Contact Jul / Aug 17

T H E

C H A N N E L

I S L A N D S

B U S I N E S S

Jim

M A G A Z I N E

July / August 2017

Roberts Time, money and ideas

TECH TALK

THE CHARITABLE SECTOR

TOGETHER IS BETTER

We learn about life as a business analyst in our regular IT and technology column

We speak to Jim Roberts about Guernsey Community Foundation’s role in strengthening the third sector

Richard Digard looks at the islands’ respective financial plans and their surprisingly similar objectives

Local legal services in Guernsey and Jersey Business and commercial law Competition law Dispute resolution Employment law Offshore relocations Planning and environment law Property and construction law Regulatory law Trusts Advisory Group Wills, probate and estate planning

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WELCOME TO THE JULY EDITION OF CONTACT

When calling the snap UK general election back in April, Theresa May cannot have thought it possible that just a few short weeks later we would be on the receiving end of a hung parliament. The blame for this disastrous result (for the Conservatives) must lie squarely at the door of Mrs May herself.

The hot weather has been terrific news, indeed at times it has felt like Guernsey has been dropped into the Mediterranean. The big news in June was voters speaking in the UK, and the pollsters were slightly better at forecasting Teresa May's minority government. It would be fair to say Guernsey has not been the only place to feel the heat recently.

A fundamental misjudgement of the UK's pulse coupled with a certain amount of hubris has led to the humiliation of Theresa May's Conservative party and celebrations from the Labour Party that you could mistake for those of victory.

Voters respond very quickly to small changes in temperature and tone coming from senior leadership. Guernsey is not immune to the need for direction, openness and engagement. These are key qualities for first rate leadership, and to date we have delivered on this. Our small community offers a direct channel to all our political movers and shakers, making Guernsey a unique, stable jurisdiction for business. In Chamber, we have received good feedback from local business receiving enquiries from industries looking for a 'safe pair of hands' in the world, a place which offers political and financial stability in times of higher political stress. If you are considering your business strategy, Guernsey, indeed all of the Channel Islands, should be in your orbit.

So what can we learn locally about the upset across the water as we move towards our own general election in May 2018?

The election was more polarised than many in the recent past.

Votes moved significantly from the outlying parties to the Conservative and Labour parties. Jersey will find that more difficult as we do not (yet) have party politics.

Jeremy Corbyn focused specifically on younger voters, leading to what was a good turnout from them. If last year's by-election is any sort of bellweather (19%) then much work will need to be done to engage and enthuse voters during the run-up to the general election in Jersey.

Theresa May's campaign came across as detached from the general feeling of the electorate and seemed to have an assumed outcome from the start. Mrs May's lack of attendance at the televised debate and her taking swipes at the more senior voters who have traditionally been staunch Conservative voters were on the list of campaigning errors. Mr Corbyn seemed to connect much better with a wide cross section of the electorate which resulted in higher turnouts and ultimately a number of seats that even Labour was surprised at winning.

It is important that, at our own general election next May, those willing to give the next four years of their life to serving in our public office, connect with the electorate. Chamber's call to action is that we are consulted by candidates who need to understand the needs of our local businesses, who need our elected officials to support this most important aspect of island life.

Eliot Lincoln, president, Jersey Chamber of Commerce

Classical programmes of revolutionary forment start with the mobilisation of demographic groups. One takeaway for Chamber from the election was the strength of social media in delivering messages to the voting young. Note how successfully Corbyn reached out to younger voters with the 'Grime for Corbyn' movement at Glastonbury. Perhaps we will see more local ministers standing on soap boxes at the Sark Folk Festival this year, 'Grime for Gavin' who knows?

Embracing social media cannot just be a concern for politicians, but for business as well. If we consider younger demographics as consumers or future business leaders, it is important to stay connected and listen to them. Over the last quarter the YBG has been working much more closely with Chamber to engage on critical issues that affect its future - e.g. better connectivity. We are listening closely to YBG which is sending strong signals that extending the runway is an essential part of the broader tonal colour in the connectivity pallet for Guernsey's future.

When thinking about connectivity it is always worth exploring if we can reinvent past ideas for a better, more connected environment. This month we welcome James Labouchere from the UK to speak about his work in developing new seaplane technology for coastal environments. I wonder if Guernsey could feature in the future of seaplane technology. We have excellent maritime and aeronautical engineering capabilities.

So why not join us for what could be a great way to connect into new industrial partners and perhaps we can make Guernsey part of new connectivity industries.

Martyn Dorey, president, Guernsey Chamber of Commerce

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E di to r Trish Grover editor@collaboratecommunications.com SALES Julie Todd sales@collaboratecommunications.com Desi g n & p ro du cti o n Mojoe joe@mojoecreative.co.uk

Contact is produced six times a year

by Collaborate Communications Ltd. To receive Contact magazine call Julie Todd on: 01534 858514 or email: sales@collaboratecommunications.com www.facebook.com/ContactmagazineGuernsey @collaborateCI www.contactmagazineci.com

Contact is published by Collaborate Communications Ltd. Copyright 2017. All rights reserved. Any reproduction without permission is prohibited. Contact contains editorial content from external contributors which does not necessarily reflect the views of the publishers. Contact does not accept or respond to unsolicited manuscripts and photographs.

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F E AT UR ES

12 18 20 48 52 62

GUERNSEY CHAMBER NEWS

VIEWPOINT With Richard Digard

JERSEY CHAMBER NEWS

JIM ROBERTS Time, money and ideas

SHARING A SIMILAR PERSPECTIVE With Richard Digard

CONTRIBUTORS Trish Grover writer Richard Digard writer Tamara Timothy writer Chris George photographer Peter Trenchard photographer

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C

CHANNEL ISLANDS NEWS

The playground has been created by Bristol-based specialists The Green Play Project whose proposal was selected from a shortlist of three design bids in a competitive tender process. Jersey Heritage commissioned the work as part of its continued investment in Hamptonne and other landmark heritage sites in Jersey.

Key to the brief was producing an area where children can enjoy the fun and freedom of self-led discovery. The features of the playground had to reference both the architecture of the site and traditions of cider manufacture and bee keeping.

New facility for Jersey’s young explorers A new playground brings added excitement and enjoyment for younger visitors at Hamptonne Country Life Museum. The project, which has been designed with early years children in mind, was made possible with financial support from HSBC, whose staff also helped complete the final installation and landscaping.

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An emphasis on the use of natural materials and organic forms has ensured that the play area sits comfortably within the landscape.

Built on two levels, the lower area encourages movement with a focus on climbing, balance and coordination. A trail of challenges is formed from monkey bars, balance beams, a scramble net, upturned apple crates and cider barrels. An attractive wooden den on the bank can be reached by scaling a series of stepping logs – a slide offers a quicker route of descent.

Two sets of steps present different routes to the upper area, where on one side there

is a lookout arbour and willow den.

The alternative pathway takes you through a hexagonal gateway where a sleeper path leads to two further willow dens, one in the shape of an apple and another like a straw bee keeping skep. Here you can also play the traditional game of quoits, where the aim is to throw a ring from a distance onto wooden pegs.

Chris Addy, sites curator at Jersey Heritage said: ‘Hamptonne Country Life Museum is one of our iconic heritage sites, popular with people of all ages whether visiting for a taste of life in days gone by or to just relax and enjoy the beautiful environment. This new playground will add to the enjoyment and excitement for our younger explorers.’

Sharon Slade, head of sustainability for HSBC, added: ‘HSBC is delighted we’ve been able to help provide the new playground. It’s been made possible thanks to HSBC’s Supporting our Community funding programme, which allows our employees to submit a bid for funding projects in their local community.

Volunteering is also a big part of the programme. More than 70 of our people will give over 400 hours volunteering to complete work in the garden at Hamptonne.’

CH AN N E L IS L AN D S N EWS Once the free ‘Jersey Offline mApp’ has been downloaded on to a mobile phone it requires no further data connection avoiding any local or roaming data charges.

The user can easily search for and find the island's points of interest, restaurants, beaches, attractions and other businesses.

Using the phone's internal GPS, the app then helps navigate the user around the island by bus, by car or on foot and includes built in walks that guide the user along a selection of coastal and countryside routes, indicating the length and difficulty of the walk.

Map app for Jersey in response to survey A new app has been developed to help tourists and locals discover Jersey.

Jersey Heritage commissioned the app as a response to visitor and local surveys that indicated a strong demand for Jersey to be accessible via mobile. Jersey Offline mApp bundles up traditional turn by turn navigation apps with freely available information on the island's attractions, giving the user the means to discover all that Jersey has to offer, and providing ways to travel there. Local businesses, beaches, attractions and points of interest have been programmed into the app, helping tourists reach areas of the Island that might be slightly off the beaten track, guiding them through the one way systems and green lanes.

The ITWS business provides the administration of trust services for Merrill Lynch Wealth Management’s international advisory clients.

JTC acquires Merrill Lynch Independent fiduciary, funds and corporate service provider JTC has confirmed its acquisition of Merrill Lynch Wealth Management’s international trust and wealth structuring business (ITWS) subject to regulatory approvals.

In addition, Merrill Lynch and JTC have entered into a strategic relationship whereby JTC will offer a range of trust administration services to new and existing international advisory clients. Merrill Lynch will retain its international wealth management business, including its brokerage accounts, trust assets and international financial advisors.

Nigel Le Quesne, JTC’s chairman and CEO (pictured), commented on the deal: ‘JTC is passionate about providing the very best private client services. We look forward to demonstrating to incoming clients that JTC is a fantastic fit for their administration and wealth structuring needs and for our new colleagues, we will provide an innovative, dynamic and client-focused environment

Jeremy Swetenham, operations director at Jersey Heritage said: ‘When over 50% of surveyed visitors to Jersey told us they were likely to use a free offline navigation app in Jersey we knew we had something exciting on our hands. The primary goal of our talented team has been to craft a practical, easy to use, everyday navigation tool for everyone - tourists and residents alike - rather than limit its appeal to those with a specific interest in the island's heritage.

'That having been said, the Offline mApp does introduce users to the unique quality of life that can be enjoyed in Jersey through guided walks and other recommendations.

'We are looking forward to adding further content in the next revision and hearing from any more partners who would like to participate.’ The app responds to the demands of an increasingly mobile and digital market.'

As well as making information freely available offline and paperless to tourists, it also hopes to give local businesses a platform on which opening hours, events, images and essential business information can be shared and updated regularly.

in which to work and grow.’

Don Plaus, head of Merrill Lynch’s private banking and investment group, international and institutional, said: ‘We are pleased to be able to offer our clients access to this award winning provider of wealth structuring and trust services. We believe our clients will benefit from their deep experience in trust administration and structures in our key markets.’

With the addition of approximately 70 Merrill Lynch employees, the deal will see JTC’s number of employees rise to almost 600, adding to its footprint in the key global financial centres of the Cayman Islands, Geneva, London, Miami and Singapore. It will also establish JTC in the Isle of Man, giving it a presence in 20 global jurisdictions in total, following its recent acquisition of New Amsterdam Cititrust in the Netherlands.

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C H A N NEL ISLA NDS NE WS

Phil Tufnell to speak at 2017 Jersey Construction Council Awards Phil Tufnell has been announced as the guest speaker for the 2017 Jersey Construction Council Awards.

Following Matt Dawson last year the JeCC Awards sub-committee has secured the ‘opposing’ captain from BBC’s A Question of Sport for the gala dinner that will take place on Saturday 14 October at the Hotel de France.

As a player Phil was a mercurial bowler, often unpredictable, but just as likely to be brilliant.

He took 121 wickets in his 42-test career, including an incredible 11 wickets in a single test against Australia.

After his England career, Phil looked to the media. Occasional guest appearances on shows such as A Question of Sport before later becoming a team captain, showcased his cheeky, outgoing character. He was the winner of ITV's I'm a Celebrity...Get Me Out Of Here, which brought him to the attention

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of a much wider audience. He followed the success with a spell as a team captain on They Think It's All Over and now regularly appears on a range of programmes from The One Show to Strictly Come Dancing to gardening programme Flowerpot Gang.

Marc Burton, chairman of the 2017 Awards sub-committee said: ‘We are delighted that Phil has agreed to join us as our guest speaker. In a change to the normal after dinner speech, Phil will be participating in a Q&A session presented by awards’ host, Karen Rankine, where he will take questions from the audience that will no doubt cover his cricketing career, time in the jungle and his current role as one of the captains on the highly popular BBC A Question of Sport. Phil is a larger than life character so it is envisaged that this will prove to be a fun night’.

Phil will also undertake a cricket coaching session in conjunction with the Jersey Cricket Board prior to the awards event. This will be the second year that the JeCC’s guest speaker will deliver coaching sessions for local sporting enthusiasts and they are delighted to put something back into the community.

Full categories and sponsors for the awards for 2017 include: Gold Sponsors • Benest & Syvret Project of the Year Over £5m Award • Comprop Business of the Year Over 10 Employees Award • Jersey Electricity Sustainability Award Silver Sponsors • Channel Island Lines Project of the Year £1-£5m Award • Coppolo & Coyde Business of the Year Under 10 Employees Award • Highlands College Star of the Future Award • Jersey Construction Council Industry Achiever of the Year Award • Jersey Development Company Health & Safety Award • Ogier Best Use of Innovation Award • Ronez Project of the Year up to £1m Award • JeCC Lifetime Achiever Award

CH AN N E L IS L AN D S N EWS

The transaction was finalised on Monday 5 June and is subject to regulatory approvals, following which the business will be rebranded under the Estera name. HFSG employs approximately 100 people across three jurisdictions and all employees will remain with the business and become part of the Estera team.

Estera purchases Heritage Financial Services

Farah Ballands, CEO of Estera, said: ‘We are delighted to welcome HFSG to the Estera family; a team with an excellent reputation in client service, a value which is core to Estera. This transaction, together with our acquisition of Guernsey-based Morgan Sharpe earlier this year, is central to the expansion of our funds service line, whilst also expanding jurisdictional choice for our trust and corporate clients.’

Fiduciary and administration provider, Estera, has acquired the Heritage Financial Services Group (HFSG), an independent business providing third party fund administration, depositary, trust and corporate services in Guernsey, the UK and Malta.

Ethan Levner, Estera Group head of corporate development said: ‘The funds market is a strategic priority for Estera and the acquisition of two leading fund administration businesses so far this year demonstrates our commitment to building an international presence in this segment.

Mark Hayward, chief executive of the National Association of Estate Agents, will be one of the judges of this year’s awards event.

Mark’s experience within the UK property sector is extensive.

He has acted in a consultancy capacity to national and regional developers and housing associations.

He also holds a number of board and committee roles for organisations including HM Treasury’s Money Laundering Advisory Committee, the Land Registry Advisory Council and The Property Ombudsman.

Peter Ferbrache, president of the Economic Development Committee said:

UK expert joins Guernsey Property & Construction Awards judging panel

‘As usual, we are looking forward to celebrating the achievements of Guernsey’s hard-working property and construction professionals, and recognising the contribution they make to Guernsey’s industry, at all levels.’

This acquisition also adds considerable scale and expertise to our existing corporate and trust service lines.’

Mark Huntley, CEO of HFSG, added: ‘This transaction marks a significant development for Heritage, our clients and employees.

While we will continue to deliver the highest standard of professional and personalised service, our business, our people and our clients will all benefit from the global resources and growth ambition offered by Estera in respect of our fund and fiduciary service offering. We appreciate that for our clients continuity of people and service is of great importance. To this end, they can take reassurance in the fact that all Heritage employees will transfer to Estera and that our senior management will take a meaningful stake in the enlarged business.’

Heritage Group’s insurance business is excluded from this transaction and will continue to operate as a separate entity.

Photo: L-R: Mark Huntley, Farah Ballands, Ethan Levner.

Nominations for the awards are open and are welcomed from both the general public and those working within the industry.

The winners will be announced at the annual awards ceremony, to be held at Beau Sejour on Thursday 2 November.

The award categories are: • Aspiring Star Award • Health & Safety Award • Engineering Project of the year • Property Agent of the year • Innovation for Best New Product or Service • Industry Supplier of the Year • Lifetime Achievement Award For more information, and to download a nomination form, please visit: www.guernseyconstructionawards.com

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C H ANNEL I SLA NDS NE WS

Air taxi service for Channel Islands

Isle-Fly, based at Jersey Airport is the islands’ new air taxi service. Providing charter solutions to business and leisure travellers, Isle-Fly is the first new air taxi service in the islands for over thirty years.

The service has been launched by Jersey Jet Centre and has an eight-seater multi-engined Cessna aircraft. With the option to fly to destinations up to two hours from Jersey

or Guernsey, the service aims to offer a flexible, cost effective and dynamic solution to the market.

Isle-Fly founders Colin Wright and Paul Sabin both have significant experience within the aviation industry. Colin has a background in operations, maintenance and finance; Paul brings commercial pilot expertise and experience from his previous role as MD of Blue Islands.

As the service establishes itself, additional aircraft will be added to the fleet offering a combination of jet and propeller

CICRA has commissioned an independent audit of mobile phone masts across the Channel Islands to ensure they meet internationally-recognised guidelines and emissions are within safe limits.

As part of its role as regulator of the telecoms sector, CICRA has worked with local operators to ensure consumers have a choice of mobile operators offering 4G services. The delivery of these services meant significant changes to the mobile mast networks across the Channel Islands. CICRA’s mast audit, conducted by independent contractor, iWireless, will ensure Channel Islanders have up-to-date information about the masts, where they are and they can be confident that emission levels are monitored.

CICRA commissions mobile mast emissions audit 8

Each mast is assessed against the guidelines set down by the International Commission for Non-Ionising Radiation Protection (ICNIRP). iWireless has started its audit and Jersey, Guernsey, Alderney, Sark and Herm will all be visited. There are 91 transmitter sites in

charter options.

‘Isle-Fly is a functional and efficient proposition that the islands desperately need, bridging the gap between scheduled flights and expensive jet charters' explains Colin.

'It’s your plane, your way. You choose when and where you want to fly. We can access smaller airfields that get you closer to your destination, avoiding the congested larger hubs. It’s the perfect solution and we are extremely excited to be launching.’

Guernsey, 202 in Jersey, one in Herm, five in Sark and six in Alderney.

CICRA director, Louise Read, said: ‘Mobile phones are a vital part of most people’s lives.

The range of services on offer to islanders is growing and will only continue to grow with the further development of high speed mobile data.

‘These services rely on the network of mobile masts which emit electromagnetic radiation.

JT, Sure and Airtel are required to ensure the masts they install comply with the ICNIRP guidelines. Local consumers can be reassured that CICRA is monitoring this on their behalf.’

The last full audit of mobile phone masts took place in 2013. All masts complied with the ICNIRP guidelines with the highest emission reading only one-seventh of the agreed internationally-set safe limit.

A full copy of the results of the audit will be published on CICRA’s website in September (www.cicra.gg) including a downloadable report for each site.

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Business DIARY May

Coming up…

A few key business events for your diaries

DATE

EVENT TIME

VENUE

BOOKING / INFORMATION

4 July

Business Trends Survey

1200 - 1430

St Pierre Park Hotel

www.guernseychamber.com

4 July

CIFO annual overview

0900 - 1000

St Helier Town Hall

www.ci-fo.org

6 July Sure Customer Service Awards 1700 – 1900

Market Square St Peter Port

www.thecustomerserviceawards.com

11 July

WDF Lunch

1200 – 1400

Royal Yacht Hotel

www.wdforum.org

12 July

14 July

17 July

30 July

Jersey Chamber Lunch Dr Ian Skinner, assistant director, strategic planning and performance, States of Jersey

1230 – 1430

Pomme d’Or Hotel

www.jerseychamber.com

IOD Guernsey lunch

1215 – 1400

Moores Hotel

www.iod.gg

Guernsey Chamber lunch James Labouchere CEO Seaplanes

1200 – 1400

OGH Hotel

www.guernseychamber.com

Leadership Jersey The executive as coach

1800 – 1930

Pomme d’Or Hotel

www.leadershipjersey.je

21 Aug

Guernsey Chamber lunch Lucienne De La Mar, Sure

1200 – 1400

OGH Hotel

www.guernseychamber.com

If you would like your event included in our diary please email details to editor@collaboratecommunications.com

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GUERNSEY CHAMBER NEWS

All change at Chamber The Guernsey Chamber of Commerce has strengthened its operations team with the appointment of John O’Neill as Chamber director and Jackie David heading up customer services.

