Michele H ackshall

Banking C areers
The old fashioned days of piggy banks and stashing cash under the
mattress have been and gone. Money makes the world go round and there
is a world of job options in looking after the cash of Australians, who are
saving, investing or just plain spending their hard-earned dollars.
Banking Jobs that are on the money!

Careers
Career FAQs Banking Careers looks at the diverse job opportunities in the
wonderful world of dollars and cents. Unlike typical numbers experts, such
as accountants and economists, people in banking come from a variety
of different fields sales, marketing, human resources and IT. Of course,
banks employ the numbers experts as well.

Whether you are interested in customer service, banking administration or

management, in the big smoke or in regional areas, Career FAQs Banking
Careers is a valuable resource. It gives you the low down on how to land
that job, and what goes on behind the scenes, with over 25 interviews with

Banking Careers
a diverse range of people working in banking.

Also available:

Accounting Foreword by Gail Kelly

Gail Kelly is Managing Director and Chief Executive
Law Officer of St.George Bank. St.George is Australias
fifth largest retail bank and one of the top 15 listed
Financial Planning
companies with over 8700 employees.
Information Technology
Gail joined St.George from the Commonwealth Bank
Investment Banking of Australia where she was Head of the Customer Service Division. Gail
is a Director of Melbourne Business School Limited and a member of the
Be Your Own Boss Financial Sector Advisory Council. Read about Australians working in banking.
and many more at

www.careerfaqs.com.au
Find out how you can get started.
Id like to congratulate Career FAQs on their fantastic work producing
career books that are both entertaining and informative. Im sure they will
serve as great inspiration and useful guides for many considering Check out the sample rsums and cover letters.
100% Australian Content

their career options.

Michael Straight Business Manager, Brisbane

Michele Hackshall
CFQBnkCov0703_5.indd 1 30/5/07 7:19:51 AM
Want more quality career resources from Career FAQs for FREE? Click here

Banking Careers
Jobs that are on the money!

By Michele Hackshall

Australia

Published by Career FAQs Pty Ltd

 Copyright Career FAQs Pty Ltd, 2007

This book is copyright. Apart from any fair dealing for the purpose of private study, research,
criticism or review, as permitted under the Copyright Act 1968, no part of this publication
may be reproduced by any process or by any means, electronic, photocopied, recorded or
otherwise without prior written permission of the copyright owner. Inquiries for reproduction
should be addressed to the publisher, Career FAQs Pty Ltd.

Published by
Career FAQs Pty Ltd
Suite 76, The Hub
8997 Jones Street
Ultimo NSW 2007
+61 2 9282 9383
www.careerfaqs.com.au

National Library of Australia

Cataloguing-in-Publication entry:

Hackshall, Michele.

Banking Careers: Jobs that are on the money!

ISBN 9781921106422

1. Banks and banking Vocational guidance Australia. I. Title.

332.023

Publisher: Sue Stevens

Author: Michele Hackshall
Editors: Darryn King, Alison Edwards
Production coordinators: Louisa Veidelis, Jane Dickinson
Production assistants: Amanda Evans, Helen Isbister, Laura Parker, Tess Meyer
Internal design and desktop publisher: Terri Marzullo, H2M Creative Services
Cover design and illustrations: Nigel Beard, Ainslie Beard Creative
Proofreader: John Sims, Sims Editing and Proofing
Printed by GlobaPrint www.globaprint.com
Advertising sales enquiries: Will Santow

Career FAQs acknowledges the following copyright owners for permission to reproduce their
work.

Graduate Careers Council of Australia, www.graduatecareers.com.au

Every effort has been made to contact copyright owners and obtain permission. However,
should an infringement have occurred, Career FAQs apologises for the omission and
requests that the copyright owner contact them

Disclaimer
The opinions and statements made by people who contributed to this book are not those of
Career FAQs. The publishers do not claim to represent the entire extent of the professions
included and extreme career choices. The aim has always been to provide a broad overview of
the possibilities available.
As such Career FAQs Banking Careers does not purport to be a true and accurate record of
the industries included, relying on the voices of those working in the jobs to tell their stories.
Inaccuracies may arise as a result of the nature of this book. Users should follow the links to
actual websites of organisations to ascertain current practice in these jobs

An imprint of Career FAQs

Foreword
I think its easy to make incorrect assumptions about working in
banking. Traditionally the industry conjures up images of a male-
dominated world of drab grey suits and some very serious number
crunching. In reality, I think the world of financial services offers
enormous career potential to a wide variety of people with diverse
interests and backgrounds. Banking encompasses a huge range of
careers from working in a Branch on the front line, to working in
human resources, marketing, relationship management or many other
areas, meaning there are opportunities for everyone who wishes to Gail Kelly
pursue this path. Managing Director and
Chief Executive Officer,
One of the key attributes that I believe is critical to a successful career St.George Bank.
in banking is being good with people personal contact is the key to Gail joined St.George from
the Commonwealth Bank of
successful banking. At St.George, our culture is very much centred Australia where she was Head of
the Customer Service Division.
around the principles of caring, of displaying a warm and friendly Gail is a Director of Melbourne
attitude and of listening to others. These are qualities that define our Business School Limited and a
member of the Financial Sector
relationships with each other, and ensure that we really are prepared Advisory Council.
to go the extra mile and provide an exceptional standard of service to St.George is Australias fifth
our customers. largest retail bank and one of the
top 15 listed companies with over
8700 employees.
More than any other piece of advice, I cannot over-emphasise
the importance of pursuing a career that you really love and are
passionate about. It is so important to give whatever role you choose
one hundred per cent and in order to do this, you must enjoy your
work and you must believe that you are able to make a difference.
This is something that I have discovered through personal experience.
I began my career a far cry away from banking, as a teacher in South
Africa. Not too far into my teaching career I began to realise there
were elements of the job that did not meet my expectations and I
was forced to acknowledge that I wasnt happy in my role. I made a
decision to make a change and pursue something I would really enjoy.

Whatever career path you choose to venture down, maintaining a

sensible lifework balance is vital. This is something that we place
great emphasis on at St.George and I strongly believe that in order to
get the best out of people, you must understand that they have a life
outside of work and need to spend time with family and pursue other
personal interests and hobbies. Having four children myself, including

>>

iii
 Banking

triplets, this is something I am keen to promote. Of course, this means

that I have had to learn how to prioritise and how to juggle sometimes
conflicting demands. Having a sense of humour is a big asset!

I wish you luck in whatever you choose to do in the future and I highly
recommend anking as an exciting and fulfilling career.

Go well!

Gail Kelly
Managing Director and Chief Executive Officer, St.George Bank

iv
Contents
Our sponsors ix
About Career FAQs x
How to use this book xii

The big picture

Why banking? 1
What do people in banking do? 3
What makes a good banker? 4
Whats happening right now? 6
Current size of the banking industry 6
Women in the industry 7
What are the job opportunities? 9
Frontline 10
Head office 10
Overseas opportunities 12
How much can I earn? 13
Who are the main employers? 16
The big banks 16
Regional banks 17
Credit unions and building societies 17
Foreign-owned banks 18
Non-bank lenders 18
Other financial institutions 19
What are employers looking for? 20
David Dunstan St.George Bank 22
Eliza Brabyn Bank of Queensland 24
Mark Johnson Orange Credit Union 26
Craig Williams Citigroup 28
Alice Del Vecchio Aussie Home Loans 30
What support organisations exist? 32
Financial Services Institute of Australasia 32
Finance Sector Union 32
Women in Finance 32


 Banking

Financial Services Education Agency Australia 33

Australian Bankers Association 33
Abacus 33

Insider info
What jobs could I do? 35
What do real people say about their jobs? 37
Alana Foster Service Consultant, ANZ 37
Emma McDonald Service Consultant, ANZ, Moree 40
Stefanos Soulidis Relationship Officer, Bank of Cyprus 46
Natalie Podreka Customer Service Supervisor,
Bendigo Bank 42
Lesley Walker Team Coordinator, E-commerce and
Investments, Defcredit 49
Tania Prior Team Leader, New Lending, Westpac 52
Harry Senlitonga Finance Analyst and
Sector Manager, CANNEX 55
Jeff Davis Manager, Client and Risk Analyst,
Macquarie Bank 58
Donny Galella Customer Loyalty and Value Manager,
Virgin Money 63
Jodie Matthews Branch Manager, Commonwealth Bank 66
Susan Treglown Human Resources Consultant, Westpac 71
Jacek Sciezka General Manager, Polish Community
Credit Union 74
Nikki Cooper Manager, Business Support,
Commonwealth Bank 77
Chris Jones Mobile Lending Manager, Adelaide Bank 80
Erica Elvy Regional Sales Manager, Aussie Home Loans 85
Justin Harrison Rural State Manager, QLD and NT,
Rabobank 88
Kim Morris Marketing Manager, Horizon Credit Union 91
Belinda Howell Former General Manager, Marketing,
Rabobank 94
Frank Howe Head of Personal Financial Services (Fiji),
ANZ 97

vi
 Shane Oliver Head of Investment Strategy and
Chief Economist, AMP Capital 100
Effie Zahos Deputy Editor, Money Magazine 103

Ready, set, go for it!

What qualifications do I need? 107
Study options 108
University courses 108
What can I expect to learn? 110
Bachelor of Business 111
Bachelor of Finance 113
TAFE courses 114
What can I expect to learn? 115
Certificate III in Financial Services 115
Certificate III in Business 116
Diploma of Financial Services 117
Industry courses 117
FINSIA 118
FSU education program 118
Other providers 119
Which program do I choose? 119
Do I need postgraduate qualifications? 120
How do I get that job? 121
How are people recruited? 122
Recruitment agencies 122
Aboriginal Employment Strategy 123
Graduate programs 124
Word of mouth 126
Corporate websites and direct advertising 126
What are recruiters looking for? 127
Elizabeth Roberts Michael Page International 127
Matthew Gowan Hays Banking 129
Helen OLoughlin Westpac 131
Kristen Bugeja Defcredit 133
Stand out from the crowd 135

vii
 Banking

Create an outstanding application 135

The rsum 135
Tips: The rsum 138
The cover letter 139
Tips: The cover letter 141
How can I stand out at the interview? 141
Preparation 142
Presentation 144
Performance 144
Interview types 146
Behavioural interviews 147
Panel interviews 147
Group exercises 147
Psychometric tests 148
What can I do right now? 149
Start researching 149
Work on your application 149
Get experience 149
Buzz words 151
Appendix 1
Comparative starting salaries of various professions 155
Appendix 2
Hays Banking 2006 salary survey 156
Appendix 3
ASIC Policy Statement 146 158
Appendix 4
Sample job advertisements 159
Appendix 5
Sample rsum 161
Appendix 6
Sample cover letter 163
Photo credits 164

viii
Our sponsors
A big thanks goes out to our sponsors for their generous contributions.

ix
 Banking

About Career FAQs

Whether you are just starting out, changing jobs, moving up the
ladder or returning to work after a break, Career FAQs books give the
inside story on just about any job you can imagine.

Dont end up in someone elses life.

A career choice is really a life choice
Will Santow, Managing Director, Career FAQs

What makes our books different?

In each book, employees, employers,
Career FAQs is recruiters and industry experts tell their
Australias leading stories so you can really tell if this is the
careers publisher, right career for you. Youll find out what is
with a dynamic happening right now in your chosen area,
new approach to get the inside info on the qualifications
making career you need and where to get them, and find
choices. out what current employees really love
about their jobs.

You also find out how to stand out from the crowd and get that dream
job, with our industry-specific rsum, cover letter and interview tips
and examples.

Career FAQs is Australias leading careers publisher, with a dynamic

new approach to making career choices.

I started Career FAQs because of my own difficulties in finding

empowering, high-quality, up-to-date career information to help
me make career decisions.

I wanted to change careers in my 30s, but trying to research a

new direction led to a dead end there was no interesting and
reliable information on the qualifications I needed for different
jobs, the opportunities available, likelihood of succeeding, or,
most importantly, what the work would be like once I got there.

I know that our books can make such choices easier by giving
our readers the information they need to find a career that
meets their dreams and aspirations.


Our range covers the usual career areas, as well as moving well
beyond ordinary categories into careers you may never have
thought of. Theres a great job out there waiting for you and we
can show you what it is and how to get it.

A big thanks goes out to the many people who have taken
the time to talk to us and shared their experiences with our
readers, as well as to the many eminent Australians who have
written forewords to our books, sharing the insight and wisdom
that has helped take them to the top.

For a list of current titles, please visit our website,

www.careerfaqs.com.au.

With Career FAQs you have all the tools to nd your dream job.

Good luck!

Will Santow
Managing Director
Career FAQs

xi
 Banking

How to use this book

All Career FAQs books are carefully structured to help you find the
information you need quickly and easily.

The book is divided into three main parts.

The big picture provides an overview of the industry, including

employment opportunities and income snapshots. Youll find
information about the main employers and support organisations, as
well as interviews with employers about what they look for.

Insider info contains interviews that recount the personal

experiences of people who are currently working in the job, profession
or industry. It allows you to discover what it is really like to work at the
various levels of seniority.
fyi
Ready, set, go for it! tells you how to get the appropriate training and
Many words, phrases, experience for the job and what to do to get your dream job. Youll find
abbreviations and
out how to create your application and how to stand out at interviews.
acronyms are defined in
buzz words at the back of
To help you navigate through the text and also find information
this book.
beyond this book, the following icons are used throughout.

cv is a snapshot of each interviewees career

pathway it shows some of the stepping stones
along the career path that led to their current
position

directs you to another Career FAQs title that might

detour
interest you

find out tells you where to nd out more about a

more particular topic or organisation

provides interesting additional information, which

fyi
might come in handy!

xii
 provides a brief denition of a word, term or
glossary
acronym that appears in bold in the text

in sums up a specic job, including salary,

brief qualications, number of hours worked, lifework
balance and exibility, as told by our interviewee

MYTH explodes a popular myth about the industry or

profession
fact

xiii
 The big picture
Why banking?
Do you remember your first piggy bank as a child? Months and months
of precious pocket money disappearing into that tiny box, all for the
glory of one prized toy? We discover the value of money and its impact
on our lives from early childhood, and theres no doubt that one of the
most important lessons we learn is that money makes the world go
around. Thats where banks come in.

Banking is anything to do with money: depositing, withdrawing,

borrowing, investing, lending and more. The good old days of stashing
your cash under the mattress are over these days everyone has a bank
account, and Australians are now spoilt for choice when choosing an
institution for their financial services. Australias banks compete against
foreign-owned banks as well as credit unions, building societies and
non-bank institutions like Virgin Money or Aussie Home Loans.

The finance sector, in a sense, has a huge role in greasing the

cogs of international economics. Its not all greed and money.
You generate returns so that people are better off.
Shane Oliver Head of Investment, AMP Capital

Want more quality career resources

from Career FAQs for FREE? Click here 
 Banking

Despite what many think, working in banking doesnt necessarily

mean you have to be good with numbers, although its definitely
an advantage. As most financial institutions now offer a range of
products and services to meet their clients needs, these institutions
need a wide range of skill sets to be effective and stay competitive.
Other than your typical numbers experts, like accountants and
economists, banks and other financial organisations are looking for
people with backgrounds in everything from sales, marketing, human
resources right through to IT.

If you can get it right with your people, you can get it right with
your customers, your shareholders and your community.
Ralph Norris CEO, Commonwealth Bank

Another misconception about banking is that you have to have

a degree to get ahead. A degree is not mandatory for a career in
banking. You can start a career in banking if you are willing to start
in a branch and work your way up. In this book youll come across a
number of people, young and old, who have achieved success in their
career without formal qualifications. This is because banks offer great
opportunities for internal development and career progress. Most
financial institutions have sophisticated and well-established training
programs and those who work in banking find that their skills can
translate across industries and organisations easily. Having a bank
or other financial institution on your rsum will help you rather than
hinder you in your career.

These days banking can cover just about everything to do with people
and their money. Whether you are helping customers, creating new
products, or deciding whether or not to raise interest rates, its all
relevant to a banks daily business.
fyi At its most basic level, banking involves helping people, businesses,
government and other organisations with their financial needs. This
In 1992, Money magazine
surveyed 100 jobs in the can include accounts, cheque loans, mortgages, financial planning
United States. The job of and investments. Banking institutions nowadays also offer various
banker was listed as the
second most satisfying. products and services such as insurance and stockbroking, and
therefore need people with a wide range of skills to facilitate these.


 The big picture

What do people in banking do?

Generally, people who work in banking do a wide range of tasks and
duties. In the past, the word bankers conjured up the image of old,
grey-haired men sitting in old leather chairs and smoking cigars.
But, just like the industry, the face of banking is dynamic and always
changing. Bankers now see themselves as progressive, revolutionary fyi
agents of change. The banking sector is usually the first to profit from
any new technologies, and therefore its an industry where every day In 1980 there were 25
Automatic Teller Machines
offers a new challenge and new opportunities. (ATMs) and 300 types of
mortgages in Australia. In 2003
Those who work in banking can be divided into two categories: there were 20 899 ATMs and
frontline and head office. Frontline staff are people who deal with 3000 mortgage products.
customers and include branch staff and management. Head office staff Source: Australian Bankers
Association.
are those who work behind the scenes to help the bank as a business.

Frontline staff:

n serve customers n sell home loans

n sell products and services n manage staff

n perform administrative tasks n open accounts

n balance cash n drive sales targets

n perform teller duties n train and mentor staff

n build relationships n advise on products and services

n give advice n offer investment advice.


 Banking

Head office staff:

n develop new products n analyse competitors and

set pricing
n conduct financial analysis
n prepare marketing strategies
n assess investment risks
n meet with third-party
n oversee project management
companies
n develop systems and programs
n prepare and manage budgets
n forecast economic indicators
n devise strategies
n develop managed funds
n set interest rates for products
n run training workshops
n manage staff
n advise management
n maintain online services.

What makes a good banker?

We asked real people in real banking jobs what they think makes a
good banker. Heres an overview of their responses.

n Good with people n Loves a challenge

n Loves building relationships n Good analytical and
numeracy skills
n Perceptive
n Good spoken and written
n Pedantic
communication skills
n Flexible and responsive
n All-round business skills
n Well disciplined
n Organisational skills
n Good attention to detail
n The ability to multitask
n Solid integrity
n An understanding of processes
n Vision and drive and systems

Working in banking is challenging and rewarding at the same time.

To get ahead, youre expected to work hard and be able to cope
in a constantly changing environment. This is because banks and
financial institutions are in tight competition, and theyre competing
in an environment that can change dramatically on any given day,
either with new regulations or a new product being introduced by a
competitor. But in return, good workers are usually rewarded with a
higher salary and rapid internal career progression.


 The big picture

The kind of person who makes a good banker will generally be:

n a good team player passionate with strong values

n

n a people person honest

n

n independent persuasive
n

n a self-motivator confident
n

n hard working flexible.

n

To get a job in this industry you have to show that youre

going to be a hard worker. You need to show you have a
history of succeeding at what you do. Most importantly, you
have to be honest.
Jeff Davis Risk Executive, Macquarie Bank


 Banking
MYTH
bank branches will
soon be obsolete
Although there were
branch closures in the
early 1990s, most banks
are now opening more
fact
branches as part of
their strategy for better
customer satisfaction.
fyi
Australias top five banks are
National Australia Bank, ANZ,
Westpac, Commonwealth
Bank and St.George Bank.

Whats happening right now?
Theres no doubt that the banking industry has changed drastically
over the past 20 years. Changes to regulation in the 1980s allowed
more competitors, in particular foreign banks, to enter the market.
Innovations in technology offered new ways for financial institutions
to provide and improve upon their services. Both these changes have
created an expanded and aggressive market. Where banks, credit
unions and building societies had previously offered only simple
services such as passbooks, cheque accounts and mortgages, they
now offer a wider and complete range of services and products.
According to the Australian Bankers Association, more than 80 per
cent of banking is now done electronically, whether by ATM, Internet,
telephone or even SMS.
But, just as the industry has revolutionised to create new
opportunities, there are also new threats. Banks are looking overseas
for cheaper labour, with many financial organisations now moving jobs
in processing and IT to countries like India, while growing competition
has pushed many institutions to merge or be taken over by bigger
organisations.
The main thing that has changed in the banking industry in recent
times is the culture. As banking institutions have developed better
products and services and are encountering increased competition,
they have had to change their culture to one focused on meeting sales
targets. As a result, more opportunities in banking today are focused
on sales.
Current size of the banking industry
The finance and insurance industry is one of the fastest-growing
sectors in Australias economy. According to the NSW Department of
State and Regional Development, the finance and insurance industry
employed 378 000 people nationally in 2006. Of these, over one third
were employed by Australias top five banks alone.
New South Wales has the largest state economy in Australia, and its
capital Sydney is considered to be the nations finance and business
capital, with a 40 per cent share of national employment in the
finance and insurance industry. However, this doesnt mean there
arent opportunities elsewhere. Most financial institutions including
credit unions, building societies and regional banks operate head
offices,processing centres and call centres all around the country.
 The big picture

Wherever there is a branch, there is the potential for a career in

banking. Even with improvements in electronic banking, branches are
not disappearing. In 2005 there were 5594 branches across Australia,
and the number of bank branches have actually increased in the last
five years by three per cent.

According to information from the Australian Bankers Association

website, banks are vital to the Australian economy. With a long
history of stability, practically no Australian has lost their deposit in
an Australian bank in the last 100 years. They are the third largest
contributor to the nations Gross Domestic Product.

Women in the industry

The general impression of banking is that it is a male-dominated
industry. The reality is that bank workers are predominantly female
with men making up only 32 per cent. However, when it comes to
moving up the ranks into management positions, the male/female
balance changes: 61 per cent are men. According to the Finance
Sector Union, women make up between 21 and 29 per cent of senior
management positions.

Over the last five years, we have seen a lot more women enter
the financial services industry. These women have typically filled
branch level positions with a small percentage filling senior key
roles. I dont see (yet!) that women are becoming more equal
across the industry as the senior management positions are still
being held by male counterparts.
Lauren McDonald President, Women in Finance (Queensland)

Women seem more suited to customer service roles. They are

fyi
better communicators. And as far as senior management is Women were first employed
concerned our CEO is a woman! in banks in Australia during
David Dunstan Branch Manager, St.George Bank World War I. Up until 1965,
they were required to resign
In 1996, Westpac was the first bank to offer paid maternity leave for on marriage, were not
allowed contact with the
women. Westpac and other banks are now providing parental leave public, and were restricted
provisions, which includes leave for fathers too. from handling cash. In that
year, the marriage bar was
In an article, Australian Women in Banking: Still the Reserve Army finally lifted and in 196667,
published in the journal Women in Management Review, February the equal pay for equal work
campaign began in earnest.
1994, Jane Burdett argues that the banking sector needs to be aware
Source: Australian Trade Union
of the structural, attitudinal and social barriers that effectively Archives, www.atua.org.au/
biogs/ALE0297b.htm
disadvantage women in the banking system.


 Banking

Burdett argues that part of the reason women are not in more senior
positions is that they do not remain in the industry for significant
periods of time. This is regardless of whether women work full or part
time.

While affirmative action programs such as paid maternity leave have

helped women to stay in their banking careers, the cultural and
attitudinal barriers are proving more resilient even in the early years of
the 21st century.

Ann Sherry, CEO of Westpac New Zealand, says that to help paid
maternity leave get a gong in 1996, she showed that, in denying
maternity leave, the bank was actually losing money through lost
corporate knowledge when women resign, and the additional cost of
training new staff to replace them.

The Federal Governments Equal Opportunity for Women in the

Workforce Agency (EOWA) named the following four banks in their
Employer of Choice for Women 2007:

n ANZ

n Commonwealth Bank

n National Australia Bank

n Westpac.

Recognising the value that women can bring to a bank at a senior

managerial level should encourage young women considering banking
as a career. Ann Sherry from Westpac and Gail Kelly from St.George
Bank are two role models for young women.


 The big picture

What are the job opportunities?

No matter who you talk to, everyone in the industry agrees that there
are many opportunities in the banking profession. You can work either
in the frontline or in head office positions. Within both of these areas,
there are many varied career options.

glossary
Transaction accounts are:
any account from which
funds can be paid to a thrid
Banks divide their products and services into separate business units. party on demand by the
Each business unit represents a different type of business and the account holder.

different people needed to work within it. Asset accumulation means:

looking at different types of
n Retail banking looks after transaction accounts, credit cards, investments such as shares,
mortgages, term deposits and loans for individuals and business property and managed
funds, so that your pool of
customers. money grows in value over a
period of time.
n Wealth management this is the investing arm of a bank and usually
Superannuation means:
consists of insurance, asset accumulation and all types of investing
a compulsory pension
including superannuation, share trading and managed funds. plan in Australia where
employers are required to
n Institutional banking also known as corporate banking, this area place a percentage of an
advises corporate and institutional customers about raising money employees salary into a
superannuation fund for
through listing on the stock market, buying and selling businesses, when they retire.
managing their cash and so on.


 Banking
glossary
Product development means:
devising, creating or
improving on a product and
bringing it to market.
10
Of course, this doesnt include all the people needed to actually run
the bank itself. A bank is a business like any other, and needs staff for
areas such as finance, marketing, IT, sales and human resources.
One of the ways to look at job opportunities is to look at it in terms of
where people work.
n Frontline
n Head office
n Overseas opportunities
Frontline
Frontline staff are the face of banking. They include tellers (known as
customer service officers), lending officers, call centre staff, mortgage
brokers and branch managers. Its all about customer service, which
has become a major strategic focus for a banking institutions. The
banking industry is scrutinised heavily in the media, oten in relation
to high fees and an impersonal approach to customers. Excellent
customer service is a banks way to negate this.
Its all about people. Theres nothing else no matter what
organisation you work for its all about people.
David Dunstan Branch Manager, St.George Bank
Head office
The engine room of a bank, otherwise known as the head office, is
where all the decisions of the bank are made. This is also where youll
find the senior management and support units such as marketing,
finance, IT and human resources. Credit unions, building societies and
mortgage lenders also need these units in-house as well, even if they
are not as large as banks.
Some of the areas of opportunity within the head office are:
n Human resources deals with the recruitment, training, retention,
development and management of a financial institutions staff.
This is a big job considering some big banks employ over 30 000
people!
n Marketing and communications this is an area in banking that is
growing in importance and usually includes product development,
strategy, advertising and public relations.
 The big picture

n Information technology as financial institutions are quick to take

up the latest technology, the IT department has to be innovative
in applying new technologies to meet the growing needs of the
business. IT departments look after online banking, websites, plus
all the internal systems which a banking organisation needs. There glossary
is a strong element of security as people want to make sure their
money is safe when they do their online banking and arent at risk Phishing is:
a way for hackers to
of phishing or other fraudulent activity. illegally obtain sensitive
information, like passwords
Senior management roles include the Chief Executive Officer, Director or account details, usually
Finance and Risk, Corporate Development Director and Performance through emails or instant
Accountability Director. Other senior positions may look after areas such messaging.

as research and statistics, monetary policy and resources management.

11
 Banking
detour
If you like the idea of working
overseas, check out Career
FAQs Going Global.
www.careerfaqs.com.au
12
Overseas opportunities
Working overseas is a highly viable option for those working in the
banking sector. Banking skills are transferable around the globe
and many financial institutions offer opportunities for staff to travel
overseas. Organisations such as Macquarie, ING, HSBC and the big
four banks all have offices around the globe.
The biggest destination for Australian banking professionals is
the United Kingdom. There are also opportunities in Hong Kong
and Dubai, as these two economies are experiencing strong
growth and have similar banking structures to Australia.
Matthew Gowan Senior Banking Manager, Hays Recruitment
Another growing trend for financial institutions is to send staff on
study trips overseas to learn about how businesses are conducted
elsewhere. This doesnt apply only to senior management, although
you do have to prove your commitment and achieve a level of success
in your career first.
Those who do work overseas typically find work easily when they
return home, with employers here in Australia valuing their experience
in foreign institutions.
 The big picture

How much can I earn?

Contrary to popular belief, working in banking is not about getting rich
quickly and retiring young. The typical starting salary for an entry level
position in banking is in the mid $30 000 range.

The following table shows the age, title and salaries of the banking
professionals interviewed in this book.

Type of Years in Years in

Age Position title Salary @ 2006
institution job industry
Service
18 Large bank 36 000 41 000 8 months 8 months
Consultant
Large credit
22 Team Coordinator 50 000 11 months 2.5
union
Manager,
25 Large bank 80 000 100 000 9 months 4
Business Support
Relationship Small foreign
26 35 000 40 000 <2 5
Officer bank
Customer Service 2 years 8
Late 20s Large bank 35 000 45 000 <8
Supervisor months
Late 20s Finance Analyst Large bank 40 000 70 000 2 years 3. 5
27 Risk Executive Large bank 65 000 80 000 2 months 2
Customer Loyalty Small financial
27 65 000 85 000 3 5
Manager institution
28 Branch Manager Large bank 60 000 110 000 1 9.5
Late 30s HR Consultant Large bank 70 000 + bonus 2.5 22.5
Regional Sales Non bank
39 70 000 200 000 1 3
Manager lender
Marketing Small credit
40 80 000 13 15
Manager union
Small credit
41 General Manager 48 000 14 14
union
Head of Personal
41 Financial Large bank 120 000 160 000 2 23
Services (Fiji)
Head of Large finance
46 200 000 + bonus 5.5 22
Investment organisation
Mobile Lending
51 Regional bank 100 000 + bonus 13 33
Manager

Career FAQs salary snapshot, 200607

find out
Many of the people interviewed in this book have found themselves more
moving up the corporate ladder very quickly, so opportunities do exist. See comparative starting
salaries of various
The money might not be there at the start, but managers who move up professions in Appendix 1.
to a regional level can earn six digits by the time they are in their 40s.

