IBF - dec09.cdr - The Institute of Banking and Finance Of Trinidad ...

IBAF NEWS NEWSDecember Vol: 45
INSTITUTE OF BANKING AND FINANCE OF TRINIDAD & TOBAGO
2009
Graduation 2009
The Institute of Banking and Finance of Trinidad and Tobago (IBAF) held its Annual Graduation Ceremony at Premier Quality Services
Auditorium, Trinidad and Tobago Bureau of Standards on July 04th 2009.
Of the one hundred and twelve [112] student members who were honoured, one hundred and eight [108] completed the Certificate for
Financial Advisors Programme, one [1] graduate who completed the Diploma in Banking Programme and three [3] others attained the
Certificate Level of the Diploma in Banking Programme.
Feature Address
This was delivered by Ms. Sharon Christopher - Deputy Chief Executive Officer - CorporateAdministration of First Citizens Bank Limited.
Ms. Christopher spoke on the topic “Ethics in the Financial Industry” and began her address by referring to the role of Gordon Gekho
played by Michael Douglas in the movie “Wall Street” in which he declared that “greed is good”. She focused on the current financial crisis
both globally and locally, outlining the main cause of the crisis and the role ethics or the lack thereof played in the crisis. We were all asked
to question ourselves with respect to our actions as they relate to our obligations in our working environment. She highlighted the
following:
Ms Christopher advised that there is work to be done as the ideas of the individual must be aligned with the ethics of the Company and this
necessitates real reform. This means that companies should refocus efforts from profits, budgets, bonuses, billings and media spin and
focus on the way people are treated, how the organization creates opportunities and how
everyone finds meaning in their work.
Graduation
List of Graduates
Tribute – Yvonne Tenia
AGM - New Council
Workshops 2009
Workshops 2010
The need for reform in the Financial Industry.
The need to have senior executives play an active role in this reform.
The need to set personal examples of commitment and integrity and to adhere to the highest ethical standards.
The need to be prepared to make decisions that get to the heart of what is right and wrong.
TABLE OF CONTENTS
Students Corner
Studying Tips
IBAF’S Library
Registration & Exam Deadline Dates
IBAF Website
What’s Next?
Editor: Elizabeth Fox
Design & Layout: Media Print Ltd.
IBAF Mailing Address
Trinidad Guardian Bldg, (3rd Floor)
22-24 St. Vincent Street, Port of Spain
P.O. Box 1259, Port of Spain.
Tel: 627-2231 / 623-3601
Fax: 627-2218
E-mail: ibaf@carib-link.net
Website: www.ibaf.org.tt
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Valedictorians
Sharon Williams and Camille Ramkalawan-Seepersad both remarked on the relevance of
the Institute’s courses to both their personal and professional lives. On behalf of the
graduates, they praised the Institute for the support and encouragement that they received
over their years of study.
Fellowship Awards
Fellowship Awards were presented to four [4] persons for their contributions to the Institute
and/or the Banking and Finance Sector. These individuals are:
Mr. Edward Henry Sealy
Contribution to the development of the Banking and Finance Industry in Trinidad rinidad and Tobago
Mr. David Dulal-Whiteway
Contribution to the development of Banking in Trinidad and Tobago
Mr. Richard P. Young
Contribution to the development of Banking in Trinidad and Tobago obago
Mr. Roy Stephen Allum Poon
Contribution to the Institute of Banking and Finance of Trinidad and Tobago obago
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Graduation 2009 (continued)
Trinidad and Tobago Unit Trust Corporation graduates of the
Certificate for Financial Advisors Programme with Mrs. Amber Rondon,
V.P. Human Resources and Ms. Joanne Thomas, Asst. V.P. Human
Resources.
First Citizens Bank Limited graduates of the Certificate for Financial
Advisors Programme with Ms. Sharon Christopher - Deputy Chief
Executive Officer Corporate Administration and Mrs. Joel Ann
Cook-Walcott, Snr. Manager Recruitment and Development.
Republic Bank Limited graduates of the Certificate in Banking and
Certificate for Financial Advisors Programmes with their C.E.O.,
Mr. David Dulal-Whiteway.
