Articles

The ethics of speaking up

By Jodi O'Callaghan
It can be a tricky space finding yourself wanting to push back against those in a higher position than you, and can take great moral courage to speak up.

The ethics of remediation

12 Sep 19
by Anonymous
You work at an advice business that is just starting a program to repay customers that may have been overcharged for advice services or for poor advice.

Is self-regulation dead?

05 Sep 19
by Wayne Byres, APRA Chairman
8 August 2019

Wayne Byres, Chairman – Crossroads: The 2019 Banking and Finance Oath Conference, Sydney

Good morning. I am very pleased to be part of this event, and to lend my support to the Banking & Finance Oath and to Finsia, both of whom are playing important and timely roles highlighting the importance of trust and professionalism for a successful financial sector.

The ethics of internships

05 Sep 19
by Jodi O'Callaghan
A recent graduate from a reputable university has been offered the opportunity to work with their dream organisation, reporting to you as the manager of the strategy division. Your organisation has a good reputation for giving graduates internships. But there's a catch.

The Invisible Middle

31 Aug 19
by Cris Parker
Exploring middle management at The BFO conference in 2016 was impossible, 2019 was not a lot easier. Whether they're considered the curator or custodian of culture, middle managers are pivotal to putting cultural change into action.

Why then are they often left out of the conversation?

Photo gallery of The BFO | FINSIA Crossroads Conference

20 Aug 19
by Jodi O'Callaghan
During a thought provoking day at the recent BFO | FINSIA Conference, our photographer captured some candid moments amongst speakers and attendees.

The BFO Young Ambassadors wrap up The BFO | FINSIA Crossroads Conference

19 Aug 19
by By Dani Simpson, Rabobank and Alex Green, The University of Sydney | Westpac
As young people forging their careers in financial services, The Banking and Finance Oath’s (The BFO) Young Ambassadors are the future leaders advocating for a stronger ethical foundation in the industry. On Thursday 8 August 2019, four of The BFO’s six young ambassadors attended Crossroads – The BFO | FINSIA Conference looking at how ethics can help navigate the challenges facing individuals in the industry. The following summary provides their key take outs from each session of the day.

By Dani Simpson, Rabobank and Alex Green, The University of Sydney | Westpac

What would you do? Your weekly ethical dilemma challenge

18 Aug 19
by Anonymous
This week's ethical dilemma looks at the challenges middle managers are up against on a regular basis and the tensions they need to manage.

Some in our financial sector stand at a crossroad. The right choice couldn't be clearer.

14 Aug 19
by Karen Walker
If you missed The Banking and Finance Oath's Crossroads conference Karen Walkerhas provided a clear snapshot of many of the conversations with her only regret being that more people weren't in the room to hear it.

What would you do? Your weekly ethical dilemma challenge

25 Jul 19
by Anonymous
‘I will speak out against wrongdoing and support others who do the same’.
We regularly hear from signatories that this can be one of the most confronting tenets of the Oath... but also the most empowering. This week’s dilemma will likely spark debate in your office – which we encourage!

A guiding compass through career progression

23 Jul 19
by Christina Wu
Now a Strategy and Transformation Analyst at Westpac, BFO Young Ambassador Christina Wu recalls her days as a Univeristy of Sydney student and the words from her Dean that 'doing business and doing good' should not be mutually exclusive. It is a statement that continues to guide her decision-making process as she progresses in her career.

The Banking and Finance Royal Commission: Will this time be different?

18 Jul 19
by Leslie Cannold, PhD (Education), Master Bioethics, B.S (Psychology)
By Leslie Cannold, PhD (Education), Master Bioethics, B.S (Psychology)

The imputations of Commissioner Kenneth Hayne’s final report on the Royal Commission into Misconduct in the Banking, Superannuation and Financial Services Industry were blistering. The Banking and Finance industry are led and staffed by the greedy who are more than willing and able to exploit the needy.

What would you do? Your weekly ethical dilemma challenge

18 Jul 19
Victor is an up-and-coming manager at ABC Bank, a large retail bank. Victor reports directly to Robert, the regional manager, who also happens to be a close friend from uni. Robert has been at the bank longer than Victor, but there is some talk within the organisation that his numbers have been falling behind.

What would you do? Your weekly ethical dilemma challenge

09 Jul 19
by Anthony Asher
A company is going through the interview process in order to hire a chief financial officer. In the last interview session, each of three finalists is given the company's financial data and asked by the CEO, ‘What are the net earnings?’

To the young people of banking and finance: please seize the opportunity and break the shackles of conformity

04 Jul 19
by Dr Simon Longstaff
By Dr Simon Longstaff

To my mind, Kenneth Hayne was to the banking and finance industry what a building surveyor is to a rickety house. He ripped off the gleaming cladding to reveal cracked foundations, some rotten beams and a few broken tiles that let in the rain.