Want more quality career resources

from Career FAQs for FREE? Click here 13
 Banking

When you consider that the average graduate salary, according to

the previous table, is just over $40 000, banking is not amongst the
biggest money earner for young recruits. The advantage, however, is
that if you show initiative and a willingness to work hard early on, your
career is likely to enjoy a quick progression, even if youre not degree-
qualified, as most banks offer internal training and development
program to help attract and retain good quality staff.

Larger financial institutions are typically more competitive in salaries

than smaller organisations, except in the case of sales roles where
salaries are linked to their targets. Specialisation also helps to increase a
salary particularly if you have qualifications to match your specialisation.

Whats important to note is that the typical starting salary for the
banking sector, whether youre frontline or head office, is usually
around $34 000, whether you live in Tasmania or Sydney. Those
in sales roles, such as mobile lending, business development or
commercial development, will typically have a healthy bonus built into
their total package, which would make their salary much higher than
the ones listed in the previous table.

14
 Banking
glossary
Mutual means:
a financial institution whose
members are also its owners,
these are comprised of credit
unions and building societies.
fyi
The four pillars policy
contends that the big four
banks of Australia cannot
merge or be taken over.
16
Who are the main employers?
Most of the jobs in the banking sector are found in the banks
themselves, whether theyre Australian or foreign-owned. Australias
largest five banks employ over 33 per cent of the national financial
services workforce alone. Opportunities also exist with foreign-owned
banks, mutuals and non-bank institutions that are looking to expand
their presence in Australia. It doesnt matter where you get your start
in banking, because the skills you learn are easily transferable into
any banking organisation and all banking organisations are always on
the hunt for talented professionals.
The main banking employers in Australia can be split into the
following categories:
n the big banks
n regional banks
n credit unions and building societies
n foreign-owned banks
n non-bank lenders
n other financial institutions.
The big banks
There are 14 Australian-owned banks, which include regional banks.
The biggest of these are:
n ANZ
n Commonwealth Bank (CBA)
n National Australia Bank (NAB)
n Westpac
n St.George Bank
n Macquarie Bank.
The first four banks listed above are protected by the four pillars
policy, and have remained dominant in Australias banking sector as
a result. Theres no shortage of large banks in Australia, and these six
banks employ collectively over 156 000 people worldwide.
 The big picture

Regional banks
The remaining banks are usually known as regional banks.
These include:

n Adelaide Bank
n Bendigo Bank
n Bank of Queensland
n Suncorp Metway
n Elders Rural Bank.

Not wanting to sit in the shadows of their big brothers, the regional
banks have made headway in increasing their market share and
showing a more aggressive strategy. Bendigo Bank now has
407 branches around the country and the Bank of Queensland
claims its Australias fastest-growing bank.

Credit unions and building societies glossary

Building society means:
Credit unions and building societies, also known as mutuals, employ
an organisation which uses
11 000 people in Australia and have $50 billion in assets. 33 per cent money from its members as
of Australian residents have an account with a mutual, preferring a fund for lending money to
the personalised service and competitive pricing they offer. These members for the purchase
of homes.
organisations have transformed themselves from offering basic
banking services to elaborate and innovative services that are often
more competitive in pricing than their larger competitor. However,
because of their size, many mutuals have had to merge in order
to stay afloat. Twenty years ago there were over 500 mutuals in
Australia, today there are only 147. These vary in size, operating from
only one branch like the Croatian Community Credit Union, through to
the Greater Building Society, which operates 61 branches. Some other
large institutions include:

n Queensland Country Credit Union

n Defence Force Credit Union

n IMB Banking and Financial Services fyi

n Newcastle Permanent Building Society Most credit unions were
originally formed by an
n Pioneer Permanent Building Society industry or at some place
of employment. Today
n Heritage Building Society membership is open to
the public.
n Credit Union Australia.

17
 Banking

Foreign-owned banks
Australias foreign-owned banks can be split into large multinationals
and small branch-based banks. Currently there over 30 foreign-owned
banks operating in Australia. The biggest of these are:

n Citigroup n JPMorgan

n HSBC n BNP Parabas

n ING n Rabobank.

Most of the multinationals do not operate branches, although HSBC

does have 23. Citigroup, the largest banking group in the world, has
offices only in Sydney and Melbourne.

Small branch-based banks are more similar to credit unions and

building societies in terms of their size in Australia. These are foreign
subsidiary branches of larger corporations based abroad and include:

n Arab Bank n Bank of Cyprus

n Bank of China n Laiki Bank.

An advantage of working for an international bank is that they offer

the opportunity to network with overseas offices, improving your
chances of finding work abroad.

Non-bank lenders
John Symond really started something when he coined the phrase, At
Aussie well save you. Since the establishment of Aussie Home Loans
in 1992, the growth of non-bank lenders has offered Australians more
choice in their finance needs. Currently the list of non-bank financial
institutions includes:

n Aussie Home Loans

n RAMS Home Loans
n Wizard
n Mortgage Choice
n Virgin Money.

These organisations attract staff with a culture that is usually more

creative and innovative. They see themselves as revolutionaries who
are giving the banks a run for their money, basing their success on
offering customers better products and services.

18
 The big picture

Non-bank lenders are much smaller in size than the big banks, but
need talented people to continually improve. Working for a non-bank
lender means you have the chance to be a bigger fish in a smaller
pond.
find out
Other financial institutions more
For more information about
There are also opportunities for bankers outside of banking. People financial institutions in
are now more willing to take control of their own finances, using Australia go to
www.apra.gov.au
websites and independent sources to make up their own minds. As
a result, there is a plethora of resources available that need banking
professionals to independently research and analyse the financial
products. Some of these include:

n independent finance research

CANNEX

www.infochoice.com.au

Australian Consumers Association

n magazines

Money magazine and website

Personal Finance

Shares

n newspapers

n TV

n radio.

If you have a flair for writing or communicating, there is a demand for

finance professionals who can translate the complexities of finance
in a variety of mediums including radio, TV and print. Noel Whittaker, glossary
a financial planner, has now published 13 books, writes columns Blog means:
appearing in five newspapers and has a weekly broadcast on 50 radio a website where a blogger
stations. The Internet also offers its own opportunities for finance provides commentary or
professionals, with many having online publications and informative information. The word is
derived from a contraction of
websites. You can also start your own blog, which can offer a modest the words web and log.
income for those who attract a big following.

19
 Banking

What are employers looking for?

Banking institutions are always on the lookout for bright new
talent in particular, individuals who are good with people, show
enthusiasm and are quick to adapt to a fast-changing environment.
What qualifications and experience are needed depends upon the
area where you want to work.

Typically, you dont need qualifications to work in customer service

or in a branch, but you do need to demonstrate an ability to work
with people. If you dont have any experience, a vivacious personality
may be enough to get your foot in the door. These days, all customer
service roles have an inherent element of sales within them. Therefore
any experience in retail or sales, even if it is in fast food, is highly
regarded. The ability to communicate confidently to customers and
achieve sales targets is invaluable in todays banking sector.

Were always looking for people with sales experience who can
contribute to developing our culture. We like people who are
bubbly! You also need to focus on the community and the people
in it.
Kim Morris Marketing Manager, Horizon Credit Union

Roles in the head office of a bank or similar organisation are typically

given to people with relevant qualifications and/or experience.
Graduate programs are a popular way to enter the industry, with all
the big banks running some sort of graduate intake. But thats not the
only way to get into head office.

Branch managers have keen eyes to identify new talent. If you show
initiative, drive and flexibility, even in an entry-level branch role, you
can find yourself going into development programs and have quick
promotions come your way.

I remember the last question they asked me, Why do you think
you should be successful in obtaining this job? I said, Im going
to work as hard as I possibly can to make sure that I succeed in
every aspect. They told me afterwards that this was one of the
main points that made them choose me for the role.
Lesley Walker Team Leader, Defcredit

20
 The big picture

We spoke to five employers from different banking institutions two

who work at a frontline level and three who work in head office. We
asked about what they look for when recruiting staff, what kinds of
jobs are in demand and how they go about recruiting.

n David Dunstan St.George Bank

n Eliza Brabyn Bank of Queensland

n Mark Johnson Orange Credit Union

n Craig Williams Citigroup

n Alice Del Vecchio Aussie Home Loans

21
 Banking

David Dunstan St.George Bank

David has been the manger at the
Ballarat branch of St.George Bank for
five years, where he is in charge of
13 employees. Before that he spent
26 years with the Commonwealth Bank,
just two blocks down the road. He has
learnt that people skills are essential
in the frontline of the banking business
and that starting out in a branch can be
a great launching pad for a career in the
rest of St.George.

q&a
What do you look for when hiring people?
Culture is a very important aspect and it cannot be understated. Staff
members have to be able to engage customers and therefore fit in with
our organisation. Im looking for people who are not timid, and who are
prepared to discuss one-on-one with clients what their needs are.

Are there any specific skills needed?

Strong verbal skills, eye contact and an ability to engage customers.
The ability to learn quickly and soak up sufficient product knowledge
is also very important, as clients gain a lot of confidence in a staff
member being knowledgeable and accurate in their dealings. That is
my main focus, as I recruit mainly for customer service officer roles.

What jobs are in demand?

I would say almost all jobs are in demand. At my level there is always
a demand for good customer service people, including tellers, who
are now called Customer Service Officers (CSOs). CSOs deal with
customers and are often the frontline, therefore it is important that
they have a very pleasant and welcoming disposition. Thats part of the
St.George culture.

Is there a lot of opportunity for career progression?

Absolutely. I have seen most of my Customer Service Officers here
at St.George progress through the organisation. Its a foot in the
door and many see it that way as well. If youre keen, committed and
possess a positive attitude, the banking industry has much to offer. In
particular if youre willing to move, endless opportunities abound.

What is a possible development path?

The Customer Service Officer role is the usual entry point.

22
 The big picture

A new CSO goes through an intensive induction course where they are
trained in the necessary skills needed in the branches. From there you
can then develop into a Customer Service Specialist. They discuss the
needs of customers in a lot more detail to make sure clients get the
right products and services. From there they can move up to Assistant
Branch Manager or Branch Manager.

What is the best way to start your career? Head office or

in a branch?
It depends where you want to get to and what your ambitions are.
For some roles head office level may be the best place to start, but
the branch is a great place to start for anyone wanting to develop a
career in retail banking. Just look at St.George CEO Gail Kelly! In all the
larger banks, not just the big four but also in the larger regional banks
like St.George, there are opportunities because there are many more
branches. There are also different departments and specialist areas
in the capital cities, so it does cater for the opportunity to transfer
internally within an organisation, which sometimes does not exist in
smaller organisations.

How do you recruit people?

Initially, positions are advertised internally, then externally if we
cannot fill the position. Our positions are advertised on the
careers@stgeorge website. Also people recommend family
and friends to the organisation, which has proven to be an excellent
way of recruiting people.

What makes a rsum stand out?

Im mainly looking for engagement areas. Im looking for examples
where candidates engaged with and dealt with customers in
an efficient, timely and successful manner, where the situation
resulted in a win for the customer as well as the colleague and the
organisation.

What is the best aspect of working in banking?

Ive been in it for 32 years and I certainly would not have stayed this
long if I didnt enjoy the work. Why do a job if you dont like it? It is a
great challenge to be able to influence staff and customers positively.
It is also a great experience to try and offer people the best service
and solutions you can, so that they benefit financially.

How has banking changed?

Where do you start? I joined the CBA in 1975. There seemed to be
only a passbook account, a savings investment passbook account
and a home loan. The telling platform was fairly basic computer-wise
compared to todays standards. Everything changed dramatically in
1981 with the advent of the ATM. It is certainly a challenge to keep
up with all the products and services we provide, especially with the
continual interest rate changes.

23
 Banking

Eliza Brabyn Bank of Queensland

Eliza has a background in recruitment and was the HR Recruitment
Manager for the Bank of Queensland for two years before moving
into her current role six months ago. During her time as Recruitment
Manager she started the banks graduate program and is now an
Executive Manager in the business banking division.

q&a
What are you looking for when you employ people?
Attitude, culture fit and previous relevant experience. Culture fit with an
organisation is critical regardless of skill level and suitability. Depending
on the position, other factors will impact the decision. For example, if it
is a sales-related role, established networks are looked upon favourably
and technical skills are looked for in specialist positions.

What are job opportunities like in banking right now?

There are many opportunities in the market for candidates with
experience. I believe the market is experiencing a candidate shortage
right now, so quality candidates will have a choice of jobs. The
marketing department would be an exception to this.

Are there any specialties in particular demand for

your business?
Proven sales people and also strong credit analysts with previous
banking experience.

How has banking changed?

Its obviously very competitive in terms of finding, attracting and
retaining good staff, particularly good sales staff. We are always
looking for good sales people. The banking industry is so competitive
that getting the good people on board is always going to be difficult.

Whats the best way to retain staff?

Recognition. We do a lot of work here focusing on recognition and
reward. We look at remuneration and benefits. The focus is to be healthy,
wealthy and happy. We offer corporate gym memberships, discounts
and other similar initiatives. As a growing brand were getting better at
attracting people. Candidates see us as offering growth opportunities.

What makes someone stand out?

Sales ability, customer service skills and the way they interact with
the group. They are frontline staff so they need to be well presented
and be able to work well in a team environment.

24
 The big picture

What would you suggest to people wanting to break into

banking?
Try to gain work experience whilst you are studying if possible and
establish networks with those in the industry, as they are likely to hear
of opportunities. Graduate programs are competitive but a place on
one will be invaluable to your career.
Gain varied experience in different divisions where possible. Picking
up more transferable skills will in turn make you more marketable to
future employers.

Do you have a graduate recruitment program?

Yes, we have a 12-month program where graduates will gain work
experience in various parts of the bank, depending on what division
they are initially selected for, such as business banking, retail or finance.
At the end of the program the graduates will be placed into a role
commensurate with their experience. All graduates have a mentor
assigned to them for the 12-month duration.

How many graduates apply each year?

2006 was the first year we offered a graduate program and more than
300 graduates applied.

How do you select graduates?

We undertake a series of interviews and assessment centres
conducted by HR and the business.

25
 Banking

Mark Johnson Orange Credit Union

As the HR and Training manager at the Orange Credit Union, Mark
looks after the recruiting of staff, induction, training programs,
ongoing training and making sure all employees are compliant with
the necessary regulations.

The Orange Credit Union is a community-based credit union, which

services the City of Orange and Carbonne Council areas. From humble
beginnings in 1964, it now has 18 500 members, an asset base of
$87 million and 35 staff members.

q&a
What do you look for when hiring?
The first thing I look for is attitude. You can teach anything, depending
on the level. If were looking for customer service, we dont require
any qualifications. Well provide all the necessary training to make
sure they are compliant.

What attributes are important to work in banking?

You need to be switched on to pick up signals that people are giving
out. If someone comes in and asks for a bank cheque to give to the
NRMA, I would be very disappointed if that customer service person
didnt try to tell them about the insurance we offer. They have to be
perceptive to clients needs. People arent going to come in with a sign
on their head saying, I need car insurance.

Is experience in banking an advantage?

Experience is good, but sometimes that can bring baggage with it. If
we employ someone from another financial organisation youd think,
You beauty theyre going to hit the ground running, but they hit the
ground running the way they used to do things, not the way we do. We
dont always want someone with a banking background. It can be an
advantage if they start anew so we can show them the way we do things.

What about culture?

This is a big part of it. Its important to have a good fit and to get along
with your co-workers. I think the people who have come through in
the last five years dont give a damn about culture. People in their
early 20s just come in because this is a job. Theyre always looking for
something bigger and better. Culture isnt important to them.

How is working for the Orange Credit Union different from

working in a big bank?
To start off, were only one branch, so what you see is what you get. I
worked for the CBA for 10 years and worked in seven branches.

26
 The big picture

If you work here, youll be working in the same place with the same
people. Ive got people who have worked here for 30 years. We dont
offer the ability to move around.

What jobs are in demand?

If youre a very popular lending agent, its more than likely youll have
people follow you who will bring their loans and banking accounts as
well. Gun salespeople are also very much in demand. Its all about glossary
selling in the banking industry now. When I first joined no-one thought
about sales, but nowadays if youre the gun salesperson you can bring Gun salespeople means:
in non-interest income, which consists of commissions and insurance great salespeople.
sales. They are the two people I see as most in demand.

Are sales important to your workplace?

Its becoming that way. Credit unions have always been notoriously
a little bit slower than the banks in changing to a sales culture.
But thats changing and were employing more people with a sales
background. Youve got to make the customers happy but youve got
to service their needs too, and thats where sales come in.

What are job opportunities like in banking right now?

The banks seem to be going back to their branch structure again,
and so the opportunities are coming back to customer service.
Opportunities are also arising with new banks, such as Bendigo Bank,
that are moving into regional areas and opening branches.

How has banking changed?

Technology has changed it a lot and therefore you dont have to do
everything face to face anymore. Banks are staying open for longer
and its all about meeting peoples needs. The attitude of banks used
to be You come to us. Now its What time do you want us to be
here? Financial institutions are really going out of their way to keep
customers happy.

Whats the best thing about working in banking?

You can go anywhere and find a job. You could work for us and then
work for any credit union or bank in Sydney, and its more than likely that
youll be able to get a job straightaway. Building societies, mortgage
brokers and finance companies will all take someone on whos been in
the industry. Again, it depends on what specific job youre after. Its the
same anywhere in the world. Ive got friends who went to England and fyi
got jobs straight away as finance brokers.
A bank in Michigan, USA,
Are there any negatives to working for credit unions? has been running a decade-
old program offering guns
From my perspective there is limited flexibility and limited choices for instead of interest payments
young people to move up with smaller credit unions. We get beaten a to its new customers.
fair bit on pay as well.

27
 Banking

Craig Williams Citigroup

Craig has worked for Citigroup for 10 months, but has been in
the banking industry for over 12 years. His role focuses on strategic
resourcing, which involves looking at how to attract, retain and engage
employees.

q&a
What do you look for when hiring people?
For a start, we look for people who are interested in joining the
financial services industry. Its forever changing and very dynamic. This
is driven by factors such as technology, regulation and competition.
Then we look for people who are customer focused. We are placing
increasing importance on the experience potential employees have
with customers its at the forefront of a lot of what were doing.

Are there any particular attributes you look for?

Our company has very strong values. In particular we are driven by what
we call our shared responsibilities a responsibility to our customers,
a responsibility to each other and a responsibility to our franchise.
As part of this we look for people who can demonstrate teamwork,
have respect and consideration for others, who are focused on doing
the right thing and accept accountability for failures.

What is the workplace culture like at Citigroup?

Its a very creative one. People are pretty confident to share their
ideas and approach new ways of doing things. Our culture encourages
that. We dont have the market recognition of the four big banks, so
theres more room to try new ways of doing things. We have the ability
to leverage off what the company is doing internationally, so we can
bring a lot of different ideas from around the globe.

What types of jobs are in demand?

At the moment the industry is facing strong growth in wealth
management, so we are seeing that translate to increased
opportunities internally. Anything within wealth management, such as
personal banking and financial planning, is in demand.

How can job seekers break into banking?

Keep an eye on whats going on around you. Coming to interviews
with good basic knowledge of current issues and trends is a good
start. Another way to build financial services knowledge is to enrol in
a basic course there are many courses available which provide a
good overview of financial services. Aside from that, many large banks
and financial services companies operate their own recruitment centre
on their website.

28
 The big picture

It sounds like its a buyers market!

Yes, that is absolutely true. We have taken a view that we are a great
employer and we need to get our name out there and talk to a lot
more people so candidates can decide whether wed be right for them
or not. We are trying more and more to not have a reactionary process,
so that we know where candidates are and where they are looking. Its
a candidates market and organisations have to be prepared to sell the
opportunity as much as they can.

What do you think is best thing about working in banking?

The changes. There is never a same day in the financial services
industry. People are in the business of developing new products for
their customers. This means constant change. The regulators have
also forced our industry to change.

Do you have a graduate recruitment program?

No, we have a management association program. Its a two-
year program for those who have graduated and have two years
postgraduate experience. We take up to eight people a year and the
program rotates recruits across the entire business. This includes the
opportunity to get posted to Asia as well.

How do you select who gets in?

Once they apply it goes from rsum screening through to a telephone
interview. Then they go through an assessment centre and a few
interviews with the leadership team. Its a fairly in-depth process that
goes for about eight or nine steps.

What are the traditional ways of recruiting people?

In the past weve gone through a recruitment agency, but were
changing that. Career mobility is one of the most critical components
of our strategy. Globally weve looked at retaining people so they
dont leave us to work overseas. Were launching a new career website
and are looking at new ways to attract people.

29
 Banking

Alice Del Vecchio Aussie Home Loans

Alice is the Senior Head of Mortgage
Alliances and Distribution for Aussie.
Shes worked there for three years, after
14 years working throughout Westpac.
She works in Aussies head office where
she manages the Aussie brand, the call
centre, sales projects, franchising and
relationships with its lenders.

q&a
What do you look for when hiring people?
Above and beyond the formal qualifications and/or demonstrated
experience required for any role, we look for a good attitude, work
ethic and a commitment to achieve. Given Aussie has a relatively lean
head office structure, the need to work independently, whilst fitting
in, leveraging and working with the existing broader team, is critical.
Personality and relationship skills complete the requirements.

What types of jobs are in demand? What specialties are you

most interested in for your business?
This business requires an ongoing broad range of specialist skills.
Sales analysis, product management, credit and sales operations and
relationship management are always in demand.
Were looking for anyone who can demonstrate specialist knowledge,
but who has also actually sold mortgages and faced customers. Those
who understand the experiences and expectations of customers, while
at the same time empathising directly with challenges of the sales
force, have become even more important to the business.

What are job opportunities like right now?

The mortgage broking environment is a growing industry, with
opportunities in sales and sales management always strong.

How do you suggest people break into banking?

Tertiary qualifications in commerce- and business-related disciplines
will always help. Marketing and finance specialties will also set a
candidate up for the broad cross-section of work that they will face in
this industry.
I would always suggest that people wanting to break into this industry
shouldnt be afraid to start in a customer-facing sales role to develop
credit, product and relationship skills. Whatever the next move may
be, these disciplines will only add credibility and depth to the skills set.

30
 The big picture

Do you know of a banking myth? Whats the reality?

Within any industry there will be rogues who receive negative
publicity and put a mark on the overall industry. The reality is that
in this environment there are core industry bodies, disciplines,
infrastructure and a firm ongoing push for greater regulation.

What is unique about Aussie?

There is such strong credibility for the Aussie brand that clearly
differentiates it from competitors. Most consumers are aware of the
significant changes John Symond and Aussie made to the industry
almost 15 years ago by forcing banks to offer more competitive home
loan interest rates.

How is it different to the larger banks?

Its much more of a family culture than where Ive worked before.
I hate to say that, because it has dowdy connotations, but its not
dowdy at all. I came from Westpac, and I notice the ability to move
things quickly through Aussie.
Its very open. You can knock on John Symonds door and talk to him
at any time. And thats extremely different to any other environment,
where you just dont have that access to the core people. The
downside is that you dont always have as many resources as you
would like to help get things done.

What is the culture like?

Our organisational culture is one of hard work and innovation, within
an effective concentrated environment. Whilst the size of the company
allows quick movement when required, the reality is that nothing is
done at Aussie unless it has been thoroughly assessed.

Do you have a special program for graduates?

We dont have a formal graduate program. Where we do take on
graduates into the business, our selection process is completed on
the basis of the ongoing business needs. When we do hire, we identify
and plan developmental opportunities for the person to ensure that
all parties are effectively growing.

What do you feel young people should know about banking?

At the end of the day, the banking, mortgage broking and finance
industry is extremely incestuous. People will regularly move within
and across companies. Therefore, reputation, work ethic and integrity
become core if you are looking to develop a successful career in this
industry. Reputation is everything and there are no short cuts here.

How has banking changed?

Over the last five years there has been a clear acceptance by
customers and traditional financial institutions that mortgage brokers
provide customers with choice and clear value-add service. The
flow-on effects of this acceptance, such as broader growth and more
innovative products has allowed the industry to flourish.

31
 Banking

What support organisations exist?

There are a number of organisations out there working to support
the banking sector. Some help those working in banking and finance,
while others are there to represent banks and financial organisations.
As well as offering education and information about working within
the banking industry, these organisations can also provide networking
opportunities and career advice.

Financial Services Institute of Australasia

The Financial Services Institute of Australasia (FINSIA) is a new
organisation, which resulted from the merger of the Securities Institute
of Australia and the Australian Institute of Banking and Finance.
Its a non-profit organisation with over 20 000 members as well as
19 000 students. They offer a wide range of courses for those seeking a
career in the finance industry, including a diploma of financial services
(banking) and a number of courses focused on mortgages.

Finance Sector Union

The Finance Sector Union (FSU) represents those who work in the
finance industry, including banking, insurance, broking, financial
planning, funds management and anything else remotely to do with
finance. Its aim is to provide better working conditions for its 60 000
members as well as to try and secure the jobs of its members. It also
focuses on career and education opportunities to help members
advance themselves.

Women in Finance
Women in Finance (WIF) is a non-profit association for professional
women who work in the finance and banking industry. It offers career
and personal development as well as networking opportunities.
It started in Queensland in 2000 and now has branches in New
South Wales, Victoria and Western Australia. It hosts entertaining
and educational events and gives members opportunities to build
relationships with other professional women in their industry.

32
 The big picture

Financial Services Education

Agency Australia
The Financial Services Education Agency Australia (FSEAA) is an
industry-owned organisation that focuses on providing education
and training advice in financial services. It conducts research and
offers information about the finance industry in Australia, as well as
descriptions and outlooks for careers in banking and finance. It also
runs a register of accredited education of financial services, to help
those looking for valid qualifications in various areas of finance
and banking.

Australian Bankers Association

The Australian Bankers Association (ABA) is an industry body created
to promote the interests of banks in Australia. It lobbies government
regarding issues of policy and regulation which affect the finance
and banking sector. It represents 26 banks in Australia and offers fact
sheets about the banking industry and personal finance. The website
offers education resources on financial literacy and other current
issues that affect banks today and it also informs the public of any
find out
security issues, such as hoax emails.
more
FINSIA
Abacus www.finsia.edu.au
FSU
Abacus is the industry body representing Australias credit unions and www.fsunion.org.au
building societies by promoting the benefits of using these financial
Women in Finance
institutions. It represents credit unions and building societies to www.womeninfinance.com.au
federal and state governments, to regulators, such as APRA, and to FSEAA
both industry and consumer groups. Its website is useful for learning www.fseaa.com.au
about building societies and credit unions and all relevant news and ABA
www.bankers.asn.au
current issues facing the industry. Similar to the ABA, Abacus is the
representative body for credit unions and building societies that lobbies Abacus
www.abacus.org.au
federal and state government on regulatory and legislative issues.

33
 see the possibilities
NAB Graduate Program

nab.com.au/graduatecareers

2007 National Australia Bank Limited ABN 12 004 044 937 29739 (03/07)
 Insider info
What jobs could I do?
Banking jobs are diverse and include both management positions
as well as customer service. Far from being mundane and static,
jobs in the financial sector offer the opportunity for movement
and advancement between branches and departments, as well as
overseas. Its not unheard of for a person to start out in a customer
service position and end up as the manager or even CEO of a bank.
Here is a list of just a few different jobs that exist in banking:

n service consultant

n relationship officer

n customer service supervisor

n e-commerce team coordinator

n new lending team leader

n finance analyst and sector manager

n manager, client and risk analyst

n customer loyalty and value manager

Want more quality career resources

from Career FAQs for FREE? Click here 35
 Banking

branch manager
n

human resources consultant

n

general manager, community credit union

n

manager, business support

n

mobile lending manager

n

regional sales manager

n

rural state manager

n

marketing manager, regional credit union

n

general manager, marketing

n

head of personal financial services

n

head of investment strategy

n

deputy editor.
n

36
 Insider info

What do real people say about

their jobs?
Now we can have a closer look at the people who are working in
banking, what role they perform, how much they earn and their
thoughts on the industry.

Alana Foster Service Consultant, ANZ cv part-time waitress

>> service consultant
Alana joined ANZ after finishing her HSC,
hoping to embark on a career in banking.
She currently works in a small regional
branch with two other employees,
something that has given her the
opportunity to develop on-the-job skills
quickly. She has been exposed to the
key aspects of running a branch even
though she joined only eight months
ago. She is also studying part time to
help accelerate her career within ANZ.

q&a
What do you do in your current job?
All the sorts of things that relate to customer service: transactions,
ATM balancing and maintenance, account opening, solving customers
problems and spotting and referring customer needs, such as
insurance or loans.

Whats your work environment like?

