when failure comes knocking, it is a sign of redirection. Whether you are sad or relieved about the outcome, ask yourself these important questions: Would this job have led me to achieve goals? Was there anything I could have done differently in the process (tailored resume, interview prep, networking)?

It is important to channel your energy into self-evaluating. Furthermore, you will have a better sense of direction and a more preferred outcome in the future.

Continue Your Job Search

Do not let the word “no” discourage you from continuing your job search. There are many jobs available in the Cayman Islands that would happily like to take you on as a candidate. CML is one of them! But, it is just a matter of using your goals as a compass and searching in the right places. Quick reminder: Being rejected from a job doesn’t mean you have failed – It means you haven’t found your dream job yet.

Use a Recruitment Agency

Job searching is a journey, but that doesn’t mean you have to walk it alone. CML is here to help! Reach out to our team today at info@cml.ky for a confidential conversation today.

Writing a Meaningful Job Description

Tue, 12 Apr 2011 11:09:17 GMT

What makes a good job description? In our experience, it’s two parts Encyclopedia Britannica , one part secret family recipe and one part Dr. Seuss!

How to Write a Good Job Description

A good job description accomplishes a simple mission; it describes a role accurately while casting the widest possible net to attract all suitably qualified candidates. Creating a job description is something that hiring managers, HR professionals and recruiters do so frequently it’s easy to forget the basic dos and don’ts. On top of that, what candidates are looking for in a position has changed over the past few years and so your job descriptions need to change to match this as well, highlighting what job seekers are looking for currently.

1. Describe the Responsibilities of the Role

This part is the most obvious, but you should cover the basics of what the day-to-day will look like and who they will be reporting to/managing. We would also suggest adding in that little sparkle of “Dr Seuss” we mentioned earlier by explaining the value this role has to the team/organisation and how this person can make a difference.

2. Educational Background & Requisite Qualifications/Experience

Does the position need certain qualifications or educational level to be successful in the role? Be clear on if they are requirements or purely advantageous, as this will help narrow or widen the net of candidates applying. Are you willing to take someone more junior on and train them/support them to achieve the qualifications for the right individual? If so, mention this because again it could widen the net and also showcase your organisation’s willingness to develop its staff.

3. Company Background & Team Culture

People spend a very large amount of time at work, so they generally care about where they work and who they work with because it can make or break the experience. Give a job seeker insight into what it’s like to work in that specific team or organization and what makes your organisation unique. If this is a digital job description and you have employer branding items such as testimonials from current staff, videos about life at your company or anything else showcasing your company culture, this is a great opportunity to link to that right in the job description.

4. Showcase Your Benefits in the Job Description

Now more than ever job seekers care about benefits, so if you have something that sets you apart from your competitors, you should showcase this, especially if the salary is not as competitive. Job seekers are looking for work/life balance, mental health support, child support and things that make them feel like the organization understands they are more than just a cog in a machine to them.

What Not to Do

In my experience, it is easy to end up attracting piles of uninspiring, unqualified, unsuitable applicants. Or worst-case scenario, next to no candidates. Are you attracting the wrong applicants? Here are three things not to do when trying to write a good job description.

1. Adding an Extreme Niche

In the cold light of reality, the job might actually be so specific that there are only a handful of people in the world that could possibly meet the standards. If that is the case though, isn’t the job description pretty much purposeless? What’s needed in this case is a highly targeted, retained search for those few acceptable candidates. Have search consultants speak directly with hiring managers and make a strategic plan to target those individuals; reach out to our team if this is something you think your organisation might need assistance with.

Most of the time though a job description is essential, so remember the point is usually to cast the widest net possible. For example, while the title of ‘Theoretical Interstellar Aeronautical Engineer’ might very well be the most accurate, it probably won’t be effective in generating many applicants. Consider describing a role for a simple theoretical physicist, with some understanding of aeronautics. I’d wager that the latter shows more results.

2. Overly Focusing on Processes

Every job, even the most exciting, will have some less than glamorous processes. Paperwork and administration are a part of everyone’s lives to some degree – even a bounty hunter has to register the people he’s caught. So, if every job has a predictable and unavoidable aspect of tedium, is it really necessary to list them out in great detail? Skip the highly detailed lists of processes and consider simply saying ‘daily administrative tasks in line with role’ or something to that effect.

Of course, there are jobs that actually are focused on administration and paperwork as the core of their job. The job description for these jobs might indeed be a little shall we say ‘process-oriented’? In these cases, consider trying to tilt the tasks towards the results, over the process. So, instead of saying simply “data entry”, “data verification” and “database operation”, you might consider describing ‘creating and maintaining an accurate database used to manage the company’s CSR’. It’s not disingenuous, and certainly more engaging to potential applicants. You can then add in a line about the value that has to the organisation to tie in some of my points from above.

3. Offering a Job with a Dead End

No job is futureless – even the lowliest of positions has somewhere to grow. In the same way that everyone has a boss, everyone has a path to grow in his or her career. Sometimes an otherwise unappealing and unattractive job description can be improved immeasurably simply by indicating that ‘this position can be a springboard to other roles within the organization’. Granted, although that statement, in particular, is a little fluffy, it’s surely better than leaving prospective applicants to think that there’s no possible route to promotion, advancement or alternate opportunities.

Are you currently hiring and need some assistance in finding the right candidates? Get in contact with a member of our recruitment team at info@cml.ky to see how our team can help you build your dream team.

Recruitment Metrics and Tracking What Matters

Tue, 29 Mar 2011 10:11:54 GMT

“We must measure what leads to results, not simply what is easy to measure.” Within every industry, or at least many, we tend to focus on the metrics and numbers to track our performance. As recruiters, we must ask ourselves, what can we measure to ensure that things are being done satisfactorily? Today CML Recruitment will share 3 crucial areas to focus on when tracking your recruitment metrics.

1. Candidates & Volume

Firstly, are your processes and our recruiters generating candidates effectively?

Be sure to track your Candidate Acceptance Ratio? (Candidates ÷ Offers Accepted)
Reflect on the general interest in a given role or department.
Reflect on the resources required to populate a typical candidate pool.
Create a Recruitment Source Breakdown.
Monitor your resources and the resulting applicant volumes.

2. Speed and Process Time

Is the time to fill a candidate’s role or position reasonable?

Weigh the efficiency of attraction.
Track your efficiency after an interview (Lenth of your first interview ÷ Total applicants)
Track the number of interviews per vacancy (Candidates Interviews ÷ Vacancies)
Reflect on the position’s start date (Time from start date ÷ Total applicants)
Weigh the total efficiency of your recruitment processes.
Indicate process quality, candidate quality or understanding of the job specifications.

3. Quality of Processes

Lastly, is recruitment getting the job done?

Track your offer rate for each vacant role (Offers ÷ Candidates Interviewed)
Reflect on your efficiency during the candidate search, sourcing and selection processes.
Track your Offer-Acceptance Rate (Offers Accepted ÷ Offers Extended)
Track your Turnover Rate of new hires (New-hire Terminations ÷ Average Headcount)
Ask yourself – Is the right talent being attracted, assessed and offered? Is time being wasted engaging candidates who have no genuine interest?
Are suitable, well-aligned candidates being hired at the end of the recruitment process?

Furthermore, while candidate and volume, speed and process time, and quality of processes are important areas to focus your energy on, we must never forget the most important metric to track. Satisfaction is, ultimately, the biggest thing to measure in any business!

