Australian CIO Summit 2012: Implementing change in The Westpac Group by Jim Burke
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Australian CIO Summit 2012: Implementing change in The Westpac Group by Jim Burke



Australian CIO Summit 2012: Implementing change in The Westpac Group by Jim Burke, Chief Information Officer, Westpac Institutional Bank

Australian CIO Summit 2012: Implementing change in The Westpac Group by Jim Burke, Chief Information Officer, Westpac Institutional Bank



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Australian CIO Summit 2012: Implementing change in The Westpac Group by Jim Burke Australian CIO Summit 2012: Implementing change in The Westpac Group by Jim Burke Presentation Transcript

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  • Australian CIO Summit 2012Implementing change in The Westpac GroupJim BurkeChief Information OfficerWestpac Institutional Bank23 - 25 July 2012© 2012. Westpac Banking Corporation. ABN 33 007 457 141 Al rights reserved. Information in this document is confidential. No part of this document may be reproduced or transmitted in any form or by any means,electronic, mechanical or otherwise, for any purpose, without the express written permission of the Author.
  • An overview of The Westpac Group • Westpac Banking Corporation was founded in 1817 and was the first bank established in Australia (Bank of NSW). • In 1982, we merged with the Commercial Bank of Australia & became Westpac Banking Corporation. In 2008, Westpac merged with St. George Bank Limited. Our Operating Model & Brands • The Westpac Group has branches and controlled entities throughout Australia, New Zealand and the Pacific and maintains offices in key financial centres around the world including the UK, USA, Hong Kong, China, Singapore, Indonesia and India. • We provide a broad range of financial services in these markets, including retail, business, institutional banking and wealth management services. • As at 30 September 2011, The Westpac Group employed approximately 38,000 people globally, had total assets of $670.2 billion, a market capitalisation of $61.6 billion and our NPAT was $6.9 billion. • About 572,000 people and institutions in Australia and overseas are Westpac shareholders. • The Westpac Group has 3 key customer facing divisions through which we serve our 12.2 million customers: 1. Australian Financial Services (AFS); 2. Westpac Institutional Bank (WIB) and ; 3. Westpac New Zealand. Page 3
  • Our Strategic Intent & Investment Program Strategic Intent Strategic Investment Priorities (SIPs) • Two years ago, Westpac embarked on a journey to transform the organisation through an ambitious portfolio of investments that would ultimately touch every part of the organisation, significantly improve the way we interact with our customers and position the Group for strong future growth. • Today, our $2bn Strategic Investment Priorities (SIPs) are delivering benefits that are having a real impact. Payments Transformation Group Customer Master Online Transformation Enterprise Services Bus Wealth Transformation Enterprise Perimeter Security Banksmart Testing Transformation Deposit Growth Data Centres Transformation Secured Lending Integrated Migration Transformation Cards & Collections Information Management Page 4
  • Payments SIP - the ecosystem that underpins the Bank• The Payments platform and systems support the payments products that all customer segments use (such as BPAY, Payroll & Direct Entry) as well as the clearing and settlement activities for the Bank. This includes both domestic & international, wholesale & retail, real time and overnight batch processes.• On average, Westpac clears and settles around 26 million transactions per day with a value of approximately $150 billion.• In 2007, the Payments Transformation Program was initiated to address four key areas of concern that are putting our business at risk:- 1. Current customer experience leaves significant room for improvement; 2. Lack of system reliability with frequent outages or process breakdowns impacting both customers and our market position including relationships with other banks and regulators; 3. High cost and complex processes and infrastructure result in errors and re-work that are often difficult to recover and result in a poor customer experience; and 4. Lack of flexibility to respond to existing and future market and regulatory changes – including innovation. International & Wholesale Payments Domestic Payments POS/ATM Single Exchange Settlement • The Payments B e e a s y to u s e • C rea te a s ea m le ss a n d i n t eg ra te d cu sto m e r e x p er ien ce a c ro s s co re B e e a sy t o u s e s o lu t io n s Transformation Program is a priority battlefield that will help the E n h a n ce En ha nc e • E n h a n c e a n d re- en g in ee r a d d i ti o n a l p a ym e n t e n d - to -e n d p ro ce ss es an d Westpac Group achieve s e r v ic e & s e r v i ce & c u st o m e r se rvi ce ca p a b ilit ie s our vision. r e d u c e co st r e d u ce c o s t • Five critical capabilities will be delivered to help • L e v er a g e cu s to m er in fo r m a ti on t o p r o v id e in fo r m a ti on -b a se d va lu e a d d e d us achieve the desired A d d v a llue A dd va u e s o lu t io n s an d s u p p or t t h e c u s to m er’s va l u e c h a in customer experience & meet our regulatory requirements:- B e 10 0% Be 1 00 % • I m p ro ve rel ia b i li ty b y u p g rad i n g co re p a ym e n ts I T sy s te m s i n lin e w ith a r elliiab le re a ble s im p l ifi ed , e n te r p r is e w i d e I T a r ch i te ct u re • P ro m o te in d u s try in n o va ti o n , l a u n c h in g n e w p r od u ct s to m ee t e m e rg i n g B e a le a d e r B e a l e ad e r c u st o m e r n e ed s Page 5
  • We drive this change through a clearly articulated Project Governance Framework &Project Execution Framework • Executive Sponsorship • Governance Framework • Project Execution Framework • Focus on Delivery & Implementation • Impacts – customers, employees, partners Page 6
  • We will apply the same approach to achieve the same “on time and budget” track record in the Payments SIP.Focus Areas: Focus Areas:• The key to better performance • Follow through on existing across all our businesses is successful productivity initiatives & having engaged committed optimise our multi brand strategy. people. We will raise the bar on • Adopt ‘Agile’ methodology to prove leadership development n and results quickly (particularly where people management as part of business requirements to create this next phase, including our daylight aren’t yet clear) diversity initiatives. We have • Execute project prioritisation as made good progress this year on endorsed by ET. our objective to improve gender equality – we now have women in People Process • Drive the implementation of the new around 37.5% of our leadership Project Execution Framework roles and we continue to move methodology (PEFm). towards our objective of a 40% ratio by the end of 2014). Technology OverallFocus Areas: Focus Areas: Solutions Impacts• Follow through on existing • Driving even further depth and successful productivity initiatives, strength in our relationships, such as our Technology upgrade particularly in deposits, wealth, program, optimise our multi brand payments, transactional banking and platform and further streamline trade and with a focus on our high and standardise all common or value relations managed segments shared services. such as corporate and affluent.• Continue to refine the operating model to best service international infrastrucutre & application footprint.• Minimal SEV1 outages. Page 7
  • A single infrastructure solution for the entire Westpac Group Varied Regulatory Environment Innovative Technologies Group Infrastructure Solution Page 8
  • Westpac in Asia Asia Focus • The journey thus far. • Locations. • Products. • Solutions. Fundamental capabilities to support our growth: 1. Global operating model, allowing our operations to ‘follow the sun’. 2. Compliance with domestic and offshore legislation. 3. Core, consolidated product systems and data masters. 4. Process & internal controls standardisation across geographies. 5. Multi-currency GL supporting operations across all regions. 6. Consolidated transactional and trade data, supporting Risk & Finance. 7. High performance global infrastructure supporting businesses. Page 9
  • Questions Group Strategy WIB Strategy WIB Technology Strategy Page 10
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