The infamous video résumé in which Aleksey Vayner shatters bricks with his bare knuckles and boldly refers to himself as a symbol of success made the Yale University student the laughingstock of Wall Street and became an example for young bankers of how not to apply for a job.

But despite the negative attention Mr. Vayner attracted, a large career services network focusing on the financial industry is now challenging aspiring bankers to compete for the crown of Wall Street’s best video résumé.

“We’re reclaiming the video résumé for the forces of good,” a cofounder of Vault.com, Mark Oldman, said. “Clips of bench-pressing and pontificating about life philosophies won’t be rewarded.”

Mr. Vayner is keeping a low profile on campus, a senior at Yale, Taylor Craig, said, although he recently promoted an organization that advocates against the exploitation of children, the Red Light Children Campaign.

After local press outlets reported the existence of Mr. Vayner’s video résumé in October, his Wall Street ambitions became national news. Upset that the video could have been leaked by a financial services company, Mr. Vayner is in discussions about possible damages, his attorney, Christian Steuben, said.

Mr. Vayner’s video may not be a blueprint for the future of Wall Street recruiting, but according to Mr. Oldman, a succinct and professional video résumé can be a great tool for job seekers who might otherwise float underneath the corporate radar.

“There could be a budding superstar in Peoria who doesn’t have the money or the access to get noticed by the big banks,” Mr. Oldman said. “It allows them to make their case in a more direct and effective way.”

While banks recruit talent from colleges across the country, most applicants must get the attention of corporate human resources via e-mail or snail mail. A managing director and global head of campus recruiting for Citigroup, Caitlin McLaughlin, said a well put-together package, including a video résumé, could distinguish an applicant.

For Citigroup, a corporation with branches all over the world, a video résumé also can be a helpful tool for international staffing, Ms. McLaughlin said. Executives in other parts of the world can get a feel for an applicant’s communication skills.

“This is the precipice for something we’ll see much more of in the future,” Ms. McLaughlin said.

Although video résumés may be getting more attention, the director of the Wasserman Center for Career Development at New York University, Paula Lee, said recruiters generally prefer hard or electronic copies.

“We mention video résumés in our seminars,” Ms. Lee said. “But I really can’t say that employers are asking for them.”

Vault.com’s résumé contest is for college students hoping to land a summer analyst position at an investment bank. Five winners will have their résumés posted on the site, where it can be viewed by the company’s network of hiring managers.

The résumés of the winners will also be delivered directly to human resource departments at investment banks throughout the city.

“The idea is that if an applicant can impresses Vault.com,” Mr. Oldman said, “they will be able to impress the top banks.”

The company is accepting 60- to 90-second clips in which applicants should portray their “greatest hits.”

Mr. Oldman said that unlike Mr. Vayner’s video, simplicity will be a key factor in determining the winner.