The number of young people taking part in a scheme designed to given them a taste of working in finance has more than doubled over the past two years

The goal of Jersey Finance’s ‘Life in Finance’ gives local Year 12 students an opportunity to undertake a one or two-week work experience placement over the summer break.

This year, 62 students signed up to undertake placements in one of 30 participating financial services firms.

Sectors across the island have been hit by the “bean drain” – with the population of residents in their 20s and 30s declining by 7% between 2017 and 2023.

JFSC director general Jill Britton recently told Connect that it was a challenge for both industry and the regulator itself, which had in turn decided to work on growing its own staff through a partnership with University College Jersey.

Joe Moynihan, Chief Executive Officer, Jersey Finance, said the ‘Life in Finance’ scheme offered a way of addressing industry concerns about its future workforce.

“One of the most consistent conversations we have with our member firms is around securing the future of our industry by attracting new talented individuals to join their teams,” he explained.

“Our Life in Finance initiative is one of the ways we seek to address that need – it gives local young people an opportunity to get an idea of what a career in financial services can look like, and it also provides firms with a chance to meet potential employees of the future.

“We know of a number of instances where students who have taken part in Life in Finance have gone on to secure employment with their work experience firm, so it’s a fantastic platform – and I’m pleased that it continues to grow, with even more local students taking part this summer,” he added.

Who took part?

Firms taking part this year included Affinity Private Wealth, Alex Picot Trust, Alter Domus (Jersey) Limited, Aztec Group, Baker Tilly Channel Islands, Barclays, BDO Limited, BNP Paribas, Crestbridge Family Office Services, CSC, Equiom, Gen II, Grant Thornton Limited, HSBC Bank plc – Jersey Branch, KPMG in the Crown Dependencies, Langham Hall Fund Management (Jersey) Limited, Maples Group, Oakbridge, Oakglen Wealth, Ocorian, Ogier, Project Accountants Ltd, PwC, R&H Fund Services (Jersey) Limited, Rossborough, RBS International and RSM Channel Islands.