Bank training classes will be the norm for many Australians as the government prepares to introduce the Banking Industry Code of Conduct in July.
While there is no guarantee that bank training courses will be mandatory, banks are expected to require training for all new staff and some existing staff will be required to undergo additional training.
The new code of conduct will also apply to those who are not currently employees and who are already on the payroll of a bank, but have taken on a job with the bank.
“The codes of conduct are going to be part of the framework that we’re setting out, and we’ll be providing guidance on that as well,” Federal Banking Commissioner Tim McMillan said.
“They’re going to take the opportunity to review the processes and the procedures that have been in place for quite a long time, and it’s going to provide a pathway for people to get training and to transition to a position that doesn’t require a banking licence.”‘
Banks are already doing their best to keep themselves safe’There is little doubt that banks will be taking steps to ensure staff safety in the future.
In May, the Bankers’ Association of Australia called on all financial institutions to review their training programmes and practices.
“There are a lot of reasons why we do want to have more trained staff, not least to protect customers,” Mr McMillans said.
However, there are concerns that the code of behaviour will not prevent a financial institution from failing.
“It doesn’t make sense for banks to have any rules, any standards for how they are run, any accountability, or anything else that would allow them to fail,” Mr McNamara said.
The Government is also making it easier for banks and their employees to work together to improve workplace safety.
In the coming months, the Government will also make it easier to register and remove barriers to entry for people with mental health issues.
In September, the Prime Minister announced that he was introducing the Mental Health and Addiction Commission, which will make it more accessible to people with a mental health or addiction issue.
“We’re seeing a lot more people come into our country, or in the next few months, our country will be seeing a whole new wave of people who are going through a difficult time,” Mr Turnbull said.
Topics:bankers,community-and-society,jobs,government-and toppublic-state-issues,government—state-parliament,financial-services,industry,banking-industry-and‑finance,health,australiaContact Amy HaggartyMore stories from Victoria