MPAMAGAZINE.COM.AU ISSUE 18.09
INDUSTRY INFLUENCER How PLAN Australia CEO Anja Pannek is spearheading progress SACRIFICES FOR SUCCESS The high-stress demands of broking are taking a toll
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ROLE MODELS FOR EVERYONE The brokers and bankers reshaping the industry
ANNOUNCING THE AMA FINALISTS Celebrating the best in the business at the event of the year
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SEPTEMBER 2018
CONNECT WITH US
CONTENTS
Got a story or suggestion, or just want to find out some more information? twitter.com/MPA_Australia facebook.com/Mortgage ProfessionalAU
UPFRONT 02 Editor's letter
The women spearheading change
32 SPECIAL REPORT
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INDUSTRY INFLUENCERS
Celebrating 12 women from across the broking and lending spectrum who are reinventing the industry’s image and revitalising broking
08 News analysis
Since long before Westpac became the first big four bank to appoint a female CEO, it was on a mission to create a more equal workplace
11 Opinion
WOMEN IN LEADERSHIP
PLAN Australia CEO Anja Pannek’s leadership and advocacy for brokers, diversity and education have made her a mainstay of the sector
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The high-stakes broking business is taking a toll on women brokers
CoreLogic CEO Lisa Claes on a leader’s responsibility as a role model
FEATURES 36 Commercial finance
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GENDER BARRIERS ANJA PANNEK
The MFAA’s survey reveals how industry participants view diversity
FEATURES
FEATURES
THE BIG INTERVIEW
04 Statistics
An MFAA survey shows a significant perception gap between men and women regarding the barriers faced by women in broking
FAST's proactive approach to diversification is developing the next wave of business lenders – women
40 Striking a balance
Don’t let pressure and a desire to be perfect stop you from reaching your goals, says Bluestone’s Ebony Maxwell
44 Making women’s voices count
ANZ is helping women brokers develop their skills and confidence
46 Australian Mortgage Awards
Finalists for the 2018 AMAs have been announced!
PEOPLE 62 Career path
42 FEATURES
FINANCIAL REALITY
People don’t like talking about money – even to their partners. But there are many reasons why that should change and why brokers should be the ones to start the conversation
Suncorp's Robynne Frost has built her career on strong business relationships
64 Other life
How triathlon training makes this broker the “best me” for clients
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UPFRONT
EDITOR’S LETTER www.mpamagazine.com.au SEPTEMBER 2018
When women talk, change happens
C
oinciding with the writing of this magazine on women in broking, my older sister gave birth, to the first baby and boy in the family. I’ve always had great respect for women, but seeing someone I’m so close to in their first few days of motherhood was truly inspiring and eye-opening. It also made me realise that as much as it’s an incredible gift, it’s also an utterly draining, daunting and emotional journey to go through labour and then find yourself responsible for a fragile new life. It made me feel in even greater awe of all the women out there who somehow manage successful businesses that deeply and genuinely care about their customers while also balancing their family lives, athletic pursuits and volunteering initiatives. Despite all the directions they’re pulled in, they still made time to answer our questions. I owe all of those featured in this magazine a great deal of gratitude for being so eager and willing to participate, especially the women who courageously
We’d like to be part of the movement that sees more diverse voices, faces and opinions reflected in the industry shared deeply personal accounts of the toll their jobs have taken on their personal lives. We are thrilled to present MPA’s inaugural Women in Broking issue. It is the product of many conversations over lunches or drinks and at events where the microphones were turned off, the pens were still and women felt free to talk and be themselves. Those discussions unveiled that, while progress has undoubtably been made in the industry, and women are incredibly grateful for their success and to the men in their lives who have helped them, there are still many issues simmering under the surface. We’ve dug into some of those issues in this magazine and featured some of the women role models who are making changes. We hope this becomes a staple of our editorial calendar because we think this conversation is an important one and we’d like to be part of the movement that sees more diverse voices, faces and opinions reflected in the industry and the media. Thank you to everyone who took part and helped make this magazine a reality.
EDITORIAL Editor Otiena Ellwand Journalist Abel Riototar Contributor Lisa Claes Production Editor Roslyn Meredith
ART & PRODUCTION Designers Cess Rodriguez Marla Morelos Martin Cosme Traffic Coordinator Freya Demegilio
SALES & MARKETING National Sales Manager Claire Tan Marketing and Communications Manager APAC Michelle Lam Marketing Manager Danica Mendoza
CORPORATE Chief Executive Officer Mike Shipley Chief Operating Officer George Walmsley Managing Director Justin Kennedy Chief Information Officer Colin Chan Human Resources Manager Julia Bookallil
EDITORIAL ENQUIRIES
tel: +61 2 8437 4792 otiena.ellwand@keymedia.com
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tel: +61 2 8011 4992 • fax: +61 2 8437 4753 subscriptions@keymedia.com.au
ADVERTISING ENQUIRIES
claire.tan@keymedia.com simon.kerslake@keymedia.com.au
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Mortgage Professional Australia is part of an international family of B2B publications and websites for the mortgage industry CANADIAN MORTGAGE PROFESSIONAL neil.sharma@kmimedia.ca T +1 416 644 8740
Otiena Ellwand, editor, MPA Copyright is reserved throughout. No part of this publication can be reproduced in whole or part without the express permission of the editor. Contributions are invited, but copies of work should be kept, as the magazine can accept no responsibility for loss.
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DON’T JUST TAKE OUR WORD FOR IT... Being part of the mortgage broking industry for 20 years I have been associated with several different aggregators and have had some great experiences with each accordingly. In February 2018 a change in business direction with my current aggregator created an unexpected problem for my business where I needed to find the services of a new one. This problem turned into a positive when I was offered the opportunity to join Specialist Finance Group (SFG).
The recent implementation of the brilliant and unparalleled aggregation software, SFG Connect, ensures my business will have the capacity to grow even further through its administrative, service and marketing tools. The ability to have interactive access to the support team 24 hours a day gives comfort that downtime is drastically minimised. Training is also easily accessible and readily available.
I HAVE NEVER HAD MANAGEMENT, INCLUDING THE CEO, ENCOURAGE AND ACKNOWLEDGE MY BUSINESS ON A REGULAR BASIS. It was inconceivable that changing aggregators, a task which generally impacts a business for 30 days, would impact my business for only 3 thanks to the joint effort of the SFG team. I was in absolute awe with the ease of the whole process facilitated by the admin and accreditation team, Sales and State Managers all the way up through to the CEO himself, William Lockett.
I can honestly recommend SFG as an aggregator of choice, whether you are a new or an established broker, joining the SFG team will give you the tools for growth and success.
The culture within SFG is something extraordinary and something that I have not yet experienced. Whilst making you feel that you are part of a growing family, SFG do not compromise on their professionalism and efficiency. I have never had management, including the CEO, encourage and acknowledge my business on a regular basis. Due to their advice, acknowledgement and encouragement I have seen my business develop and expand dramatically over the past few months.
David August Finance Broker
Peter Magoulias Finance Broker
1300 303 382  specialistfinancegroup.com.au Australian Credit Licence No. 387025
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UPFRONT
STATISTICS
A diversity of views
OVERCOMING THE BARRIERS
While the number of women in broking is growing, more needs to be done to make it inclusive THE MFAA recently conducted a survey to gain insight into how industry participants perceive gender diversity in broking. More than 700 people took part in the research. The answers were divided into male and female responses to get a better sense of how their opinions compared on such topics as barriers in the workplace for women, business challenges, inclusion and representation in broking. While the majority of both sets of respondents said businesses benefited from
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Although many women believe broking still has a biased perception of them, almost half of female respondents and more than 70% of male respondents said they didn’t see any issue in the industry impeding the career growth of female brokers.
having more diverse people working in the industry, nearly half of both males and females were unsure whether the industry was adequately leveraging this advantage. “The ultimate objective of having a diverse industry is to ensure you actually reflect the diversity of your customer base,” said the MFAA’s research consultant, Jane Counsel. “By reflecting the diversity of your customer base, you’re better able to anticipate and understand what their needs are.”
85%
36–57
women brokers were recruited of women believe businesses was age category of the majority between April and September 2017 benefit from diversity of female respondents
79%
of women believe the broking industry is free from discrimination Source: MFAA
COMPLIANCE TOP OF MIND
THE PERCEPTION GAP
Survey respondents said they were investing more of their time and effort in compliance as lending policies continue to undergo reforms alongside the government’s ongoing probe into misconduct in the financial services industry.
Nearly 60% of men don’t believe women are under-represented in the industry. But if you ask women the same question, the results vary significantly, revealing the perception gap that exists. However, note that as most brokers are sole operators they may not be fully aware of what’s going on in the larger industry landscape.
What is your business/employer most preoccupied with?
Do you think women are under-represented in the industry?
Compliance training Attracting diverse talent Training and development of staff Developing leadership capabilities
Unsure 10%
Unsure 18.92%
No 32.73%
No 58.92%
Yes 57.27%
Yes 22.15%
Implementing flexible work arrangements Other
Females
0%
10%
20%
30%
40%
Males
50%
Source: MFAA Industry Diversity Survey
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Source: MFAA Industry Diversity Survey
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12.0 4.7 4% 3%
WHAT DO YOU BELIEVE ARE THE BIGGEST BARRIERS FOR WOMEN WORKING IN THIS INDUSTRY? Note: Respondents could select more than one answer
6% 26.3
9.68%
12.27%
39.55%
9.68%
12.7 3%
9% 14.0 % 5 5.4
25.45%
% 6.45 3.66% 71.61%
5.91 17.2 % 7%
7.31 3.4 % 4%
Unconscious beliefs about gender roles in the workplace
An industry culture that is not inclusive of women
Industry is not interesting enough to women
Conscious beliefs about gender roles in the workplace
Lack of industry experience and expertise
Lack of development and progression opportunities (minimal career progression)
Safety concerns (ie sexual harassment, physical safety, etc)
Leaders lacking commitment and capability
No barriers that I am aware of
Source: MFAA Industry Diversity Survey
FLEXIBILITY RULES
WOMEN IN BROKING: THE NUMBERS
Among the many appealing aspects of the broking industry, flexible working arrangements top the list by a wide margin for both female and male respondents. Interestingly, an attractive salary was considered the least important draw.
