Press

Bank boards responsible for culture repair: John Laker

Tuesday 20 November 2018
By James Eyers: Boards have ultimate responsibility for repairing the erosion of trust in banks and must drive senior management away from a myopic focus on short-term profits, said former regulator John Laker.

Bank trust slump helps fintechs lure Millennials: Afterpay co-founder

Monday 29 October 2018
By James Eyers: Low levels of public trust in major banks is being used as ammunition by fintech competitors to lure away their Millennial customers, says Afterpay's executive director Anthony Eisen, in an indication the Hayne royal commission could embolden the fintech sector to further improve services and reduce fees.

Greater regulation not always the answer

Friday 28 September 2018
By Mark Eggleton: With the banking royal commission's interim report due out today, it's inter­esting to note that more regulation is not the only answer when it comes to rectifying the financial sector's mal­feasance.

APRA names trio for CBA inquiry

Monday 11 September 2017
The chairman of an organisation charged with upholding ethical standards in the finance industry will head a regulatory inquiry into the Commonwealth Bank’s culture and governance.

Code of bank conduct 'window dressing' without enforcement:ASIC

Thursday 8 June 2017
The inaugural BFO Conference provided an environment that allowed ASIC, APRA and the banks to talk openly about areas within financial services that need stronger ethical consideration. James Eyers reports on the day.

New laws could punish 'honest if mistaken judgments': Harrison Young

Thursday 8 June 2017
Clancy Yeates attended The BFO conference and reports on the open discussion had about the regulator's power to ban senior bankers and much more.

A Question of Trust - Post-Truth Paradigms and the Challenge to Financial Regulation

Thursday 25 May 2017
Trust in institutions is falling at an alarming rate, the cause and consequence of democratic rejection of strategies to deal with the Global Financial Crisis. Irrespective of whether rule or principles based forms of regulation were privileged, each failed to address the erosion of core normative anchors. Blindsided by the factors that led to the GFC, the policy response, based largely on technical solutions, has done little to restore trust.

Thinking creatively, flexibly and collaboratively: Q & A Tony Golsby Smith

Tony Golsby-Smith presented a keynote at the BFO conference 8 June. He was interviewed about his ideas of how we can adapt to work in the future.

60 seconds with Cris Parker

Wednesday 10 May 2017
InFinance interviews Cris Parker, The BFO Executive Officer about what drives her to do the role.

Banking and the limits of Professionalism

Friday 5 May 2017
Much criticism of banking over the last decade has included the recommendation that it become "more professional". What does that mean in the context of an industry already heavily government regulated? Professor Dimity Kingsford-Smith, Professor Thomas Clarke and Justine Rogers have conducted extensive research and produced 'Banking and the limits of Professionalism'

Banking on Trust

Sunday 2 April 2017
There's no doubt that the public are calling for change when it comes to the financial-services industry, and that everyone wants to see a more ethical approach, which is why David Gonski, the ANZ chairman, is happy to sign the Banking and Finance Oath. According to Gonski, the relationship between the financial services and ethics continues to evolve. He tells Ben & Co. that the Banking & Finance Oath is central to the local banking and finance sector.

Corporate Culture:Evidence from the field

This body of research draws on interviews and unique survey tools used to look at the evidence of culture in over 1,300 North American organisation. Overwhelmingly executives linked culture to ethical choices.

Corporate Culture:Evidence from the field.

Thursday 1 December 2016
This body of research draws on interviews and unique survey tools used to look at the evidence of culture in over 1,300 North American organisation. Overwhelmingly executives linked culture to ethical choices.

ASIC's Greg Medcraft doubles down on bank culture war

Tuesday 22 November 2016
Patrick Durkin reviews The Banking and Finance Oath/Melbourne University in Melbourne.

New RBA chief Philip Lowe: I agree, banks have a big trust gap

Dr Philip Lowe called on bank leaders to follow him in signing the “The Banking and Finance Oath”, a code of conduct developed by the banking industry that declares trust is at the heart of the profession.

Killing Conscience: The Unintended Behavioral Consequences of 'Pay For Performance'

Tuesday 23 August 2016
It is often argued that incentive programs providing large material rewards are the best and possibly the only way to motivate corporate executives and other employees to serve their firms' interest. Science dis agrees.

Momentum grows for Banking and Finance Oath as ANZ's Shayne Elliott and David Ginski sign

Tuesday 16 August 2016
Momentum to sign the Banking and Finance Oath is growing among top banking executives with ANZ Banking Group's chief executive Shayne Elliott and chairman David Gonski the latest to sign up to the initiative to lift ethical standards in the industry

Culture Matters

Sunday 26 June 2016
"Culture, more than rule books, determines how an organisation behaves" - Warren Buffett. Erica Salmon Byrne, Executive VP Governance and Compliance at The Ethisphere Institute, recognises that there are many organisations with formal systems that say one thing and cultures that promote another. This article looks at the advantages of measuring culture and suggests ways to do it.

Integrity, without it nothing works

Reflecting on the 2008-09 finance crisis, Professor Michael Jensen says that putting the economic system back in order is deceptively simple: "people have to start honoring their word. If they do, trust will materialize almost instantly."

Corporate Culture

Sunday 19 June 2016
Leaders who build trust and help their companies recover are often the ones who authentically look at their company and their company's actions. It is during this recovery that the culture creates the obligations needed for a good company to become great. When this happens, it's not compliance that saved the day, but rather, culture and ethics, a much more powerful force.
Total 92 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.