Westpac has today released the 12th and final Independent Reviewer report on its Customer Outcomes and Risk Excellence (CORE) program.
Promontory Australia's final report confirms the completion of Westpac's Integrated Plan to improve risk culture, governance and accountability, which was implemented through its CORE program.
The report notes Westpac's risk governance has "substantially improved".
Westpac is now focused on transition and sustaining the changes implemented under the Integrated Plan.
"The successful completion of the Integrated Plan is a critical milestone for Westpac," said Westpac Group CEO Peter King.
"It has transformed our culture and the way we operate, with the uplift in risk management capability a foundation to running our business safely and sustainably.
"With the integrated plan complete, we are now focused on transition and staying the course to ensure we continuously improve our culture, governance and risk management," Mr King said.
