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Westpac Group's companies are dedicated to empowering careers and education through various initiatives.
The group's companies offer a range of career development programs, including mentorship and training opportunities. These programs help employees build skills and advance their careers.
One such program is the Westpac Scholars, which provides financial support and mentorship to students from underrepresented backgrounds.
By investing in education and career development, Westpac Group's companies are creating opportunities for individuals to succeed and grow.
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The Company
Westpac Group has a vision to be one of the world's great service companies, helping customers, communities, and people to prosper and grow.
They support a range of financial brokers who represent their products and services in the market at a mortgage, equipment finance, and commercial level.
Over 4,000 brokers work with Westpac Group, and they're all required to complete CPD points annually.
Their goal is to make it easy for brokers to commit to their development as successful business owners and leaders.
Scholarships and Programs
Westpac Group offers several scholarships and programs to support young people and Aboriginal and Torres Strait Islander women. The Westpac Young Technologists Scholarship is available to high school graduates who are passionate about technology and eager to explore its potential for good.
Recipients of the Westpac Young Technologists Scholarship receive $5,000 per year over three years to cover costs associated with their studies. They also gain access to a 5-day leadership program in Singapore and internships through the Westpac Scholars Trust.
The Westpac Scholars Trust awards 35 Young Technologist scholarships every year across five university partners: University of Wollongong, Western Sydney University, Queensland University of Technology, RMIT, and Murdoch University.
Westpac Institutional Bank offers the Waradha Internship Program for Aboriginal and Torres Strait Islander women to gain insight into diverse career opportunities. The program is open to applications from 2022.
Westpac Group is committed to creating a workplace that supports long-lasting and meaningful careers for everyone.
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Indigenous Careers
At Westpac Group, they're committed to creating a workplace that supports long-lasting and meaningful careers for everyone, including Aboriginal and/or Torres Strait Islander peoples.
They have a dedicated Indigenous Careers Team to help create employment pathways, support career development, and retain great Indigenous talent.
Westpac Group's Reconciliation Action Plan is a key part of this effort, aiming to create a more inclusive and equitable workplace.
The team's goal is to create as many employment pathways as possible for Indigenous Australians.
Here are some of the ways they're working to achieve this:
- Creating employment pathways
- Supporting career development through mentoring programs, short-term secondments, and leadership courses
- Providing internship opportunities, such as the Waradha Internship Program for Aboriginal and Torres Strait Islander women
By supporting Indigenous employees and interns, Westpac Group is helping to build a more diverse and inclusive workforce.
Our Philosophy and Approach
At Westpac Group, we're committed to helping Australians and New Zealanders succeed. Our purpose is to understand what success means to our customers and help them get there.
We're focused on building deep and enduring customer relationships, being a leader in the community, and being a place where the best people want to work. This approach is guided by three priorities that help us deliver on our strategy.
We believe in lifting the bar of professional quality in our industry, as seen in the development of the Broker Academy, which provides finance brokers with comprehensive education and training.
The Challenge
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Westpac Group was working with over 4,000 brokers to help them complete their annual CPD requirements, but their approach to learning was purely face-to-face, with employees having to leave the office to develop their skills.
Brokers often appeared disengaged at these sessions, but they knew their attendance would support their professional development and help them earn the necessary CPD points.
The Solution
Westpac Group saw a solution in Go1 to build a comprehensive education platform for finance brokers in Australia, known as the Broker Academy.
The Broker Academy provides integrated online learning and business knowledge, covering topics like compliance, business strategy, leadership, and wellness.
Regularly curated courses are determined by focus groups with industry experts, allowing brokers to complete and track CPD learning at their own pace.
This approach marks a significant milestone in Westpac Group's third-party approach to ongoing education.
The main focus of the Broker Academy is to raise professional standards within the industry.
Our Purpose and Strategy
At the heart of our philosophy is a clear purpose: to help Australians and New Zealanders succeed. We believe this is what we do, who we are, and why we come to work every day.
Our strategy is built around delivering on this purpose by building deep and enduring customer relationships. We're focused on our core markets of Australia and New Zealand, where we have a strong position and over 13 million customers.
We're committed to organic growth, growing customer numbers in our chosen segments, and building stronger relationships. Our portfolio of financial services brands allows us to appeal to a broader range of customers and offer solutions that better meet their needs.
In guiding our activities, we have three priorities that help us stay focused.
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More Than Money
Westpac Group's purpose is to help Australians and New Zealanders succeed, and they understand that success means different things to different people.
They have a comprehensive range of financial products and services that assist customers in meeting their financial needs, serving over 13 million customers in their core markets of Australia and New Zealand.
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The company's strategy focuses on building deep and enduring customer relationships, being a leader in the community, and being a place where the best people want to work.
Westpac Group's commitment to helping people extends beyond financial services, as seen in their Westpac Scholar program, which provides financial and networking support to students studying STEM fields.
Elizabeth Karpathiou, a Westpac Scholar, credits the program with changing her life, providing her with access to volunteering, mentoring, and career exposure opportunities.
The program's impact is evident in Elizabeth's success, as she now works as an Application Security Consultant at Westpac, having completed her IT degree and made the Dean's List at University of Technology Sydney.
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Frequently Asked Questions
What companies are owned by Westpac?
Westpac owns several well-known Australian banks, including Westpac, St. George, BankSA, Bank of Melbourne, and RAMS. These brands offer a range of banking products and services to Australians.
Is Westpac part of the Big 4?
Yes, Westpac is one of the Big 4 banks in Australia, a group that also includes ANZ, Commonwealth Bank, and National Australia Bank. These four banks hold a significant majority of the country's household deposits and home loans.
Is Westpac owned by BlackRock?
No, Westpac Banking Corporation is not entirely owned by BlackRock, but BlackRock holds a significant stake of 6.2% in the company. BlackRock's ownership is disclosed through a filing with the Securities and Exchange Commission (SEC).
Sources
- https://marketmatters.com.au/company/westpac-banking-corp/
- https://www.westpac.com.au/about-westpac/innovation/our-partners-and-portfolio/
- https://explorecareers.com.au/employers/westpac/
- https://www.mbaskool.com/competitors/companies/18848-westpac.html
- https://www.go1.com/customer-story/how-westpac-group-is-re-imagining-the-delivery-of-learning
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