National Pensions Office and CFA Society Offer Ethics Training

The National Pensions Office of the Department of Labour and Pensions (DLP) will host a free training session on ethical decision-making on Monday, 20 April 2015.

Working through the Chartered Financial Analyst (CFA) Society’s Cayman Chapter, pension officials have organised a seminar for individuals who administer and regulate locally registered pension plans. The speaker will be Director of Ethics and International Standards, at the CFA Institute, Michael McMillan, CFA, PhD.

Mr McMillan will lead an interactive presentation on the roles, contributions, competencies, duties and potential conflicts faced by local private sector pensions trustees, administrators, supervisors and related staff.

He has a MBA from Stanford and a doctorate in accounting and finance from George Washington University. In addition he has taught at Johns Hopkins and George Washington Universities.

Earlier this month DLP Director and Superintendent of Pensions Mario Ebanks invited local multi-employer and single-employer pension plan trustees, administrators, and staff to the training.

Noting that there are presently 15 locally administered pension plans registered under the National Pensions Law, Mr Ebanks stated: “I am delighted that this world-class trainer and speaker has agreed to share his perspective with our local professionals. I am sure that pension plan trustees, and other administrative stakeholders, will gain much from this training opportunity, which will clarify their roles and improve their governance competencies.”

President of the CFA Society Cayman Islands Monique Frederick explained that the society promotes education and professional development among financial services professionals.

“We particularly strive to encourage a high standard of ethics and the shared belief that our work should always benefit society. Obviously this approach is particularly important in an area like the pensions sector, which has such a widespread impact on the community” Ms Frederick commented.

Additional information on registration or attendance is available from the department at tel. 945-8960. (GIS)

Photo: As provided

Michael McMillan, PhD, will lead a course on ethics for the local pensions sector.