The Australian Centre for Financial Studies (ACFS) has partnered with the Australian Maths and Science Institute (AMSI Intern) to launch the AMSI Intern – ACFS Financial Services Internship Program; an innovative PhD intern program that enables finance firms to gain access to high-end quantitative and analytical expertise to address short-term research needs.

Does your organisation have a research need?

AMSI Intern program provides a cost effective solution for a research challenge facing your organisation. A not-for-profit organisation based at The University of Melbourne, AMSI Intern has an established network of postgraduate students who stem from Australia’s leading educational institutions, AMSI’s Members.

Based on the international success of Mitacs in Canada, the innovative AMSI Intern model connects highly skilled and motivated PhD students (mentored by an academic supervisor) to solve problems within financial institutions.

Students are placed from all disciplines including mathematics and statistics, science, engineering, social and biological sciences, business and economics and introduce a new skill set into the workplace with the added specialist knowledge of an academic supervisor.

Key Benefits

  • Quick turnaround times coordinated and facilitated by AMSI Intern
  • Access high-end quantitative and analytical expertise that may not currently exist within your business
  • Flexible, short-term 4-5 month placements drive research-based decisions for high priority projects
  • Cost effective model aligns with the organisations budgets and research time lines
  • Funding may be available for SME’s
  • Claimable on R&D Tax Incentive
  • Increase quality of workforce within the Australian financial and investment community
  • Gain a competitive edge and increase effectiveness within your organisation
  • Well prepared students are ready for industry having completed the FINSIA industry perspective program
  • Build your talent pipeline and provide a platform for recruitment opportunities
  • We will ‘match’ your research needs with the correct skill set – you choose the intern

The Evidence
‘The Intern Program is a switch that connects industry and universities together for research collaborations.’

Dr Arvind Gupta, CEO & Scientific Director of Mitacs which places more than 2000 interns into industy each year.
‘Overwhelming evidence that the before-fees performance realised by products managed by firms employing PhDs exceeds the performance realised by their matched (by investment objective, product size, and previous performance) non-PhD counterparts.’

Frédéric Ducoulombier, EDHEC – Risk Institute and Director, Asia noted in February 2014 newsletter

‘Work-readiness of our PhD students, and the links between industry engagement and national productivity, are critically important matters for this country…The AMSI Intern program is one such shining example.’

Prof. Ian Chubb, Chief Scientist of Australia

The Process – 5 quick steps

  1. Describe your research problem to AMSI Intern
  2. Review student résumés and academic mentor biographies sourced by AMSI Intern – confirm a shortlist
  3. AMSI Intern facilitates interviews between industry partner, students and academic mentors to discuss project key objectives and deliverables
  4. Review/approve project proposal developed by student and academic mentor
  5. AMSI Intern facilitates all administration including signed contracts by the organisation, University and student

Program Costs

  • $3000 per month is paid to the student for the duration of the internship
  • $5500 is paid to the academic mentor for their participation in the program (one off payment)
  • $5500 is paid to AMSI Intern for administrative costs of project management and pre-placement training (one off payment)

Total costs: 4 month internship $23,000*, 5 month internship $26,000*

* Small-to-medium sized enterprises may be eligible for state government funding where available. Contact us for more information.

AMSI Intern closely manages all intern placements to ensure key deliverables and outcomes are achieved. All students and academics are required to present findings midway through the placement and at its completion.

Further details on the the AMSI Intern – ACFS Internship Program can be found in the document below.

AMSI Intern – ACFS Financial Services Internship Program