I work in a small branch and we therefore need to be very versatile
and have the ability to complete a wide range of tasks. We need to
be able to work together to ensure the smooth running and success
of the branch by providing customers with superior service while
meeting their needs.

What do you like most about your job?

Working in a small branch provides me with the ability to be involved
with a variety of different aspects involved with the running of a find out
branch. I enjoy this diversity as it makes each day different, allows me
to broaden my knowledge and provides me with many challenges.
more
For more information about
Its very rewarding to see how happy customers are with the service careers with ANZ, go to
Ive provided. Working in a small town also allows me to develop www.anz.com.au/aus/
customer relationships, which I see as an important part of providing careers/default.asp
personalised service.

37
 Banking

What do you like least?

Unhappy customers.

What is the salary package?

Service consultants can earn anywhere in the range of 36K to 41K per
annum.

What aspects of banking interest you?

I am really interested in customer service. Its fascinating how banking
products and services can provide the answer or solution to a range
of customer needs. I like the challenge of trying to provide the best
service to customers while anticipating their future needs.

Thursday
Monday
full cash count Study
ATM balance and
 et up teller area Netball training
S
Check emails
ls Friday
Answer phone cal
ers ATM Balance
S
 erv e cus tom a
ATM Set up teller are
Prepare money for
h cle arance Check emails
P repare for cas
at end of day Answer phones
B  ala nce cas h
Serve customers
l tidy up
Filing and genera
Tuesday at end of day
 tudy course! Balance cash
S
Go for a walk
Weekend
Play netball
Wednesday Socialise with fri
ends
ATM balance
a Study
Set up teller are Exercise
k em ails

C hec Rest and relax!
A  nswer phones
Serve customers

How is your lifework balance?

My job allows me to achieve my desired lifework balance. I work
three days a week and fit full-time study into the other two days. I
found it difficult at the beginning, trying to juggle work and study, and
found it stressful when I had assignments due. Im now a lot better at
managing my time more effectively.

38
 Insider info

What do you wish someone had told you about banking

before you started?
That it is very sales orientated, challenging and that there are
opportunities to progress and specialise in different areas.

Do you have specific qualifications?

I am studying a Bachelor of Commerce and Bachelor of Business
(Administrative Management) externally through the University of
South Australia.

What have you learnt on the job?

On-the-job experience has enabled me to develop better
communication and problem-solving skills. I am able to spot customers
needs and refer these customers to the appropriate specialist. These
skills are essential. I am also finding that some of the skills I am picking
up from my job also apply to my study and vice versa.

What do you think people starting out in banking need to know?

It is challenging and unlimited. There are always opportunities to
improve your skills and advance further. in
Where to from here? brief
Service Consultant
In the future, I would like to be able to gain more knowledge and
qualifications in order to progress further. In particular, I would like $$$  942K
3
quals currently studying
to become involved with lending, as this is an area of banking that
hrs/wk 40
interests me.
lifework s uccessful
What is your life motto? and happy
flexibility 8/10
To be happy and succeed, to take on lifes challenges positively and to
achieve a healthy balance.

39
 Banking
cv work experience,
accounting firm >>
pharmacy sales assistant
>> service consultant
fyi
The Aboriginal Employment
Strategy was started in
Moree by Dick Estens over
a decade ago. With strong
partnerships with corporate
Australia, the Strategy is set
up to help young Aborigines
find work and plan their
future career path.
40
Emma McDonald Service Consultant,
ANZ, Moree
At only 19 years old, Emma is already
forging a successful career in banking.
She started working at the ANZ branch
in Moree three years ago while still
studying at school as part of a school-
based traineeship organised by the
Aboriginal Employment Strategy.
Emma started work in her full-time
position as Service Consultant six
months ago.
q&a
How did you become involved with the Aboriginal
Employment Strategy program?
When I was at school in year 10 one of my teachers asked all of us in
the grade if we were interested in a traineeship. I was just starting in
a new school and was looking for a new job, so I applied because I
thought it would be a good opportunity.
How many people were in the program?
I was the first person to complete the program at the ANZ branch in
Moree.
What is your opinion of the Aboriginal Education Strategy
program?
It has definitely been very beneficial for me. I think it gives school
kids a good understanding of the workplace so theyre not just going
out there after school and wondering what theyre going to do. Its
definitely a really good opportunity for anyone who wants some
experience in the workplace as youre getting paid while youre being
trained.
What did you have to do to apply for the traineeship?
It was pretty much the same process as applying for a normal job with
an interview with the bank. There was also a lot of communication
between the bank and my teachers at school. I had to submit a rsum
and also an application letter which was new to me, but I had a lot of
practice at school with this type of thing and also had help from my
parents and teachers.
 Insider info

What type of position did you initially hold at ANZ?

I started working for the bank as part of the program while I was still
at school in years 11 and 12. We had to do a minimum of 1400 hours
on-the-job training, so I was working approximately eight hours a
week on Wednesday and Thursday afternoons for two years as well as
working full time during school holidays.

How did you become a service consultant?

After I finished the traineeship, two girls left the bank at Moree and I
was offered a part-time job. They left the position open for a couple
of months while I finished studying at school. I was then working
approximately 20 hours per week up until last November when
another girl left and I became the full-time Service Consultant.

Do you have any plans to do further study in the future?

After I finished year 12 I was thinking about doing a university course
externally. I havent started that yet but I will look into studying
something related to finance or commerce in the future.

Will ANZ support any further study?

Ive found out that if I decide to undertake a course and pass, ANZ will
reimburse all my fees. So my plan will be to continue to work at the
bank while completing university part time through correspondence.

What is your work environment like?

Moree is a medium-sized branch with approximately 10 people,
including three tellers and two sales consultants. Were relatively
small because were a country town, but it means that its easy to get
to know everyone. And because I knew everyone from my traineeship,
it was easy to adapt to the workplace straight after school.

What are your responsibilities as a Service Consultant?

I am Teller 1, so I hold the boat for the bulk of the cash and refer
customers to sales consultants. I am Tier 2 accredited which means
that I can give advice to customers and recently have been learning
to open accounts and basically solve customers problems and
complaints. I also have ATM and other general duties.

What do you like most about your job?

I enjoy communicating with the customers. Most locals know me
because Ive been here since such a young age. Its a nice feeling to
have customers know your name, and in the same way I get to know
their names too.

Were you previously interested in a job in banking and

maths?
At school I completed a number of maths-based subjects, but before
I started the program I wanted to be an accountant. When I found out
about this program I initially saw it as a way to get a position in the
finance industry.

41
 Banking

What are your career aspirations?

Im not really sure what Im aiming to do, although Ive changed my
mind about being an accountant. At the moment I would like to stay in
the bank for a while and work my way up to become a sales consultant
to be able to help customers more thoroughly and to be able to do
more complex tasks.

Do you think the skills youve gained at the bank will help
you in the future?
They will definitely help me. We have many customers who talk to us
about what they need to do with their accounts, and sometimes we
do have to refer them on to others who can help them with specific
financial knowledge. I think with a bit more training in a few more
years I would know what financial advice to recommend for particular
situations. While completing the traineeship I was studying Business
Services at school, and working at ANZ also enabled me to complete
a Certificate 3 in Business Administration which was part of the
traineeship.

Does your job offer you a good lifework balance?

Definitely. By the time I get home at 5.00 pm I either play sport or
hang out with friends.

Does your job offer much flexibility?

in
brief If I have an appointment, or theres something I really need to do and
I ask for some time off, thats fine. Theyve always been good in that
Service Consultant
way.
$$$ 36K
quals HSC, Tier 2 Do you have any advice for people interested in a career in
Accreditation, Cert 3 banking?
in Business Admin
Talk to your school about traineeships and approach the banks to find
hrs/wk 38
lifework very good
out what opportunities exist. Programs like the one I completed lead
flexibility good
to further things in the future and banks offer a great opportunity to
work your way up into higher positions.

42
 Insider info

Stefanos Soulidis Relationship Officer, cv chef, retail bakery >>

Bank of Cyprus customer service, fast food
outlet >> customer service,
Stefanos has worked in his current job
bank >> relationship officer
at the Bank of Cyprus in Melbourne for
almost two years. His previous work at
the Commonwealth Bank helped him to
get the job, as did his ability to speak the
language. He has five years experience in
banking, and says that one of the biggest
differences between the two banks he has
worked for is the volume of clients that
walk through the door on a daily basis.

q&a
What do you do in your job?
You would think that a relationship manager works in relationships.
Actually, what I do is mostly administrative work though I do get
to train new staff and help out the customer service manager from
time to time. I also organise settlements of properties, which means
I speak to clients and others about settling properties that are
mortgaged with us.
My other role is to help the branch manager with the administration
of commercial and home loans that the bank approves. I also verify
branch reports of all the transactions from the previous day. It is really
important to make sure that the bank records are kept up to date.

What are the job opportunities for relationship officers?

Relationship officers can work in banks, for finance brokers, insurance
brokers, accounting firms or bookkeeping firms. They can also work in
any customer service sector, such as an airport or call centre. MYTH
What do you like most about your job?
customers are
I am very proud to be associated with a successful foreign bank that treated like numbers
has a good history and an equally outstanding reputation in the
by banks
community. I have had jobs in the past that were intolerable to the
point where I felt sick. But at the Bank of Cyprus, I work with people Financial institutions of
that make the job very enjoyable. all sizes are now more
focused on providing
What do you like least? excellent customer
fact

The least likeable aspect of my job is the pressure of selling and the service. Theres a lot of
choice out there. If youre
fear of customers attacking me verbally when things dont go their
not happy, change!
way. The banking industry is definitely not for the softhearted.

43
 Banking

How important is on-the-job experience?

You may be the most intelligent individual academically, but unless
you are put in the high-pressured position of tackling tasks with a
hands-on approach, it is very difficult to pick up and maintain relevant
procedures and information.

8.30 am Open branch and do security checks.

Gather daily reports, read and respond
to emails
10.00 am Schedule appointments for branch clients
with manager
Organise documents for the head office
settlements section
Noon Lunch
1.00 pm Advise any clients of successful
settlements
2.00 pm Send out promotional material about new
home loan specials
3.00 pm Contact accountants to get financials for
loan application request
4.00 pm Close branch doors
Continue to work on loan applications
and requests
5.00 pm Make sure all lights are off and doors are
shut properly
Evening Play indoor soccer and visit sister
and nephews

What areas of banking interest you most?

I have always had an interest in the lending aspect of banking. I like
the way property developers make huge profits by buying and selling.
One day I hope to work in Europe.

What are the current job opportunities in banking?

Banks in general have a high turnover of staff, so theyre always
on a constant lookout to hire young, up-and-coming and talented
individuals. Job search websites are full of advertisements looking for
good trustworthy people to join their teams. Dont be fooled though:
banking can be stressful and its lots of hard work. In fact, this is
probably a big factor in the high turnover.

44
 Insider info

What do you wish someone had told you about banking

before you started?
I already know that for anything you do in life, you must give 100
per cent. There is no point accepting a challenge and not giving your
utmost attention to achieve the goals you set out for yourself. That
being said, I would like to tell individuals looking for employment
within the banking industry that they must be prepared to work hard
under pressure and in a fast-paced environment. in
What are your plans for the future?
brief
Relationship Manager
I hope to gain employment in one of Europes lucrative markets
preferably the Hellenic Republic and/or Cyprus.
$$$ 3540K
quals on-the-job
Opportunities for overseas employment are very limited without experience
having overseas contacts. Thats not to say there arent jobs out hrs/wk 40+
there though. Working in a Hellenic bank, I have made many banking lifework  eekdays = work;
w
w/ends = family
contacts within Europe. Knowing the language fluently also plays a
flexibility 89/10
very big part when considering an applicant.

45
 Banking

cv waitress >> piano Natalie Podreka Customer Service

accompanist >> sales Supervisor, Bendigo Bank
and service consultant
Natalie had spent some time in the
>> assistant manager >>
banking industry but was disheartened
customer service officer
by the long hours and stressful sales
>> customer service
targets. After moving to Melbourne
supervisor with her partner, she heard about an
opportunity to work for Bendigo Bank
and decided to try it out. Nearly three
years later shes very happy in her role.
As customer service supervisor, Natalie
enjoys the service aspect of the job and
relishes the culture of the bank.

q&a
What do you do in your current job?
I help customers with their financial needs. I answer any questions
they have, provide information about our products and services and
help them identify what banking products or services they need. I
open and process applications for loans and accounts. Part of my job
involves coaching and training staff, ensuring all policies are followed,
as well as the day-to-day job of performing transactions and balancing
the cash.

Whats your work environment like?

I work in a small branch consisting of five staff members. Our
branch is a part of a community-owned franchise of Bendigo Bank.
Our branch employs locals and retains local profits, a portion of
which goes back into the local community by way of donations and
sponsorship. We are also governed by a local board of directors,
made up entirely of local residents, who are committed to enhancing
services to the community.

What do you like most about your job?

I take more pride in my work now than ever before because I know
that I am making a difference. I know that the people in the community
benefit, not only by having a bank in their local shopping area but
also by receiving a portion of our profits by way of donations and
sponsorship.

What do you like least?

Working with cash it can be a bit nerve-racking sometimes.

46
 Insider info

What is the salary package?

As a supervisor you can earn between $35 000 and $45 000 per
annum, depending on which bank you work for. Some of the banks
also offer extras such as performance pay or staff share grants.

What aspects of the industry interest you in particular?

The service aspect. Its nice to get to know your customers and help
them achieve their goals. There is a greater focus on helping our
customers become successful and achieve their goals, rather than just
selling a product thats not really needed just to reach a sales target.

fe,
k, open sa
and ala rm chec
ty check
ri
ork, secu ash stock
Get to w t c ationary
8.30 am 
il b a g a n d c o u n
, c h e q u e and st
ma heck cash
break, c necessary
M o rning tea omers if
 call cust
10.00 am levels ort a n d unts
rawn rep tion acco
e c k we ekly overd o p e n su perannua
C h r
11.00 am custome
ent with
Appointm
Noon
pm Lun
ch us day
1.001.45 m previo an
hers fro rsonal lo
C h eck vouc to d iscuss pe
m e n t
2.00 p r appoin
tm
Custome lance ac
counts
3.00 pm p s, ba
o rt day
Comp le te re d of the
0 p m d c h e q u es at en
4.0 cash an h DVDs
Balance ts, watc
5.00 pm

r, lo o k after pe
n e
Cook din
At home

What do you wish someone had told you about banking

before you started?
You cant rely on a crystal ball, as nice as that would be. I worked at
Colonial and went through a merger with Commonwealth Bank (CBA),
which was hard. I wish I had been told that a merger was evident in
the future when I started working for Colonial.

Do you have specific qualifications?

I have only completed on-the-job training since working within the
bank, which included various training courses run by the bank. For
example, I completed a three-month managers training course when
I worked with CBA, which included workshops on analysing branch
performance and expense reports, effective leadership and managing
unacceptable performance.

47
 Banking

How important is lifework to you?

I believe the balance has a lot to do with your attitude towards work.
Remember that its your job and your choice you should be happy
with what you do. If not, go find something that you like. If you cant
do that, remember that there is a bigger picture in life and your job
in may help you to reach your goals.
brief Whats your favourite pastime outside of work?
Customer Service Supervisor
I spend most of my time outside of work with my partner. We have
$$$ 3545K
pets including a cat and two snakes one is eight feet long which
hrs/wk 38
take up a lot of our time. We both work in the retail industry and enjoy
life motto work to live, dont
live to work our time outside of work relaxing. We look forward to buying a rural
property and settling down in the coming years.

48
 Insider info

Lesley Walker Team Coordinator, cv articled clerk >>

E-commerce and Investments, Defcredit usher >> receptionist >>
retail shop assistant >>
Lesley joined the Defence Force Credit
member service officer >>
Union (Defcredit) two-and-a-half years
team coordinator
ago as a temporary receptionist. This
assignment turned out to be opportune
for Lesley, who had recently deferred
her studies in search of a new future.
She was soon offered a permanent
job working in customer service within
Defcredit and was promoted to her current
role as team coordinator a year ago.

q&a
What do you do in your current job?
The most significant aspect of my job is looking after a team of
seven staff members in our call centre. I am also responsible for
looking after Defcredits investment portfolio I need to ensure our
company is getting new investment business regularly and that we are
maintaining the investments we currently hold. It is my responsibility
to ensure our members are being offered the most competitive
interest rates possible. Finally, I monitor the functions, look and feel of
our online banking.

How did you get into the e-commerce side of work?

It was part of the position and what came with the role. I never
expected to get this job when I applied for it. I just wanted the
interview experience. Getting it was a really big shock!

Why do you think you got the job?

I really enjoy coming to work. When I was in reception, I proved I was a
very good communicator with all levels of management. It was a good
way of making myself known to management. Then I worked really hard
as a member service officer, so they knew I wouldnt disappoint them.

Whats your work environment like?

Defcredit has extremely skilled and personable staff across the
country, all of whom work as one to achieve a common goal. I work in
a dynamic team of 18 people. This is split into four smaller teams, with
my team of seven being the largest. Our department consists of my
senior manager, my direct manager, two other team coordinators, and
14 member service officers. We work as a team and always strive to
ensure our members are satisfied.

49
 Banking

What do you like most about your job?

Being able to provide support to my team and having the
opportunities to be involved in projects that enhance Defcredits
business. It allows me to further develop my knowledge and
understanding of the industry. I also enjoy working in a team of
dedicated, intelligent and professional people who make going to
work a joy.

MYTH What do you like least?

Im not very good at reprimanding. I am only 22 and I found that a real
credit unions challenge, particularly when I first started in this role.
are small and
uncompetitive How do you think credit unions are perceived?
People think credit unions are tiny companies that are going to go
Credit unions range bankrupt at any second. Really, though, we are a lot more competitive
in size, offer a great than most of the banks, and if you look at how we compare, our home
range of products loan, car loan and deposit rates are all more competitive than the banks.
fact

and services, and are

often more competitive Whats an interesting project you have worked on?
than the big banks.
The most interesting project I have been involved in recently was the
redesign and implementation of our new website. I was involved in
updating the text, the design and the functionality of our online forms
and the navigation throughout the site.

What is the salary package?

About $50 000 plus bonuses.

Do you have any specific qualifications?

When I first left high school I studied a Bachelor of Behavioural
Science. I then decided that this wasnt what I wanted to do for the
rest of my life, so I deferred these studies and moved on to full-time
work as a receptionist so I could figure out what my future held.
Before starting at Defcredit, I had no qualifications so I have gained
all my knowledge through on-the-job training. I believe that this
experience and education is invaluable. However, Im currently doing a
Diploma of Banking and Finance.

What do you wish someone had told you about banking

before you started?
How interesting it was! If I had known I would have pursued it earlier.

How is your lifework balance?

Because I work in a job with people I consider friends, I find that the
lifework balance doesnt get compromised. To me, it will always be
more important to wake up in the morning looking forward to going to
work because of the people I work with, rather than the money I get
paid. I sincerely believe that money cannot buy that sort of happiness.

50
 Insider info

Whats your favourite pastime outside of work?

In the summer I enjoy going to the beach with my partner. I enjoy my
lifestyle and, in particular, spending time with my friends.

Do you have any advice for jobseekers?

The opportunities within the banking and finance sector are endless.
Once you have your foot in the door the path can take you anywhere,
which is a fantastic environment to be in. If you find that you are in a
position that you have lost interest in, create opportunities and look
at what else is available. in
Where to from here? brief
Team Coordinator
At the moment Im still looking at the management level. I guess that (E-commerce and investments)
would be the next logical step. With all dreams and aspirations, Id
$$$ 50K+
love to be the general manager of Defcredit one day! quals currently studying
Dip Bnkg&Fin
What is your life moto?
hrs/wk 38
Make the most of, and more importantly, enjoy every opportunity that lifework great
comes your way you never ever know where those opportunities can flexibility 9/10
lead.

51
 Banking
cv office junior
>> sales assistant >>
promotional demonstrator
>> receptionist >> office
manager >> team leader
glossary
Contact centre is:
another name for a
call centre.
52
Tania Prior Team Leader, New Lending,
Westpac
Tania has spent six years with Westpac
in their contact centre in Adelaide, three
of which shes spent in her current role
as team leader. Prior to switching to a
career path in banking she worked in a
variety of jobs.
Tania finds that the flexibility of working
in a contact centre environment helps
her balance her lifework commitments
to look after two teenage boys and
keep up with her sporting commitments.
q&a
What do you do in your current job?
I am a team leader in one of Westpacs contact centres. My role is
to lead, motivate and coach my team to focus on maximising every
opportunity presented, improve customer experience and work
together well. I am also required to manage service levels across
my immediate team and across the business unit to ensure all
consultants are delivering outstanding customer experience.
How do you achieve this?
I conduct weekly team and sales meetings with the aim to build
teamwork and morale while ensuring all bankers are accountable for
their individual performance. Another key element of my role is to work
on initiatives that will assist in increasing my teams performance.
Who do you work with?
I currently run a team of 15 banking representatives, or bankers. Each
banker has monthly targets that they are required to achieve. Within
my business unit we have a team of approximately 12 team leaders.
What does a banker do exactly?
The full term is banking representative. This term is used for staff
members who assist our customers with any of their banking
enquiries. A large part of my job is to mentor and coach the bankers
in my team.
What aspects of working in a contact centre do you enjoy?
I enjoy the teamwork and fun environment that a contact centre
provides. Its very structured and does not suit everybody but for me
it works well.
 Insider info

What do you like most about your job?

fyi
Teamwork is a key factor in what I enjoy about my work. I enjoy my job
and most days it is a pleasure to come to work. I find it very rewarding Governor Macquarie
when at the end of each quarter we recognise people who have established the Bank of
performed well. New South Wales in 1817
to create a stable monetary
What do you like least? system up until then people
were bartering rum instead.
I find the least enjoyable part of my role is when I have a team
Westpac now employs
member who is not performing as well as expected, as its my job to 27 000 people globally and
provide that feedback. services more than 8.2 million
customers.
What is interesting about your job?
I have worked in a number of different business units, such as loan
increases and retention, as a team leader. In retention we reviewed
our customers banking needs with the aim of retaining their business.
I am currently working in new lending, where our bankers write new
lending for our customers. A customer will call us to establish a
new loan with Westpac for purchasing a home, holiday, investment
property or other investment options.

 onduct coaching sessions with

C
Monday individual staff members
Morning walk before work
Morning meeting with all team
ger Thursday
leaders and my centre mana
staff Weekly team meeting
Quick morning hello with all
staf f to set V alidate calls
Sales meeting with
rs
goals for week M eeting with other team leade
to discuss unit performance

Tuesday
Morning hello with staff Friday
 orning walk before work
M
Validate calls to
enter  ales meeting with my boss
S
Update payroll information discuss my teams performa
nce
all sick and rec leave requests
Play sport after work
Saturday
 elax
R
Wednesday  pend time with my family
S
Morning walk before work
 alk my dog
W
Morning hello with staff
staff to  porting commitments
S
Mid-week catch up with all
check on sales targets

How does your area approach salary reward?

All team leaders commence on a base salary. As we develop we
expand our skills base to include things such as coaching, leading,
operations management and developing effective relationships. Our
salary reflects our development in these and other areas. Once a year
my performance will be reviewed to ensure I am developing in my role.
At this point, my base pay level may increase.

53
 Banking

find out You spent time in various roles before banking has this
more helped you?
To search for jobs and I spent many years working for smaller companies with no real career
apply online go to aim or focus. I feel I did learn some great life skills along the way that
www.westpac.com.au have assisted me in my current role.

Do you have any specific qualifications?

I had no formal qualifications when I joined Westpac. I have since
attended many training courses on coaching, leadership and
performance discussions.
I feel my life skills have been a huge asset to me in my career
progression. I have survived a divorce, raised two teenage boys and
sit on a board of management for a state sporting association all
while maintaining a positive attitude. I am always willing to learn and
share my thoughts and ideas.

Is your job rewarding?

Purchasing a home is a big thing for many people, and it is very
rewarding to be a part of this process.

How is your lifework balance?

I am divorced with two teenage boys, so at times Ive had to juggle
my time between work and home. Working within a contact centre
environment has allowed me flexibility. As a phone-based consultant
I can swap shifts to meet my home commitments. For example, my
son recently underwent knee surgery that required an extensive
rehabilitation process. I was able to work reduced hours, without any
problem, so I could help him out.

Whats your favourite pastime outside of work?

I play badminton, which I have done for the past 25 years. During
this time I have managed state teams, been an umpire and was lucky
enough to officiate at the 2000 Sydney Olympic Games and 2006
Melbourne Commonwealth Games. For the past five years I have held
a position on the state board. These skills have assisted me in my role
in as team leader.
brief Where to from here?
Team Leader (New Lending) I have enjoyed each business unit and see myself remaining within
$$$ based on the contact centre environment. I just completed a relief role as centre
performance
manager, which was very exciting and gave me a great insight into
quals in-house training
how and why bigger decisions are made. I enjoyed this experience
hrs/wk 40 + 1 day off
per month so much that I am working on my development plan with the goal to
lifework important, obtaining a centre manager position in the future.
achievable,
rewarding Whats your life motto?
flexibility 9/10 You get one chance at life; there is no rewind button so make the most
of every opportunity.

54
 Insider info

Harry Senlitonga Finance Analyst and cv assistant process

Sector Manager, CANNEX engineer >> customer
service >> customer
Harry worked part time as a teller for two
service specialist >>
years while studying for his Masters in
finance analyst and sector
Finance. Rather than jump straight into
manager
banking, a role at CANNEX came up after
he finished his degree and he jumped
at it. Harry has now been analysing and
comparing financial products at CANNEX
for two years. CANNEX is Australias
leading independent consumer finance
research firm, employing approximately
40 people.

q&a
What do you do in your current job?
Im a financial analyst in the retail banking sector. I follow the latest news
and issues happening in the industry and have a look at the different
products in the market, such as mortgages or margin loans, to decide
how they rate and compare to the rest of the market. Part of my job
involves providing commentary to the media about current issues and
I also write articles for Australian Property Investor magazine.

Whats your work environment like?

I work in an open plan office where everyone can interact with each
other. I work very closely in a group with a research team. Were
all analysts who look at different financial products. I look after
mortgages, specialist lending and margin lending. Its a fun team. On
Fridays we usually have lunch together and theres always something
going on.

What do you like most about your job?

I have the flexibility to explore something new every day. For example,
I work closely with the media. We have daily coverage in newspapers
and magazines. Its good for me to see my comments up there and
whether other people agree or disagree with them.

What do you like least?

I need more time to develop all my ideas.

How is your lifework balance?

Its typical office hours, sitting all day in front of a computer screen.
Most of the work stays at the office. Only under special circumstances
do I have to do some extra hours or take home some work, so its
pretty easy to balance it with life.

55
 Banking

What aspects of banking interest you?

Financial risk management and product management are interesting
areas with lots of potential.

Whats an interesting project you have worked on?

I helped develop the CANNEX star ratings. The CANNEX star ratings
are a way of helping consumers compare financial products based on
their rates and features. Its a unique thing we do here at CANNEX that
no-one else does. For example, with mortgages I follow up the market
trends on all mortgage products in Australia and keep updating the
data. Then every six months we update the methodology so it reflects
the trends and release another report. I enjoy it because I have
interactions with consumers who use the products and the institutions
as well.

Thursday
on
Monday Improvements
logies
Group meeting research methodo
Weekly planning Sports night
bsite
Response to we
Harry
query from Ask Friday
sectio n Media activities
(interview with
journalists)
Friday afternoon
Tuesday the
opment drinks, dinner in
Research devel
city

Wednesday
on topical Weekend
Writing article ial
nking Playing music, soc
issue on retail ba ends,
activities with fri
products
outdoor activities

What projects are you working on now?

Im currently working on CANNEX member valuations, a project which
focuses on credit unions and building societies. Weve developed a
methodology to identify the value of banking with credit unions rather
than their competitors. For example, it can show how much a member
of a credit union can save on a yearly basis when using the transaction
accounts and loans from a credit union compared to the big banks. On
average they usually are better than banks. It helps members of credit
unions see they are getting a good deal.

56
 Insider info

What is the salary package for your job?

Between $40 000 and $70 000.

Do you have any specific qualifications?

I have a Bachelors degree in Engineering and a Masters degree in
Finance from RMIT. The Masters was crucial in getting me the job
here. I started out working with the Commonwealth Bank as a teller
in a branch. My current role is different from working in the branch,
but while working there I had a lot of customer interaction. I enjoyed
talking to people to find out what was good or bad about each
product. This experience has helped me tremendously in my job here.

What do you wish someone had told you about banking

before you started?
Start early in gaining related experiences in the finance sector. If I
didnt have my experience as a part-time employee in the branch, I in
wouldnt have got this job. They liked my degree, but they knew I had
a lot of understanding of what customers wanted.
brief
Finance Analyst and
Sector Manager
Whats your favourite pastime outside of work?
$$$  070K
4
I enjoy sports, in particular cycling and squash.
quals M Fin, RMIT
Where to from here? hrs/wk 40
life motto do it now rather
Im a technical person and enjoy working with numbers. Id like to
than later
eventually get back into banking or into a financial institution.

