|Subject Name:||Governance, Ethics, and Sustainability|
|Assessment Title:||Code of Conduct|
You are required to research recent news articles and other information about National Australia Bank.
You must then draft a Code of Conduct for National Australia Bank that specifically addresses:
You will be required to include a minimum of 15 references in your Code of Conduct at least 5 of which must come from academic journals or textbooks.
For further guidance here are the links to three example company codes of conduct:
Code of Conduct: National Australia Bank
National Australia Bank Group commits to conduct their organisational behaviour in the most professional and diligent manners possible. The professional conducts of National Australian Bank Group are directed to foster dependence, assurance and goodwill amongst their customers, employees, suppliers as well as the community to be respectful to human rights. The motto of the National Australia Bank is to act with sincerity, integrity and equality. They focus on managing conflicts of interests as they meet their legal and regulatory obligations and voluntary loyalties and promises to sustain their internal standards. Adherence to confidentiality and dealing with suspected breaches are two of the significant norms that National Australia Bank religiously follows to maintain their professional dignity (Cranston, 2018).
National Australia Bank Group has incorporated this code of conduct as a set of guiding principles that are expected to be observed wholeheartedly by all the National Australia Bank Group personnel. Everyone associated with the company is held accountable against this code of conduct. National Australia Bank Group personnel are expected to always act consistently with the principles demonstrated in this code of conduct (Adams et al., 2016).
Principles of the Code of conduct:
The National Australia Bank Group personnel are expected to behave professionally to foster conviction, confidence and goodwill amongst all the customers, suppliers, colleagues and the community. Discrimination is one of the key elements of the Human Rights Policy which National Australia Bank Group particularly takes into consideration (Bartlett III, 2015). In order to reduce workplace discrimination the National Australia Bank Group has set out certain protocols, such as:
National Australia Bank Group believes in treating their existing and impending customers as well as employees fairly. According to the codes of conducts of the bank, demonstrating fairness is equal to preventing exploitation. Prohibition of exploitation refers to establish fairness in the treatment of the customers. The products or services provided to the customers should be ethical and lawful. Customer exploitation is offering customers with inappropriate services (Carè, 2018).
C. Dishonest and Fraudulent Behaviour/ Corruption:
National Australia Bank Group is collectively responsible for preventing dishonest and fraudulent behaviour as well as corruption. Corruption or forgeries encourage dishonest behaviour, and they are contrary to the principles of integration as well as fairness. Corruption might also suggest that NAB is adopting dishonest means to conduct their activities which is extremely harmful for the reputation of the company amongst the customers, suppliers, the investment community and the shareholders (Du Plessis et al., 2017). Dishonest/fraudulent behaviour or corruption will eventually lead to potential financial loss or undue advantages, such as,
In any cases of suspicious behaviour of fraud and corruption, products and services should be discontinued. Deliberate frauds or acts of corruption should be treated under criminal activity. The people leaders should be immediately informed in situations of suspicious acts of corruption or if pressurised by a co-worker or customer to adopt illegal or offensive means. NAB solemnly urges all of its personnel to report any events of fraud or corruption to the Group Whistleblower Program through the FairCall services. In any case, if anyone fails to report an act of corruption or fraud, it will be considered as a forgery itself (Evans and Niesche, 2016).
To prevent fraudulent behaviour, NAB directs all the personnel to observe these following rules strictly:
D. Whistleblower Protection:
The National Australia Bank Group is devoted to the promotion of an organisational culture of compliance, honesty and ethical integrity to encourage the exposure of potentially suspicious of wrongdoing. The Whistleblower Protection Policy of the National Australia Bank Group is reflective of the commitment of the Group to the demonstration of the finest standards of ethical conducts by:
The Whistleblower Policy applies to all the personnel associated with NAB. The people who disclose an act of corruption should be aware of certain specific statutory protections to secure their privacy rights protected by Australian legislation. According to the Whistleblower Policy, the people who are entitled to commence a disclosure with this policy are the:
The wrongdoings that are encouraged by NAB to be reported for being out of the conduct, illegal, offensive or objectionable are inclusive of:
Frauds are dishonest activities that can potentially cause major financial loss or turns out to be an unjust benefit to the Group itself or any personnel associated with it. The fraudulent behaviour can involve customers or third parties related to NAB (Worthington, 2016).
Accounting practices that are apparently legal but fails to comply with the intended spirit of the auditing standards and accounting laws of NAB should be reported to the Whistleblower Program (Nab.com.au. 2019).
The dishonest act from an employee or contractor to properly represent ethical performances should be reported to this program. Other than that, employees who dishonestly misuse the status of their employment in obtaining a benefit for him/ her or a third party should also be immediately reported (Nab.com.au. 2019).
Demonstration of illegal behaviours such as theft, drug dealing, violence, criminal offence, property damage and legislation breach are parts of regulatory nonconformity that should be reported to the Whistleblower Program (Nab.com.au. 2019).
Offering bribes or presenting another person to influence a personal or business oriented with getting a business advantage is considered to be an offence. Bribery is intended to obtain a business/personal advantage where there is no legitimate benefit irrespective of whether or not the recipient is a potential target of the benefit (Nab.com.au. 2019).
The National Australia Bank Group is dedicated to providing justice, equality, support and protection to those who report of the wrongdoings. NAB is non-negotiable at any instances of reprisals or intimidations by any personnel associated with the group to the disclosing individual. The Whistleblower Program is committed to taking appropriate measurements in order to support the well-being of a disclosing individual from any unpleasant actions by protecting the anonymity and confidentiality of their identity (Dixon, 2016).
The National Australia Bank Group strictly focuses on meeting their legal and regulatory obligations as well as voluntary pledges and internal standardisations. The Group directs all of its personnel to comply with the laws, regulations and codes that are pertinent to the National Australia Bank Group as a leading economic service and credit provider so that they can sustain the market competitions. The reason as to why NAB is so focused about their enforcement is because it might leave a long-term impact on the impressions of the customers about their services. The personnel are also recommended to comply with the internal policies and procedures of the Group as a part of fundamental legal expectations. In cases of failure to protect the enforcement, the respective NAB personnel are suggested to instantaneously report to their people leader or the divisional compliance team about the suspicious act of nonconformity and disobedience (Cranston, 2018).
The enforcement breaches are inclusive of:
As per the regulations of NAB, it is the responsibility of the people leader to make sure that the employees are knowledgeable enough to meet their respective compliance requirements. If there are any occasions of non-compliance, it should immediately be addressed timely. NAB also reminds the people leaders that their Conduct Gate might be heavily impacted if they fail to efficiently manage a code breach by any of their team members (Kumar and Prakash, 2018)