The Course Connect partnership between LexisNexis Risk Solutions and the University of the West of England (UWE) is an academia-industry collaboration that aims to bring together cutting-edge academic knowledge with leading commercial practice, for the mutual benefit of students, academics, researchers and practitioners. We caught up with Professor Nic Ryder to find out more.
What’s the aim of this partnership?
It’s a platform, in essence, for information and knowledge sharing. A formal partnership like this one makes it a great deal easier to share thinking and analysis of financial crime and compliance, financial risk management and anti-money laundering regulation, between organisations, for the benefit of both sides.
How does each side benefit?
Working with industry partners allows us access to valuable resources we’d otherwise not have. From real life case studies that can be implemented into the curriculum, to offering students the opportunity to work with the latest commercial information, trends and practices, as if they were already operating in the industry. This is not only highly motivating for them, but puts them in the driving seat following graduation. With support from commercial partners, we can set students in-depth challenges that often develop into dissertation projects, student internships and placements where they gain first-hand work experience.
In return, LNRS gains access to fresh insights and a rich seam of graduate talent they can offer placements and evaluate their potential for full-time employment opportunities, in many cases making an offer after the placement ends. LNRS also benefits from first-hand access to academic expertise and cutting-edge research outputs which can develop into webinars and round table style events that marry the academia and commercial worlds and provide a platform for healthy and insightful debate of current trends and topics surrounding the financial crime and compliance industry. Students’ input into these debates is a great way to identify the opinions of the future experts in these fields.
How important is industry collaboration in preparing graduates for the practical experiences they will face in industry?
UWE prides itself on providing students with the opportunity to study commercially-relevant subject areas where career paths are quite clear. We work closely with the commercial sector on embedded placements (sandwich years), consultation projects where students are set real-life industry challenges to solve, guest lectures from industry experts, and others – all opportunities for students to better understand how the theory they learn in class translates into the real world.
What does success look like for this partnership?
Success is long-term partnership resulting in a plethora of opportunities for both UWE Bristol and LNRS to work together. That can range from straightforward guest lectures, to student projects, competitions and dissertation projects, all the way through to internship opportunities that ultimately lead to graduate employment. As academics, we’re ultimately focussed on preparing these young people for their careers.
How many other Course Connect partnerships do you run?
We have 20 partnerships at present with a mix of public and private sector organisations ranging from large nationals like Lloyds Banking Group and Enterprise Rent-A-Car, to local and regional SMEs.
What do your other partners think of this process?
“We want young people to get a great start to their working life – sharing our experiences, knowledge and skills is a great way to make that happen. This approach supports our own organisational drive to ‘Help Britain Prosper.’” Lloyds Banking Group
“We are genuinely excited about the opportunity to share knowledge and learn from each other.” Nationwide
“This initiative… promises institution-wide recognition of our brand, as well as offering an opportunity to address known skills gaps in our industry.” Enterprise Rent-A Car
What does the future hold?
It’s important to see this as an evolving partnership. This first year is very much a ‘toe in the water’ for both sides, allowing us to understand what activities we are comfortable collaborating on and what won’t work for us. As time progresses, we very much hope that the relationship will develop to offer a much greater variety of activities and benefits for both sides.
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