John’s appointment follows the retirement of Barry Cash, who has stepped down after 10 years at the helm.

Based at the Chamber office in Glategny Esplanade, John will work closely with new head of customer services, Jackie David, taking on responsibility for Chamber’s lobbying of government on

behalf of members, as well as growing the membership.

John has more than 15 years of commercial and media experience, most recently with the Guernsey Press, and has worked as business development manager alongside Barry Cash in the Chamber office for the last 18 months.

Martyn Dorey, president of Guernsey Chamber, said: ‘Having taken the decision to appoint John to this senior operational role in the face of an increasingly complex environment, it positions us very strongly to carry out our strategy in the Bailiwick.

‘I would like to thank our outgoing director Barry Cash for all his hard work and significant

contribution to Chamber over the years.

‘We also welcome Jackie as the new member of our team replacing Linsey who has moved on to a full-time career in finance. We wish Linsey well in her new career - the office will never be as well organised!

'Jackie comes to us with a wealth of experience from shepherding in Wales through recruitment, property management, shipping as well as providing support services to the NHS, GFSC and legal services.

'We like to employ members of our team who have a wide experience of life and Jackie certainly lives up to that.

'We welcome her as our new head of customer services.’

Having taken the decision to appoint John to this senior operational role in the face of an increasingly complex environment, it positions us very strongly to carry out our strategy in the Bailiwick

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G U E RN S E Y CH AM B E R NEWS

The survey – organised by YBG in conjunction with Guernsey Chamber of Commerce and Island Global Research aims to gauge the views of Guernsey’s business community in order to establish the business performance and levels of confidence levels within the island’s private sector.

Gavin St Pier, president of States of Guernsey Policy and Resources Committee

Vaudin has kindly offered all Chamber and YBG members on a tour of the Vaudin Stonemasons yard. The tour will include a look at the various materials and machinery used as well as the stoneworks Vaudin is currently working on. Following the tour Vaudin has kindly offered to sponsor a BBQ and beers event open to all attendees.

There is no charge for this event so book your ticket now as there are only 50 spots available. Come and join us for a fun Friday evening with the Vaudin team!

Chris Brock, director of Island Global Research

Visit www.guernseychamber.com for more information and how to book.

Questions relate to turnover, profitability, staffing and companies responding represent the wide range of the local business community, including hospitality and tourism, construction, retail, finance and transport.

Last year’s results indicated that the following were three initiatives businesses would be keen to support.

Each panelist will be asked to give a brief comment on how he interprets the survey results. Following this, lively and stimulating interaction between the panel members and delegates will be encouraged.

• Government support for emerging/growth economic sectors providing greater economic diversification

Visit www.guernseychamber.com for more information and how to book.

Dates for your diaries Business Trends Survey – presentation and panel discussion Tuesday 4 July 12.00 noon – 2.30pm St Pierre Park Hotel

• Government collaboration/partnership between public sector bodies in Jersey and Guernsey • Better forums for Government and business leaders to exchange views on government policy

This year’s event will include a networking opportunity followed by a brief introduction from Martyn Dorey, Chamber president. The detailed results will be presented and assessed by Matt Stanbury of BWCI and then there will be a panel discussion and Q & A session.

This year’s panel will include:

Chris Williams, chief secretary to the Committee for Economic Development

Teas, coffees and a light buffet lunch are provided.

Vaudin Stonemasons – tour and BBQ Friday 7 July 4.30pm – 7.30pm La Fontaine Vinery Le Murier, St Sampsons

Orchard tour with Rocquette Cider Friday 4 August 6:00pm - 7:30pm Rocquette Cider Co. Ltd. Les Fauxquets de Haut Rue des Fauxquets, Castel Something for a warm summer evening come and join Chamber on Friday 4 August for a tour of the beautiful Rocquette Cider orchard. After a 40 minute walk around the orchard, we can enjoy tasting the cider, fruit liqueurs and apple juice that Rocquette Cider has to offer.

Biscuits, Guernsey cheese and Rocquette’s very own chutney will also be served.

Visit www.guernseychamber.com for more information and how to book.

GU ER NS EY C HA MBE R NE WS

Chamber has a new vice president Collas Crill associate Hana Plsek was voted in as our new vice president at this year’s annual general meeting.

Hana, who has day-to-day responsibility for Collas Crill’s employment and housing practice, already represents Chamber on the disability discrimination legislation project team and also sits on Chamber’s population sub-group following the implementation of the Population Management (Guernsey) Law, 2016 by the States of Guernsey earlier this year.

In her role at Collas Crill, Hana regularly

July Chamber lunch Monday 17 July 12:00 pm - 2:00 pm Old Government House Hotel We are delighted to welcome James Labouchere as guest speaker in July.

James will speak about the case for amphibious seaplanes and their potential as economic enablers.

James is the CEO of Warrior and the founder and chief architect of Warrior’s original technology. He acted extensively as a consultant to Green Marine Ltd., a builder of a variety of extreme yachts including America’s Cup challengers and round-the-world sailing yachts. His consulting roles have included leading the development of production techniques for complex composite submarine masts. He has been designer and

advises on contentious and non-contentious matters ranging from confidentiality and non-solicitation agreements in connection with restructuring to redundancy and dismissal procedures for local firms.

She is looking forward to her new challenge: ‘This is a great opportunity for me to work with the Chamber of Commerce on some important projects that will help enhance the island.’

John O'Neill, the newly-appointed director of the Chamber of Commerce, said: ‘We are delighted that Hana has joined us at the Chamber. She will be an invaluable member of the team, bringing in her legal skillset to assist with some of our wider, community-based projects.'

project manager of various extreme marine and land-based vehicles, for which he has been granted a number of awards.

These include the Silk Cut Nautical Award for Technical Innovation for the design of a multi-hull yacht, and South West England Young Engineer for Britain (runner-up at the final) with a single-seat biplane modified from an unproven US design. He designed, and built in conjunction with Green Marine, the current holder of the British land yachting speed record (113mph).

Thank you to lunch sponsor Sure.

Join Chamber today the voice of local business

Business support; networking events; business advice; business events; liaison with States departments; new interactive website.

Email: office@guernseychamber.com Tel: 01481 727 483

www.guernseychamber.com

@GuernseyChamber

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Having developed the Investec Bank (Channel Islands) banking system known as Vision, Vega has demonstrable credentials in providing secure, robust systems to improve operational efficiency and client experience.

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If your company needs to share data with clients or other business partners, Vega is able to provide a secure solution that will allow you to access, share and transmit data reliably.

Vega’s proprietary application framework,

CESG Limited is this year celebrating the 10th anniversary of the company providing global employment solutions.

CESG

Services provided by CESG Limited range from basic local managed payroll bureau services through to the full crew HR management and employment solutions for international shipping companies and superyacht owners. With associated businesses in the UK and Malta, including legal, tax and social security expertise, and

Established in 2006 by founder and chairman Derek Coates, Blue Islands carried 63,500 passengers that year using a combination of Islander, Trislander and Jetstream aircraft.

Blue Islands

16

Over the next 10 years Blue Islands continually invested in route development and passenger growth. In June 2016, Blue Islands became a Flybe franchise partner, signing a 10-year agreement and is forecasting to carry 400,000 passengers

Email: info@vegasolutions.co.uk Tel: 0118 971 1180 www.vegasolutions.co.uk

also as part of a global payroll alliance, we genuinely believe we have the solution for most employment situations. At CESG Limited we pride ourselves on our brighter approach to client relationships where we genuinely believe every client is number one and with 30 employees in Guernsey we are proud to play a role in the development of the island's business.

Email: enquiries@cesguernsey.com Tel: 711828 www.cesguernsey.com

in 2017. As a Flybe franchise partner, Blue Islands remains an independent privately owned air operator, totally committed to the Channel Islands, flying our own ATR aircraft under the Blue Islands AOC (Air Operators Certificate), without the need for government support, using an all-ATR fleet with 46 and 68-seat variants.

Email: customercare@blueislands.com Tel: 01234 589 200 www.blueislands.com

G U E RN S E Y N E W M E M BER S

Chartered Psychologist HCPC Registered Health Psychologist Psychology | Coaching | Counselling

Dr Tim Mahy

I am a chartered psychologist and a Guernsey and HCPC registered health psychologist. I develop bespoke solutions for the client, to enable them to move forward in life. My specialisms include employee wellbeing and coaching and I act as wellbeing consultant to a large local organisation. I also specialise in chronic pain

Island Consortium is a group of highly experienced people who are focused on supporting organisations and companies to develop in-house expertise.

Island Consortium

IC Training is a division of Island Consortium.

We work in partnership with customers to deliver effective training courses, coaching and change implementation services.

We pride ourselves in being able to design

and irritable bowel syndrome. I invest in my own self-development to ensure I offer a flexible and effective service to my clients.

My methods incorporate the evidencebased use of hypnotherapy, acceptance and commitment therapy, and solution-focused approaches, to name a few.

Email: tim@sarniahealth.co.uk Tel: 07781 105432 www.sarniahealth.co.uk

and deliver quality training across all levels of an organisation. We have an extensive network of experienced coaches with a proven track record of delivering great outcomes. We work at the forefront of today’s business thinking, which enables us to offer tailored programmes that deliver real results.

Email: admin@islandconsortium.com Tel: 07839 111968 www.islandconsortium.com

A single source solution for translation, typesetting and conference services

‘We translated into Chinese on behalf of the States of Jersey which assisted them in obtaining the contacts for Jersey milk to be sold in China.’

We translate, typeset and print to every language : websites, manuals, software, patents, claims, books, print, etc.

Jersey-based Tongue Tied can translate, typeset and print websites, manuals, software, patents, claims, books, print and plenty more in every language, Launched in the UK in 1989, Tongue Tied moved its headquarters to the Island two years ago where it has expanded from simple translation and typesetting, to offering complete conference facilities, That includes providing interpreters, sound booths and roving microphones anywhere in the world.

The company, which has developed franchise businesses in the UK and the US also owns 50% of UK technical translator Tech Trans. From its home in Jersey, it is partnering with Island-based international businesses looking for a wide-range of translation services around the world, including complex websites.

Tongue Tied’s three USPs-Price, Quality and Delivery - translates into 92% client retention.

Tongue Tied (Jersey) Ltd Tel: 01534 735505 Email: sales@tongue-tied.je Website: www.tongue-tied.je Toungue Tied_Contact.indd 1

03/02/2017 12:39

VIEWPOINT WITH RICHARD DIGARD

FINDING WAYS OF WORKING MORE CLOSELY Take a good look at Jersey and Guernsey’s medium term financial plans and what strikes you is the similarity between what the islands are trying to achieve – and why. If that’s the case, argues Richard Digard, we should be doing far more together.

Until asked to do so by Contact magazine, I’d never waded through the respective medium term financial plans for both islands looking for points of similarity or contrast.

Jersey documents and you can see how true this is. Just look at the table I’ve produced in the main article elsewhere in this magazine and you’ll see where the islands’ ambitions overlap.

And to be honest, it’s not something I’d especially recommend for fun or leisure because it’s hard going. But it is instructive.

Safe and stable communities with sustainable finances, economic growth and decent jobs and a caring and inclusive society with an emphasis on health and wellbeing… It’s what we’re all striving for.

As Island Global Research highlighted when it was producing its regular Monitor reports, all island communities face similar problems and challenges and we can all potentially learn from each other.

Read the relevant States of Guernsey and 18

That, of course, plus quite significant reform of the public sector in the way of what it costs and the way it conducts itself. Despite the diplomatic and supportive tone of the words about staff, the underlying message is

very clear. Today’s public sector is not fit for purpose.

In Jersey alone, 162 applications for voluntary release have been approved since 2015, which has produced annual savings of £5.5m. a year and the commitment is for that process to continue.

So both islands set huge store on substantial reform and ploughing the savings back into helping to achieve long-run surpluses and funding further investment into essential infrastructure and service transformation projects.

Guernsey’s 10-year reform approach

attracted some ‘glacial pace’ derision at the time it was announced but has made some slow but steady progress while Jersey’s more breakneck and ambitious proposals have now been scaled back as ministers acknowledge that too fast can be just as damaging as not at all when it comes to change.

Even a Council of Minister with real executive power to make things happen finds that big organisations, especially those funded by the taxpayer and subject to over-representation by the unions, have tremendous inertia hard-wired into them.

Anyway, a review of the plans highlights the almost extraordinary commonality of approach within our administrations and where they do differ it is generally over scale and tone. And also, I suppose, because the Jersey planning process is mature while Guernsey’s is in its first iteration.

Because ministers can make things happen, the departments’ direction of travel can be aligned to a government business plan.

Which they are, and which gives a sense of direction and of coordinated government.

Guernsey, on the other hand, has no certainty until the Assembly as a whole has considered something and agreed or modified a particular course of action.

Even then, the agent of implementation is a largely autonomous committee that needs pay no attention to Policy and Resources and is able to interpret – quite widely at times – what the States actually meant in issuing a decision.

This comes through strongly in a review of the documents, which is why Guernsey’s is more traditional Billet d’Etat (a formal paper supporting an agenda item to be debated by the Assembly) while Jersey’s is more classic

business plan and therefore easier to read.

just screams out CI Law Enforcement.

Talking of approachability, these things are so long you wonder who they’re written for, marvel at the amount of man hours they take to prepare, and whether anyone ever gets to the end.

Guernsey successfully merged Customs and Immigration/Guernsey Border Agency with its police service and has also demonstrated that a combined call centre for police, fire and ambulance not only works and saves money, it’s actually a no-brainer.

I accept there’s a balance to be struck between providing adequate explanation and information but the inability of Policy and Resources to speak for the departments means the committees do so for themselves, leading to a plan that comes by the volume.

Similarly, having a single law enforcement agency that combines all those elements and provides a Guernsey and Jersey service seems to me to make perfect sense, especially as we head for a post-Brexit world.

Anyway, when you see how the islands have identified similar issues and challenges to overcome and provided solutions to do so, the other striking thing to emerge is how little we work together.

It’s certainly transformational and having a single agency would provide greater flexibility for deploying staff, especially those specialists who are hard to recruit or retain, or whose skills aren’t called upon full time.

By that I mean a glance over the documents shows how much in common the islands have, yet the joint working is, in comparison, non-existent.

I know this has been considered by Guernsey and the Committee for Home Affairs is already under pressure to save money and end excessive reliance on overtime.

Even allowing for the fact that Jersey and Guernsey compete to an extent for business, there are significant areas where their interests run parallel: health, education, public sector transformation, promotion of international identity and safety and border security.

The clinical analyses provided by the reports in both islands suggest the real barrier to effective pan-island working is simply insular mindsets.

New hospital in Jersey? What benefits/cost savings can we leverage by working with Guernsey on that? Can we create two centres of complementary excellence and move patients between as required?

While it’s not an instant solution, it’s certainly seen by its supporters as an obvious and practical way of dealing with common problems at the same time as the president of Home Affairs is known for her desire to save taxpayer funds.

Combining the services would certainly be a definitive pilot project for testing the often expressed resolve for greater Channel Island cooperation and meet one of the Council of Ministers’ priorities of merging departments.

As it says, ‘Services will change, some may be delivered by other organisations, and some services will cease.’

The only question, I suppose, is when.

Perhaps more fundamentally, the absolute requirement for safety and border security

Even allowing for the fact that Jersey and Guernsey compete to an extent for business, there are significant areas where their interests run parallel: health, education, public sector transformation, promotion of international identity and safety and border security 19

JERSEY CHAMBER NEWS

EXECUTIVE COUNCIL PROFILE Having been involved with the Chamber of Commerce for more than six years, the last two as chair of the retail and supply committee, I am delighted to have taken on the role of Chamber vice president, and look forward to working closely with Eliot and Gillian over the coming two years.

Being extremely privileged to have grown up on the island, I was educated at Les Quennevais and went on to spend a year at Highlands College, studying a retail focused BTEC business course. I mention this fact as it demonstrates the strength of local education and highlights what value Highlands College has to offer and the positive impact it can have on people’s development.

My career started on the shop floor of what was then the Le Riches store at Red Houses, and developed over the 24 years I spent with the company. Seven years ago I joined the Channel Islands Co-operative

Society in my current role as chief operating officer, and now have the privilege of leading a great team of people in a business that makes a real difference.

The Co-op and Chamber have many things in common, both are run for the benefit of their members and have a strong community focus. Therefore, getting involved with Chamber was an easy decision for me.

Jersey has an impressive history of volunteering and the Chamber of Commerce is a great example of this.

It never ceases to amaze me, the time and support that Chamber receives from those who voluntarily seek to help each other, and the industries that they represent. Spending the past two years on the executive council has allowed me a greater understanding of the issues facing sectors other than retail, although there are some very similar challenges being faced by all!

The retail and supply committee has been extremely proactive over the previous two years. It represents a large area of membership for Chamber and has plenty to keep it busy. The committee meets monthly, and is made up of representatives from across a number of retail and supply businesses, all giving up their time to ensure the sector maintains a strong voice locally.

Some of the issues in which we have been

recently involved include campaigning against proposals to stop promotions on alcohol as part of the updated licensing law.

This was a great example of how Chamber, working with and on its members’ behalf, was able to have a strong voice. As a result of our work this proposal was withdrawn.

The committee has also campaigned hard to have the retail strategy updated, and again as a result of our work, we are delighted that the States department responsible has now agreed to update this important strategy.

Thanks to support from members of the committee we have been able to form a sub-group which is working closely with the States to ensure that retailers have input and continue to be engaged as this work is completed.

Chamber exists to represent its members and provide a voice across a broad spectrum of island businesses. I’m certainly looking forward to the next two years as vice president, learning as much as I can, so that when I take over the reins from Eliot as president at the end of his tenure, I can continue to ensure we protect and further members' interests.

Mark Cox, vice president, Jersey Chamber of Commerce and chair of the retail & supply committee.

It never ceases to amaze me, the time and support that Chamber receives from those who voluntarily seek to help each other, and the industries that they represent.

20

J E RS E Y CH AM B E R N EWS

PLANNING OBLIGATION AGREEMENTS Clarity and consistency versus the great unknown.

The Department of the Environment is currently undergoing a review of the Planning Obligation Agreements (POAs).

For those who don’t know, these are contributions paid by builders and developers for the provision of infrastructure or other such items required by the effect that a particular development might have on an area. In the past, these have been decided on what often appears to be a whim, rather than being based on any agreed policy, so the current review of POAs is one welcomed by the construction industry. After all, anything that serves to rationalise, and make the system fairer, more transparent and less open to personal interpretation has to be a good thing.

However, we have been advised that the revision of the POA system is simply a ‘sticking plaster’ solution to the current issues surrounding POAs – a system that could subsequently be replaced by a Jersey (community) infrastructure levy, although the POAs will still remain for site specific items.

Facts surrounding the infrastructure levy and whether it will be brought in or not, to whom it will apply and how much it could cost businesses are all questions that remain unknown facts to the industry. Add in the uncertainty around how the new POA guidelines will be enforced, as some elements remain open to interpretation, and you have a great deal of concern in the industry.

The world as we all know is in a state of change, the level of which we have not seen before and to which no one can be certain of the outcome. In this sort of climate, the building and development industry needs clarity and consistency, not uncertainty and confusion. Whilst we appreciate that the review of POAs is being done with the best intentions, the additional burden that a further contribution and additional red tape could add to an already complex process, could be

the difference between some or no development. This is not good for an island wanting to survive in a challenging economy.

