NAB will be on the hunt for two people to take the bank’s top spots after both its chief executive Andrew Thorburn and chairman Ken Henry quit yesterday in the wake of the Royal Commission.
But there’s another job vacancy from NAB for a role that’s had people scratching their heads:
“Head of Financial Crime”.
Posting a screenshot of the LinkedIn job ad, Reddit user notafakename10 wrote: “I think NAB may want to rethink some of their position titles…”
The job description calls for someone who can create and deliver technological solutions to combat financial crime, but this isn’t well-reflected in the job title.
“We’re looking for senior leaders to take responsibility for defining, shaping, managing emerging technologies and evolving operational requirements to determine world class technology solutions for the critical function of Financial Crime,” the job description states.
Skills required for the job include ‘financial risk’, ‘business transformation’, ‘change management, ‘IT strategy’ as well as management and leadership.
“To be successful, you will demonstrate a tactical approach to risk while adapting budgets, policies and delivery across a specialist team in a ‘build it, run it, service it’ model.”
But such a role might be more typically defined as “head of risk and fraud operations”.
Reddit users didn’t hold back on the embattled major bank, which was singled out in Royal Commissioner Kenneth Hayne’s final report for being more resistant than the other banks to rectify its culture of misconduct, for the odd phrasing of the job title.
“Criminal Enterprise Operator just rolls off the tongue,” Reddit user CertifiedWholesome remarked.
Another Reddit user pointed out mistakes in other job roles posted by NAB.
Other netizens who said they banked with NAB asked for recommendations for other banks.
ANZ also has job roles advertised for “Engineer, Financial Crime”.
SEEK analysis shows that job ads for risk and compliance professionals in the financial services industry have grown by 122 per cent in the last five years and 48 per cent in the last 12 months alone.
NAB’s top executives bow out
On Thursday, NAB chairman Ken Henry said he and CEO Andrew Thorburn were “deeply sorry” for not meeting customer expectations.
“I believe the board should have the opportunity to appoint a new chair for the next period as NAB seeks to reset its culture and ensure all decisions are made on behalf of customers.”
Thorburn said he acknowledged that the bank had copped “sustained damage” as a result of its misconduct that were explosively aired over the course of the year-long Royal Commission and in its final report.
“I know that I have always acted with integrity. However, I recognise there is a desire for change. As a result, I spoke with the board and offered to step down as CEO, and they have accepted my offer.”
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