9th Global Financial Centres Index

Tue, 22 Mar 2011 10:04:41 GMT

Offshore finance professionals may be struck by the opening paragraph of the foreword to the latest Global Financial Centres Index .

“Now is an incredibly important time for the future growth and the competitiveness of the UK as a global financial leader. This is a role that the UK has held for many years, however, with the effects of the recession and some public loss of confidence in financial services, this position is now being challenged by fast developing nations in Asia and the Middle East.”

If Asia and the Middle East are challenging the position of London as a financial centre, one can only imagine how much of a challenge those regions pose to offshore centres, which, the report notes, have suffered a marked and sustained decline in their standing in recent years.

For me, several points stood out from the report.

First, Jersey maintained its position as the world’s top offshore financial centre. Quite an achievement considering that Jersey’s score must suffer significantly as a result of relatively high personal tax rates and lower quality of life compared to competing offshore jurisdictions (the report’s sources include Euromonitor’s “Top Tourism Destinations”).

In fact, Jersey didn’t just come top among offshores, it was also 8th most frequently cited as a centre “likely to become more significant” (See table 2 below) as well as 8th most frequently cited as a location for a future office. [Sorry about the funky image placement, still getting to grips with our new WordPress blog patform!]

Whatever Jersey is doing, it appears to be working.

Also noteworthy is the trend-line that represents the movement in the Cayman Islands’ rating since the rankings began. Any further drop relative to the other major offshores would see Cayman slip into last place.

The Cayman Islands would do well to use the 14 “competitiveness factors” central to the GFCI methodology as a template for reform that might see the jurisdiction regain its competitive edge among OFC’s.

Incidentally, availability of skilled personnel, is the top-ranked “competitiveness factor” in the researchers’ methodology. The Cayman Islands Immigration officials should take note.

Although all the major offshore centres have lost some ground in the index, BVI and the afore-mentioned Jersey have fared better than the others in recent years.

Malta, which many are watching as an up-and-coming OFC, lost significant ground – 4 places and 16 points (Cayman lost 4 places but only 5 points; the Bahamas lost 3 places and 12 points).

It will be interesting to see what regional governments, the media, industry associations and development agencies make of this. We will keep you posted.

Legal Job Market: Xavier Cheng speaks

Tue, 08 Mar 2011 09:59:57 GMT

The thoughts on the Cayman Islands Legal Job Market from our newly promoted Legal Consultant, Xavier Cheng.

Is the Legal Job Market Becoming More Candidate-Driven?

There appears to be an increasing number of dropouts in the market lately. On one hand, recruiters are getting rejections from candidates to accept. On the other hand, clients are puzzled about what is going on. Is there something wrong with their offers? Who should be blamed?

The answer seems to be extremely simple, supply and demand. With the increase of work in the pipeline and headcount budgets, more vacancies are being generated. Quality candidates, the ones that CML work with, are getting multiple offers. With options, there are selections and decision follows. Given the fact that any given lawyer can only be employed by one firm at a time, someone has to suffer from the decision to reject.

In the past months, I have heard complaints from clients where a candidate got counter-offered and backed out from the offer. Also, I have heard stories where a candidate got 4 offers from a recruiter but ending up accepting the 5th one, a simple referral from a family friend who happens to be a Partner as well. The amount of manpower, energy, time and upward clearance to get an offer will be all wasted because of a simple no from a candidate.

So, How Can Our Clients React to the Legal Market?

I remember hearing a client of mine said recently “…you won’t believe it and I don’t believe it myself, but you have wine and dine candidates now….”. To a certain extent, it is very true. Recruitment is getting more personal, a straightforward interview process with rounds and rounds of meetings doesn’t work anymore.

For quality candidates equipped with options and when compensation is no longer a strong differentiator, clients are trying to define their own competitive advantage. It can be a lunch with the potential teammates right after the panel interview or a happy hour gathering promoting teamwork. Interviews are no longer point-to-point contacts, the contact has stretched both horizontally and vertically. The other day I heard of a Corporate Head of Asia having coffee with a 1 PQE Associate the other day just to give a ‘feel’ of how it is like working for him. Does this seem like overkill?

What Should We Do?

For recruiters, time is money. Dropouts are the biggest waste of time and we don’t like it.

In an upmarket like now, there are a lot more speculative candidates in the market, the ones who are just looking and simply want to know how much they are worth. Most recruiters, including myself, are not in the business of fulfilling curiosities. We are here to fill roles and vacancies. With that being said, an excellent way of avoiding dropouts is to be selective with who you work with.

Ask them the difficult questions from the beginning and repeat those questions every now and then. Do everything to make sure that they are truly motivated to move, a candidate without motivation is a placement without a fee.

And yes, just like our clients, we have to get personal with our candidates too. Getting to know them, if you cannot place them in the short run doesn’t imply you cannot place them in the long run. A truly brilliant consultant should have the diplomatic courage to buy his/her dropout candidate dinner and congratulate him/her on his/her new role with a smile.

If all the recruiters are doing the right things, maybe one day, the market can be recruiters driven! Until that day, keep it up!

Learn more about the legal market by reaching out to our team at info@cml.ky today for a confidential conversation.

A Profile of Today’s Job Seeker

Thu, 24 Feb 2011 09:51:55 GMT

From a survey by the UK website SimplyHired.co.uk , several characteristics differentiate today’s job seeker from those of previous decades. Let’s take a deep look at what today’s job seekers are looking for in their career advancements.

Changes in Job Seekers

Many will agree that the average worker has changed their priorities over the past few decades, such as the “job for life” concept, an almost obsolete idea, with many people having 4 or 5 careers in their lifetime.

Similarly, the job seeker, and what they are looking for in a new job have changed. According to the study, 36% say that a work/life balance is the most important consideration when looking for a job, and 68% believe that men should have more family-related work benefits, such as paternity leave and flexible schedules. The survey also shows that people want to work for eco-friendly companies, with 59% interested in a “green” career and 51% find working for an environmentally-responsible company essential.

But whilst today’s job seeker has a few new demands regarding work/life balance and corporate responsibility, they are also willing to make a few concessions to land the right job. 35% of job seekers would consider relocating, and 38% are willing to take a pay cut to avoid redundancy. Of the job seekers polled, 58% were not planning a summer holiday to search for a job.

One of the other major differences today is the methods of job searching available. With the rise of social media and technology, today’s job seekers must be computer literate and understand the power of social media when planning their job hunt strategy. SimplyHired’s survey found that over half of recently hired individuals used social networking in their job search.

Another interesting fact raised by the survey was that 41% of respondents used a recruiter to find their last job. As recruiters, we can see the entire process from both candidate and client perspectives and work on behalf of both to reach a mutually agreeable conclusion.

Looking for a Job?

Let’s find a job best suited for you! Contact a member of our team at info@cml.ky to start your job search today or discover current job vacancies now.

CML at the Cayman Chamber Careers Expo 2011

Mon, 21 Feb 2011 09:44:15 GMT

CML is at the 2011 Cayman Chamber Careers Expo!

The CML Admin and Support Services team and I set out with one important goal in mind; to inspire Cayman’s students and have a little bit of Friday fun. This Chamber Careers Expo gave us the perfect opportunity to introduce CML Recruitment to students and interact with more candidates.

I’m happy to report that we achieved all of the above! Louise Reed, our recruitment consultant, kicked off this Chamber Careers Expo with a Vote of Thanks to the VIPs, sponsors and organisers during the opening ceremony.

