ANZ Bank - Code of Conduct | Assignment

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ANZ Bank
Overview
In the Code of Conduct, the commitment of providing results and driving outstanding
performance is done by ANZ Bank for achievement. So, providing value and taking account
properly of the customers, community, employees and others is worked within the business.
ANZ Bank attains outstanding performance and results by never compromising its ethics or
principles. The company place its great significance within this Code of Conduct on trust,
quality, integrity and honesty by setting standards related to ethics. The working of the
company is described with the way standards are set due to the expectations of behaving
professionally as concerned about the values (ANZ 2017). Also, make sure about taking
balanced, ethical and fair decisions while day-to-day working. Thus, this Code shows the
commitment of the company towards its stakeholders about related to taking care of their
interest by fulfilling their priority with the ethics before considering the profits maximisation
as an objective.
Scope
In ANZ, this Code of Conduct is applied on everyone employed or working in the company
including both permanent and temporary employees, contractors and consultants (ANZ
2019). In Australia, ANZ is bound to follow this Code that counts members of the company
as well working as per the requirement of complying these with the guidelines.
Regulatory Compliances
ANZ is abided and complied by this Code with the applicability of policies and procedures,
and law considering varied responsibilities legally with the relevancy of laws and regulations.
Here, the members of the company are not allowed to break the applicable policies, practices
or procedures, or law of ANZ. There is mandatory training in ANZ as directed completely
under the declaration of compliance with the Code as well. “BCCC (The Banking Code
Compliance Committee)” monitors the bank complied with the “Banking Code of Practice”
required understanding the compliance of Code’s principles (ANZ 2018). The suggestion to
the bank is given to comply in Australia with the guidelines of “ASIC (Australia Securities
and Investments Commission)” needed when to report or complaint any kind of case or
occurrence.
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Discrimination
Discrimination is said to be foremost issue in Australia due to its society of multiculturalism
where if proposed someone to treat or showing unfavourable treatment due to an individual
characteristics required law protection. The establishment of “The Equality Act 2010” was to
strengthen the laws and make separate legislation under one base around discrimination
where the protected individual’s characteristics are sexual orientation, age, belief or religion,
sex, gender reassignment, race, partnership and marriage, disability, maternity and pregnancy
in the workplace (Bag 2014). Further, employees have permission to report or complaint
against the one breaking the mentioned characteristics under the Act. Though, ANZ ensure to
treat everyone with dignity and respect in the workplace consisting of not to harass, bully or
discriminate unlawfully. As it is an unacceptable or offensive conduct that cannot be tolerated
within the company. Moreover, the company has the power to take strong decision if there is
a breach of conduct related to discrimination implemented by the government of Australia
under this Code’s policies (Danckert 2015). However, the company executes anti-
discrimination guidelines that promote discouraging discrimination and diversity. So it is
important for the Code to focus on excluding activities in any shape or form supports or
tolerates discrimination. Hence, there are some guidelines require to be followed
compulsorily in ANZ to evade discrimination.
 The process of selecting new employee requires evaluation to manage more than one
person relied on the ability of applicants to individualize job and qualifications rather
than looking at differences.
 ANZ adopted the diversity policy and inclusion to make sure that the company is
focusing on creating diverse workforce including women, indigenous and disable
individual for maintaining the positive environment in the workplace.
 The promotion of employees in the workplace is needed to be dependent on
performance and abilities analysed rather than noticing their personal characteristics.
 The jobs and roles of employees are confirmed in the company while taking care of
non-discrimination manner (ANZ 2018).
 There are numerous other actions required to be considered by the company’s
management to reinforce and nurture diversity.
The various legislative guidelines in Australia issued by its government as well for
organisations to make sure about any person to not to engage in the practices related to
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discrimination (Fuhs 2018). In ANZ, if the employees face or witness any activities
considering discrimination are allowed to complaint about the issue to avoid further
challenges. So, it is possible to report to the committee of anti-discrimination for
investigating a conduct independently to make sure about the details of employees remain
private and making the issues related to discrimination possible to resolve.
Exploitation
In the workplace, exploitation is for workers and women continuously as major victims that
can be diverse and covert often in the company. It is possible that working hard can lead to
the consequence of exploitation where the advantage can be taken easily by forcing to work
extra, unpaid hours and tasks outside based on job descriptions as well. The work and
personal life requires balance that can be prevented by controlling (Dzierzanowski 2018).
