First place at the CFA Institute Research Challenge Ontario Finals!

On February 18th, three students representing the University of Waterloo’s School of Accounting and Finance (SAF) competed at the 2021 CFA Institute Research Challenge (IRC) Ontario Finals. Led by Faculty Advisor, Steve Balaban, student team members Brendan, Anna, Noah - all upper-year Accounting and Financial Management (AFM) students - competed against teams from Brock University, Carleton University, and York University and won first place!

Photo of Brendan, Anna and Noah

The competing university teams were asked to conduct research on an assigned publicly traded company, write a report and present their findings. The CFA IRC is a 6-month long competition. Competition teams are evaluated on their analytical, valuation, report writing, and presentation skills. For this competition, the team provided a compelling and well-researched presentation on the analysis and recommendations for a food retail company called Empire Company Limited in front of a panel of four judges.

The group demonstrated excellent teamwork throughout their presentation, and during the Q&A session, which was acknowledged by the judges in the feedback they received. “We each had complementary skill sets and pushed one another to keep moving forward, which ultimately led to a final product that was so often discussed internally that we were ready for any questions the judges might’ve had,” stated Brendan, the team captain, about the importance of teamwork during this competition.

While waiting for the results of the competition, presenters and attendees participated in a virtual trivia game hosted by CFA Toronto Society, while the judges made their decisions. The evening concluded with an Awards Ceremony where judges provided all teams with feedback and announced the winner. Congratulations to the University of Waterloo team for winning first place in this competition!

Brendan thanks the support received throughout their journey as a group, “even if we were just three students, there were countless individuals cheering us on behind the scenes. We’re so grateful for the support we received from [University of Waterloo] alumni and faculty.”

Brendan, Anna, and Noah will now be advancing to the sub-regional level which will take place in late March 2021. All four teams did a fantastic job presenting their research and analysis on Empire Company Limited and came well prepared for the questions from the judges. Congratulations to Brendan, Anna, and Noah on their hard work and success and we wish them luck in future competitions!

To learn more about the annual CFA Institute Research Challenge, visit the CFA website. To read more about the success of the SAF CFA IRC team.

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