MBA402 Code of Ethics for Westpac Bank Assignment Sample

• Subject Code : MBA402
• University : Kaplan University My Assignment Services is not sponsored or endorsed by this college or university.
• Subject Name : Management

The Westpac Banking Corporation

Table of Contents

Introduction

Discrimination

Exploitation

Corruption

Dishonest and Fraudulent Behavior

Whistleblower Protections

Enforcement

References

Introduction

The Westpac Banking Corporation, frequently called as Westpac, is an Australian bank and monetary services contributor which is based in Westpac Place, Sydney. It was recognized as the Bank of New South Wales in 1817. It is one of the "Big Four" banks in Australia and the first and one of the oldest banking institutions in Australia. Its name is a coat rack "West" and "Pacific Ocean". The Code of Ethics for Westpac Bank Australia is located in Sydney, Australia. We have subjected a variety of policies and guidelines to complete our obligation as the most accessible bank in Australia. We are dedicated in order to subject a strong and secure workplace in context to our clients, workers, guests, and partners. We are dedicated to taking responsibility in context to corporate social terms.

This particular code will be subjected by our board of directors and will be permitted soon. The purpose of this code is to impart policies that all our workers will follow. Each worker of our bank has to abide by the rules laid down in this code (Ferramosca et al. 2017).

Discrimination

The goal of Westpac Bank is to create an interrelated business world for an individual around the world. We can attain the best consequences if every worker, client, and other business partner is respected and can work in an environment that is free of harassment and discrimination (Alawiye-Adams and Ogundele, 2018).

It is very significant to create a self-respecting environment:

1. Avoid harassment and discrimination based on race, sex, pregnancy, sex, caste, religion, creed, country of birth, nationality (Applicable legal profession and contract), sexual orientation, culture, ancestry, family position or parents, police station military position, promotion Status, unemployment status, socio-economic status, the status of victims of domestic brutality or other grounds for a ban on laws and legislation (collectively identified as protected characteristics).

2. If the workers have been harassed or discriminated, or have been ill-treated against, please report the administrator or the HR representative or the Westpac Bank Policy Office. There is no need to put forward the complaint to the respondent.

3. If the workers have received a complaint of harassment and discrimination or if the workers have retaliated against it to anyone for subjecting such behavior, please inform the manager, human resources representative, or the bank's ethics officer.

4. If a company is subjected in context to discrimination or harassment, notification to the manager is a need.

The Westpac Bank will soon examine the allegations in context to harassment or discrimination, stay sensitive to the investigation, and take the suitable corrective deed to the fullest extent acceptable by local law. Revenge or participation in research investigations into allegations or allegations of discrimination, harassment, or intimidation is also prohibited.

Exploitation

Westpac Bank relies on us to do justice to private business transactions while protecting its reputation. In context to properly manage real and identify and possible conflicts, workers need to:

1. If Westpac Bank has a business relationship in context to a business or wants to carry out transactions of business with workers or a significant person connected to has straight or indirect profit with the business, or someone connected to workers may benefit from the business, let the manager know so that Internal legal advice or consent can adhere to the agent.

2. Keep in mind those workers of certain business units need to be subjected to strict requirements. It is mandatory to get in touch with the consent officer for more data.

When we try to construct and support our business relationships in context to other parties, we need to avoid accepting contributions or hospitality in order to disrupt our activities or even hinder our activities. Maintaining a good business relationship with our clients may subject to sending gifts and mutual generosity. However, we cannot allow such activities to have a negative impact on our financial responsibility (Banks and Westoby, 2019).

Generally, workers should not acknowledge gifts or hospitality in regard to the obtainable or potential clients, suppliers, or Westpac Bank suppliers (counting catering, travel and / or accommodation arrangements) or others.

To act transparently and intelligently and to keep away from real or suspected abuse, workers need to:

1. Do not acknowledge or accept gifts, hospitality, services, or benefits from any close family member (including clients, suppliers, suppliers or others) unless it may affect the business judgment or be considered by others, or other the objectives of the party. In this regard is the exchange of present, past, or future business in context to the Westpac Bank.

2. Do not acknowledge cash contributions or their equivalents like gift certificates, gift cards, or coupons.

3. Acknowledge non-financial gifts only if: appropriate law approves and complies with Westpac Bank policy; Gifts are not expensive or are given for family or private relationships. Suitable, traditional theological, and rational gifts and have no purpose of influencing Westpac Bank's business.

4. Suitable and sensible hospitality and banquets with donor contribution only if approved by appropriate law and Westpac Bank policy like casual business dinners or sports events.

Corruption

Workers need to adhere to the Anti-Corruption and Anti-bribery Policy:

1. It is well to know the pre-approval and reporting requirements of all Westpac banks related to the applicable Anti-Corruption and Anti-Corruption Act.

2. Regional Anti-Corruption and prior written approval from the examiner or candidate, gifts to local authorities or family members of local authorities have no value or commitment. Workers do not have to comply with the provisions unless you give a written waiver.

3. Government workers do not promise internship or internship opportunities for the purpose of harming anything (including employment) by approving, approving, accepting, proposing to any member of a government official or concerned worker or grant to their family or third party or members. Pay any charity or beneficiary) Any formal action to force the recipient of Westpac Bank to do business with the recipient or to avoid or force them to increase their rates.

4. Be aware that indirect return to any lawyer, broker, consultant, entrepreneur, or other third party is the focus to the same limits and third parties have an obligation to know what workers need to do.