57
 Banking
cv office junior >>
bookkeeper >> payroll clerk
>> graduate recruit >>
analyst >> senior analyst
>> manager, client and risk
analyst
58
Jeff Davis Manager, Client and Risk
Analyst, Macquarie Bank
Jeff started his career in the banking
industry just under three years ago
when he joined Macquarie as a graduate
analyst in their credit team. In that short
time hes progressed to a senior analyst
role and currently is a Manger within the
Client and Risk Analysis department. His
job involves analysing clients financial
statements to ascertain whether the
bank can offer them financing.
The starting point for getting a job in this industry is being a hard
worker. But hard work will only get you a foot in the door. To really
succeed, you need to be driven and to be driven, you need to be
interested in what you do. Be honest with yourself when you are
applying for jobs. Ask yourself, Am I going to enjoy doing this work?
Am I going to enjoy working with these people?
q&a
Why did you choose banking?
I worked full time for a few years before I started uni and I knew I
liked working with numbers. In addition, I thought there was a lot of
opportunity in finance with good prospects for career progression.
I applied for some jobs at different banks when I finished my degree
which meant a lot of interviews and testing. I received a couple of
offers but I jumped at Macquarie due to their great reputation and
they impressed me the most through the interview process.
What do you do in your current job?
I work in an area of Macquarie called Relationship Banking. Our
clientele are smallmedium sized businesses and high net worth
individuals who have lending and deposit needs. The core of my job
is assessing clients lending requests. This will include analysis of
their financial statements to see if they can service the loan on an
ongoing basis, and assessing the acceptability of the security offered.
Other factors such as how long theyve been a client of Macquarie,
how much experience they have in their industry, and the strength of
their personal net asset position are also considered when making
recommendations.
 Insider info

Whats your work environment like?

I work with a team of 12 analysts, including four graduates, who have
varying levels of experience and responsibilities. We work alongside
a team of relationship managers who each have a book of clients.
When a relationship manager has an existing client or a new client
who has a lending request, they will bring the request down to us for
assessment.
The office is fairly laid back. We work hard, but the moods light.
Theres always someone ready to discuss the weekends footy or
whatever. Its a good team environment.
Whats interesting about my team is that there is a lot of scope to
move around the business. People are often moving from the analyst
team to the relationship management team or onto other credit roles
within the bank. Credit is a good place to start a career in banking.

What do you like most about your job?

It boils down to three things. Firstly, I really enjoy the work I do.
Secondly, I really enjoy the team I work with. And finally, I work for a
company that really looks after its employees. Macquarie has a good
reputation for looking after its staff in terms of remuneration, career
development and training, and valuing lifework balance.
As for the actual work, I might get through five deals in one week but
then get a larger deal which could take a whole week to analyse. The
constant turnover of deals means youre always seeing results and youre
getting to analyse different situations all the time. I also enjoy mixing up MYTH
the analytical work with some more HR/managerial type responsibilities
like training, performance appraisals, and recruitment interviews. bankers are strictly
What do you like least? numbers people
To be honest, the time pressure involved in getting deals analysed
quickly can be stressful from time to time. And that level of stress is Although a good grip
probably something I dont enjoy. But it only happens now and then. on numbers is helpful,
fact

bankers usually have a

Whats an interesting project you have worked on? diverse range of skills.
Every new deal that I see is different, so that in itself keeps things
interesting. And the team always has little projects on the go which
you can get involved in, whether it be trying to make processes
more efficient, or undertaking benchmarking studies for particular
industries which we can pass on to our clients. A project were
currently working on is revamping our training procedures so we can
fast-track new starters skill development.

What is the average salary package?

I would say that, at a graduate level, the industry average may be a
package of between $40 000 to $60 000. Theres generally a salary
component and a discretionary bonus component which rewards
performance beyond your job description. Theres also scope to
increase your package fairly quickly if you are a good performer.

59
 Banking

What qualifications do you have?

Bachelor of Commerce majoring in Finance and Human Resource
Management from the University of Wollongong.

Monday Thursday
osal
Analyse financial stateme
nts Write strata lending prop

Write real estate lending Off-site client meeting

proposal Watch TV
Mixed Oztag
Friday
ing
Tuesday Tie off loose ends on lend
proposals
Staff training
Review staffs lending Beers after work
proposals  inner with friends
D
Bible study
Weekend
Wednesday Surf and/or golf
Write construction lending  hurch
C
proposal Go out for a meal
Team meeting Housework
Mens Oztag

Whats a common myth of people working in banking?

That bankers are nerds. In fact, its partly true were good with
spreadsheets! But we dont sit around talking about spreadsheets
at lunchtime. Most people I work with have really interesting lives
outside of work.

What aspect of banking interests you in particular?

Working with a client base which is made up of mostly small medium
sized business and high net worth individuals means you learn a
lot about how good businesses operate and what makes certain
industries tick. We deal with a lot of real estate clients and people
who are involved in property so we also get a few different points of
view on the property market which most people are interested in.

Is there anything that you think young people would like to

know about banking?
There are many roles in banking and investment banking. Read the
job descriptions and work out what might interest you. Employers are
looking for people who are interested in what they do, and youll enjoy
your job more if youre interested in it!

Are there any particular recruitment processes that

candidates should know about?
Graduate recruitment starts earlier than you might think! The cut off
dates for graduate positions starting in the following year might only
be a few weeks into the first semester of your final year.

60
 Insider info

Make sure you get your applications in on time! Once you apply, the
process might be long and involve multiple interviews and tests. Be
ready for these by doing practice interviews and tests, which your
university might be able to offer.

What do you think got you your job?

Id say that my university results showed Im a hard worker and that
I have a history of success. And Id say that the interview and testing
process showed that I was interested in the job and would fit in with
the team from a personality/culture perspective.

Youre now hiring people yourself. Any advice?

At a graduate level youre not expected to know everything. It is far
better to come across as someone who is willing to learn than someone
who thinks they know everything. Show interest in the position, ask
questions and be curious about what youre going to be doing.
From a personal perspective Id suggest being honest and open in the
application process. You need to work out if the position suits you and
the employer needs to work out if you suit the position. If theres no fit
its not going to be to anyones benefit for you to get the job.

e off
rfing dur ing his tim
Jef f enjoys su
find out
How is your lifework balance?
The management colleagues I work with dont really want to see
more
For information about
people working crazy hours working back late at night and coming in
Macquaries graduate
on the weekends. Were encouraged to work hard while were at work program go to
but to make sure we make time for family, friends, sport, and whatever www.macquarie.com.au
it is that we enjoy.

61
 Banking

Whats your favourite pastime outside of work?

fyi
Oztag is a non-contact form of
rugby league. To prevent tries
from being scored, each team
attempts to remove a strip of
cloth attached to the sides of
each player.
I was married earlier this year, so I like spending my spare time with
my wife going to dinner or the movies or just getting a coffee. The rest
of my spare time is spent playing Oztag, surfing, wakeboarding, and
the occasional round of golf.
Where to from here?
I dont really have a 5-year or 10-year plan because Im pretty
happy where I am. And things happen so quickly at Macquarie that
opportunities are popping up all the time. For now, I just want to get
better and better at what I do and then take on a more senior position
within the team.

in Whats your life motto?

brief Dont regret it later.
Manager, Client and
Risk Analyst

$$$ 85100K
quals B Comm,
Wollongong Uni
hrs/wk 50
lifework must have it
flexibility 8/10

62
 Insider info

Donny Galella Customer Loyalty and cv retail position >>

Value Manager, Virgin Money sales assistant >> graduate
recruit, CBA >> product
Donny started in the banking industry
development manager >>
as a graduate recruit for Commonwealth
customer loyalty and
Bank, where he worked as a product
value manager
development manager for credit cards.
When Virgin Money approached him
three years ago to help launch the Virgin
Credit Card in Australia, he jumped at the
opportunity. In his role Donny looks after
customer retention management (CRM),
glossary
a role that is growing in importance
within financial services. CRM means:
Customer Retention

q&a Management, a strategy

used by companies to focus
on creating and maintaining
lasting relationships with
What do you do in your current job? customers.
I work on keeping our customers. The way I do this is by trying to grow
and build relationships with them. This could be through our reward
program or other activities. It involves everything from developing
marketing communications, managing partner relationships with our
reward partners, understanding our customers, their behaviours and how
to keep them happy in order to stop them from going to our competitors.

How is Virgin different from other financial institutions?

The biggest difference is the culture. When I was studying at
university, we did case studies on Virgin and it had always been my
dream to work for them. It suits my values and beliefs. I like the idea
of being a challenger to the status quo and giving the big boys a run
for their money. In particular, trying to shake up and revolutionise the
industry.

Who do you work with?

I work with a team of five people, but I interact with many others
across the company because my role is seen as a specialist within the
company. The Virgin Credit Card was the first product Virgin Money
launched, and I was employed for that. As weve launched Virgin Super
and Virgin Home Loans, Ive been called on to look at those businesses
as well to start thinking about loyalty and retention and to see where
we can leverage off what Ive already done with credit cards.

Whats the corporate culture like?

I think the company creates a happy environment and culture and
thats what keeps people working here. We have casual dress five
days a week and its not uncommon in summer to see people wearing
shirts and thongs. I do dress up for meetings though!

63
 Banking

What do you like most about your job?

What drew me here in the first place is Virgins culture. Its fun,
dynamic and exciting. It goes out there to challenge the industry by
offering something new and different.

What do you like least?

The numbers side of things, such as accounting and budgeting.

What is the salary package?

From about 65K to 85K plus bonuses.

Thursday
as parties
Monday Plan staff Christm
d to emails figures and
Read and respon Go through sales
P lan my week budget s
s web site
M ake appointment
s Review new award
my to do list Drinks
Review

Tuesday Friday
gress (WIP) plan next week
T eam workinpro Review week and
me eti ng Update to do list
 anagement WIP m members
M Meet and help tea
reward ancials for
M eet with potential Do summary of fin
partners pre vio us mo nth
 o to the gym
G
Weekend
label producing
Wednesday Work on fashion
h third parties
 hree meetings wit
T samples
ends over lunch
 eeting with advert
M
ising agency Catch up with fri
or dinner
G o to call centre
Go to the beach
Work with team Play tennis, go to
the gym
ls
Return phone cal

What aspects of banking interest you in particular?

I love how this industry is continually changing and evolving,
particularly watching companies like Virgin come in and revolutionise
the industry. A new product will be launched in credit cards every
three months, so its very dynamic.

What do you wish someone had told you about banking

before you started?
find out Try to find out about a companys culture before you start
more working there.

To look for current jobs Do you have specific qualifications?

available at Virgin Money, go I have a Bachelor of Commerce, majoring in marketing from the
to www.virginmoney.com.au University of Wollongong.

64
 Insider info

How important has this qualification been?

It has definitely helped. It was a prerequisite to even get considered
for my first graduate position out of university. At university you learn
all the theories and when you get into the workplace you start seeing
all the theory in action. No matter what I do in the future, I am certain
having a degree under my belt will help.

What do you think people starting out in this industry

need to know?
Your first job in the industry might not be your dream job, but it will
give you a good grounding so you can move closer to your goals. Being
in a graduate program gave me a great grounding into the industry.

Is there a banking myth that you know of? What is the reality
in your opinion?
People assume when you work in marketing for a financial services
business that its glamorous. Its not all advertising and TV
commercials there are specific roles, such as mine.

How is your lifework balance?

Management dont want people here working all hours. If they see
you staying back late theyll encourage you to go home. Its part of the
culture to ensure everyone has a healthy balance between work and
in
lifestyle. Ive got all the support here I need.
brief
Whats your favourite pastime outside of work? Customer Loyalty and
Out of Virgin time, I have a love of the arts such as drawing, painting Value Manager

and, in particular, fashion. Ive actually started my own fashion label $$$ 6585K + bonuses
over the last two years. Everything I do at Virgin helps to inspire me. I quals B Comm, Uni of
Wollongong
look at what Richard Branson has done and I think I can do that too
hrs/wk 4045
so its lifted my entrepreneurial spirit.
lifework flexible and
Where to from here? accommodating
flexibility 8.5/10
Ive found myself in a niche and I guess I want my expertise of
life motto dont burn your
retention and loyalty in the industry to grow by working more across bridges
the company on other financial products.

65
 Banking
cv fast food cashier >>
teller >> customer service
officer >> personal banker
>> assistant manager
Morley, Nollamara >>
branch manager
66
Jodie Matthews Branch Manager,
Commonwealth Bank
Jodie joined the Commonwealth Bank
nine-and-a-half years ago as a teller.
Since then she has quickly moved up the
ranks and is now a Branch Manager at
three branches in Perths suburbs. Shes
responsible for all the branch staff, its
daily activities and meeting sales targets.
q&a
What do you do in your current job?
Being a Branch Manager is like running your own business. I have to
make sure that we are excelling at customer service and that the branch
is running to the best of its ability, through achieving and striving
for stronger sales and market share. Customer service is inherently
important in my job. Finally, I also have to dabble in HR by making sure
my staff are well-trained, knowledgeable, happy and informed.
Who works in your branch?
In my branch I work with two assistant managers, a personal lender,
a financial planner, 10 customer service specialists, eight tellers and
two operations clerks. This keeps me busy!
What do you like most about your job?
Managing relationships and playing a role in helping people achieve
their goals whether theyre customers, direct reports or colleagues.
I believe in CBAs vision and enjoy working to achieve it.
What do you like least?
The negative and often unfair publicity that banks receive and the
resulting public perception of us.
Whats an interesting project you have worked on?
I was part of a team that organised our annual regional managers
conference. I found this particularly interesting because I had never
been involved in any event planning.
 Insider info

What aspects of banking interest you in particular?

I believe anyone who has a customer service focus, is driven, has
strong organisational skills and the ability to continually improve as a
person can have a successful career in the banking industry, at least
with CBA.

What is something unexpected that has come out of

your role?
Part of my job is giving public speaking assignments, such as
presentations and talks at school assemblies. Im not confident in
public speaking so being given the opportunity to do it allows me to
improve and ultimately conquer my fears.

What is the salary package for your job?

A branch managers salary can start from $55 000 plus. This depends
on the size of the branch, number of direct reports and the teams
business outcomes.

Monday Thursday
Customer service Customer service
Weekly team sales meeting C ollect weekly sales results
Area team sales meeting D  istribute daily tasks
Coach staff on outcomes D aily tasks and compliance chec
ks
Distribute weekly tasks Groce ry shop ping or facia l appo intment
Queue management Friday
Problem solving C  ustomer service
Dinner with my family E  nd of week debrief with area
lem solving
Tuesday Q ueue management and prob
Customer service D  istribute daily task s
Distribute daily tasks O  perational tasks
liance
Operational tasks and comp C  ompliance checks
checks A ssist staff
s
Teleconference with colleague Deal with other departments
with diffi cult clien t enqu iries
Help
Saturday
Deal with staff issues  atch West Coast Eagles matc
W
hI
Respond to emails have a membership
h
Wednesday W alk my two dogs on the beac
ds
Customer service Catch up with family and frien
Distribute daily tasks
week
Plan staffing for following
Queue management
Eat out or go to movies

Do you have any specific qualifications?

I have a Bachelor of Commerce, majoring in sales and marketing. This
degree was certainly not necessary, but definitely beneficial.
I completed the vast majority of my degree part time, during which
I progressed from teller to branch manager. My studies were inherent
in that progress.

67
 Banking

What do you wish someone had told you about banking

before you started?
Make sure you get lending experience. Think bigger and spend time in
some of the parts other than banking business, including non-retail,
before progressing into a management role. This allows you to try
before you buy and develop a broader experience base and network.

Do you know any industry myths?

Yes that all bank managers are middle-aged men. In my area we
have 21 branch managers, of whom only six are men.

What are your tips for preparing an outstanding

job application?
Relate your strengths, skills and attributes directly to the job
specifications. Be honest, you need to be able to demonstrate these
attributes in an interview.

What about job interviews?

Be prepared with real life examples think about your strengths in
broad terms and then relate back to how you demonstrate these day
to day. Eye contact, first impressions and presentation physical
and verbal are the keys. Dont over-prepare or over-rehearse and
remember to listen to the questions.
in
brief How is your lifework balance?
Branch Manager Achieving lifework balance has been a challenge for me since my
$$$ 60100K first management role. I believe that I am consistently working
quals B Comm, Curtin towards a balance. Its very easy to spend too much time at work, so
University this is why I am eager to remain in my current role longer than I have
hrs/wk 5560 in previous positions.
lifework getting better
flexibility 7/10 Where to from here?
life motto Id rather regret In the future I would like to get some exposure to more strategic parts
something I did
of our business. Ultimately I would be interested in pursuing a career
or said, than
regret never doing in a completely different part of our business, such as corporate or
or saying it third-party banking.

68
 #OMMONWEALTH"ANKOF!USTRALIA!".#"!4"2
/PPORTUNITY
ISNTKNOCKING
)TSBEATING
DOWNYOURDOOR
)FYOUWANTACAREERTHATLETSYOUGOPLACESANDDOTHINGSTHENYOUVECOMETOTHERIGHTPLACE
7EHAVESOMANYOPPORTUNITIESWITHINOURRETAILBANKINGNETWORKYOULLBESPOILTFORCHOICE4O
lNDOUTMOREVISITCOMMBANKCOMAUCAREERSORFORASSISTANCECALLBETWEEN
AMANDPM-ONDAYTO&RIDAY
 we also take a
long-term view
of our people

At Westpac, people are at the heart
of everything we do. Its the essence of
our brand and why were committed to
continuous training and development.
Our people also appreciate being a part
of an organisation that walks the talk
when it comes to values and strives to do
the right thing in every area of its business.
We were the rst Australian bank to sign
the Equator Principles and have been
recognised by Dow Jones as the most
sustainable bank in the world for the
fth year running.
At Westpac, we believe no one should
ever have to compromise their career
ambitions or their personal values.

For more information visit

westpac.com.au/careers
 Insider info

Susan Treglown Human Resources cv home finance

Consultant, Westpac manager >> branch
manager >> project
Susan has had a long and varied career
coordinator >> human
in the banking industry spanning
resources consultant
over 22 years, all with Westpac. After
numerous roles throughout the branch
network, she chose a career shift into
human resources. She continued to
work for Westpac while studying part
time for a degree and, upon completion,
started working as an HR consultant to
Westpacs South Australian business
two-and-a-half years ago. Susan spends
most of her time advising the different areas of Westpac, from branch
and call centre employees through to senior management.

q&a
What do you do in your current job?
I work as a state-based consultant to the consumer financial services
business of Westpac. I am, to some extent, the face of human
resources in South Australia. I provide advice to the state General
Manager in South Australia, his leadership team and the people who
report through to them. I also have some responsibility for our call
centres nationally, which we call our contact centres.
I am the person people come to with their people-related questions
and problems. I provide the support to ensure that we have national
consistency in the way we apply our human resource policies
and processes.

Whats your work environment like?

I work in a remote team. My colleagues are located around the various
states. This means I have quite a lot of autonomy and work on my
own quite a bit. In a day I could have a conversation with and advise
the state General Manager, and then I could get a call from a team
leader at one of our contact centres whos looking for advice about a
particular individual who has a problem with the business. Theres a
lot of variety.

What do you like most about your job?

I like the variety and the autonomy. At any one time I can be working
with a number of different people in very different parts of the
business on numerous projects. This means I will often use a lot of
different skills throughout my day.

71
 Banking

What do you like least?

The remoteness. Im not always able to bounce ideas off people
and also I dont always get that sanity check you get from working
with colleagues.

Whats an interesting project you have worked on?

Before my current role, I worked as a project coordinator on a number
of projects, which was really interesting. Last year I was involved
in introducing a new framework for our call centre team leaders to
assist them in understanding and developing their current capabilities
and developing further in their roles. It was really satisfying to work
with the business, and with the people who were going to use the
framework to help them see the advantages it would bring.

9.00 am Check and respond to emails

Make phone calls
10.00 am Meeting with state General Manager
to discuss state HR issues and
actions required
11.00 am Finalise project timelines for a
specific project Im working on
Noon Return phone calls
Telephone discussion with an
interstate colleague to gain
resolution of a problem a contact
centre team leader is experiencing
1.00 pm Fortnightly team meeting
teleconference with interstate
colleagues
2.30 pm Lunch
3.00 pm Meeting with regional manager
to advise on a performance
management matter
4.00 pm Review and edit documents for
contact centre business prior to
them being available for reference
online
5.00 pm Action emails and return phone calls
After work Hockey training

What made you decide to move from a banking role to HR?

I was looking for a new challenge and to broaden my skills. In part, the
role came about as a result of the degree I completed. I chose to study
a Behavioural Science degree because it was immediately appealing
to me and things evolved from there.

72
 Insider info

Does your background in banking help?

My banking skills definitely help me on a daily basis. I have a good
understanding and a high level of credibility with the business
leaders I work with. I can talk their language and I understand whats
happening in their branches.

What aspects of banking interest you in particular?

Im really interested in the changes that are happening within the
branch network and the various challenges we face in the way we
deliver our products and services. People dont necessarily have to
come into a branch anymore. Its interesting to be involved in the
transformation that is currently taking place and ensure we provide
the same seamless service, irrespective of which banking channels
customers choose to use.

What do you wish someone had told you about banking

before you started?
Banking is a really fast-paced, ever-evolving industry. Its certainly
changed into an entirely different industry since I started working in
it. In the past it was a much more staid industry to work in, but its
definitely not like that anymore.

What is the salary package for your job?

$60 000 plus, on average.
in
Do you have any specific qualifications? brief
I have a Bachelor in Behavioural Science from Flinders University. The Human Resources Consultant
formal education is important, however the on-the-job experience
$$$ 70K
allows me to understand fully what the business is experiencing. I quals BBehSc, Flinders
guess I tend to be more pragmatic in my role rather than theoretical. University
hrs/wk 40 (4 days/week)
Does your job offer you enough flexibility?
lifework important but
Yes, it does. I was able to work part time for five years while I hard to achieve
completed my degree. When I finished, I was still able to maintain flexibility 7/10
working four days a week. Saying that, working part time is really a life motto you always miss
100 per cent of the
bit of a myth because in a role like mine you really do work five days shots you dont take
within the four. But its nice to have a long weekend every week.

73
 Banking

cv civil engineer in Jacek Sciezka General Manager, Polish

Kracw, Poland >> general Community Credit Union
manager, community
Jacek moved to Adelaide from Poland
credit union
17 years ago, where he was a civil
engineer. His first and only job in
Australia has been as General Manager
for the Polish Community Credit Union.

q&a
What do you do in your current job?
My job is, theoretically, managing the office activity. But in reality I am
involved in all activities of the Polish Community Credit Union. I am in
charge of all aspects of customer services, from the moment people
apply to be a member to the moment when I have to close an account
due to the death of the member.

Whats your work environment like?

I am the only person in charge of the credit union. I have a part-time
worker who is in charge of some of the office activities. This persons
role is basically to care for the credit union in case Im absent, or to
eventually take over if I ever leave.

What do you like about your job?

The fact that when I started here, it was the smallest credit union in
Australia, with only $150 000 in assets and no accumulated profit. It
was my first full-time job in Australia, and I was new to the industry.
Now with assets at around $2.5 million and accumulated profit around
$250 000, I see the improvement. Also, I have dramatically changed
the portfolio of clients, transforming membership from purely
Polish to multicultural. At the moment, we have clients from former
Yugoslavia, the Middle East and more and more Australians.

Whats the secret of your success?

I am a Bank Manager who not only cares about this financial
institution, but also cares about its members. I know them personally
and give them a hand during the bad and good financial moments of
their life. My idea is simple when you are serving people, be sure
that you are serving them as you would want to be served.

74
 Insider info

What do you like least?

MYTH
The moment when we lose a customer for any reason. Due to the all credit unions
small size of this business, customers tend to move to bigger are available only
financial institutions.
to specific groups
Whats an interesting project you have worked on? of people
Building a bigger and better credit union. During my first five years There are some credit
as a manager, I ran a very intensive campaign to grow the business. unions that are restricted;
I went wherever there were Polish customers balls, fundraising however, most credit

fact
unions are now available
dinners, festivals and seniors club lunches. Our budget for this
for everyone and offer
campaign was zero. All I had was my ability to speak with people and good value for money.
convince them to invest money with our credit union.

How is working for a small credit union different?

Until I joined we were pretty exclusive to people from Poland. It was my
idea to open the credit union to other communities. For example, the
Balkan War produced thousands of refugees, who arrived in Australia
without any money or savings to start a new life. I designed a special
settlement loan that many took for settlement expenses in South
Australia. I am very proud that the majority of them are still our clients.

What is the salary package for your job?

Around $48 000 per annum.

Do you have any specific qualifications?

I have a Masters in Civil Engineering from the Technology University in
Kracw, Poland. In Australia I have a Diploma in Financial Services.

glas
r Mile Be ach, Port Dou
zyna, at Fou
his wife, Gra
Jacek with

75
 Banking

What do you wish someone had told you about banking

before you started?
There are fantastic opportunities. If you like contact with people and
providing excellent service, dont waste your time be first in line for
a job. I understand that my job is not typical, as my role offers a lot
of variety.

er
ime work
ta s k s f or part-t
nise
ork, orga eck mes
sages
Get to w s cash, ch
9:0 0 a m s d a y ail
Balance
previou en the m
a m e c u s to mers, op
10.00 phone, s
erv
Answer
11.00 am c u s tomers r loan
Lunch, s
erve faxes fo
o n o f f le tt ers and
N o d send coun ts
Write an client ac
operate , look af
ter
1.00 pm applications, t ac unts ctions, check lo
c o an
c li e n
p o s it m oney into osits and transa
De banking
dep
2:00 pm Internet m previo
us day
lients
applica ti o n s f ro proved c
m e n ta ti on for ap
u
loan doc
Prepare family
3.00 pm h d o o rs with my
C lo se branc a n d sp end time
dinne r
4.00 pm me, cook
Head ho
5.00 p m

How is your lifework balance?

I have a great relationship between my personal life and career. This is
due to living in Adelaide. Its not New York or Sydney and I sometimes
miss the size and beauty of big cities, but on any typical day during
summer Ill finish work at 4.30 pm and I can be on the beach by
6.15 pm with my family. Then I think small is beautiful.
in
brief What else do you do outside of work?
General Manager My hobby is cooking. I spend time watching culinary shows and
$$$ 48K reading professional books and newspapers. Ive written more than
quals M Sc Eng, Dip 35 articles for Polish newspapers about cooking and my culinary
Fin Services
memories from different countries.
hrs/wk 38
lifework fantastic Where to from here?
life motto to be happy I think that Ill stay in the Polish Community Credit Union as long as
means to love
what you have we operate. Maybe one day Ill realise my dream of opening a small
coffee shop with purely European food.

76
 Insider info

Nikki Cooper Manager, Business Support, cv supermarket

Commonwealth Bank cashier >> bar attendant
>> graduate recruit >>
Nikki joined the Commonwealth Bank
business analyst >>
(CBA) four years ago as a graduate recruit.
manager, business support
After a year doing the graduate recruit
rotation, she settled into a business
analyst role within the home loans team
where she discovered she had a penchant
for project management. She moved into
her current role as a manager in the head
office of CBA nine months ago. Nikki has
now been in banking for four years and
enjoys working on numerous projects that
analyse and improve aspects of the banks business.

q&a
What do you do in your current job?
The area I currently work in is cash operations and planning. This area
looks after all the cash requirements of the Commonwealth Banks
branches and ATMs, which includes forecasting cash requirements,
managing transport logistics and cash carrier relationships.
My team also conducts a great deal of analysis to help optimise
our cash holdings by comparing the cost of holding or transporting
cash. Holding cash in a branch or ATM costs the bank money, as does
transporting the cash to the required areas. Therefore we have to
analyse the ideal amount of money that will ensure the ATM or branch
has sufficient funds but is not holding too much money.

Whats your work environment like?

Because CBA is such a large company, I am able to work with many
different people in many different divisions. The cash operations team is fyi
made up of about 30 people in total, and has a great friendly culture. My
Commonwealth Bank
role as the manager of the business support team involves managing
employs over 35 000
five people, as well as around six projects of varying complexity. people and is considered
What do you like most about your job? the largest bank in Australia
in terms of its customer
Because I work on projects, the best thing about my job is the fact that base. To give you an idea
every day is different to the next. I am easily bored by routine or repetitive just how big this bank is, its
tasks, so the project environment is perfect to keep me on my toes. call centres answer about
2.5 million calls a week.
What do you like least?
In every project nothing goes perfectly, so there are always fires to
fight or issues coming to hand, which can be fairly stressful at times.

77
 Banking

Are there any interesting projects you are working on

right now?
At any one time I am working on a number of projects. I am currently
managing the cash system upgrade, which has been an extremely
interesting project. We started the project from the very beginning
I had to present the project concept to the project board, obtain
funding and resources and plan the entire project. From there, I have
managed the project with the help of my great team through each
lifecycle stage so its been a great learning experience.

Thursday
ls
Monday Emails, phone cal
weekly updates eting
Team meeting M
 ana ge me nt me
of the
from all members planning
team Christmas cash
business support
ls meeting
Emails, phone cal ject issues
ject issues Resolve any pro
Resolve any pro
e meeting Go to the gym
Sales and servic
Go to the gym
Friday
group meeting
Tuesday Project working
Emails, phone cal
ls e catchup
Sales and servic
op era tio ns ma nagement ject issues
Cash Resolving any pro
meeti ng cal ls
ject issues Emails, phone
Resolve any pro inks!
Revi ew do cum en tation After-work dr
G  o to the gym
Weekend
family and
Wednesday Socialising with
ls
Emails, phone cal frien ds
ale s and ser vic e catchup
S
ject issues
Resolve any pro
roj ec t im ple me ntation meeting
P

Drama cla ss

What is the average salary package?

