Working in an offshore jurisdiction brings along with it many unusual jobs and job titles that don’t exist elsewhere. As recruiters we are often asked about the different jobs on offer and the experience and qualifications needed to apply, Corporate administrators are just one of these roles that brings along the most misunderstanding and questions as the title can be misleading.
Corporate Administrator (sourced data: CML 2011 Salary Survey)
Average salary range (Cayman):
US$50,000 – $70,000 (mainly non-qualified)
US$70,000 –$100,000 plus (qualified candidates)
Average opportunities with in Cayman: 2 vacancies per month
Average Entry Requirements:
- Minimum 2-3 years administration experience in corporate, trust or legal fields.
- Team player and ability to work to tight deadlines
- Excellent interpersonal skills
- Impeccable time management skills
- Excellent typing speeds and MS Office skills
- Exposure to industry systems such as Viewpoint, Coris, Filesite etc would be an advantage
Many of the companies incorporated within an offshore jurisdiction like Cayman are investment holding or dealing companies holding investments throughout the world.
The majority of offshore companies are registered and managed by specialist company management businesses. Larger organizations and institutions generally have their own company management or corporate administration departments that provide a similar, in- house service.
A corporate management/corporate administration department will provide a wide range of services but the basics tend to be;
- Preparation and application of the company formation – registering the companies within the offshore jurisdiction
- Registered Office facilities – basically providing an official address.
- Director services – directors who are able to control and be satisfied with the activities of the company
- Company Secretary – responsible for compliance to local and international statutory obligations
- Record keeping and administrations – including minutes of meetings, communication with members, directors etc all company records
A corporate administrator will become involved in some, if not all, of the activities above, depending on their experience and authority level. However, the majority of duties would fall under the compliance, record keeping and administrations sectors.
The most widely recognized professional designation within corporate administration is ICSA – the Institute of Chartered Secretaries and Administrators which studies high standards in corporate governance. Most senior level positions will require an ICSA qualification however many companies support the study of this qualification for junior or mid level corporate administrators.