Connecting like-minded individuals

27 Jun 19
by Max Zielenski
The Banking and Finance Oath prides itself on being able to connect like-minded individuals who share a common purpose. Our Young Ambassador Program is a great example of one way we do this - connecting young people to each other, and to others in the industry. Max Zielenski is a signatory based in Brisbane who has been supporting our Young Ambassador from the Bank of Queensland, and wanted to share his experience.

What would you do? Your weekly ethical dilemma challenge

18 Jun 19
by Jodi O'Callaghan
The Marketing Manager in a small privately-held wealth advisory firm has her bonus tied directly to annual sales. The higher the sales, the bigger the bonus.

What would you do? Your weekly ethical dilemma challenge

07 Jun 19
by Jodi O'Callaghan
A small boutique insurance company has been hammered by a slowing economy. Sales are off dramatically, cash flow is dwindling and lines of credit are nearly exhausted. The company is bleeding money. The founder and CEO is trying to ride out the storm, but the situation has deteriorated enough that he must do something to stop the financial haemorrhaging.

What would you do? Your weekly ethical dilemma challenge

25 May 19
by Jodi O'Callaghan
This week's ethical dilemma challenge is a little different. We want to take you beyond just the week, and introduce you to the new education portal on our website.

What would you do? Your weekly ethical dilemma challenge

16 May 19
by John Jeffery
You are trading on behalf of a client in fairly large nominals of US bonds. The counterparties in these trades are often people just like you. There’s a commission associated with a client’s trade and there’s also the opportunity, when it arises, to make some extra money from imperfections in the market.

What would you do? Your weekly ethical dilemma challenge

02 May 19
by John Neil
A manager oversees a team of front facing customer service staff. She has been working hard to improve the level of respect shown by staff to customers.

Governance Institute of Australia Interview with Dr John Laker AO rebuilding trust

30 Apr 19
by Dr John Laker AO
The fundamental challenge in rebuilding the public’s trust in the financial services industry is putting the best interests of customers at the centre of organisational culture, decisionmaking and remuneration arrangements.

What would you do? Your weekly ethical dilemma challenge

19 Apr 19
by John Jeffery
Working in the fast-paced and dynamic world of international equities, many deals are traded on a daily basis. Its important office teams ensure that the settlement process runs smoothly; if a trade fails to settle, the consequences can be loss of reputation and more...

What would you do? Your weekly ethical dilemma challenge

13 Apr 19
by Jodi O'Callaghan
Your company has moved some of its agri-business activity off-shore (Country X). The principal attraction is a low-wage environment and a relaxed regulatory regime. Profits have increased since the decision was made...

What would you do? Your weekly ethical dilemma challenge

06 Apr 19
by Jodi O'Callaghan
In recent months you have been working very long hours and spending a considerable amount of time away from your family.

What would you do? Your weekly ethical dilemma challenge

28 Mar 19
by Jodi O'Callaghan
You are a qualified accountant. You have been asked, by your line manager, to complete a costing exercise with a very short deadline and limited resources.

What would you do? Your weekly ethical dilemma challenge

21 Mar 19
by Jodi O'Callaghan
It's time to exercise your ethics muscle in our weekly challenge!

You have been part of a team working on a large and complex project. You have heard that a fairly major error has shown up as part of the financials for the project.

"I am a trusted advisor"

19 Mar 19
by Cris Parker
Trust is the talk of the town at the moment. Rebuilding, regaining, retaining. But as much as you think you deserve to be considered trustworthy, it is not something that can be self-nominated. Cris Parker, a Director with The BFO, explains why.

Positive challenges for the outsourcing and advisory industry in a post Royal Commission era

14 Mar 19
by Boris Bieler
Boris Bieler CFA, FCPA (Australia) is a signatory to The Banking and Finance Oath and raises awareness of the Oath in his role as guest lecturer at Macquarie University and UTS when lecturing on topics around auditing, risk management, corporate governance and ethics in banking. We invited Boris to provide his insights on what he thinks some of the positive challenges might be for the outsourcing and advisory industry, post Royal Commission.

What comes after the question of 'Should We'?

14 Mar 19
by Pauline Vamos
Pauline Vamos, a director with The Banking and Finance Oath and the new Chairman of Freedom Insurance gives her take on how the financial services industry can recover and move forward following the Hayne Royal Commission.
Total 111 articles in this section.
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The Oath

  • Trust is the foundation of my profession.
  • I will serve all interests in good faith.
  • I will compete with honour.
  • I will pursue my ends with ethical restraint.
  • I will help create a sustainable future.
  • I will help create a more just society.
  • I will speak out against wrongdoing and support others who do the same.
  • I will accept responsibility for my actions.

In these and all other matters;
My word is my bond.

The Vision

A banking and finance industry that meets the community’s needs and has its full confidence thereby fulfilling its integral role in society.