At the outset, the Chamber of Commerce has expressed its concern over the introduction of a community infrastructure levy, which we believe could be hugely damaging to the industry and economy as a whole. Much better would have been to overhaul the one POA system.

Rather than repair it, only to shortly thereafter, replace it with something completely new, whilst retaining certain elements of it!

(Yes it really is as confusing for us ‘experts’ as it will be for you reading this).

Such a process seems in our opinion unnecessarily confusing and complicated.

When if just approached and considered differently, with early consultation, it could have been far simpler.

Cathy Elliott, chair, building and development committee.

The world as we all know is in a state of change, the level of which we have not seen before and to which no one can be certain of the outcome. In this sort of climate, the building and development industry needs clarity and consistency, not uncertainty and confusion

21

J ER S EY C HA MBE R NE WS

WASTE TAX UPDATE The proposed waste charge first came to Chamber’s attention almost 12 months ago, ahead of the Medium Term Financial Plan (MTFP) last September.

At the time Chamber was concerned about the principle being debated without much detail being available to either States members or the public. Our concern was that if the States agreed the principle then the Department for Infrastructure (DfI) could return to the assembly with confidence that members would approve the introduction of these charges because they had ‘already agreed the principle’.

Since September, Chamber has lobbied for the government to think twice about introducing such a tax - a tax that will unquestionably have a negative impact on every single business in the island, if later this year, the States agrees to introduce the waste charge/tax.

For some businesses, the new liquid waste tax will mean an additional overnight tax of £40,000, this is without any charge for solid waste or any of the other charges currently being considered.

A tax such as this will no doubt result in the closure of businesses, especially those in the hospitality and tourism sectors, areas where Jersey competes on a global stage and margins are very tight, and at some times of the year non-existent. This, at a time when we want businesses to reinvest in their products and for the island to be in a position to support Visit Jersey's aspirations of one million visitors, ultimately helping to diversify the economy.

Whilst Chamber remains extremely concerned about the inevitable impact this tax will have, we are equally astonished and worried about the lack of detailed impact assessments or thorough research, which has clearly not been carried out by government, DfI, or Council of Ministers, ahead of proposing and introducing this new tax.

There remain many unanswered questions and despite assurances that there would

be full consultation, there has been a distinct lack of debate on the subject with industry specialists.

No business would propose or implement an almost overnight 100% price increase (such as the 95% tax rate for the treatment of liquid waste), without having carried out the necessary research as to how this would affect their customers. Any organisation operating in this way would likely see customers cancel their service with immediate effect and look elsewhere.

Unfortunately, businesses do not have the luxury of choice, where government taxes are concerned. The government appears to want to introduce new charges for services almost at will. In our view, these should be put on hold until there has been a full review of existing tax and business charges as well as detailed impact assessments.

If you haven’t done so already you should make yourself aware of the potential impact this waste tax will have on your business.

Andy Jehan, chair, transport and tourism committee

For some businesses, the new liquid waste tax will mean an additional overnight tax of £40,000, this is without any charge for solid waste or any of the other charges currently being considered

22

CH AM B E R E V ENT S

July Chamber lunch Future Jersey Speakers: Dr Ian Skinner, assistant director,

strategic planning & performance,

States of Jersey, joined by the

chief minister Date: Wednesday 12 July 2017 Venue: The Pomme D’Or Hotel Timings: 12:30-14:30

Overview Jersey is on the cusp of creating its first shared, long term vision. At our July Chamber lunch our guest speaker Dr Ian Skinner, who compiled the report, will present the key ambitions from the soon-to-be released ‘Future Jersey’ consultation document.

Aimed at promoting discussion about the community, economic and environmental outcomes we want for our island, we will also hear how the vision might affect how we do business.

For more information or to book tickets or corporate tables (of 10) online for any of our events please visit www.jerseychambertickets.com For more information about any of our events or for any queries contact:

Wed 13th September

The Royal Yacht

Wed 11th October

The Radisson Blu

Wed 8th November

The Pomme D’Or

Wed 13th December

The Royal Yacht

Chamber is already looking ahead to our 2018 events programme. Next year we mark our 250th anniversary, and plans are taking shape for a special year of celebrations promoting the work we do on behalf of our membership and reviewing the impact that Chamber has had on commerce in Jersey over its long history.

As the oldest Chamber in the English speaking world, there’s a lot to celebrate!

As we begin to shape our events programme for 2018, now is the time to get involved as a Chamber event sponsor during what promises to be a very special year.

Chamber lunches Our monthly Chamber lunches are a staple on the Jersey business calendar and attendees regard them as the best, regular professional networking opportunities on the island. Our invitations reach a database of thousands of unique business email addresses who have opted to receive them, and each lunch typically attracts between 200-250 attendees. Becoming a Chamber lunch event sponsor is a fantastic and unique

Event Sponsor: BWCI Group Wine Sponsor: Dunell’s Premier Wines Coffee Sponsor: Cooper & Co Jersey

About the Speaker Dr Ian Skinner has been the assistant director, strategic planning and performance in the chief minister’s department since 2013, having spent

Remaining 2017 lunch events

2018 Chamber sponsorship opportunities

the previous 14 years leading corporate planning and performance for States of Jersey Police.

Hayley Mallet, events and marketing manager hayley.mallet@jerseychamber.com or call a member of the Jersey Chamber executive team on 01534 724536.

opportunity here in Jersey to meaningfully engage with mid to senior level employees, business directors and owners from across all commercial sectors.

Event sponsorship package Becoming a Chamber event sponsor brings a number of benefits, including: •

Company logo on all promotional material, publicity and invitations for the event including up to five invitation emails emailed to our database.

• Banner advertisement placed at the top of the Chamber of Commerce website for the relevant sponsorship month.

• Logo and contact details included on a post-event ‘Thank you for attending’ email sent to all attendees.

•

Sponsor logo included in the event summary on this page in the relevant bi-monthly issue of Contact Magazine, which is distributed to all Jersey and Guernsey Chamber of Commerce members and delivered to the desks of 2,500 business professionals pan-island. It is also placed at ports, cafés, hotels and the receptions of major businesses.

•

Five free places at the sponsored event including two places at the top table which are otherwise not available for purchase.

• The opportunity to propose a vote of

thanks on behalf of your company at the conclusion of the sponsored event.

• The ability to propose a speaker.

•

The opportunity to place collateral on tables and branding throughout the event space, as well as having your logo on the lunch menus and on screens where appropriate.

Discounts are available where a sponsor block books three events at one time.

Critical briefings This year we have also launched Chamber critical briefings - ‘hot topic’ business events that run throughout the year on an ad hoc basis according to need. They allow members and non-members to hear from speakers with expertise in a particular area of interest, delving deeper into the issue/s under discussion. Formats vary but they are usually half-day events for 150-200 guests.

Please contact us to register your interest in receiving details of forthcoming critical briefings and associated sponsorship opportunities.

Contact us to find out more For more information about any of our 2018 Chamber of Commerce sponsorship opportunities, please contact Hayley Mallet - events & marketing manager 01534 724536 hayley.mallet@jerseychamber.com

23

J E RSE Y N E W MEMBERS

We are an independent Jersey based regulated fiduciary service provider, with client service and client solutions firmly entrenched in our culture.

Baccata Trustees

We provide establishment and administration of private wealth, trust and company structures for private individuals, family offices as well as for corporate and institutional clients. We also provide international finance, corporate

Compliance Recruitment Specialists (CRS) is a bespoke recruitment agency, dedicated to placing talented individuals within the areas of risk and compliance.

Compliance Recruitment Specialists

CRS was founded by Colin Burgess, a seasoned compliance professional with over 15 years’ senior level industry experience. Colin strongly believes that employers seeking new recruits, and job seekers searching for new opportunities within risk and compliance, deserve a

MT Virtual PA is me, Michelle Thorpe.

MTVirtualPA

Roynon-Jones & Co 24

I am an executive assistant with over 15 years’ experience. I have worked alongside professionals at the most senior level, most recently as assistant to the COO of a global fiduciary services firm. I am organised, accurate, always calm with great diplomacy and discretion. MT Virtual PA offers remote assistance in many ways - formatting/typing documents, travel, diary and email management, arranging events,

governance and wealth structuring and bespoke solutions to our global client base.

Baccata is owner managed and remains proudly independent. Alongside the quality of our work and the solutions we provide, we ensure a close working relationship with all of our clients.

Email: trustees@baccata.co.je Tel: 01534 870670 Website: www.baccata.co.je

knowledgeable and experienced agency that is able to offer unrivalled support, advice and guidance.

CRS – recruitment for compliance professionals - by compliance professionals.

Email: colin.burgess@crs.je Tel: 01534 767053 Website: www.crs.je

arranging meetings. I can act as your personal concierge - make restaurant bookings, organise housekeepers/cleaners/ gardeners, organise trades and services.

By hiring me you gain precious time back in your day to concentrate on the more important tasks clogging up the in-tray.

Email: michelle@mtvirtualpa.com Tel: 07797 770168 Website: www.mtvirtualpa.com

Roynon-Jones & Co is a sole practitioner accountancy and advisory business focused on small and medium sized enterprises. We can help with accounting, tax, ITIS & social security compliance burdens.

offering you help with your records so they are accurate, up-to-date and provide real value to you. We believe the advantages are so great we will set you up, train you and convert your existing bookkeeping records all free of charge.

We suggest efficiencies to the methods and technologies you employ to capture financial information enabling you to interpret results at the right time and take corrective action

Email: robert@roynonjones.com Tel: 07797 727970 Website: www.roynonjones.com

J E RS E Y N E W M E M BER S In essence, Marbral makes change wanted, makes change happen and makes change stick.

Marbral Advisory Marbral Advisory is a leading light in the field of change and project management and is passionate about delivering extraordinarily effective change.

As the largest independent change management and project management practice in the Channel Islands, Marbral supports organisations within the finance, legal, utilities, logistics, telecommunications, construction and government sectors.

Email: hello@marbraladvisory.com Tel: 01534 744 303 Website: www.marbraladvisory.com

Marbral supports clients throughout their change journey – whether that’s during the

Lightning Enterprises CI Ltd has been providing the Channel Islands with Lightning Protection Systems, specialist earthing solutions and associated products for over 20 years.

Lightning Enterprises CI

early stages of analysis and diagnosis, working on an organisational design, planning a change implementation or even embedding change for the longer term.

We have an excellent reputation for quality customer service, quick response times and in depth technical experience, making us the provider of choice for many critical infrastructure buildings, service providers

and property owners across the Channel Islands and South of England.

We are members of The Federation of Lightning Protection Specialists and active members of a wide range of Construction and Specialist National Associations.

Email: tim@propertyplus.gg Tel: 01481 244676 Web: lightningenterprisesci.co.uk

The Jersey Chamber of Commerce is the largest business membership forum in Jersey, representing businesses of all sizes.

Become a Chamber Of Commerce Member Member benefits: - Access to the most effective business networking community in the island, with regular networking events attended by more than 4,000 senior business people annually - Discounted Chamber Event tickets - ‘New Member’ promotion in Contact Magazine - Weekly communications, with links to the latest government reports & consultations that affect business - Dedicated Member email address listen@jerseychamber.com, to raise individual business concerns - Business listing on the Chamber website - Reduced rates on business services including obtaining Certificates of Origin & Letters of Credit - Member to Member discount offers - Reduced rate meeting room hire

For more information on membership please contact the Chamber Executive Team.

01534 724 536 | admin@jerseychamber.com

www.jerseychamber.com

Adele Langlois, business support manager at Barclays

Adele Langlois is a business support manager for Barclays in Jersey and also plays a pivotal role in helping her colleagues to deliver the Barclays Citizenship agenda across the island.

Most associated with her work are the Barclays Community Awards and the Barclays Jersey Boat Show. Adele was also integral to the launch of the Barclays Eagle Lab at Jersey Library.

Can you give an intro to your career so far and what have been your highlights?

I joined Barclays as a junior and have worked my way through a lot of different roles to get to where I am now. That route has given me a great insight into all aspects of Barclays and the knowledge I gained has proved invaluable in the role I’m now doing as business support manager. I lead the island’s Citizenship activity, which is focused on Barclays’ Shared Growth Ambition. Shared Growth is about making decisions and doing business that provides our clients, customers, shareholders and the communities we serve with access to a prosperous future. This side of my role is definitely one of my highlights.

Through Barclays colleague volunteering we have helped lots of people of all ages, with our Code Playground, LifeSkills and Digital Eagles initiatives. I find projects like the outreach programme we have supported with Music in Action particularly rewarding as we are working with young people to give them the skills they require to gain employment and set themselves up for a successful future.

The Barclays Jersey Boat Show is a regular highlight and I have been involved with the show (and the Barclays’ Duck!) for seven years. Each year the funds we raise for our chosen charities make a real difference and it is great to see so many of my colleagues volunteering to help out.

I am also really excited by the Barclays Eagle Lab and what it offers the island. We have resources for prototyping, mentors and business events to provide advice for start-ups and businesses looking to expand, and the tools to help individuals grow their digital skills. On a personal note, learning how to use the 3D printers was great fun!

fewer women in leadership roles than men, in business and other sectors. So I’d say it is fact but, again, many organisations and businesses including Barclays are actively working to ensure that it is not a factor in the makeup of their leadership teams.

What are your goals/ambitions?

What's the best piece of advice you have been given

To make a difference and leave things better than I found them.

Treat others as you would like to be treated – it surely can’t be any clearer than that!

Sounds like a cliché, but I find the work that we do with Barclays’ Shared Growth Ambition is very rewarding. Activities such as Code Playground, the Digital Eagles and LifeSkills have the potential to improve people’s skills and their prospects for gaining employment. If the work that I do changes just one life for the better (although hopefully many more than one) then it will have been worthwhile.

Describe yourself in three words

Do you have a view on female 'quotas' in the boardroom?

There are certainly benefits to organisations actively helping more women to gain the skills and experience they need to reach the boardroom and this is something that is supported at Barclays. Indeed in Jersey, Barclays has a 50/50 ratio of managing directors and directors.

Have you faced any gender issues in your career so far?

I can honestly say that I haven’t. Barclays is very supportive of gender diversity and has a number of initiatives in place which address this issue in a very positive way, such as the Women’s Initiative Network and our diversity workgroup which does, of course, deal with all aspects of diversity, not just gender.

Is the glass ceiling fact or fiction?

It is not something I have personal experience of however there are undeniably

Generous, dedicated, fun. That was harder than it should have been!

About Barclays Barclays is a transatlantic consumer, corporate and investment bank offering products and services across personal, corporate and investment banking, credit cards and wealth management, with a strong presence in our two home markets of the UK and the US. With over 325 years of history and expertise in banking, Barclays operates in over 40 countries and employs approximately 120,000 people. Barclays moves, lends, invests and protects money for customers and clients worldwide.

For further information about Barclays, please visit our website home.barclays

GUER NS EY PE OPLE

W

RS KE W AL

FU PR N AX D I S SI G R FM O UP

Phoebe is originally from New Zealand, has joined as an associate in the dispute resolution team, having relocated from the global law firm’s Cayman office where she has worked since last year.

Chris Hickling, managing director, of International Fund Management Limited said: ‘Shaun is a highly experienced director and will be a key asset to PraxisIFM Funds Group.’

Julia Wilkes, managing director, Praxis Fund Services Limited added: ‘Lorna is a very welcome addition to the board. We are looking forward to working with her,’

She is looking forward to her new challenge: ‘Moving to a new island is a fantastic challenge and I am looking forward to learning more about Guernsey and its legal system. I want to continue strengthening the Walkers network through my relationships with the team in Cayman. The advantage of working with a global law firm is the opportunity to work with lawyers from all over the world spending time in other offices.’

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H BE IT T IM EH LEY AG OR E NE

Craig’s experience includes auditing clients across a number of sectors in the finance industry and auditing and preparing accounts for companies including London-listed entities. Prior to joining Vistra he was an assistant manager at BDO Limited.

Shaun joins as director of International Fund Management Limited and Lorna Morton becomes a director of Praxis Funds Services Limited. Shaun has more than 25 years’ experience throughout fund administration, transfer agency, fund custody, trustee and AIFMD depository lines of business. Lorna joins Praxis having spent around 10 years as a lead relationship manager for a large private equity client.

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Martin joined the business last year as financial reporting manager. He has 19 years’ experience in the financial services sector.

In his new role he is responsible for overseeing Vistra’s valuations, depository, share registry and accounting teams.

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Martin becomes Vistra’s head of operations and Craig Shorto is a new fund accounts manager.

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These people made a great move

JO JALOWIEC

KATE CLOUSTON

SEAN MUR

Jo is BWI’s new digital marketing director.

Kate has been promoted to deputy chief executive.

Sean is SANNE’s new head of fund services for the EMEA region.

Since joining the agency in 2015, Kate has been responsible for leading business delegations in South East Asia, North America and Europe. Her work has focused on evaluating these markets and implementing development strategies around emerging financial products, and attracting new companies or business to Guernsey.

Based in SANNE’s Luxembourg office, Sean will take responsibility for the development of the company’s fund services offering, working with all of the alternative asset product area divisions.

Sean has joined the firm from Orangefield where he was managing director.

Chief executive, Dominic Wheatley, said:

Martin Schnaier, SANNE’s managing director of alternative assets:

‘Kate brings a tremendous level of energy and dedication to the international role. She has given Guernsey a consistent and knowledgeable presence in the parts of the world from which much of our future financial business will be derived. This promotion recognises her vital part in the island’s offshore promotional efforts.’

‘Sean’s unique skills set, valuable industry experience and leadership will be a huge advantage for our growing business. He has a long track record of developing and expanding offices and has an impressive depth of knowledge within our industry.’

Jo has over 20 years’ marketing experience with a particular focus on digital strategy and marketing. Thorough a career based in both Australia and London, she brings a thorough understanding of how targeted digital marketing can yield positive results, either independently or alongside more traditional print or broadcast media.

Group managing director Chris Betley said: ‘Jo has worked with a broad range of clients.

We are confident that with Jo’s additional and possibly unique experience, we will now be in a stronger position to offer online solutions, supported by our creative and marketing teams in Guernsey and Jersey.’

Meet the team Left to right Jenny Melissa Nadine Liga

Lisa Anna Becky Kirstie Patrick.

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ALISON MACKRILL

Gavin joins Ogier as partner in the private client and trusts team. He provides contentious and non-contentious fiduciary services to high net worth individuals, corporate clients and charities. He advises on all aspects of trust and foundation law and on regulatory and general private client matters and has an interest in sharia compliant structures.

Moira has been appointed director of SPF bringing 30 years’ experience in financial services.

Alison has been appointed partner in the group’s Guernsey private clients and trusts team.

Moira has broad knowledge of the wealth management and lending markets having worked for a number of private banks.

Marcus Leese, practice partner, said:

SPF managing director Pierre Blampied said:

‘Gavin's appointment demonstrates the continued growth of our Guernsey office.

Ogier's business is built on the quality of our people. We're committed to attracting, training and retaining the most talented and able people to best serve our clients. I'm delighted that Gavin has chosen to join us.’

‘Moira has established an excellent network of key business partners within Guernsey and in London, and she has the breadth of knowledge necessary to assist even the most complex situations. She’s an excellent fit to join us and we look forward to working with her to further build on our excellent reputation in the market.’

Alison’s broad legal experience covers trust advisory work, employee share schemes and commercial trusts, along with advising on regulatory matters. She has previously been awarded the STEP Founder's Award for Outstanding Achievement and the Corporate Livewire - Guernsey Private Client Lawyer of the Year.

Wendy Benjamin, group partner, said:

TE SEA WE RN L ST AT AN IO D N AL

‘We are delighted to welcome a lawyer and leader of such calibre to our team and firm.

Alison’s wealth of experience and vast knowledge of Guernsey law is an invaluable asset, which enhances Appleby's position in the offshore legal industry and in Guernsey.’

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GAVIN FERGUSON

TINA ASHER

NICKI HARRISON

DAVID CROOK

With more than 10 years’ audit experience, Tina has been promoted to audit manager at Saffery Champness.

