International prize seeks big ideas for the future of ethics and trust in finance
SWIFT and the SWIFT Institute are proud to partner with the 8th biennial Ethics & Trust in Finance for a Sustainable Future prize, which launched on 2 June 2020 at the Observatoire de la Finance in Geneva.
The competition invites anyone under the age of 35 who is currently working in or studying finance to submit previously unpublished essays that explore the future of ethics and integrity in the financial industry. Candidates can submit analytical papers or proposals for practical projects with real-world applications. In all cases, the essays need to meet three criteria: intellectual rigour, innovative ideas, and clear conclusions. Winners will receive a share of the $20,000 prize fund and be honoured at a dedicated awards ceremony.
The competition is judged by a global jury of financial experts selected from across the prize’s organisers and supporters.
Meeting the financial needs of future generations
The 2020-21 prize has a particular focus on the role of ethics and integrity in a post-pandemic world. Organisers encourage candidates to consider how ethics should help shape a more sustainable, resilient and trustworthy financial system for the future. This has been made all the more urgent by the various financial crises in recent decades, the universal challenge of climate change and the recent pandemic, which is already placing financial and social systems under considerable strain.
Ideas that power systemic change
Established in 2006 to commemorate the life of Robin Cosgrove, an investment banker who passed away at a young age, the prize promotes greater awareness among young people on the benefits of ethics in finance, encouraging high-quality banking and financial services based on trust and integrity.
Since its inception, nearly 1,000 individuals from over 80 countries have expressed interest in submitting a paper for the prize, and over 300 final submissions have been considered by the global jury. Over the years the competition has prompted debate about many different aspects of ethics in finance, ranging from the role of compliance offices, the challenges of managing cash ethically and the contribution of micro-financing, to economic development, and the importance of fair rating systems.
Do you have a winning idea, or know of a young professional who does? If so, be a part of the debate and find information on how to submit an essay at ethicsinfinance.org.
The deadline for submitting papers is 31 May 2021. Download this outline here.
The Ethics & Trust in Finance for a Sustainable Future prize is based at the Observatoire de la Finance, a not-for-profit organization based in Geneva. It is supported by CFA, ACCA, SWIFT, SWIFT Institute, OECD, PICTET and Euroclear.