A business analysts salary can start from $60 000 plus.

With your experience, where else could you work?

As either a business analyst or a project manager there are many
places I could work. The financial industry regularly seeks people with
these skills. I could also work in many non-financial companies, such
as within the government or in a marketing role.

78
 Insider info

Do you have any specific qualifications?

I have a Bachelor of Business, majoring in management, from the
University of Western Sydney. The degree was essential for getting
my foot in the door via the graduate program. However, once in, the
degree means very little and it is up to you to prove yourself. I feel I
have learnt far more from on-the-job training than theory at university.

What are your tips for preparing an outstanding

job application?
Find the right balance between providing relevant information on
your educational and work experience background, without going
overboard. Most employers are busy and receive hundreds of
rsums, so if they are too long they will often get overlooked.

Whats your favourite pastime outside of work?

Ive joined a drama group to use more of the creative side of my
brain! I go to the gym regularly and go out with friends to the pub,
movies, shopping and so on.
in
How is your lifework balance? brief
My job is fairly flexible so I am able to achieve a good lifework Manager, Business Support
balance. There are some really busy times when you often feel as
$$$ 80100K
though you live at work, but there are also troughs when you are able quals B Bus, Uni of
to spend less time at work and more time out enjoying life. Western Sydney
hrs/wk 4050
Where to from here?
lifework good
I would like to continue along the project management path, flexibility 7/10
potentially moving to the executive level where I would have the life motto be happy
responsibility of running an entire department.

79
 Banking

cv bank teller Chris Jones Mobile Lending Manager,

>> customer service Adelaide Bank
representative >> lending
Chris has worked in lending throughout
consultant >> senior
the banking industry for most of his
lending consultant >>
33 years in the field. Hes one of the
business development
countrys first mobile lenders and enjoys
manager >> mobile lending the challenge and diversity his role
manager offers. He has worked for Adelaide Bank
as Mobile Lending Manager for regional
South Australia for 13 years.

q&a
What do you do in your current job?
Im a Mobile Lending Manager, so I go and see customers and help
them with their loan applications, and then process the loans. I go and
see different people and talk to them about using Adelaide Bank for
home loans. This could be real estate agents, accountants, existing
customers, family and friends. I try to convince them to take their
loans out through us by demonstrating our services to them and
offering a competitive interest rate.

Whats your work environment like?

I work in a semi-team environment. There are three other lenders in
my team, and we report to a Central Manager. But at the same time I
also do a lot of my paperwork through the branch I work out of, so Im
also a part of their team.

How much of your time is spent out of the office?

Forty per cent of my time is out with clients doing interviews and
taking loan applications. I sit at a desk for about a third of my time.
That leaves about 30 per cent of my time doing the actual business
development, calling on different entities and trying to get their
business. I also work from home, depending on which is more
convenient.

What do you like most about your job?

Its a challenge and I enjoy exceeding my sales targets. I think Im just
a very sales focused and oriented person. Whether its for a home
loan or a holiday, its just giving what the customer wants and beyond,
giving them the whole package, loans and insurance protection. I
enjoy my job very much.

80
 Insider info

What do you like least?

Competition is always fierce and Im always facing deadlines for
getting loans through. There are deadlines for purchase contracts and
meeting the clients expectations. And sometimes the paperwork is
very overwhelming.

What aspects of banking interest you in particular?

Lending in general. I think its just one of those key focus areas of
general banking. Once I got into it I found it was really something I
wanted to do, as opposed to administration jobs.

What is the salary package?

$100 000 including bonuses with the potential to earn more.

Do you have any specific qualifications?

I was doing the Bankers Institute degree and a TAFE course, but the
hours and demands of the job never let me finish! I have learned some
great skills throughout the course of my career. In particular, Ive
developed great selling and communication skills.

Do you have any regrets?

I wish Id had the opportunity to work as an expat for an overseas
bank for a few years. I speak a little bit of Chinese and I would have
enjoyed the opportunity to go and work over there. Working in
banking can offer that opportunity, depending on who you are working
for.

e
is daughter Louis
Chris and h

81
 Banking

How has banking changed?

I think technology has developed banking largely. People can now
do their loans over the Internet. Its giving more access to people. Its
made my job more interesting because people want to complement
the technology with the face-to-face service.

What are the job opportunities like in banking?

I think there is always experience for good operators. I think the
competition is pretty tough in the market at the moment, but there are
opportunities in the regional areas. Its better in this type of role to put
yourself in an area that you know and where you have a network.

What advice would you give to job seekers?

Its a rewarding and challenging career and Id certainly recommend it.
When I got into this field 30-odd years ago, it was a good career path.
Its opened so many doors. I think this is still the case. You can start
with one institution and it could lead into working for an overseas
bank. Theres just a whole world out there.

How is your lifework balance?

To a degree work can be a bit overpowering. I work very long hours but
thats a personal choice. I do what I need to do. I do get the rewards
that come with it, including monetary rewards and the flexibility of
being my own boss to some degree.
One of the disadvantages of doing this job is that there is a lot of
after-hours work and I do work on the weekend, which can be a
challenge. Real estate agents seem to work 24 hours a day I get
in
brief some interesting calls at night!

Whats your favourite pastime outside of work?

Mobile Lending Manager
I love sport and I enjoy spending time with my family and around the
$$$  00K + bonuses
1
quals never finished house. We go for drives and holidays and I like to go overseas once
hrs/wk 70 a year.
lifework being very flexible Where to from here?
flexibility 8/10
At the moment, Im happy doing what Im doing. Im not interested in
life motto work hard and
be happy a sales managers position or anything like that, Id like to just keep
developing in my role of keeping the business flowing.

82
WERE
WERE LOOKING FOR
LOOKING FOR

THE
THE NEXT AUSSIE
NEXT AUSSIE

SUCCESS STORY
SUCCESS STORY

For over 15 years Aussie has been changing the face of home finance, credit cards
Forand
overhome insurance
15 years andhas
Aussie now were
been setting the
changing the bar even
face higher.
of home finance, credit cards
andAs we grow
home and expand
insurance our were
and now business, we need
setting team
the bar members
even higher.who are
energetic, capable and professional, who thrive in a dynamic and entrepreneurial
As we grow and expand our business, we need team members who are
environment.
energetic, capable and professional, who thrive in a dynamic and entrepreneurial
If you can demonstrate your success in Sales , Marketing, Finance or Customer
environment.
Service, and want to be rewarded for making a difference, then contact us.
If you can demonstrate your success in Sales , Marketing, Finance or Customer
A career with Aussie offers you an award winning brand, state-of-the-art
Service, and want to be rewarded for making a difference, then contact us.
technology and the opportunity to excel.
A career with Aussie offers you an award winning brand, state-of-the-art
At Aussie, you too can be confident.
technology and the opportunity to excel.
At Aussie, you too can be confident.
For more information visit

Forwww.eAUSSIE.com.au
more information visit

www.eAUSSIE.com.au
 Insider info

Erica Elvy Regional Sales Manager, cv financial controller

Aussie Home Loans >> accountant >>
mortgage adviser >>
As a mother with small children at home,
regional sales manager
Erica was looking for a career that would
complement her lifestyle. She answered
an advertisement for a mortgage adviser
at Aussie Home Loans three years
ago, and thrived in her new role. After
two years, she felt ready to move into
management. She spoke to her state
manager and shortly after was offered the
title of regional sales manager. Erica has
now spent a year in this role.

q&a
Whats interesting about the mortgage industry?
Even though were technically called sales people, were not really. Its
more like were helping people find a solution. Its really rewarding
because most of the people we see, particularly here in Sydneys
western suburbs, are first home buyers. So youre helping people
achieve their dream.

Do you have to be a salesperson to be successful?

Definitely not. Im not too fond of salespeople. Nowhere at Aussie are
you ever made to feel like that. There is a lot of money to be made as a
broker and its a great job thats very flexible. You have to motivate people
to reach their sales targets, but by showing them how and leading by
example you can achieve. We really dont push the sales process.

What do you do in your current job?

I look after a team of 40 mortgage advisers and two office staff. I make
sure they are supported in their roles and make sure targets are met.
We organise home loans for customers, so I make sure the customers
are looked after. Each day is different to the next Im either on the
phone dealing with customer complaints or Im training new brokers,
helping to put loans through or making sure my reports are up to date.
Its not something you can list a job description for.

Whats your work environment like?

Most of my interaction is with the mobile lenders. The roles intersect
in that we are all working towards a common goal, which is to help as
many customers as possible.

85
 Banking
detour
Find out more about
accounting jobs in Career
FAQs Accounting.
www.careerfaqs.com.au
Monday
MYTH
mortgage lenders
are just sales people
by another name
Its more important to
have a strong customer
fact
focus background than
sales experience.
86
You started out as an accountant how did you end up
at Aussie?
After I worked as an accountant, I spent five years at home being
a mum. I definitely didnt want to go back to accounting. I saw the
advertisement for Aussie in the paper and, since Id previously
thought about becoming a mortgage adviser or mobile lender, I
applied because I thought that would fit in with my lifestyle. I gave
them a call and its been the best decision Ive ever made.
Thursday
Customer complaints
Answer emails
Prepare team targets
Allocate leads ges
Study lender policy chan
discuss
Meet with office staff to
week ahead
Friday
rts
Prepare performance repo
Tuesday
C onduct individual team
Training
appointments
Monitor sales
Set up rosters for weekend
ted
Make sure figures are upda
Weekend
Wednesday Reading
Team meeting
P laying with kids
Meeting with lenders
Housework
Update training materials
Why do you enjoy working at Aussie?
I love the company. It seems like Ive waited all my life to work for a
company like this. As a woman and a mother Id come across a few
mens clubs in my working life. Theres no discrimination at Aussie
whether youre male or female, young or old it doesnt matter.
Theyre a fantastic company to work for. I had no experience in
management whatsoever, but they still gave me a go.
How did you get into your current role?
When I started with Aussie I always thought Id like to get into the
management side. I started out as a mortgage adviser and I looked
into having a franchise with Aussie where I would have my own shop.
 Insider info

Because I have three small children I didnt think I was ready to

handle the long hours. I explained this to my state manager and that
day I got a call from head office and had an interview.

What do you like most about your job?

I love everything about my role. I like motivating people to achieve
their targets and working as part of a team.

What do you like least?

People who cant be motivated.

Whats an interesting project you have worked on?

Ive been involved in developing our new software program. This
software is what advisers use when they go and see customers about
home loans. The adviser enters in all the relevant information about
the customer and the software shows which mortgage product is best
for that client. They asked me to help because of my experience as a
mortgage adviser and I advised them on what a broker would like to
have in this program. It was fascinating to see how we can improve
our service by what we can show customers.

What is the salary package for you job?

It can range from $70 000 to $200 000 because its performance based.

Do you have any specific qualifications?

I do have a Commerce degree, but I dont think it is necessary in my
current position. I have developed my skills totally from on-the-job
experience, and I dont think there is a better way to learn.

How is your lifework balance?

I am able to achieve a balance because I have a very understanding
employer. I have three sons and my husband is a mortgage adviser
with Aussie, so he works long hours as well. His job is very flexible
in
and this helps us achieve a balance. He takes care of the children in
the daytime and I take over in the evenings. brief
Regional Sales Manager
Whats your favourite pastime outside of work?
$$$ 70200K
I love to read it drives my whole family nuts. I have three boys so quals B Commerce, Uni
were out a lot bike riding and spending time outdoors. of Western Sydney
hrs/wk 4060
Where to from here?
lifework family comes first
In the future I might look into a state role, but I see myself staying here flexibility 8/10
long term. I love my job and I love my company, so I would never go life motto never give up
anywhere else. Im 10 minutes from home so this job is good for me.

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 Banking
cv grain handler
>> farm hand >> dairy
farmer >> Lecturer at
Australian College of
Tropical Agriculture >>
lending officer >> rural state
manager
glossary
Agribusiness means:
the businesses associated
with the production,
processing and distribution of
agricultural products.
88
Justin Harrison Rural State Manager, QLD
and NT, Rabobank
After spending many years in different
agricultural jobs, Justin saw the
important role banking played in the
lives of farmers and wanted to get
involved. He felt his move into rural
banking was a natural progression and
saw working for Rabobank as a terrific
opportunity. Even after 18 years in
the industry, Justin still enjoys visiting
rural businesses. Whether they are
cattle or fresh food producers, he finds
the challenge of assisting each farmer to get the most out of their
business very satisfying.
Rabobank Australia is a part of the international Rabobank Group,
a leading global specialist in food and agribusiness banking. It is a
significant provider of business and corporate banking and financial
services to the Australian food and agribusiness sector. The bank has
46 branches throughout Australia.
q&a
Why banking?
In any rural business you have the physical aspects and the bookwork
side of things. Today theres an increasing need for better records,
sophisticated budget structures and cash flows in order to successfully
manage a farming business. This necessitates a sound understanding
of finance and computer programs. Banking is more or less a mirror
image of farming. That is, it involves both physical on-farm work and
also time behind the computer. My passion for farming and interest in
finance made the rural banking industry a natural choice for me.
What do you do in your current job?
Im responsible for staff management and matching client needs with
financial products in order to help them grow their business. Currently,
I look after a team of 74 very dedicated staff and travel about 50 000
kilometres a year visiting clients and employees across Queensland
and the Northern Territory.
I also represent Rabobank at functions throughout these two states,
and an important part of my role involves spending time mentoring my
employees.
 Insider info

Whats your work environment like?

There is no typical day in the life of a rural banker. Some days are
spent meeting customers on their properties and inspecting the
development programs which have been completed. Other days
include analysing financial data like balance sheets, profit and loss
statements, cash flows and property development plans. There are
also staff meetings and presentations to prospective clients and
industry organisations.

What do you like most about your job?

The ability to meet new people and seeing new ideas blossom and be
implemented. Helping clients to grow their businesses gives me a real
buzz. Every day is a new adventure.

Monday Thursday
A
 rrive in office at 7.30 am Arrive in office at 7.30 am
B
 udget preparation/revision Conduct client interview
S
 taff reviews Preparation of loan application

Tuesday
Friday
Travel 1 hour to next nearest office
Office work
Staff/client meetings
Finalise loan application
Dinner with prospective clients
Catch up on emails
Wednesday
At 5.30 am travel to property Weekend
inspection with branch staff Watch sons soccer game
Check cattle
Family time
Check irrigation

What do you like least?

Just like all other jobs today, there is plenty of computer work. I wish I
had learnt to type.

What makes your job interesting?

There is never a boring day from fertiliser companies to beef and
dairy or llamas and alpacas with everything in between. Each loan
application sees a new challenge with a unique solution required.
Some days the answer is like looking for a needle in a haystack it
can be slow and methodical but when you get to the needle it makes
it all worthwhile.

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 Banking

Do you have any specific qualifications?

Initially I started with a Diploma of Applied Science. Over the years
I saw a need to upgrade my skills rather than my qualifications. I
have completed the graduate certificate portion of my MBA. I have
also completed a diploma in front line management and continue
to upgrade my workplace trainer and assessor qualifications. It is
desirable to have some formal training prior to entering the industry,
but it is not absolutely necessary. An understanding of primary
production and financial management is highly regarded.

How is your lifework balance?

in
brief
Rural State Manager
quals DipAppSc, Grad
Cert MBA, Dip Front
Line Management
hrs/wk 60
lifework its your
responsibility
life motto never give up
Travel is a big part of my job, but I always try to come home each
night. Fortunately I am an early riser so starting at 4.30 am to drive to
a property three or four hours away is not that hard. There is nothing
like a sunrise across the pristine rural plains.
Whats your favourite pastime outside of work?
I spend what free time I have at home working on my own property.
Where to from here?
Rural banking has boundless opportunities, most of which come with
experience and self-determination. The opportunity to travel abroad
with the bank is certainly of interest. Seeing new countries and
becoming part of peoples lives is exciting.

90
 Insider info

Kim Morris Marketing Manager, Horizon cv librarian assistant

Credit Union >> corporate affairs
commission clerk >>
Kim started working for Horizon Credit
supervisor, company
Union in Wollongong, NSW, 16 years
defaults >> marketing
ago as a marketing officer. Back then,
officer >> marketing
Horizon was a small transaction-based
credit union that didnt even have PCs. manager

Shes now been the Marketing Manager

for over 14 years and looks after all the
internal and external communications
for Horizon. Kims role has evolved with
the credit union and the revolution of
the finance industry by focusing more on
product diversification.

q&a
What do you do in your current job?
I wear many hats! Basically Im a jack of all trades. Primarily I look
after communications to our members, which means coordinating
telemarketing campaigns, booking TV and radio spots, writing
media releases and producing brochures, posters, newspaper ads,
newsletters and point of sale materials. I also look after market
research and product development. On top of that Im also in charge
of IT. When I first began, I was one of only two people who knew how
to use a PC. When everyone moved onto computers, I would fix any
problems they had and somehow its remained my responsibility!

Whats the culture like at Horizon?

We have a family culture and are a fairly close-knit group. Were
struggling with moving from being a transaction-based organisation to
one that has more of a sales culture. This has been difficult and weve
been evolving over the past six years. Were getting there. It would be
difficult to keep the business going if it didnt change to a sales-based
culture, as there are now so many products out there and we have to
stay competitive. fyi
Why work for a credit union? Horizon is considered a
Credit unions are trusted by their members. I think our members medium-size credit union. It
are actually getting great products, and we can hang our hat on that has $174 million in assets
and be proud that were not just trying to sell them anything were for 15 000 members and
employs a staff of 60. Its
actually introducing our members to products and services that will
eight branches span 450
make their lives better. In some respects the banks are trying to catch kilometres along Sydneys
up with us in the extraordinary services we offer. Credit unions are south coast.
more flexible than banks because we can act quicker.

91
 Banking

What do you like most about your job?

The variety. Id have to say Im happy 99 per cent of the time, and
thats whats kept me here for 16 years. Im always learning new
things, yet at the same time improving my skills.

What do you like least?

When our staff dont get onboard with what were doing. I dont care
for people who think negatively.

Whats an interesting project you have worked on?

The year 2000 millennium bug. There was a lot of work involved with
it and nothing came of it. From having reports on what youve done to
mitigate any problems, to ensuring that you have a bucket and a torch
available! It was quite an interesting project to be on from a business
continuity point of view. I hated having to go to the office at 6:30 am
on New Years Day without having been to a party the night before.

Thursday
Monday Visit branch
ff
Meet with my sta e
k list and calendar Walk at lunch tim
R
 evi ew tas ous wo rk
M
 isc ell ane
e
Walk at lunch tim nt meeting
ities Community eve
Assets and liabil
ng
committee meeti
Go to gym Friday
rk
Miscellaneous wo
h me eti ng wit h third
Lunc
Tuesday
rd parties party
Meeting with thi eting
e Operations me
Walk at lunch tim aft er wo rk
ous wo rk Drin ks
Miscell ane
Play tennis
Weekend
Shopping
Wednesday
Walk at lunch tim
e Cocktail party
third parties ily
Mee tin g wit h tw o Brunch with fam
Phone interv iew Housework
rk
Miscellaneous wo
ends
Movies with fri

Are there any interesting projects you are working on

right now?
Weve been working on introducing SMS banking. Were one of the first
financial institutions to actually offer it, so thats been fairly exciting.

92
 Insider info

Do you have any specific qualifications?

detour
I have a postgraduate Certificate in Management. I never did an
undergraduate degree but, because I was able to show my experience, Like the idea of working
I was able to go straight to a graduate course. Having qualifications in marketing? Check out
helps show that youre committed. It also gives credibility and can Career FAQs Marketing.
increase your earning potential. www.careerfaqs.com.au

What advantages do credit unions offer jobseekers?

I dont think I would have made it as a senior manager in a big bank. I
enjoy the authority and diversity I have in my role as a senior manager,
where I can make an impact. I feel more effectual and theres no
getting caught up in red tape. The pay is probably not as good, but its in
a very rewarding place to work. brief
How is your lifework balance? Marketing Manager

Im lucky in terms of work. Im not married and dont have any $$$ a bout 80K
quals postgrad Dip Mgt
children, so its easier for me to balance my lifestyle and devote
hrs/wk 50
time to the things that I have an interest in. Im also lucky in that
lifework not very balanced
sometimes my job and interests intersect. Im on the committee
flexibility 8/10
for the Thirroul seaside and arts festival, of which Horizon is also a
life motto do whatever
sponsor. It also allows me to contribute to our community under the makes you happy
guise of work, but Id do it anyway.

93
 Banking
cv research officer
>> consultant >> product
manager >> public relations
manager >> marketing
manager >> former general
manager, marketing
94
Belinda Howell Former General Manager,
Marketing, Rabobank
Belinda has had a long and
accomplished career in marketing within
a number of well-known organisations
including Macquarie Bank, Readers
Digest, British Airways and Royal
Doulton. Belinda joined Rabobank four
years ago where she managed a staff
of 20. We spoke to her when she was
working at Rabobank, where she enjoyed
seeing the impact that the marketing
department had on the banks success.
q&a
What do you do in your current job?
My job involves managing Rabobanks profile across a diverse range
of stakeholders such as clients, prospective clients, the general public
and the media. An integral part of my role is to develop strategies to
increase the banks business.
Who do you work with?
I had the unique privilege of being brought into the bank to build a
marketing team and as a result we now have a team of 20 people.
In the marketing department, there are six core teams who manage
areas from product management and development, marketing
communications, public relations, direct marketing and sponsorship
through to e-strategy. In my role I also have a lot of interaction with
the various business units throughout the bank, including corporate
financial services, agriculture banking, IT, legal and HR.
Youve worked in a number of industries why did you
choose banking?
Banking is so critical to peoples daily lives, and to be involved in
something that is so fundamentally vital is a great privilege. I couldnt
work in an industry that I thought was trivial. To me its important that
I can feel proud of the industry in which I work.
What made you choose Rabobank?
Rabobank Australia is a leading provider of financial services to the
Australian food and agriculture sector. The food and agribusiness
sector was new to me when I joined Rabobank and I found the
challenges of learning about this diverse industry very gratifying.
 Insider info

What do you like most about your job? fyi

It is very rewarding to contribute so directly to the success of the bank
both in terms of retaining clients and by bringing new customers A Senior Marketing Manager
to the bank. I also like the people I interact with on a daily basis, in a large, NSW financial
services organisation
especially my immediate staff.
can earn a yearly salary
What do you like least? upwards of 120K. A Head
of Marketing can expect to
Doing the budget. earn beyond 180K.
Whats it like working in agribusiness banking? Michael Page Sales and
Agribusiness and agriculture wasnt something I had a lot of interest in Marketing Salary Survey,
2006
before I started in this role. Im a city person and knew nothing about
what was really involved in farming. I became increasingly interested in
it as I found out more about the complexities of the industry. So much
so that I bought a small farm a year ago where I run cattle.

Thursday
Monday gement
ntation Meet with PA to discuss mana
Work on staff briefing prese
meeting agenda
Marketing team meeting
Meeting with HR
Meet with head of product
Lunch
development ger
Meeting with rural general mana
Rabobank leadership dinner
Meeting with CEO
Tuesday
Rural trade facility meeting
Friday
Meet with sponsorship team ger
Meet with public relations mana
on
A gency graphic design presentati shing team
r Meeting with Internet publi
mark eting coord inato
Meet to discuss ing
Marketing management meet
position
banking Budget meeting
Meet with head of business
day
Afternoon tea for staff birth
sellin g shift after work Weekend
Lifeline coun
Spend time with family
Wednesday
ntation
Work on staff briefing prese
resea rch mana ger regarding
Meet with
survey results
from NZ
Meet with marketing execs
olio work ing group
Meet with rural portf
g abou t next year s adve rtising
Meetin
strategy
Pilates after work

glossary
INSEAD is:
What qualifications do you have? European Institute for
I have an Arts Degree and an MBA, as well as other qualifications Business Administration, a
from over the years. I have also completed an advanced management graduate business school
in France.
program at INSEAD in Fontainebleau, France.

95
 Banking

Youve studied a lot has this helped your career?

I think that studying is a very important element of everyones
personal and professional growth. I have continued to study
throughout my career because I think it is important to keep opening
your mind up to new ways of thinking, and most importantly I really
enjoy it.

in
brief
Former General Manager,
Marketing 
quals MBA (distinction),
Uni of Lancaster (UK)
hrs/wk 46
lifework working on it
flexibility more responsibility
less flexibility
life motto life is boring without
constant learning
What do you wish someone had told you about the industry
before you started on this career path?
Generally speaking, marketing is not as highly respected in the
financial services industry as compared to other industries and I
was not prepared for this. Coming from the airline industry, where
marketing was considered hugely important, the retail banking
industry was quite a shock. That shouldnt put you off, but you
should be aware that youll need to prove your worth, so to speak,
in a measurable way. One other thing when it comes to marketing,
everybody thinks theyre an expert!
How is your lifework balance?
Im married with a teenage daughter and being able to spend time
with my family is very important. One night every fortnight I have to
leave work right on five oclock because I am a telephone counsellor
for Lifeline. Rabobank is better than most in recognising that staff
need to balance their work, social and family life.

96
 Insider info

Frank Howe Head of Personal Financial cv teller >> ledgers

Services (Fiji), ANZ and international payments
clerk >> business lending
Frank was working as a regional
assistant manager
manager for ANZ in Victoria when he was
>> business lending
offered the opportunity to work in Fiji.
manager >> business and
After over 20 years in the industry, the
timing was right and hes now been there agricultural lending manager

nearly two years. Aside from managing >> district manager >>

the assorted business units, which head of personal financial

includes over 300 staff, hes particularly services
focused on further developing the sales
culture at ANZ.

q&a
How did you get to live and work in Fiji?
fyi
For many years I had considered taking a role in the Pacific.
Fortunately, when this role became available I was in a position where ANZ has been in operation
a move to the region matched well with my career and family. At the for over 150 years and
employs more than
time my role was regional manager for northeast Victoria, a role that
30 000 people in over 25
I found both challenging and rewarding. However, the promise of new countries. In Australia, ANZ
challenges, in a market that is significantly different to that of rural operates 756 branches and
Victoria, was too good an opportunity to miss. is one of Australias largest
companies. It is listed on
What do you do? three stock exchanges,
My current role provides a broad range of consumer financial including the New York
services across Fiji. I am responsible for over 14 branches with a Stock Exchange.
team of approximately 300 staff strategically located to service
these locations. In addition to the branch network, my role leads
our electronic banking services team (56 ATMs and 600 EFTPOS
machines), insurance products team and call centre. My personal
responsibilities are best generalised as being responsible for leading
and inspiring the various business units that report to me.

Is it difficult living and working in another culture?

Living and working in another culture presents many challenges but
is extremely rewarding. I enjoy the fact that there is a new routine to
daily life. While some of the comforts of life may be missing, the new
people, places and experiences compensate.
detour
What is it like to live in Fiji? Interested in working
overseas? Check out Careers
I am based in Suva, Fijis capital, which is on the eastern side of Viti FAQs Global Careers.
Levu. This is the wet side of the island and we do not receive as much www.careerfaqs.com.au
sunshine as many people would think. I am fortunate that my role
allows me to travel around Fiji to visit our branches.

97
 Banking

MYTH This means I have the pleasure of viewing one of the great travel
destinations in the world on a regular basis. My visits see me
travelling through the countryside of Fiji, which is just as beautiful as
banking is boring the palm-lined white sandy beaches that Fiji is renowned for.

How is it different from Australia?

There is a slower pace to life in the Pacific. This is welcomed, but it
It can take you all can also prove frustrating at times. I certainly work as hard as I did
over the world and
fact

previously in Australia. Developing countries can have a real energy

provide unlimited
career opportunities. and it is satisfying playing a role in assisting with the development of
communities via ANZs many community-based programs. They allow
the staff at ANZ to really feel that we are making a difference to the
communities in which we operate.

What do you like most about your job?

Coaching and developing people. This is the essence of a good leader.
I enjoy the process of assisting good performers to be great and poor
performers to be good.

Monday Thursday
Review previous weeks performance data Branch visit
Review competitor activities Lead sales skills training program
 dministration issues
A
School board meeting Friday
Review broader corporate objectives and develop
supporting strategies
Tuesday Review execution and performance of current projects
Weekly business meeting with other business Prepare action plan for next week/month
unit heads

Review execution and performance of current projects Weekend

Coaching of staff A few hours of work/research
Spend time with family
Interviews for vacant positions
Outdoor activities with Rucksack Club: sea kayaking,
river rafting, picnicking, trekking

Wednesday
Branch visits

Rucksack Club meeting

What do you like least?

People who are fixated on job titles.

Whats the strangest work experience that you have had?

Being required to provide coaching feedback on sales interviews
that are conducted in Hindi. My previous exposure to the language
had been confined to the occasional Bollywood blockbuster at the
cinemas in Suva.

98
 Insider info

What qualifications do you have?

In 2005 I completed an MBA with Deakin University. I considered this
course to be very valuable and relevant to any management role.

Whats an average salary package for your job?

