GRADUATION LECTURE SPEECH TITLED "THE PROFESSINAL AND NATION BUILDING" GIVEN BY MR. WOLE OSHIN

GRADUATION LECTURE SPEECH TITLED "THE PROFESSINAL AND NATION BUILDING" GIVEN BY MR. WOLE OSHIN B.Sc, MBA, FCIIN, ACII, AT THE 2012 GRADUATION AND AWARDS CEREMONY OF THE CHARTERED INSURANCE INSTITUTE OF NIGERIA HELD ON WEDNESDAY 5TH OF DECEMBER 2012

The Financial Reporting Council (FRS) in a recent newspaper advertorial requested that all professionals working in quoted companies and significant public interest companies should immediately register with it. The advert raised a debate in my office with one school of thought of the opinion that all staff should register and another was of the view that only the Chartered Accountants, Chartered Insurers, Lawyers etc. should register. For fear of not wanting to get on the wrong side of the law we decided to contact the FRC for their definition of a professional. Unfortunately, as at the time of writing this speech they had not responded. Be that as it may, the question "who is a professional?" begs for understanding. Are teachers, nurses, plumbers, clerks, doctors, lawyers all professionals? Who do you think of when you say a professional? I stumbled across an article by a Harvard Professor who essentially says a professional should have ethical responsibility. A professional provides a service. A professional is a service provider just as a mechanic or plumber except that he subscribes to a code of ethics.

In some professions you are not considered a professional until you stand up and take a vow. In medicine, they take the Hippocratic Oath. You have vows in the military to serve your fatherland. In some religious orders you take a vow of chastity. In others you impliedly sign into the code of ethics. It is this code that professionals are supposed to hold true to.

We live in a nation where rules and regulations are not respected. A nation that makes heroes of corrupt politicians and leaders; a nation so dysfunctional that the youth no longer know the difference between right and wrong nor do they see a clear line of distinction between good and evil. Nigeria has lost its way and it is our responsibility to steer the ship of the nation back on course. This however, can only be achieved if each and every one of us play our part in our different places of endeavour. We must hold firm to core values which should be the guiding pillars of our life and career. In understanding a framework for these principles I realized that if all professionals stand by the code of ethics of their various professions, Nigeria would be at worst a developing nation.

The failure of our institutions, the banking sector, education, civil service in many cases is largely attributed to the President, Ministers, Chief Executive Officers and the Board of Directors. But in reality there are a chain of professionals who directly or indirectly serve as advisers. There are lawyers, bankers, accountants, insurers, and even analysts who advice Government and the Boards on various situation reports. More often than not they are never mentioned but yet they play significant roles in the destinies of institutions.

Permit me therefore, at this point to share some of these core values or better still, code of ethics which are partial extracts from the Chartered Insurance Institute, UK.

UPHOLD HIGH ETHICAL STANDARDS

Being honest, trustworthy and open:

Do people trust you? If not, why?

Do you think it is okay if you are not caught?

Being reliable, dependable and respectful. Do what you say and say what you do. Talking the talk is so prevalent that walking the walk is rare these days. We should learn to engage our brain before talking so that we don’t lose our hard earned trust.

Do not take unfair advantage of the client, your colleagues or even third parties

Bear in mind your actions in and out of work could bring disrepute to your organization or even the industry. What would an outsider think of what I am doing and does this matter ethically?

Not offering or accepting gifts, hospitality which could appear disproportionate to the service that you render. Do you ask the question why am I being entertained or offered hospitality or gifts?

Work within the code of conduct of your organization. Do you know if your company has a code of conduct and do you understand it?

ACT IN THE BEST INTEREST OF YOUR CLIENT

Encourage fair treatment of your clients. Do you act fairly towards your clients, employer or colleagues? Are your opinions and statements objective?

Give your clients full disclosure to allow them make informed decisions (except confidential information)

Respect confidential information of all clients.

Ensure information from the office is not used unjustly and for personal use.

Turn down work where there is a conflict of interest.

LAW ABIDING

We must deal with our regulators and the institute in a clear and cooperative manner.

We must work not only within the law but in the spirit of the law

Set up and ensure your compliance unit is abreast of regulations from both the Institute and the various regulatory bodies e.g. NAICOM, Securities and Exchange Commission (SEC), Stock Exchange, etc.

PROVIDE A HIGH STANDARD OF SERVICE

Become an expert in the skills and tools necessary to do your job

Accurate and straightforward communication which is clearly understood.

Transparency in fees and costs.

Ensure adequate and correct records are kept.

Act with skill, care, and diligence.

Acting within your ability and seeking assistance where necessary.

Keep your knowledge up to date

　

　

　

EQUITABLE & JUST TREATMENT OF PEOPLE

Obey equality and diversity laws of your company and the country

Always act openly and fairly and treat employer, employees, colleagues, clients, with equal respect and opportunity.

Show kindness to all people in particular those under disabilities that can be dealt with at work

With all these in mind we are here today celebrating a crop of bright, intelligent, dedicated and hardworking men and women who have burnt the midnight candle, scaled the rigorous, demanding and difficult examinations of the institute. They will today be addressed as Charted Insurers. The chartered status proffers on you the nobility of professionalism. It confers on you a status looked upon by many in the industry and far afield with envy. It confers on you dignity, knowledge, dedication, and above all integrity. Your cohort is expected after today to go out into the world and impact it positively in whatever your chosen area of specialization either as an insurance broker, loss adjuster, underwriter, risk manager, or an insurance manager in a government agency.

Today we congratulate you with an assurance that you will make the desired impact in our great industry and indeed our nation Nigeria. As a professional you are expected to lead and guide the industry and in turn lead our nation. Bear in mind however that your primary responsibility on the job must not conflict with your secondary goal which is personal. If it does, then have a re-think.

On a final note I thank the President and Council members of the great institute for giving me the opportunity to present this paper. Long live the Chartered Insurance Institute of Nigeria. Long live Nigeria.

Thank you.