Cara Lambe

Biography

Let’s get a little candid for a moment. Tell us something that surprised you or that you least expected after you graduated from the GTP.

I never expected to switch from working in the Supervision (Insurance) department to a non-insurance role within the Policy Development, Strategy and International Affairs Department. It has been a surprising transition! Although I keep an eye on insurance developments, I have embraced a whole new world of financial service issues and potential risks. The change has been very rewarding both personally and professionally.  

How have you changed if you compare yourself now to when you first entered the GTP programme? 

Since starting with the GTP programme as a graduate, I have learned a great deal and experienced tremendous professional growth. My knowledge base has also expanded and my public speaking and interpersonal skills have been greatly enhanced. I’ve learned the value of applying transferable skills from other professional experiences and educational endeavours to my work at the Authority. Together, all of these opportunities have allowed me to cultivate my own unique personal brand and approach. 

What was the most valuable guidance you have received from a manager or colleague during the programme, and how has it helped you?

The best advice I ever received from my manager is to shift my perspective and view challenges as opportunities for growth. As the BMA serves the financial services sector and builds relationships internationally, the organisation continually refines its approach to executing its objectives, which are ever-evolving with the pace of the financial services sector. This has resulted in various changes to my departmental reporting structure since starting as a graduate trainee. I have learned to adapt to changes in the workplace by seeing them as opportunities to grow.  

What project or accomplishment during the programme are you proud of and why? 

I am very proud of a number of accomplishments. One was leading the Graduate Trainee Research Paper on sustainability. This project was well received by senior management. I also had the opportunity to present the final product to the Bermuda Monetary Authority’s Board of Directors. That was a very proud moment! 

What aspects of your secondment have best prepared you for success in your current role?

Unfortunately, I did not attend a secondment due to the COVID-19 pandemic. However, I did have the opportunity to travel alongside BMA Senior Management to represent the BMA at various meetings with our international stakeholders I have benefitted greatly from these experiences by learning how to carry myself appropriately in highly professional settings, becoming comfortable and confident with networking and meeting new people, and seeing how international regulatory matters evolve first hand. 

What course/certification/designation earned during the GTP best prepared you for success in your current role?

During the GTP, I pursued a Graduate Diploma in Law. Certain modules within this program, such as EU Law, the UK legal system  and my research assignment on UK insurance law, helped deepen my understanding of the legal foundations of the financial services industry in a new way. I selected this course to understand the basis of international policy and regulatory issues. I also desired to learn the appropriate way to interpret statutes, which I believe will be useful to assist in future work on international assessment of the BMA’s regulatory framework.  Understanding the EU’s outlook on intercontinental and international cross-border activities has helped me to understand the basis of various EU policy items that I have researched during my traineeship. 

Learning about UK insurance law has helped me to understand the nuances of insurance contracts and the history that has contributed to the long-established insurance sector in the UK. Contract exclusions have recently been a key issue for UK regulators, particularly related to business interruptions from the Covid-19 pandemic – it is great to see the theoretical aspects manifest in real regulatory issues.  Studying the law in general has helped me to cultivate better critical thinking skills on international issues, as a legal mind must know how to confidently argue for both sides. 

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