The Australian Centre for Financial Studies (ACFS) has partnered with the Australian Mathematical and Science Institute (AMSI) with ‘AMSI Intern Program’ to launch an innovative PhD intern program aimed at delivering access to high-end quantitative and analytical expertise to finance firms.
Based on the international success of Mitacs Program in Canada, which places more than 1800 students a year into internships, the innovative AMSI Intern – ACFS Internship Program model connects highly skilled and motivated PhD students (mentored by an academic supervisor) to solve problems within financial institutions. Students are drawn from all disciplines including mathematics and statistics, science, engineering, social and biological sciences, business and economics and introduce a new skills set into the workplace with the specialist knowledge of an academic supervisor.
Speaking about the new partnership with AMSI Intern, Prof Deborah Ralston, Executive Director of ACFS, commented: “This program is a response to the often stated need for highly skilled quantitative graduates to work on short term complex analytical finance problems. Not only does this model present an extremely cost effective solution to that problem, but the four to five month period of the internship can also reduce the risk of recruitment.”
Professor Geoff Prince, the AMSI Director, said, “I am particularly pleased with this partnership with the ACFS having had a number of my own PhD students work in the finance sector. AMSI Intern will provide a tried and tested way for finance, banking and insurance companies to get access to high level skills from a variety of backgrounds to deliver innovation and competitive advantage.”