MFAc program fosters practical business solutions in collaboration with RBC
York University’s Master of Financial Accountability (MFAc) graduate students showcased creative business solutions and proposed a variety of best practices in a collaborative case study opportunity provided by one of the largest banks in Canada, the Royal Bank of Canada.
Amit Brahme, senior director, Newcomer & Cultural Client Segment, along with Lara Beauvais, senior manager, Performance Optimization & Early Talent Strategy, RBC, put together an opportunity for the MFAc students to partner with the bank and work on a live case.
Beauvais, in her role of senior manager, brought a series of remote working challenges often faced by banking operations teams. The question presented to the students was: "How can incentives increase team engagement and productivity?"
Students were required to come up with a creative response to the clients' needs, all while applying proven professional tools. Working in teams within time constraints, students tackled the difficult task of drawing up mechanisms that can set standards for better accountability and incentives.
Students enrolled in the course “Performance Measurement Systems” were given an opportunity to apply theory to practice. The course is led by Professors Amy Kwan and Marcela Porporato.
“Live cases are a form of experiential learning that help students deal with a client while still supported by classmates and professors,” said Porporato. “Interacting with corporate clients is not always easy; it is very valuable that students are put in the spotlight and realize they need to pay attention not only to the technical content of the message delivered, but also on how to deliver it,” Kwan added.
RBC’s partnership with the University brings together hands-on learning opportunities, helping students to understand and implement what they are learning in the classroom. At the end of the event, RBC managers agreed that the students’ work was worth exploring further.
The University intends to continue building on this relationship with RBC. Initiatives like this help polish communication and problem-solving skills which are critical in business environments. They also assist student mentors in reviewing the competencies and application of talents required in possible careers.