From that moment on, Tiffany Morgan, Louise and I were busy interacting and getting to learn more about the students. We also had a handful of job-seekers that were constantly visiting our booth! It was great to see so many people trying to further their careers. We were able to advise them on future career choices, interview skills, resume writing and general job-seeking strategies and provide them with literature to take home and read. (This literature is available from our office for interested individuals, please contact me to find out more)

If you missed us, feel free to contact Lousie Reed for more information.

One of our main goals for this Chamber Careers Expo was to gain an insight into the type of careers today’s students are interested in pursuing. From our study, here are the top 10 occupation interests:

2011 Top Occupation Interests

Accountant
Doctor
Computer Technician
Manager
Lawyer
Immigration Officer
Teacher
HR Manager
Artist
Engineer

We have a feeling that some students visited the Immigration Department booth before visiting ours!

As well as providing career and job-seeking advice, we also encouraged friendly competition between attendees by challenging them to Wii’s Dance Dance Revolution! The dance game happily lightened the mood of the job-seekers who are finding it difficult to get quick results in this challenging job market.

For more information about the Careers Fair, or CML in general, feel free to contact our team at info@cml.ky today!

Don’t Use Up the Goodwill…

Fri, 18 Feb 2011 09:38:45 GMT

Beware the perils of over-negotiating the terms of an offer ….

Occasionally as a recruiter I am surprised at how far a candidate is willing to seek to negotiate the terms of what is ostensibly a fair or good offer made by a firm to the candidate.

Obviously if the candidate is a lawyer then they will realise that this is probably the only time they are going to have an opportunity to have the terms of their employment contract amended in their favour.

At the same time the candidate should remember that once talks with a firm have reached offer stage, the firm is clearly keen to hire the candidate and therefore there is a certain amount of goodwill between the firm and candidate. But such goodwill is not inexhaustible.

If after making what it perceives is a fair or good offer the firm is then presented with a lengthy list of counter-demands, whether relating to salary, holiday provisions, restrictive covenants etc, the firm can begin to suspect that the candidate is also going to be unduly demanding in nature once the candidate starts work with them, especially if the negotiations are not concluded reasonably swiftly and the candidate continues to nit-pick at length over each and every point in issue.

I have more than once in the past had to advise a candidate during negotiations on their behalf that they seriously risked having their offer withdrawn because the firm was beginning to grow exasperated with the candidate’s demands.

Sometimes some lawyers forget the slight difference in nature between negotiating the terms of their own employment contract and negotiating the terms of a commercial contract on behalf of their client with another law firm.

What works in the latter situation is not necessarily appropriate for the former situation, simply because of the different dynamics in the employer/employee relationship.

Coffee, Cake & Careers: A Career Day for Caymanians

Tue, 15 Feb 2011 09:33:09 GMT

CML Offshore Recruitment’s Admin & Support Services Team has revamped its candidate-focused event, Coffee, Cake & Careers, into a Career Day/Open Day! The special event, the first in CML history, was held on Monday 18th January 2011 at the Grand Pavilion Commercial Centre.

*Note, the Admin & Support Services team at CML has since rebranded to Nova Recruitment , please head over to their team for more administrative-based recruitment services.

CML Opportunities for Job Seekers

The turnout for this year’s Coffee, Cake & Career Day was astounding. With over 60 local job seekers in attendance, CML’s professional recruitment consultants were on the frontlines to discuss opportunities ranging from office administration to technical accounting. The consultants also provided insightful resume writing and interview advice to those candidates who were not matched with any available opportunities.

“Although we were busier than we expected, I was very pleased we could meet with so many candidates of all skill levels. Developing the Career Day was certainly a success and we will be hosting it again in Quarter 2 of 2011” commented Recruitment Consultant Louise Reed.

“It was great to see so many people taking the initiative to attend this event, even if the unexpectedly high number is a sad commentary on the scale of the islands’ unemployment problem. The number of attendees was around double that of similar events last year”, commented CEO Steve McIntosh. He added, “Unfortunately we do not have a magic wand that can create jobs or make employers hire candidates most in need. But I hope we were able to help every single person that attended in some way, whether it was by enhancing their resume, tips on interviews, job-seeking strategies, or providing career direction.”

Start Your Success Story

CML’s Coffee, Cake & Careers has produced several extraordinary success stories over the years. CML consultants have placed several Caymanian attendees in positions poised for growth. Additionally, these positions correspond with the candidates’ interests and skills. CML has also matched more experienced candidates with opportunities suited to their unique skills and education.

In 2010, CML successfully placed more than 40 Caymanians in financial services roles in the Cayman Islands. “That is a phenomenal achievement given the economic conditions,” said Mr. McIntosh, crediting the hard work of CML’s Administrative Recruitment team led by Louise Reed. Mr. McIntosh added, “We know we have a special responsibility to help Caymanian job-seekers and we take that role very seriously.”

CML Offshore Recruitment is the Caribbean’s largest offshore recruitment specialist with professional consultants. For more information about upcoming events, or to speak with a CML recruitment consultant, please contact Lousie Reed .

Education vs Experience? Which Do You Need?

Sat, 20 Nov 2010 09:28:35 GMT

You’re looking for a new job; you’ve conducted hours of painstaking research and evaluation only to see an innocuous bullet point on the advert. Degree Required. Can experience make up for the lack of a college degree or does a degree provide something that experience cannot? Is one more valuable than the other?

Why A College Degree?

You’re hiring for a particularly pressing vacancy. The shortlist is of two. A seasoned worker with many years of experience and someone of similar age, less experienced but with a Degree specialized in a relevant subject. Who do you choose?

Manger hiring managers seek candidates with a college degree because it is proof of Academic Intelligence. Additionally, a degree demonstrates mastery of a base level of knowledge and gives a potential employer a ‘degree’ of certainty regarding future performance and progression.

Why Experience?

Proof of experience demonstrates that the candidate has done the job and demonstrates a core understanding of the intricacies of the position.

But what if you couldn’t afford University? Does studying for a degree really make you a stronger candidate than someone without? Don’t the most stereotypical university stories start with, “one night, we were really drunk…”?

This Education vs Experience debate is not limited to a specific industry. In medicine, chances are you’d want a Surgeon with a PhD to operate on you than someone with 10 years of experience utilizing ‘trial and error’ tactics. Similarly, this is the same as travelling via plane. You’d rather have an accredited pilot rather than someone with numerous hours of training but no title.

However, don’t be discouraged! Think of the greatest entrepreneurs of our time – Bill Gates, Richard Branson, Steve Jobs and Michael Dell, there’s not a degree among them.

I’ve drafted more job descriptions, adverts, and vacancy notes and edited more CV’s than I’d care to admit. From observation, a vast majority of candidates possess a college degree. But, does it actually make a difference?

It’s Up To The Hiring Manager

For a Hiring Manager, any hire is a calculated risk. It is no bout surely the ultimate goal is to pick the right person from an experience, education and personality standpoint. Does that mean then that the conclusion is simply ‘it depends’?

In essence, this blog has been ‘chasing its proverbial tail’ trying to argue right and reason, but at the end of the day, what if there is no right or reason. There is no right for a Degree to take precedence over experience or vice versa. However, it is up to the hiring manager to decide whether a degree is their #1 priority.

There are countless victims on both sides. There are many who have invested years of their lives to become educated only to find that they can’t get a job because they’re too inexperienced and those that have worked for countless years only to discover that can’t get a job because they don’t have a degree.

