Governor throws lifeline to state's banking, insurance industries

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Connecticut has the highest concentration of insurance jobs and key financial occupations in the nation, and a workforce of more than 144,000 insurance and financial services professionals.

Gov. M. Jodi Rell today announced the state is dedicating grant funds to a program that will help the state retain, create and attract insurance and financial services jobs.

Connecticut has the highest concentration of insurance jobs and key financial occupations in the nation, and a workforce of more than 144,000 insurance and financial services professionals.

The state is dedicating $250,000 from a federal grant used to establish Connecticut’s Insurance and Financial Services (IFS) Center for Education Excellence to help companies assess the capacity of their workforce and provide training to meet new business requirements and mandates.

“Connecticut is especially susceptible to the ups and downs of the market because so many of our residents work on Wall Street or work for companies with important Wall Street connections,” Rell said. “And few industries will see greater change than banking, insurance, real estate and other financial institutions.”

“I have directed our Department of Economic and Community Development to focus the IFS Center’s award-winning talents on helping the state’s financial services sector weather this global economic crisis of confidence,” Rell said.

The IFS Center has a two-pronged plan:

Assessment – work with companies currently re-evaluating their workforce needs in response to the financial crisis

Training – provide training to develop the skills employers need to meet changing business demands.

The IFS Center has already introduced one of the country’s first Associate of Science degrees in insurance and financial services, which is now offered by Capital Community College in Hartford and Norwalk Community College.

The Center also has developed a Business Analyst certificate program, to meet the growing need for information technology professionals with analytical skills.

The Center has enrolled 459 workers from more than 47 companies to meet the demand for professionals such as financial analysts, underwriters, risk managers and accountants.

The new program will be administered through The WorkPlace, Inc.

The project manager and fiduciary for the IFS Center. Training will be provided through Capital Community College in Hartford and Norwalk Community College.

IFS Center for Educational Excellence, established in 2006, is funded by a federal Department of Labor “High Growth Job Training” grant.

For information about the IFS Center, how companies can participate or eligibility for no-cost training, contact The WorkPlace at (203) 610-8528.

For More Information: http://mansfield.htnp.com/business_news/funds_to_help_ct_insurance_banking_industries.html