$130 000 to $165 000 per annum.

Any advice for young people looking at a career in banking?

The banking and finance industry is dynamic and presents
tremendous opportunities for people with a wide variety of interests
and skills.

How does your job allow you to achieve the lifework balance
that suits you?
Managing lifework balance is a challenge for anyone in a
management role. I believe that the key to success is finding a job that
you are passionate about, then you will find achieving balance less
of an issue. I constantly find that the life component goes through
bursts where I concentrate on family, then study, then fitness, then
general interests. In any case, thats my reasoning for not improving
my golf handicap over the past 10 years!

What do you do in your spare time? in

For fun outside of work, I am a committee member of the Rucksack brief
Club as well as a member of the board of the International School here Head of Personal
in Fiji. Financial Services

$$$  0165K
13
Where to from here? quals MBA
ANZ is committed to growing its business in this region and, as I hrs/wk 40
thoroughly enjoy my current role, I believe that other opportunities in lifework 8/10
the Pacific will present themselves. A role as General Manager of one flexibility 9/10
of ANZs businesses in the Pacific would be appealing. life motto never spend time
wondering what if?

99
 Banking

cv research officer Shane Oliver Head of Investment Strategy

>> economist >> senior and Chief Economist, AMP Capital
economist >> chief
Shane joined AMP in 1984 as a research
economist >> head of
officer, when the companys core focus
investment strategy and
was insurance. Since that time hes
chief economist
watched the industry evolve while
moving up the ranks to his current
role as Head of Investment Strategy
and Chief Economist. Shane plays a
major role in determining AMP Capitals
investment strategy and looks after
$16 billion in managed funds.

q&a
What do you do in your current job?
I am responsible for the overall investment performance of diversified
funds, AMP Capitals broad investment strategy as well as economic
and market analysis and forecasting. Another part of my job includes
giving client presentations at both an institutional and wholesale
level. I talk to the media as I am AMP Capitals main spokesperson on
investment markets. Most of my job involves economic analysis and
forecasting. I study economic trends around the globe and in Australia
to ascertain where the best places are to invest. This could include
cash and property as well as stocks.

Whats your work environment like?

I work with a team of six analysts. Our office is open plan, so were
not that far from the numerous teams of analysts and our interaction
with them is regular and informal. Generally things are pretty free and
easy. You can wander around and get into a discussion. We interact
throughout the day with a lot of ad hoc discussion. We also have
regular meetings one or two a week as a team, where we consult
different issues.
Obviously, I interact with a lot of people within AMP who have an
interest in what my team has to say. I produce a number of articles and
reports that are distributed throughout the business and to clients.

What do you like most about your job?

My job has a high level of variety to it. I get a good mix of economics,
which is my first love, investment management and interaction with
numerous people. Theres an element of backing your view and adding
value to clients funds, which is obviously challenging. Plus I also get to
go out and present to clients and the media, which I truly enjoy.

100
 Insider info

What do you like least?

Having to keep track of lots of events and data releases. It seems to go
from one event to another, whether its developments in global politics
or interest rates going up. To some degree, Ive seen it all before and it
seems to go around in cycles every so often.

Does it make it easier for you to predict which way markets

are going to go?
I think it does make it easier. If you didnt know, youd make knee-
jerk reactions. There have been numerous events in the Middle East,
and the markets always think disaster. Nine times out of 10 nothing
happens. It certainly helps, but each event has its own little nuance.
Theres still a degree of challenge to it.

Thursday
l
Monday C heck overnight markets and globa
Work from home developments
ss markets/ her we
P hone team members to discu Discuss with team members whet
es
projects need to make any investment chang
Work on research reports Send out Olivers Insights
Phone calls from media Attend team leaders meeting
t
Bike ride Start writing weekly market repor
Tuesday Phone calls/interviews
global
Check overnight markets and Client presentation
ings
developments, check emails, meet
ces briefi ng meet ing Friday
client servi global
Weekly Check overnight markets and
Phone calls/interviews developments
her we
Discuss with team members whet Discuss with team members whet
her we
es
need to make any investment chang need to make any investment chang
es
Insig hts (regu lar client out
W
 ork on Olive rs Finish weekly report and send
note) Attend project meeting
ons
Prepare charts for presentati Start writing weekly market repor
t
Wednesday Weekend
global report
Check overnight markets and Check markets, update weekly
a
developments (client version) and talk to medi
ing ds, uni
Weekly asset allocation meet Socialising with family and frien
her we a
Discuss with team members whet homework (probably 6 hours), watch
es ds
need to make any investment chang baseball final, brunch with frien
Work on Olivers Insights
ons
Prepare charts for presentati

Part of your job involves talking to the media and investors.

Do you enjoy this aspect?
I generally enjoy that part. Journalists often ask questions that help
you think through an issue further. I think theres value talking to the
media and clients because it can make you think more deeply about
things than youd otherwise have done. It helps to keep me grounded
and out of the ivory tower!

101
 Banking
glossary
Asset classes means:
different types of
investments like stocks,
bonds and money markets.
in
brief
Head of Investment Strategy
$$$ 200K+
quals BA (Hons), PhD,
Macquarie University
hrs/wk 54
lifework its very important
flexibility 8/10
life motto be nice to people
if not it will come
back and bite you
102
Whats an interesting project you are working on?
For the past year weve been working on an innovative global asset
investment fund product. Its very different to the typical Australian
shares-only kind of managed fund. The project involves all aspects
of getting the product up and running from scratch. An important
part of this process is to make sure that the key investment drivers
are working so this involves a lot of research and back testing to
make sure our process is generating the right signals. Obviously,
the goal is to generate higher returns for clients who invest their
money in the fund. However, its also important to be able to compare
its performance with a suitable benchmark or market index to give
investors a fair insight into how its tracking.
What is the salary package?
Around $200 000 plus.
Do you have any specific qualifications?
I hold a Bachelor of Arts in Economics completed with Honours in
1982 from Macquarie University. I actually received an Australian
Postgraduate Research Award and continued to study full time after
graduating from my Master of Economics in 1983. But after I started
working at AMP, I studied part time. In 1985, I transferred to a PhD,
which I completed in 1991 from Macquarie University. I also have
a Graduate Diploma in Applied Finance and Investment from the
Securities Institute of Australia.
What aspects of banking interest you?
Im always interested in the way markets unfold over time. Theres
always something to learn. Also, there are always new asset classes,
offering different ways for people to invest, coming up which are
interesting to look at.
How has the industry changed?
My view is that the industry has become more positive. When I
started at AMP, it was about managing peoples life insurance,
and superannuation was relatively small. Now there is a lot more
dynamism and openness in the industry, and its also a lot more
accountable. I think the markets become much more dynamic, in the
sense that its been opened up to the world. We can invest anywhere
in the world now.
How is your lifework balance?
Its still a challenge. Its about having to get the work done. I have to
do a bit of work at home, for example on Saturday mornings after the
US markets have closed, but then I work Mondays from home, which
helps. I have to keep up with a whole range of events and indicators,
which makes that difficult.
Whats your favourite pastime outside of work?
Ive been into boating since I was a teenager. I have a couple of boats
that I like to enjoy when I have a chance.
 Insider info

Effie Zahos Deputy Editor, Money cv graduate recruit,

Magazine Westpac >> customer
service manager >>
Effie spent seven years working for
product sales manager
Westpac, starting out as a graduate
>> senior researcher, the
recruit. During this time she worked
Money show >> deputy
in many positions, from being a bank
editor
teller to setting interest rates on deposit
products. However, she was concerned
that her view of the industry was too
narrow.

Effie then took a role as senior

researcher, working for Paul Clitheroe on
Channel Nines Money program. Five years later she moved over to set
up and work as deputy editor of Money magazine. She has been there
now for nearly seven years.

q&a
How did the opportunity arise to work in TV?
I had a really good overview of the financial industry, but I only saw
it through the eyes of Westpac. I was always worried that I could glossary
grow old and get the gold watch in the banking industry. Then the
Gold watch was:
opportunity came along to work with Paul Clitheroe on the Money
show. He wasnt looking for a journalist, which was great because I the traditional gift given
to a long-term or retiring
had no background in journalism. He really wanted a financial analyst
employee in the days
from the industry who would know the stuff inside out and translate when people worked for
that into TV. Thats how I moved into TV. one company all their lives.
What made you move into magazine journalism?
The Money show was doing really well and the idea of a magazine
was always floating around, but it wasnt until 1999 that it became
a reality. When it did I thought This would be great. While TV is an
effective medium to reach an audience, each story is only three or
four minutes long and you cant be very analytical. Magazines allow
you to really explore the topic. So I moved over and helped set up the
magazine. I was fortunate because I knew the insides of the show
and they needed someone who could translate the stories into the
magazine.

Do you think a lot of your success is due to luck?

Id hate to say it was all luck because I work very hard at what I do. Its
also about growing and gaining the skills that you can adapt to other
situations thats been the key benefit for me.

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 Banking

What aspects of banking interest you in particular?

I really enjoy the business side of making the magazine survive. With
a brand like Money, its a commercial business, so we do survive on
ads. But at the same time, one of Moneys strengths is that we are
independent. Advertisers do not sway any information that goes in
Money. Its a tough industry. Australia has so many magazines and
ours is a very specialised magazine. Its a huge challenge each month
to make sure that the magazine sells.

What do you do in your current job?

My role has many different aspects. Theres the editorial side,
marketing side and sales side. Primarily, I ensure that we are delivering
the right stories, and fundamentally make sure that theres integrity in
those stories. At the same time, I want to make sure that the magazine
is selling or else I dont have a job! Its changed a lot since the day
I came over and thats why its been so great. These days Im heavily
involved in promoting the brand. Ive been in the role for six or seven
years and youd be pretty bored if it was the same job all that time.

es
n w oo d a t M oney Magazin6
ee 00
ith Ross Gr December 2
Effiffiie w Best awards lunch in
Best of the

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 Insider info

With your work experience, where else could you work?

My comfort zone and passion is finance and I dont see myself moving
out of this area. Working for a brand like Money, I have a great
understanding of the industry and products because Ive been writing
about them for so long. I could fit comfortably into any corporate
environment not that I would. I really enjoy working on the consumer
side. I feel that with the skills I have whether theyre writing,
reporting, TV or radio exposure I can jump into any form.

Do you have any specific qualifications?

I have a degree in Economics from the University of Queensland. But
have I used my degree? Well, I havent been setting out any economic
policies or anything like that! However, the discipline and the
grounding thats involved in getting a degree has been helpful. Theres
definitely an advantage in doing it.

Are there good job opportunities for finance journalists?

A good finance journalist, yes, definitely. Finance is a specialised and
difficult subject. If you dont know it, youd have to be a damn good
journalist to be able to bluff your way through it.

Was it a culture shock moving out of banking?

With Westpac I worked on the 27th floor in Martin Place, Sydney, and
had gorgeous views of the Harbour Bridge. At Channel Nine I was
working in a run-down cottage in what used to be a bedroom. The only
view I had was of this massive tower, which I thought was going to
give me cancer! It was a huge jump and I had to take a big pay cut.

Whats your work environment like?

The beauty of being in this environment is its very flexible. I work in a
team with very creative people who are great to work with and bounce
ideas with. Im able to work everywhere. I have an office at home, an
office in the city and I work over at Channel Nine.

What do you like most about your job?

Challenging the industry. Im looking at everything from a consumer
point of view. I like to analyse something, write about it and say to our
consumers Hey, weve looked at this and we think this is great, or
Watch out for that trap. I still get off on that.

What do you like least?

Deadlines! Even though were a monthly magazine, were a small team
and we have to get a lot out. Sometimes I dont have the luxury of
being able to do something as perfectly as I may want.

Whats the salary like for your type of job?

Any journalist who specialises in a field is generally paid more than a
mainstream journalist. Id be hesitant to give you my salary, because Im
unusual in that Ive jumped into TV and print. A good financial journalist
just starting out would be looking at between $40 000 and $50 000.

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How has banking changed?

At the end of the day bankers are salespeople and have less knowledge
of their topic than youd think. A lot of people are recruited from a sales
background these days and I wouldnt rely on their advice alone.

What do you wish someone had told you about banking

before you started?
I should have followed my own advice and put $50 a week into
a managed fund! I never expected that there would be so much
excitement in the finance industry.
in
brief How is your lifework balance?
Deputy Editor I have a four-month-old and a five-year-old. Its definitely hard,
especially if you work from home sometimes. Thats a trap because
$$$ No comment!
quals B Econ, Uni of you can end up neglecting your own personal life. But the good thing
Queensland about being a journalist is the flexibility. There is no way I could
hrs/wk would hate to handle doing what Im doing if I had to work a nine-to-five job.
say it varies
lifework Im working on it Where to from here?
flexibility 9/10 Im very happy with how my role is shaping. I get to influence what
life motto enjoy what you goes into the magazine and impact the magazine as a business. I also
do and try to
enjoy representing the magazine. But saying that, look, one day Id
be the best
like to be editor!

106
 Ready, set,
go for it!

What qualifications do I need?

A degree is always going to help your career in banking. In some
areas, tertiary qualifications are a must. However, not all areas of
banking require a tertiary education. There are opportunities to get a
job, and progress internally, in banking without a degree. If you want
to back up your career with some lovely letters after your name, you
have many letters to choose from.

There are definitely opportunities for people to develop in their

careers in banking, with or without formal qualifications.
Elizabeth Brabyn Executive Manager, Bank of Queensland

According to the Finance Sector Union, people working in the finance

sector are now more likely to hold a degree. The 2004 Australian
Bureau of Statistics survey found that between 2001 and 2004 the
number of employees working in banking and finance without a
post-secondary qualification fell by 56 300. Yet during that time, the
number of employees with post-secondary qualifications increased
from 44 to 60 per cent.

Want more quality career resources

from Career FAQs for FREE? Click here 107
 Banking

If you dont want to study, but you have some great customer service
or sales roles on your rsum, you are already well positioned to start
your career within a financial institution. If you do want to study, you
MYTH can choose from a range of courses from a great range of institutions.
you need a finance Youre not restricted to finance degrees from a university either. There
degree to work are other relevant degrees and qualifications that can help you get
in banking your career started.

Financial organisations
look at hiring people with
Study options
fact

a range of experience
and qualifications. A career in banking offers the ability to choose from a range of
qualifications and experience. If you are looking to study before
embarking on your career, you can choose between:

n university

n TAFE

n industry courses.

Whichever you choose, each option offers courses specific to working in

the banking industry. You can also choose to study specific areas within
the industry, such as mortgages, financial planning, marketing or
front-line management. Choosing what you want to do is the first step.

What takes your fancy? What do you love to do most? If youre a

numbers person, you can choose from qualifications in accounting,
economics, securities trading or commerce in general. If you see your
future working in computers as well, then combine your degree with
information technology so you have even more choices of where
to work. If you never liked maths, but enjoy working with people,
a qualification in marketing or human resources, with a minor in
banking or finance, can place you well towards working in the banking
sector by supporting the many products offered or all the people they
employ. You have a lot to choose from!

University courses
Just about every university in Australia offers a business course of
some form at undergraduate level, as a general business degree can
offer so many options in starting out in your career.

Most people who join us are tertiary qualified. Certainly

business, economics, commerce and marketing degrees are the
most common for people who join our organisation. There are
also opportunities for people with IT qualifications.
Craig Williams Head of Resourcing, Citigroup

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 Ready, set,
go for it!

Here is a list of the qualifications achieved by those interviewed in the

Insider info section in this book.

Job title Qualifications

Currently studying Bachelor of Commerce and
Service Consultant
Bachelor of Business (Administration), University of South Australia
Team Leader Currently studying Diploma of Banking & Finance, RMIT
Manager (head office) Bachelor of Business, University of Western Sydney
Relationship Manager On the job
Risk Executive Bachelor of Commerce, University of Wollongong
Branch Manager Bachelor of Commerce (Marketing), Curtin University
Customer Service
On the job
Supervisor
Finance Analyst Bachelor of Engineering and Masters degree in Finance, RMIT
Customer Loyalty
Bachelor of Commerce (Marketing), University of Wollongong
Manager
Deputy Editor Bachelor of Economics, University of Queensland
Marketing Manager Postgrad Certificate in Management, University of Wollongong
Head of Personal
Master of Business Administration, Deakin University
Financial Services
Diploma of Applied Science, University of New England
Graduate Certificate Master of Business Administration,University of
Regional Manager
Queensland
Diploma in Front Line Management, Southern Queensland TAFE
Bachelor of Arts, Master of Business Administration, Advanced
Marketing Manager
Management Program, University of Lancaster, INSEAD
Team Leader Life experience
HR Consultant Bachelor of Behavioural Science, Flinders University
Bachelor of Arts in Economics (Honours) and PhD, Macquarie University
Head of Investment Graduate Diploma in Applied Finance and Investment, Securities
Institute of Australia
Mobile Lending
Started but never finished
Manager
Career FAQs qualification snapshot, 2007

The table shows that most of those who studied for a university
degree chose to major in business, whether it was commerce,
business or finance. The youngest two banking professionals started
their course only after they started their career as a way of helping
them progress and expand their current skill levels.

When screening applications, we also like to see if a candidate

has supported themselves through their studies. This
demonstrates that the person is not just a bookworm, but that
theyre well balanced, organised and efficient.
Jarrod Stooke Graduate Program Manager, ANZ Bank

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 Banking

Thats not to say you have to have a commerce or business degree,

although that appears to be the most obvious course for banking
professionals. Employers across the finance and banking sector will
look at applicants from various backgrounds for entry-level positions.
Whether your degree is in communications, human resources,
computing or arts, a degree demonstrates to a prospective employer
that you have the ability to undertake and commit to a three-year
course. You have already demonstrated that you can work hard,
achieve goals and use your brain!

Possible fields of study for a career in banking could include, but are
not limited to, some of the study programs listed in the table below.

Business IT Human Marketing

resources
Business Information Human resource Communications
technology management
Commerce Journalism
Engineering Psychology
Economics Marketing
Computer Industrial relations
International science Media
business Social science
Advanced Public relations
Security analysis science Arts
Arts
Social sciences Behavioural
science
Fields of study for a banking career

Therefore, if you already have a degree in a field outside of business,

it will not inhibit you from entering the banking sector. If anything, it
could enhance your chances, depending on the types of roles youre
applying for.

What can I expect to learn?

Most people in banking study a business-related course. Business,
finance and commerce degrees are all similar in terms of their focus.
The types of courses will revolve around accounting and business
information systems, actuarial studies, economics, finance, corporate
law, management and marketing. But what do some of these terms
actually mean?

n Accounting: The language of business its a system that identifies,

measures, and communicates financial information to permit
informed judgments and decisions.

n Economics: A science that looks at the production, distribution and

consumption of goods and services.

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n Marketing: The method of planning, developing and bringing

products and services to the market.

So much of my university knowledge gets applied; just the other

day I was pulling together a proposal and used Porters theory
something that I studied heavily back at uni.
Donny Galella CRM Manager, Virgin Money

The following universities offer either a specific Bachelors degree in

Banking or a major in banking.

New South Wales Victoria Queensland

Charles Sturt University
University of Newcastle
University of New South
Wales
University of Technology
Sydney
University of Western
Sydney
University of Wollongong
Deakin University Griffith University
Monash University James Cook University
Royal Melbourne Institute of Queensland University of
Technology Technology
Victoria University University of Southern
Queensland

Australian Capital South Australia Western Australia

Territory
Australian Catholic Flinders University Curtin University of
University Technology
University of Adelaide
Australian National Edith Cowan University
University
University of Western
Australia
Northern Territory Tasmania
Charles Darwin University University of Tasmania
find out
Australian universities with business courses
more
To get an idea of what types of programs are out there, here are some
www.goingtouni.gov.au
typical university programs offering banking-related degrees.

Bachelor of Business
Many universities offer programs through their Business and
Economics faculty that focus on banking. You can major in banking
and finance when you study for a Bachelor of Business. By doing so,
you are exposed to specific subject matter that will show potential
employers you have a better vocational understanding of how the
international banking sector works.

111
 Banking

Courses such as banking law and lending decisions are particularly

strong for those who want to work in areas such as investment
banking or securities trading.

Bachelor of Business (Banking and Finance)

This course will help anyone looking to start a career in banking and finance,
in particular in commercial banking, investment banking, corporate finance
and stock markets.
Year 1 Accounting for financial decision making
Microeconomics
Business statistics
Managing people and organisations
Money and capital markets
Commercial law
Marketing theory and practice
Year 2 Financial modelling
Commercial banking and finance
Financial management
Banking law
International business
Retail management principles
Year 3 Treasury management
Investment and portfolio management
Lending decisions
International banking and finance
Strategic business
Buyer behaviour
Example of subjects studies in a Bachelor of Business

The cost of this program for a Commonwealth-supported place is in

the region of $7285 per year, or just under $17 500 for those paying
the full annual fee. It takes three years to complete, based on full-time
study.

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 Ready, set,
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Bachelor of Finance
An alternative to a Bachelor of Business degree is a Bachelor of Finance.
Many of the units will be similar to the units in a Bachelor of Business
course but Bachelor of Finance courses are specifically designed to
enable graduates to find immediate employment in all areas of the
finance industry, including banking, financial planning and investment
consulting. They also offer the option of majoring in different
specialised areas, such as quantitative finance or corporate finance, or
following a more general study program.

Bachelor of Finance
Graduates of this course will be in a good position to gain employment in
trade and merchant banking, investment firms, private and public companies
and government departments.
Year 1 Microeconomics
Macroeconomics
Quantitative research methods
Introduction to financial mathematics
Business reporting and analysis
Accounting for decision makers
Corporate finance
Year 2 Business finance
International trade and investments
Statistics
Financial computing
Financial economics
Regression modelling
Year 3 Options, futures and risk management
Econometrics
Corporate investment and strategy
Mathematical finance
Portfolio theory and management
Money, banking and financial markets
Subjects studied in a Bachelor of Finance

The course takes three years to complete, based on full-time study.

The cost for students paying the full annual fee is currently around
$13 400. Commonwealth-supported places cost $7200 per year.

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 Banking

TAFE courses
TAFE is a highly viable option for those who dont want to undertake
a university degree, but want qualifications to help them start or
progress in their banking career. Another advantage that TAFE offers
is the different levels of achievement. You can study for anything from
a certificate through to a graduate diploma. As TAFE is considered
a vocational study, courses are focused on providing skills specific
to the course outcome, so you study only what you need to without
having to study electives that are required by universities.

As TAFEs are located throughout metropolitan and regional areas

around the country, they may be more accessible than a university.
TAFE will often give recognition to work experience, so you can
start a program at an advanced level, even if you dont have formal
qualifications. If you decide that you want to pursue a higher degree,
you can use your TAFE qualifications to move to a university program.
This can be helpful to those who didnt get into the university course
they wanted out of high school. Other differentiators are the ability
to take classes at night, a more diversified student base and often
smaller class sizes.

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Finally, TAFE can be an affordable way to study, with courses costing

annually from $300 for a certificate through to about $1300 for a
Graduate Diploma. This depends on the course, the hours you spend
studying and which state TAFE you study at. Nationally, an average
course fee is usually around $900 a year.

What can I expect to learn?

Most TAFEs around Australia offer a Certificate IV or Diploma in
Financial Services. This level is ideal for those who want to enter the
banking industry at a branch level but have no tertiary qualifications.
However, if youd rather study general business skills and dont want
to limit yourself, you can choose to study frontline management,
accounting, marketing or computing. Here are a few examples of the
courses on offer.

Certificate III in Financial Services

This program offers jobseekers a better chance at an entry-level job
in a banking branch. Those already working in an entry-level banking
role can demonstrate their dedication to help them move more quickly
into a supervisory role. It provides an understanding of managing
and motivating staff, while addressing the complexity of the products
offered these days by financial institutions.

Certificate III in Financial Services

Career prospects include working in a branch within customer service and
progression towards a team leader or supervisor level.

First Work within a financial services context

semester Develop workplace communication skills
Work as part of a team
Use technology in the workplace
Apply health and safety practices
Maintain daily records
Second Prepare and bank receipts
semester Process credit applications
Create and use spreadsheets
Deal with customer enquiries and complaints
Prepare financial reports
Provide sales service
Example of subjects studied in a Certificate III in Financial Services

This TAFE course takes six months to complete full time. Due to
its focus on the sales environment now prevalent within banking
branches, employers will look favourably on anyone who has obtained
this certificate.

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 Banking

Certificate III in Business

This course is not specifically designed for banking and finance,
but offers a solid grounding for those who want to make a start in
the branch network of a bank, especially into managing. It offers a
selection of courses related to managing a customer service-based
business. Six units are needed to receive a certificate, with a selection
listed in the table below.

Certificate III in Business

Career prospects include working in a branch or customer service role as a
supervisor or manager. The course can be done part time in a year or full time
over six months.
First Maintain workplace safety
find out
more semester Organise personal work priorities and development
Support operational plan
www.tafe.nsw.edu.au Second Participate and contribute to team effectiveness
semester Support continuous improvement of systems and processes
www.tafe.wa.edu.au
Deliver and monitor customer service
www.tafe.sa.edu.au
Example of subjects studied in a Certificate III in Business
www.tafe.vic.gov.au
This course can be done as part of a traineeship, which means
www.tafe.qld.gov.au
that it can be combined with work experience in the relevant field.
www.centralian.nt.edu.au
Traineeships are similar to apprenticeships, the difference being that
www.cdu.edu.au
traineeships usually last only one to two years, where apprenticeships
www.cit.act.edu.au
last up to four years.

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 Ready, set,
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Diploma of Financial Services

A TAFE Diploma of Financial Services takes 12 months to complete and
will give graduates a greater chance at career progression through
the branch management structure. As several of the courses apply
to managing a business generally, it will help you move into an office
management role outside of banking.

Diploma of Financial Services

Career prospects include working as a lending officer or customer
service officer.

First Learn about workplace health and safety practices

semester Apply principles of professional practice in the financial
services industry
Develop and implement operational plan
Provide leadership and motivation in a workplace team
Evaluate credit applications
Match banking products with the needs of small business
customers
Second Develop workplace communication skills
semester Use technology in the workplace
Manage staff performance to achieve strategic targets
Provide financial and business performance information
Manage banking and service strategy for small business
customers
Provide business advisory services within a financial
services context
Example of subjects studied in a Diploma of Financial Services

This diploma course will help anyone who wants to move into the
lending/sales side of the business as well, as youre learning about
how banks evaluate loan applications and devise strategies regarding
financial services within a branch.

Industry courses
There is no shortage of courses within banking and finance
organisations in Australia. Whether youre looking for a vocational
course to help you get your foot in the door or want a postgraduate
diploma in a specialised area, youll find it at a number of
organisations. In particular, we have taken a closer look at the courses
offered by FINSIA and the FSU education program.

117
 Banking
glossary
PS146 means:
Policy Statement 146, the
licensing requirements for
those who offer advice on
financial products..
118
FINSIA
FINSIA the Financial Services Institute of Australasia offers
courses nationally to approximately 19 000 students. Its courses
are accredited and respected within the industry, as it is a
well-established institution. Courses range from open-entry to
postgraduate level, including a Masters program.
Those looking to start out in the industry can choose to do the
Diploma of Financial Services or Diploma of Lending. There are four
compulsory subjects required to complete the diploma, so you
can complete it in under a year. Courses also include a mentoring
program. The cost of a course is about $700, along with a $250
registration fee for new students.
I have experience in the financial services industry both in
Australia and the UK, yet very little in terms of professional
qualifications. I have found that FINSIA has helped enhance
my qualifications, as the course is both informative and
nationally recognised.
Andrew Brackley Team Manager, Commonwealth Bank
Those already in banking who want to specialise in financial markets
can go on to study a Graduate Certificate in Applied Finance and
Investment. To enrol, you need to have completed a previous FINSIA
diploma or university degree. You can combine your course with
PS146 compliance training by choosing subjects that are necessary
for PS146 compliance. The cost of a Graduate Certificate in Applied
Finance and Investment is $975 for members, with a $250 registration
fee for new students. If you would like more information about PS146
go to Appendix 3.
FSU education program
The Finance Sector Union has developed its own educational program
that is mostly available by distance education. Because the program is
available online, it is very flexible, so you can study and complete the
course within a time frame you set for yourself. Available courses include:
n Certificate IV in Business (frontline management)
n Diploma of Business (frontline management)
n Advanced Diploma of Customer Contact Management
n Diploma of Project Management.
 Ready, set,
go for it!

The Advanced Diploma of Customer Contact Management, for

example, is available to students who have completed their Higher
School Certificate, have six months experience in a call centre and
some experience as a supervisor. The cost for this course is $1300 for
non-members, with a registration fee for new students of $192. The
course can take anywhere from one to three years, depending on how
much time youre able to contribute.

Other providers
If you are looking to push your career in banking to the next level,
a certificate or postgraduate course is a great way to show your
employer that you are committed to your career and to keep your
skills updated in a fast-changing industry. But how do you know which
course is the right one?

To start with, make sure your course is accredited. These are courses
that comply with agreed standards within the Australian Qualifications
Framework, and are therefore recognised by your employer. Here are
a few accredited training organisations who specialise in courses for
finance professionals:

n The Chifley Business School

n Australian Institute of Credit Management

n Tribeca Learning

There are many more providers of finance education a good place

to start looking is ASICs website. If its listed on their website, you
at least know that it is an accredited course. Its also useful to talk
to banking managers and HR professionals to see what courses they
think are best, and to find out what specialty areas are in demand.