So where do you stand? Does education prevail over experience? Have you experienced this type of prejudice in your job search?

Ultimately, in my opinion, I don’t think there is any right or wrong answer…unless you read between the lines and find a candidate with a combination of experience and a degree, but that defeats the point of the article. Who says that someone with nine years of experience shouldn’t find themselves up against a graduate? Or vice versa.

Surely these people can find a more common sensical scale than that. At the end of the day, even those fresh out of college have to start somewhere. Although their skills and education might well help them rise and progress further, further down the track.

At the end of the day only the hiring manager can decide who’s right for the job and the only way you can be considered is if you have a relevant, tailored CV and interview well in person.

2010 IT Industry Update

Fri, 29 Oct 2010 09:23:29 GMT

IT is a very fast-growing industry, and to our luck, CML is right on the game; here is the latest IT industry offshore update.

What’s Been Happening in the IT Industry

In the past quarter, there has been an increase in IT industry vacancies compared to the first few months of the year. Much of this can be attributed to the fact that even in a downturned economy, investment in IT infrastructure; improved systems and efficient applications can reduce costs and improve efficiency and will ultimately strengthen the core of the company.

The feedback from industry managers is that salaries within the IT industry sector have not been affected as much by the downturn as in other areas in the financial services industry. While bonuses have seen a reduction, at least in the short term, the retention within IT departments has seen an increase throughout 2010 as compared to 2009.

Across the entire IT spectrum in offshore jurisdictions, salaries remain extremely competitive when compared to other financial hubs, and internationally.

With regards to the rest of 2010 and the beginning of 2011, we anticipate a continuing increase in our clients’ IT recruitment requirements regardless of whether the organization retains an in-house IT department or relies on a third-party vendor. There will be a need to improve infrastructure, modernize applications, implement system add-ons and to update core software and hardware. The release of new technologies and product versions (e.g. SharePoint 2010, Windows 7, .NET 4.0) will further increase the requirement to bring the IT function in line with the most recent technology.

IT Jobs in Cayman, Bermuda & BVI

Looking for a job in the IT industry? Luckily, CML Recruitment has seen a surge in IT opportunities in the Cayman Islands, Bermuda and even the British Virgin Islands. Contact our team at info@cml.ky today for more information.

Allied World Confirms Relocation from Bermuda to Geneva

Thu, 21 Oct 2010 09:18:56 GMT

As of 30th September 2010, Allied World Assurance, an integral part of Bermuda’s insurance and reinsurance industry, announced plans to redomesticate (i.e. move corporate headquarters) from Bermuda to Geneva, Switzerland. Plans were subsequently ratified unanimously by the entire Allied World Board of Directors.

The Big Move

Allied World Assurance was formed in 2001 and became an internationally renowned industry leader. Scott Carmilani, President and CEO of the organisation, feels that despite the prestige and reputation of Allied World could be fatal. “We are announcing our proposed redomestication to Switzerland as we believe the time has come to increase our focus on global distribution as well as global product capabilities…This redomestication will allow us better manage our position in local markets around the world and continue to maintain a strong presence in the Bermuda market.”

Approaching its tenth year in operation, Allied World has grown from a single office in Bermuda to 16 worldwide locations. Yet, its global presence is not significant enough to protect its headquarters.

The redomestication is expected to be completed by the end of the 2010 calendar year. However, according to several company executives, senior-level directors who will be relocating immediately will only feel initial impacts. It’s anticipated that further staff impacts will take at least 18 months.

The Aftermath

According to Jason Rhodes and Myles Neligan in the Reuters article ‘ Analysis – Swiss promise lures Bermudan reinsurers’ dated October 8th 2010, Switzerland and other domiciles are starting to threaten Bermuda’s status as Re/Insurance Hub. Worries over U.S. measures to limit Bermuda’s tax advantage and strict new capital rules in Europe are considered to be the main rationale behind this. As a result, Dublin, Luxembourg and Geneva are likely to be the biggest beneficiaries.

This isn’t the first example of an Offshore company leaving its Offshore origins. In May, Amlin relocated its Bermudian-based reinsurance unit to Zurich. Two years ago, Ace redomiciled to Switzerland from the Cayman Islands. Additionally, XL Group moved to Dublin from Grand Cayman, and Flagstone Re switched from Bermuda to Luxembourg.

The Growing Re/Insurance Market

According to Rhodes and Neligan, the growing Re/Insurance market in Europe could be behind plans to redomicile. However, analysts are claiming that the EU’s Solvency II Capital Regime further increases the need to redomicile. On a positive note, Bermuda’s regulator, the Bermuda Monetary Authority, is rushing through plans to implement Solvency II, plans which are likely to be completed by the end of 2010. This is hoped will avoid a potential ‘mass exodus of reinsurers’. At this stage, the Organisation for Economic Cooperation and Development’s latest report suggests that Bermuda is leaving the Cayman Islands behind with its legal and regulatory infrastructure to achieve international tax transparency standards.

The question that still needs to be answered is whether this is a worrying ongoing trend or simply a minor blip to the Offshore Industry. Do Offshore historical hubs like Grand Cayman, Bermuda, British Virgin Islands and the Channel Islands have what it takes to retain businesses and funds or are newer, more fashionable domiciles like Geneva, Luxembourg, or Dublin set to take over?

On a closing note, Sebastien Kafetz, an insurance specialist at Lloyds Banking Group, said ‘I think a gradual erosion is probably true, but it won’t be a big bang. You’re seeing people move their capital to Europe, but as a market place Bermuda has still very much got the cluster effect; people are still growing their operations there.’

Are you searching for a Re/Insurance role in Bermuda or other offshore jurisdictions? CML Recruitment is the place for you – reach out to a member of our team at info@cml.ky today for a confidential conversation.

CML Wins CISHRP Top Employer Award!

Fri, 08 Oct 2010 07:27:58 GMT

CML has won the CISHRP Top Employer Award!

Have you heard of CBS’s new documentary/reality-style programme Undercover Boss? This show highlights a week in the life of a CEO who goes undercover as an entry-level employee. This CEO aims to learn more about his employees, their roles, and if their needs are being met. Additionally, this is a chance to learn how to improve the company’s efficiency and, most importantly, employee satisfaction.

After watching Undercover Boss for the first time, I wondered, could my boss do my job? Or any of the valuable positions in the company. Then I was able to answer my own question – Most definitely! Steve, at one time, was the only recruiter/administrator/marketer/accountant for CML! Furthermore, I broadened my thoughts to Cayman generally, and there are very few bosses here that could go undercover in an exercise like CBS’s. I’m sure recognising our boss would be too easy! But there are still ways to get some of the same information as the TV show…

The CISHRP Top Employer Award

Acting as an “Undercover Boss”, the CISHRP Award highlights the companies in Cayman with the happiest employees. CML Offshore Recruitment is proud to have been the first (and only) recipient of the Top Employer Award in the Small to Medium-sized businesses category.

The CISHRP Top Employer Award gathers information via an impersonal electronic survey. Luckily, there are no cameras following you on your daily tasks! The CML Team is always up and running. This survey collates with other employees’ opinions to provide an overview of how employees perceive the company.

Let’s Hear What the CISHRP Has to Say:

“At the heart of our definition of a ‘Top Employer’ is a place where employees “trust the people they work for, have pride in what they do, and enjoy the people they work with”. CISHRP rates a great working environment based on:

The relationship between employees and management
The relationship between employees and their jobs
The relationship between employees and other employees

The CML team is thankful to have been selected! We have no doubt the recent launch event at the Ritz will stir the business community into action for a fiercer competition this year. Not to worry, CML is bringing our A-game.

