ANZ BANK Overview ANZ traces its origins to the Bank.docx

ANZ BANK
Overview
ANZ traces its origins to the Bank of Australasia, which opened
its first office in Sydney in 1835. The bank established a
Melbourne office in 1838, where ANZ's world headquarters is
located today at 833 Collins Street, Melbourne.
ANZ is a publicly listed company, and was incorporated on 14
July 1977 in Australia. Australia and New Zealand Banking
Group Limited is the main holding and operating company for
the Group. We are one of the five largest and most successful
listed companies in Australia, and we are the number one bank
in New Zealand. We have assets of AU$531.74 billion (as at
30 September 2010).
We operate in more than 32 countries across Australia, New
Zealand, the Pacific, Europe, Dubai, USA and Asia including
our
technology and operations centre in Bangalore, India.
We have 411,692 shareholders (excludes employees whose only
ANZ shares are held in trust under ANZ Employee share
schemes). ANZ shares and related securities are listed on the
Australian and New Zealand exchanges.
We are committed to building lasting partnerships with our
customers, shareholders and communities in 32 countries in
Australia, New Zealand, throughout Asia and the Pacific, and in
the Middle East, Europe and America.
We provide a range of banking and financial products and

services to around 8 million customers. We employ 48,000
people
worldwide.
Business strategy
We aim to become a super regional bank. This involves growing
our presence in the Asia Pacific region and source 25-30% of
earnings from our Asia Pacific Europe and America Division by
2017, while also being very focused on growth in our core
domestic businesses in Australia and New Zealand.
We have a coherent strategy to drive competitive advantage:
Geographic
• Balanced exposure to Asia's growth
• Regional connectivity
• Growing financial services market
• Strong domestic markets
Building super regional capabilities
• Bench strength/talent
• Technology operations hubs
• Global core brand
• Governance and risk management
• Building leading product capability
Customer focus
• Deep understanding of customer needs
• Resources, agribusiness, infrastructure
• Trade and investment flows
• Migration/people flows/education

Corporate governance
In relation to corporate governance, ANZ's Board seeks to:
• embrace principles and practices it considers to be best
practice internationally
• be an 'early adopter', where appropriate, by complying before
a published law or recommendation takes effect
• take an active role in discussions of corporate governance best
practice and associated regulation in Australia and
overseas.
• Sustainability
Codes of conduct
ANZ has two main Codes of Conduct and Ethics which provide
employees and Directors with a practical set of guiding
principles to help them make decisions in their day to day work.
The Codes embody honesty, integrity, quality and trust, and
employees and Directors are required to demonstrate these
behaviours and comply with the Codes whenever they are
identified as representatives of ANZ.
ANZ is committed to actively managing and reducing the
environmental impact of our activities. We acknowledge that we
have an impact on the environment:
• Directly, through the conduct of our business operations, e.g.

the energy consumed in our corporate offices, data
centres and retail branches;
• Indirectly, through the products and services we provide to
our customers, e.g. lending money to finance our
customers’ operations and,
• Indirectly, through the products and services we procure, e.g.
the technology and equipment we purchase to run
our business
Corporate Social Responsibility
Corporate responsibility framework has three priority areas:
(1) Sustainable development
• Integrating social and environmental considerations into
business decisions, products and services to help customers
achieve their sustainability ambitions and deliver long term
value for stakeholders.
• Working with business customers in this way supports their
efforts to manage
their social and environmental impacts, strengthens
relationships and reduces
ANZ’s reputational and commercial risk
(2) Diversity and inclusion
• Building the most diverse and inclusive workforce of any
major bank in the
region to help ANZ innovate, identify new markets, connect
with customers
and make better, more informed decisions.

