Work & career (95 items)

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Toevs and Young on long risk list at CBA

Pay cuts for the top tier are unavoidable, and already in the works, at Commonwealth Bank. For now, firings and resignations are off the agenda as the board of the bank works its way through its latest and most severe reputation crisis: Austrac's barely queried allegations of catering to money laundering via nifty ATMs. read more

FSU hustles for ban on credit insurance incentives

The Finance Sector Union has called on the Australian Securities and Investments Commission to impose a blanket ban on volume-based reward payments to bank staff for selling credit insurance policies to customers.Banks are moving to reform incentive pay models to reduce conflicts of interest between staff and customers.Maybe the easiest cross-sell of all, reform around consumer credit insurance is on a go slow.Banks and ASIC have worked out a deferred-sales model and new protocols, as if the Sedgwick Review was fading from sight. read more

And it's away with Elliott's ANZ

The ANZ brand is getting a makeover, soon, with both a values and a credibility spin embedded somehow.?ANZ's strategy will be refined to be "simpler" and business as usual reset in line with the Agile fashion: "less hierarchical … built around small collaborative teams," as CEO, Shayne Elliott purred in an eight-page letter to staff.Okey dokey. read more

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