Interested in joining our award-winning team? Check out our careers page for current vacancies.

Job Search: How To Get Clear On Your Career Goals

Thu, 07 Oct 2010 07:00:02 GMT

Get Clear On Your Career Goals

People who have succeeded in their professional careers have several key things in common. For starters, they have always had their career goals very clear.

Before you start submitting your CV through job boards or directly sending it to companies, you should think well about your career goals. What kind of positions you are interested in? How do they fit your profile? Not getting clear on your goals will result in applying for irrelevant positions. Additionally, you run the risk of blacklisting yourself from clients and companies for unprofessionalism and in some situations time-wasting. The right position is just around the corner.

Steps To Defining Your Career Goal

Step 1:

Start by writing down your career goals and objectives. Ask yourself: Where am I at in this moment? What position do you want to reach in the long term?

Step 2:

Make a list of the jobs that you think match your profile and define how you would add value to the corresponding department and the company. Divide this list into jobs that match your expectations and jobs that you would no longer consider.

Note: Be honest and realistic with yourself otherwise, this will not have any value. If you still have doubts, ask your colleagues and other people, who know you professionally, for their opinion. The more information you have the better the analysis and the result.

Step 3:

Ensure that you have created a professional and strong CV for each application (You can speak to anyone at CML Recruitment for advice on CV writing tips, Cover Letters and general career guidance).

Note: Follow the application procedures. There are differences between job sites and recruitment companies. Invest time researching the best way to apply for each site and company: If only a CV is needed; or a CV plus cover letter; etc. – What is the difference between a Resume and a CV ?

Use the wide range of search options that job boards search provide to find the positions that suit you best. This will help you clarify your career goals and optimize your search result.

There are differences when applying directly to the hiring company, to a recruiter or when you post your CV on a job board. The key is again to know the procedures you need to follow. They are usually explained on the job advert; if they are not, follow the widely accepted standards (Use the CV that matches best the job description, and use a cover letter when it is possible).

Step 4:

Sit down and read carefully the job advert of interest. Analyze it and study well the function of this position and the key requirements. Does this job match your career goals? Additionally, your CV does not need to perfectly cover everything on the job advert but make sure that the key requirements are met. In your CV, prioritize your experience, or qualifications which add value to your application before you send it.

Note: Do not apply to jobs indiscriminately. Although it might sound obvious, many people do so, as they think that the more applications they send the more responses they will get. In all walks of life it is not about quantity, but about quality!

Step 5:

Tailor your resume to fit each job perfectly. You are going to spend probably a minimum of 8 working hours at your job per day; shouldn’t you invest a good amount of time searching for the right opportunity?

Step 6:

Finally, be patient with your applications. It may take time for HR and recruiters to read and evaluate all the applications they received. It is not necessary to spam them on a daily basis to remind them of your application. Still, a follow-up email or call is enough to confirm that your application is in process, if you do not hear back from them within 24 – 48 hours.

Get Clear On Your Dream Job

CML Recruitment has many opportunities for your career advancement. Need assistance? Contact the CML team at info@cml.ky today for a confidential conversation.

Bermuda Sun highlights ‘labour limbo’

Thu, 23 Sep 2010 06:39:51 GMT

In this excellent article from the Bermuda Sun , James Whittaker exposes the plight of Bermuda’s own middle class, as well as that of low-income expatriates.

Although much of the commentary and analysis could apply equally in the Cayman Islands and BVI, the cost of rent at the high end is not a factor in Cayman or BVI (yet). There are very few companies in Cayman (anymore) for whom “money is no object”. But the real differences are the supply of land in Cayman and BVI, which is relatively abundant compared to near-fully developed Bermuda (the population of Bermuda is 20% higher than Cayman on 1/5 as much land at the time of this article), and the understandably draconian restrictions on construction and property ownership in Bermuda (in Bermuda “mere mortal” expats are not permitted to own property, whereas in Cayman there are no restrictions).

Bermuda trapped in labour limbo?

The article speaks to a divide between the “haves and have-nots” that exists throughout the Caribbean offshore and Bermuda (and to a degree in Hong Kong) where financial professionals (and, thankfully, their service providers) are competing with the best in the world and many others are competing with developing nations for all intents and purposes. This keeps wages high in financial services (because professional ex-pats expect a premium to relocate halfway around the world) and low in many other lines of work (because many other ex-pats are glad to be earning any amount in solid currency in a stable and safe western economy).

Is this solely a ‘Bermuda’ issue?

Although this tension exists in many G20 nations, most notably the United States where Mexican immigrants are vilified for “taking American’s jobs”, there are differences.

For starters, the immigration of cheap labour is state-sponsored in Cayman, Bermuda and BVI, whereas most of the very lowest-paid workers in the US and Europe are likely to be in the country illegally, which allows unscrupulous employers to flout minimum wage laws. This creates more public angst in offshore communities who rightly expect the government to address the imbalance through regulation or enforcement activity.

The ironic benefit

The irony, if such a word in this context is not distasteful, is that it is the local community that benefits from the cheap labour provided. Domestic help is a prime example. How many Caymanians and Bermudians are able to pull in two good salaries because of the high disparity between the second income and the cost of childcare? How many local business owners benefit from the low cost of payroll? And to the extent, the savings are passed on to consumers (they are not always), how much more would residents pay for goods and services if not for those willingly subsidising them by their squalid living standards.

This is precisely why local politicians are loath to set a minimum wage that might address the issue or clamp down on squalid living standards (which in Cayman at least are effectively illegal when sanctioned by employers).

It is frequently pointed out that squalor is a relative term. Nobody forces anyone to emigrate to the Cayman Islands or Bermuda and nobody dictates the standard of accommodation they should obtain when they arrive. People at all levels of the social spectrum come here for one reason: they are better off. But there are two good reasons authorities ought to be more concerned with such immigrants’ standard of living.

First, many low-income immigrants choose to live in squalor to send their savings home to families in developing countries. This is a drain on the local economy.
Second, the willingness of immigrants to live in sub-standard accommodation is an indirect means of disenfranchisement for local workers who do not and should not expect to live this way.

Employers know full well how much a person needs to earn to get by in the Cayman Islands or Bermuda and full well when an employee makes less than that. They should not turn a blind eye to the living conditions of their workers. Neither should the authorities.

How To Give Better Positive Feedback!

Wed, 22 Sep 2010 06:31:36 GMT

Don’t ever underestimate the power of positive feedback!

How often do we criticize, berate and chastise someone for making a mistake, no matter how trivial or inconsequential? Hopefully, not very often. On the flip side, how often do we acknowledge someone for doing something right? I’m proud to say it’s quite often here at CML Recruitment . Many find it easy to compliment someone at an office dress down than it is participating in a ‘high five – whooping session’.

Giving positive feedback can be a powerful tool for employers, employees, and new recruits as it contributes to a more efficient work environment. Don’t know how to give positive feedback – here are 8 great ways to start.

8 Tips For Giving Great Positive Feedback

1. Start Today

Positive feedback is too important to let slide. If you believe your feedback can help someone, say it immediately and as soon as the deed is done.

2. Make It Public

While negative feedback should be given privately, positive feedback should be given publicly. Why? Giving positive feedback in front of a crowd can motivate other members of your team to give feedback as well. This leads to better communication and an active work environment.

