Fundamentals of the Financial Services Sector

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About JIFS


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Understanding the operations of the financial services sector is an important step in developing the essential basic knowledge required for working in the industry.

This workshop was developed by JIFS executive committee to ensure that employees of the sector are familiar with the intricacies in order to be more effective in the performance of their duties.

Who should attend

  • Current employees who are new to the sector – various levels
  • Persons who would like to pursue a career in the financial sector
  • Anyone who would like to have a better understanding of the sector: such as vendors.­

Workshop Outline

This programme will provide new and aspiring employees of the financial services sector with basic knowledge and skills to facilitate the process of orientation.

At the end of this program, participants will become:

  • More familiar with operations of the financial services sector.
  • Better equipped in carrying out their day-to-day functions.
  • Overview of the financial services sector
  1. Commercial Banks
  2. Building Societies
  3. Trust and Merchant Banks
  4. Investment Houses
  5. Insurance Companies
  • Supervision and Compliance
  • Basic products and services offered by the financial services sector.
  1. Current and Savings account
  2. Loans
  3. Investment Accounts
  4. E-Services
  • Local & International Payment System
  1. Banking Transaction
  2. The Jamaican Clearing System
  3. The US Clearing System
  4. International Transactions
  • Quality Customer Service in the Financial Sector
  • Know Your Customer
  1. Foreign Account Tax Compliance act (FATCA) Regulations

Facilitator – Patricia Hamilton


 Mrs. Patricia Hamilton, has a wide range of lending and recoveries experience spanning the Corporate, Small Medium Enterprises (SMEs) and Consumer/Retail sectors, having spent most of her banking career with National Commercial Bank (Jamaica) Ltd.

A graduate of the University of the West Indies, St. Augustine, Trinidad, she is also a chartered banker, having gained her Associate Degree from the Chartered Institute of Bankers (London), along with receiving highly specialized training in Corporate Restructuring & Advanced Credit Appraisal Techniques, from Manchester Business School, United Kingdom/NCB Jamaica Ltd.

Pat also spent over ten years working in the Eastern Caribbean as Chief Executive Officer of Caribbean Association of Banks (CAB) Inc. and Regional Credit Consultant for Courts Furnishers PLC. There she further honed her understanding of the credit retailing business and developed her debt collection skills, having also received intensive training in Debt Collection Techniques through Cohen & Klein, USA. Under her stewardship and guidance, Courts Dominica won both the Credit Championship and the Credit Manager Awards and her portfolios in Barbados, Saint Lucia and St, Vincent & the Grenadines experienced significant improvements.

She currently offers training & consulting services and has facilitated in-house training sessions and regional seminars aimed at transferring those skills.

She has done a lot of work with the SME sector in collaboration with several Banks and Credit Unions across the Caribbean/CARICOM Region including Caribbean Development Bank (CDB), the International Labour Organisation (ILO) and the MSME Alliance.

Given the cultural diversity of the countries across the region, Pat developed her coaching and facilitation skills and became certified as a Transformational Coach (Crane Consulting) and facilitator (Growth Facilitators), thus enabling her to impact and influence the transfer of the knowledge and skills being taught.