• ANZ employees come from more than 200 different cultural
backgrounds. In
many locations the composition of employees reflects the
composition of the
local community, enabling a strong connection between the two
and the
delivery of products and services most relevant to those
communities
(3) Financial inclusion and capability
• Building the financial capability of people across the region to
promote financial inclusion and progression of individuals
and communities. Delivery of financial education programs to
the employees of business customers strengthens
relationships and builds our customers’ employees financial
capability.
• Delivery to low income and excluded groups in many of the
countries in which ANZ operates supports business
expansion plans as financial inclusion and building financial
capability is a policy aim of many governments. Financially
capable retail customers also hold more financial products
CSR Opportunities and challenges
Building a strong and sustainable pipeline of women leaders in
our organisation remains a challenge. We want gender
balance to be the norm at ANZ, and continue building on the
conditions and cultures that enable men and women to thrive
We have an opportunity to continue to understand and capitalise
on the strong inter-cultural capability of our workforce for
the benefit of our customers
Increasing employment opportunities for people with disability
remains a focus

We are continuing to build an inclusive working environment
for all employees in order to leverage opportunities for
innovation, connect with customers and make better more
informed business decisions
Source: http://www.anz.com/resources/6/3/63300ed7-a8fb-4d17-
a013-
2a38eee95e30/ANZ_FY13_Environmental_Indicators.pdf?MOD
=AJPERES (downloaded 9 January 2014)
http://www.anz.com/resources/6/3/63300ed7-a8fb-4d17-a013-
=AJPERES
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=AJPERES
ANZ again ranked lead bank globally in Dow Jones
Sustainability Index
ANZ today welcomed the announcement that it has again been
assessed the most sustainable bank globally in the
2013 Dow Jones Sustainability Index (DJSI) for the sixth time
in seven years.
ANZ Chief Executive Officer Mike Smith said: "This
recognition is a credit to the 47,000 people at ANZ who have
worked hard to improve the sustainability of our company.
"We are pleased our efforts have been once again recognised
but we know we can do more and remain committed
to further improvement, particularly in better understanding the
risks in our supply chain," Mr Smith said.
In assessing ANZ's performance, the report highlighted its work
to create a diverse, inclusive and highly engaged
workforce and develop and implement responsible lending
practices.
Key points highlighted in the report include:
• pursuing a comprehensive approach to talent attraction and
retention, developing programs for training and
recruitment of traditionally marginalized groups; and
• leveraging its presence in developing nations to support the
growth of rural industry, and deliver financial
literacy programs throughout Australia, New Zealand and Asia-
Pacific.
DJSI is the most widely accepted global assessment of how
companies approach their social, economic and

environmental responsibilities. It assesses business management
practices such as corporate governance, risk
management, customer relations, brand management, human
resources, corporate community investment,
climate change mitigation and environmental performance.
Source: www.4-traders.com/AUSTRALIA-AND-NEW-
ZEALAND-6492549/news/Australia-and-New-Zealand-
Banking-Group--ANZ-
again-ranked-lead-bank-global (downloaded 27 November 2013)
Stakeholder engagement principles
principle commitment
Congruence We engage with our stakeholders on matters that
align with our agenda, priorities and the
issues associated with our business.
Consultative We consult widely to achieve the best outcome
through consideration of a diverse range of
perspectives and experiences.
Collaborative We aim to establish deep partnerships with
organisations with which we can develop a shared
vision. We balance the competing needs and interests of all
stakeholders in the actions we take
and decisions we make every day.
Creative We create innovative programs, initiatives and
responses designed to make a significant and
lasting difference. We aim to be bold and have the courage to be
different.

Communicate We value dialogue and open, honest and ongoing
communication with all stakeholders.
We lead action and share our approach and outcomes widely.
Commitment We are committed and persistent in our efforts to
achieve a common understanding and real
outcomes on challenging issues and opportunities.
http://www.4-traders.com/AUSTRALIA-AND-NEW-
Banking-Group--ANZ-again-ranked-lead-bank-global
http://www.4-traders.com/AUSTRALIA-AND-NEW-
Banking-Group--ANZ-again-ranked-lead-bank-global
Human Resource Management
"Wherever we operate, we want our customers to experience
great service from us, and this means we need to attract and
develop the best connected and most respected people as part of
the ANZ team.
We believe in the inherent strength of a vibrant, diverse and
inclusive workforce where the backgrounds, perspectives and
life experiences of our people help us to forge strong
connections with all our customers, innovate and make better
decisions
for our business. Our people have the opportunity to learn and
progress with us, regardless of gender, age, ethnicity, cultural
background, disability, religion and sexual orientation and