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Scotiabank Trinidad and Tobago Limited graduates of the Certificate for
Financial Advisors Programme with their Managing Director,
Mr. Richard P. Young.
Diploma in Banking graduate - Ms. Sharon Williams from The Central Bank
of Trinidad and Tobago and Certificate in Banking graduate, Mr. Shane
Samodee from First Caribbean International Bank (Trinidad and Tobago)
Ltd.
Fellowship Awardees: From right Mr. Richard P.Young, Mr. David
Dulal-Whiteway and Mr. Roy Stephen Allum Poon, (missing from photo
Mr. Edward Henry Sealy).

2009 Graduates
Certificate For Financial Advisors
Janelle Benjamin First Citizens Bank Ltd
Denise Britton First Citizens Bank Ltd
Nicole Diaz First Citizens Bank Ltd
Riad Gajadhar First Citizens Bank Ltd
Kimling Gobin First Citizens Bank Ltd
Dwayne Harris-John First Citizens Bank Ltd
Karimah Joseph First Citizens Bank Ltd
Theresa Joseph First Citizens Bank Ltd
Geeta Joseph-Nanan First Citizens Bank Ltd
Jiselle Julien First Citizens Bank Ltd
Hammond Khan First Citizens Bank Ltd
Magdalene Kissoon First Citizens Bank Ltd
Debra Lendor-Grant First Citizens Bank Ltd
Kumarie Mahadeo-Persad First Citizens Bank Ltd
Sherma Mangray First Citizens Bank Ltd
Michelle Pacheco First Citizens Bank Ltd
Sandie Persad-Victor First Citizens Bank Ltd
Alana Phillip First Citizens Bank Ltd
Erica Pierre First Citizens Bank Ltd
Karina Pierre First Citizens Bank Ltd
Marva Pollard-Gill First Citizens Bank Ltd
Adeline Quamina First Citizens Bank Ltd
Aneil Ramsamooj First Citizens Bank Ltd
Angela Reece First Citizens Bank Ltd
Enell Satnarine First Citizens Bank Ltd
Karen Sealey First Citizens Bank Ltd
Anushka Seesaran First Citizens Bank Ltd
Alan Siu Kwan Hang First Citizens Bank Ltd
Vicky Sookdeosingh First Citizens Bank Ltd
Francesca Walters First Citizens Bank Ltd
Kareen Williams First Citizens Bank Ltd
Certificate Level - Diploma in Banking Programme
Vanessa Francis Republic Bank Ltd.
Sally Ramsubhag First Citizens Bank Ltd
Shane Samodee First Caribbean International Bank (T& T) Ltd
Diploma In Banking
Sharon Williams Central Bank of Trinidad and Tobago
Joanne Ali Republic Bank Ltd
Valarie Aqui Republic Bank Ltd
Nydra Babal-Ramdeo Republic Bank Ltd
Wayne Benny Persad Republic Bank Ltd
Stacy Bess-Collins Republic Bank Ltd
Melissa Boodhan Republic Bank Ltd
Lystra Boodram-Nowrang Republic Bank Ltd
Hyacinth Boyce Republic Bank Ltd
Parbatie Chin Cheong Republic Bank Ltd
Charmaine Dopson Republic Bank Ltd
Radha DinDin-Rampersad Republic Bank Ltd
Nerissa Doodhai-Ramdeen Republic Bank Ltd
AnnamariaEugene Republic Bank Ltd
Laverne Evelyn Republic Bank Ltd
Pulbassie Ganness Republic Bank Ltd
Keino Gibson Republic Bank Ltd
Ryan Hannays Republic Bank Ltd
Marc Harris Republic Bank Ltd
Gregory Hercules Republic Bank Ltd
Goomatie Jagai Republic Bank Ltd
Sonia Jugmohunsingh Republic Bank Ltd
Sandy Julien-Williams Republic Bank Ltd
Ingrid Lee Republic Bank Ltd
Debra London Republic Bank Ltd
Christopher Ma Kuan Republic Bank Ltd
Sattee Mahase-Ahmed Republic Bank Ltd
Kerry-Ann Mahon Republic Bank Ltd