Under this Code, ANZ implements policies in the workplace for minimizing the employees’
exploitation being the main members as recognized while focusing on giving their interest the
priority in company at the time of promotions with the steps taken. Thus, there are various
activities implemented by the company for removing exploitation from the workplace.
 The managers or any other officer are not allowed to hold the pay of employees when
they are required to punish them for any mischief.
 ANZ is strict towards prohibiting the harassment sexually providing the company
with rights for employees to report the incidents privately.
 In the company, the working hours of employees are fixed and are not allowed to
force employees working on public holidays (Koh & McConnell 2018).
 Moreover, the employees’ rights are not to ignore at the time of goals need to be
achieved by the managers within the company.
There are number of steps taken by ANZ regarding mentioned policies that makes difficult
for the managerial personnel at senior level and managers at the time of employees’ rights
exploitation (Anastasia 2018). The issues are reported to the ethics committee by the
employees or if any other top level management are forced to take actions. Hence, going
against by these issues requires making sure about eliminating them in the workplace.
Corruption
Any dishonest and illegal way followed by people while the power or authority is positioned
other than being engaged in fraud related activities for gaining undue benefit is termed as
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corruption. Also, it includes giving or accepting inappropriate bribes or gifts in the workplace
where there are practices in relation to anti-corruption required while making profits ethically
emphasized in the long-run related to citizenship and corporate responsibility (Scopelliti
2016). This Code of ANZ works with “Global Fraud and Corruption Policy” in its sector of
operations related to the company’s banking. Also, the main reason while facing this
corruption related is issue affects profitability (Stauf 2017). In the company, it is essential for
the employees or managers for not taking any bribe from third parties at the time of
discharging obligations. Further, ANZ ensures to follow a strategy strictly for handling the
issue where the prohibition of employees receives gifts from customers. The company adopts
various policies that for focusing on corruption reduction in the workplace where the target is
on diminishing illegal or unethical practices that can leads to corruption possibly. It is to
make sure that the interest of customers is not harmed, neither their relationship with ANZ
(Pash 2015). Thus, management needs to encourage employees for report any incident in
relation to corruption if someone receives bribery for instance.
Dishonest an Fraudulent Behaviour
In society, dishonesty includes behaviour that can cause loss or damage such as gifts or
personal benefits acceptance, breaching privacy and confidentiality, information misuse that
also defines the over value of limit with unacceptable conducts and opposition of this Code of
Conduct. However, fraud is any actual or potential loss to people outside the company or the
society while taking under the responsibilities relating to falsification of any documents, or
financial records (Jones 2017). It can be covered as any failure to act or act where the benefit
can be obtained that is intentionally unauthorised. ANZ implemented policies under this
Code at the time of focusing on dishonest and fraudulent behaviour prohibited by its
employees and managers. There is a strict prohibition of engaging in any kind of conduct in
the workplace at the time of dealing with customers. Moreover, individuals’ engagement in
such practices faces civil and criminal penalties. The prohibition is specific for ANZ under
this Code in relation to number of activities such as private data misuse of customers, false
claim for remuneration by employees and others, falsification of books of accounts, and
interest violation of customer (Trevino 2018). Thus, ANZ has the authority of reporting any
fraud or dishonest behaviour immediately is suspected. The company makes sure about the
duties not discharged in any manner unfairly through these policies having chance of leading
towards negative circumstances.
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Whistle Blower Protections
The whistle blower on any employee within the company raises the issue in relation to any
practice occurrence that possibly harms any individual is whistleblowing. Also, possible if
any illegal practice occurs can be discussed normally by an employer or regulator in the
workplace. Whistle blower is the one that can take risks with an audacity for revealing the
confidential data where there is increase in the policies protection (Scopelliti 2018). Thus, the
adoption of some policies to make sure that the security is provided to whistle blower for
protecting them is necessary within the company. The policies are:
 In the company, the infrastructure is adopted for making it easier to report any sort of
illegal or unethical practices in relation to whistle blowers and officers.
 The investigation needs to be conducted by ANZ after revealing the information
depending on the fairness and justice principles naturally by the whistle blowers.
 The promotion of employees for revealing practices within the company similar to
making sure about disclosing practices in a similar timely manner (ANZ 2017).