The MFAA’s exclusive finance broker benchmarking report for the April to September 2017 period reveals that, while the absolute number of females in broking continues to increase, the overall proportion of women in the industry’s entire population remains stable at around 27%.
What are the most appealing factors for women working in our industry? Females
Males
3,312
27.8%
3,700 28.3%
3,871
3,708 27.4%
27.3% Number of female brokers Proportion of female brokers
100%
Flexible working conditions
50%
Attractive salary
Development and progression opportunities
Nature of the work
Oct 15–Mar 16
Diversity of the people
Apr 16–Sep 16
Oct 16–Mar 17
Apr 17–Sep 17
Of the brokers recruited during the six-month period, how many were men and how many women?
Apr 15 - Sep 15
Oct 15 - Mar 16
Apr 16 - Sep 16
Oct 16 - Mar 17
Apr 17 - Sep 17
Men
931 (66%)
972 (68%)
947 (68%)
938 (72%)
1,168 (69%)
Women
475 (34%)
454 (32%)
439 (32%)
360 (28%)
523 (31%)
Other
Source: MFAA Industry Diversity Survey
Source: MFAA Industry Intelligence Service, Fifth Edition
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CIO complaints 2016/17
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UPFRONT
HEAD TO HEAD
What are your challenges as a woman in broking? The industry is moving beyond the old boys’ club mentality and entering a new era in which women brokers drive progress
Angeline He
Narelle Kerstan
Abbey Reggardo
Senior lending manager Xin Mortgage
Mortgage specialist/director Gloss Finance
Senior mortgage consultant My Mortgage Freedom
“The challenge I face as a broker is how to be good at multitasking. People often say women are better at multitasking than men. However, in the broking world, there are just too many things happening at the same time every day, and sometimes a delay could result in a huge financial loss with a big emotional impact on clients. “I have to plan my day in advance and learn how to prioritise and allocate tasks to make sure I’m always ahead. I also need to think in advance so I can foresee any issues in the process. I make sure I’m prepared for any possible changes so I can solve any issues quickly.”
“I worked in the finance industry for 12 years prior to becoming a broker. I did notice that there was a bit of a boys’ club mentality in the early days, and I didn’t feel part of the group at a few seminars. Only a few bank BDMs made me feel like my business was important to them. “This has changed a lot in the last five to six years. I’ve noticed a big change in the number of females attending seminars, and I’m now treated as an equal. I feel part of a wonderful, supportive industry. “I’m very grateful for the fantastic support and service I receive from all the male BDMs and management staff within my aggregator.”
“I don’t believe the barriers I had to overcome in this industry had anything to do with being a woman. The finance industry has come a long way over the years. My gender doesn’t affect my ability to do my role. “There is no denying that the banking sector is historically a man’s domain, but women are doing exceptionally well these days, whether they are brokers or bankers. Building referral relationships with male-dominated businesses doesn’t come without challenges, and it will take time for the mentality to shift among older-school operators. But my clients don’t care at all. In fact, more than half of our organisation’s members are women.”
BANKER EMPOWERS WOMEN BROKERS TO BECOME LEADERS Having witnessed how poorly represented women were at many forums and events, ANZ residential broker head Simone Tilley recently launched the program Doyenne, Women in Broking to encourage women to speak up and recognise their leadership positions in the industry. ‘Doyenne’ is a French word that refers to the most respected woman in a profession. “It’s really about an executive leadership program that builds skills and confidence around contributing to internal and external forums, including social media, events and traditional media,” Tilley told MPA.
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UPFRONT
NEWS ANALYSIS
The downside to success The high-stakes business of broking – and the often-unbalanced workload at home – is taking a toll on the personal lives of some women brokers, who tell MPA editor Otiena Ellwand what they’ve had to sacrifice in order to ‘do it all’ SEVERAL WOMEN brokers say they’ve been unable to reach their full potential because they’re overburdened by being both the primary breadwinner and the primary caregiver at home. In an anonymous survey conducted by Astute Ability Finance Group in partnership with MPA, a small group of women revealed the toll that the high-stress demands of broking have taken on their personal lives and professional pursuits. The survey of 10 women provides a snapshot of some of the issues and challenges women face as they juggle their ambitions in business with being mothers and partners – sometimes with serious ramifications.
One female respondent said that while her husband used to say and do “all the right things publicly”, privately she found that the more successful she became the more threatened he felt, which led to arguments and jealousy. “I would work longer hours and travel more to avoid being at home. We did end the marriage in 2014,” she wrote. And while there were other factors, she believes her career was the main driver behind the breakdown. Another woman said her “role was seen as secondary and less important to my husband, irrespective of being the primary income earner and holding a more senior role”. Women brokers are not a rarity in the industry any more, but they still make up
only 27% of the broking population. Sixty per cent of women believe they continue to face barriers in the industry, namely around unconscious beliefs about gender, and an exclusive industry culture, according to a recent MFAA diversity survey. The concerns these brokers expressed about feeling like they had to work twice as hard as men for recognition are not unfounded, nor are they unique to broking. Australian women still spend significantly more time on unpaid work than men, yet they are more educated. In 2016, working-aged women averaged 20 hours per week on housework and 11 hours per week on care, while men averaged 13 hours on housework and five hours on care, according to the latest Household, Income and Labour Dynamics in Australia (HILDA) Survey. “Most women are the caregivers, so some days before we even leave the house we have done a day’s work,” said another broker. In terms of paid employment and commuting time, men spent 11 hours more per week on this than women but were more satisfied than women with the division of unpaid labour, the HILDA Survey found. However, women still surpass their male counterparts when it comes to education, with more women having diplomas, bachelor’s degrees and graduate diplomas. “The disproportionate involvement of women in unpaid work arguably limits their labour market availability and career options,
HOW DO YOU SPEND MOST OF YOUR TIME? Mean hours per week spent on employment, housework and care by gender for persons aged 15–64 (pooled data from 2002 to 2016)
Men
Employment
Housework
Women
Care
Employment
Housework
Care
Total
54.2 72.5
Married Without dependent childen With dependent children
24.0 22.2
25.3 29.6
3.3 23.3
51.0 74.0
1.6 13.6
55.7 72.0
De facto Without dependent childen With dependent children
34.8 20.7
16.2 27.7
1.2 28.6
51.5 76.0
1.9 14.7
38.3 68.3
No partner in household Without dependent childen With dependent children
23.5 21.6
11.1 27.1
1.9 22.2
35.4 69.5
Married Without dependent childen With dependent children
37.0 46.7
15.9 15.5
2.4 11.0
De facto Without dependent childen With dependent children
41.7 42.2
13.2 16.9
No partner in household Without dependent childen With dependent children
28.1 33.6
9.6 21.1
Total
Source: HILDA 2018
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“Overcome the obstacles by collaborati ng wit like-minded pe h ople”
“I’ve never felt that I was treated any differently in this industry based on my gender”
“Times have and are changing, and men do play a bigger role in the family home”
“I feel we are all treated equally”
“I have had two relationship break-ups due to my role”
“Sometimes I get resentful about having to suppress my career”
“It is a c on work in stant pro to keep gress mar life toge ried ther”
“The setbacks are cracks in my marriage” “Work-life balance is a myth”
“Most women are the caregivers, so some days before we even leave the house we have done a day’s work” Broker and contributes to a persistent gender pay gap,” the HILDA report said. One woman broker said she had to turn down professional opportunities for fear of disappointing her family by having more time away. “On reflection, I let myself down by not following my professional goals,” she wrote. Another broker said employers past and present advised her to sacrifice her social life
“It was my internal voice that created my own concerns around being a ‘bad mother’”
and sporting activities because her career was more important. Women are also dealing with their own or sometimes others’ pressures, perceptions and expectations of how a dutiful mother should behave. One working broker who wants to have children said she was concerned about being seen as a “bad mother”.
“Lose the boys’ club that still exists in all institutions”
“I would be worried about people talking, mainly from mothers who aren’t in the industry and choose to stay home. I’m not planning on staying home for years, more like three to six months, and even working in between for a day or two.” Another woman said she’d put plans of having children on hold for her career. “I have been unable to find someone who understands the time commitments and travel, and [it’s difficult] finding time to have a career gap.” Jane Counsel, principal consultant at Executive Central Group and lead researcher for the MFAA’s diversity survey, said there were not just structural issues involved in equal labour participation of the genders but long-held cultural beliefs. “[These] have been formed over years and years of unconscious socialisation around genderised work roles.” These stereotypes also negatively affect the progress men are making. “I’ve seen men very happy to take a backseat and become the primary carer while their wife’s career has stepped up. But it’s all the discrimination, questioning and commentary that they suffer from their own social group that makes that challenging for them,” Counsel said.
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FEATURE / BROKER EDUCATION UPFRONT
NEWS ANALYSIS
HOW SATISFIED ARE YOU WITH THE DIVISION OF HOUSEHOLD AND CHILDCARE TASKS? Men – Housework
Men – Child care
Women – Housework
Women – Child care
8.5
Rating (0–10 scale)
8.0
7.5
7.0
6.5
6.0 05 20
07 20
09 20
11 20
13 20
15 20 Source: HILDA 2018
One broker said how lucky she was that her husband has been the full-time carer, allowing her to pursue her career. “[It’s] a very different model to many of our friends and family; I am sure some still don’t fully understand.” With more women graduating in higher numbers from university, rising in the ranks at work and earning more than men, gender dynamics are at a tipping point. “It is creating a bit of an identity crisis for both genders around the historical roles that they’ve performed, and I think we have to have a really mature conversation about this and recognise what is actually going on and what is getting in the way of progress and opportunities,” Counsel said. “This is why solving this issue is not a simple thing; it’s a complex issue.”
