EXECUTIVE DIRECTOR’S LETTER
Unit Trust Corporation
Annual Report 2012
38
company financial statements and the role
of mutual funds in the financial sector.
In 2012, we continued to promote finan-
cial literacy and financial market awareness
among the investing public through our
bi-weekly radio segment on i95.5fm, our ed-
itorial column in the Business Express news-
paper entitled “U and Your Money”, and our
segments on the popular morning television
program“First-Up” hosted on Caribbean New
Media Group (CNMG).
Refocus on the Customer
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New UTC Financial Advisory andWealth
Management Service
The Unit Trust Corporation will be launch-
ing a new Financial Advisory service in
2013 catering to both new and existing cli-
entele. This service will allow us to actively
engage and foster deeper, long-lasting re-
lationships with our clients and their fami-
lies while helping them to understand the
critical processes involved in laying a firm
foundation for a healthy financial future.
The service will incorporate a financial
counselling and advisory program. This
initiative would be vital in assisting our cli-
ents to adequately plan for important life
events such as retirement, buying a home,
providing for material, unforeseen future
expenses (e.g. major medical costs) and
also wealth accumulation.
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Enhancements to the Distribution
Network
As at the end of 2012, the Corporation’s
distribution network comprised ten (10)
Investment Centres, six (6) On-Line Agency
outlets and sixteen (16) Automated Teller
Machines (ATMs). In support of our ob-
jective of streamlining agent processes
and contact, a new “Agent Administration
Manager” was appointed in 2012 with
responsibility for the agent network. On
June 1st, 2012 the Corporation added
a new on-line agency to its distribution
network based in Grand Bazaar. This
agency is operated by Mr. Sheldon Trim
and Ms. Jamela Akinlana, who also oper-
ate an agency at Tunapuna. Furthermore,
on December 18th, 2012 another on-line
agency was opened in San Juan which is
being operated by Mr. Garth Thomas. Mr.
Thomas already manages another on-line
agency based in Gulf City.
Commitment to Our
Nation’s Youth
In 2012, we hosted thirty-six (36) students at
our Vacation Internship and World of Work
Programmes which are designed to assist stu-
dents in transitioning from their academic lives
to the world of work by affording them oppor-
tunities to gain vital practical work experience.
Additionally, we partnered with the
Department of Management Studies at the
University of the West Indies (St. Augustine
Campus) and participated in their Student
Career Enrichment Programme. This pro-
gramme is designed to enrich the learning
experience of final-year undergraduate stu-
dents. Participating students were able to
then bridge the gap between the theoretical
aspects of Human Resource Management
and its practical application.
Corporate Social Responsibility
In 2012, the UTC continued to demon-
strate its longstanding commitment to var-
ious communities throughout Trinidad and
Tobago. In total, the Corporation sponsored
and donated funds in excess of TT$600,000
covering the areas of education (via our flag-
ship SEA scholarship program which pro-
vides scholarships for high-performing sec-
ondary and tertiary level students who are
otherwise challenged to fund their educa-
tional needs), sport, culture, health and other
Non-Governmental Organizations (NGOs).
Furthermore, with the Corporation’s support,
our employees volunteered their time and
efforts to assist with various community
outreach programs. At the UTC, we firmly
believe that by actively engaging our local
communities, individuals and families in
need, we can contribute towards their
growth and development. In so doing, we
hope to positively impact national growth
and development. This process also affords
us the opportunity to build bridges, cultivate
and cement meaningful relationships with
other stakeholder groups.
Human Resources
Developments
In order to position the organization for com-
petitive sustainability and aid in the attain-
ment of our strategic objective of “improving
efficiency”, the Corporation embarked upon
an organizational wide restructuring exercise
which was executed on a phased basis over
2012. As a result, there have been changes
at all levels throughout the organization.
We recruited and selected an Assistant Vice
President to head the UTC’s first Internal
Audit Team, and are currently in the process
of finalizing the staffing arrangements for
that unit. We remain confident that these
organizational changes will further enhance
the Corporation’s ability to more efficiently
exercise its duty of care to unitholders.
During the year, the Corporation conducted
a Job Evaluation Exercise which entailed job
analysis and the documentation of positions
within the organization. This exercise was
concluded in December 2012.
As a platform to support the development
of our employees, improve performance and
embed a culture of performance excellence, as
well as individual and team accountability, the
Corporation commenced work on the design
of a new Performance Management System.
This performance management tool for strate-
gy execution will be launched in 2013.
Appreciation
Following on from our 30th anniversary
celebrations held in November 2012, the
Corporation hosted a gala function with the
theme “
Celebrating the Past, Present and Future
”
at the Hilton Trinidad and Conference Centre