Nicki is Travel Counsellors’ latest Guernsey franchisee.

West Sealand International, has appointed David Crook as a director.

Joining a network of more than 1500 experienced travel professionals and 250 support staff in the UK, Nicki will provide a personal service for people booking holidays and travel around the world.

He will bring 30 years’ experience in the IT and finance industry to his new role. David has moved to West Sealand Digital after seven years at a local IT consultancy.

Looking forward to this significant step in her career she said:

David who has an MBA from Southampton University, said he was looking forward to helping build West Sealand’s Guernsey headquarters:

Tina joined Saffery Champness in 2015 as assistant audit manager after moving to Guernsey from Jamaica. In her new role she will join the existing management team and help to build and grow business relationships.

Audit partner at Saffery Champness, Jeremy Ellis, said: ‘Tina has been an asset to the team since she joined us and I am delighted to be able to promote her to manager. She will further enhance the management team’s technical capabilities and provide support to our trainees mentoring scheme.’

situations.gg

‘ Being part of the franchise means I can research exclusive excursions while still giving good value for money. With the bonus of the Travel Counsellors’ financial trust - which protects your booking - and being ATOL bonded, I can give customers top quality care and build relationships to make the most of every trip they take.’

‘This is an incredibly exciting time to be joining. West Sealand has an enviable network of high calibre specialists through its offices and consultants in in Washington, Scandinavia, United Kingdom, and Saudi Arabia.’

The recruitment people

email team@situations.gg, call us on 710639 or visit www.situations.gg

The Sure Customer Service Awards 2017.

Who’s gone that extra mile for you?

If you know an individual or team in Jersey that has gone the extra mile, we want to hear from you.

Now is your chance to earn them the recognition that they deserve!

There are two ways in which you can nominate: By post: Simply fill in a nomination form available at various places across the island. Then just drop it into one of the nomination boxes.

Online: It’s quick, easy and free.

www.thecustomerserviceawards.com Drop your form off at any nomination box across the island

Vote now at www.thecustomerserviceawards.com

Closing date for nominations is 5pm Friday 8 September

Supported by:

THE SURE CUSTOMER SERVICE AWARDS HAVE LAUNCHED IN JERSEY Now in its seventh year, the initiative, organised in association with the Jersey Chamber of Commerce, Jersey Business, and local Jersey businesses highlights and celebrates exceptional customer service on the island.

Great customer service is vital for business success. At Sure we have a dedicated team of employees in our shops, on social media and at the end of the phone so we understand what is required to meet the high expectations of customers in Jersey.’

The awards are comprised of 12 categories rewarding exceptional customer service providers in multiple business sectors. One overall winner is then selected from the 12 category winners.

Ricky Davey, managing director of Roberts Garages, said:

Sure customer experience director, Charlotte Dunsterville, said: ‘Sure is pleased to sponsor the Customer Service Awards and be a part of rewarding those who go above and beyond in the name of good customer service.

‘We are pleased to be sponsoring a silver category at the Sure Customer Service Awards for the second time. Our whole team is passionate about providing excellent customer service and we were keen to participate in order to recognise great service in the island across all industries.’

The Customer Service Awards founder, and managing director of Collaborate

Communications, Julie Todd, said: ‘Having so many fantastic island businesses on board as sponsors means that we can continue to make the awards one of the stand-out events of the year. Rewarding islanders for a job done well makes for a great evening. We will work together to make this year’s awards the best yet.’

The Jersey awards event will be held at the Radisson Blu Waterfront Hotel, St Helier, on Thursday 5 October, as part of National Customer Service Week. Jersey Business will be announcing a series of customer service related events for that week later this year.

Photo: The team from The Inn, winners of the Food, Drink & Hospitality Award 2016

A professional and friendly team with many years experience in the live event industry

Centre Stage Guernsey

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let’s talk your career

SIMON STORMER AND JACKIE FOOT

Vicky has been appointed associate director bringing more than 20 years’ experience in the trust industry to the global private client team.

Simon is the bank’s new Channel Islands COO and Jackie becomes COO for wealth management.

She joins the firm from Bank of Singapore’s trust company where she was executive director. Her new responsibilities will include working with other directors to implement Hawksford’s business plan, whilst also developing new business opportunities and client relationships, ensuring quality service for existing clients, as well as team oversight and development.

Vicky is looking forward to her new role:

Andreas Tautscher, Chief Country Officer, Deutsche Bank Channel Islands, said: ‘With Jackie and Simon’s considerable international compliance, governance and operational experience, these appointments position us very strongly to carry out our strategy in the Channel Islands.’

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‘I am looking forward to building on my experience at this time of exciting growth and development, and working with clients from other regions too.'

Simon will have responsibility for the bank’s governance, risk and controls as well as infrastructure, including technology and corporate real estate services across Guernsey and Jersey. In her new role, Jackie will focus on enhancing the bank’s wealth management platforms ensuring effective service delivery for clients of Jersey, Guernsey and the Cayman Islands.

ANTON SEATTER, MARK FLEMING, AND DANIEL PRINGLE Anton, Mark and David have been appointed directors within the corporate and private client team.

Based in SANNE’s London office, Anton will represent all of SANNE’s CPC divisions working closely with UK-based advisory networks and clients. Mark has extensive expertise in overseeing complex fiduciary structures for global cross-border UHNW families and Daniel has over 16 years’ industry experience in managing trust and other fiduciary structure of global UHNW families.

Steve Sokić, managing director of SANNE’s corporate and private client businesses, said: ‘These appointments will further strengthen our already strong value proposition and profile in markets globally and help further grow our business.’

S PR CH TAN IV AR D AT TE AR E RE D BA D N K

VICKY MILLS

MARTIN ROWLEY

BRIAN MCCARTHY

JAMES HORRIGAN

Martin has joined Deloitte LLP’s Channel Islands practice as leader of the Jersey tax team. With 25 years of international tax experience, Martin joined Deloitte in 2012.

He is currently a tax partner in the US business tax group in London and advises on corporate and international tax matters for clients across a range of industries.

Brian, the managing director of Le Masurier, has been appointed to the South East regional board of the Royal Institution of Chartered Surveyors as a non-executive.

James Horrigan has been appointed director in the firm’s wealth intermediaries team.

Jo Huxtable, Channel Islands tax partner, said: ‘Originally from Jersey, Martin is excited to bring his outstanding tax credentials to our clients in the Jersey market. He is going to make a significant impact on the market as well as providing excellent support our Jersey tax team.’

He will be representing Channel Island interests and acts as deputy Chair of the RICS Jersey local members’ group.

He is delighted to have been appointed and said: ‘I would like to make myself available to members to act as their representative to voice any issues or matters that they would wish to be raised at board level. I will continue to serve as deputy chair of the Jersey local members’ group’.

James brings with him a wealth of knowledge in financial services, with specific focus on the wealth management, treasury and fiduciary sectors. He will be responsible for engaging with professional intermediaries, both on and off island, as well as developing the bank’s offshore intermediary network.

Adam Buxton, head of wealth intermediaries, said: ‘We are delighted to welcome James to Standard Chartered Private Bank, further strengthening our growing team. His experience, strong commercial awareness and collaborative style will have a positive impact on our business.’

email us at: letstalk@glsrecruitment.com

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ROBERT LEA

PAUL DENTSKEVICH

Robert Lea has been appointed head of global equity research.

Paul has joined Crestbridge as risk director.

The newly created Jersey-based global equity research team will provide analysis for the equity solutions range as well as Ashburton’s multi asset strategy. The team, led by Robert, will provide investment managers with in-depth analysis, to suit ever changing market conditions and clients’ needs to manage risk effectively.

Paul has over 28 years of financial services experience, with particular focus in the area of risk management, investment management and corporate governance of hedge and other multi-asset funds. He has extensive boardroom experience across a diverse range of structures and, in his previous role as senior risk manager, was director on a number of subsidiary companies within Brevan Howard.

Director, Elliot Refson said: ‘I’m delighted to welcome Paul to Crestbridge. His deep risk management expertise and market knowledge will be a huge asset to the business.’

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WILL JARDINE, SHERIN SUGEESWARAN, FRANCES ALLAIN, LAURA BUTLER AND ELLEN CHISLETT. Intertrust has promoted Will, Sherin, Frances, Laura and Ellen to associate directors across the performance & reward management, corporate, funds and capital markets service lines. They will all play a role in working towards fulfilling Intertrust’s global strategy as well as the objectives of their individual service lines.

Simon Mackenzie, managing director of Intertrust, said: ‘Will, Sherin, Frances, Laura and Ellen have frequently demonstrated their expertise and dedication to Intertrust and have consistently delivered the high quality client service that we pride ourselves on; these promotions are well deserved.’

Ian has significant experience advising on cross-border transactions in the real estate, financial services, energy and technology sectors, with a particular focus on transactions involving the Middle East and North Africa.

Nuno Santos-Costa, managing partner of Collas Crill in Jersey, said: ‘Mike and Ian’s knowledge and expertise will be key drivers in the continued growth of our corporate and commercial team. They will enhance our BVI legal offering, providing BVI legal advice in the London time zone.’

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‘We are excited to bring somebody with Robert’s calibre of equity research and analysis in London and Asia to Jersey, enabling Ashburton to create what we believe is a unique research capability.’

Mike and Ian have been appointed partners in Collas Crill’s corporate and commercial team.

Mike’s corporate practice spans mergers and acquisitions, corporate migrations, group restructurings, joint ventures, shareholder disputes and public offerings.

PA BA RT KER N ER S

Jonathan Schiessl, chief investment officer, said:

MIKE WILLAMS AND IAN MONTGOMERY

BRADLEY BISMARK

LYNNE GREGORY

The bank has appointed Bradley as head of financial crime compliance for the CI and Isle of Man.

Lynne has been appointed senior associate with the firm.

With responsibility for the financial crime risk function, Bradley has almost two decades of experience in risk and financial crime analytics in a banking environment, having worked in six different countries for HSBC. Commenting on his new role, Bradley said: ‘The global landscape in which banks exist has changed significantly in recent years, including in their obligations to comply with rafts of new regulation. We are committed to staying at the cutting-edge of international developments in this area, so that customers benefit from a robust, efficient and reliable banking service.’

call us on: 01534 852 111

Lynne brings over 25 years of practical law expertise covering a wide range of disciplines including litigation and regulatory compliance. In her new role, Lynne will draw from her experience, taking on a broad range of civil and commercial litigation with focus on international fraud and asset tracing.

Stephen Baker, senior partner, said: ‘With her background in multijurisdictional litigation and compliance, Lynne brings valuable experience in several business areas that we are looking to expand. I’m proud to be able to offer Lynne’s expertise to our clients.’

or visit: www.glsrecruitment.com

Microsoft’s Azure Cloud Technology launches in the Channel Islands Cloud based technology has continued its growth across the

Calligo remains at the forefront of cloud based privacy, which

globe, with Gartner’s prediction in 2012 that more than 80% of

was a key driving force behind establishing Calligo. I have

all IT services being delivered by cloud in all its forms by 2020

always believed that businesses and individuals would realise

likely to be exceeded. Whilst most countries around the world

the importance of knowing who has access to their data, where

have benefited from a wide range of options, the Channels

the data resides and what laws are applicable. The EU has now

Islands’ access to some of these innovative technologies has

implemented their new General Data Protection Regulation (GDPR),

been restricted by data residency concerns, as well as latency

which encapsulates these principles, but will add a very large

and bandwidth issues.

burden on businesses to classify and manage their data moving forward. Calligo has also recently launched a unique set of GDPR tools and services that help businesses meet their new obligations.

Gartner’s prediction in 2012 that more than 80% of all IT services being delivered by cloud in all its forms by 2020 likely to be exceeded

These services include a GDPR Jumpstart service, providing an invaluable RAG status for your GDPR readiness, highlighting existing risks as well as providing a remedial plan and an ongoing strategy to remain compliant, all of which is delivered and maintained through our online GDPR portal.

Calligo has been at the forefront of cloud in Guernsey and Jersey since its launch in 2012, offering the first Pan-Island Infrastructure

Our follow-on service is our GDPR Enablement, which uses the

as a Service (IaaS), the world’s first all flash IaaS offering and

GDPR Jumpstart output as your baseline GDPR compliance

remaining the only global multi offshore cloud service provider with

status. Calligo’s ISO 17024 accredited EU GDPR F and EU GDPR

cloud services in Cayman, Bermuda, Jersey, Guernsey, Switzerland

P qualified consultants will work with you to build your plan for

and Singapore, with Luxembourg and Hong Kong to be added in

adherence to the new Regulation.

2017. It’s no surprise that Calligo continues to lead the way and it is with great pride and excitement that we are able to announce

Finally, we’re very proud to announce the launch of the Channel

that Calligo has been selected as one of a very small number of

Islands first Data Protection Officer as a Service (DPOaaS). GDPR

global launch partners for Microsoft’s Azure Cloud platform - MAS

stipulates that under certain conditions the appointment of a Data

(Microsoft Azure Stack), in conjunction with our technology partner

Protection Officer is mandatory - for many organisations this will

Lenovo.

not be the case, however once the full extent of the regulation is understood, it quickly becomes apparent that it could be a

The MAS service across Guernsey and Jersey is a partnership

significant risk not to appoint one.

between Calligo, Microsoft and Lenovo and will allow us to remove data jurisdiction, latency and bandwidth challenges whilst

The DPO position demands a combination of skills not only from

also reducing costs. Calligo will also be deploying MAS into

a compliance/legal perspective, but also one that has a thorough

Luxembourg simultaneously as the service goes live in the Channel

understanding of technology and how best to solve potential risks.

Islands.

Calligo has put together a dedicated GDPR team who have the skills and experience in all these areas and combine to provide a

The services available will include standard IaaS services, as well

comprehensive DPOaaS to ensure

as an innovative set of Platform as a Service offerings such as

you can effectively monitor your

Key Management as a Service, SQL as a Service plus many more.

ongoing compliance and efficiently

Uniquely, these can be combined with Calligo’s other services

deal with GDPR requests.

including our IaaS solution CloudCore, Desktop as a Service, DR as a Service and Backup as a Service, delivering a far greater set of

Julian Box

service offerings.

CEO & Co-Founder, Calligo

For more information visit:

www.calligo.cloud/azure

WHY USE A BUSINESS COACH?

ACT ION COAC H

Alan Chapman owner of ActionCOACH As a small business owner myself and with over 30 years of big business experience behind me, I know how stressful setting up and running your own business can be.

Suddenly, that idea has become a reality and you find yourself pouring everything you have into it, until one day you realise you are: • Working longer hours than you ever thought you would

coaching franchise *, I will work with you in five key areas, helping you build a better balanced business: • Sales • Marketing and advertising • Team building & recruitment • Systems & business development • Customer service

• Wanting to regain the vision and dream that led you to starting your business in the first place

My goal is your goal: to spend less time working in your business and more time working on your business. Amazingly, the result will be less time spent actually working but a higher net profit.

•

* 2017 Franchisee Satisfaction Award from Franchisee Business Review, an independent market research firm focused on franchisee satisfaction and performance.

Looking for a work/life balance that allows you to run a successful business but also spend quality time with your family and friends

As a certified business coach with ActionCOACH, the world’s largest business

How do I know it works?

Working with likeminded business owners,

ACTION COACH ADVERT

I guide them in putting in place the necessary systems, strategies and tactics to take their businesses from surviving to successful. I am based in the Channel Islands and have worked with a wide range of businesses including financial services, retail, trades, electrical, gardening, architects, estate agents, marketing, distribution, bars and nightclubs.

What does success look like?

It’s a commercial, profitable enterprise that works without you needing to be subsumed by it 24 hours a day. As your business coach I will help you reach success, acting as coach, guide, mentor and that one friend we all need who tells us like it really is.

Still not convinced?

Contact me for a free, no obligation consultation and I can guarantee by the end of the session you’ll be asking yourself why you didn’t contact me earlier.

Take a long hard look at your personal data With less than a year to go before the EU GDPR and Guernsey’s equivalent regime become reality, now is the time for businesses to get to grips with their existing arrangements and to ready themselves for the new world of Data Protection.

Our packages are built around your needs, but, as a flavour, these are the kinds of services we have on offer:

Data Audit and mapping of P&Ps, data handling, cyber controls, human controls and agreements



Preparation of requirements

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Provision of Data Protection Officer (or equivalent) or ongoing DP support

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Periodic internal audit style reviews



Phone-a-friend for ongoing reliable, ad hoc guidance and support

enhanced

P&Ps

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meet

new

For a no obligation chat to see how Centillion can best help you to be prepared for Data Protection, contact Haley today.

COM PL IANC E

Data protection in a risk and compliance world - prevention or cure?

It seems you can’t go anywhere these days without hearing the four-letter acronym, GDPR. Haley Camp of Centillion Consulting discusses its place in risk management and compliance frameworks.

Data protection laws have existed for a long time now. Guernsey’s law dates back to 2001 and similar is true in the EU, so why do they no longer stack up?

access to hardware, how staff access and use systems and staff training should all be topics considered and mitigated as part of an effective risk framework.

Quite simply, back then none of us could have imagined the tsunami of technical change that would take place in less than two decades. In 2017 we put our entire lives online with no real thought as to who uses the information we put out there and for what purpose; that simply was inconceivable in 2001.

This provides a natural segue into compliance

GDPR, or the General Data Protection Regulation, is the EU’s modernised approach to safeguarding natural persons’ fundamental rights in relation to the processing of their personal data, essentially, by giving them more say in how their data is collected and used.

Is it on your risk management radar?

People talk about the increasing cost of compliance and, whilst there is no doubt that data protection will require more robust compliance monitoring frameworks to be in place, it is not the cost of ensuring compliance that businesses should be worried about.

GDPR increases the maximum potential fines to significant levels with the limit set at 4% of annual turnover. Guernsey’s approach is expected to be along the same lines.

The reality of this is that fines at the highest scale could wipe out a business in one fell swoop.

Anybody in the business of collecting personal data should consider the risks to them of a data breach. And this isn’t just customer data we are talking about either; personal data includes staff records, relationship management databases and potentially more. Does your business have an approach to risk management to ensure that any data held is done so with requisite authority, is securely held and is handled responsibly?

Non-compliance will be too costly to risk

Let us not also forget that data protection goes hand-in-hand with today’s online practices, so any risk management framework must extend to cyber security. Businesses must have a strategy and structure in place to ensure that their technological presence is as protected from cyber failure as possible, both external and internal threats.

Even if your business can weather the fine, what about the regulatory damage and the risk of reputational collapse? Data protection is becoming a serious business indeed.

In this brave new world of data protection, non-compliance won’t only be about the big, visible public breaches either. Businesses will have obligations to self-confess internal breaches. Poor controls will equal big trouble for those in default.

Encryption, firewalls, spam filters, restricted

In the last year the UK has seen a significant increase in the ICO’s willingness to take businesses to task over data protection. PwC research tells us it issued 35 fines in 2016, up from 18 in 2015. It’s irrelevant that the aggregate level of fines in 2016 was a mere £3,245,500; France recently fined Facebook €150,000 for data protection breaches and it’s only too easy to imagine that being significantly more under GDPR.

Do you know what personal data your business holds?

With less than a year to go until the full weight of GDPR and Guernsey data protection will be upon us, there has never been a better time to get ready. Risk management and compliance must be central to those preparations by asking core critical questions.

• Why do we hold that particular information?

• If we didn’t hold it, what would the impact be?

• If we lost or leaked that data, what is the potential risk of harm?

Add into that formulation of a compliance framework.

• If we must hold that data, how will we monitor that it is collected and maintained appropriately?

•

Do our policies and procedures accurately control where we may legitimately use that information and the instances in which we must not?

• Does our controls environment safeguard the integrity of personal data held?

Prevention is the only cure Would well qualified, respected, experienced business leaders allow themselves to fall foul of their legal and regulatory obligations?

Of course not.

Data protection should be no different.

Save yourself money, regulatory sanction and potential apocalypse by getting it right from the start.