3. Be Specific

As tempting as it would be to say “Good job, Dave.” Instead say something like “Dave, that new application you developed for ‘straight-through transaction processing’ has really improved our efficiency and financial wastage. Thanks for coming up with it.”

4. Make A Big Deal Out Of It

You don’t want to assemble the entire company every time you give positive feedback; as it will get old and cheapen the achievement. An alternative would be to express your positive feedback during scheduled team meetings and make it special.

5. Consider The Receiver

It is important to consider the feeling of the person receiving the recognition. For a very shy person, thanking them in front of their workgroup is probably most appropriate. For another person, possibly even just an email or Microsoft teams message will suffice. You know your team (or I sure hope you do!), so do what feels right for the individual receiving the feedback.

6. Do It Often

Who says positive feedback has to be only given on special occasions? Don’t wait for the big successes. Get into the routine of celebrating the small victories too.

7. Make It Even

Big successes need big recognition; small successes need smaller recognition. If you throw a party for every small success, you diminish its effect on a big success.

8. Be Sincere

When giving positive feedback, keep it fresh and sincere. It wouldn’t be wise to praise someone for coming in on time or for just doing their job. Other team members will see right through you. Positive feedback creates the most impact when you are sincere.

As a leader/manager/employer, it’s important to give positive feedback as it helps to build a stronger and more engaged team – we hope these tips can help get you started! If you’re looking for more tips on how to strengthen the engagement of your staff, reach out to our team today at info@cml.ky for a personalized HR consultation and we’ll see how we can help you take your team or business to the next level.

Rent or Buy: The Foreseeable Future for Landlords

Mon, 06 Sep 2010 06:24:47 GMT

Now, I’d like to caveat this blog post by stating that I am neither a real estate expert nor a personal finance expert. Writing this blog is a bit like Kim Lund writing a blog on the employment market. However, as a resident of the Cayman Islands, I’d like to share my insight on whether you should rent or buy in the Cayman Islands.

To Rent or To Buy

The flow of Cayman’s real estate/living market has been an occurring dinner party conversation, but I’ve always felt ill-equipped to discuss it without the aid of a spreadsheet. Tempting as it is, I’m sure it’s really inappropriate to interject with, “hold on, I’ll just grab my laptop and bring up Excel”. With that being said, it probably wouldn’t come as much of a surprise that I don’t get invited to many dinner parties.

The Cayman Islands is an island with many financial services professionals. Yet, there seems to be a stubborn misconception that paying a hefty mortgage is better than renting a home. Surprisingly, many believe that renting is simply “throwing money away”. This is an excellent example of conventional wisdom, which is often nothing more than a widely-held fallacy. Is mortgage interest any less “thrown away” than rent? Nothing burns through a stack of money faster than 7% stamp duty if throwing money away is your thing.

There is a handy shortcut to considering whether To Rent or To Buy – Are landlords generally making money or losing money? The landlord/tenant relationship is a zero-sum game; the more they are making, the less of a good deal you are getting as a tenant. That’s pretty obvious.

Renting From Experience

As my family recently outgrew our two-bed condo, after considering buying for some time, my wife and I opted to rent a larger place. This allowed us to rent out our old home, which we had purchased back in 2006. Therefore, I can tell you from personal experience that landlords in the two-bed condo market are not making money.

In the Cayman Islands, rent has fallen precipitously in 18 months. Most landlords that bought in the previous 3-4 years are struggling to cover their mortgages alone. And let’s not mention other significant costs such as maintenance and strata fees. (For the overseas reader, a strata is a cooperative which looks after common interests for owners in an apartment or townhouse complex. Paying Strata fees monthly, including insurance, landscaping, cable TV and some maintenance). Rents have come down by between 10 and 30%—great news for renters.

The Foreseeable Future For Landlord

Worse still for landlords, I don’t believe we’ve reached the bottom. The reason is a case study in micro-economics. There has been a well-publicised reduction in the number of work permit holders on the island. Reports vary, but possibly as many as 5,000 last year (mostly in construction and hospitality; financial services only have 2,000 work permit holders). In terms of population, add non-working partners and dependents to that 5,000. Then consider that even 5,000 people would have meant at least 2,000 homes.

Add to that the ongoing development of 2 and 3 bed town-home complexes, and you get a picture of significant over-supply in this market segment. If there are even 5% more condos than renters looking for them, that 5% will constantly reduce their price to compete with each other and occupied units and set the market rates in the process. The value of the unit is almost irrelevant. Any amount of rent is better than none, which is what 5% of landlords will have at any one time.

This dynamic is also putting downward pressure on home values. Eventually, a landlord will decide that renting at a loss isn’t worth it and put the property up for sale. Of course, if selling would also mean making a loss (which is likely to be for buyers in the last 3-4 years), it will come down to the relative size of the losses and the landlord’s expectations for the future.

Upholding Supply and Demand

Thankfully, many great Caymanian landlords own a property outright. This prevents them from flooding the sale market, but it does mean they can afford to drop rents to maintain occupancy? Whether the situation for landlords improves depends on two things: economic performance (and the effect on population) and movement in inventory (i.e. new condo developments).

In terms of inventory, there is always a lag between the supply and demand conditions and the pace of development. Residential development projects surely take three and five years to be planned and designed, which means that many projects will be well advanced in the future – too advanced for the developer to slam on the brakes.

A peculiarity of the Cayman real estate market is that new homes are nearly always cheaper than used homes, as buyers can avoid stamp duty on new homes by taking title to the land before the home is built and thus paying stamp duty for the land alone. This is a loophole that needs to be closed. The value of the land on a CI$2-300,000 apartment is peanuts. This is costing the government some much-needed revenue. Still, it is also fuelling over-supply conditions in the real estate market by acting as a government subsidy on new condos. At the same time, there are few signs that the economy will improve dramatically enough to plug the 5,000 person strong hole in the population.

Therefore, the outlook for landlords is, in my opinion, bleak. That means rents will drop further, and therefore so will sale prices. Furthermore, needless to say, my family and I will be renting for the foreseeable future.

Looking to relocate to the Cayman Islands? Read our Cost of Living in the Cayman Islands Guide.

The Rat Race: Ambition & Picking Winners

Wed, 01 Sep 2010 06:14:48 GMT

I recently came across this old Time magazine article about the psychology of ambition . (It’s a long read for an online piece if you’re like me you spend enough hours staring at a screen each day but worth a read if you can make it through.

I’ve often pondered what drives some people to work like Trojans and others to just shrug their shoulders and plod on, and secretly envied the blissful apathy of the latter. For me, there are two sides to ambition.

The Two Sides of Ambition

The first is about reconciling your earnings with your lifestyle expectations. In a sense, this ought to be a sort of definition of achieving happiness – being able to afford to live the life you want to live. I think this is why twin studies, according to the Time article I mentioned above, found a relatively weak familial component to ambition. Being a high-performing professional or executive is mostly about applying good judgment and solving problems. A smart person will work hard continuously, demonstrate good judgment and stand out from the crowd enough to achieve great things. But a really smart person will realise that it’s much easier to lower your expectations than to increase your earnings. The former will live to work, the latter will work to live. Both can be happy and successful, they just have different definitions of the terms.
The second side is competitiveness. To some, business is a game with a score kept in money. If there’s one quality I look for in CML candidates to join the team, it’s competitiveness, but it can’t be a win-at-all-costs mentality: It has to be combined with respect for the rules of the game and an ability to succeed in a team. To have the best company, you have to find people who want to be the best player in the best team in the best company and consider every customer the judge.