professional background.
We expect the highest standards of customer service, ethics and
integrity and in return we help our people to develop and
progress their careers with us." Susie Babani, Group Managing
Director, Human Resources
HR approach
element approach
Attracting and engaging
talent
ANZ is attracting, engaging and retaining the best people and
recognising and rewarding
them for their contribution:
• Performance management
• Remuneration and benefits
• Recruitment and retention
• Employee engagement
Developing our people
and progressing careers
Providing opportunities to build careers globally, and enabling
our people to progress:
• Leadership and talent
• Learning and development
• Graduates and Generalist Bankers

Valuing diversity and
promoting a culture of
respect and inclusion
Building a respectful and inclusive workplace where employee
differences are valued:
• ANZ's approach to human rights
• Diversity and Inclusion
• Flexibility
Workplace relations
Fostering a safe work environment where employee wellbeing is
promoted and clear
mechanisms are in place develops strong relationships with our
people:
• Health, safety and wellbeing
• Workplace relations
• Our Hubs Strategy and offshoring
ANZ covers A-to-Z of training

While many international and local banks offer training
programmes that can fast-track candidates to elevated positions
within the company, few of them spell out that the real
objective is to identify and train future country chief
executives.
ANZ, with its 175 years of history, has a training programme
that includes two years' structured learning and job rotations.
Participants are moved around the region and placed in key
development roles to ensure their suitability for senior
leadership. 'Generalist bankers have the benefit of a centrally
managed career, with the long-term intention being to prepare
individuals for future country chief executive roles at the bank,'
says Anouk de Blieck, ANZ's general manager of human
resources for Asia Pacific, Europe and America. 'Success will
be partly measured through retention and progress towards the
end goal of readiness to take up a country chief executive role
in about 15 years' time.'
However, before rushing to send out an application, some
serious soul searching is required to reflect on whether one is
suited to the demands of the job and its implications on one's
lifestyle. The roles may be in any of the 32
countries in which ANZ currently operates and participants are
expected to remain globally mobile for at least 15 years, or
until their first country chief executive posting. Overseas
opportunities are an important part of the work experience
where a
large proportion is gleaned via moving across borders and
sharing experiences.
Generalist banker Mary Man, who is on the programme, has
spent considerable time in Singapore, Malaysia and New
Zealand. She advises applicants to make sure they enjoy change.
'Because of the nature of the programme, candidates do not
stay in the same place or job for long. If you are looking for

stability, you may want to think twice before applying. But if
you
are looking for challenges and lots of learning opportunities,
this will be a perfect programme for you,' she says.
Candidates must also be able to hurdle cultural challenges, as
they need to work with people from numerous countries. The
bank has about 48,000 employees and serves around eight
million customers globally. 'Adjusting to new cultures probably
has been the hardest part so far,' says Man. 'The best way to
overcome this is to keep an open mind and have an
adventurous heart.'
Apart from a sense of adventure and cultural agility, applicants
should be broad thinkers and have strong emotional
intelligence as well as a high IQ, says De Blieck. They will
have to conform to the bank's values of integrity, collaboration,
accountability, respect and excellence, she adds.
ANZ, headquartered in Melbourne, prefers applicants with two
to five years' work experience, a university degree and a
commitment to general banking.
The 15 accepted trainees will then start their four six-month
rotations in February, joining 26 others already undertaking
training at one of the six regional centres, including Hong
Kong. Training covers institutional banking, risk management,
operations and either retail or commercial banking.
'We guarantee one international placement in the first two
years, and after that, we expect [the applicant] will move every
two to three years to different countries,' De Blieck says, adding
that the placement manager uses performance benchmarks.
Every rotation includes a week-long leadership forum hosted in
Melbourne and run by the Melbourne Business School. This is
followed by the ANZ Leadership Pathway, whose design factors
in each step in the leadership ladder that participants will

take.
To guide them, generalist bankers have access to ANZ leaders
and mentors and professional and personal development
opportunities throughout their managed career.
Source: South China Morning Post
www.scmp.com/article/978484/anz-covers-z-training 2/3
ANZ “My Voice” employee survey
Respecting and ‘valuing every voice’ is one of our core values
and essential to the growth and success of our business. We
believe that motivated, engaged and knowledgeable employees
will provide the best service for our customers and
contribute to the long term success of our company.
We listen and act on employee feedback and constantly find
new ways to improve our culture and environment so that ANZ
is a truly great place to work.
2013 survey results
Employee Engagement
This assessment defines the extent to which employees are
motivated to contribute to an organisations success. An engaged
employee is satisfied, intends to stay, has pride in the
organisation and is willing to act as an advocate for the
organisation.
72%

