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Edmund Bain plans for success

No matter how successful someone becomes in financial services, there is a beginning point that is always comparatively humbler than the lofty heights that may be reached. Moving into a new year, the”Face”of the industry being featured belongs to 23-year-old Edmund Bain, a young professional setting off on his career journey into financial services.

“One of the biggest lessons[of my matriculation]is that a lot of times good things in life, things worth while, don’t necessarily come easy,”Bain said.”Especially having worked full time and also two years schooling full-time. There were times when you really had to bite the bullet and persevere.”

Bain graduated from the College of the Bahamas with Distinction in April of this year, achieving a bachelor’s degree in accounting. To receive the distinction honor a graduation candidate must have an average cumulative GPA of 3.5 or higher. Bain plans to sit the first two parts of the CPA exam in April of next year, and if successful the following two parts in November.

Since June of this year, Bain has been employed at FirstCaribbean(Bahamas)Limited’s Sandyport Branch as a customer care officer. His primary work responsibilities include dealing with customer concerns and queries, growing the portfolio for the branch, and extending credit facilities for new and existing clients.

It is important to be attentive to clients, Bain has learned, and said his strategy for growing the bank’s portfolio is to target current clientele and probe them to find what bank services would help to meet their changing needs. He has also learned the importance of networking with clients to explore ways to add their friends and family to the bank’s customer base.

Bain has a plan for the future, and though he enjoys his work at FirstCaribbean, he has an entrepreneurial spirit and plans to head his own business in the future.

“My medium to long term goal is to eventually develop my own professional services company,”Bain said.”Being in the accounting arena, after I would have obtained my CPA and practiced in one of the public firms, and also having five years experience in commercial banking, I want to build on that, pool on my knowledge and resources to open a business–my wife and I–and take it from there.”

From his vantage today, Bain said the business he is planning to start would be a consultancy firm with a focus on process engineering to maximize efficiency, implementation of internal controls for risk management, and to a lesser extent bookkeeping and accounting services.

Bain was the recipient of the Bahamas Financial Services Board’s Student of the Year Award for 2010. Among the criteria for eligibility, Bain had to submit an essay. He wrote on the leadership traits necessary to further develop the financial services sector in The Bahamas. Saying that he sought to be frank and present his own thoughts on the subject, rather than those of others, Bain said he focused on the need for dynamic, innovative leadership.

“I was honored and privileged to be recognized,”Bain said of the award.”It reinforced to me that as long as you work hard, apply yourself and remained determined, good things can happen for you.”

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