“It’s a funny thing about life; if you refuse to accept anything but the best, you very often get it”. William Somerset Maugham

If you’re ambitious and looking for a new adventure in your career, reach out to our team today at info@cml.ky and let’s chat about how we can help you achieve your goals.

Offshore Legal Market Update – Cayman, BVI, Bermuda

Thu, 29 Jul 2010 05:57:20 GMT

The current state of the offshore legal market in the Cayman Islands, BVI, Bermuda, and the Chanel Islands could perhaps best be described as gentle. It seems BVI and Bermuda are experiencing longer ill-effects from the recession than Cayman. However, a steady trickle of hires occurs at the leading players in the Channel Islands, particularly in Guernsey.

Offshore Issues

Candidates with training and post-qualification experience from London’s top 10 or top 20 law firms continue to hold the strongest attraction for these larger offshore law firms.

The relative scarcity of vacancies and the surplus of suitable candidates have created intense job competition. With many good candidates, London’s law firms are spoilt for choice. This means the recruitment process has taken longer than expected. But who can blame? There are so many great candidates.

It would not be unrealistic to say that the standard to be reached for securing a job at a large offshore firm at the moment, certainly out here in the Caribbean, is akin to trying to secure a position at a top 10 London law firm. Litigation jobs, understandably, continue to crop up with relative frequency while banking, corporate, funds, and trusts jobs remain, on the whole, thin on the ground.

Salaries in the Cayman Islands continue to remain very competitive with the island’s top firms but with the apparent advantage of there being no income tax. Furthermore, whether the offshore legal market will pick up significantly or decline again continues to depend almost entirely on the speed of the global economic recovery.

Related to Offshore Jurisdictions

Are you seeking to relocate to the Cayman Islands, BVI and other offshore jurisdictions? CML make it easy! Learn more about the offshore legal market and how you can elevate your career by contacting Graham Blyth at Grahamn.blyth@cml.ky.

Relocating to the Cayman Islands: Could it be done?

Tue, 19 Jan 2010 05:28:45 GMT

Is relocating to island paradise actually possible? Take it from me first-hand, it is and if you have the opportunity to do it yourself, take it!

“Wandering through an imitation of an imitation of a place they wanted to go to”, wrote Lawrence Osborne in his book The Naked Tourist.

Like many of us, I spent years travelling to exotic tourist destinations and sat in a bar with my husband talking about what a dream come true it would be to live there. In reality, we didn’t stand a chance of experiencing the dream by just passing through exclusive hotels.

Relocating: My New Priority

Let me take you back to a cold September morning in 2009. I was one and a half hours into my daily commute, in my car, heating on full, wearing Ugg boots and three pairs of socks. The windscreen wipers were moving so fast they were making me dizzy. I thought to myself, “my job is amazing but could it be done somewhere else?” There must be somewhere in the world that would be pleased to see an accountant and recruitment consultant in their arrivals lounge?

Shortly after, the decision was made and relocating became the priority; to start a new adventure, a new chapter in our lives and find a new wardrobe for my shoes!

A Glimmer of Hope in the Caribbean

Like any professional, my career is an extremely important part of my life and not something I could sacrifice, even for paradise. After researching the Caribbean I came across the Cayman Islands, the 5th largest financial centre in the world, and a perfect fit for any professional seeking a better quality of life.

With its year-round sunshine, miles of beach and tax-free living, I just had to get there, and if Christopher Columbus could find it in a sinking ship surely I could be shipwrecked on Seven Mile Beach myself by 2010?

The Hard Part of Relocating

The toughest part of leaving was telling our families and being met with expressions similar to those of 11 years previously when waving goodbye to my Mum from the university halls of residence. After the promise of constant photographs, the introduction of Skype to our family, and the guarantee of free holidays all year round they soon came round to the idea of a daughter/sister overseas.

So it was with the help of the fantastic consultants at CML Offshore Recruitment, the pilots at British Airways and some imaginative packing of (far too many) shoes and handbags that we landed 26 days ahead of target on the 5th December 2009, eager to see what this fabulous country had to offer.

If you too are considering relocating offshore (or are already here and are looking for a new position!), I would encourage you to reach out to the team here at CML and see how they can advise you further – reach out today at info@cml.ky for a confidential conversation.

Caribbean Winter: Brr! It’s cold here!

Tue, 12 Jan 2010 04:57:41 GMT

Caribbean winter is a real thing, but for anyone outside of the Caribbean, you’d think we’d lost our minds as it’s barely below 70°F!

The recent cold snap that the entire world seems to be experiencing has left the residents of Cayman, including myself, shivering and wondering has it ever been this cold here before? I can remember when we were kids living here taking full advantage of any cool breeze or Nor’wester to wear our heavy sweaters and jackets to school! This past week I’ve been looking for closed-toe shoes and long-sleeved tops to wear to work as well as ensuring I have my wind jacket in the car, which is totally different from what we normally experience.

Cayman, and most of the Caribbean, can only really boast two seasons, Wet and Dry, so generally speaking, it’s hot – all the time. And although we’re whining that it’s cold here at the moment, we know that 66 °F isn’t that cold, we’re just enjoying the change and feeling of ‘Caribbean winter’. The coldest temperature ever recorded in the Cayman Islands was on February 11th 1968 at 52 °F! That converts to about 11.11 °C.

On behalf of all of the shivering complainers in the Cayman Islands to the populations of Europe and North America experiencing one of the coldest winters ever, I apologise for our thoughtlessness, but you can’t blame us for avoiding a real winter – it’s one of the reasons we live here!

If you think you’re ready for a change of scenery and want to embrace this warmer Caribbean winter lifestyle, request a consultation with one of our recruiters today!

Craig Wright, G7 Wrong: Recession Outlook

Thu, 10 Dec 2009 05:06:24 GMT

Yesterday was the Chamber of Commerce Quarterly Luncheon at the Marriot Hotel on Seven Mile Beach. The guest speaker was Craig Wright, Chief Economist at the Royal Bank of Canada. Wright delivered a pitch-perfect speech for around 20 minutes summarising the factors leading to, and hopefully from, the global financial crisis and subsequent recession, barely pausing for breath and with nary a note on the podium. If I were Joe 90 , this guy would be right at the top of my kidnap list.

Global financial crisis/recession outlook

His comments on the global economy were no surprise to any regular reader of The Economist. *** SPOILER ALERT*** All the G7 economies have all managed to pull themselves back into positive growth with the exception of one laggard: the UK, which is expected to join them in Q4 2009. The recovery will be slow and US-led.

What is the outlook for Cayman?

Although the congregation maintained a respectful hush throughout his speech, even the forks stopped clanking when Wright reached his forecast for the Cayman Islands specifically. A couple of points were noteworthy.

First, the G7 countries, facing unprecedented budget deficits, will be scratching around for every last penny of potential tax revenue. With a top marginal rate of income tax of 61% in the UK, any company with a nebulous or portable product or service (i.e. financial services and e-commerce) is likely to give at least some thought to offshoring at least some of their operation.
Second, the popular backlash against the financial services industry is likely to manifest in tighter and farther-reaching regulations on all kinds of financial products, services, companies and practices. Again, this represents an opportunity for offshore financial centres to capitalise. To back this up, The Economist recently eviscerated an effort by the European Union to introduce restrictions on the pay of Hedge Fund and Private Equity Managers (via an addendum to the Alternative Investment Fund Management directive). The proposed directive would discourage risk-taking (in Hedge Funds? Really?) and mandate that up to 60% of managers’ pay be earned on a deferred basis.