Performance Excellence Index
This assessment has consistently been shown to predict business
performance. Survey items include commitment to customer
service, product quality, employee involvement, training and
teamwork.
78%
Behaviour Change Index
This assessment measures perceptions of action taken to address
employee feedback and its impact on engagement.
72%
Participation 77%
Leadership
Our governance structure provides oversight from the Board
down of risks and opportunities arising from our
activities. Our business is exposed to a range of key interrelated
risks including market, credit, operational,
compliance and reputation risks.
The Risk Committee oversees the management of new and
emerging risks, including environmental and
reputational risks. It also approves ‘risk appetite’, and carries
out an oversight role with respect to ANZ’s risk

management strategies and compliance. Our Risk Appetite
Framework underpins fundamental aims in relation to
strong capitalisation, a robust balance sheet and sound earnings.
The Governance Committee reviews and approves governance
policies and principles. It also reviews and
approves our proposed Corporate Sustainability objectives
annually and reviews our progress in achieving them
twice a year. In addition, it has responsibility for monitoring the
effectiveness of our diversity policy as it relates to
the Board and approving objectives for achieving gender
diversity on the Board.
The Audit Committee reviews financial reporting principles and
policies, controls and procedures and the
effectiveness of the related internal control and risk
management framework.
The Human Resources Committee has formal oversight of
ANZ’s policies and approaches with respect to diversity
and health and safety, and also monitors employee engagement
and culture.
eFinancial Career’s Shree Ann Mathavan (AM) interviews ANZ
Singapore CEO Vishnu Shahaney (VS)
AM: How did you get to the CEO role? Was it a conscious
decision to move across different banking sectors?
VS: As with all things in life it is with a lot of planning, hard
work but also luck. In the
early days of my career, it was the responsibility of the HR
teams to manage your
career. It was therefore planned in a way that I was able to
rotate between

departments and move between various geographies, and I
thoroughly enjoyed the
experience. What it developed in me was a constant desire to
learn new skills, to
meet people and interact with customers, to adapt very quickly
to new
environments, and then to take my own career into my own
hands. I knew that to be
a true commercial banker I had to have knowledge across the
various divisions of the
bank, and I was extremely fortunate that I was able to do that.
AM: Many bankers switch employers during their careers, what
made you stay on for 30 years?
VS: I am extremely proud of that. While it is no doubt the same
organisation, it has changed substantially over
the years in terms of ownership, focus, culture and management.
In fact one could argue that it’s harder going
through change of this magnitude within the firm than moving
to a new organisation. A simple reason for this is
that as a long-serving employee, you are well known to your
employer for both your strengths and weaknesses
and there are perceptions that to create change you need to
inject fresh blood. I have always thrived on change.
AM: As a boss, what is your philosophy on staff retention?
VS: I am a strong believer in people and always treat them with
respect. “Treat people the way you expect to be
treated”, consistently demonstrate these values and the task gets
easier. You must also spend a lot of time in
the recruitment phase to ensure you get the right fit – I believe
that is as important as retention.
Ensure that you continue to invest in the team, understand what
people really want, communicate extensively,
listen effectively, coach and mentor talent, influence
organisational change in frameworks where appropriate, and

