Investor Presentaiton
ROYAL COMMISSION
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LEARNINGS FROM ANZ'S SUBMISSIONS
Specific to the misconduct and failures to meet community standards and expectations (CSEs) that we submitted to the Royal Commission
Will be mapped against work and assigned success measures to assess when they have been addressed
Significant alignment with work on APRA self-assessment focus areas (see next page)
Royal Commission learnings
1. We had, at times, poor product governance, including bad product design and misaligned and/or unclear T&Cs
2. The scale and scope of our activities made identifying and fixing failures difficult
3. We did not focus on remuneration's role in poor conduct
4. There was an absence of a customer mindset, meaning we were, at times, insensitive to customer circumstances
5. There was, at times, a lack of management supervision, clear accountability for tasks and responsibility for failures
6. We did not remediate customers in a competent, timely and/or consistent manner
7. Our operational risk controls did not prevent or identify staff errors, process failures or coding mistakes
8. Certain failures arose from non-compliance with the law or other standard, including as interpreted by ASIC
ANZ
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