Reserve Bank of Australia First Nations Scholarship

The RBA Scholarship is open to competition among candidates who:

• Are Australian Aboriginal and/or Torres Strait Islanders.
• Are enrolled in a Bachelor of Business or Bachelor of Commerce.

Preference will be given to students:

• With majors in Banking, Finance or Economics.
• Interest in participating in placement/internship program with the RBA, in Sydney.
• Willing to submit an annual student impact report.

If you are a successful applicant of this scholarship studying full time you will receive $5,000. If you are a successful applicant of this scholarship studying part time you will receive $2,500.

The scholarship shall be paid in 3 equal instalments (rounded to the nearest dollar) after trimester census dates.  Please allow up to 4 weeks after census date for payment.

In additional to the scholarship payment, you will also receive an offer to go to Sydney for a Meet & Greet with the RBA and shadowing week in November and a further offer for a capstone placement.

Applications must be submitted on the official online application form and be received no later than the advertised close date.
Applicants must submit with the official form, where appropriate:

• A copy of your JCU academic record
• Proof or statement relating to Aboriginal or Torres Strait Islander status. RBA Scholarship recipients must hold proof of heritage to confirm they are Australian Aboriginal and/or Torres Strait Island.
• A written statement of no more than 500 words outlining:
  • Your cultural heritage
  • Why you picked the degree you are studying and major?
  • Future and career aspirations
  • Interest in participating in placement/internship at the RBA in Sydney.

Applications submitted without the relevant documentation will not be considered.

The applicant authorises the Selection Committee to make such enquires as to the applicant's good character and suitability to receive the scholarship, which includes authorization for the Selection Committee to examine the applicant's academic record and seek opinions from relevant members of the academic staff of this University or any other academic institution.

Your application is checked for completeness and eligibility, and you will receive an email confirmation it has been received. After the closing date it will be individually assessed and put forward to a selection committee who will rank your application against others who have applied.

Introduction

The Reserve Bank of Australia (RBA) is an independent Commonwealth-controlled entity that works for the betterment of all Australians. As Australia’s central bank, the RBA conducts monetary policy, maintains strong financial systems and issues the nations’ currency. The RBA provides banking and payment services to around 90 Australian Government agencies and the corporate banking section.

The RBA designs and produces banknotes for Australia and 35 other countries, through our subsidiary Note Printing Australia, as well as passports, birth, death and marriage certificates.

The RBA First Nations scholarship aims to support and grow the number of First Nations students studying degrees and subjects aligned to the Bank's work. As the nation’s central bank, the RBA works to include representation from our diverse communities within our workforce.

This scholarship is subject to the provisions of James Cook University’s Coursework Scholarships, Bursaries and Grants Policy.

Value and payment of the scholarship

If you are a successful applicant of this scholarship studying full time you will receive $5,000. If you are a successful applicant of this scholarship studying part time you will receive $2,500.

The scholarship shall be paid in 3 equal instalments (rounded to the nearest dollar) after trimester census dates.  Please allow up to 4 weeks after census date for payment.

In additional to the scholarship payment, you will also receive an offer to go to Sydney for a Meet & Greet with the RBA and shadowing week in November and a further offer for a capstone placement.

Eligibility Criteria

The RBA Scholarship is open to competition among candidates who:

• Are Australian Aboriginal and/or Torres Strait Islanders.
• Are enrolled in a Bachelor of Business or Bachelor of Commerce.

Preference will be given to students:

• With majors in Banking, Finance or Economics.
• Interest in participating in placement/internship program with the RBA, in Sydney.
• Willing to submit an annual student impact report.

Selection Criteria

Where there is a pool of applicants, the selection committee is requested to use the following selection criteria to rank and award the most suitable applicant:

• Academic merit (50%):
  • Rank students in order highest academic achievement (GPA).
• Written statement (50%):
  • Degree and future aspiration match the RBA’s career opportunities and goals.
  • Interest in participating in RBA associated scholarship activities.

Application Procedures

Applications must be submitted on the official online application form and be received no later than the advertised close date.
Applicants must submit with the official form, where appropriate:

• A copy of your JCU academic record
• Proof or statement relating to Aboriginal or Torres Strait Islander status. RBA Scholarship recipients must hold proof of heritage to confirm they are Australian Aboriginal and/or Torres Strait Island.
• A written statement of no more than 500 words outlining:
  • Your cultural heritage
  • Why you picked the degree you are studying and major?
  • Future and career aspirations
  • Interest in participating in placement/internship at the RBA in Sydney.

Applications submitted without the relevant documentation will not be considered.

The applicant authorises the Selection Committee to make such enquires as to the applicant's good character and suitability to receive the scholarship, which includes authorization for the Selection Committee to examine the applicant's academic record and seek opinions from relevant members of the academic staff of this University or any other academic institution.

Selection Process

The award of the scholarship shall be made in the absolute discretion of the Selection Committee, which shall comprise:

• Representative from People Department RESERVE BANK OF AUSTRALIA (Chair),
• Representative from IERC, and
• Representative from JCU Advancement Team.

The Selection Committee reserves the right:

Not to award a Scholarship in any year if, in the opinion of the Selection Committee, there is no candidate of sufficient merit to warrant an award.

The Selection Committee may require applicants to undertake an interview as part of their application.

The Selection Committee will determine all matters relating to the selection of the Scholarship awardee.

On-going Eligibility Criteria

• Student must maintain good academic standing.
• Student must remain enrolled in Bachelor of Commerce or Business.
• Any changes to the recipient's enrolment will need approval from RBA to continue to receive scholarship or hold scholarship funds.

Conditions of the Scholarship

• Students are required to complete a student impact report at the end of the calendar year.
• A student may lodge a request for review of decision in accordance with the provisions of the Student Complaints Policy and Procedures.

Administration of the Scholarship

The scholarship shall be administered by the scholarships office, on behalf of the Selection Committee.

The funds of the scholarship shall be held in an account in the name of the University and shall be administered by Scholarships Office.

Where an award provides some benefit to the recipient from a body external to the University, or an obligation upon a body external to the University, the University, its servants and agents, shall not be liable for that benefit or obligation

Please refer to Glossary of Terms.