Before you undertake a course, make sure you ask yourself some
questions:

How much time can I put towards studying? find out

more
n

n How much can I afford?

n Do I prefer to study face-to-face or by distance education? www.finsia.edu.au
www.fsunion.org.au/career
Its also important to ensure you have researched thoroughly the area
www.chifley.edu.au
in which you want to specialise. Is this an area that is growing? Are
www.aicm.com.au
there a lot of job prospects in this area?
www.tribeca.com.au

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 Banking

Talking to people who have already done a course can help. Your
manager (if you are already working in banking) can also help point
you in the right direction.

Do I need postgraduate qualifications?

Although you dont need postgraduate qualifications to get into the
banking field, those who want to switch careers into banking might
find that a few extra letters after their name might make them stand
out from the crowd. If you want to move into a field that requires
specific qualifications, such as information technology, human
resources or marketing, a postgraduate degree would be required for
a career shift.

The most common degree in banking for career progression is a

Master of Business Administration (MBA).

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This degree takes about three years to complete part time and takes
a high level of commitment. It is generally an expensive degree to
obtain, although some employers will help pay for an MBA. Those
who have achieved the status of an MBA say that it moved them up
the career ladder further and more quickly than they could have done
without it. Some of the most reputable MBA programs available in
Australia are listed below in no particular order.

n Melbourne Business School

n Australian Graduate School of Management

n Macquarie Graduate School of Management

n Monash Mount Eliza Business School

n University of Queensland

n University of Adelaide

The cost of an MBA will vary from school to school. To give you an
idea, the cost per subject at the Melbourne Business School was
$2500 in 2006. According to the Melbourne Business School, youll
make your money back within a reasonable time, with the average
starting salary for its 20022004 graduates coming in at over $105
000. If the price tag for the degree is too steep for you and your
employer wont help you pay for it, you might also qualify for help
from the Australian Government.

How do I get that job?

So you want to start your career in banking but how do you actually get
the job? If youre in the final year of uni, a great way to start is by applying
for a graduate program. Or you can just apply directly if you already
have your diploma or have some experience in the banking industry.

But what if you dont have any qualifications or experience? There are
still opportunities in the banking sector, as long as youre willing to
start in an entry-level position.

Whichever category you fit in qualified or inexperienced its

important you present yourself as positively as possible. The selection
process, no matter which way you go, is strenuous and thorough.
Make sure youre prepared for it.

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 Banking

How are people recruited?

There are a number of ways to get your career started in banking. The
most common methods of recruitment are:

n recruitment agencies

n graduate programs

n word of mouth

n corporate websites and direct advertising

Banking institutions use more than one of the above methods to

recruit people. Which method they use depends upon the types of
roles theyre trying to fill. Graduate programs are a way to source new
talent into areas that require qualifications, where word of mouth is
most often used to recruit staff for branch-level positions.

We are always looking at getting our name out there by word

of mouth, newspaper ads, Internet, recruitment consultants or
associations that let people know how to contact us.
Craig Williams Resourcing Manager, Citigroup

Because banks use many ways to recruit staff, jobseekers need to try
a couple of ways of job searching. By using the different methods of
recruiting, you can find a job quicker and more effectively.

Recruitment agencies
Historically banks have used recruitment consultants to source and
present desirable candidates. Many recruitment companies have
specialists who focus solely on this industry. Although they mostly
help find and recruit specialists or executive positions, recruitment
consultants will also manage volume-recruiting exercises for
processing and call centres.

Most recruitment agencies have their own websites with job search
capabilities. All major recruitment agencies will have printed ads in
relevant newspapers as well as the following websites:

n www.seek.com.au

n www.mycareer.com.au

n www.careerone.com.au.

If you go through a recruitment agency, typically youll have to submit

your rsum and if the recruitment consultant thinks you have
potential, they will call you to organise an interview.

122
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go for it!

At the interview they may tell you more about the advertised role.
They have to ask your permission before they submit your rsum to
any employer, so you cant inadvertently apply for any jobs you dont
want.

If youre unsuccessful initially with a specific job, recruitment agencies

will keep your rsum on file, and will contact you if any other
jobs come up which match your criteria. If you are successful, the
recruitment consultant will set up interviews with the employer and
manage the process for you.

Recruitment consultants are a great source of career advice. They

can help you tailor your rsum to look more professional and offer
advice for job interviews. Be aware, however, they are usually paid
by commission for filling jobs, so make sure you dont accept any job
offer if youre not sure its right for you.

Listed below are some recruitment agencies that specialise in

banking.
n Hays Banking n Michael Page International
n Robert Walters n Hudson
n Link n Tanner Menzies

The best way of maximising your likelihood of success in any job

search is to find the leading recruitment agencies in your field and
register with all of them. That way youre on all their books and they
will contact you when a relevant job is available. If you have skills that
are in high demand, you may have them knocking down your door!

Aboriginal Employment Strategy

Over a decade ago cotton farmer Dick Estens began the
Aboriginal Employment Strategy (AES) in Moree. Since then it has
grown to become a successful not-for-profit organisation, which
places and mentors Aboriginal people in employment.

The strategy has strong partnerships with corporate Australia,

building bridges between big businesses and the Aboriginal
community. ANZ, the Commonwealth Bank and The Macquarie
find out
Bank Foundation are just a few of the companies involved. more
It now operates a School Based Traineeship Program where high For more information on
the Aboriginal Employment
school students can complete a traineeship while studying for
Strategy visit
their HSC, marking the way for future career opportunities once www.aboriginalemployment
they leave school. strategy.com.au

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 Banking

Graduate programs
Most large banking organisations offer graduate programs and rely
on them as a main source of hiring new graduates. The application
process occurs during the final year of study, with banks accepting
between 100 and 200 university students each year. Its not just
for students in business courses either a variety of degrees and
specialisations are sought. The program lasts 12 months and starts
the year after completion of studies, or sooner. After successfully
completing a graduate program, graduates are placed into positions
within the bank, usually in an area relevant to their degree.

Our graduate program is highly regarded by managers as it

provides a talent pool of bright people who are hard working, show
initiative and have great ideas to offer our business. In fact, a
number of our senior executives joined our team as graduates.
Simone Robertson Development Programs Manager, Commonwealth Bank

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Banks in Australia who offer a graduate program include:

n AMP ANZ
n

n CBA Macquarie Bank

n

n NAB WBC.
n

There are two types of graduate programs, generalist or specialist.

Generalist programs usually entail a rotation through various
businesses within the bank, including customer-facing roles, as
well as project management work. Specialist roles are focused on
graduates with specific degrees for areas such as agribusiness,
business banking or risk management.

We look at over 6000 applications, so we want applicants who

are well rounded. We are looking for people who bring a lot
more to work than just their minds. We want to know about
their interests outside of work, such as hobbies and sports or
whether theyve travelled. Successful people are successful in
lots of things not just their studies.
Jarrod Stooke Graduate Program Manager, ANZ Bank

Applications for graduate programs are accepted between February

and April of each year, depending on the bank. You can apply online
through the organisations website, with some offering a tracking
system so you can log into the website to see how your application is
proceeding.

Go for it! The rotation aspect of graduate programs is a huge

bonus! When will you ever get another opportunity to pick
and choose the areas you want to experience in a respected,
reputable company?
Graduate recruit Commonwealth Bank

Most students apply to multiple graduate programs to increase their

chances of success. For example, Westpac receives upwards of 5000
applications for only 120 positions, so screening is strenuous. If an
application makes it through an initial screening, applicants are
typically asked to participate in online testing for cognitive abilities.
A telephone interview might also occur. Those successful then go to
assessment centres, which consist of group exercises, case studies
and presentations. The final screening process includes several
interviews, usually with a panel as well as the relevant manager.
One graduate from Macquarie Bank said the process took nine steps
before he was offered a position in their graduate program.

125
 Banking

Word of mouth
Recommendation by friends and family is a popular way for banking
institutions to find new staff, particularly within the branch network
not least because it means they dont have to pay for advertising or
recruitment fees.

We mostly recruit by word of mouth. We dont have to

advertise very often. Many times we have people who come in
and hand in rsums, which I like. It shows they have gumption
and get-up-and-go.
Mark Johnson HR Manager, Orange Credit Union

If your friend tells you they like where they work and you like your
friend well, theres a good chance youll like it too. Even at an entry-
level position, a banking job can open up more possibilities, so even
the over-ambitious job seeker shouldnt shun it. Theres no harm in
shamelessly exploiting your friends, right?

Corporate websites and direct advertising

Its never been easier to apply for a banking job. Just about any
banking institution that has a website has a careers section, where
you can search for current positions and even apply online. As youd
expect, the bigger the organisation, the more sophisticated their
careers website. For example, the big banks have facilities where you
can lodge an application online, submit a rsum and cover letter and
ask for job listings which fit your criteria to be emailed to you.

Approximately 90 per cent of recruitment is done in-house

without the assistance of recruitment agencies. We advertise
directly on our website, Internet job boards and newspapers to
attract candidates. For roles that are specialist or harder to fill
we engage recruitment agencies.
Eliza Brabyn Executive Manager, Bank of Queensland

Financial institutions will advertise their jobs in newspapers and

on online job sites. Local papers are usually where branch and
customer-facing positions are advertised. Roles for graduates and
more experienced individuals are found in national newspapers, in
particular Fridays edition of the Australian Financial Review. Samples
of these ads can be found in Appendix 4.

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What are recruiters looking for?

Who better to learn from than the experts themselves? We spoke to
four recruiters two from leading banking recruitment agencies, one
from a big bank and another from a credit union to tap their insider
knowledge and find out what theyre really looking for in new recruits.

n Elizabeth Roberts Michael Page International

n Matthew Gowan Hays Banking

n Helen OLoughlin Westpac

n Kristen Bugeja Defcredit

Elizabeth Roberts Michael Page

International
Elizabeth is an Associate Director at
Michael Page International and heads up
the national banking division. She has
spent over 10 years at Michael Page.

Operating for over 30 years, Michael

Page International is a leading
recruitment consultancy. They have 133
offices in 23 countries.

q&a
What are the hot jobs in retail banking at the moment?
There are more opportunities for specialists who are keen to add
value to the technology, marketing and compliance parts of the bank.
People who are keen on working more on the administrative side and
in the branches will see career opportunities as more products are
glossary
offered to consumers.
Performance-based model
What about in the branch level?
means:
Business banking is also an area of opportunity as well. There is
when part of your salary
a need for good client services and mortgage/consumer lending or bonus is linked to the
processing. There is also a trend for banks towards branch managers success of your business
who operate under a performance-based model.

Want more quality career resources

from Career FAQs for FREE? Click here 127
 Banking

What are the advancement opportunities?

The main areas of opportunity are in the specialist areas like
technology, product and marketing. For individuals looking to remain
in the sector, there are always opportunities to progress to team
leader, manager and so on. With the focus on retention and flexibility
in the workplace, good managers are actively sought.

Whats the traditional way of recruiting people into banking?

In addition to using recruitment agencies that specialise in this sector,
sourcing is either done by advertising on the Internet or in local
papers.
Referrals schemes and word of mouth are being used to the utmost
advantage. This is especially the case if the bank has a suburban
processing centre, as most staff members work locally and will know
people in their area.

What are the most common degrees for getting into banking?
Bachelor of Business, Commerce and Economics are useful degrees,
given their focus on financials and commercial environment. Depending
on your area of interest, the majors can be from marketing to law to
accounting. All are equally beneficial degrees to get into banking.

What issues are facing banking at the moment?

The market is becoming more and more competitive and sophisticated,
so banks need to be ahead of the game. Pricing, product range,
technology and staff retention are key focuses at the moment.

What is a banking myth? What is the fact?

Retail banking is sometimes perceived as being the poor cousin of
institutional banking. In fact most of the technology, product changes
and improvements have mostly affected the retail-banking sector.

What makes a person stand out in an interview?

The first five minutes are critical in an interview. Especially if the role is
in customer service or sales, the interviewee needs to create a sharp,
professional presentation. A firm handshake, looking the interviewer
in the eye and answering the questions precisely and confidently all
contribute. At the end, thank the interviewer for their time.

Any message for jobseekers in banking?

Banking is fast-paced, forever changing and becoming more important
to people as they aim to manage their money better. There is more
information these days about what is on offer and how we can better save
for our future, so the importance of retail banking is on the increase.

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Matthew Gowan Hays Banking

Matthew is the Senior Manager for Hays
Banking, based in Melbourne. Since
joining Hays in 1988, he has worked
in both the permanent and temporary
recruitment markets, including hands-
on recruitment of specialist staff for
banking, commercial lending, stock-
broking, superannuation and financial
planning.

Matts current role encompasses

management and training of specialist consultants in the Victorian
team.

q&a
How can you get started in banking?
There are a number of ways of getting into banking. We recruit on
volume for mortgage processing areas. This is a great area for people
who dont necessarily have banking experience.

What are banks looking for?

Typically banks like to see that someone has a proven interest in
the industry, even if he or she hasnt a lot of, or any, relevant work
experience. So a relevant qualification could often be well regarded by
the bank, but there are opportunities for newcomers as well.

What attributes are best for banking?

Good customer service skills are really important, as well as cultural
fit. People with a positive can-do outlook, rather than an everythings
a problem outlook theyre the ones suited to customer service.

Which qualifications are most sought?

A Bachelor of Business in banking and finance, or any business degree
that includes some banking and finance subjects as well.

Is the banking industry growing?

I think its growing. Weve certainly seen pretty solid growth in the last
12 months.

What areas of banking are expanding?

Mostly its the consumer lending side of things. In the last two years
theres been a lot of focus on business banking. While that seems to
be still fairly solid as far as projected growth for the next 12 months,
theres a lot of activity in recapturing branch-level customers, and that
will also seep into the back office.

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 Banking
glossary
KPIs mean:
Key Performance
Indicators. These are
objectives that reflect the
strategic performance of an
organisation, like specific
goals set out for each role to
help measure success.
130
What jobs are in demand?
The housing market is always a big market for employment in
particular, right now, mortgage securities people. There are some
opportunities for people to break into this field if they have good
numeracy skills and an interest in banking.
Theres always a demand for sales people, across all the sectors in the
marketplace, and that continues to be the case from year to year.
How are most banking salaries packaged?
Theres not a lot of diversity there. Its very much traditionally cash
and super. In the development level theres often some car packaging,
but its not compulsory. There arent usually any bonuses below the
business development levels. There might be some cases where you
can get 10 per cent based on KPIs.
Is it a candidates market?
I think that candidates think that its a candidates market. I think the
reality is that there are probably more jobs than there are qualified
people. But banks arent changing as a result. It just means that it
takes them longer to find people sometimes. The negative side is that
people arent willing to stay in their jobs very long. People want to get
their experience and then move on to somewhere else.
 Ready, set,
go for it!

Helen OLoughlin Westpac

Helen is in charge of all in-house
recruitment for Westpac Banking
Corporation in Australia, a role she has
held for 16 months. She manages a staff
of 35, where she works towards hiring and
retaining new recruits for Westpac who
exhibit and enhance the banks culture.
Helen has over 10 years experience in the
banking and finance industry.

q&a
Whats the best thing about working in banking?
Banks are actually great places to work in terms of the mix of people
who you meet. Westpac has a strong culture and a real commitment
to community service and corporate responsibility. Banks offer a great
service and they help people achieve greater wealth for themselves
and their children.

What do you look for when employing staff?

We look for cultural fit. That is, for people who are going to live and
work by our values of integrity, teamwork and achievement. We also
look for people from all walks of life, from a range of ages, groups,
nationalities, abilities and skills.

Do you need to have a background in banking?

What were finding recently is that, rather than looking for specific
technical skills, were looking for people with the right core
competencies. For example, in a sales role there are a group of
competencies that we look for such as drive, sales focus and business
acumen. When we find a person whos worked in another industry but
has core sales competence, we accredit them the specifics required by
financial services legislation once they have joined the team.

What types of jobs are in demand?

We always need people for call centres, branches and in financial
advice. We are currently advertising for financial advisers and I dont
expect this to change in the near future. We also have a fairly constant
requirement for audit, risk and finance people.

What specialties are you most interested in for

your business?
Sales.

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 Banking

How do you suggest people break into banking?

If youre a graduate, our graduate program is a great way to enter the
financial services industry. Another method is to get a role in our call
centre and branch network as its a great way to get some first-hand
experience. Otherwise you can profile yourself on our careers site and
we will let you know when opportunities arise.

What do you feel young people should know about banking?

I think that in the past banking has had a very conservative image, but
actually its a very fast-paced and dynamic environment. It has to be
because the industry has become extremely competitive.

How important are qualifications?

In some roles, such as financial planning, they are essential. For
others, like a customer service role, they will enhance your application
but are not essential.

What is a common myth about banking?

People sometimes dont realise the complexity of the banking
business. Not only do we have a branch network but we also have
corporate and business banking, a trading floor, wealth management,
insurance, corporate banking and business banking. The range of
roles that we have is incredible.

How has banking changed?

It has become much more competitive.

How big is your graduate recruitment program?

We recruit about 120 people every year. Its a boutique program,
which means we take a lot of care of the graduates and give them
rotations through various areas of the business. As a result we have a
great retention rate among our graduates.

How many graduates apply each year?

Around 5000.

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Kristen Bugeja Defcredit

Kristen is a great example of how career
progression can occur within a financial
services organisation. She started
working for Defcredit eight years ago
as a Human Resources Officer. She
continued to be promoted internally
until she became Manager of Human
Resources. Recently Kristen moved
across to become Manager of Marketing
Support for Defcredit.

q&a
What are the hot jobs in banking at the moment?
The hot jobs in banking are primarily roles that require a specialist
skill set such as lending or collection officers. Another area which
is hot is the call centre there are many call centre opportunities
around in the industry at the moment.

What current issues are affecting banking at the moment?

There is a shortage of high-quality job applicants people in the
market for a position that have the great match of skills, experience
and the right attitude. The product knowledge of all staff at the
required level to both meet the job requirements and the legal
requirements of our industry is quite challenging, particularly as we
are a national company.

Is there a banking myth you know of?

That a customer service role based in a branch is just responsible
for cash handling and telling. The reality is that in our company
customer service positions have a large amount of variety and are
responsible for many tasks including cash handling, investments,
insurance, lending and financial planning referrals. Fortunately most
job applicants are pleasantly surprised about this when they attend
an interview.

What are the advancement opportunities?

At Defcredit we actively encourage internal staff to apply for positions
that are available. Due to our size the opportunities for advancement
can be limited in some areas, but staff are also encouraged to try to
take on board more responsibility in their position to demonstrate
their abilities.

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 Banking

How do you feel your organisation is different from other

employers in banking?
We try to differentiate ourselves in the areas of work environment,
culture and job variety. Defcredit has a friendly and committed
working environment, and everyone is passionate about delivering the
best service possible to our members.

Do you have any apprenticeship programs?

From time to time, we hire staff in our branches or in the call centre
under a Financial Services Traineeship. This is a 12-month program
that combines formal study and full-time work. Almost all our trainees
are offered a permanent position at the end of their traineeship.

What do you look for in a rsum?

I look for whether a job applicant has relevant industry experience,
so it is important to highlight this along with your relevant position
responsibilities and major achievements in these roles. I also like to
know why a person has applied for a position and why they feel they
would be the best person for the job.

What do you think young people should know about banking?

Financial services is an exciting industry to join. There are a lot of
opportunities to expand your skills into other parts of the company
and the industry is quite competitive and dynamic, which keeps you
on your toes.

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Stand out from the crowd

Theres nothing more important than a first impression when it comes
to job hunting. Think of it this way with each step you take on the
path to employment, you have several chances to make yet another
first impression. Firstly, theres the cover letter and rsum. These
have to be standouts to get your foot in the door. Then theres the
impression you make over the telephone, when hopefully you get
called up for an interview. The interview is where a potential employer
gets to know the real you, and vice versa. This is your chance to rise
to the occasion and make sure your name ends up on top at every
stage of the recruitment process.

Create an outstanding application

To get your career started, you need to know how to present yourself
in the best possible way, through your rsum and cover letter. If
you dont get these two important items right, youll find the path to
employment a rocky one.

The rsum
The rsum is where you really have to sell yourself. In fact, every
advertisement in a magazine or newspaper is doing the same thing you
want to do in your rsum selling. So, like any good advertisement,
your rsum needs to be professional, polished and error free. Most
importantly, it has to offer one simple message pick me. You really
have to put your strengths and achievements on display.

I look at continuity of employment. I love to see exact dates. I

like to see their education and any qualifications they have as
well, and if theyve done any TAFE courses or anything like that.
It shows someone whos willing to do more to get ahead.
Mark Johnson HR and Training Manager, Orange Credit Union

Your rsum should tell the reader what unique qualities you posses
that make you right for the job. Considering that banks and financial
institutions can receive hundreds of applications for a single position,
it has to stand out. It should detail more than your experience and
qualifications it needs to list your achievements, areas of expertise
and your skills as well.

135
 Banking

Find the right balance between providing relevant information

on your educational/work experience background, without going
overboard. Most employers are busy and receive hundreds of
rsums so if they are too long they will often get overlooked.
Nikki Cooper Manager, Commonwealth Bank

Make it factual, particularly about your employment history and

your most recent position responsibilities and achievement.
Kristen Bugeja Manager of Marketing Support, Defcredit

Your rsum should be clear and succinct, showing a natural

progression in service, administration and sales. Include any
specific achievements on performance or exceeding targets
that will put you ahead of the pack.
Elizabeth Roberts Associate Director, Michael Page International

The HR manager whos reading each and every rsum will look for
relevant experience or qualifications and continuity of employment,
as well as achievements. If youre applying for a customer-based role,
highlight any experience where you worked with people, even if its at
a fast food restaurant. It might not seem relevant, but it shows youve
worked in a customer service environment. If youre after a head office
position and you dont think you have enough experience, focus on
your success in achieving your qualifications and any relevant work
experience. Highlight the skills relevant to that particular position
its important that you tailor the rsum for each job you apply for.

Write why you think this job is suitable for you and why you
think it sounds like an interesting job. One person wrote, Id
like this job because it sounds okay. Thats not going to get you
the job!
Lesley Walker Team Coordinator, Defcredit

Outlining your key areas of achievements is the most critical

component of a rsum. People need to be very concise about
what theyre accountable for and what their achievements have
been to date.
Craig Williams Resourcing Manager, Citigroup

Most importantly, be honest. Theres no point in saying youre

something that youre not. It will only embarrass you later in the
interview when you cant demonstrate your knowledge in person. At
the end of the day its a career youre after, not just a job, so youre
better off starting it off right.

136
 Ready, set,
go for it!

The following example is a well-written and well-presented resume.

Michael Candy
30 Francis Street, Randwick NSW 2031 Your name and
Phone (02) 8888 8888 Mobile XXXX XXXX XXXX contact details,
Email: mw@webland.com.au
including email
EDU CATIO N
Higher School Certificate, 1990 Waverley College
Bachelor of Commerce, Credit Average, 1993 University of New South Wales
r/
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ES
REF ERE NC
est.
ided on requ
References prov

You can see a full-sized copy of this rsum in Appendix 5.

No matter what level of work you are seeking, most employers will
take a sloppy-looking rsum as a personal indication of your work
ethic. So make sure your rsum is absolutely perfect in layout,
language, grammar and spelling. It should be easy to read, with
a clean format and structure so the reader can quickly find the
information they want to know. Recruitment consultants and websites
are a great source of information if you need help finding out how to
make your rsum ready for mass distribution!

137
 Banking

Tips: The rsum

n DO spend time working on the layout, sentence structure
and content of your rsum, as a well-presented
rsum can boost your chances of getting the job.

n DO be truthful.

n Keep your rsum to two or three pages (standard).

n Your career history should begin with your most recent

job first and then work backwards.

n If a company you have worked for may not be well

known, include a sentence to explain who they are and
what they do.

n Write each rsum to fit the job that you are going for.

n Keep the master rsum as an electronic file and

update it regularly.

n Keep copies of each individualised rsum for

referencing when applying for similar jobs.

n Consider using a professional rsum writing service.

n DO NOT plagiarise anyones work.

n DO NOT send a rsum that has not been carefully

proofread or waste employers time by applying for
positions in the profession that require essential skills
and competencies that you do not have.

138
 Ready, set,
go for it!

The cover letter

The aim of the cover letter is to show the employer that your
qualifications and experience makes you stand out from the rest at
least enough so they want to continue on and read your rsum!

We look for enthusiastic people who demonstrate that they

can balance university, work and extracurricular activities.
A stand-out application clearly outlines the candidates
experience and achievements.
Simone Robertson Development Programs Manager, Commonwealth Bank

In todays electronic age, its easy to forget about the importance of

the formal letter. A cover letter, no matter how you send it, is your very
first impression. More and more applications are being made online
through job websites and via email. The same rules apply for applying
online as if you were using snail mail. Begin your email message with
your cover letter, including any job numbers and job titles that clarify
where you saw the job advertised.

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 Banking

Be sure to include your email address on both your cover letter and
rsum along with your phone number. Make sure you send both your
rsum and cover letter in a format that is easily accepted by most
computers, such as MS Word.

The following is an example of a concise and well-written cover letter.

Mia Hahn
1/180 Wyndham Street
Your name and
Shepparton VIC 3631 contact details
m_hahn@yahoo.com.au

Employers Mr Sam Jones

Graduate Program Manager
name and Big Bank
contact details 100 Main Street
Melbourne VIC 3000

21 February 2007
Date
Dear Mr Jones

The first paragraph

explains why you are Re: Graduate Program
writing. State the position
you are applying for and After attending your presentation at La Trobe
University last week, I wish to apply for
a graduate position with Big Bank. Big Bank
where you found out due to your strategy for regional growth and
sounded particularly appealing to me
strong presence in the Asian markets.
about it I am in the final year of a Commerce degree
(Banking) and I am particularly
interested in pursuing a career in business
banking. As well as holding a distinction
average, I have been an active member of
the Economics and Commerce Students
Society for the past two years and have participate The middle
d in many events conducted by
the La Trobe Debating Society. paragraphs tell
If you have the My skills and experience at university have
been enhanced by five years as a the employer what
part-time sales assistant at David Jones, a
space, explain the Shepparton Art Gallery and a vacation
recent stint as a volunteer guide at you have to offer.
placement last summer as a Research
why you would assistant with the Australian Prudential and
Regulatory Commission. Highlight your
like to work for Big Bank is a prominent and dynamic global
organisation to which I would enjoy
relevant experience,
making a strong contribution. In addition, the
the employer, and international postings that you offer to
opportunities for variety, advancement achievements
staff as they progress through their
demonstrating careers are very appealing to me. and qualifications
that youve done Thank you for your time and considering me
for a place in your graduate program. I
to address the
look forward to the opportunity to discuss
your research this application with you further. specific selection
criteria
Yours faithfully,
In the final
Your paragraph thank
signature the employer for
here Mia Hahn considering you
for the position

You can see a full-size cover letter in Appendix 6.

The cover letter should be only one page. It demonstrates to the

employer your ability to communicate and present yourself. Most
importantly, it focuses on the relevant areas of your rsum that make
you a good candidate for the position.

Try to define what makes you different and the best person for
the job even just changing the greeting will stand out.
Kristen Bugeja Manager of Marketing Support, Defcredit

140
 Ready, set,
go for it!

Tips: The cover letter

n Present it in business letter format (include the name
and address of the employer as well).

n Tailor the letter to suit the role.

n State what position you are applying for and where you
saw the ad, in the first paragraph.

n Dont start every sentence with I.

n Keep it succinct one A4 page, well spaced.

n Address the selection criteria, using your interests,

relevant achievements, experience and qualifications.

n Include a closing statement.

n Sign your letter. If possible, scan your signature and

insert the file into your letter if you are emailing it.

n Proofread your letter carefully before sending.

n Have a friend proofread your letter too.

How can I stand out at the interview?

Its make-or-break when it comes to the interview stage. Dont be too
nervous the fact that you made it this far means you are on the right
track and only one step away from that dream job.

Bookstores and the Internet are full of advice for people going
through the recruitment process so there shouldnt be any reason
you are taken by surprise by any part of the process. If you are
going to an interview, practise questions with your friends and
family.
Helen OLoughlin Head of Careers, Westpac

Also remember that the interview is your chance to interview the

employer. Its as much about fitting the right personality to the right
culture, and the best fit means both parties employee and employer
will enjoy a successful partnership.

Click here for more industry-specific sample

resumes and cover letters from Career FAQs 141
 Banking

All you need to know about blitzing an interview can be summarised in

the 3 Ps Preparation, Presentation and Performance.

Preparation Presentation
Research the company Be personable and dynamic
Focus on your strengths
Read or skim the annual report youll be less nervous
and any other information.
Develop a rapport with
the interviewer/s
Find out about the structure
of the organisation. Dress appropriately and be
well groomed
Get to know the key Interview Speak clearly
positions and the names
of people in them. 3 Ps Make eye contact
Smile, relax,
breathe!

