Since 2007, the Department of Employment has been offering young people a diploma equivalent to three years of university studies, as a sandwich course. As a reminder, this first diploma for professional training that is specific to the Principality was created jointly by the Department of Employment (via the Youth Employment Unit), the Monaco Association for Financial Activities (AMAF) and – in its initial version – the Bank Training Institute (IBF) of Nice. Part of the educational content was designed by professionals, so it therefore covers issues relating to the Monegasque banking sector.
This year, this training has been given a new look – "The Bachelor in Business Administration," with a "Monaco Banking and Financial Services" option. This diploma reflects the practical needs of the employment market and is primarily aimed at Monegasques, residents of the Principality and young people from neighbouring towns. The International University of Monaco (IUM), a new partner, will advise on the educational aspects.
This "100% made in Monaco" training was validated last May by the National Education Committee. Note that the cost of this training is covered by the employers, and then reimbursed by the Prince's Government (for young people from the Monegasque school system). The apprentices also receive a salary.
For the very first intake – 14 students – the official start of the new term began last September with a month-long preparatory course. The classes will continue (at the rate of two days per week) until the examinations in June. The young people will then be ready for work immediately. Three days a week are devoted to training in a bank. This year, twelve or so banks will host these young apprentices as part of their training. As the linguistic aspect of the diploma is fundamental, the first six months of the course will be given in English.
The quality of the teaching provided by the IUM (which is already a partner of AMAF with regard to professional certification) and the effectiveness of the public/private partnership are valuable contributions to this new option.
Stéphane Valeri, Minister of Health and Social Affairs, is supporting the introduction of this new training. Today, at the IUM, he met with the various partners involved: the Department of Employment, the Department of Education, Youth and Sport, the professionals, who are exemplary partners in this training, Jean-Philippe Muller, Director-General of the IUM, and, of course, the young people who are pursuing the "Monaco Banking and Financial Services" option.
A report will follow shortly on Monaco Info and Monaco Channel.
Youth Employment Unit
2, Rue Princesse Antoinette - Tel: +377 98 98 41 78