The introduction of financial capability qualifications at an island school has been hailed a ’tremendous success.’

Ballakermeen High School led the way introducing the course to its sixth form.

And head teacher Adrienne Burnett said: ’The introduction of financial capability qualifications at Ballakermeen has been a tremendous success because it isn’t teachers talking about finance, it isn’t theoretical, this is real world training, using industry standard qualifications, delivered by key members from the Manx finance sector.

’And I am delighted that our young people have attained a 100% pass rate (first two modules at this time) with a qualification which at the very least has given them an understanding of how to manage money - an essential life skill.

’At best, it will prepare them to enter the workplace, better prepared and qualified for a career in the finance sector.’

News of the success was relayed to the annual meeting of the Isle of Man branch of the London Institute of Banking & Finance (LIBF).

LIBF acts as the training and professional development arm for the local banking community as well as wider finance sector colleagues.

Adrienne Burnett, who was speaking at the bankers dinner added at the time: ’A scheme which began modestly with 25 students has attracted great interest from other island schools.

’I promise in future years our students will be actively seeking employment opportunities, well prepared, well qualified and with a wealth of real-world expertise.

’We are proud to have been the pioneers for this scheme, and we look forward to working in partnership with you in future initiatives, to benefit the industry, the island, and most importantly our young people.’

At the annual meeting Mark Waterhouse was re-appointed as president, Colin Peters as vice president, Jason Cochrane as secretary and Nick Preskey as treasurer.

Other committee members include Peter Reid, Phil O’Shea, Emma Kniveton, Stewart Berrie, Ian Hamilton, Martin Ibanez and Dougie Elliott.

In his annual report, Mr Waterhouse highlighted that there are now 265 registrations for LIBF qualifications with 63 passes in the retail banking conduct of business qualification, 25 passes in the certificate in business banking and conduct qualification and three passes in the certpay qualification.

In addition, 16 of these successful students have gone on to complete the diploma in either the retail or business banking qualification.

Many of the students achieved merits or distinctions in their subject passes and the new graduates from last year celebrated their success at a ceremony hosted in the Barrule Suite, Tynwald Buildings.

Successful graduates were awarded scrolls by Chief Minister Howard Quayle.

Also supporting the event was the Enterprise minister, Laurence Skelly and LIBF’s relationship director, Rob Thompson.

Mr Waterhouse wished personally to congratulate all the successful students and wish them the very best in their future careers.

He noted that all the banks supporting these qualifications are beginning to recognise the hard work and success when considering appointments and promotions going forward.

He added it was pleasing to see that many students are now going on to take the higher qualifications provided by the LIBF and strongly recommended everyone considers doing the same, as these internationally recognised qualifications will provide them with excellent skills and knowledge helping their careers further.

He was pleased that members of the local committee have continued to lead by example in this respect with Stewart Berrie, Colin Peters, Jason Cochrane and Emma Kniveton now successfully qualified to at least diploma level.

Mr. Waterhouse highlighted the positive events that had been organised by the committee. These included the annual question time panel event in May.

The panel comprised Carl Hawker, deputy chief executive, from the Department for Enterprise, Courtenay Heading, founder of Jurby Wellness, Charlie Woolnough, owner of Quorum Partners Ltd and Robin Bromley-Martin, Port Evolution and Development. Their varied background, vast experience of business and their willingness to provide forthright views made this one of the best events held for some time according to the feedback received.

LIBF also held its annual prestige lecture delivered by Professor Peter Hahn, Dean and Henry Grunfeld professor of banking, responsible for academic leadership at the LIBF.

Both the above events were very well attended by the finance community on the island.

Finally, Mr Waterhouse wished to record the committee’s congratulations to Phil O’Shea, who has been appointed as a trustee and member of the LIBF board of governors.

This appointment was very well deserved and recognises the tremendous contribution Phil has made on our committee to the education successes mentioned above.

Local branch of the London Institute of Banking and Finance. Mark Waterhouse, president, right, and Colin Peters, vice president