importantly, push the teams to deliver their potential.
AM: What’s a typical day like for you as CEO of ANZ
Singapore?
VS: On a typical day I am at my desk at 8am and get home after
dinner most days of the week. A lot of time during
the day is spent with staff and our valued customers. Being a
growing organisation, the bias is more on execution
of strategy than strategy formulation itself, so I see my role as
leading from the front. While the days seem long
on paper, the evenings are generally spent with customers at
various events, and being with them is the most
exciting part of the day.
Promoting responsible behaviour
We have a suite of policies specifying expectations of all our
employees regarding behaviour, internally and externally. They
include:
• Anti Bribery and Anti Corruption,
• Bullying and Harassment,
• Information Security,
• Anti-Money Laundering and
• Whistleblowing.
All policies are regularly reviewed to ensure they reflect any
changes in legislative requirements.
In 2013 we carried out two investigations into allegations of
bribery, corruption and improper payments. These allegations

were substantiated, resulting in the dismissal of four people
concerned.
All our employees and contractors are required to undertake
training to ensure awareness and understanding of obligations
in a range of areas such as fraud, bribery and corruption, money
laundering and sanctions in order to prevent breaches.
Everyone must refresh their knowledge of specific courses
within the suite, annually, or every two or three years,
depending
on the subject. Failure to do this can lead to disciplinary action
and/or remuneration consequences, in serious cases it can
lead to termination of employment.
All course elements have been translated into Bahasa and
Traditional Chinese and are available as CDROMs for remote
areas
or locations with low bandwidth.
ANZ, Macquarie rapped in Singapore rate probe
ANZ and Macquarie have been implicated in an interest rate
rigging scandal in Singapore, forcing each of them to
set aside an extra $S100 million to $S300 million in reserves.
Singapore’s monetary authority censured 20 banks from around
the world banks for trying to rig benchmark
interest rates and ordered them to set aside as much as $S12
billion at zero interest pending steps to improve
internal controls.
On Friday the Monetary Authority of Singapore alleged 133
traders tried to manipulate the Singapore interbank
offered rate (SIBOR), swap offered rates (SOR) and currency
benchmarks.
A spokesman for ANZ said the bank had identified behaviour
from certain employees that was inappropriate” but

no one had been dismissed.
“Whilst the MAS Review produced no conclusive finding that
SIBOR, SOR and 10/29/13 ANZ, Macquarie rapped in
Singapore rate probe FX Benchmarks were successfully
manipulated, they found the conduct of a number of
traders at banks lacked professional ethics,” the spokesman
said. “No-one has been dismissed, however
appropriate disciplinary action has been taken with a small
number of staff.”
In response to what the MAS judged were inadequate risk
procedures, the 20 banks will required to set aside
additional statutory reserves with the central bank.
Both Macquarie and ANZ were part of a group of banks
identified by the MAS that will have set aside between
$S100 million and $S300 million with the central bank.
The document said Macquarie was not a contributing bank to
the setting of benchmark interest rates, which are
administered by the Association of Banks in Singapore.
ANZ said the requirement would not have a material impact on
its Singapore operations, and it had overhauled its
rate setting processes and lifted training standards.
Macquarie declined to comment.
Source: www.businessday.com.au/business/banking-and-
finance/anz-macquarie-rapped-in-singapore-rate-probe-
20130615-2oaq0.html 1/2 (downloaded 12 December 2013)
http://www.businessday.com.au/business/banking-and-
20130615-2oaq0.html%201/2
http://www.businessday.com.au/business/banking-and-

20130615-2oaq0.html%201/2
Whistleblower policy
The ANZ Whistleblower Protection Policy (WPP) provides a
mechanism for ANZ employees and contractors to voice serious
concerns or escalate serious matters, on a confidential basis,
without fear of reprisal, dismissal or discriminatory treatment
within the bank.
Within each business, Whistleblower Champions provide
employees with information about how the policy operates,
where
to find more information, and who to contact should they need
to make a serious complaint.
Employees wishing to raise a serious complaint through the
WPP process may raise their matter either internally or
externally. If they raise their concern internally, a
Whistleblower Protection Officer assesses whether the matter
should be
referred to a Whistleblower Investigations Officer (WIO). If so,
on completion of the investigation, the WIO recommends to
the Whistleblower Protection Officer the most appropriate
course of action.
Alternatively, employees may make a disclosure externally,
through ANZ’s Whistleblower hotline facility.
This second option is managed at ‘arm’s length’ by Deloitte,
and provides a more private option should an employee not feel
comfortable making a disclosure internally.
In 2013, reports under our Whistleblower Protection Policy
increased slightly due to improved data capture and improved
awareness of the policy and reporting processes. The majority