Making it work While some women in our survey reported relationship break-ups, others praised their partners for their support and understanding and said they hadn’t encountered any setbacks.
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Making it work takes compromise, and it’s a constant work in progress. One broker said that, to help her partner better understand why her job was so mentally consuming, she started sharing more stories
wouldn’t interfere with their time together. In the end it’s a balancing act, and everyone has different experiences and different strategies. The anecdotes in our survey suggest that when women are seen and treated as equals, and the workload is divided fairly between partners, they’re happier and more productive as a result. “I think understanding, no judgment, flexibility and support will go a long way. If we’re expected to be everything to everyone, we deserve more flexibility and understanding when situations arise, and respect for the decisions we make,” one respondent said. When asked how they coped, many of the respondents said they relied on strong support networks. “Never be afraid to ask for help. For me, I love what I do and I’m very passionate about the industry and the opportunities it has offered me,” one broker said. Another said: “I always go to my network of like-minded friends, both male and female, to get their opinions. The biggest sufferer in all of this is that you don’t make time for you. It is a juggling act, and some days are worse than others, but we do it because we love it; it
“Being in a position now where I’m financially secure from building my business is one of the greatest feelings as a female” Broker of the emotional roller coaster her clients went through to get a loan and purchase a home. “[This is] so he understands what our responsibilities are, and how important it is to be there for your client to make sure you are putting them in a better financial position,” she said. Doing that, along with hiring support staff and making more time for herself, has helped her achieve a better balance in life. Another woman said that when she needed to work outside of office hours she did so when her partner was away or busy so that it
drives us to do better and be more successful.” Despite the hardships that one broker encountered in the early days of starting her business and raising two children as a single parent, she said she wouldn’t change anything. “Being in a position now where I’m financially secure from building my business is one of the greatest feelings as a female. If you do work hard in the early days and you manage your money properly, it does pay really well. It is a good job and there are a lot of benefits to it.”
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UPFRONT
OPINION
GOT AN OPINION THAT COUNTS? Email otiena.ellwand@keymedia.com
Leading by example CoreLogic CEO Lisa Claes explains why being a role model is the most important leadership role of all I’VE NEVER approached my career with the view that I was climbing a ladder from bottom to top. Instead, I’ve sought out what interests me. Becoming a CEO has been a consequence of this approach rather than the ultimate goal; it’s passion, not power, that’s motivated me. I inherited my work ethic from my mother, a real estate agent who has always been a huge role model for me. She operated at a time when gender bias wasn’t spoken of and so she didn’t ever consider it to be a barrier. Instead she was a powerful advocate of education and making connections, and her standards were incredibly high. I don’t think she knew what the word ‘impossible’ meant. Growing up, I saw her as a successful small business owner and operator and thought it was a very normal way of life. Lead the change As women in leadership, we’re in a position to positively influence change. There is much that we can do to encourage other women to get ahead, starting with being strong role models for young women in their formative years. Sitting on the board at a girls’ school, I still see a natural tendency among many young women to behave in ways that would be counterproductive to their progress in the real world. This includes a predilection to risk aversion and disqualifying themselves from opportunities because they lack confidence in their abilities. As parents, teachers and leaders we need to be sensitive to these traits and to consciously create environments and activities that encourage women to take
more risks, be comfortable with failure if it happens, and then have the confidence and courage to try again.
Learn and improve Success is an evolutionary process that requires constant incremental improvements. I believe that learning should always feature in your journey, no matter what stage you’re at in your career. Throughout my working life, I have
to help, so reach out for advice when you see an opportunity.
Nurture your talents and relationships We all have an academic history, but you need more than just exam results to be successful. There will always be high demand for people with excellent numerical ability, communication skills, passion and drive, so nurture what you’re good at and upskill where necessary. Equally important is your ability to develop the right networks in the right environment. As a broker there is much you can do to put yourself on the front foot with clients, such as researching their backgrounds to help form connections and create trust. Know their business and the environment they are operating in, and be clear about the value you can add. We need to invest wisely in our career futures, just as we do in our financial futures. By doing so, the ‘asset’ goes up – our quality of life improves, doors open, and we become better leaders, role models and contributors. The impact of this is extensive, benefiting not
I inherited my work ethic from my mother, a real estate agent who has always been a huge role model for me Lisa Claes, CoreLogic immersed myself in rich learning environments and looked for opportunities to expand my knowledge. From my early background in law to almost two decades in banking, and then more recently working across multiple geographies as a CEO, this diversity of experience has only enriched my understanding as an executive. At the same time I’ve sought out people who have helped me bring my skills and strengths to the fore. I’ve always gravitated towards high performers because I’ve wanted to learn from them, and I’ve benefited from tough but fair bosses who have dished out candid but constructive criticism to help shape my path forward. Earlier in my career, when I was transitioning from law to banking, I voraciously questioned my more experienced peers in order to better understand the intricacies of business. Most people are flattered and willing
only the individual but wider society and the economy as a whole. Finally, remember that success is a journey. There’s nothing wrong with having a goal in mind, but don’t get so caught up in it that you forget to focus on the process. Real success will come from doing the best you can at any point along the way. Make sure you’re always stepping forward, even if those steps are small. There are many variables on the path to success, but there are no shortcuts for hard work, self-reflection and a willingness to learn and adapt.
Lisa Claes is CEO of CoreLogic International, the largest property data and analytics company in the world. She was previously executive director of ING Australia and earlier in her career was a practising barrister.
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PEOPLE
BIG INTERVIEW
ANJA PANNEK: CHANCE ENCOUNTER Anja Pannek’s foray into the mortgage industry started like a scene from a movie, but the PLAN CEO’s leadership and advocacy for brokers, diversity and education have made her a mainstay of the sector
ANJA PANNEK got her break in the mortgage broking industry while she was boarding a plane in Dublin, Ireland, in the early 2000s. She had recently left her job at BT Financial Group, one of the largest fund management groups in Australia at the time, to take a year off to travel when she was spotted in the line-up by a former colleague. They talked and exchanged business cards and Pannek continued on her way. Upon her return to Australia, she was approached by that same person about joining Challenger Mortgage Management, a division of Challenger focused on third party mortgages. She took the opportunity, then quickly climbed the ranks and was appointed CFO. “This marked the start of my journey into the world of mortgages and broking, and made me realise the importance of relationship-building. You never know when your next opportunity will present itself,” says Pannek, now CEO of PLAN Australia and one of only a few women leading a major aggregator. While many people feel anxious about taking time off or spending money on a course
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or changing something in their business, Pannek believes it’s important to embrace the unknown if you have the chance. “It’s scary to be brave, but if you don’t like it you can always go back to what you were doing before. And you’ll be surprised by how
different roles and responsibilities, and I think this has really helped me grow. I am a massive advocate of personal learning,” Pannek says. At Challenger, as with previous roles that she held, new ideas were welcomed and
“I would like people to believe it is possible to be truly passionate about what you do, to feel challenged, and also to make a difference to the people you work with” much you learn in the process,” she says. “You can always keep doing the same thing, but you never know until you try.” Taking a break mid-career to travel solo allowed Pannek to learn more about herself and the world and to broaden her skills and knowledge, paving the way for her to switch tracks and step into a new industry. “We live in a fast-paced world, so curiosity and adaptability are essential to helping you progress – as a business leader and professional. I have been given numerous opportunities to learn on the job, with
staff were encouraged to take ownership of them. Pannek rose to the challenge and became invested in the mortgage industry very early on. “I don’t mean this to sound cliché, but I fell in love with the industry and seeing it grow over time. It’s been a brilliant journey.” Over Pannek’s 20-year career in financial services – which included several as CFO of NAB’s Personal Banking division, with over 7,000 employees – she’s come to enjoy and thrive in complex and uncertain environments. “I’ve been through multiple
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PROFILE Name: Anja Pannek Company: PLAN Australia Title: CEO Years in the industry: 20 Role model: One of Pannek’s role models was a deeply experienced banker she used to work with, who introduced Pannek to the concept of a ‘growth mindset’, which focuses on building resilience in business and life by learning and rebounding from failure. “I admired her because she went from a banking role to a completely different industry in a leadership position and was very comfortable putting herself in scenarios where she knew nothing,” Pannek says. “And the reason that she felt comfortable doing that was because she built a team around her to complement the skills she didn’t have. Her leadership was not directional; it was about how to lift and bring the whole team up together.”
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PEOPLE
BIG INTERVIEW
demergers and significant business sales and acquisitions over my career,” she says. “I’ve become a lot more comfortable with that sort of ambiguous environment, and the ability to create something new and impactful within it.” In her years in the mortgage industry she’s seen it become a massive driver of competition, with 17,000 brokers writing more than half of Australia’s home loans and contributing an estimated $2.8bn to the economy in 2017. But the industry is now in the midst of a new phase of disruption and uncertainty as brokers’ commissions come under scrutiny. “When I think about the future of this industry going forward, some of the answers we don’t have at the moment. So for me, as a leader, it’s about being comfortable in that uncomfortable position where you don’t have all the answers and you need to get perspectives and views around how we need to shape things,” Pannek says.
A STRONG CASE FOR DIVERSITY According to McKinsey & Company’s 2018 report, Delivering Through Diversity, the more diverse a workplace the better off it is financially. Here are some of the report’s key findings:
21%
33%
Companies in the top quartile for gender diversity on executive teams were 21% more likely to have above-average profitability than companies in the fourth quartile
Top-quartile companies for ethnic/cultural diversity were 33% more likely to outperform on profitability
Source: Customer Owned Banking Association
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Companies with the most ethnically/culturally diverse boards worldwide were 43% more likely to experience higher profits
Source: McKinsey & Company
“Diversity is not just an industry issue; it’s not just a corporate issue. It’s an issue right across the world that we live in, and we all want to work in businesses that are
“When women are active and equal in the workforce, everyone benefits. Not only are economies and living conditions stronger, but business outcomes can be improved” Creating diverse and equal workplaces can help businesses come up with those answers, and there are clear economic benefits to achieving a balance in broking. “When women are active and equal in the workforce, everyone benefits. Not only are economies and living conditions stronger, but business outcomes can be improved by having that diversity of thought,” she says. While women now make up 55% of the total workforce in financial services, they are still under-represented in the broking industry at 27% of brokers, something Pannek says the industry needs to address.