5. No accommodation costs can be compensated despite pertinent law. A housing charge is a small amount of money paid to administration officials or agencies to expedite or make sure regular government activities, such as licensing or licensing approvals, or other low-level administrative work acceleration levels.

Dishonest and Fraudulent Behavior

There are several kinds of fraud that can happen in every division and fraud does not for all time subject goods or currency.

To defend the value of Westpac Bank assets, it is required to;

1. Immediately report fraud and intent or unexplained disappearance in context to funds or securities, or other offenses, in addition to Westpac Bank's fraud management policies and standards.

2. Workers can contact anyone listed on Westpac Bank Security. If workers are unsure about the errands they should take under the Fraud Management Policy, then they are free to talk to the administrator.

Whistleblower Protections

We need to adhere to the uppermost fair standards and go after the necessities and strength of this code, which is the duty of each worker. We subject that political action is not presently the correct way to do stuff; it is the right way to do commerce and the right way to serve clients, industry colleagues, shareholders, and the group of people.

If it is found that a worker of Westpac Bank Group or anybody working for this company may be abusive, workers need to report the concern in a timely mode. This is the compulsion to the colleagues and Westpac Bank. It is significant that Westpac Bank works closely with clients, industry colleagues, workers, and stakeholders to detect and determine these issues in advance.

If workers suppose or are duly aware of a violation of Westpac Bank laws, set of laws, policies or this Code of Conduct

Workers need to account the subjections in a timely manner within the following period:

1. Applicants are recruited according to the applicable local publishing system

2. The director or another member of the director

3. The individual represents the human, worker or work relationship

4. The internal legal advice

5. The consent officer

6. Westpac Bank Policy Office

Even after we support workers to elevate concerns with Westpac Bank at first, we comprehend that this is sometimes not possible. Consequently, this particular section and some other elements of this Code are not planned to prohibit or restrict the voluntary disclosure of the private data to government, authoritarian, or self-regulatory agencies. Worries can arise even before a Westpac Bank license is obtained and Westpac Bank does not need to be informed of the decision.

Westpac Bank subjects it is significant for workers to realize that they can safely report problems. We give confidence to the workers to mirror the work concerns. We will comply with appropriate regulations and laws in agreement in the company of the requirements for the investigation and management of such incidents. Whenever probable, the reports will be processed and all reports received from the Westpac Bank Ethics Office and conduct will be subjected to confidential investigations. However, the workers should comprehend that if they subject any of the unidentified methods, Westpac Bank may not be able to get the additional data that is required to reflect the problem (Mass, 2017).

Enforcement

Westpac Bank will subject a full, fair, and timely exploration after getting reports of potentially inappropriate or unethical behavior.

If workers need to take part in an investigation for proper approval, you need to:

1. These ethical issues, discrimination allegations, or harassment allegations are not limited to investigations but fully co-operate in internal or external investigations.

2. Do not decline to offer, interfere, or conceal relevant data.

3. Below, if the examples described below are not applicable or required by applicable law, try to preserve and guard the confidentiality of the survey.

4. External or internal auditors, lawyers, investigators, Westpac Bank representatives, regulators or government agencies should not otherwise or misinterpret. Otherwise, it could immediately shut down employment between workers and the Westpac Bank Group or even lead any relationship to crime, leading to more stringent sanctions.

Nothing in this section or whichever part of this Code is proposed to prohibit workers from disclosing confidential data, disclosure of confidential data (commercial confidentiality) from being harmed by government officials or lawyers.

Workers do not need the approval of Westpac Bank authorities before imparting concerns and notification is also not required for this to the Westpac Bank.

Corrective action will be taken in context to breach of our laws, regulations, code, or Westpac Bank policies or actions. This can subject to job losses. Bad behavior that leads to disciplinary action includes:

1. Violates or others need to violate this code.

2. The code does not report known or suspected violations of this code.

3. Code Ignore this code intentionally.

4. Workers take revenge on workers who report harm in good faith or take part in investigations.

5. There is no worker management or due conscientiousness to encourage workers and others to adhere to this Code.

In adding together, your workers will be accountable for any bad behavior (counting misconduct) in context to the connection with Westpac Bank. If workers know or have known about someone who has abused, workers may also be answerable for their actions (or inaction). Your work proceedings may also be subjected to the controller in the event of a civil or criminal fine, loss of eligibility for a particular position, and/or permanent loss of financial services.

For Westpac Bank policy waiver exceptions, the specific policy will include a waiver process. With respect to other provisions of this Code, only the General Council or the Chief Council of the Westpac Bank Group has the right to decide whether to award exemptions (Schwimmer and Maxwell, 2017).

References

Alawiye-Adams, A.A. and Ogundele, A., 2018. Ethics and Professionalism in the Banking Industry, a Case Study of Nigerian Banking Environment. Available at SSRN 3095229.

Banks, S. and Westoby, P. eds., 2019. Ethics, equity and community development. Policy Press.

Ferramosca, S., D'Onza, G. and Allegrini, M., 2017. The internal auditing of corporate governance, risk management and ethics: comparing banks with other industries. International Journal of Business Governance and Ethics, 12(3), pp.218-240.

Mass, R., 2017. A banker’s code of ethics. Oxford Review of Economic Policy, 33(2), pp.257-277.

Schwimmer, M. and Maxwell, B., 2017. Codes of ethics and teachers’ professional autonomy. Ethics and Education, 12(2), pp.141-152.

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