Wendy Lois Maunday Republic Bank Ltd
Marsha Mendez Republic Bank Ltd
Estella Mc Call Republic Bank Ltd
Ann McGuire Bertrand Republic Bank Ltd
Sheldon McLean Republic Bank Ltd
Rasheeda Mohammed Republic Bank Ltd
Kaveeta Persad-Bachan Republic Bank Ltd
Karen Peru Republic Bank Ltd
Donna Quash-Boxhill Republic Bank Ltd
Claudine Ragbir Republic Bank Ltd
Sheryl-Ann Ragoobarsingh Republic Bank Ltd
Vinoo Ramdhanie Republic Bank Ltd
Vanessa Ramdial-Charles Republic Bank Ltd
Denise Tricia Ramnath Republic Bank Ltd
Paul Sanchez Republic Bank Ltd
Gayatri Seejattan-Bridgelal Republic Bank Ltd
Colin Seemungal Republic Bank Ltd
Sally Sinanan-Seepersad Republic Bank Ltd
Vydanand Singh Republic Bank Ltd
Angela Sookhai Republic Bank Ltd
Debra Taylor Republic Bank Ltd
Camille Ramkalawan- Republic Bank Ltd
Seepersad
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Anastasia Achaiba Scotiabank T&T Limited
Sally Ali Scotiabank T&T Limited
Roshni Beharrylal Scotiabank T&T Limited
Everald Sheldon Bobb Scotiabank T&T Limited
Jessica Chin Scotiabank T&T Limited
Shazim Mohammed Scotiabank T&T Limited
Lana Mc Lean Scotiabank T&T Limited
Avalon Nelson Scotiabank T&T Limited
Cindy Seemungal-Ramsaran Scotiabank T&T Limited
Dianne Singh Scotiabank T&T Limited
Reshma Toll Scotiabank T&T Limited
Gregory Torres Scotiabank T&T Limited
Fellowship Awards
Mr. Edward Henry Sealy
Nilma Campbell Stewart T&T Unit Trust Corporation
Mera Deonarine T&T Unit Trust Corporation
Dawn E. Francois-Cupidore T&T Unit Trust Corporation
Gizelle Gomez T&T Unit Trust Corporation
Lesley Sharon Hutton T&T Unit Trust Corporation
Andrea Jeffers T&T Unit Trust Corporation
Sarika Khan-Sookram T&T Unit Trust Corporation
Janelle Lezama T&T Unit Trust Corporation
Melanie Samantha Phillips T&T Unit Trust Corporation
Marsha Ramasray T&T Unit Trust Corporation
Reshma Rangoo T&T Unit Trust Corporation
Masika Sealey-Ali T&T Unit Trust Corporation
Paula Stewart T&T Unit Trust Corporation
Marcia Theophilus T&T Unit Trust Corporation
Virginia Mendez RBTT Bank Ltd
June-Ann Brandt Global Financial Brokers Limited
Contribution to the development of the Banking and Finance Industry in Trinidad and Tobago
Mr. David Dulal-Whiteway
Contribution to the development of Banking in Trinidad and Tobago
Mr. Richard P. Young
Contribution to the development of Banking in Trinidad and Tobago
Mr. Roy Stephen Allum Poon
Contribution to the Institute of Banking and Finance of Trinidad and Tobago

Tribute - Yvonne Tenia
AGM - New Council
Council Member
Mr. Mark Carmino President
Mr. Josef Baptiste Vice President
Ms. Charmaine Caballero
Mr. Shiva Manraj
Mr. Raymond Smith
Mr. Harigobin Jhinkoo
Ms. Donna Fyfe
Mr. Errol Simms
Yvonne Lauren Alicia Tenia
August 10th 1976 - August 9th, 2009
“Living life to the fullest”
Yvonne was born to Alden and Edmie Friday on the 10th day of August 1976, and was
diagnosed with sickle cell anemia one year later. In her early childhood, she underwent
several blood transfusions, and at least one surgery, but this did not deter Yvonne from
living life to its fullest.
