While some expats may be leaving T&T from some sectors of our economy, there are others who are coming to T&T to head up, develop and run companies in other sectors such as banking and insurance.In this series we have featured expats like Anya Schnoor of Jamaica, who is the head of Scotiabank T&T, Luis Prado of Shell T&T, and Bill Schultz of the USA who heads up Pan American Life.
In this instalment we feature Sharon Melville from Guyana, an accountant by profession, who has moved to Trinidad to head up insurance company Nagico, the one-day regional cricket sponsors.
With over 22 years of experience in the insurance industry in Guyana, she joined Nagico Insurances–Trinidad operation in 2012, in the position of finance manager and soon after was promoted to chief accountant, served as company secretary, and then later promoted to executive manager–Finance and Operations. She now leads the local operation in the capacity of general manager.
Q: Where were you born and where did you grow up?
A: I was born in Guyana and acquired my early education in the Pomeroon River, a remote village in the county of Essequibo, a far cry from where I now live here in Santa Cruz.
At what schools/institutions did you receive your education?
I attended one of Guyana's most esteemed secondary schools, the Anna Regina Secondary School and then gained my tertiary education at the University of Guyana, a Master's degree in business administration and a Bachelor of Sciences degree in accountancy. I am also a Fellow of the Life Office Management Institute (FLMI) of the USA.
How would you describe yourself?
I am a self-driven, successful operations executive with more than two decades of experience in the insurance industry. I am successful because I am a self-starter, a person who multitasks and works well under pressure. My professional achievements are unblemished and I give credit to my determination and resilience along with an elevated level of efficiency. Generally, I am a team player with a proven track record of managing and motivating employees at all levels within an organisation.
When and how did you get into the business of insurance?
Interesting, I basically walked into an insurer's office and handed my resume to the receptionist. She looked at it and then asked me to hold, while she took it to the insurance operations manager. I was immediately called for an interview and on April 5, 1994, my journey in insurance began.
Why did Nagico come to T&T, a small country with so many insurance companies already established?
My chairman's vision for the Nagico group is to be the largest privately owned insurance company in the Caribbean and T&T is seen as the mecca of insurance in the Caribbean, therefore getting into Trinidad was pivotal to our achievement of the group's vision.
What is your strategy to gain sustainable market share in T&T?
Contained growth. Engaging in strategies geared towards community development in keeping with Nagico's philosophy of community-mindedness.
Why did Nagico choose to sponsor the Super50 Cricket tournament? Why cricket?
Cricket has always been a personal passion of our chairman, group CEO and myself. Additionally, I believe that any opportunity that offers youth development through sports is worthy of my involvement. The Super50 tournament allows Nagico to give our future potential cricket superstars the ultimate opportunity to represent the West Indies as we saw this tournament as a door opener for them all.
Where do you see the company in five years?
Nagico must become a household name here in T&T. We are not focused on being the largest insurer, but rather, our focus is to deliver the best customer service in keeping with our tagline to be "Fast; Fair and always there."
How many hours a week do you spend on work? What about family/hobbies?
Too many (smiles). I am very often the last to leave the building, but I enjoy what I do. My kids are young adults who like their own space but I do make time to spend with them, although I have to make appointments for movie nights. My alone time is really important as well, so I spend time gardening and reading. I love to paint, but have not been able to do so recently due to an always overly packed work schedule.
What challenges, if any, do you encounter as a female executive and how do you overcome them?
Being perceived as overly nurturing, which is associated with being a woman, but I am comfortable with my decisions and my execution style. Ultimately, I believe that everyone under my leadership must be given an opportunity to grow and develop.
What do you foresee as the major differences in managing the entities here compared to Guyana?
Generally, there is a more active regulatory oversight body. AML/CFT awareness and compliance seem to be generally accepted as the norm by businesses. I also believe that there is more intellectual awareness in the insurance market. People know their rights and pursue them vigorously.
What I miss more is my business relationships which I developed over the years while I worked in Guyana. Now I don't have the luxury of picking up the phone and calling anyone of my business associates at a moment's notice. However, we are in exciting times and I welcome the opportunity to establish new business relationships in T&T.