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C O M P LI A N C E

A changing landscape LMRR director Stephen Trevor discusses changes in risk and compliance over the firm’s first 10 years.

When LMRR started out 10 years ago, the risk and compliance environment for firms regulated by the Guernsey Financial Services Commission was very different.

Anti-money laundering requirements were based on guidance and high level regulations, and the GFSC lacked an enforcement team and powers to make public statements and impose financial penalties. Risk management was ad hoc in most firms and the 2007/2008 financial crisis had yet to hit us.

As a result of changing international standards, partly driven by the financial crisis, today’s regulatory requirements are more demanding, and the consequences of perceived failures can be more public and more personal.

Over the same period, LMRR’s permanent team has developed from Chris Le Marchant, based in an office at home, to five full-time professionals supplemented by consultants.

I joined in 2012 and Maxime Le Tocq, Suzette Trubuil and Perrin Carey between 2013 and 2017.

Over those 10 years LMRR has worked with a range of clients, some for almost as many years, as they have developed. We’ve helped some through difficulties and it’s been a pleasure to see clients’ successes. In some cases, disposal of the founders’ interests has shown the value of their timely investment in risk and compliance frameworks.

What works?

In our experience as regulators, and at LMRR, we’ve seen what works and, in a few cases, what doesn’t. In risk management terms we look at ‘effectiveness’, which is an increasing regulatory focus. Although our client-base is focused on financial services and professional firms, businesses in all areas will be familiar with the gaps which can arise

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between what management believe is in place, or how a process is supposed to work, and what actually happens.

reporting function tracks how staff have developed and performed against specific learning outcomes.

Identifying those gaps can be easier for us because of our experience of issues and processes across a large number of firms.

Whatever the remit, we apply our regulatory experience, which includes three respected former GFSC directors/deputy directors, and our broad finance sector experience.

Regulator’s current approach

LMRR’s directors have also served as NEDs of financial services businesses, which gives a different perspective, and within the team are senior level CISI, STEP, ICSA and educational qualifications and professional memberships in anti-fraud and operational risk. Maxime’s and my legal backgrounds can be helpful to clients including those facing, or avoiding, enforcement action.

Services • Governance, risk and compliance consultancy • Regulatory issues and onsite consultancy • LearnMRR training • Risk management and CMP design and delivery • GDPR consultancy • Enhanced due diligence • CO and MLRO roles LearnMRR To complement existing services above, we’ve recently launched an online ‘blended learning’ platform, LearnMRR. This integrates online and face-to-face training and provides clients with a robust training framework tailored to Guernsey and their own procedures.

It has three levels, from staff induction through to senior management, and can cover any subject area. A comprehensive

We’ve welcomed the GFSC’s adoption of PRISM (Probability Risk Impact SysteM) which, for many firms, creates more overlap with areas such as strategy and operational risk on which management would focus even if the firm was unregulated. It’s proved a useful framework for firms to consider their own risks and take their risk management beyond the reactive to the forward-looking.

Our experience is that the GFSC does not require risk management to be complex, but does require robustness.

2017 This will be a busy year for our clients.

The new financial crime handbook will be introduced, CRS reporting starts and new data protection requirements under GDPR will need to be considered. As always, we will do our utmost to help clients to manage these changes. For example on GDPR, we have ensured that Suzette Trubuil is qualified as an EU General Data Protection Regulation Practitioner. With her skills and Perrin Carey serving on the GDPR working party we are well positioned to advise and train in this area.

Meanwhile outside the office We decided to mark our 10th anniversary by supporting a Guernsey charity, rather than hosting the traditional drinks reception. We selected Safer LBG, which works with victims of domestic abuse in Guernsey. Our contribution will allow Safer to employ someone part-time to help the young person independent domestic violence adviser. We have also sponsored a rowing team for the 2017 season: LMRRowers. The team includes our own Perrin Carey in a coxed, mixed squad.

2007 - 2017

As Guernsey’s leading recruitment agency for permanent, temporary & contract personnel solutions, we use insight & intellect to connect talented people with great businesses.

We help companies find the people who will make a lasting difference, from graduates determined to make their mark, to top-ranking business leaders, we recruit at every level.

The recruitment team are here to listen, so if you’d like to make a lasting impact, let’s talk.

Call us on 01481 701616, email hello@source.gg, visit www.source.gg

COM PL IAN C E

Beware the brain drain Steve Duckworth senior recruiter from Source Recruitment gives us a few tips on how to retain a skilled compliance team.

2017 has already proven to be a challenging year for compliance officers.

The ever-evolving regulatory landscape, the recent FATCA deadlines and of course the big-picture uncertainties over global policies mean those on the front line of regulatory change are under more pressure than ever.

At a time when financial service firms need excellent compliance staff, many are leaving their roles because their work isn’t valued, stress levels are high and, in some instances, their very presence is viewed by their colleagues in a negative light.

However, regulations are not going away, in fact the role of the compliance officer is only going to become more valuable. If businesses are not compliant they will not be able to operate effectively, and if you can’t keep your compliance staff the company's bottom line will be affected.

Compliance teams under pressure The compliance officer and MLRO roles carry tremendous responsibility and liability.

Compliance roles have become incredibly broad as regulations continue to increase at an almost unmanageable pace.

There are huge amounts of international level initiatives and legislation - such as AIFMD and MIFID II - which is not strictly compliance but which is often placed at the compliance officer’s door. With the new data protection rules coming into force, this must be balanced with the need to gather information and is yet another burden that many compliance officers must also carry.

The compliance landscape has also become more fractured, with subsets of compliance such as anti-money laundering, countering terrorist financing, sanctions, corporate governance, bribery and corruption and so on. All of these have become specialised in their own right. So a compliance officer needs to be able to keep pace with each subset and advise the board accordingly.

Of course, the international basis of many Guernsey businesses only makes the job harder. Compliance officers need to be develop an understanding of regulations from many jurisdictions.

It’s no wonder that compliance personnel

are feeling the strain. The natural stress of the role, coupled with a poor company compliance culture will potentially drive valuable employees out of the job.

Compliance culture or compliance vulture?

Think about your corporate culture and the board view of compliance. The way that compliance is perceived is how the compliance officer will be viewed, and that is often negatively. The board ultimately sets the tone for the organisation and if it sends out the message that compliance is ‘just something that we have to do’ then staff will follow this mentality and the compliance team will be facing an uphill battle.

We have heard of situations where the compliance officer is seen as working against the team, not as part of it. Or even that other staff think they work for the regulators themselves. Couple that sentiment with the natural pressure of the role and you are just a resignation letter away from losing a key member of staff.

Compliance officers need to feel valued, and that value is driven by company culture.

Hold on tight Retaining and growing your compliance team will become even more important.

Quite simply, a company-wide culture of compliance is fundamental to doing business in today’s world. Long-standing employees will help you navigate the complexities and shifting sands of international regulations.

Hold on to them like your business depends on them - because in many instances it does.

How to keep ‘em happy Misuse your compliance staff and you will lose them when you need them most. And skilled people will leave the industry, making it harder than ever to fill these important roles. Instead, take a look at the atmosphere within which they operate: • Send the message down from the boardroom that compliance is a business imperative; • Support them and give them the opportunity to give feedback on the challenges they face; • Watch out for stress levels, especially

around reporting deadlines and audit periods.

Source Recruitment has an unprecedented number of both compliance vacancies and good candidates and we understand the complexities of this role. Whatever the vacancy or job level, our aim is to ensure the right people fill the right roles to ensure long-term staff stability and wellbeing.

What makes a great compliance officer?

It’s not just a question of following a rule book, compliance officers need to be able to strike a good balance between commerciality and compliance.

Source Recruitment defines some of the attributes and skills that will make a great addition to your compliance team.

• Having a logical mind and good judgement is essential - many compliance considerations do not come down to black and white answers; •

Being confident in your abilities is crucial – a good compliance officer will constantly need to make judgement calls and be prepared to back-up their assessment;

• A good compliance officer will need a thick skin and won’t be everybody’s best friend; • A modern compliance officer is pragmatic, has strength of character and is able to push back against decision makers; • Problem-solving skills are also essential in order to be able to provide solutions to complex challenges; •

Strong communication skills are a must to be able to manage relationships across the business as well as with the regulator and also to deliver training across the business;

• Requires expert knowledge of the particular product range as well as the ever-changing applicable laws and regulations.

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redwoodoffshore.com

GUERNSEY // JERSEY

A new perspective on business risk A MODERN APPROACH TO COMPLIANCE

Redwood is a modern customer focused business risk consultancy, with the core principle of quality service delivered by industry experts.

James Wood

David Farrelly

Lance Barclay

Jayne Button

GUERNSEY

GUERNSEY

GUERNSEY

JERSEY

CEO

Senior Manager

Senior Manager

Senior Manager

For further information about Redwood Risk Services or to arrange a meeting please contact James Wood:

Email james.wood@redwoodoffshore.com Call +44 (0) 1481 743 694

COMPLIANCE / AML SUPPORT

|

INDEPENDENT REVIEWS / DEVELOPMENT

|

REGULATORY SUPPORT

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DATA SECURITY

|

CO SEC

COM PL IANC E

The modern approach James Wood, founder and CEO of Redwood Offshore Limited, believes the time is right for a modern approach to compliance.

Compliance, AML/CTF and MLRO/MLCO are terms that have become part of the everyday language for many Channel Islands businesses.

In recent history we have seen compliance teams banished to the dark corner of the office, where perceived over-bearing scrutiny was seen to interfere with commercial growth. High profile enforcement cases, prohibitions and regulatory fines have highlighted bad practice and poor compliance cultures.

But attitudes have changed and this has led towards a growing appetite for high calibre individuals seeking a career in compliance and AML. A compliance culture The most successful companies adopt a good compliance culture. Compliance should be a shared responsibility across the whole company, from the boardroom through to client-facing and business development functions. Employers and their employees now buy in, and are taking responsibility, ensuring compliance with the ever-changing regulatory framework.

Client needs and expectations can be complex, but with a compliance culture firmly embedded within the company, adherence to regulations is no longer scary and becomes the norm.

Technology has a growing role to play Traditionally, compliance training has been sporadic and took the form of a classroom set-up, crammed with fidgeting staff with no guarantee that they are listening to the trainer. Subsequently, ‘death by PowerPoint’ ticked the boxes, but this approach did not suit all learners. The passive lecture approach to learning is being discredited as an effective teaching method, as technology becomes an integral part of the learning process.

From a time and cost perspective, it is cumbersome for businesses to achieve

proper staff training. Redwood believes the future lies in the use of interactive video. This enables active participation; transforming the viewer into a user, giving them the ability to make choices in a self-directed manner. Online learning is becoming the norm and is how employees now want to learn. The learning process is enhanced through better engagement, which leads to better cognitive recall and minimises business disruption Sophisticated interactive learning also has robust and comprehensive reporting.

Every mouse click and keyboard input can be tracked, giving in-depth analytics on employees’ knowledge, capabilities and skills gaps. This enables the employer to make fast, accurate, superior data-driven decisions.

Redwood is convinced that the future of compliance education will be technology based and accessible online, particularly as it becomes more of a shared responsibility.

A fully interactive AML training solution will be launched by Redwood later this year.

This will provide a tailored route through AML training, not only based on your industry sector, but also on the level of experience and the employee position in the company.

Online-based training will also allow for immediate regulatory and advice updates with no need to wait for the next scheduled training session. An up-to-date resource centre is created for employees to refer to whenever required. This is just the start of Redwood’s commitment to developing innovative technology to bring efficiencies to our clients’ business operations.

Outsourcing, the regulator and a global reputation Businesses are increasingly utilising external resources to assist and enhance their compliance function. In Guernsey, a number of companies already outsource some or all of their compliance resources and roles to the team at Redwood.

This outsourcing with personal day-to-day support enhances company efficiency and ensures that compliance standards are being met.

Redwood has recently branched out into Jersey and with experienced and professional compliance and AML experts in both islands Redwood expects to see an increase in the number of companies realising the cost savings and flexibility of working with a pan-island business risk consultancy company.

There may be differences in the regulatory framework and requirements in Guernsey and Jersey, but in Redwood’s experience, there is consistency in the approach to supervision by both regulators. There is also an increase in demand for business support for other jurisdictions and Redwood believes that this is based on the global reputation and dynamism of the Channel Islands. Companies in fast-growing jurisdictions such as the Caribbean recognise the success of the professional and well-regulated financial services industry in Guernsey and Jersey and want to emulate this achievement by enhancing their own compliance processes.

Outsourcing can bring cost benefits, time saving and staff efficiency, but it is vital to have qualified, experienced and respected consultants who demonstrate a thorough understanding of the regulations pertaining to each individual business. To do this, Redwood aims to deliver a risk-based, pragmatic and commercial compliance process which helps drive an organisation forward, rather than strangling it with ‘red tape’. Compliance as an industry has seen considerable change and expansion in just a few years. Redwood is embracing these developments and delivering modern compliance solutions, utilising technology and providing bespoke compliance support services.

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At Intertrust, we know that non-compliance is not an option. Our services allow you to outsource your compliance and reporting functions with confidence. We are represented in the world’s key jurisdictions with qualified professionals who will assist you with functional workflows for client due diligence, CRS and FATCA and backed by industry leading solutions.

Our Regulatory Compliance Services include: > Client and Investor Due Diligence > Data Management > Global Screening > CRS and FATCA > Remediation

Global reach, local knowledge.

Intertrust Risk Solutions Limited PO Box 119, Martello Court, Admiral Park St Peter Port, Guernsey GY1 3HB tel +44 (0)1 481 211 000 fax +44 (0)1 481 211 001 regulatorycompliance@intertrustgroup.com www.intertrustgroup.com

Intertrust Risk Solutions Limited is regulated by the Guernsey Financial Services Commission.

COM PL IAN C E

Right to comply – the rise and rise of compliance The need for compliance is growing in the face of increased international regulation – of which the EU’s GDPR is just the latest example. Intertrust’s business development director, Andrew Niles, explains industry trends and how the Channel Islands are well placed to take advantage of the new environment.

There was a time when compliance was something of an afterthought; a ‘ nice-to-have’ for organisations that understood the value of abiding by the rules but weren’t held to strict international regulations and subject to the automatic exchange of information.

The current landscape is totally different however, and compliance is a real growth industry.

The reasons for complying with international regulations are obvious – compliance indicates willingness to adhere to established rules, demonstrates legitimacy and social responsibility and, for Channel Island businesses, debunks misconceptions about the legality of offshore structures.

Indeed, the islands pride themselves on their strong regulatory environments and set the benchmark early on with their responses to the Foreign Account Tax Compliance Act (FATCA) and the OECD’s Common Reporting Standard (CRS).

The EU’s GDPR is the latest framework to require attention and the Channel Islands are once again positioning themselves in the vanguard of early adopters.

These increased regulatory and reporting demands on organisations have resulted in a greater demand for outsourced compliance services, something that we offer at Intertrust.

Our offering encompasses regulatory compliance services which are scalable and applied to funds, corporate services and complex private wealth structures. Scalability is important as many of our clients are mid-tier firms for whom developing an in-house team would be inefficient; they

simply need a provider who can perform global, scaled compliance functions for them.

We work with clients from around the world to meet their compliance needs, something that is inevitable as a result of the global standards that businesses are now being held to. The global footprint of our client base is a further endorsement for the Channel Islands as a jurisdiction; we work out of the islands for clients from the Far East, the US and Europe on their fund-based businesses.

Overall, both internally and externally, we work with more than 50,000 individuals and entities on regulatory matters – including FATCA, CRS and GDPR – and carry out anti-money laundering checks on functions such as client on-boarding, due diligence on investors and remediating books of business to ensure compliance with current standards.

The financial services world is an increasingly modernised one and digital technologies have played a part in facilitating reporting and complying with regulation; making life easier for the client and for the service provider.

At Intertrust we have two systems, developed in-house, that we and clients can use to expedite the reporting process.

The first is a secure, cloud-based client on-boarding system which is easy to use and is used here in the Channel Islands and in Intertrust’s offices around the world, as well as by select clients.

The second is an app called CDDQuick which enables us to perform due diligence on a client more quickly and easily than ever before. Both the Guernsey and Jersey

Financial Services Commissions now allow the provision of electronic data and we wanted to take advantage of this and pass the convenience factor onto the client, so we developed our very own app.

CDDQuick is installed on a portable device and simply scans documents such as passports, utility bills and driving licences and then interacts automatically with our systems to provide us with that information immediately. This saves time for us, the client and the regulator and is the kind of system that we see as the future of compliance.

The GFSC and JFSC’s willingness to embrace modern systems and communications is indicative of a broader ‘open-for-business’ attitude that characterises the islands.

This, combined with robust regulation, a convenient geographical location and time zone and a mature financial services sector, makes the islands a strong jurisdiction in which to do business.

There’s no doubt that the Channel Islands’ response to reporting is the gold standard worldwide and that’s why Intertrust decided to make the islands the home of its regulatory compliance services.

As a company that reports in up to 42 jurisdictions around the world we have seen the need to streamline and bring efficiencies to compliance services, workflows and processes that have been developed right here in the Channel Islands.

Compliance is more important now than it’s ever been and that presents an opportunity to the Channel Islands to develop another string to its financial services bow – a process that’s already well underway at Intertrust.

45

CO M P LI A N C E

A spiking trend in regulation Richard Bray, director of Active Group, looks at the changing trends within the regulatory environment.

In the good old days, our financial regulators tended to resolve issues behind closed doors; a word here, a word there, and a business would quietly close down with certain personnel ‘retiring’ from the finance industry.

the be-spiked heads in Jersey and Guernsey, we can see some regulatory trends common across both islands, including: • Inadequate control systems; • Lack of proper oversight; • Poor record keeping; • Ineffective compliance function;

Not so nowadays, as regulators must be seen to be regulating.

And so both the Jersey and Guernsey regulators are quite visibly regulating with a variety of cases being displayed on their websites. These ‘Public Statements’ have become the modern equivalent of those heads on spikes decorating London Bridge to serve as a warning to all to be loyal to the crown. However, instead of tourists coming to view the heads on display, we have compliance consultants reviewing the grisly remains to see what can be learned about how our regulators are regulating.

Having spent many happy hours perusing

• Improper handling of conflicts of interest; • Poor risk management.

The end result of many of these actions has been the company involved ultimately closing down, with senior personnel fined and barred from acting in the financial services sector of that jurisdiction.

This happens very publicy, thus you risk becoming a modern day head on a spike.

Here are a few questions that we think boards of regulated companies should be asking themselves: • How well do you know what is actually going on in the company?

• Who is supervising the senior management team?

• Are conflicts of interest within the company properly managed?

• Are your policies and procedures up-to- dat in line with current rules and regulations?

• Are those policies and procedures being followed?

• How safe is your company from being shut down by the regulator?

• Who can we call to help us answer these questions?

• What is Active Group’s number?

Active Group will take on the hard slog of answering all of these questions for you.

Using Active Group will help you to relax because, well, who wants their head on a spike?

Active Group provides pan-Channel Island compliance support and consultancy services.

The end result of many of these actions has been the company involved ultimately closing down, with senior personnel fined and barred from acting in the financial services sector of that jurisdiction. This happens very publicly, thus you risk becoming a modern day head on a spike

46

active group

by failing to prepare, you are preparing to fail

A Leading Provider of Support Services Multi‑disciplined. Multi‑Jurisdictional Guernsey +44 (0)1481 711822 Jersey +44 (0)1481 711822 Malta +356 2010 6167 Cyprus +357 22 67 6740 Isle of Man +44 (0)1481 711822

Compliance

Regulatory Support

Business Incubation

Company Secretarial

www.activeoffshore.com

CO M P LI A N C E

Compliance – at what cost?

Lindsay Fox, founder of Platinum Compliance (Guernsey) Limited, highlights the importance of compliance and the tools required to remain compliant in the financial services industry.

Everyone knows compliance is a necessity. The alternative? Noncompliance – resulting in a higher cost, and more than just a financial one.

What is compliance?