Yvonne loved life and was very popular among her classmates and teachers, and had
many friends. She was outgoing, friendly, charming and very beautiful, on the inside
and out. From childhood Yvonne developed a close relationship with God and always
nurtured her spirituality. She gave passion to every aspect of her life, and this was true
also of her career.
Yvonne has been a member of the Banking family since June 1st, 1995, and whilst there, she embraced the responsibilities of
Shop Steward and Union Executive with wholehearted drive and compassion. When she retired from this world, Yvonne left as
a Supervisor I Credit/Securities (Grade 4) at the Corporate & Commercial Business Centre, Republic Bank Limited in Tobago.
Having attained the Certificate Level in the Institute of Banking and Finance DIB Examinations, she was one module away from
attaining her Diploma.
Yvonne was not afraid of a challenge, and was both talented and versatile. Yvonne leaves to mourn her husband Sean and son
Shaundell, and will be deeply missed by friends and family. She was very family oriented and made every member of her family
feel vital to her. Her voice, smile and undaunting spirit will be missed by all who were close to or knew Yvonne, even in the
smallest way. Yvonne was a great friend, a wonderful wife and mother, a loving and dependable daughter and an amazing
sister and aunt, who is…irreplaceable. Rest in peace, Yvonne.
These members were duly elected as Directors of the Council for the period 2009-2010
Alternate
Ms. Rosalie Campbell
Mr. Sterling Frost
Ms. Karen Yip Chuck
Mrs. Nola Drayton-Smith
Mr. Dave Ramsumair
Mr. Gary Awai
Ms. Heather Alexis-Huggins
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Bank
RBTT Bank Limited
Citibank T&T Limited
Republic Bank Limited
First Citizens Bank Limited
Scotiabank T&T Limited
Intercommercial Bank Limited
Central Bank of Trinidad and Tobago
UWI, St. Augustine

Workshops 2009
The Institute conducted several well attended workshops throughout this year. We would like to thank all participants for their attendance
and look forward to another year of successful workshops.
Report Writing for Investigators / Security Personnel -
presenter Darrin Carmichael
The New Financial Institutions Act - presenter
Mrs. Donna Fyfe
Interviewing Techniques to Detect Fraudulent
Behavior - presenter Darrin Carmichael
The Golden Years - Planning for Successful
Retirement - presenters
Dr. Jean Griffith , Garth Thomas &
Dr. Ahamah Rahmad
Establishing an Effective Audit Committee - presenter
Rabindradath Lackhan
Effective Internal Auditing of State Enterprises -
presenter Rabindradath Lackhan
Credit Analysis Techniques - presenters
Prakash Ramlakhan & Jwala Rambarran
Retirement Planning - presenters
Dr. Patricia Elder, Ms. Elizabeth Austin and Mr. Leslie
Mohammed
In-House Training Workshops
Workshop Recap
Topic Outline
Topics presented for workshops can be adapted for in-house training purposes.
This course explored a number of effective investigative report writing
techniques that apply across a wide range of disciplines including major
incident reporting.
This training program was designed for compliance, legal and operations
personnel within the Financial Services Sector.
This workshop provided participants with a working insight into the planning,
preparing and conducting of an investigative interview.
Participants were provided with an appreciation of the psychological
adjustment to retirement; they were also introduced to various skills to cope
with the changes and challenges associated with retirement. Participants
were also introduced to the economic dynamics of retirement and the
relationship between income and capital and the methods used to critically
evaluate investment options available and appraise their risk/return ratios.
This workshop addressed the following: Governance, Composition of an
Audit Committee, Appointment of Committee Members and Responsibilities
and Duties.
The purpose of this workshop was to provide auditors and members of
independent Audit Committees with the knowledge and skills necessary to
establish effective policies and procedures.
This two-day training program enabled participants to examine the issues
involved in credit to retail, small business and commercial borrowers.
Participants were provided with the tools to successfully adjust to retirement.
They learned skills to cope with the changes and challenges associated with
retirement; gained an understanding of economic dynamics of retirement and
the relationship between income and capital. Participants also understood
how to critically evaluate investment options available and appraise their
risk/return ratios.
