Following news of yet another financial adviser being banned, a bank has announced that anybody applying for a permanent role will now be subjected to extensive background checks.
finews.asia reported last week on the five year ban handed down to former Westpac adviser Sudhir Kumar Sinha. In the wake of that announcement by the financial regulator, the bank moved quickly to announce a new conduct background check protocol in its hiring processes.
Designed to identify any past instances of misconduct by potential employees, the institution will include conduct background checks as part of the application process to help promote a better banking culture. The move forms part of the Australian Bankers' Association's Six Point Plan.
Rooting Out Misconduct
Westpac Group executive, human resources, corporate affairs and sustainability, Christine Parker, described the new initiative as a significant additional measure to ensure Westpac is delivering on its service promise to customers.
The enhanced process will involve a series of fact-based questions about employment history and conduct, including whether the applicant has been dismissed previously or resigned in circumstances relating to misconduct such as selling customer data, compromising customer security or willfully and repeatedly breaching bank policies.
«The conduct background check protocol is designed to work with our existing hiring practices to allow us to find out more about potential employees' work histories such as whether the individual was dismissed in a previous role due to instances of serious misconduct,» Parker said.