What are the main reasons for your success?
I have a lot of support from the members of my team and the executives in the Nagico group. The members of the board, though firm, always encourage me. Coupled with the enormous support I receive, Iam by nature very determined. I work hard and I am never daunted by obstacles. In high school one of my teachers, Ms Etwaria Kumar, now deceased, described me as an individual who smiles under the worst circumstances...I still do. Most importantly, I pray continuously.
What is the most difficult part of your job?
It has to be keeping my finger on the "regulatory pulse." Regulatory requirements are becoming more and more complex. It can also be challenging trying to convince customers that the information is necessary.
Who have inspired you in your life and how?
In my personal life–my mom, such a tenacious woman. I love her a lot. In my professional life–Cynthia Harewood, an accountant with whom I worked in the past. My professional traits are as a direct result of my association with her...very brilliant, strong, yet humble individual, the person she remains even today.
Along my journey, I met other brilliant individuals who have also inspired me, including the chairman of the Nagico group, Imran Mc Sood Amjad, and members of the board of directors, namely Mark Teelucksingh, Lisa Fulchan, Ronald Knowles, Kyria Ali and Reza Amjad.
What special steps have you and/or your company taken to prepare you for your new challenges related to your presence in T&T?
Firstly, I must establish relationships with corporate T&T and I am working on that right now. Enrolling in the CRESTCOM programme, attending rotary meetings are steps which I have taken so far.For the company, we have an excellent reinsurance programme and our management team has been enhanced with qualified professionals who already have business relationships here.
Additionally, we have taken steps to engage the whole organisation in initiatives geared towards building internal capacity to become more responsive to this dynamic environment.
Describe your management style.
I am aware that to be an effective leader one must have a broad repertoire of styles and use them effectively. So I really do use them all, depending on the circumstances. Nevertheless, the one which comes naturally is coaching...my work is only effective if my team achieves and grows and there is a feeling of pride and accomplishment.
What do you feel are the greatest accomplishments of your career thus far?
Definitely leading this organisation. I knew I wanted to be a leader but I was more focused on running my own business. Never had I thought that I would be responsible for a company with assets worth millions of dollars, quite a privilege (smiles).
What led you to join Nagico?
My love for serving people, assisting them when in need financially, has brought Nagico and me together.
What are the main trends in your industry right now?
Product and premium selection criteria has been the trend by many insurers within the T&T market. Additionally, technological advancements have seen the emergence of new online relationships which are being formed and as this trend continues to evolve, we will see the evolution of the Insurance Industry in T&T.
What are the biggest opportunities for you in your industry?
I believe that I have an opportunity to show young people that they can grow in an industry that seems to be male dominated. Also, we as women can grow professionally and make it to the top. We can be leaders as well.
What are the biggest risks to your industry?
A catastrophic event. Also, a breach of trust can be detrimental.
Tell us about your inspiration to do the type of work you do.
As a child I loved to keep records, I made my mom's shopping list, prepared budget, and I remember vividly "writing-off" bad debts when my siblings did not return borrowed funds...that's how my fascination with numbers emerged. I love to help people...I am at my best when I can make a difference in peoples' lives, so when I was exposed to insurance I knew it was where I belonged. My dad, however, wanted me to become a doctor.
What are some of your more memorable experiences outside of work so far in T&T?
Attending the Central Bank Fete, my first experience...very interesting. Second–my visit to the Pitch Lake–quite awe-inspiring. Oh, I got lost, drove for about one hour before finding my way (laughs).
What daily motto/credo do you live by and in a few words, your recipe for success?
I live by a quote from author and motivational speaker Gary Ryan Blair, "Do more than is required. The difference between someone who achieves their goals consistently and those who spend their lives and careers following is THE EXTRA MILE." I encourage everyone who works with me to do so.
Describe yourself in two words, one beginning with S, the other with M (your initials)?
Smart and meticulous, the first two words which came to mind.