The Minister for Financial Services & Regulation, Joe Hockey, today unveiled details of scholarships which form part of the Government's strategy to develop Australia as a centre for global financial services.
The Sir Otto Niemeyer Scholarships will provide up to 10 promising students with an interest in finance and the markets with practical work experience in a selection of relevant policy and regulatory agencies.
The agencies include the Treasury, Reserve Bank of Australia, Australian Bureau of Statistics, Australian Prudential Regulation Authority, Australian Competition and Consumer Commission and the Australian Securities and Investments Commission.
"Developing a world-class financial centre depends on building and developing our human capital," the Minister said.
"Our workforce is one of Australia's greatest advantages. The Sir Otto Niemeyer Scholarships aim to build the human capital of tomorrow.
"Australia's best and brightest students should apply including those who yearn to be the traders, economists, marketers and researchers of tomorrow's global markets.
"This is the first time an ongoing opportunity exists for Australia's most talent students to experience working in the world's most progressive regulatory agencies."
Advertisments have been placed in national and university newspapers to promote the scholarships.
The scholarships are open to current third-year undergraduate students seeking to do an honours year in 2000 in economics, commerce, finance, arts (economics), public policy, actuarial studies, computer sciences and mathematics or combined law students undertaking their fourth year of study in 2000, and who have a strong interest in the finance sector.
Applicants must be Australian citizens or permanent residents.