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Upcoming Workshops 2010
The Workshop Schedule for 2010 will be provided in a subsequent news bulletin.
Studying Tips
Listed below are strategies to improve your study habits and study
methods.
Study in Short, Frequent Sessions.
It has been proven that short bursts of concentration repeated
frequently are much more effective than one long session. So, even
if you only have 10 minutes, DO IT. Take a break. Then study
another 10 minutes. This “distributed learning” approach is highly
efficient because it honors the way the brain likes to work. The brain
needs recovery and recharging time for “protein synthesis.” The
rest periods are when your brain assimilates your effort. This is a
powerful tool which many teachers do not acknowledge. To sit and
study for hours and hours is not only boring; it creates fatigue,
stress, and distraction. You cannot learn if you are fatigued,
stressed, and distracted!
Take Guilt-Free Days of Rest.
This follows the same principle as above, but on a longer, daily time
cycle. The reason for resting is to refresh oneself. However, if you
feel guilty (“I really should be studying”) then your precious rest
period has been used to create more stress. The brain will not
absorb new data if it is stressed. On days off from studying, really
enjoy yourself and do not feel bad about not studying.
Honor Your Emotional State.
Do not study if you are tired, angry, distracted, or in a hurry. When
the brain is relaxed, it is like a sponge and it naturally absorbs data
without effort. If you are emotionally stressed, your brain literally
repels data. Forcing yourself to sit and study when your mind is on
other things is a complete waste of time!
Review the Same Day.
When you learn something new, try to go over the points the same
day. If you wait a few days and then make efforts to review the
material, it will seem much less familiar. However, a quick review
later in the day will tend to cement the information into your brain so
that the next “official” study session, you will recognize it and it will
seem easy.
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Observe the Natural Learning Sequence.
Think of the activities you did when you were in nursery school.
Using your whole arm, you probably performed the song that goes:
“Put your right hand in, Put your right hand out.” Then, in
kindergarten, using your hand, you might have been asked to draw
lines or circles with crayons. Later, in first grade, now holding the
pencil with your fingers, you drew smaller lines and circles to
create letters. Believe it or not, this natural learning sequence,
moving from large to small, coarse to fine, still remains effective
even though we are now older. When you study, if you try first to
grasp the big picture and then fill in the details, you often have a
more likely chance of success.
Use Exaggeration.
Why does a baseball batter warm up by swinging two or three
bats? Why do runners sometimes strap lead weights to their legs?
In both cases, exaggeration during practice makes the final result
seem easy. This concept can be applied to studying anything. For
example, if you are studying spelling, exaggerate the sound of the
letters to help to remember them. So for studying purposes,
“naive” would be pronounced “NAY-IVY.” By getting used to this
exaggerated pronunciation, the correct spelling seems obvious.
Prepare Your Study Environment.
If you require certain elements in your environment to help you
study, try to always make these a priority. For example, do you
need special lighting, silence, music, privacy, available snacks,
etc.? Pay attention to what works for you and repeat it each time
you study for best success.
Respect “Brain Fade.”
It is normal for the brain to have an attrition rate and to forget
things. This does not mean that you are stupid! Instead of getting
mad about this fact, you should expect it and deal with it
accordingly. See your brain as depositing layers of knowledge. As
you place more information on top, the lower levels become older
and less available to your immediate recall. The trick here is simply
to review. Since we can anticipate the eventual fading of our
memory, creating a review aspect to our study session will solve
the problem. Once every two or three study sessions, simply

Studying Tips (continued)
review older material that you will still need to remember. Often, a quick overview is sufficient. Sometimes, a complete detailed study
session of the older material is required. “Brain fade” is completely normal. (Unless you are gifted with a photographic memory, which is
extremely rare.)
Create a Study Routine.
Generally, if you schedule certain times of the day to study, you will get into a routine and accomplish more. If you just “fit it in” during your
day, chances are that there will never be any time. An effective way to do this is to literally mark it down in your date book calendar as if you
have an appointment, like going to the doctor. For example: “Tuesday 3 - 4:30 P.M. — Study.”
Set Reasonable Goals.
