Attracting and retaining skilled professionals in a small jurisdiction
The company management sector in the Cayman Islands operates in a niche, high-skill environment. As such, attracting and retaining professionals with the right mix of technical capability, regulatory awareness and client-service mindset is a strategic imperative. Below we outline key facts about the local talent environment, training-ecosystem developments and retention challenges.
#1 The local talent environment
The financial services industry in the Cayman Islands employs approximately 6,724 people according to recent data, and around 54% of these roles are held by Caymanians.
The sector is the Islands’ largest employer of women. Nearly 60% of its workforce is female, and one in five women in the workforce work in financial services.
For many specialised roles in compliance, corporate and regulatory services, employers note that locally trained candidates are fewer in number, requiring recruitment of expatriate professionals or upskilling of mid-career staff.
#2 Training and development infrastructure
The Cayman Islands Financial Services Institute (FSI) offers accredited training programmes including a “Cayman Islands Compliance Diploma” and an “International Financial Services Diploma”, in addition to online certificate courses on AML/CFT and other regulatory topics.
Initiatives such as the Alternative Investment Management Association (Cayman) (AIMA) partnership with the CareerMasters Foundation aim to build a pipeline of talent early, including work-experience placements, mentoring and training for young Caymanians.
Society of Trust and Estate Practitioners (STEP) qualifications are available online in the Cayman Islands through the local partner Cayman‑Islands Licensed Trust & Company Manager Training Institute (CLTI) which offers the “STEP Diploma – International Trust Management Pathway”. Similarly, ACAMS (Association of Certified Anti-Money Laundering Specialists) offers education supporting CAMS and advanced ACAMS credentials.
#3 Attraction and retention challenges
Employers report that attracting talent in Cayman is more than just offering strong compensation: culture, flexibility (including hybrid work), growth opportunities and clear career paths matter significantly.
In every small jurisdiction, the depth of the talent pool is limited. This means that for higher-level or niche roles (for example in compliance, funds structuring or regulatory admin) there can be competition with other firms or jurisdictions.
Retaining skilled professionals requires deliberate investment in development and engagement: those who feel their growth is stalling or that they are working in a “static” role often look elsewhere. The employer brand and value-proposition (role content, training, advancement) matter.
#4 Implications for company management firms
For firms in the company management sector, the facts above translate into several practical considerations:
Training frameworks: Firms should consider embedding structured development plans for junior and mid-level staff, e.g., funded certifications, mentoring, rotation through different service lines.
Role design and growth path: Designing roles that offer genuine progression, cross-function exposure (corporate services, regulatory advisory, client relationship) and clear performance benchmarks will help retain staff.
Culture and flexibility: Attracting candidates increasingly depends on offering a compelling work-life balance, clarity of role purpose and adaptability (e.g., hybrid working, professional development allowances).
Competitive positioning: In a competitive global talent market, firms should benchmark compensation, benefits and training against both the local industry and relevant international hubs.
Succession planning: With a limited pool for senior roles locally, firms must proactively identify “next-tier” leaders and ensure knowledge-transfer, mentoring and stretch assignments to avoid talent bottlenecks or attrition risk.
#5 Looking ahead
The continued growth of the Cayman Islands as a leading jurisdiction for corporate and fund services means demand for high-calibre professionals will remain strong. As regulatory complexity increases and clients expect more from management firms (governance, transparency, service excellence), the need for skilled, adaptable professionals becomes more acute. Firms that view talent and training not as a cost but as a strategic asset will be better placed to sustain service quality, institutional knowledge and regulatory resilience.
