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


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

IBAF NEWS NEWSDecember Vol: 45



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


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.


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.


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













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


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


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.


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)


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



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


Ms. Rosalie Campbell

Mr. Sterling Frost

Ms. Karen Yip Chuck

Mrs. Nola Drayton-Smith

Mr. Dave Ramsumair

Mr. Gary Awai

Ms. Heather Alexis-Huggins



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


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.


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


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.


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)


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.


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


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


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


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



Examination Period: May 10th - 14th, 2010

Registration Deadline: March 26th, 2010

Examination Period: Nov 8th - 12th, 2010

Registration Deadline: September 17th, 2009



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


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.

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