43%
representative of the societies that we live in. We all need to challenge ourselves around the decisions we make on how we hire and recruit, and who we promote.” One way PLAN Australia is doing this is by supporting, celebrating and nurturing women to become role models in the industry. This is one thing Pannek regrets. “If I was to go back and have my career again, I would have been a lot more vocal and proud of my achievements. … [I would have] shared more of my success stories, and how I achieved them, more widely so other people could have learnt.”
Sharing knowledge, facilitating brokers’ personal and professional growth and advocating for diversity are some of the things Pannek is passionate about. Last year the aggregator teamed up with one of the world’s leading universities, the Stanford Graduate School of Business, to offer its brokers the opportunity to expand their skills during a six-month strategic leadership program. As part of the course, 13 brokers, including six women, attended workshops at the university’s campus in California for a week in January. In 2019, the aggregator will develop its diversity engagement agenda and start reporting on its progress, and Pannek says she’s proud of the diversity of ages, backgrounds and genders that PLAN Australia is achieving in its broking network and leadership team. “I hope to be a positive role model for women in the industry, and someone who is an advocate for diversity and equality in the workplace. I would like people to believe it is possible to be truly passionate about what you do, to feel challenged, and also to make a difference to the people you work with.”
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SPECIAL REPORT
INDUSTRYINFLUENCERS INFLUENCERS INDUSTRY
SPEARHEADING PROGRESS Celebrating 12 women from across the broking and lending spectrum who are reinventing the industry’s image and revitalising broking
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THE WOMEN on the following pages are brokers, business owners, leaders, role models, mothers and industry advocates. They’re spearheading progress in their lives, workplaces and the sector at large, and leading the industry’s evolution. Their stories, which we’ve captured here in part, represent only short snippets of their incredible lives – the successes they’ve achieved, the hardships they’ve encountered, and how they are rising above gender stereotypes and other barriers to make the industry a more welcoming and inclusive environment for everyone. Both men and women sometimes look at ‘women only’ events with disdain and ask how
equality can be achieved if the sexes are segregated. But the truth is, the industry has long been – and continues to be – dominated by men, which means they have the upper hand simply by being in the majority. They are in the positions of power and privilege; their voices and stories are heard and represented in the media and at awards shows more often than those of women. That’s not to say that men don’t deserve their time to shine; it’s just that they have more opportunities to do so than women. In fact, many women profiled in this Special Report paid tribute to the male mentors they’ve had along the way and asked that they be commended for their support.
One common concern was expressed by the women featured in this issue: many were overly conscious of not wanting to come across as ‘bashing’ their male colleagues. While that is not the goal, perhaps this reinforces more than anything else that women still feel very much in the minority and are sometimes apologetic about accepting the praise they so clearly deserve. This Special Report is about giving women their own platform and levelling the playing field. It’s about celebrating and recognising the contributions of a small group of individuals, with the intention of inspiring others. And best of all, it’s just a small sample of the many stories that are out there.
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SIMONE TILLEY ANZ
AS THE only woman currently leading a major bank’s broking channel, Simone Tilley has made her mark on the industry, following the lead of her trailblazing mother. Tilley’s mother started an adhesive-label business in 1992 and was the first female flexographic printer in Australia to do this type of work, she says. “She was fearless and I learned a lot from her.” Having that kind of role model might explain why Tilley is a leader in her own right. But so does her strong work ethic and positive attitude. From a very young age, Tilley got used to living outside her comfort zone. Her first job as an agricultural science graduate took her to a remote part of Victoria, where she lived
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with no television for years and was forced to deal with isolation and appreciate her own
across various departments, including small business, corporate, institutional and regional/commercial banking. In between, she ran the manufacturing business that her mother founded, and later started a packaging business with her sister, before selling it to a multinational prior to the GFC. She and her husband, a Victoria police officer, also had two boys under two while running the family business. So Tilley knows what a lot of women brokers are going through as they juggle their business, marriage, children and household. “Running any household, irrespective of the dynamics, takes teamwork and communication, and I think when we look back we feel extremely grateful and fortunate,” she says. “Men play an instrumental role in supporting women, and fortunately in today’s society the majority know that.” As part of Tilley’s ongoing initiative to help women find their voices and speak their minds through the ANZ Doyenne, Women in Broking program, she hopes to also be a role model and provide a platform for women to share their thoughts, like her mother did for her. “I want to be seen as someone who is authentic and true to myself; who’s been adaptive over time. Someone who has been a thought leader, made a fundamental contribution to industries that I have served in, who has taken calculated risks along the
“Living the values, being equitable and treating others well are all incredibly important to me. Hopefully my legacy will be that I’m someone who’s had the courage to zig when others have zagged” company. In other words, Tilley learned how to adapt. That skill has helped her navigate her 20-year banking career spanning just under 10 years at ANZ, where she has worked
way. Living the values, being equitable and treating others well are all incredibly important to me. Hopefully my legacy will be that I'm someone who’s had the courage to zig when others have zagged.”
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SPECIAL REPORT
INDUSTRY INFLUENCERS
MacLeod has long had an interest in gender-related issues in the industry. At 19 she started working in car dealerships and quickly figured out that she could do what the rest of the guys did just as well, if not better. She learned how to write vehicle finance and volunteered to work on weekends, something her peers were more than happy to hand over. She soon started surpassing targets and expectations. At the time she was one of only three women between Sydney and Newcastle working in motor dealers as finance managers. Yet even as one of the best writers in the region and a manager in her own right,
“If we’re to survive in the financial services industry, particularly in the aftermath of the Hayne royal commission, we must commit to social responsibility”
MHAIRI MACLEOD ASTUTE ABILITY FINANCE GROUP MHAIRI MACLEOD has become one of the most well-known faces and most vocal advocates of the broking industry. That’s because MacLeod is focused on the bigger picture: how to make the industry more inclusive and welcoming to women, and how its members can give back to the community by teaching financial literacy and entrepreneurship to young people. Last year she commissioned a survey on
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gender equality in three traditionally maledominated industries: mortgage broking, professional sports and the motor trade. She put the survey questions to 20 men and women and had a psychologist review their responses and publish the findings. This year Macleod conducted another survey about the influence Generation Z and corporate social responsibility can have on recruitment and business growth.
Macleod had to deal with men asking for her boss, and undermining her skills and expertise. The experience allowed her to build resilience and solidified her can-do attitude. In 1998 she left to start her own broking business, Astute Ability Finance Group, which has grown to include asset and equipment finance, home and small business lending and personal loans. Many awards and accolades later, MacLeod is part of a number of initiatives and has started some of her own that aim to elevate the industry’s profile by contributing to the community. Today she is championed by associations, aggregators and others as an influential industry role model.
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SPECIAL REPORT
INDUSTRY INFLUENCERS MANY WOMEN worry that saying no to some events or opportunities could be career limiting. That’s certainly something that Rachel Morrison, CBA’s state sales manager for Victoria, has considered in the past. She says one of the greatest challenges she faces is balancing having both a family and a career. Morrison started her career in banking as a teller at NAB and quickly discovered her passion for lending and leadership. After 14 years at NAB, she joined CBA and became responsible for a team of 15 branch lenders. Having accumulated several years’ experience in retail banking, she jumped at the chance to work with brokers. “Thankfully, times have changed and businesses now offer great flexible working arrangements to suit all employees, regardless of their gender or career stage. Gone are the days when women needed to adapt to a male-dominated field. Today, industry leaders welcome diversification and actively find better ways to connect
ROSE DE ROSSI DIVERSIFI
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with employees on both a business and personal level,” she says. “I regularly have conference calls and other meetings with brokers – both men and women – who are on their way to an appointment, working from home, picking the kids up from school, or at their children’s sport practice. This move towards greater workplace flexibility has helped build a more supportive and inclusive industry.” Her biggest piece of advice for new entrants is to be true to yourself and believe in yourself. “Being successful in your chosen career is determined by the individual, not their gender,” she says. “Success doesn’t happen overnight, and it is often paired with passion, commitment, strong relationships, as well as a solid business plan and goals. There will be hurdles along the way, so learn how to overcome them quickly and confidently, and partner up with others who can help you to grow and develop your business.”
WHEN ROSE DE ROSSI started Diversifi with her business partner, Tracey Lea Gilbert, she found she had very different struggles to her male colleagues. She’d recently left her job working as a lender at a bank to become a broker, and was hoping to have more flexibility to take care of her child at home. But it was harder than she anticipated. “Initially, it was quite tough to juggle business and family life, especially when you aspire to have a team and office,” she says. Her male peers didn’t always understand her need to prioritise family. “My husband ended up being a Mr Mum for eight years during this time to enable me to grow and prosper. Financially it was really tough, but we knew the rewards would be there in the long run. Just being able to attend school assemblies or sports day was such a bonus back then. Now my kids are adults and I can concentrate on my personal career development and taking Diversifi to the next level.” While the industry has become more
RACHEL MORRISON CBA
welcoming and accepting of women brokers, De Rossi, who is on the MFAA’s national board of directors, says it’s important to be mindful of the toll such a solitary profession can have on mental wellbeing – especially if you’re a working mum. “Having access to your peers for support can help detract from loneliness and frustrations.” Both the industry and consumers’ preferences have evolved since De Rossi’s early days. Now many clients are eager to speak to a woman broker. “We guide, nurture, explain and take a more personal interest in our clients. We can become emotionally invested in the client. I believe this shows the client that we are on their side and working in their best interests,” De Rossi says. While men and women brokers have different needs and strengths, women brokers don’t want to be treated any differently than their male counterparts. “We have the same role as men. We may execute it a bit differently, but in reality female brokers are brokers.”