So the question is, how much sand do you need to have kicked in your face before you fold up your deck chair and get off the beach?

11 IT Skills You Need On Your Resume

Fri, 13 Sep 2002 08:57:31 GMT

Are you an IT professional looking to further your career in Cayman? In this blog, we’re sharing 11 IT skills you need on your resume to wow Cayman’s IT hiring managers so you can land your dream job in paradise.

What IT Skills Are Hiring Managers Looking For?

1 . Software Programming and Application Development

Approximately 70% of all companies looking to hire IT professionals in Cayman right now are specifically seeking candidates with programming or application development skills, specifically those with .NET experience, so if you’re looking to develop an IT career in Cayman, this is something to keep in mind.

2 . Project Management IT Skills

Many hiring managers offshore and in the Cayman Islands have added project management to their skill list. Many businesses embark on multiple IT projects each year, especially in the legal field, therefore, hiring managers tend to seek candidates capable of taking on these more significant projects. The projects might include – Web and Mobile Initiatives, System Enhancements, Improvements, Implementations, and application refreshes.

3 . IT Help Desk/Technical Support

With the release of new technology and frequent software updates, companies undoubtedly need a helping hand (especially if you cannot keep up on the latest tech drops.) For companies to move swiftly, many IT Hiring Managers in the Cayman Islands seek high-priority help desk and technical support skills.

4 . Networking

Networking skills are another area constantly in demand by IT hiring managers in Cayman. These jobs are often considered the hardest to fill, as networking is closely linked to virtualisation; It is essential to find someone who can connect/convert non-virtual environments into virtual environments.

5. Cyber Security IT Skills

N0 scammers here! Hiring managers are seeking a candidate with valuable security skills. These skills include expertise in identity and access management, threat and vulnerability assessment, encryption, data loss prevention, incident analysis skills, governance, compliance and auditing, biometrics, safeguards for IP systems and e-discovery support for litigation.

6. Data Center

Strategic thinking is a crucial skill found amongst many of Cayman’s top IT employees. Data Center skills include things such as safety security, backup, disaster recovery, and data support – which also go hand in hand with cyber security skill

7. Web

IT workers with next-generation Web skills have been sought after repeatedly throughout the years. Many hiring managers tend to seek candidates with expertise in Adobe, AJAX, JavaScript, JavaScript Object Notation and more. With many companies turning to increase their online presence, there will be a need for web/mobile product growth and Internet Marketing Optimisation however it is worth noting that this is not as large of an area in demand in Cayman currently.

8. Telecommunications

Unified communication skills are becoming a big hit in the IT game. Candidates who are able to design infrastructures that integrate communication tools will be sought after. Including, instant messaging, IP telephony, remote access, printers, and servers.

9. Business Intelligence IT Skills

More employees mean more data growth; As IT departments look for ways to contribute to the company’s profitability, business intelligence skills will be ramped up. SAP, Microsoft, Cognos, Informatica, etc will be largely sought-after suites of products.

10. Collaboration Architecture

Collaboration architecture expertise is high on many lists of hot skills. IT hiring managers are constantly looking to boost customer interactions and build aesthetics on end-user experiences.

11. Business Acumen and Communication IT Skills

While not stated in job titles and descriptions, business acumen and the ability to communicate technical concepts are a necessity for IT Hiring Managers. These skills will come hand in hand with your business intelligence and telecommunication skills.

Do you possess some or all of these skills? If so, reach out to Claire Murray for a confidential conversation today and let’s see how we can help you take your career to new shores!

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Immigration Framework is Changing on 1 May 2026—Here’s What’s New

The main updates to work permits, fees, compliance obligations, and mobility, with practical implications for Cayman businesses.

At This Stage:

Practical Implication:

We recommend that employers:

Stay Informed and Reach Out

Cayman Islands: Proposed Immigration Fee Changes

A breakdown of proposed fee increases, annual obligations, and their implications for employers and residents in the Cayman Islands.

Key Cat ﻿ egories

What this means in practice:

Stay in the Know

Solving the 'Talent Gap': Process, Experience, and Unique Expertise

Solving the 'Talent Gap': Process, Experience, and Unique Expertise

The CML Advantage:

The HR Manager’s Secret Weapon: Moving from Survival Mode to Strategy

The HR Manager’s Secret Weapon: Moving from Survival Mode to Strategy

Support that Strengthens, Not Replaces

You Don’t Have to Do This Alone:

Smart Scaling: Why Growth Shouldn’t Mean More Overhead

Smart Scaling: Why Growth Shouldn’t Mean More Overhead

Growth is a good problem... until it slows you down

Growth Should Feel Lighter, Not Heavier

When Is It Time to Outsource HR and Payroll?

When Is It Time to Outsource HR and Payroll?

What to Consider as Your Organisation Grows

Why HR and Payroll Feel the Pressure First

As organisations scale, we commonly see:

Key Signals It May Be Time to Outsource HR and Payroll

Outsourcing HR Is a Strategic Decision, Not a Cost Shortcut

Why More Cayman Businesses Are Choosing Outsourced HR Support

Outsourced HR and payroll support provides:

A Question Every CEO & Business Owner Should Ask ﻿

Ask-Me-Anything on Proposed Cayman Islands Work Permit Changes

Ask-Me-Anything on Proposed Cayman Islands Work Permit Changes

Why we Hosted This AMA?

Meet the experts

Watch the Full AMA Session

Questions we answered

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Need Help? That’s What We’re Here For

Holding Permanent Residency in the Cayman Islands? Here’s What You Need to Know to Stay Compliant

Holding Permanent Residency in the Cayman Islands?

Here’s What You Need to Know to Stay Compliant.

Annual Declarations and Fees — Due Every Year on Your Permanent residency Anniversary

Only Work in the Role Approved in Your PR Certificate

Know Your Conditions — and Protect Your Permanent residency

Need Help? That’s What We’re Here For

HAVEN'T GOT PR, BUT NEARING YOUR TERM LIMIT?

When should I apply for Cayman Islands Permanent Residency?

Is it time to consider applying for PR?

Cayman Islands Immigration Timeline

when should I come in for a consultation/engage cml's PR services?

Tips for New Hiring Managers: Conducting Effective Interviews

Before the Interview:

Prepare Thoroughly

During the Interview

1. let the candidate talk

2. Build Rapport

3. Guide the Conversation

5. USE THE “SWAN FORMULA”

5. LOOK FOR ADDITIONAL QUALITIES

6. LISTEN FOR INTELLIGENT QUESTIONS

A Look at How Companies Embrace DEI

Empowering Diversity: Our Journey Towards an Inclusive Workplace

Before we get started, it is essential to know the definition of these terms:

What Companies Are Doing to Promote Inclusivity

Diverse Hiring Practices

Inclusive Leadership Training

Employee Resource Groups (ERGs):

Flexible Working Arrangements:

Inclusive Policies and Benefits:

What Companies Should Be Doing to Be Inclusive

Continuous Education and Awareness:

Actively Combat Unconscious Bias:

Measure and Report on DEI Goals:

Encourage Allyship and Advocacy:

LISTEN TO EMPLOYEE FEEDBACK:

How Do I Learn More About a Potential Employer’s DEI Commitment?

Ask About Their Commitment in Interview

Key Cat egories

A Question Every CEO & Business Owner Should Ask