 The company ensures about the rights of the whistle blower in relation to not being
discriminated in an organisation.
In ANZ, the execution of policies promoted by the company’s employees with the liberty to
make sure that there is number of options availability when it comes to reporting illegal and
unethical practices (Upadhyay 2019). Further, revealing information within the company by
the whistle blowers to the ethics committee is possible or else can directly approach to
external authorities such as ASIC detailed in relation to actions of the company. Every
guideline is to ensure the enable positive environment by the corporation created within the
workplace to support the interest of stakeholders.
Enforcement
The process of ensuring the regulations, rules, standards, social norms, and laws compliance
is known as enforcement. But, it is under the decision of the government when the attempt is
to effectuate policies implementation by the enforcement of regulations and laws successfully
(Ronconi 2019). Under this Code, the adoption of policies related to enforcement by ANZ is
essential as it is not possible to achieve it without effectiveness. As per the guidelines, the
provisions are applicable under this Act to everyone in the company relied on equality. This
Code comply equality for everyone as bounded by its directors. Under this Act, ANZ make
sure that the members’ rights are protected for not to dace discrimination, exploitation or any
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other issues in the hostile working environment (Michaels 2017). The provision under this
code is needed an investigation fairly where the following of natural fairness and justice
principles is necessary for ANZ to make sure that innocent individuals are not facing any
punishments.
Ethics Committee
The ethics committee of ANZ give jobs as prepared in this Code with a responsibility of its
application management throughout the company. The Committee is introduced for making
necessary amendments to make sure that the Code stays relevant and able to tackle key issues
in an organisation. Thus, assistance and clarification further in relation to the requirements of
Code, individuals can be able to connect with the committee of ethics directly.
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References
Anastasia 2018, 5 Employee Rights to Defend against Exploitation, viewed 9 January 2020,
<https://www.cleverism.com/5-employee-rights-to-defend-against-exploitation/>.
ANZ 2017, Code of Conduct, viewed 30 December 2019,
<https://www.anz.com/content/dam/anzcom/shareholder/code_of_conduct_aug17.pdf>.
ANZ 2018, Banking Code of Practice, viewed 30 December 2019,
<https://www.anz.com.au/about-us/sustainability-framework/fair-responsible-banking/
banking-code/>.
ANZ 2018, Culture and conduct, viewed 2 January 2020, <https://www.anz.com.au/about-
us/sustainability-framework/fair-responsible-banking/culture-conduct/>.
ANZ 2019, Code of Conduct & Ethics, viewed 30 December 2019,
<https://www.anz.com/documents/au/policies/ANZ-Employee-Code-of-Conduct.pdf>.
Bag, A 2014, Types of discrimination in workplace and their legal protection in India,
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their-legal-protection-in-india/>.
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workforce-breach-code-of-conduct-in-2014-20151005-gk1gqw.html>.
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behaviour>.
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Koh, B & McConnell, P 2018, Bank codes of conduct: add bars to the window dressing and
make them legally binding, viewed 9 January 2020, <http://theconversation.com/bank-codes-
of-conduct-add-bars-to-the-window-dressing-and-make-them-legally-binding-105391>.
Michaels, D 2017, Enforcement Procedures and Scheduling for Occupational Exposure to
Workplace Violence, viewed 9 January 2020,
<https://www.osha.gov/OshDoc/Directive_pdf/CPL_02-01-058.pdf>.
Pash, C 2015, The ANZ Bank sacked more than 300 staff last year over conduct breaches,
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than-300-staff-last-year-over-conduct-breaches-2015-10>.
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countries/long>.
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<https://community.hrdaily.com.au/profiles/blogs/can-workplace-corruption-be-stopped>.
Scopelliti, V 2018, Protecting Whistleblowers: Are You Ready for the Changes?, viewed 9
January 2020,
<http://www.wiseworkplace.com.au/_blog/WISE_Blog/tag/Fraud_and_Corruption/>.
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2020, <https://balancedworklife.com/holding-to-your-ethics-in-a-corrupt-company-culture/>.
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<https://invoicebus.com/blog/workplace-dishonesty-consequences/>.
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2020, <https://www.livemint.com/news/india/just-how-safe-are-whistleblowers-under-
indian-law-11571763505941.html>.
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