In early February, five students from the Sobey School of Business’s Master of Finance (MFin) program competed in the CFA Societies Canada Ethics Competition. This competition, run by the Chartered Financial Analyst (CFA) Societies Canada, aims to prepare students for the ethical decision-making that comes with their future careers. In between a tight academic schedule of assignments and midterms, the team was tasked with analyzing and presenting a case study given to them by the local CFA society, CFA Society Atlantic Canada.
“A lot of work goes into competing in the CFA Ethics Competition,” says Ross Hallett, faculty advisor for the competition and Academic Co-Director of the Sobey School of Business’s IMPACT fund. “Once the team is set up, they have 2 weeks from the time they’re given the case to prepare their presentation. There is a fixed number of hours that I’m allowed to mentor them, so a lot of their preparation is self-directed.”
At the end of their preparation window, teams present their analysis of the case and their recommendations to a panel of judges. “Every team is allocated 10 minutes to present the case, which is then followed by 10 minutes of questions by the judging panel,” explains Student Team Coordinator Souvik Sinha. “We researched a real case study which had multiple ethical issues, and as a team, we identified these violations and shared our recommendations.”
The CFA Ethics Challenge is a significant undertaking. Students are not only tasked with studying the case given to them; they must also demonstrate an in-depth understanding of the CFA Ethics curriculum and be able to present their findings within a short time limit.
Despite the amount of work that went into preparing for the CFA Ethics Challenge, the team stressed that it was a highly beneficial experience for them. “The challenge was a fantastic learning experience that instilled in me a great deal of confidence,” says competitor Behnam Hajimomenian. “We were able to greatly develop our teamwork and presentation skills.”
An additional benefit to participating in the CFA Ethics Challenge is that it prepares MFin students for the ethical portion of the CFA Exam, which all MFin students must take at the end of their program. When asked if they would recommend future MFin students participate in the CFA Ethics Challenge, the team’s answer was a resounding ‘yes’.
“It is a challenge that will give you the opportunity for experiential learning as you analyze and present a case,” shares competitor Manuel García Ramírez when asked for details. “You have the opportunity to develop your presentation skills, work as a team, and build your network by meeting experts in the financial industry.”