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SPECIAL REPORT
INDUSTRY INFLUENCERS
#TEAMGIRLS Last year Suncorp launched a new initiative with Netball Australia and ReachOut Australia called #TeamGirls to help young Australians develop their confidence and become role models for their peers. The initiative focuses on three core pillars – goal setting, sports participation and positive social behaviours – in response to findings in the Suncorp Australian Youth & Confidence Research Report, which found that:
75%
of teenage girls derive confidence through the support of friends and family
78%
of girls are inspired by role models who help others
RENEE BLETHYN SUNCORP
RENEE BLETHYN doesn’t speak last any more. “The biggest thing I’ve learned is needing to get comfortable with the feeling of discomfort that you may have about speaking up in a room where you have a different idea or opinion,” says the national partnerships manager at Suncorp. This hesitation to speak is sometimes perceived as a gender issue. But Blethyn doesn’t think it’s something only women face. What it is indicative of is the importance of building workplace cultures that accept, welcome and value diverse opinions.
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Once Blethyn realised that even if she did have an opposing point of view it was well received and seriously considered, she became more confident about speaking up first. Blethyn grew up surrounded by female role models. Her parents owned several women’s clothing stores that were managed by women. She didn’t realise that systemic gender-based biases existed until she took her first corporate job at a major telecommunications company at 18. Rather than feel obstructed by her gender, she decided to stick with the values she’d learned growing up. “Provided you have the skills, confidence
3 in 4
parents believe social media is negatively impacting their teens’ self-esteem
54%
of Australian girls participate in organised sport compared to 67% of boys
and you actually add value, there are no limitations to what you can do,” she says. One challenge a lot of women face is overcoming the need to be perfect. “There is a common conversation that if there’s a job vacancy women will look at it and feel they need to meet all 10 criteria to apply. I encourage more women to back themselves and say, ‘I have five; that’s fine – I can build the other five’,” she says. While achieving gender balance and diversity is a great accomplishment for any company, it needs to extend beyond numbers to incorporate workplace attitudes and culture. “If you don’t create an environment where people feel safe and comfortable to contribute their different viewpoints, you’re not actually going to achieve anything,” Blethyn says. “For me, we actually need to look wider when it comes to diversity, and not just at gender. It’s about inclusion.”
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LEADERSHIP POSITIONS have traditionally been associated with long hours, travel and nights away from home, making them much less appealing to women, especially mothers. Gabrielle Moscati, national sales manager at ALI Group, knows this well. She once turned down a national role because she didn’t want to spend time away. “At that stage of my life, I felt I needed to put my teenage daughters’ needs first, and I still believe it was the right thing to do at the time,” she says. With technology making flexible work possible, Moscati says women shouldn’t automatically count themselves out of the top jobs. “If you’re the right person for the job, and the job is right for you at that time, hopefully you can find a way to make it work,” she says. Businesses need to be more open about accepting women’s transitions between roles
ROOMA NANDA ALL R LOANS
as their needs change, Moscati adds. “Women shouldn’t feel that they have to conform to a traditional path. Part-time work, selfemployment, time out of the workforce studying, and working from home can all be part of the journey.” At ALI Group, there are three women, including Moscati, and two men in leadership positions. “Unsurprisingly our approaches are different, not based solely on gender but also on personality profile. The differences really work for us as we each bring a different perspective to the table. I think a balance of genders has been beneficial to the business.” For the most part Moscati says she doesn’t think about the fact that she’s a woman. “I only really notice it when I am at a work function and it’s a sea of suits. I think that the same principles apply to everyone: be customer-centric, deliver on your promises, treat your employees well, empathise, plan, the list goes on.”
ROOMA NANDA had been working for companies like Yellow Pages and IBM for almost eight years when she started “visualising a better and bigger world”. After a fateful meeting with an Aussie broker, she decided to become a broker in 2014. She’s now considered one of Australia’s elite brokers, having made it into MPA’s Top 100 listing in 2017. “I believe that building a business is about reinventing yourself over and over again, whether you are a man or a woman,” she says. Despite spending years in the maledominated corporate world, Nanda says she’s never felt like she had fewer opportunities than men. In fact, she thinks the main challenge for women is often battling their own mindset. “On the contrary, we have more inner strength than men, and we can create more opportunities for ourselves,” she says. In saying that, though, Nanda also realises that double standards still exist, as illustrated by this story she tells about PepsiCo CEO Indra Nooyi. On the day Nooyi was appointed to the position, she left work early to go share the good
GABRIELLE MOSCATI ALI GROUP
news with her family. When she arrived home at 10pm, her mother stopped her in the driveway and before she could say anything asked her if she’d pop out to buy some milk. When Nooyi asked why she hadn’t sent Nooyi’s husband, who’d been home for a couple of hours already, to buy the milk, her mother responded, “He was tired”. While traditional gender roles still exist, that’s starting to change thanks to parents who are raising boys and girls as equals, Nanda says. Nanda has played a role in encouraging young girls to become entrepreneurs by showcasing the cupcake and candlestick business of two local girls, who set up their wares at her home loan health check booth at St Ives Mall. Over the years, Nanda has seen the broking industry evolve for the better for women. “I would personally encourage more and more women to enter this field and serve the community with their caring skills,” she says. “We live in a free society, and there are opportunities waiting for women to grab! People like me can show them the ropes and help them grow with professional support.”
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Sale has experienced the boys’ club mentality of the broking industry and has had to jump through many more hoops than her male peers. She’s also seen less qualified men obtain roles that more qualified and better-suited women had applied for. But she believes the number of ‘old school’ thinkers in the industry is starting to dwindle. When she started her independent boutique aggregator, Outsource Financial, she received tremendous support from the lenders she got on her panel. “I put that down to the relationship I had with them, and they knew of my success, etc.
“Whether you are male or female, you want to be respected ... that will see you go to great heights”
TANYA SALE OUTSOURCE FINANCIAL TANYA SALE’S advice to young women when they walk into a room full of men is to always act like professionals and be themselves. “Do not drink because you feel you have to drink to be part of that culture. Do not act any different to how you would normally,”
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says Sale, CEO of Outsource Financial, the only independent aggregator in Australia that’s owned and led by a woman. “Whether you are male or female, you want to be respected, and it is that respect that will see you go to great heights in any industry that you have chosen to be part of.”
They didn’t care that I was a woman – they actually cared if this was going to be a positive and successful situation for both parties, and to this day I can’t thank them enough.” But there were still the cynics. “When I was starting up Outsource Financial, I was being told that I would never get it off the ground and it would never survive, let alone succeed,” she says. Once the business started to grow and expand, she was criticised by another aggregator head for “mollycoddling” her brokers too much. Call it mollycoddling or call it caring, that’s what’s made Sale’s business and brokers so successful. “I care about their success. I care if they are getting too stressed. I care when something happens to them out of the ordinary – all of those things. I listen when they say that they need things to set them apart from the rest. The relationship I have with our members is very strong, no matter if they are writing one loan a month or 10.”
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commissions to the McGrath Foundation. By 2016, she’d donated more than $50,000 to the foundation, which went towards supporting breast care nurses as they educated young women in rural and regional Australia to be breast cancer aware. At the time Cannon founded her business, broking was being portrayed in the media as a greedy industry, and she wanted to do something to prove that wrong. “The media was really saying that our industry is only in it for the high commissions. This is not true for 99% of us brokers. I wanted to make a point by
“[Being in business] is a roller coaster, and that will never change; it is your attitude and how you tackle the turbulent times that determines your long-term success”
NICOLE CANNON PINK FINANCE WHEN NICOLE CANNON struck out on her own to form Pink Finance in 2009, she was told by another broker that she wouldn’t be able to make it on her own – a belief she held for some time. She’d just left her partner as she was starting up the business and had little financial support. “Cash flow was a huge issue and barrier for me at the start of my business, but I dug
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in deep and kept chipping away and slowly built up my business,” she says. “Thanks to having incredible mentors around me, I worked through that belief so that I came to value the ability to run a financially sound business.” Cannon not only built a successful business but one that also gives back to the community. She donates 10% of her trailing
giving a significant portion [of my commission] back to the community to prove we do care – about our clients, the community,” she says. Over the last 15 years, Cannon has seen the industry become more diverse. When she first started, there were only ever one or two women at any function. “It is great to see so many more women acknowledged and recognised in this industry,” she says. While loan applications are no longer handwritten and faxed, the challenges of starting a business remain. Cannon says her mentees don’t believe her when she tells them it will take at least 18 months before they start making a stable income. “Loans are harder to get across the line, take longer to settle, and having cash flow to fund your business is critical.”
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everything by herself: run her business, be there for her kids and her husband, and look after the household. Finally, she’d had enough. She asked her husband to take charge of the meal planning and the grocery shopping and told him, “I don’t care what we eat; just put something in front of me. Don’t even ask me what I want for dinner”. As soon as he did that, her stress levels started to taper and she could focus on more important things. “Don’t be afraid to ask for others to help,” Janssens says – especially if it’s asking a partner to share more of the load. “Men aren’t as intuitive as women. They
“We’re literally prioritising laundry over our super, and that’s something I’m working really hard to shift”
NATASHA JANSSENS WOMEN WITH CENTS A FEW months ago, Natasha Janssens, founder and director of Canberra-based Women with Cents, asked her business community what they considered to be the biggest obstacle holding them back from playing a more active role in their finances. The top response was mental load. “Typically, as mums we’re overwhelmed with everything we need to do; money falls by the wayside. Everything to do with investing
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or with super are all things down the track, we’re so focused on the immediate,” says Janssens, who is an accountant, financial planner, broker and mother of two. “We’re literally prioritising laundry over our super, and that’s something I’m working really hard to shift.” Janssens learned an important lesson about dealing with her own mental load a couple of years ago. She was trying to do
will be there and they’ll help you out, and in most cases they’ll do anything you ask them to do, but they’re not as good as women are at seeing that someone is struggling with what they have on their plate and proactively saying, ‘Let me help you with that’. As women we need to get better at saying, ‘Can I have a helping hand?’” Janssens’ business was born in 2016 out of the realisation that women wanted and needed financial guidance but didn’t know where to turn. “It never occurred to me that my clients, especially female clients, might feel intimidated about coming to see an accountant or feel silly if they asked the wrong question.” Now Janssens’ finance firm offers workshops and online courses and has grown into a community approaching 8,000 members. She’ll soon be releasing a book, and has released a podcast called Cents and the City, which plays on the fact that money is sometimes an even more taboo subject than sex.