One of the main reasons people do not reach their goals is because they set them too high. If you set goals that are manageable, even if
they seem too simple, you get in the habit of accomplishing them and gradually you can set higher goals. Also, recognize the difference
between long-term and short-term goals. Set your vision on the long-term dream, but your day-to-day activity should be focused
exclusively on the short-term, enabling steps.
Avoid the Frustration Enemy.
Ironically, the quicker the person’s nervous system, the faster they learn. Yet, this fast nervous system also works overtime in being selfcritical.
So they are the ones who always think they aren’t going fast enough! In contrast, the “Type B,” less intense person who learns
slower yet is more self-accepting, ends up ultimately learning the material in a shorter period of time. This is because he/she doesn’t
waste energy blocking, getting upset, and thinking that they’re not good enough — they simply keep moving forward at a slower (but unblocked)
pace.
Article by Howard Richman of Sound Feelings Publishing, Tarzana, California.
IBAF’s Library
Books for Sale, Rental and Repurchase
The Institute has a number of texts for sale for both the Diploma in
Banking and the Certificate for Financial Advisors Programmes.
For students pursuing the Cert.FA Paper 1, The Institute has available
the “Principles of Managerial Finance” by Lawrence J. Gitman, San
Diego State University. This text is extremely helpful for the Time
Value of Money Section.
We also operate a book rental service whereby students can rent text
books applicable to their course of study. The cost to rent a text book is
$300.00 with a minimum period of 2 ½ months. Books are rented on
the understanding that they are returned in good condition, failing
which the student will be responsible for paying the full cost of the
textbook as per signed rental agreement. Please note that books are
loaned on “a first come first served basis”.
The Institute will be willing to repurchase
current text books that are in good
condition from students who have
completed their course of study.
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Additional Reference Materials
The following reference books that are helpful with the various study
modules are available and can be borrowed from The Institute’s
Library.
Accounting for Banking Students by J.R. Edwards / M.J. Mellett 4th Edition
Company Accounts by Maurice Pendlebury / Roger Groves 4th Edition
Financial Planning-Fundamentals CFP- Education program Course 1 2nd
Edition
Information Technology CFSP - Study Text by Phillip Fawcett AICB
Lending CFSP- Study Text by Robert Souster FCIB
Marketing, Sales & Customer Services by Neil Russell- Jones 2nd Edition
Management of Information Technology by Phil Fawcett & Graham Flower
The Monetary& Financial System by David Goacher 5TH Edition
The Financial Environment by David Bridgehouse & Janet Honitor
Understanding Accounts by F.A.J. Couldery 2nd Edition
We encourage all to utilise our library services.

Students Corner
Examination Dates
&
Registration Deadlines
CERTIFICATE FOR FINANCIAL ADVISORS
Examination Date: April 17th, 2010
Registration Deadline: January 22nd, 2010
Examination Date: August 14th, 2010
Registration Deadline: May 21, 2010
Examination Date: December 4th, 2010
Registration Deadline: September 23rd, 2010
N.B. EXAMINATIONS ARE HELD ON SATURDAYS ONLY
DIPLOMA IN BANKING
Examination Period: May 10th - 14th, 2010
Registration Deadline: March 26th, 2010
Examination Period: Nov 8th - 12th, 2010
Registration Deadline: September 17th, 2009
N.B. EXAMINATIONS ARE HELD MONDAY - FRIDAY
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IBAF’s Website: www.ibaf.org.tt
We have upgraded our system and have advised students of their
new passwords which will allow access to the website to obtain
their examination results.
New students will be provided with their passwords in their
membership acceptance letters. We would like to remind all
students that it is their responsibility to protect their passwords
safely.
Our website continues to provide a wealth of information including,
our programmes’ prospectus, registration forms and brochures, as
well as, information on upcoming workshops, seminars and
resource links to The Central Bank of Trinidad and Tobago along
with all the commercial banks.
We urge all students to utilize the Central Bank of Trinidad and
Tobago website as it provides information which could be used in
the preparation for exam.
What’s next?
The Institute is at present in the process
of expanding the Cert FA F A Programme to
include optional modules in Mutual Funds
and Securities.
Stay tuned for more on this.