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With its continued focus on maintaining the highest ethical standards, CFA Society of Cayman Islands (“CFASCI”) launched its Inaugural Ethics Challenge at the International College of the Cayman Islands (“ICCI”). Representing the CFASCI in hosting the event were Richard Maparura, CFA, Education & Membership Chairman and Siddhant Jain Jaiswal, CFA, Audit Manager at Ernst & Young (EY).

The Ethics Challenge tasked ICCI student teams to analyze and evaluate a case study identifying ethical dilemmas based on the CFA Institute Code of Ethics & Standards of Professional Conduct with the goal of increasing knowledge and professionalism among the students as future leaders.

On April 4, 2019, the two teams which consisted of students from multiple disciplines presented their findings and recommendations to a panel of four judges: Mr. David Luu, President of CFASCI, and a Vice President at Harbour Trust Company Fiduciary Services (Cayman) Limited, Mr. Marcelo Suarez Castillo, Vice- President of CFASCI, and a Director of Institutional Asset Management at Scotiabank and Trust (Cayman) Limited, Mr. Gamu Usai, a Chief Analyst at Cayman Islands Monetary Authority, and Ms. Melisa Bent-Hamilton, the Registrar at ICCI.

The winning team was determined based on their ability to identify and understand the ethical issues in the case, and provide in-depth recommendations based on their analysis. The judges also assessed presentation skills, and the ability to respond to the open-ended knowledge-based questions.  While both teams performed admirably, the winning team: Monique McGee, Business Major, Associate; Tashae Lawson, Accounting Major, Associate; and Zytka Coleman, Business Administration Major, Bachelor; walked away with the top prize. “We are indeed proud of the level of professional and in-depth analysis presented by our students, said Ms. Bent-Hamilton who was one of the coaches for the students, “the winning team brought creativity by not only identifying the ethical issues of the case, but offered solutions or the more appropriate ways to handle each issue as managers of the organization.

EY was proud to sponsor the Ethics Challenge this year as it supports the Cayman Islands community and helps develop future leaders. Marco Calleja, a partner with EY Cayman limited said. “Integrity and sound judgment are pillars of our industry, and shaping ethical and critical thinking in students is key. It is also inspiring to see that the students are so well prepared for their careers.”