The question of the Bermuda Talent pool is one which frequently comes up in conversations with Digital Asset Businesses looking to develop a presence in Bermuda.
Companies planning to make Bermuda a hub for their international operations need to know what sort of talent is available in order to fine tune their business plans and satisfy the regulator that they are building a presence with real substance.
Sometimes Bermuda gets criticised unfairly. “There’s no talent for FinTech companies” people will say, meaning that there are comparatively few software engineers on island.
Our Tech talent pipeline
While Bermuda is always going to suffer when compared to somewhere like New York or London, it’s important to note that engineering talent does exist and organisations like Connectech and the Technology Leadership Forum have been fostering young Bermudian tech talent for several years and their efforts are starting to compound with 5-10 Bermudians graduating from their program each year from 2009!
This good work by the Private Sector in Bermuda has been supplemented by targeted efforts being run by the Ministry of Economic Development within the Government of Bermuda, who are passionate about developing talent within the jurisdiction and preparing Bermudians to participate in new opportunities as the working landscape evolves.
5,500+ well qualified professionals
It is, however, very important to remember that “Tech” is literally only 50% of “FinTech” and that while Tech acts as an enabler, all successful businesses rely on innovation in terms of their business models, as well as a solid operational platform and strong sales and marketing to allow them to deliver value to their customers.
On this side of things the Talent Equation looks a good deal rosier. We have identified 5,500+ well qualified professionals residing in Bermuda who have significant experience across the following core capabilities:
- Operations
- Legal & Compliance
- Finance & Accounting
- Business Development, Sales & Marketing
- Media and Communications
- Product and Program Management
- Consulting
- Human Resource Management
Supporting innovation and growth
The reason that the number is so large is that Bermuda has always been a globally significant hub for key markets like (Re)Insurance, especially innovative areas of this world like Insurance Linked Securities and Climate Risk Finance. The Bermuda Business Development Agency has played a key role in developing connections between Bermuda businesses and for helping attract new innovation to the island, which in turn increases the on-island talent pool.
Finally, let us not forget that the whole reason that Bermuda has been able to provide regulatory certainty to companies who are pushing financial boundaries in the Digital Assets arena is because we have an regulator in the form of the Bermuda Monetary Authority who understands how to do this safely and credibly. Their highly effective approach enables financial markets of all types to evolve more broadly and this constant evolution generates growth in the talent market.
So if you’re thinking about fishing in the Bermuda Talent Pool and growing your in island presence we say “jump on in – the water’s lovely!”
We will continue to discuss Bermuda’s unique growing FinTech and InsurTech ecosystem in future blog posts. If you’d like to share thoughts or ask us questions please reach out to info@y.partners