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EARLY ON in Natalie Sheehan’s career, she was overlooked for a management course because her manager thought it would be wasted on someone of “childbearing age”. “Yes, that actually happened,” says Sheehan, who is now GM of sales and distribution at non-bank lender Better Choice.
And that’s not the only tale she has about working in the male-dominated industries of banking, construction, insolvency and mortgage broking. On another occasion she was mistaken for a manager’s assistant and was asked to make the coffee when she was actually the manager of the entire bank branch. Despite her success, there have been times when Sheehan has felt intimidated and has doubted her abilities. “I have had to fight for my place at the table,” she says. “Being able to adapt and bounce back when things don't go as planned, acknowledging a tough situation, learning from my mistakes but continuing to move forward, have been the key lessons learned to date.” One of the hardest things she’s ever done was raise two children as a single parent while working full-time and studying. “I have also been very fortunate to have some wonderful mentors both professionally and personally who have supported and advocated for me along the way. The interesting fact is that my mentors to date have all been men.” Sheehan’s mentors taught her to think differently and pursue opportunities she never would have put herself forward for. Creating formal mentorship opportunities for women, offering flexible working arrangements, and providing safe work-
ENCOURAGING BROKERS to consider diversifying into business and commercial lending isn’t always easy. “It’s still challenging for women who work in industries that are traditionally maledominated. In an industry where women represent 27% of brokers, sometimes we may feel we need to go over and above in order to be seen as equal,” says Ivana Pipic-Batar, a partnership manager at FAST. “Getting out of their comfort zone and going into business and commercial lending is stressful enough – and some women may feel the added pressure of having to do it right every single time, even if
they’re doing it for the very first time.” Pipic-Batar says listening, learning and understanding a client’s needs are key qualities of a successful commercial broker. “It’s so important that brokers look at the big picture and find a solution to a problem or a challenge their client may have – and women are great at this,” she says. Pipic-Batar still remembers writing her first commercial property loan for $5.5m. “It was a really exciting moment for me. Commercial and business lending has its challenges and complexities, and there is absolutely no reason why more women brokers shouldn’t be doing it.”
NATALIE SHEEHAN
BETTER CHOICE
LIFE OUTSIDE OF WORK Natalie Sheehan is an avid cyclist. On most mornings before work, she cycles 40–50km. She recently completed a ride across Spain and France, from the Atlantic Ocean to the Mediterranean, riding 1,520km in 14 days and climbing over 24,000 vertical metres. She’s also passionate about supporting charities through her rides, such as the Wesley Mission and the National Breast Cancer Foundation. “Work-life balance is an interesting concept,” she says. “I prefer to just think of rebalancing my life when one aspect has had too much attention and I need to refocus on another area. “My life has the following important aspects: health, family, work, personal development, rest/recovery and community/giving. Some weeks I am present in all areas of my life and at other times I feel like I am being pulled strongly in one direction or another. As long as I give myself time every week to step back, take stock and review, everything balances out again. I find that when I am cycling I have the clearest headspace and can identify if I need to refocus my energy or dedicate more time to something.”
places where women feel comfortable about challenging inappropriate behaviour and intimidation are some of the initiatives companies should be adopting to create fairer workplaces, Sheehan says. “Cultural attitudes are changing. It is an ongoing process and there is still more to do, but there really are some great success stories starting to emerge.”
IVANA PIPIC-BATAR FAST
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WOMEN IN BROKING
LEADERSHIP
A high bar for equality Since long before Westpac became the first big four bank to appoint a female CEO, it’s been on a mission to create a more equal workplace OVER ITS 200-year history, Westpac has built a reputation as a leader in gender diversity. And the story begins well before it appointed Gail Kelly as CEO in 2008, making it the first big four bank to put a woman at the helm. In fact, Westpac was the country’s first bank to recruit a female bank teller, bank manager, general manager and board director,
Wood says. “As individuals we all bring complementary skills to the table – we are big supporters of one another and leverage each other’s skills.” While having three women in leadership positions is still something to applaud and recognise, it’s slowly becoming more common, especially at Westpac. Coinciding with its
“We have a strong history of embracing our diverse workforce, which gives us better insight into the goals and priorities of our brokers and their customers” Bridget Wallington, Westpac and it was the first company to introduce paid maternity leave in 1995. Continuing this tradition, today the bank has three female state general managers leading its broking business on the eastern seaboard: Suzanne Wood in Vic/Tas, Sarah Willsallen in NSW/ACT, and Bridget Wallington in Qld. “I’m really proud of the fact that we have three female general managers in our team. We are a unique group of leaders, with a broad and diverse range of skills and experience,”
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bicentennial anniversary last year, the bank reached gender parity in leadership roles. With today’s graduating classes looking vastly different from the ones 20 to 30 years ago, it’s just a matter of time before more workplaces reflect that. “There’s a pipeline of females emerging as leaders and progressing towards senior roles,” Willsallen says. “Changing attitudes towards flexibility and male caregiving, coupled with the ongoing evolution of technology, will better enable these barriers to reduce over time.”
Cultivating those leaders is an important part of Westpac’s mission to foster gender balance, inclusion and diversity. The bank has mandated that 50% of women should be on its recruitment shortlists for all leadership roles, and that 50% of participants in its high-potential program and graduate program should be women. The Westpac Equilibrium program, now in its fourth year, is designed to support women leaders – those who are already working within the organisation and those who come from non-banking backgrounds – as they take the next step in their careers. The program recognises the value of the transferable skills, experiences and perspectives that many women bring from other industries. The bank also has a Women of Westpac Employee Action Group, which is run by employees and designed to give female employees the opportunity to learn from and connect with one another. “Westpac truly embraces diversity. We have a strong history of embracing our diverse workforce, which gives us better insight into the goals and priorities of our brokers and their customers,” Wallington says.
How can others learn from your journeys to the top? Wood, Willsallen and Wallington all agree that hard work, great mentors and genuinely connecting and caring for people are the foundations of their success. “When you are clear on your purpose, when you look after your team and keep the customer at the centre of what you do, you put yourself in a strong position to take up the next challenge or opportunity,” Wood says. They’re also quick to praise their teams. “I have always liked the Harry Truman quote: ‘It is amazing what you can accomplish if you do not care who gets the credit for it’,” Willsallen says. “I am most proud of the fabulous teams
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I have been part of as we have grown and transformed. Watching their personal growth and seeing the impact we have had on the business and our customers has always been tremendously rewarding for me.” All three emphasise the importance of believing in and being true to yourself, especially when it comes to standing out and stepping up for new roles. “Find your own style, play to your own strengths, and don’t be afraid to be the one person in the room with a totally different perspective from everyone else,” Wallington says.
day’s work ahead. “I make sure the important things are well planned both at work and home, and everything else needs to be flexible. Focus on what’s most important day by day and things will work out,” Wood says. With so many tasks and commitments on the go, many women can relate to feeling stretched in all directions. As a result, many put their own needs last. Willsallen’s advice is to “above all, be gentle on yourself ”. “Create time for yourself as it makes you more effective. It can feel indulgent
WESTPAC’S FIRSTS
In 1995 • One of the first publicly listed companies in Australia to begin offering paid parental leave In 1998 • First to provide paid parental leave for partners In 2008
“Create time for yourself as it makes you more effective. It can feel indulgent or selfish, but a more balanced ‘you’ is a happier, better, healthier ... person to be around” Sarah Willsallen, Westpac One of the biggest barriers for women is not always other people but their own “limiting beliefs”, Wood says. She urges women to invest time in their professional development, build advocates, and network so they’ll be noticed for opportunities that will allow them to learn and grow.
How do you balance work and life? Wood, for one, starts her day at the crack of dawn. With three children at home, she has to be disciplined about her morning routine. “It’s my calm before the day ahead. For me, being fit, spending time with my children, and investing in self-development create my balance. Every day starts around 5am to exercise, have breakfast with the kids and listen to audiobooks on my commute to work,” she says. Ticking off some of those fulfilling personal things helps to prepare her for the
or selfish, but a more balanced ‘you’ is a happier, better, healthier and more enjoyable person to be around.” Wallington emphasises the importance of not putting too much pressure on yourself. “Things happen in life, and there will be times when personal events have to take priority over work. Good leaders will understand and accommodate for those times in your life,” she says.
What does the future look like? The line-up outside the women’s bathroom at mortgage events these days is a good indication of how the industry is changing. “Twenty years ago, that wasn’t the case,” Willsallen says. Technology, flexible working practices and a much greater emphasis on diversity of all types have made a big difference to the make-up of the workforce, she adds.
• First of Australia’s big four banks to be led by a female CEO In 2010 • First private sector company to pay superannuation on unpaid parental leave In 2016 • First bank to make it a standard operating procedure to recognise a customer’s paid parental leave and return-to-work income in their borrowing capacity for home lending In 2017 • Reached 50% women in leadership roles • First bank to recruit a female bank teller, bank manager, general manager, board director and CEO
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WOMEN IN BROKING
LEADERSHIP
YOUR TAKE ON…
Self-doubt
Nurturing other women
Persevering when you hit the bottom
Suzanne Wood
Sarah Willsallen
Bridget Wallington
“Use it to your advantage – don’t let it paralyse you. You will have self-doubt, and that’s OK, but don’t let it stop you.”
“Trust in your own track record. If you are never feeling self-doubt, you just aren’t challenging yourself enough to push out of your comfort zone. If you aren’t uncomfortable you aren’t growing.”
“Unhelpful. Everyone has times of self-doubt, but you need to banish it quickly if you’re trying to motivate a team.”
