The Centre

The Small Countries Financial Management Centre (SCFMC) was established as a charity (company limited by guarantee) in the Isle of Man in June 2009. Its purpose is to contribute to the growth and prosperity of small countries through capacity building in the government financial sector.

The SCFMC achieves this through the provision of targeted executive education programmes conducted by practitioners and academics to provide improved skills, deeper understanding and best practice around financial regulation, risk management, and broader management of government financial activities.

The Centre was established through a generous financial commitment from the government of the Isle of Man. This funding enabled it to develop and implement annual two-week core programmes between 2009 and 2018, which benefited a total of 241 officials from 31 small countries. The World Bank and the Commonwealth Secretariat were both key partners in the establishment of the Centre and have also contributed funding to its initial annual programmes.

The governance of the Centre is based on multilateral principles. The chairman of the Board of Directors (currently a former senior official of HM Treasury) is independent of any official body or government. Developing small countries are represented on the board by a past participant.  Donor countries and organisations are represented by an official from the Isle of Man Treasury.  Additional seats on the board remain available for other donors as further resources are mobilized. The past Executive Director, a former senior World Bank official, is also a member of the Board.  The Chairman and Directors all contribute their services unpaid.

The Isle of Man government provides further in-kind support, notably through the provision of the facilities of the Isle of Man College.

In addition to its close working relationship with the World Bank and the Commonwealth Secretariat, the Centre is indebted to a number of international bodies and governments, which have provided advice and guidance on the priorities for the content of the annual Small Countries Financial Management Programme. The former and current Programme Directors, who lead the design and implementation of the curriculum, are Associate Fellows of the Saïd Business School (SBS) at the University of Oxford.  Several other members of the SCFMP faculty teach at SBS or in other entities at the University of Oxford.

The first week of the annual core programme is held in the Isle of Man and second in Oxford. The faculty represents a blend of leading academics and practitioners.

Plans are under consideration to expand the scope of the SCFMC's work through annual follow up programmes in the Caribbean, Africa/Indian Ocean, and the Pacific, to which participants from the core programme could return six, 18 or 30 months after they have been in the Isle of Man and Oxford.  The programmes would be designed to give continued guidance and the further sharing of experiences on the new approaches to their work engendered during the original programme to ensure that the lessons from the programme are embedded and sustained. These programmes would also facilitate the inclusion of a geographic dimension by drawing on specialized regional expertise.

The Centre also facilitates networking and sharing of best practice among officials who have participated in its programmes.

The Centre is located at the Nunnery, an historic building on the outskirts of Douglas. The peaceful surroundings of the Nunnery are ideally suited to executive education. In addition, the Centre is fortunate to be able to use the exceptional facilities at the Fort Anne for part of the Programme. 

IBS Lo Res

NEXT SESSION

30th June - 12th July 2019

Please note that the closing date for Applications is the 14th February 2019

View programme details

Selection Criteria

2019 Application Form (Word Format)

Previous Attendees

Find out which small countries have previously participated in the SCFMC programme.

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