It is acting in accordance with established guidelines or specifications which are set by industry regulations and government legislation.

How to comply?

• Set company policies in accordance with the relevant regulations and legislation • Design and implement procedures in accordance with these policies • Create frameworks to identify potential risks • Set controls to protect your business from those identified risks Sounds straightforward, doesn’t it?

Compliance should effectively support business areas in their duty to comply.

It is there to help build and monitor the business operations, to identify, prevent, monitor, detect, resolve and advise.

Compliance is less of a burden (and less of a cost) if it is done right by those with expertise and experience in the field.

The provision of training, alongside the correct policies, procedures and controls, implemented in the correct manner and monitored on a regular basis, form the backbone for remaining compliant.

Effective and clear reporting to the board is of paramount importance. Deliver the message directly and in a concise manner, to ensure the directors receive the required information and are immediately aware of any potential risks. It is important for every area of the business to understand and be

aware of the risks to enable mitigation.

• Monitoring is key.

• Reporting is key.

• Training is key.

At Platinum Compliance, our passion is to help your business succeed. We can assist you in avoiding the pitfalls so you can focus on what you do best within your business. Let us provide you with our industry knowledge and experience of 30 years within the financial services industry.

We know what it is like in the front, middle and back office of a business from an operational perspective, we have worked there and understand the frustrations!

We know how to work together with you for the best interest of your company.

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ZEDRA

Risk management Jamey Dwyer, associate director, ZEDRA Jersey, takes a look at the risk considerations for a trustee.

A trustee is a naturally cautious animal who thinks long term and must consider downside risk as well as possible upsides.

Ever mindful of how future beneficiaries may judge a particular decision with the perfect clarity of hindsight, a diligent trustee recognises that the impact of a decision today can be significant for the trust 20 years from now, or even further into the future.

How can a trustee ensure that his decisions won’t be contested in future years by beneficiaries who may not even be born when the decision is made? He can’t.

A trustee cannot predict the future, however, a thorough and documented consideration of any decision and particularly for the acquisition or sale of an investment, affords the trustee a degree of protection by virtue of his fiduciary position.

A trustee must properly consider any action, calling for and reviewing specialist advice where appropriate, and act in the best interests of the beneficiaries. If this is done thoroughly, the trustee has done all he can to protect himself by making the optimal decision for the trust fund and the beneficiaries.

A trustee is obliged to protect the value of a trust fund and indeed to reasonably enhance its value. Certain assets do not generally increase in value with time, such as yachts and aircraft, and while this does not mean that a trustee cannot acquire them, he must do so being very clear of the basis on which the asset is being acquired. The on-going management of an asset is important to

protecting its re-sale value.

against such action.

If you want to buy a car and have a choice of two identical models, one which is in good condition and one which is a rusty wreck, the car in good condition will be worth more than the wreck. It is the same for any assets held in trust, the trustee must ensure that the assets are maintained and looked after to protect their value.

The ongoing management of assets and the risks associated with that extends beyond insurance however to the broader area of ‘risk management’.

A trustee’s responsibilities do not end with the decision to acquire an asset. A trustee is obliged to ensure that any asset, be that real estate, financial investments, a yacht, an aircraft or artwork is as secure as possible and any risks in relation to the investment are appropriately managed.

The most obvious way to ensure the security of an asset is through insurance.

An appropriate insurance policy for any particular asset is vital, much as it is for your own car or house. A trustee must ensure that its assets are adequately and comprehensively insured at all times to protect against the unthinkable and any damage that may be done to the asset.

Insurance is of even greater importance for any assets that could damage somebody else, such as cars, yachts, aircraft or racehorses. These assets carry the possibility of not only losing their own intrinsic value but of affecting others.

Animals can bite other animals or people.

Yachts and aircraft, much as technology improves to make them safer, can crash or sink. Any impact on a third party could result in a claim against the trust, and the trustee therefore needs to ensure that the trust fund is protected as far as possible

Properties may be subject to many pieces of legislation relating to their condition and upkeep, particularly in respect of properties which are let. In the UK a landlord must ensure that any gas supplies have been checked annually by a CORGI qualified engineer, the electrics must be checked regularly, fire alarms or smoke detectors must be fitted, larger buildings may require designated fire escapes, and many other areas require the property owner as landlord to be compliant. Other countries may have very different requirements - a trustee is not necessarily expected to know all of the legislation but nevertheless is liable if the asset is not properly managed.

The appointment of a professional managing agent who is familiar with the local regulations and requirements can help to mitigate any risk the trustee may face.

Similarly, other assets require specialist management. A yacht needs to be properly maintained or the trustee risks the asset being damaged through disrepair, or through accidents caused by inexperienced piloting.

Aircraft clearly need to remain flightworthy and a specialist firm should maintain the aircraft and where necessary provide crew.

So, careful risk management in relation to trust assets will always be at the forefront of the prudent trustee’s mind. After all, cautious animals don’t like to be exposed!

If you want to buy a car and have a choice of two identical models, one which is in good condition and one which is a rusty wreck, the car in good condition will be worth more than the wreck. It is the same for any assets held in trust, the trustee must ensure that the assets are maintained and looked after to protect their value.

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J I M R O B ERTS

JIM ROBERTS 52

Time, money and ideas

J IM ROB ER T S

Jim Roberts was appointed as the new CEO of the Guernsey Community Foundation earlier this year following a successful career in the public sector, predominantly in social welfare orientated positions. His new role seems the perfect fit with his background and skill set.

Jim’s first position of responsibility as a civil servant was administering the States’ public assistance scheme working with around 30 ‘procureurs of the poor’; subsequently he managed the supplementary benefit section within the Social Security Department and later the social housing scheme for States Housing.

‘There is definitely a social welfare thread running through these roles and in many respects my new post is a natural progression,’ he said. ‘The charities I am now dealing with on a day-to-day basis are in turn supporting many of the same people as I was in my previous work.’

The Guernsey Community Foundation was established seven years ago. It is funded by a handful of wealthy individuals who donate a sum of money annually to support its running costs, then a separate amount to re-distribute through the grants programme.

The foundation has a board of directors and a supervisory board – on which the patrons also sit – and an advisory group.

The foundation’s primary aim is to ‘promote effective philanthropy: the well-directed giving of money, time and ideas within the Bailiwick of Guernsey.’ It promotes better working between the government, business and voluntary sectors in order to meet the

needs of the community.

an existing infrastructure they can lean on.

Within this framework, the foundation’s mandate is reasonably broad and the activities of the team fall into three areas – grant giving, strengthening the third sector and liaison with the States – as Jim explained.

At the other end of the spectrum are what might be described as ‘kitchen table charities’ which have just as vital a role to fill in the community but which have a more niche activity, deliberately narrow in scope giving a very particular type of assistance.

‘When the foundation was first set up, we gave small grants to quite a high number of charities supporting a wide range of needs and activities. We subsequently had a change of tack and our current focus is to distribute what we call strategic grants. The criteria for awarding these are based on the money being used by the charity for it to become more resilient and sustainable in the longer term. We felt that by adopting this approach, the money would have a more long-term positive impact and equally we would stay truer to the initial founding principles of the foundation.

‘Some examples of this would be if a charity needed to appoint someone with a certain set of skills to undertake a one-off piece of work to create a long-term plan for that charity; or funding a piece of research to re-validate the aims of a charity to assist it in deciding where it should focus its future activities.’

Under this current funding strategy, the minimum grant is £10,000 which, as Jim explained, means that applications tend to come from charities of a certain size.

But other types of support are available for smaller charitable operations.

‘There are around 450 charities registered in Guernsey and these range from those with ‘parent’ operations in the UK which therefore enjoy a strong brand profile and often have

‘Support doesn’t always mean money.

For these smaller operations and under our goal to strengthen the sector, support might be a training programme in an area where there is a skills gap; they might benefit from our volunteer matching programme or need some advice around fundraising activities or governance. Whatever the size of the organisation, they share a common passion and desire to do good and make other people’s lives better in some way.’

The foundation enjoys a strong relationship with the States of Guernsey at both political and officer level. This is something that Jim feels the foundation has earned through its own credibility and by being approachable and responsive.

‘We are often asked to comment on consultation documents or to sit on working parties or committees that are looking at a specific social welfare policy. For example, our chairman Wayne Bulpit is a member of the scrutiny panel reviewing ‘in work poverty’ and we are involved with the Social Benefit Investigation Committee’s policy work to devise a new welfare scheme. We were also instrumental in arranging for a member of staff from Mind Guernsey to assist in drafting the Mental Health Strategy.

This strong relationship with the public sector is very encouraging and an important aspect of the foundation’s work.’

The foundation’s primary aim is to ‘promote effective philanthropy: the well-directed giving of money, time and ideas within the Bailiwick of Guernsey.’

It promotes better working between the government, business and voluntary sectors in order to meet the needs of the community

53

J I M R O B ERTS

The Guernsey Community Awards has become an established fixture on the island’s calendar and is a ‘showcase’ for the foundation’s and local charities’ activities.

The event has grown considerably since its inception both in terms of attendance and the number of nominations received.

‘It’s a real celebration of the success of the volunteer sector,’ said Jim. ‘So much goes on under the radar and often people are unaware of the range of needs and the level of volunteer activity that exists in the island. The event is a great way of celebrating what is achieved by the third sector.’

Nominations for the various award categories will open in mid August and the event itself will take place in late October/ early November (details will be published on the foundation website). Categories range from an Individual Achievement Award to Charity of the Year.

Looking ahead, there are a number of areas of activity on which Jim and the foundation team will be focusing.

‘We will be reviewing our grant funding strategy again and the grants panel, with the board’s backing, may consider widening the criteria or even reverting to the distribution of

a larger number of smaller grants.

We need to be confident that the current approach remains the most appropriate going forward.

We currently have access to additional funding and so this will enable us to evolve the foundation’s activities and broaden the scope of what we do.

‘I would also like to review and promote our volunteer matching programme.

This is where would-be volunteers can make themselves known to us and we broker an introduction with a charity which has expressed the need for a specific skills set. It’s a great idea and we need to remind people that the facility is there.

‘Overall we want to encourage the ‘professionalisation’ of the charitable sector.

We have to remain aware that, with the range of organisations we support, a ‘one size fits all’ approach doesn’t work. We recognise the range in size and skills sets of the people involved and aim to offer the appropriate level and type of assistance.

‘One of our early slogans was that we were interested in the well-directed use of ‘time money and ideas’. Some organisations will have all three of these essential elements, others will need support in one or more which is where the foundation can help.’

Jim explained that the foundation has mainly been focused on charities dealing with social welfare issues – people on low income, suffering from ill health etc.

But going forward he would like the scope to be broadened.

‘We are the ‘community’ foundation and so we are increasingly looking at organisations that support other types of interests - such as the environment, sports and the arts - in order to offer similar support. Generally speaking we need to improve our profile amongst the third sector as a whole and remind them of the support that is available to them.’

Given his background and obvious interest in social welfare, Jim’s new job description could almost have been written specifically for him and is a perfect fit not only professionally but also on a personal level.

‘I am very interested in the hidden deprivation on the island and I do believe that social exclusion is a problem here. In any affluent community, poverty is often invisible.

We are suffering the effects of belt tightening and austerity similarly to the UK and therefore the third sector is busier and more needed than ever to support those who, through no particular fault of the own, need a helping hand.’

I am very interested in the hidden deprivation on the island and I do believe that social exclusion is a problem here. In any affluent community, poverty is often invisible

54

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JERSEY HERITAGE HAS A CHOICE OF FASCINATING AND UNIQUE HERITAGE SITES AVAILABLE FOR HIRE.

Whether it is for a large dinner or ball at a castle, a drinks reception in a farmhouse or a breakfast meeting at a museum, we can offer an exceptional and memorable venue for your event.

Some of these sites have been at the heart of island life for 3,000 years. In choosing to hold your event in one of our venues you are helping to preserve Jersey’s culture and heritage for future generations.

Mont Orgueil provides a dramatic backdrop to any event. This striking medieval castle is set to impress. One of the top 10 oldest buildings in the world, La Hougue Bie is a superb venue for an evening function.

Enjoy the new 1980s exhibition at the Jersey Museum, ‘Bergerac’s Island’, before holding your meeting in our bright modern meeting room, the Ouless Room.

The Jersey Heritage venues team are on hand to discuss your requirements and will provide you with prices and availability along with a choice of excellent caterers and suppliers suitable for your event. For further information on our prices and availability please contact the Jersey Heritage Venues.

Team: venuehire@jerseyheritage.org / www.jerseyheritage.org/venue-hire

Host an historic event From marquee celebrations and drinks parties to intimate dinners and boardroom meetings, our venues provide the perfect backdrop to your corporate event.

E: venuehire@jerseyheritage.org | T: +44 (0) 1534 633312 jerseyheritage.org/venue-hire

Registered charity: 161

www.je.logicalis.com | www.gg.logicalis.com

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Learn how Logicalis can train your staff to help secure your business from becoming a victim of cybercrime, call our experts in Jersey on 288088, or in Guernsey on 737000 for a no obligation and confidential discussion.

Guernsey +44 (0) 1481 737 000

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Jersey +44 (0) 1534 288 088

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AT T R AC T I ONS & TOUR ISM

Sandra Berry, owner of Guernsey Self Catering, comments on how the company has adapted to fulfil the needs of a changing market.

Guernsey Self Catering – some of the most popular in Guernsey – well that’s what our guests tell us and here is an example of what they say: ‘Lovely apartments - spacious, clean and well equipped. The housekeeper, could not be more helpful always available no matter what time of day. Lovely surroundings, peaceful and close to St Peter Port.’

We all appreciate the wonderful comments our guests leave us and it certainly makes our day to know that all the hard work and continued investment is worthwhile.

Del Mar Court, Ilex Lodge, Le Douit and La Bellieuse are owned by my family and run with a small dedicated staff to ensure our guests have a comfortable and clean, home from home stay - whether they are holidaying or using us as a base while working in Guernsey.

The market has changed over the 50 years we have been providing self-catering accommodation and so it's very important to adapt to market conditions and continue to reinvest. Installing smart TVs, high speed broadband and increasing WiFi connectivity throughout the properties has been essential.

The benefits outweigh the outlay; with corporate guests preferring apartment living and with the easy commute into St. Peter Port we enjoy a healthy business from this sector.

Companies use our properties in a variety of ways – some bring staff to Guernsey for a specific contract varying from one to six months – others accommodate new staff for a set period while they look for permanent rental or purchase housing. Some take an apartment for the whole of the winter – giving them the assurance that they always

have a guaranteed accommodation base for their visiting staff.

We continue to invest and improve and this coming winter we will be busy extending more apartments at Del Mar Court to provide larger living rooms and adding en-suite shower rooms to the master bedrooms - all ready for the 2018 season. We aim for clean, comfortable, affordable accommodation with a friendly but professional service.

All in all we remain optimistic about the industry. However, like everyone, we have a moan about Guernsey’s government – its lack of business acumen – its money wasting – increased rates and of course the few who think we need a longer runway which in my view we don’t.

So let’s hope for some glorious weather and happy guests.

Suitable for business or pleasure serviced apartments ∞ all utilities included ∞ WIFI Contact Sandra on 01481 237491 or at sandra@selfcatering.gg www.selfcatering.gg

The Guernsey Property & Construction Awards

Beau Sejour - Thursday 2nd November 2017 Bringing together all areas of the property, building and construction industry The awards evening will celebrate achievements and showcase the successes of the wide range of professional services that makes Guernsey’s property and construction industry great Celebrating architects to engineers; contractors to surveyors; property agents and managers - anyone involved in the industry and their guests are welcome Tickets for this black-tie gala evening, which includes entertainment from TV comedienne Lucy Porter, together with a three-course dinner and a charity raffle are just £75 per person or £750 for a table of ten To make a reservation, contact Julie Todd email: julie@collaboratecommunications.com tel: (01481) 715222

www.guernseyconstructionawards.com

Supported by

C5 Guernsey are growing We are looking for smart people to join our team

Following continued client success, we need new team members to work in technical areas ranging from development to application support and project management.

Our competitive benefits package, culture of continuous learning and friendly team will allow you to achieve more and create real impact on the Guernsey technology community.

Send us your CV today careers@c5alliance.com

www.c5alliance.com

T EC H N O LOGY

LET’S TALK TECH Jon Le Noury is a qualified business analyst (BA) with eight years’ experience.

His role, based within C5 Alliance Guernsey’s project delivery team, considers all aspects of a business system; its interactions, incorporating the people, processes and organisation, and the supporting information and technology.

What attracted you to a role as a business analyst?

Many business analysts start out with a technology focused position, however, I was keen to spread my wings into a role not constrained by software but working with different technologies across business sectors. I jumped at the chance to become a BA – the level of empowerment inspired and excited me.

What skills and qualifications did you have to develop for your current role?

Initially I completed the BCS diploma in business analysis, later adding the advanced diploma, which includes a requirement to demonstrate how you have contributed to the wider BA community. Over the past 12 months I have been working with a colleague to create a skills framework for our team, utilising SFIA (skills framework for the information age) - this is a model for describing and managing competencies for IT professionals and is intended to help match the skills of the workforce to the needs of the business. We are piloting this approach with a view to provide a clear understanding of standardised IT skills across the organisation, enable targeted training, to address specific skill gaps, improve recruitment and define a career path and progression for our consultants.

Qualifications aside, to be a great business analyst you must be able to build good relationships with a variety of different people at all levels, obtaining and retaining the trust of colleagues is essential, along with effective communication.

What attracted you to a job at C5 Alliance?

My previous role involved a lot of travelling - not ideal with a newborn baby.

People think that business travel is exciting, in reality, you end up in a budget hotel eating room service. I did however get a lot more sleep than my wife who was dealing with a three-week-old baby!

Travelling aside, I was focused on a single industry and I wanted to learn more about different business sectors in Guernsey. C5 Alliance has opened doors for me to work within many fields including financial services, insurance and even mining.

The approach to learning and development at C5 is fantastic; I am always encouraged to upskill. The project delivery team has a spread of knowledge and expertise that allows flexibility for all team members to complete a variety of work.

What is your long-term career goal?

I am passionate about this role and keen to see the use of business analysis grow across all industries, not just those which are technology focused. I want to position myself as a thought leader within the BA community across the Channel Islands. Sharing the knowledge I have with local businesses, helping them to understand that we can assist them make the right decisions when it comes to change.

Tell us about your working day…

I start my day by checking my calendar to find out where I need to be, when. My day varies depending on the number of clients and type of work I am focused on. I spent several months working within a large private bank recently; my day would start with a phone conference with the project manager, based in London and the test manager, based in India. We would discuss project achievements, blockers and any other risks that would prevent the successful implementation of the change. I would then spend time liaising with business project managers to understand and convert their requirements into workable, tested solutions.

Why would you encourage young people to consider a career in this industry?

You can have a very positive impact on the departments and companies you work with - whether improving a process or defining solutions to business problems. I am constantly learning and adding value to people's working lives.

Being involved in developing something that people need, making their lives and work more efficient and enjoyable, encourages me to always give my very best to get the job done.

I always wanted to be…

A swimmer. I spent my childhood swimming competitively at two Commonwealth Games and five Island Games. If the money had been good enough I would like to have carried on, unfortunately sport lacks funding and most ‘professional’ swimmers need to have day jobs.

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SHARING A SIMILAR PERSPECTIVE

Much has been made of the respective economic and financial positions of Guernsey and Jersey and whether one is doing better than the other. Although that makes for good headlines, the reality is that both islands have common issues – and the ways of tackling them are also similar. Richard Digard explains Looked at through the political prism, running the islands of Jersey and Guernsey can be an uphill struggle.

Just look at the furore Senator Ian Gorst triggered when he announced he was bringing Philip Ozouf back into government.

Yet under the surface, both administrations work away quietly at running their respective ships of state, facing substantially the same issues and focusing on achieving similar outcomes.