“Why wouldn’t you?”
“Pay it forward. Be generous with your time and insights as well. We owe what we have achieved to those who came before us – we have to honour that heritage by doing the same for the next generation.”
“Very important. I have been very fortunate in the support I have received from other women throughout my career.”
“When times are tough, that’s when people watch to see how you will respond. That’s when you get to show others what you’re made of.”
“You win or you learn, and every day in life should still be a school day! Believe each and every morning that your best is yet to come.”
“The key to true success. Anyone can succeed when things are going well. It’s the tough times that make you grow.”
Broking is also an appealing career move for many women who want the autonomy that comes with being a small business owner. “Equally, with women being key decision makers with regard to their finances, the attraction of female brokers reflecting the communities they serve is compelling for customers. It’s great to see female brokers being successful, and I look forward to the trend continuing,” Willsallen says. Large businesses like Westpac are setting the gold standard for what all companies should be striving to achieve – an inclusive workplace in which people of all backgrounds feel valued and open, honest feedback is encouraged. Men are also an important part of this
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“I’m really proud of the fact that we have three female general managers in our team. We are a unique group of leaders, with a broad and diverse range of skills” Suzanne Wood, Westpac process. Not only should men in leadership positions be demonstrating the desired behaviours and expectations to those around them, but they also play a vital role in mentoring high-potential women in the industry and setting an example for other men to emulate.
“As with all aspects of this topic, we just need to continue the conversation. The more we talk about it, the more people become aware of it,” Willsallen says. “[And] the more changes we will see,” Wallington adds.
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19 October • The Star Sydney
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WOMEN IN BROKING
BUSINESS LENDING
The next wave of business lenders FAST’s proactive approach to diversification has allowed its brokers to better serve their clients, grow their businesses and excel at commercial business lending – and women are embracing the challenge THERE IS perhaps a misconception that women brokers shy away from writing more complex commercial deals, but FAST CEO Brendan Wright says he hasn’t seen that at all. “There are many high-performing female brokers in the industry, and they provide fantastic customer service and understanding of business lending. FAST female brokers have for many years provided a broad spectrum of lending services across business, asset and equipment finance and home lending,” Wright says. As of August 2017, a third of the aggregator’s brokers were women. And today a third of all business loans in Australia are originated by FAST brokers. Clearly, FAST’s strategy to enable and empower all of its brokers to write business loans is working. “We are passionate about this proposition and have made this our priority because we believe the most successful brokers are those who can capture diverse revenue streams and have strong systems and support that enable them to meet their clients’
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broader financial needs,” Wright says. With 40% of their customer base being self-employed or small business owners, it makes sense for brokers to offer a wider range of finance options to better service their clients and grow their own businesses. Like with any new business decision,
Women and commercial finance Just four years ago FAST broker and TM Finance Group director Belinda Gibson was one of the only women at commercial finance broking events. “This has since changed and I am now lucky to have a strong network of both residential and commercial women finance brokers supportive of each other’s growth. Between us there is a huge amount of knowledge and expertise, so if we are stuck for a solution help isn’t too far away,” she says. FAST has long been a proponent of diversity in the workplace. In 2013 it launched its Women in Business event series to support and encourage more women to join broking and finance. Now in its sixth year, the annual event offers brokers a chance to gain insights from their professional peers and awardwinning speakers. “By embracing diversity you can get different perspectives [involved] to solve problems in a complex and ambiguous environment, and we are certainly in that now,” Wright said at the Sydney event in August. To help brokers navigate the challenges in the market, FAST offers an extensive PD and training program throughout the year.
“There are many high-performing female brokers [who] provide fantastic customer service and understanding of commercial lending” Brendan Wright, FAST choosing to diversify into the complex landscape of business lending can be challenging, which is why brokers first need to really understand their clients’ business models, Wright says. With FAST’s assistance, support and training programs, brokers can learn how to start those conversations, collect the right information and get the process going.
“We have developed specific capability programs for commercial and asset finance lending by partnering with industry bodies like MFAA and CAFBA, as well as lenders, to help brokers step into this environment, further develop and master commercial and equipment finance,” he says. “The key for any broker is to identify opportunities and capabilities that they
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UNDERSTANDING YOUR CLIENT Just like home lending, business lending is all about building a strong rapport with your client and understanding their business needs, now and in the future. FAST broker and TM Finance Group director Belinda Gibson – who currently specialises in property, cash flow and specialist lending – provides some starting points for that conversation:
need to build to deliver good customer outcomes. Personally, I believe success is driven by individual effort, education and training, and has nothing to do with gender.” Gibson, who came from a commercial banking background and had both male and female mentors, has the same view. “There aren’t any gender-specific barriers
“Even though many women brokers have the qualifications, expertise and customer relationships to start writing commercial loans, they may end up holding back their plans to diversify into new revenue streams due to a lack of experience or knowledge gaps,” she says. However, once they identify the need,
“When trying anything new in lending ... ultimately you adjust. It’s about having the confidence and backing yourself ” Belinda Gibson, TM Finance Group in the industry. When trying anything new in lending, you need to learn the policy, and ultimately you adjust. It’s about having the confidence and backing yourself, knowing your client and their needs,” she says. With many women having, by nature, good interpersonal skills, they can build strong relationships quite easily by listening to clients and reading their cues, Gibson says.
FAST can help them advance the deal to the next step. One way it does this is through its Commercial Broker Forums, which allow new commercial brokers to network with more experienced brokers, meet panel lenders and ask questions. “This may be overwhelming to someone starting out, but by empowering yourself with knowledge and utilising your BDMs
What’s your client’s business, how does it work and who are their customers? How do they generate an income? What is their cash flow cycle? What are their needs, and what do they plan to do with their business in the future? “The more you can learn about each customer and their business, the easier it becomes to identify solutions and build a strong long-term relationship,” Gibson says. “It’s certainly not easy, but like residential lending, policies change, we learn, we adapt, and at the end of the day we are looking for a great customer outcome for our clients.”
for support, opening up to your networks and asking questions will make the process a whole lot easier,” Gibson says. With a panel of more than 36 lenders, a robust BDM support system and a proactive and encouraging approach to diversification, FAST has helped hundreds of brokers gain a reputation as leaders in commercial finance.
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WOMEN IN BROKING
GENDER BARRIERS
Making the invisible visible A new MFAA survey shows significant gaps between how men and women perceive the barriers that women face in the mortgage broking industry. The survey is the first step in a larger plan to create awareness and change in industry culture and workplaces MORE THAN 70% of men in the broking industry don’t believe women face any barriers in the third party channel. Likewise, nearly 60% of men don’t believe women are underrepresented in broking. Pose those same questions to women and the results differ significantly. Of the 60% of women who believe barriers do exist, ‘unconscious beliefs about gender roles in the workplace’ is considered the most pressing, followed by ‘industry culture that is not
barriers to female participation in broking, and to better understand what positive attributes the industry has that might appeal to diverse employees. The MFAA received an overwhelming response to the survey, with more than 750 industry professionals – both male and female – participating and providing additional commentary. The research reveals significant perception gaps between men and women, which can
“If we create a more inclusive industry culture then you will by default create opportunities for broader diversity” Jane Counsel, MFAA consultant inclusive of women’ and a ‘lack of industry experience and expertise’. And contrary to the male view, nearly 60% of women believe their gender is under-represented in broking. These results come from a first-of-its-kind survey that the MFAA conducted to identify
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create stumbling blocks to progress. If one half of the population says it’s experiencing barriers but the other half – most of whom are in positions of power – don’t see, hear of or experience them first-hand, change is less likely to be a main priority.
“[Barriers are] often invisible to people in those senior influencing roles in the industry. What initiatives like this do is make the ‘invisible’ visible to everyone by highlighting the perception gaps, the uncertainties, and getting people to talk about specific examples of things that are holding them back,” says Jane Counsel, principal consultant at Executive Central and lead researcher for the MFAA’s survey. The data also shows interesting perception gaps between people of different ages. Women aged 48 and over are more likely to report barriers to women’s progress than younger women, who say the largest challenge they face is burnout and lack of income in the early years. Middle-aged women, from 36 to 46, identify safety as their top concern.
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Men under 35 say they don’t believe there are enough mentors and sponsors for both women and men in the industry, which suggests they are also looking for more support with career progression and development, Counsel says. Both men and women made comments about the industry ‘boys’ club’, suggesting that some barriers were not specific to one gender. “There’s a cultural piece as well around some of the historical structures of the industry and dynamics around tenure and existing relationships that people have built over a long period of time,” Counsel explains. Counsel was most surprised to learn what predominantly attracts people to the broking industry. Both male and female respondents agree that ‘flexible working conditions’ is
the number one appeal for women, while ‘attractive salary’ is the last consideration. “You’d think in financial services that salary is always a big appeal for employees, but what the responses are actually showing us is while salary and financial remuneration are important, they’re not necessarily as important as the ability to work in a way that suits one’s individual and diverse needs and also the ability to work for oneself,” she says. Rose De Rossi, director of Diversifi, says flexibility was a big part of why she became a broker. “I was working part-time in a bank as a lender and had one child at home. I wanted the flexibility of working from home, dictating my own hours, and wanted to be able to help those clients that I was currently turning away if they didn’t fit our bank policy,” she says. That is a common theme among women brokers, which means that providing greater flexibility in training and development will help attract and retain more women. Furthermore, promoting successful and diverse role models should demonstrate to prospective entrants what a career in broking looks like. Nicole Cannon, director of Pink Finance, says acknowledging that women and men thrive in different environments, and recognising that some women may feel intimidated in a setting dominated by men, is important. “I think having women-specific events gives women who may not go to a [regular] industry event the chance to share their experiences and increase their contacts in the industry,” Cannon says. The MFAA is now planning to hold focus groups with industry participants around the country to unpack the survey data and collect more detailed feedback to support the numbers. Once that is completed, the MFAA will develop strategic recommendations and initiatives that
IS THE INDUSTRY FULLY LEVERAGING THE DIVERSITY OF ITS MEMBERS? 6%
43% Yes
51% Unsure
No
Number of respondents: 480 males
11%
43% Yes
Unsure
46%
No
Number of respondents: 228 females Source: MFAA
organisations can implement in their own workplaces to make them more inclusive. The MFAA is planning to release the first report in late September after getting feedback from more than 50 industry workshop participants. “The report showed that many in the industry responded [to questions] with ‘unsure’, and from a research point of view this presents an opportunity for change across the industry. If we create a more inclusive industry culture then you will by default create opportunities for broader diversity,” Counsel says.
