My experience entering the Cambridge-McKinsey Risk Prize Competition

Cambridge is full of opportunities for development at every level of the University – whether through your course, such as the Master of Finance, or through the broader ecosystem of University-wide competitions and activities. This is a glimpse into my journey and interaction with one of the University’s competitions.

Why I decided to enter

When I first read about the prestigious Cambridge-McKinsey Risk Prize, I was in awe of the calibre of past finalists. They came from across the University and represented a wide range of disciplines, from engineering to public health.

There was a common theme throughout my experience at Cambridge – a sense of being overwhelmed by the sheer breadth of opportunities on offer. They come from the 4 layers within what I call the Cambridge student eco-system which consists of:

• the Master’s programme
• Cambridge Judge Business School
• the College system
• the broader University of Cambridge

I was drawn to the Risk Prize as a unique opportunity to challenge myself alongside some of Cambridge’s brightest minds… and me.

What is involved

The competition challenges students to write on a topic of their choice, which, in my view, naturally elevates the quality of submissions. Personally, I was incredibly motivated by the chance to explore a topic that combined my professional background as an investment banker, the insights gained during my course and the support of an outstanding academic and peer network. I believe this is why the University of Cambridge remains at the pinnacle of university education, it combines current economic, political, or social affairs, with world-class research and teaching staff, which provide a platform for students to forge new research and answer questions of paramount importance.

My paper and the inspiration for it

My paper focused on the systemic risks of private credit, specifically examining unfunded synthetic risk transfers (SRTs) in banks’ risk management frameworks. As I read it back, it doesn’t sound like the most exciting topic. The inspiration came from 2 sources. Firstly, the increasing media attention on private credit and its implications and secondly, key courses from my masters, particularly Simon Taylor’s Financial Institutions and Markets course and Marwa Hammam’s Credit course.

The benefits of entering the competition

What stood out to me most was the level of support from faculty and alumni, who encouraged us to engage with research at the forefront of industry concerns. This encouragement spurred my interest in other topics too, such as the UK pension system, which I was able to explore further through David Pitt-Watson’s Purpose of Finance course – a must-see, award-winning course.

Final reflection

This environment of intellectual challenge, support and real-world relevance highlighted what I now see as one of Cambridge’s key structural advantages: it prepares you not just to secure a job, but to build a long-term career.

About the blog author

Dan is a 2024 Master of Finance student. He is currently based in Beijing, working at the Asian Infrastructure Investment Bank (AIIB) as part of their Young Talent Program within the Financial Institutions and Funds practice. Prior to this, he was an Investment Banking Associate at Citibank in Australia, where he worked on large-scale Mergers and Acquisitions transactions across sectors including infrastructure and natural resources. His experience spanned domestic Australian deals, as well as regional transactions across Asia-Pacific and international deals in Europe. The global nature of Citi inspired Dan to apply to Cambridge, where he saw an opportunity to launch the next chapter of his global career.