In fact, looked at through their medium term financial plans, both are pursuing almost identical objectives, albeit perhaps expressed slightly differently:

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Guernsey • Strong, sustainable and growing economy • Sustainable public finances • Healthy community • Lifelong learning • Inclusion and social justice • Centre of excellence and innovation • Mature international identity • Safe and secure place to live Jersey • Optimise economic growth • Sustainable public finances • Improve health and wellbeing • Improve education

• • • •

Improving infrastructure Improve St Helier Promote positive international identity Maintain a safe and just society

And even where there’s no direct bullet point comparison – for instance in improving island infrastructure – the narratives reveal government intentions to invest in what underpins these communities.

However, Guernsey’s Policy and Resource Plan, the equivalent and just introduced equivalent of Jersey’s Medium Term Financial Plan, has no express proposals for improving St Peter Port, while regeneration of St Helier is an ambitious and dominant aspect of Jersey’s vision for the future.

Guernsey enters this medium-term plan period in an improving but still vulnerable position,’ while ‘The Jersey economy goes into this period of heightened uncertainty in a stronger position than most jurisdictions and we are well placed to deal with many of the risks, including those that could emerge as a result of the decision of the UK to leave the EU.’

That said, Guernsey’s recently approved Island Development Plan puts much emphasis on creating planning flexibility for appropriate development, particularly around St Peter Port harbour, and improvement to the stock of prime office space is also envisaged.

So where there is a difference, it is more between Jersey saying ‘this will happen’ and Guernsey’s ‘this can happen’.

The island’s economies Where there is divergence is in recognising the islands’ respective place in the economic cycle, certainly if read against the backdrop of some of the public utterances from Guernsey’s politicians.

For instance, ‘Guernsey enters this medium term plan period in an improving but still vulnerable position,’ while ‘The Jersey economy goes into this period of heightened uncertainty in a stronger position than most jurisdictions and we are well placed to deal with many of the risks, including those that could emerge as a result of the decision of the UK to leave the EU.’ That confidence is slightly tempered, however, as the decision by the UK to leave the EU and its implications for the UK and Jersey economies are still unclear to the Council of Ministers but they place even greater emphasis on the independent Fiscal

Policy Panel’s advice to ensure that the plan is flexible enough to deal with changing economic circumstances. As a result, Jersey’s Treasury and Resources Minister has asked the FPP for updated advice by mid-July.

By contrast, Guernsey says it has been difficult to make any assumptions at all regarding the impact of Brexit on its economic performance. To date, there has been little impact.

‘However, once the final proposals for the changes are understood, it is possible that they might have a serious and structural impact on the Guernsey economy,’ says the Policy and Resources Committee.

year-on-year employment growth, led by strong growth in the fiduciary sector.

Although the report doesn’t say this, Guernsey has experienced a lot of consolidation and ‘under the radar’ job losses, which appear to have been absorbed in the new activities highlighted by Policy and Resources.

The committee, probably for the first time, also acknowledges the damaging effects of the island’s fall in property prices and the declining number of sales.

It also adds: ‘No allowance has been made for this within the plan at this stage.’ Nor does it say whether a Plan B is in hand if Brexit does indeed go sour.

While cheaper homes would be welcomed in some quarters, ‘the loss of value of real assets is likely to negatively impact levels of confidence in the economy and the drop in prices along with the low number of sales compared to historic averages continues to have a negative impact on revenues’.

Where Guernsey’s economy has performed well is demonstrating strong growth in employment in professional, business, scientific and technical activities, which also include accounting, legal and consultancy activities.

Construction is also on the floor, because of a lack of large-scale projects, including from the States itself, and ‘should this trend continue it may erode the capacity and skills of the industry on-island and this will need to be addressed.’

A consequence of this is that there has been continuing diversification in the activity and skill base of the island’s economy at the same time as the report indicated that the core financial services sector had shown ‘modest’

Jersey’s economy has been stronger, with average earnings exceeding inflation for three consecutive years and financial services performance trending positively, total employment up by more than 1,000 in a year

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and budgets for tourism, agriculture and other business sectors largely protected.

In addition, the larger island has considered ways to support the economy if needed: • Allow income tax and benefit spend to adjust automatically to help islanders and reduce any impact on the economy •

Place funding in the Stabilisation Fund if needed, from contingencies or reserves, ‘to be used in a timely, targeted and temporary way to support the economy’

•

An Economic and Productivity Growth Drawdown Provision is in place to sup port policies that can help bolster economic growth.

Ministers also say that proposals to use this funding to mitigate the economic impacts of the UK’s withdrawal from the EU would potentially qualify for this funding.

Transforming public services Transforming the islands’ public sector into something that’s flexible and fit for 21st century purpose – and saving money – is a common, urgent and priority theme for both governments.

‘Reform of the public sector is essential if we are to fund our priority areas while also balancing the books by 2019. Many governments are adopting new ways to provide services and we must demonstrate our own capacity to innovate, learn and adapt. We risk wasting resources if we maintain 20th Century ways of working while the world around us changes radically,’ says the Council of Ministers.

In Guernsey, ‘Public services are at the very heart of the island’s community. Moreover, because the island is changing, so must our public services if we are to keep up with those changes and continue to deliver the services that our community needs,’ says Policy and Resources.

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Drivers for change common to both islands in addition to generating savings include:

taken into account, the net effect of Jersey’s investment will be to add 4%-6% of gross value added (GVA) over the 2016-19 period.

• Changing demographics and the declining proportion of the population in work

‘We are continuing to help create the right environment to boost our economy through diversification and productivity improvements, to provide extra revenue for our public services. We will sustain our programme of investment in infrastructure, in the Jersey International Finance Centre and Social Housing through arms-length, self-financing organisations. We are attracting new business through active inward investment and promotional activities supported by high standard regulatory regimes,’ say the Council of Ministers.

• Evolving government workforce requirements • Changing expectations and needs of those using public services • Supporting the economy and helping to meet the challenges faced in a competitive world Guernsey’s transformation plan, which is civil service-led and a key task for the States Chief Executive, came in for some criticism because of its 10-year horizon. Nevertheless, P&R, which is providing political oversight, believes it can save £26m. a year by 2021.

Jersey’s programme is led by the Council of Ministers, which has acknowledged that its initial £90m. savings target was too ambitious and has scaled it back while extending the timescale to achieve it.

Now it says: ‘We will deliver £73m. in staff and non-staff savings by the end of 2019, most of which is being delivered through efficiencies, workforce modernisation and pay restraint.’

That’s facilitated by Jersey’s 6% a year turnover in staff while Guernsey’s is around twice that.

Developing the island economies Ensuring both islands remain successful is clearly a significant part of each plan and here there are some differences of approach.

Jersey has been and remains more willing and better able to invest directly into the economy and says that spending has helped to sustain the economic recovery developing over the last few years.

When capital projects of £168m. are

Having spent £5m. last year on measures that demonstrated improved economic growth, productivity, skills and job opportunities, ministers plan on adding a further £13.5m. during 2017-19, some of which will be used to protect the budgets of External Relations, financial services, digital, innovation and competition.

Guernsey’s approach is rather more modest as its priority is to eliminate the structural deficit and achieve what Policy and Resources calls fiscal stability – balancing the books long term.

To do so, it needs to find an extra £40m. to close the gap and £26m. is to come from public service reforms and the remaining 35%, or £14m., from taxpayers in the period to 2021.

If achieved, that would enable the island to invest 3% of gross domestic product in capital infrastructure from 2019, the year it anticipates a move into structural surplus.

In addition, a further £3.5m. a year will be invested in service developments from 2020 onwards to reflect a commitment to re-invest the ‘reform dividend’ in public services.

All being well, a cumulative surplus of some £24m. is expected by 2021, which could

The main difference, however, lies in the respective systems of government – Jersey’s ministerial approach versus Guernsey’s consensual committee system – and the larger jurisdiction’s ability and willingness to spend significant sums on investing for economic growth.

be used to re-establish Guernsey’s reserves depleted while it was running a deficit or to enable investment in funds such as those relating to public sector transformation or economic development beyond the medium term.

responsible member of P&R. In each case, the focus is on outcomes – results which islanders can identify with such as living longer, healthier lives or getting good jobs, and outcomes which show the change desired.

Because delivery of the medium term plan is down to the committees, it is Economic Development that has the most influence on these ambitions and its own programme is largely based on supporting the financial services sector and maintaining and developing the regulatory framework.

consensual committee system – and the larger jurisdiction’s ability and willingness to spend significant sums on investing for economic growth.

As a result, the Council of Ministers is able to declare that it has a clear plan to tackle the identified issues and, ‘unlike many other places, Jersey starts from a position of considerable strength with little debt, significant reserves and a proven track record of fiscal discipline and remaining nimble in the face of rapid change.’

The benefits of its package include attracting new business to Guernsey, creating high value jobs for local people and supporting the sustainability of existing and future transport links.

Guernsey, by contrast, has just started on a process where, for the first time, the plan is not based on individual committee mandates and there is an attempt to end the previous ‘silo’ government approach.

Like Jersey, however, Guernsey sees Brexit as a potential threat to implementing these plans successfully.

It is also different from Jersey’s plan as the seven committees that fed into it have had to indicate how their policy priorities and identified strategies and work streams fit with overall P&R Plan objectives. And while Jersey’s MTFP is well developed and led by ministers, Guernsey’s still displays its committee roots as departments pursue cherished policies and the priorities can come across as clunky bolt-ons.

Making the plans a reality Critics of government in both islands have previously attacked the planning process as a bureaucratic exercise that looks good on paper but fails to deliver.

The States of Jersey and Guernsey acknowledge this now and each medium term plan is focused on outcomes.

The emphasis is also on the impact on people's lives– not about how things are delivered, the amount of money spent or the number of programmes that have been introduced.

The Council of Ministers, for instance, has reviewed the way Jersey’s government plans for the future and is introducing a new approach that reflects international advice and well established practice.

It is also seen as an opportunity for the governments to work with the private, voluntary and community sectors on the development of plans and actions to tackle the biggest challenges ahead.

The Policy & Resources Committee says its plan is new, with the objective of working across government and the community to build a plan that works, that is achievable, and where progress is measurable.

Where the islands differ Providing an overview of the two islands’ medium term financial plans is far from easy, not least because the various reports are so long and compiled in different ways.

‘Collectively we have done that - now, as a government, we need to be focused on delivering it,’ said Deputy Jon Le Tocq, the

The main difference, however, lies in the respective systems of government – Jersey’s ministerial approach versus Guernsey’s

For example, Employment and Social Security’s social housing programme is, officially, aimed at making Guernsey a safe and secure place to live and the key benefit is ‘Provision of appropriate number & size of social housing stock.’

However, both islands are clearly committed to trying to deliver on their plans and have advanced monitoring and feedback processes to help them do so.

Because it is the first year of Guernsey’s ‘joined up’ approach, however, for all the similarities between the island’s requirements, it still looks a little raw and its outcome more uncertain than Jersey’s.

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I NS U R A N C E

Choose life Life insurance is an issue everyone has to deal with at some point. Cherry Godfrey’s Jersey managing director, Howard de la Haye, considers what people need to think about when taking out life insurance.

One of my favourite television programmes is Location, Location, Location. Perhaps I feel an affinity with Phil and Kirstie as we each have a common desire to find the right solution for our clients and, arguably, we have similar conundrums.

What are the benefits?

In my many years of experience, my mantra is that some cover is better than no cover.

For a variety of reasons – but most often financial – a client may not be able to obtain what may seem like their ideal cover but this is not a reason to not have any cover.

Where to start?

Those seeking a new home (or life insurance) often don’t know quite what they want or need; where they might be prepared to compromise or what they deem to be essential in the cover.

Most people will prefer to have a critical illness plan which has as many conditions covered as possible and has a statistically higher chance of paying out in the event of a claim.

However there are also lower cost schemes which cover a limited number of specified conditions

Just as Kirstie and Phil advise their clients, considering life insurance comes down to a balance between affordability, compromise and risk.

There are two major types of life insurance - term and whole of life.

Term insurance is the simplest form - it pays only if death occurs during the term of the policy. The policy can be set up with the sum assured remaining level, decreasing or increasing, depending on the purpose of the cover. Decreasing is usually selected when it is in respect of a mortgage.

Some term policies now also include non-contractual benefits such as ‘best doctors’ which provides a second opinion medical service or access to a qualified nurse 24/7 via a telephone support line for questions about a specific medical condition or practical advice on general wellbeing.

Whole of life insurance pays a death benefit whenever you die. The death benefit can be level or index-linked to increase each year and so reduce the eroding effects of inflation.

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A few years ago some clients of mine received just £10,000 following a claim on a critical illness policy they’d taken out 15 years earlier. The policy had just four months left to run when the husband was diagnosed with lung cancer. £10,000 may not seem a sizeable payment when compared with most mortgage liabilities but it was just what this couple needed during a time full of worry and financial concern.

Cost is an issue for most people.

Discussions with an expert will identify the right balance whether the final policy is for a

shorter time period, a lower insured amount or a reviewable monthly premium.

Most people will prefer to have a critical illness plan which has as many conditions covered as possible and has a statistically higher chance of paying out in the event of a claim. However there are also lower cost schemes which cover a limited number of specified conditions.

Income protection cover often comes with a budget option which limits the maximum number of years the plan will pay out on a claim. This can halve the costs.

There can also be merit in having life cover paid both as a lump sum and a regular monthly payment. Family income benefit (FIB) will pay out a monthly benefit during the remaining term of the cover.

Lump sums could help clear debts (loans, mortgage etc.) or can provide funding for a home purchase, wedding, car or retirement provision, for example.

The regular payments with FIB could assist with children’s education costs, financial expenses, retirement funding, additional security in case the survivor’s income decreases or allow the holder to reduce their working hours to pursue other interests.

All the options need to be weighed up and the choice is then down to the individual and this will help to shape the type of policy to which they ultimately commit. This is one of the most important decisions people make and, just as you wouldn’t buy a house without the expert opinion of an estate agent, so you should consult a life insurance expert to find the appropriate policy.

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IN S U RANC E

Guernsey special purpose insurers Advocate Kate Storey, Partner, Appleby (Guernsey) LLP, outlines the benefits of domiciling special purpose insurers in Guernsey.

Guernsey’s special purpose insurer business continues to grow, alongside its established captive insurance business.

Guernsey saw an increase in international insurers established on the island of 31 over the 12 months to 31 December 2016, bringing the total number of international insurers to 835, with annual premiums written of £5.54 billion according to latest available statistics – their highest level since available records began in 2001. The bulk of this increase in business is attributable to special purpose insurers, predominantly insurance linked securities (ILS) business.

investors; the collateral is subject to a trust or other security arrangement; 3. ILS cells – a broader category of 2. above, where the underlying insurance contracts are not limited to catastrophe risk; as well as natural catastrophes, ILS products typically cover life insurance (mortality and longevity) and man-made events (fire, terrorism, even lottery jackpot losses); and 4. fully funded entities.

The SPI Rules have now provided a formal definition of ‘Special Purpose Insurer’ as an insurer or cell which satisfies all of the following requirements:

What is a special purpose insurer?

Within the last six months the Guernsey Financial Services Commission (Commission) has published The Insurance Business (Special Purpose Insurer) Rules 2016 (SPI rules), which clarify and confirm the regulatory definition and treatment of special purpose insurers under Guernsey law.

The Insurance Business (Solvency) Rules 2015 (Solvency Rules) had already provided for Category 6 ‘Special Purpose Entities’ as being primarily ‘insurers whose underwriting and counterparty risk are effectively eliminated’ by being fully collateralised or fully funded.

The Solvency Rules give examples of these as including:

i) the insurer or cell has at all times assets the value of which is equal to or exceeds its aggregate maximum risk exposure and the insurer or cell is able to pay the amounts it is liable for as they fall due; ii) the proceeds of the debt or equity issuance or other financing mechanism are:

1. transformer cells, i.e. cells within a Guernsey protected cell company whose primary purpose is to enable transactions between the capital and insurance markets by converting derivatives contracts into insurance contracts, or vice versa;

iii) claims of participants in any financing mechanism against the assets of the insurer or the cell are subordinated to the claims of creditors under the contracts of insurance underwritten by the insurer or cell;

2. fully collateralised catastrophe cells, i.e. cells within a Guernsey cell company which reinsure catastrophe risks and have 100% collateralisation through the issue of risk-linked securities to sophisticated

(1) fully paid in; or (2) in the form of contingent assets where the finance provider has achieved a financial rating (counterparty, credit or financial strength as applicable) of at least A - as of the date of application and as determined by an acceptable rating agency;

iv) the insurer or cell only enters into contracts or otherwise assumes obligations or contingent liabilities which are solely necessary for it to give effect to the purposes set out from time to time in its agreed business plan; and

v) each of the insurance contracts is structured so that the insurer or cell meets the fully funded requirements individually for each contract.

What are the benefits of domiciling in Guernsey?

Guernsey SPIs or other entities that the Commission agrees may fall into Category 6 (special purpose entities) benefit from waivers of the regulatory capital and solvency requirements applicable to Guernsey insurers in other categories, so that they are not required to hold the minimum and prescribed capital under the Solvency Rules (Guernsey is outside of the EU and therefore not required to implement Solvency II). They can also benefit from a fast track self-certification approval process for creation and licensing of new cells. This process requires the manager of the SPI to self-certify the nature of the transactions contemplated and to provide the Commission with relevant documentation and the licensing fee within seven days of the effective date of the insurance underwritten.

Other waivers include: - ILS SPVs can benefit from a waiver from the requirement for accounts to comply fully with UK GAAP FRS in relation to notes to FRS accounts; - certain long term SPVs, for example runoff situations or reinsurance of pension scheme longevity risk, may benefit from a waiver of the requirement for an appointed actuary (normally required for long term business). These benefits are in addition to the normal benefits of establishing an insurer in Guernsey, including a tax neutral environment and appropriate, high quality regulation to recognised international standards.

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INS U R A N C E

Directors’ duties – an ever changing landscape Anthony Kay, business development executive with Willis Towers Watson emphasises the importance of appropriate insurance for company directors and officers.

Driven by public and shareholder pressure and the lessons learned from the global financial crisis, enforcement agencies have promised to come down hard on offenders.

It should not be thought however that the regulatory and prosecutor focus on individuals has contributed to a downturn in the eye watering levels of fines and penalties exacted, in particular, on the financial services sector - in 2015 alone the UK’s prosecutors and regulators imposed not far short of £1 billion worth of fines, penalties and related orders on companies. This figure includes a fine of £126 million for failure to adequately ensure safe custody of client assets and £226.8 million in connection with LIBOR and EURIBOR related misconduct.

This comes at the same time as the JFSC announcing that it too will have the power to impose financial penalties on regulated business. Director-general John Harris commented: ‘This will bring us in line with similar powers exercised by counterpart regulators around the world.’

A recent survey (Allen & Overy/Willis Towers Watson directors' liability survey May 2016) shows that the greatest risk faced by directors is the threat of regulatory and other investigations and inquiries. There has been a proliferation of new regulations and this shows no sign of abating. Directors are personally liable for offences that include bribery, corruption and fraud, competition and antitrust matters, environmental law, health and safety, tax sanctions, money laundering, financial reporting requirements, and Dodd-Frank and other extra-territorial US legislation.

What are the new liability concerns?

The legal framework regarding cyber liability and data loss will change fundamentally over the next two years. The General Data Protection Regulation will provide greater control over personal data. For any company that relies on computers – meaning just about any company – cyber risk is real, serious and unavoidable, and as such, the threat of a liability attack against directors 70

• Cover for director/officer liability to the company or an associated company.

• A source of indemnity protection that is independent of the company, thus removing the conflict problems that arise when the company is involved in the claim against the director, • A source of indemnity that is available even if the company has become insolvent (rendering any corporate indemnity valueless)

cannot be eradicated. Directors should therefore take steps to inform themselves of the risks posed to their companies, and to mitigate them. This will form the basis of their defence should the company be attacked. Again, personal accountability is paramount and the key legal point here is that directors cannot delegate their duties of supervision.