Performance
Find out about interview techniques
Make sure you answer the question dont get sidetracked!
Be honest in your responses
Talking about mistakes isnt a bad thing if you
show that you have learnt from them

Preparation
There are no excuses these days for not being prepared for an
interview. There are more self-help books and websites on the subject
than you could ever hope (or want) to read. But where do you start?

Find out about the company. Give consideration to why you want
to join. Prepare some examples to standard questions.
Kristen Bugeja Manager of Marketing Support, Defcredit

Familiarise yourself with the companys website, in particular their

newsroom and annual report. Its here that youll learn about the
companys strategy, culture and current issues. Also be sure to look
at the bigger picture, and learn about current issues in the banking
industry, or any specific areas that affect your particular role. Be aware
of any changes in regulation or economic conditions that are impacting
the banking sector. This information can be found online through news,
industry organisations, stock market and stockbroker websites.

You should be able to communicate the latest trends and

know how these affect organisations. Theres so much change
occurring in the industry, you need to do your homework.
Someone who can show they know this will generally stand out.
Craig Williams Resourcing Manager, Citigroup

142
 Ready, set,
go for it!

Anticipate some of the questions that you will be asked. There are
some standard ones, so theres no excuse for not having an answer.
Typical questions include:

n What do you feel you can offer this company?

n What are your strengths/weaknesses?

n Why should we offer you the job?

n Where do you see yourself in five years?

n What is a difficult situation you have faced, and how did you
overcome it?

n Do you work better autonomously or as part of a team?

n Why do you want to leave your present role?

Finally, when the interview is organised, ask who and how many
people you will be interviewed by. There is a good chance youll have
more than one interview anyway, so be prepared for that possibility.
Also make sure you have the correct address and that you know how
to get there!

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 Banking

Presentation
It might be obvious, but make sure you arrive for the interview
with time to spare. Look professional and dress appropriately. You
might want to remove any distracting body piercings and cover up
any tattoos that might distract the interviewer from seeing your
personality and professionalism. It sounds silly, but some employers
are conservative. When you shake hands with the interviewer or
interviewers, make sure you do so firmly. A limp handshake or a
dead fish as they are sometimes called will not put you in good
stead for the rest of the interview.

If I see a confident, well-presented person in front of me, then

I think that is half the battle. First impressions are extremely
important. Someone who strives to deliver great results will
stand out.
David Dunstan Branch Manager, St.George

When youre in the interview, try to develop a rapport with the

interviewers. You can break the ice by commenting on traffic, the
weather or ask them how their day is going in other words, try to make
yourself appear more assertive, and not just another interviewee.

I look for someone who I can see wants to be successful. I

dont look for someone who comes from a banking or sales
background. If they have that experience, thats great, but
people dont want a real sales person when theyre inviting you
into their home.
Erica Elvy Regional Manager, Aussie Home Loans

Finally, dont forget to breathe, make eye contact and smile!

Performance
When youre in the interview remember this is your chance to stand
out from the others. If youve come this far, chances are the employer
already thinks youre able to do the job they are simply comparing
you to the rest of the competition to see who is the best fit for the
company. They are trying to find out what makes you tick and what
attributes and skills you are going to bring to the role. You cant
fake an interview, even if some say otherwise interviewers are
well practised and can recognise a fake easily, so youre only doing
yourself an injustice by not being yourself in the interview.

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 Ready, set,
go for it!

Theyve got to be open, honest and natural. I dont like the

staged people who tell you what you want to hear without really
believing it themselves. After a while you get to pick them out
with a couple of questions.
Mark Johnson HR and Training Manager, Orange Credit Union

To start off, listen actively. Chances are the interview will start with the
interviewer telling you a bit about the company and the role youve
applied for. When you answer any questions, try to speak clearly and
concisely. Try not to speak too quickly or include too many umms. Be
honest and answer your questions without sounding rehearsed even
if you have!

Be prepared with a real-life example think about your

strengths in broad terms and then relate back to how you
demonstrate these day to day. Eye contact, first impressions
and presentation physical and verbal are the keys.
Jodie Matthews Branch Manager, Commonwealth Bank

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 Banking

When appropriate, answer questions citing real-life examples. This not

only shows you are actively listening, but that you are able to apply
prior experience to different situations. For example, when you answer
a question like Have you ever disagreed with your supervisor and how
did you overcome it? you can relate to your academic experiences.

You dont have a second chance to create a first impression. It

is often less about your experience and more about how you
come across, answer the questions, maintain eye contact and
have a warm friendly style.
Elizabeth Roberts Associate Director, Michael Page International

In a sense, youre interviewing the employer as well, so now is your

chance to ask questions. One HR manager said that his company
wouldnt hire anyone who didnt ask intelligent questions in the
interview. Find out about potential co-workers, company structure,
official working hours and any training programs that are appropriate.
But dont ask specific questions about salary at this point, unless the
interviewer brings it up first. Usually this is discussed at a later stage.

Interview types
Depending on the role youve applied for, there are different styles of
interviewing used by banks and financial organisations. Generally, the
larger the bank and the recruitment exercise, the more interview stages
youll need to prepare and get through before being offered the job.

Many employers in the banking industry ask possible recruits to go

through an assessment centre. This part of the process involves testing,
interviews and group exercises. The assessment centres gives you an
opportunity to learn more about the company and to get a feel for their
culture. It sounds a bit ominous, but its really just an opportunity to see
how you perform in a variety of conditions and circumstances.

The group assessment centre is probably the most challenging

part of the selection process. You need to demonstrate that you
can lead, but also know when to take a back seat, give feedback
but also receive it gracefully. And you need to demonstrate
you can draw the best out of others without allowing them to
outperform you!
Graduate recruit Commonwealth Bank

146
 Ready, set,
go for it!

The different types of interviews you might come across are listed and
explained below:

n behavioural interviews

n panel interviews

n group exercises

n psychometric tests.

Behavioural interviews
This is becoming an increasingly popular interview technique. Its
based on the assumption that past behaviour is the best predictor of
future behaviour. The employer has identified what skills and qualities
its looking for in an employee. By asking you very detailed questions
about how you reacted in past situations, the recruiter can assess
whether you possess the right qualities for the role.

Panel interviews
Typically, panel interviews are used for large recruitment exercises,
such as graduate programs, so they can expedite the process. Panel
interviews enable various people to meet the candidate at once. This
type of interview can be intimidating because it can appear to be
rather formal. The questions asked are usually prepared beforehand
and are the same questions asked at each interview. This ensures all
applicants have an equal opportunity to present themselves.

Group exercises
Group interviews enable employers the ability to see a large number
of candidates in a relatively short period of time. In it candidates
are brought together to discuss a particular topic, usually a case
study, and work together on a task to provide a solution, given
as a presentation, in a business-like environment. Recruiters can
therefore assess skills pertaining to communication, problem solving,
leadership and teamwork.

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Psychometric tests
Depending on the level of work youre seeking, you may have to take
a psychometric test. Put simply, psychometric tests are one objective
measure used by potential employers to assess the job role potential
of individuals. The two main ways that employers will generally
choose to use psychometrics are for ability/aptitude testing and
personality questionnaires. There is no way to study for these tests.
However, to succeed, you need to read the questions very carefully
and answer them as quickly and accurately as you can.

Top ten DOs

1 Maintain a positive and confident attitude.
2 Make sure you are well dressed.
3 Listen carefully to questions and instructions.
4 Highlight what benefits you can bring to the company.
5 Use your own real experiences to answer questions.
6 Show passion and enthusiasm for the position.
7 Make sure you promote your strengths and sell yourself.
8 Let the employer know you have a clear career plan.
9 Have an understanding of the job and what will be
expected of you.
10 Have a list of prepared questions to ask about the
company and the position.

Top ten DONTs

1 Dont arrive late to the interview.
2 Make sure you dont mutter or use too many umms
and ahhs.
3 Never leave your mobile phone or other electronic
devices on.
4 Dont exaggerate your previous experiences or skills.
5 Never arrive unprepared with no knowledge of the company.
6 Avoid talking about negative experiences you have had.
7 Make sure you dont act bored or uninterested.
8 Avoid answering questions with vague or confusing answers.
9 Dont be unprofessional or impolite.
10 Try to not fidget or show how nervous you are.

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 Ready, set,
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What can I do right now?

Whether youre still studying or already in the workforce, there are
many things you can do to prepare yourself for a career in banking.

Go get em stay motivated, focused and keep track of your

goals youll get there!
Lauren McDonald President, Women in Finance (Queensland branch)

Start researching
Find out about career fairs in your area and make sure you attend
theyre a great opportunity to meet with people who are already
working in banking.

Read the daily newspapers and the Australian Financial Review to

keep up to date with whats happening in banking. A good place to
start is the classifieds section where you can see what jobs are in
demand and what salaries are being paid.

Do some online research for potential employers using some of the

websites listed in this book.

Work on your application

Firstly, work hard at your study and your job high marks and
positive feedback from previous employers are always impressive
on your rsum.

Gain qualifications in the field in which you want to work, whether its
marketing, HR or credit analysis.

Join professional organisations as a student member, and register with

recruitment consultants prevalent in the banking and finance sector.

Dont forget your keep up your interests outside work and school
be fulfilled in all areas of your life. Employers want to know about
your interests.

Get experience
Its a good idea to develop good contacts in the industry who can point
you in the right direction for employment or even work experience.

Be willing to start at the ground up, even if it means taking up some

part-time work in a small credit union.

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 Banking

I think if you start at the bottom and work your way up you get
a good overview of the industry. You need to know what happens
at the ground roots.
Mark Johnson HR Manager, Orange Credit Union

Register yourself on the careers websites of the major banks

and mutuals.

Develop good referees these can include managers from part-time

jobs youve worked, university professors and/or TAFE lecturers.

When screening applications we need to see some form of work

experience. It doesnt have to be in banking in fact thats rare.
Any sort of customer-focused role is great, in particular roles
within retail, hospitality or call centres especially areas where
they are interacting with customers. All our roles are customer-
focused, whether theyre internal or external customers.
Jarrod Stooke Graduate Program Manager, ANZ Bank

Be flexible this is a dynamic, fast-changing industry and you have to

be ready to go with the flow.

No matter what your age, qualifications or work experience, the

banking sector wants people from a diverse background. You just
need to prove that youre a flexible, positive hard worker. Good Luck!

150
 Buzz words

Buzz words
ABA Australian Bankers Association
Abacus the industry body representing credit unions and
building societies in Australia
ABS Australian Bureau of Statistics
agribusiness the businesses associated with the production,
processing, and distribution of agricultural products
analyst someone who researches a specific product or
service in order to analyse and compare it to others
ANZ abbreviation for the Australia and New Zealand
Banking Group
APRA Australian Prudential Regulation Authority
ASIC Australian Securities and Investment Commission
regulatory body to the financial planning and
investment areas of banking
assessment centre a part of the selection process used by large
banking organisations where candidates undergo
several types of interviewing and testing
asset accumulation using different types of assets such as shares,
bonds and property in your overall investment
portfolio to maximise overall growth
asset classes different types of investments for example stocks,
bonds and money markets are broad asset classes
B2B business to business
branch network a way of referring to the branch-based business of
a particular bank
building society a cooperative financial services organisation
business banking the area of a bank tailored to providing banking
services to businesses
call centre customer sales and enquiry centre
capabilities the criteria developed by a human resources
department to help measure and develop
employees usually used in call centres
CBA Commonwealth Bank of Australia
contact centre another name for a call centre
credit union financial institution structured on a cooperative basis
CRM Customer Retention Management a strategy
used by companies to focus on creating and
maintaining lasting relationships with customers
CSO Customer Service Officer
culture the practices, attitudes and values developed
by a banking organisation, usually by their HR
department used when screening recruits
e-commerce any product, service or business conducted
electronically usually over the Internet

151
 Banking

financial services any product or service that refers to banking,

investment or insurance
FINSIA Financial Services Institute of Australasia
professional body that represents people who work
in financial organisations and provides qualifications
FSEAA Financial Services Education Agency Australia
FSU Finance Sector Union
gold watch was the traditional gift given to a long-term or
retiring employee in the days when people worked
for one company during their working lives
HR abbreviation for human resources, the department
that oversees the recruitment, training and retention
of employees
INSEAD European Institute for Business Administration, a
graduate business school in France
investment banking the area of a bank or financial institution which
moves or issues securities an underwriter
KPIs Key Performance Indicators a set of goals/
measurements set out for an employee to help
measure their success in their role
mortgage document that assigns a property to another party
as security to cover a loan by that party to the
property owner
mortgage adviser employees who work for a home lender by helping
clients to find and apply for suitable mortgages
mortgage broker an intermediary between borrowers and lenders
mutual a financial institution whose members are also its
owners; these comprise credit unions and building
societies
non-interest income the commissions and insurance sales brought in
by salespeople
performance-based a way of remunerating people based on how well
model their business has performed this method is
becoming popular amongst branch managers
phishing a way for hackers to illegally obtain sensitive
personal information, such as account details,
usually through emails or messaging
processing centre an area of a large bank which processes all the
paperwork and data entry necessary to open
accounts and loans
product development a major activity for a marketing department which
includes all aspects of creating and bringing a
product to market
PS146 Policy Statement 146 the licensing requirements
for those who offer advice on financial products
psychometric measurement of psychological aspects of a
person, such as knowledge, skills, abilities and
personality

152
 Buzz words

regulations principles, rules or laws designed to control

and govern conduct regulations may be
supplementary parts of Acts of Parliament that set
out precise procedures in specific detail
risk management identifying, assessing and managing risks to
minimise losses and maximise potential benefits
superannuation Australias mandatory pension plan where
all employers have to contribute a regulated
percentage of each employees salary into a
superannuation fund
TAFE Technical and Further Education
team leader a supervisor usually within a call or processing
centre of a large bank
UAI University Admissions Index a score out of 100
which compares a students performance to others
in NSW / ACT
wealth management management of a persons finances to increase
their income and wealth over time
WIF Women in Finance

153
 Appendixes

Appendix 1
Comparative starting salaries of various
professions
Seeking full-time
Seeking full-time
In full-time employment, Median starting
Bachelor degree employment, not
employment (%) working part-time salary ($000)
working (%)
or casual (%)
Agriculture 75.9 7.9 16.2 38.7
Architecture 89.6 3.8 6.6 35.0
Building 92.9 3.6 3.6 40.0
Urb & reg planning 90.4 4.0 5.6 44.0
Humanities 72.3 8.6 19.1 36.0
Languages 72.3 10.9 16.7 40.0
Vis/perf arts 62.2 12.0 25.7 33.2
Social sciences 70.3 7.5 22.2 37.5
Psychology 72.1 8.1 19.8 40.0
Social work 81.1 5.3 13.6 42.0
Business studies 82.9 5.9 11.1 39.0
Accounting 85.9 5.9 8.2 37.0
Economics 87.1 3.8 9.0 42.0
Education, initial 79.1 2.9 18.0 43.4
Education post/other 88.2 2.6 9.2 44.5
Aeronautical eng 88.4 6.4 5.2 47.0
Chemical eng 83.2 6.6 10.2 49.9
Civil engineering 95.4 2.3 2.3 45.4
Electrical eng 92.0 3.4 4.6 47.5
Elect/Comp eng 86.4 7.4 6.2 45.0
Mechanical eng 89.9 5.7 4.5 48.0
Mining engineering 100.0 0.0 0.0 64.5
Engineering, other 92.5 3.6 3.8 47.0
Surveying 93.1 1.7 5.2 42.0
Dentistry 97.3 0.7 2.0 68.0
Health, other 83.0 4.6 12.4 40.8
Nursing, initial 96.7 0.7 2.6 40.0
Nursing, post-initial 97.3 0.4 2.4 40.0
Pharmacy 99.4 0.2 0.4 32.0
Medicine 98.2 0.8 1.0 47.0
Rehabilitation 92.0 2.0 5.9 42.6
Law 90.2 4.0 5.8 42.0
Law, other 84.6 3.3 12.1 39.6
Computer science 78.8 8.8 12.4 42.0
Life sciences 74.2 7.7 18.1 40.0
Mathematics 85.7 6.2 8.1 42.5
Chemistry 83.7 7.1 9.2 40.0
Physics 73.3 13.6 13.1 41.0
Geology 87.7 6.5 5.8 49.0
Veterinary science 94.7 0.6 4.7 38.0

Bachelor degree graduates: employment and starting salaries (%), 2006

Reproduced with the kind permission of Graduate Careers Australia,
www.graduatecareers.edu.au

155
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Appendix 2
Hays Banking 2006 salary survey

Area Position
Customer service
Branch staff Teller Branch supervisor
advisor
Typical salary
Sydney 35 000 38 000 46 000
Melbourne 35 000 38 000 46 000
Brisbane and Gold Coast 35 000 38 000 46 000
Adelaide 33 000 35 000 45 000
Perth 35 000 38 000 46 000
Canberra 35 000 38 000 40 000
Hobart 32 000 33 000 40 000

Branch staff Lending officer Branch manager District manager

Typical salary
Sydney 50 000 70 000 120 000
Melbourne 50 000 70 000 120 000
Brisbane and Gold Coast 46 000 70 000 113 000
Adelaide 40 000 55 000 95 000
Perth 46 000 58 000 109 000
Canberra 45 000 60 000 110 000
Hobart 40 000 55 000 90 000

Mortgage settlements
Operations support Data entry officer Collections manager
officer
Typical salary
Sydney 38 000 42 000 48 000
Melbourne 38 000 40 000 42 000
Brisbane and Gold Coast 32 000 39 000 39 000
Adelaide 33 000 37 000 38 000
Perth 36 000 41 000 46 000
Canberra 30 000 40 000 42 000
Hobart 30 000 37 000 38 000

156
 Appendixes

Team leader/
Operations support Manager Senior manager
supervisor
Typical salary
Sydney 55 000 70 000 85 000
Melbourne 60 000 70 000 85 000
Brisbane and Gold Coast 47 000 60 000 65 000
Adelaide 45 000 55 000 70 000
Perth 60 000 68 000 76 000
Canberra 42 000 55 000 72 000
Hobart 42 000 55 000 70 000

Mortgage assessor/ Mobile lending

Residential lending Senior manager
credit analyst manager
Typical salary
Sydney 50 000 80 000 110 000
Melbourne 45 000 70 000 110 000
Brisbane and Gold Coast 48 000 70 000 110 000
Adelaide 40 000 70 000 80 000
Perth 48 000 71 000 110 000
Canberra 45 000 65 000 70 000
Hobart 38 000 80 000 90 000

Corporate and Assistant relationship Senior relationship

Relationship manager
Commercial lending manager manager
Typical salary
Sydney 65 000 100 000 130 000
Melbourne 60 000 95 000 110 000
Brisbane and Gold Coast 53 000 95 000 128 000
Adelaide 50 000 65 000 80 000
Perth 60 000 95 000 130 000
Canberra 55 000 65 000 80 000
Hobart 50 000 60 000 75 000

Salaries for banking positions in 2006

Source: Extract from Hays 2006 Salary Survey, www.hays.com.au

157
 Banking
find out
more
Go to www.asic.gov.au and
look for the ASIC training
register to find a PS146
compliance course. Many
providers also offer online
studying as well.
158
Appendix 3
ASIC Policy Statement 146
Qualifications may vary, but if you are working in the front line of
banking, being PS146-compliant will give you a big tick on any job
application. Standing for Policy Statement 146, it is basically a
licence for anyone who provides advice on financial products such
as insurance, superannuation or managed funds. The purpose of
the policy is laid out by the Australian Securities and Insurance
Commission (ASIC).
For example, financial planners and dealers need to have a licence
as well as some customer service representatives. Many banking
organisations will train you in PS146 compliance if you dont already
have it, but need it for your job. However, already having it on your
rsum will show a prospective employer that you know what youre
doing, not to mention the fact that youre saving the bank time and
money as they dont have to train you.
If you want to study for PS146, there are two tiers. Which tier you
need depends on the product, but generally youll need tier 2 to start
out, and tier 1 later on if you want to advise on more products, or
move onto financial advising. You also need to ensure that the course
you choose (there are hundreds offered out there) is accredited by
ASIC. You can go to ASICs website and check their training register for
appropriate courses. If youve recently studied, or are about to study,
a university degree in a banking- or finance-related field, chances are
that PS146 compliance is included in your course program.
You can download a full copy of PS146 from the website of the
Australian Securities and Investment Commission (www.asic.gov.au).
As PS146 is over 50 pages long, it is not reproduced here.
 Appendixes

Appendix 4
Sample job advertisements

Sales and Service Assistant

Are you sales focused? Can deliver exceptional customer
service? Do you enjoy working towards goals and being
generously rewarded for your performance? Are you a team
player and thrive in a vibrant, team environment?
If you answered yes to any of these questions, then this is the position you have
been looking for!
We are a large regional bank. We currently have full-time positions arising in some
of our suburban and metropolitan branches. We offer you the opportunity to use
your excellent customer service skills and sales experience to develop your banking
career within a positive and professional environment.
If you strive to ensure that your customers needs are met, have excellent
communication skills, and a mature and professional approach then this is the role
for you.
SALARY: $NEG
Please send Rsums (CVs) as WORD (any version) attachments

Regional Manager
$75k salary plus super, car and incentives
One of Australias largest non-bank lenders
Package in excess of $110k
Great career opportunity
This is a great opportunity to be a part Australias fastest-growing non-bank
lender, renowned for its service to customers and competitiveness in the market.
You will be required to manage an existing team of mobile lenders to ensure
they can effectively meet their customers needs. You will be responsible for their
training and mentoring.
There will also be a need to help grow the mobile lenders team. The successful
applicant who can demonstrate these skills will quickly find themself promoted to
a larger region with bonus incentives!
To be successful, you will need experience within the mortgage industry, a strong
knowledge of current legislation, as well as a proven ability to accredit, mentor
and manage loan writers.

159
 Banking

Risk Professional
CBD location
Up to 65k
12+ months fixed term contract
To work with this leading international organisation you will have a Credit Risk
background. This role will see you responsible for:
Handling front office credit monitoring
Sending loan documentation
Daily reviewing of credit limit for Bond and Money Market transactions
Daily, monthly reporting with APRA
Ensuring strict compliance
To be considered you must have strong credit risk experience. Your application
will demonstrate a strong knowledge of corporate and residential credit, as well
as the proven ability to work well within a team environment.

Business Banking
Account Manager
Leading Bank
Excellent Career Path
Superb Base Bonus
We are a large national bank with an outstanding reputation in the
Business Banking space. We are searching for an experienced
Business Banker to join our team to help us keep up with the demand
resulting from continued growth.
Working as part of a highly energised and enthusiastic team, you will be
responsible for developing new business, managing client relationships
and closing banking transactions with a generalist client base.
To be considered for this role, you will need to display a track record of
achievement in Business Banking. You are someone who is looking for
an opportunity to work for a fast-growing organisation that values and
rewards their employees. An excellent negotiator, you will be skilled at
bringing in new business and managing relationships.

160
 Appendixes

Appendix 5
Sample rsum

Michael Candy
30 Francis Street, Randwick NSW 2031
Phone (02) 8888 8888 Mobile XXXX XXXX XXXX
Email: mw@webland.com.au

EDU C AT I O N
Higher School Certificate, 1990 Waverley College
Bachelor of Commerce, Credit Average, 1993 University of New South Wales

PR O F E S S I O N A L Q U A L I F I C AT I O N S
Graduate Diploma of Applied Finance FINSIA

IT S K I L L S
MS Word, MS Excel

EXP E R I E N C E
Sep 2003 Current: Westpac Banking Corporation
Senior Relationship Manager
Was responsible for presenting and differentiating the banks service and product capabilities to
the CEO/CFO/treasurer/senior executive teams of no more than 15 carefully selected clients.
These clients presented significant, profitable business opportunities for the bank.
Responsible for developing and maintaining collaborative and effective internal relationships with
business lines and product teams to facilitate and improve their access to the client base.
Delivered and coordinated the cross-selling activities of the relevant business and increase the
revenue generated portfolios.
Participated in the Australasia Group strategic planning, client management strategy and prepared
an annual budget to be submitted to head office for approval.
Planned and committed the time/resources to the origination of high value-added deals together
with the business lines. Organised and delivered client marketing programs for product specialists
and supported their transaction origination efforts.
Initiated and maintained relationships with senior executives at clients, focusing on CEO, CFO and
treasurer, and in the professional services market.

19992003: Relationship Manager

Obtained understanding of bank products relevant to client base.
Prepared marketing program to customer portfolio.
Prepare credit submissions for corporate clients (both loans and treasury products). This includes
financial analysis, industry and borrower analysis, facility analysis and input on structuring. Discuss
major areas with client, outside sources or agent banks.

161
 Banking

Liaise with local management on credit issues relating to new customer. Ensure that all major/
unusual issues fully discussed.
Send to credit division. Answer all questions.
Review all legal documentation and ensure legal documentation corresponds with credit approvals.

19961999: Credit Analyst

Assisted the relationship manager and director in client planning for designated clients.
Member of designated portfolio in Australia with overall goal of increasing revenues, maximising
return on risk assets and ROE whilst maintaining credit quality of the portfolio.
Supported director, global relationship manager and relationship manager on marketing and
origination initiatives of sophisticated products ie debt, treasury, project and export finance, debt
finance and advisory.
Maximised value creation and profit generation of the portfolio team.
Building and maintaining close relationships with product and support areas in Australasia.
Built quality relationships with support areas (eg credit operations etc) that actively contributed to
delivering superior service to our clients. Fostered a culture amongst support areas that focused
on commitment and excellence.

19941996: Graduate Leadership Program

For the first six months of the tenure was based in the Sydney CBD.
Knowledge of daily branch operations.
Experience via rotations through frontline positions.
Assisted the executive manager and team in Sydney. During this time have worked on projects
and acquired knowledge in the many areas of the bank.
Gained an understanding in sales management tools. Assigned to complete various daily, weekly
and monthly reporting using these business tools to assist in the general day-to-day sales
management of the Sydney branch.
Was responsible for managing a small team of field paraplanners. On a weekly basis was
responsible for day-to-day management of workloads, compliance and weekly workflow reporting.
In addition have helped in the development of a system to track self-generated referrals and was
responsible for the weekly reporting of this activity.
Worked in the paraplanning and advice unit within HSBC. As part of this role I completed financial
plans for valued customers. This was an important role due to the complex legal and compliance
environment that currently regulates the financial planning industry.
As part of this role key responsibilities included timely plan preparation, compliance with legal and
dealership business rules as well as ensuring that the advice contained in the work was technically
sound and in line with clients' stated investment and risk profiles.

REFERENC E S
References provided on request.

162
 Appendixes

Appendix 6
Sample cover letter

Mia Hahn
1/180 Wyndham Street
Shepparton VIC 3631
m_hahn@yahoo.com.au

Mr Sam Jones
Graduate Program Manager
Big Bank
100 Main Street
Melbourne VIC 3000

21 February 2007

Dear Mr Jones

Re: Graduate Program

After attending your presentation at La Trobe University last week, I wish to apply for
a graduate position with Big Bank. Big Bank sounded particularly appealing to me
due to your strategy for regional growth and strong presence in the Asian markets.
I am in the final year of a Commerce degree (Banking) and I am particularly
interested in pursuing a career in business banking. As well as holding a distinction
average, I have been an active member of the Economics and Commerce Students
Society for the past two years and have participated in many events conducted by
the La Trobe Debating Society.
My skills and experience at university have been enhanced by five years as a
part-time sales assistant at David Jones, a recent stint as a volunteer guide at
the Shepparton Art Gallery and a vacation placement last summer as a Research
assistant with the Australian Prudential and Regulatory Commission.
Big Bank is a prominent and dynamic global organisation to which I would enjoy
making a strong contribution. In addition, the opportunities for variety, advancement
and international postings that you offer to staff as they progress through their
careers are very appealing to me.
Thank you for your time and considering me for a place in your graduate program. I
look forward to the opportunity to discuss this application with you further.

Yours faithfully,

Mia Hahn

Click here for more industry-specific sample

resumes and cover letters from Career FAQs 163
 Banking

Photo credits
A big thanks goes out to everyone who generously supplied
photographs for this book, listed in order of appearance.

Front cover
Background image: Ron Chapple, Dreamstime

Images of people: Stephen Coburn, Dreamstime; Bora Ucak,

Dreamstime; Eastwest Imaging, Dreamstime

Foreword
Gail Kelly

The big picture

Chapter image: Skogas, Dreamstime

David Dunstan; Alice Del Vecchio

Insider info
Chapter image: Endostock, Dreamstime

Alana Foster; Arekmalang; Emma McDonald; Stefanos Souldis; Natalie

Podreka; Lesley Walker; Tania Prior; Harry Senlitonga; Jeff Davis (2);
Donny Galella; Jodie Matthews; Susan Treglown; Jacek Sciezka (2);
Nikki Cooper; Chris Jones (2); Erica Elvy; Rabobank for Justin Harrison;
Kim Morris; Rabobank for Belinda Howell; Frank Howe; Shane Oliver;
Effie Zahos (2)

Ready, set, go for it!

Chapter image: Sue Stevens and Jane Dickinson

Anka Draganski; stock.xchng; Starfotograf; Michael Page International

for Elizabeth Roberts; Matthew Gowan; Helen OLoughlin; Kristen
Bugeja

Buzz words
Header image: H. Bevends, stock.xchng

Appendixes
Header image: Sarah Williams. stock.xchng

164
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