of reports did not uncover any significant issues. In the small
number of cases where our policies were breached we took
appropriate action including dismissal and in some instances
referral to police.
WHISTLEBLOWER DISCLOSURES 2013
Total number of disclosures 70
Disclosures carried over for further investigation 5
External accreditation and benchmarking at ANZ
Innovation and creativity
ANZ looks to mobile to leapfrog competitors
ANZ chief information officer Anne Weatherston is hoping the
bank’s new mobile platform will help it to “leapfrog
not copy” its major competitors. Recently returned from a trip

escorting the ANZ board to Silicon Valley,
Weatherston today told an FST Media event the new platform
was “months away”. She added that ANZ’s
transaction banking capability in Asia was also helping it
differentiate from competitors.
In a speech discussing how banks can compete in a digital
world, Weatherston made the case that the bank needed
to “delight and excite” its customers. “Banks will need to
operate much more like an Amazon.
There can be no distinction between assisted and unassisted
channels. Indeed in the future there will be no
channels, there will simply be customer touchpoints.”
ANZ is part way through a $1.5 billion IT transformation
program.
Weatherston said the bank’s business platforms and systems
were designed for a very different bank, not one that
operated in 32 countries. “So our challenge therefore has been
to create a new bank in the last five years, and also
to build up the technology where there has previously been
none.”
Weatherston said the bank was progressing well with its BYOD
program, which included a collaboration platform
that was critical to ANZ’s super regional strategy. She said the
bank’s private cloud deployment was also well
advanced. “This is allowing us to add scale quickly and absorb
cost.”
During the visit to Silicon Valley, Weatherston and the board
met with a delegation from US bank USAA, which has
9.6 million customers and only one branch. USAA assistant vice
president Eric Smith told the conference more than
50 percent of customer interactions it had were now through
mobile devices. “It’s something we hadn’t planned on
seeing until probably 2015,” Smith said.

USAA has launched a virtual assistant called Nina that allows
customers to ask their phone for transaction
information.
“We thought what if we bought the speech capabilities of IVR
to the mobile device?”
Smith said the bank took some of the applications that often get
buried because of the number of screens involved
and put voice capability on top of it. For example, he said,
customers can ask: How much money did I spend on
petrol last month?
“Nina also has the ability to actually do transactions for you.
You can say things like: Nina, I want to pay my
MasterCard bill on Friday for $300 out of my private chequing
account.”
Source: http://www.itnews.com.au/News/317880,anz-rolls-out-
new-customer-facing-tech.aspx
ANZ developing voice recognition for mobile banking
ANZ Bank plans to use voice recognition technology when
authorising large cash transfers to external accounts via
mobile banking, a move it says will enhance security.
Under the plan, which is still being tested, mobile banking
customers would no longer be prevented from ‘‘paying
anyone’’ $1000 or more through the bank’s smart phone
application.
Instead, they would be able to authorise higher-value payments
by speaking into their phone, after having already
provided a password. The bank’s computer system would then
compare their voice to a digital ‘‘voiceprint’’ stored
in a database.

It is the latest sign banks are using ‘‘biometric’’ information in
an attempt to identify customers more easily and
cheaply.
Lenders have also looked at using fingerprint testing to replace
personal identification numbers or PINs, or
attaching retina-scanners to automatic teller machines.
Source: www.theage.com.au/business/banking-and-finance/anz-
developing-voice-recognition-for-mobile-
banking-20131127-2ya5d.html (downloaded 27 November
2013)
http://www.itnews.com.au/News/317880,anz-rolls-out-new-
customer-facing-tech.aspx
http://www.theage.com.au/business/banking-and-finance/anz-
developing-voice-recognition-for-mobile-banking-20131127-
2ya5d.html
http://www.theage.com.au/business/banking-and-finance/anz-
developing-voice-recognition-for-mobile-banking-20131127-
2ya5d.html
AM: As a boss, what is your philosophy on staff retention?

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