The survey* found that 29% of financial institutions had experienced a cyber-attack and/or data loss significant enough to have been brought to the attention of the board in the last 12 months.

What should I do if I have a claim?

D&O policies are written on a ‘claims made’ basis. This means that it is the policy that is in force at the time the claim/notification is made that will respond and not a prior policy that was in place at the time of the occurrence leading to the claim/notification.

It is important to notify insurers immediately of any matters or complaints which may lead to a subsequent claim in order to comply with the notification provisions of the insurance policy.

Protecting directors and officers With directors and officers facing so much personal exposure it is not a surprise that D&O policy coverage and related indemnities are attracting more attention.

Directors are showing more attention to the policies in place particularly focusing on: • •

•

Extent of cover provided Who is covered i.e. is the cover shared with other parties What exclusions is the policy subject to

A particular area of concern is the coverage for investigations. The costs that can be racked up for legal advice for individuals during investigations can be substantial, and with regulatory and enforcement so heavily focused on senior management, this is a growing area of expense, particularly as matters become more and more complex.

What protection is in place under a D&O policy: • Defence costs (civil, regulatory and criminal proceedings) Date of wrongful act Day 0

Willis Towers Watson study looking at notifications / claims reported from 2012 to 2016 under commercial D&O policies As you can see from the diagram below, it takes on average of 1.25 years for a wrongful act to develop into a formal claim.

Notification to insurers at point of discovery is therefore key and delay in notifying a circumstance could lead to insurers denying or restricting liability on the grounds that their position has been prejudiced.

Directors should also ensure that any policy arranged does not contain a ‘retroactive date’.

This is a condition which excludes claims arising from any acts committed prior to the stated dated regardless of when the claim is actually made.

Date of allegations Day 443

Date of discovery Day 418

Date of formal complaint Day 463

Financial Institutions Insurance Willis Towers Watson’s Financial Institutions (FI) team, which forms part of FINEX Global, provides bespoke financial solutions for Trust Companies, Fund Administrators, Offshore Fund structures, Asset Managers, Private Equity, Accountants, Lawyers and Independent Directors.

Financial Institutions (FI) insurance covers a wide range of specialist areas in the financial services industry. Growing investor expectations have placed greater demands on financial institutions, meaning stricter governance and regulations.

Why Willis Towers Watson Our FI Practice is dedicated to providing a full range of insurance and risk management services specific to the financial sector. We fully understand our clients’ culture and philosophy with regard to management of risk, and to work with them to identify and analyse risk, taking into account:

Corporate governance and compliance

The extent, complexity and diversity of the financial products or services provided

Exposure to global jurisdictions and regulatory regimes

Operational risk in conjunction with the internal and external control environment The solutions we offer:

Professional Indemnity Insurance

Cyber Insurance

Directors and Officers Insurance

Fund Directors and Officers

Cash and Valuables Insurance

Comprehensive Crime (Fidelity)

Insurance

Run-off Insurance

As a global market leading insurance broker you will benefit from strong strategic relationships with key FI insurers, both when negotiating the insurance and in the event of a claim.

For more information on how Willis Towers Watson can support on FI insurance please contact: Anthony Kay at Anthony.Kay@WillisTowersWatson.com or visit www.willistowerswatson.com

Tackling the changing tides Navigating forwards together Willis Limited is a Lloyd’s Broker, authorised and regulated by: The Jersey Financial Services Commission (Ref GIMB0116) authorised to conduct General Insurance Mediation, The Guernsey Financial Services Commission (Ref 1040912) authorised to sell and advise on Commercial Lines Insurance, and The Financial Conduct Authority (Ref 310186) 225202/06/17

IN S U R ANC E

Insurance – peace of mind in a risky world Paul Masterton from Insurance Corporation of the Channel Islands tells us more.

Protecting individuals, businesses and society against changes in fortune, ‘insurance’ is as old as civilisation, beginning perhaps with early mankind’s gifts to the gods for a good harvest or a safe journey!

This same desire for peace of mind, for managing risk and preparing for life’s nasty surprises is as strong today as ever, meaning the role and relevance of insurance is also as important, perhaps even more critical given the current level of change for both consumers and businesses.

In many ways, the development of insurance through the centuries mirrors the development of societies, of trade and business and the increasing sophistication and needs of society.

The Great Fire of London in 1666 led directly to property insurance, with early companies placing fire marks on houses to ensure that

their own fire brigades would know which houses to save! Since then insurance has evolved to today’s immense array of policies and covers, aiming to protect value and to minimise damage and loss.

Providing protection and minimising risk in an increasingly uncertain, rapidly changing world has never been more challenging.

Profound changes, not least from technology, on business and consumers has dramatically altered our lives bringing immense benefits but also huge new risks and threats. Considering the recent cyber attack that disrupted our health systems is a real-time demonstration of this. These changes – social, technology, environmental, economic and political – require the insurance industry to take a hard look at how it serves and supports its customers.

The encouraging news is that whilst risks are increasing, so is our ability to understand them and to provide the most appropriate solutions. The increasing availability of

information, the digital footprint that we each create from social media, localisation services and purchases, are enabling extraordinary insights into our behaviours.

This combined with information technology now being used in all walks of life - think ‘smart cars’ or ‘smart houses’ - will enable insurance companies to accurately assess risk to provide cover that directly meets customer needs. These new technologies will directly reduce risks through monitoring and reporting, identifying emerging problems before they become catastrophic.

The changes and challenges ahead may be daunting but constant through this is our commitment to our customers. With the backing of our parent RSA, a leader in insurance and at the forefront of changing the industry, we remain true to our traditions, having provided local support for 35 years and being ‘here by your side’ through these uncertain times.

35 years supporting our local communities. insurancecorporation.com/community

35 years. Here, by your side.

#HereByYourSide

IN S U RAN C E

Brexit and Guernsey’s captive insurance industry The outcome of the UK referendum on 23 June 2016 to leave the EU was both shocking and unprecedented but Guernsey is well positioned to meet any challenges. Richard Sharp, a partner with Bedell Cristin explains.

As we know, Guernsey's status as a Crown Dependency gives it the right to make its own laws, including those concerning taxation and Brexit does not put Guernsey’s tax neutrality under threat.

Guernsey’s closest trading relationship is with the UK, but over the years, the island has successfully negotiated its own access to EU financial markets and there is no indication that Brexit will impact such access directly.

The UK government formally notified the European Council of its decision to leave the EU on 29 March 2017 by triggering Article 50 of the Lisbon Treaty. The exit period is expected to last at least two years while the UK negotiates the terms of its exit.

Adding to the complexity of the outcome is the recent general election result in which the conservatives failed to obtain the majority and mandate anticipated, making the process for and outcome of Brexit even more uncertain. Nevertheless, regardless of that election result, the following are amongst some of the expected effects on the European captive industry: Uncertainty Without doubt the first and most significant effect on captives will be the period of uncertainty while the UK negotiates the terms of its exit. Until the terms are settled, many businesses that operate captives will need to wait and monitor developments closely so that they are ready to adapt to the outcome. Any extension of the transition period will only be possible if all remaining EU member states agree to it. It is entirely possible, although not expected, that the negotiations might take less than two years, in which case businesses with captives may need to adapt that bit sooner.

Currency Following the Brexit decision, an initial consequence for insurers was an immediate fluctuation in exchange rates which affects companies operating in sterling or euros.

It is expected that captives will continue to experience exchange rate volatility that may have knock-on effects on solvency and credit ratings could also ultimately be affected.

Passporting The current EU passporting regime allows insurers that are authorised to provide financial services in one EU member state to also provide such services in other member states without having to be authorised to do so in the other jurisdictions.

A passport allows an insurer to provide insurance services across borders or to establish a presence in other jurisdictions.

Until negotiations have been concluded it remains to be seen whether insurers will continue to benefit from a replacement system that will allow similar access. This is important not just to UK insurers but also to EU insurers, who might particularly miss access to the global insurance centre that is London.

Regulation In the absence of passporting many see an increase in regulation as inevitable which will have a cost at a jurisdictional level and also a detrimental effect on the efficiency with which insurers can operate.

At this stage, we are not yet seeing any noticeable trends, as the industry waits to see how the exit negotiation progress.

Perhaps one immediate effect during this period may be the use of captives to insure against loss that might flow from the

shock of Brexit and the difficulties of the negotiation process, such as more pronounced exchange fluctuations.

The consensus appears to be that Brexit is not expected to have a detrimental effect on offshore captive domiciles and in fact it could prove to be an opportunity. Once Brexit is complete, companies could be making different choices about where they locate their captives. In a situation where there is no replacement for the current passporting system, captives that may have previously been established in the UK or EU may now consider Guernsey. In the interim, the fact that Brexit itself will not have any impact on its regulatory landscape means that Guernsey continues to be seen as a stable jurisdiction offering certainty in uncertain times.

The outcome and knock on effects of Brexit for the European captive industry remain to be seen and whether or not this represents an opportunity for Guernsey, the island will continue to look at other areas for future growth such as China. There has already been interest in Guernsey captives from two Chinese operations, a healthcare management firm, DINGTAI Health, and a film industry guarantee company, HLCG Film Guarantors, both of whom looked at various captive domiciles before settling on Guernsey. They provide just one example of the potential for Guernsey's captive business to continue to develop its worldwide footprint.

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I NS U R A N C E

No business is immune from cyber risks Steve Moullin, director at Rossborough Insurance, looks at how a specific cybercrime insurance policy can protect you against a host of unforeseen problems.

Cybercrime is not often the top of an entrepreneur’s list of things to address when setting up a business. But failing to consider the implications, both to reputation and your bottom line, can be dangerous.

Businesses have embraced the connected world, which has brought great efficiencies and advances, but also significant and largely uninsured exposures, such as reputational damage, supply chain interruption, loss of intellectual property, corruption of data and financial losses. Whilst not a mandatory cover, cyber risks should be assessed by all businesses, large or small, as traditional insurance policies generally do not properly cover cyber-related risks.

Cyber attacks are on the rise with 74% of small businesses experiencing an attack in 2015; SMEs fell victim to cybercrime more than seven million times over two years.

The cost of data loss is high, on average £110.30 per lost/stolen record. When multiplied by the potential thousands of records the average company holds, this would result in huge financial losses and impact on cashflow.

Furthermore, with EU General Data Protection Regulation (GDPR) coming into effect in May 2018, potential fines are now proposed at up to 4% of annual global turnover, or £20m, whichever the greater, these figures can be crippling to any business.

Operating systems are critical for a business’s daily use. Unplanned ‘downtime’ is not covered by standard business interruption insurance. When your systems have been compromised, you run the short-term hazard of financial loss, but also the longer-term risk of losing loyal customers and reputational damage.

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Cyber risks exist and manifest themselves in many different guises, from malware, denial of service or ransomware, employee comprised fraud, identity fraud, phishing or spear phishing scams, extortion and so on.

disruption to your systems.

There are also portable devices to consider.

A mislaid laptop, stolen iPad or lost USB stick are all examples of how businesses can lose data on the go.

Cyber reputation business income loss – covering earnings loss due to the loss of current or future customers within 12 months from the data breach or network interruption event.

Cyber policies provide an invaluable source of protection, from a 24/7 breach hotline so you have access to a dedicated team of experts to manage public relations, legal and forensic aspects and associated costs following a breach, to a multitude of other benefits including: Regulatory defence costs – the legal costs incurred to comply with any regulatory action taken against you following a data breach.

Privacy and security liability – in the event you suffer a data breach and find yourself sued by affected customers or employees.

This includes theft or altering of data, virus or malware, denial of service and other loss of data from your systems.

Cyber extortion – the costs you may incur should a hacker steal data from your systems and then demand a ransom to avoid leaking the information.

Media liability – in the event you are sued as a result of information provided within your multimedia channels – for example on your website, Twitter feed or Facebook page.

Typical examples would be breach of copyright, libel or slander, plagiarism or defamation.

Cyber business interruption – covering the lost income as a result of a network

Digital asset restoration – covering the costs incurred to restore affected data, after a breach or security compromise.

Cyber crime – providing coverage for the theft of your funds or assets through the manipulation or misuse by a third party of computer hardware, software programmes or systems and also as the result of you, or any financial institution acting on your behalf, having transferred your funds or other assets by relying on fraudulent electronic or telephone communications that purport to have been communicated or sent by your employees, directors, customers or suppliers. This type of crime is also known as ‘social engineering fraud’, ‘fake presidents’ or ‘impersonation fraud’.

Cyber crime cover can carry inner limits, and so you should ensure these are sufficient. Specific crime policies are available to cater for higher limits, and also can provide wider coverage to include theft by your employees or your service providers.

Ultimately, cyber insurance supports and protects a business, and its reputation, should it fall victim to cyber attack that compromises or paralyses their commercial systems or data.

Cyber insurance is just one type of insurance which start-up SMEs should consider.

There are many others, some of which are statutory. It can be complex determining the appropriate cover and so advice from an insurance broker with commercial insurance expertise is critical.

TEC H I N EDUCATION

Education and technology a double-edged sword Beth Brown is a student at Bath Spa University studying for a BA (Hons) in creative writing with English literature.

To give her a means of putting her training to practical use, Contact asked Beth to take a look at how technology continues to transform the learning environment.

When the word education comes to mind, many people will think of workbooks and blackboards, yet today’s students’ first thoughts will be more of smartboards, laptops, and tablets. In this information age, technology influences the fabric of our daily lives through the way we process and remember information. Technology is not a threat to education, but is one of its best allies.

The typical academic approach to learning is a blend of classroom discussion, seminars, and lectures, but more technology-based styles of learning are becoming incredibly accessible and can benefit the lives of islanders.

Following A-levels and/or BTEC, some students may feel conflicted about leaving the island for undergraduate study, often for reasons such as family commitments, lifestyle, and finance. Many universities are conscious of the outside factors which prevent individuals from obtaining their dream degree and alter the structure of their courses for this reason. Guernsey students should not have to cut their dreams short for wanting to remain on island, and distance learning can be the solution.

Distance learning is a style of education where the student learns and corresponds with a university via the internet through things such as email, Skype, and Facebook.

One of the best-known institutions for higher education distance learning is The Open University (OU), offering the ability to study with them from anywhere in the world.

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One major attraction of the OU and its competitors is their flexibility. All courses can be taken online with the same standard of excellence as national on-site universities.

The ethos of the OU is accessibility and it even provides free courses on its website OpenLearn (http://www.open.edu/ openlearn/#) and uploads educational videos on its YouTube channel ‘The OU on YouTube’.

Universities aren’t the only ones realising the assets of online education, freelancers and creatives have caught on too. YouTube, alongside being a popular entertainment platform for children and adults alike, is becoming a major nexus for education.

The benefits of educational YouTube channels are immense, as they allow people who can’t afford further education to challenge their thinking and satisfy their curiosity. Learning through YouTube is also extremely flexible, as individuals can watch at their own pace by pausing and replaying videos to better understand the content, whilst being educated in places that may not be traditionally linked with learning, e.g. on the bus.

One of the most prevalent innovators on YouTube is CrashCourse, a non-profit channel launched in 2012. Its founders are John and Hank Green (also known as VlogBrothers) who to date have over six million subscribers. Their selection of over 700 videos teach astronomy, biology, chemistry, ecology, and economics to name a few.

CrashCourse is financed through crowdfunding on its patreon.com page, where it’s always aiming to expand the educational scope. Each CrashCourse video is approximately 10 minutes in length, and is led by a host and is accompanied by stunning HD animation. CrashCourse videos

are anything but bland, as they fuse the vibrant and amusing style of vlogging with solid and well-researched material.

Other academic YouTube channels of note are TED, Philosophy Tube, Mental Floss, and Geography Now. For those individuals who seek out practical education instead of theoretical, How to Make Everything is a good port of call. The list of educational channels is long and there is a lot of great quality content to be found if you’re willing to dig deeper.

Although online education has many positive features, it’s not flawless. Following the market research of ChildWise, five to 16-year-olds sit for six and a half hours per day in front of screens. The likelihood of those hours being for leisure time is high, and adding digital learning time into the mix adds the risk of health problems and addiction. Additionally, if digital learning did dominate our education system in the future, the teaching industry could see a severe decline, and the development of children’s communication skills would suffer.

As with most things, moderation is key.

Being conscious of your own learning style will best reveal whether online education works for you. If you are a visual or auditory learner, distance learning may suit you well.

If you best process and remember information through physical activities as a kinaesthetic learner, a traditional classroom style of teaching could suit you better.

For some individuals, a combination of learning styles help them on their learning path. The coupling of on-site education and online teaching are perfect for those who crave variety. Technology doesn’t exist to hinder education, but to enhance it.

BU S I N ES S IN THE C OMMUNI T Y

ABN AMRO donates kayaks to Guernsey Sea Scouts

ABN AMRO Golf Academy praised as one of the best in Europe

Channel Islands Co-operative Society raises funds for Guernsey's Christmas lights appeal

Dandara Colour Run supports children with life-limiting illnesses

Credit Suisse raises funds for Frossard Children's Ward new play area

The HUB selected by RBC as beneficiary of 2017 Guernsey Harbour Carnival

Hawksford supports Jersey Island Games team

B U S IN E S S IN T H E COM M U NIT Y

Crestbridge quiz raises money for Special Care Baby Unit

Intertrust sponsors ECSOC 2017

Collas Crill supports Guernsey Alzheimer's Association

Lady Dalton opens new FNHC clinic

Children at Communicare Pre-school raise ÂŁ744 towards library

Guernsey Electricity donates fridge to Guernsey Welfare Service

Rossborough sponsors St Sampson's High School fund raising

Record breaking year for Saffery Champness Rotary Walk

BUS I NES S IN THE C OMMUNI T Y

C5 sponsors St Sampson's students' visit to Bletchley Park

Collas Crill supports GCFE sport student incentive scheme

RBC staff volunteer at Jersey Zoo

FCG sponsors third Tour de Sez

Garenne Group supports Guernsey Sailing Trust

Song written for Jersey Alzheimer's Association to raise awareness of dementia

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O N AI R

Service please!

Tindle Radio’s Mike Huston explains why customer service should be at the core of any business

I am very pleased that both Island FM and Channel 103 are involved in the Sure Customer Service Awards again in 2017.

We are proud to be involved but it goes further than that. Celebrating excellence in anything is a good thing, but recognising exceptional customer service is something that I feel very passionate about.

Unfortunately receiving bad service is still far too common, and of course this can take several forms but the experience for the customer is just awful and so we should all do what we can to embrace good customer service and to recognise its importance and indeed its increasing importance in the world of business.

There is no place for poor customer service in business. Now at this point I do have to admit that we are all human and one of the few guarantees in life is that we do make mistakes. There is a clear distinction between

a mistake, and poor customer service.

As humans though we are naturally very quick to complain when the service we receive and expect falls short. I am not sure that will ever change. However we can certainly shout more about the good experiences we encounter on these beautiful islands and I have to say there is so much to celebrate (thank goodness!)

I have had the pleasure for the last few years of being one of the judges for the awards and I always leave the judging room after several hours of deliberation and a few gallons of caffeine feeling very motivated and excited. There are simply thousands of people that take the effort and the time to recognise and vote for some of the great people and teams on our islands that simply go well beyond the call of duty, repeatedly.

As I get older I am sure I get grumpier (ask my work colleagues and fiancĂŠe!) but it does seem that there are people of all ages

who help make the experiences of so many people, good experiences.

As customers we should always be treated like we are the most important people in the world. We are! As people responsible for the execution of good customer service we should take the role and responsibility very seriously indeed.

As Guernsey prepares itself to celebrate these awards shortly (Jersey later this year), it is a great time to reflect on all the fabulous customer service that goes on. Well done to everyone that goes the extra mile.

Well done to all those who end up getting nominated. Congratulations to those who win an award. What you do impacts how people are made to feel and good customer service is infectious, so thank you.

As customers we should always be treated like we are the most important people in the world. We are!

As people responsible for the execution of good customer service we should take the role and responsibility very seriously indeed.

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