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27/08/2018 2:04 AM
WOMEN IN BROKING
RISING ABOVE
Feeling the pressure to be perfect Women often feel like they have to make more of an effort than their male peers to stand out, but Bluestone state manager Ebony Maxwell says that shouldn’t deter them from going after what they want
WOMEN OFTEN say that in order to stay on top of their jobs and their families – and meet society’s expectations – they have to devote more than 100% of themselves to both. For someone like Ebony Maxwell, state manager of Victoria and Tasmania at Bluestone, and the mother of an eight-yearold boy and a 12-year-old girl on the autism spectrum, that is certainly the case. “It seems like sometimes we need to prove ourselves a little bit more than men. In all the roles that I’ve been in, women have always been the minority,” Maxwell says. In financial and insurance services, women make up only 22% of senior leaders, according to a recent report from the Workplace Gender Equality Agency. Maxwell wonders if that’s one of the reasons why they aren’t always taken as seriously as their male counterparts in leadership positions, something she’s experienced first-hand. That lack of representation does explain why women feel more pressure to be perfect. “We really need to give 120% for us to get noticed,” she says. Despite the extra effort that many women put in, they still don’t get the
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recognition they deserve. Often it’s actually the opposite: they may feel uncomfortable about working long hours, travelling for work and being away from their children, and they struggle to achieve that elusive work-life balance that everyone seems to demand of them. As a 35-year-old state manager, Maxwell sometimes encounters people who doubt her because she appears young. However, she says, “When I have conversations with brokers and talk them through the application process, they realise that I have expertise and experience and I’ve earned my stripes. I have credibility behind me as well.”
Maxwell may be young, but she started in the mortgage industry early, working with La Trobe Financial’s settlements team at the age of 18. A move to Gawler in South Australia prompted her and a business partner to open a Wizard Home Loans franchise, where she worked as a broker for four years and took a keen interest in the specialist space. After selling her half of the franchise, Maxwell returned to Melbourne where she worked at GE Money as a branch manager and then sales development manager, before joining Bluestone’s team as a BDM four years ago.
EBONY MAXWELL’S TIPS ON STRIKING A BALANCE Build a thick skin: Women are often told they can’t do this or they can’t do that. Ignore it and prove them wrong. “Never give up on something you want,” Maxwell says. Share your story: “Sometimes we think we are in our own little box, but just sharing and resonating with other people’s stories, I think that definitely brings people out of their comfort zones.” Expertise and experience: “You’ve got the knowledge, you’ve done the work, so say goodbye to those doubters – yourself included.”
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“It seems like sometimes we need to prove ourselves a little bit more than men … We really need to give 120% for us to get noticed” Ebony Maxwell, Bluestone
Like most people, Maxwell’s path to professional success hasn’t been without sacrifice – such as delaying taking a promotion to focus on family – but she’s confident that it is possible for women to achieve some form of balance between the two. “I like to share my story to tell women that they can have both worlds. If they have the support network, they can have their career and be around for their children,” she says. As a mother, Maxwell has honed her organisational and multitasking skills, adeptly juggling multiple people’s schedules – abilities that also come in handy at the office. Being able to rely on her partner, family and friends is integral to getting her job done, Maxwell says, especially since it’s anything but a standard nine-to-five role. At the same time, having a flexible and understanding employer like Bluestone has allowed her to work her children’s specialist appointments around her job. Maxwell believes it’s important for employers to offer women that sort of flexibility and support, but men and women shouldn’t be treated like “chalk and cheese”. “I think it’s about empowering women and making sure that they can pursue their careers and they’re able to take that next step,” she says. Many people don’t know what’s going on in the personal lives of their colleagues and acquaintances. When Maxwell’s story about raising two children on the autism spectrum while working full-time was shared on LinkedIn, she received an outpouring of appreciation and support. “A lot of people look at you … and think that your life’s wonderful and hunky-dory, but little do they know that a lot goes on behind the scenes,” she says. A little bit of compassion, patience and understanding goes a long way.
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WOMEN IN BROKING
FINANCIAL EDUCATION
Why we need to talk about money Brokers are often the first people couples and families turn to when they need to talk about money. New Suncorp research shows talking more openly about this taboo topic can empower people to improve their wealth
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PEOPLE DON’T like talking about money – even to their partners. Suncorp research has revealed that, on the subject of money, Australians are tight-lipped. Only about half of people who earn $60,000 or less tell their spouses how much they earn. That increased to just over three quarters of those who earn $100,001–$150,000 a year. People would rather talk about religion, relationships and politics than the taboo subjects of salary, savings and spending habits, according to the national survey of 1,500 Australians. When respondents were asked why they steer clear of this subject, half said, “It’s just not something you talk to people about”. “Money is arguably a more emotive topic than religion or politics, as it’s so closely related to our perception of personal success,” says Suncorp behavioural economist Phil Slade, an expert on the psychology of spending. “Openly discussing our financial situation can allow others to see gaps between our presentational self and our ‘actual self ’, and that makes most people feel vulnerable,” Slade explains. “We have a tendency to view our income as an extension of our personal identity. Unfortunately, this can lead to anxiety if we fall short from our perception of success.” When deciding on a home loan or investing in a small business – two of the biggest financial commitments most consumers will ever make – it is imperative that both partners understand their financial situation and how their decisions will affect them. Often that job falls to brokers, who are frequently the first people many of us speak to openly about money. “In their role as trusted advisers, brokers have a responsibility to ensure both parties intimately understand their financial position and the implications of their financial decisions,” says Robynne Frost, Suncorp’s national small business and commercial manager. “As an industry we
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take that responsibility very seriously, both the importance of knowing the customer and creating good customer outcomes.” While research shows that women are becoming increasingly confident about making financial decisions for their households and handling day-to-day expenses and budgeting, some couples continue to lean on gender stereotypes that money management is a man’s domain. “It’s interesting that, from a financial perspective, gender stereotypes are very much alive and well,” Frost says. “There is change, but our data shows it’s moving slower than most expect. “At Suncorp, we’re committed to promoting financial literacy from an early age. This includes our partnership with the Financial Basics Foundation, giving high-school students the skills they need to make educated decisions around money.” Leaving it up to the man is something Canberra-based broker and financial planner Natasha Janssens, founder of Women with Cents, has encountered while talking to her clients. Often there will be one partner who is more dominant in discussing and making decisions for the pair. A few years ago a young couple came to see Janssens about upgrading to a new property,
HOW TO TALK ABOUT MONEY WITH YOUR PARTNER AND FAMILY Start with stories. Most families have legends of financial success or monetary disasters. These stories implicitly contain lessons, define what positive or negative financial decisions are for each family, and help make an otherwise contentious accounting conversation more relatable. Express yourself. When discussing finances, ensure that everyone can share how they are feeling. It sounds simple, but research shows identifying individual feelings reduces the emotional impact of a serious conversation and releases about 20% of brainpower that would otherwise be used to suppress emotions. Focus on growing better. Don’t try to solve everything in one conversation. Instead of debating past financial decisions, concentrate on one item (such as investments, savings, health insurance or superannuation) and focus on ways to move forward with positive action. This allows people to explore their options and feel less judged, and helps guide the conversation towards supporting each other in becoming more financially successful.
aware of and understood the implications of her husband’s decisions so they could go home and have a more meaningful conversation and make decisions they were both comfortable with. “What we need to be mindful of is that we’re giving both parties a voice in the conversation,” Janssens says. “A role for brokers is to help couples get on the same page at that crucial point in their
“Money is arguably a more emotive topic than religion or politics, as it’s so closely related to our perception of personal success” Phil Slade, Suncorp and it was clear the woman was relying on her husband to make plans for their future. “She was just assuming that he knew what he was doing, but he was starting to put them in a very risky situation,” Janssens says. She made sure that both were present for their conversations and that the woman was
relationship, because you run the risk, if one of them is more vocal and the other just sort of goes along with it, that one day they’ll say, ‘This isn’t what I wanted’.” It is important for not just brokers but also lenders to educate clients, which is where Suncorp stands out as a leader.
Suncorp conducted its research as part of its ‘Cost of Living’ series, to help couples and families start discussing household finances and get better at managing their money. The lender also recently launched an app that allows customers to manage their home, mobility, money and wellbeing needs from one central hub. “With more than two thirds of Australians feeling overwhelmed about making financial decisions, the Suncorp app is helping people take back control,” Frost says. “With built-in features like our Dollar Tracker and Suncorp Benefits program, the app is also a powerful tool for brokers to use with their customers to better promote financial literacy and wellbeing.” It might also help families build their wealth and plan for the future, especially when it comes to owning a home, having longterm investments and paying for aged care. “Money is closely linked to our emotions and our life decisions, so it’s important that we understand how our attitudes can underpin our behaviour and ultimately affect our financial wealth,” Slade says.
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WOMEN IN BROKING
GENDER EQUALITY
Women’s voices count – ANZ ANZ’s Doyenne, Women in Broking program is helping a group of brokers develop their skills, build confidence and become more media-savvy so they can showcase the changing face of the industry
SIMONE TILLEY recently came across a letter she wrote in her 20s asking her employer for a pay rise. She’d been working as a field officer in Gippsland for about a year at the time when she was asked to mentor a new employee, a young man of about her age, only to find that he was being paid 40% more. “I was very proud of my younger self. I wrote a very balanced letter explaining why I was worth the same pay he was. I got my pay rise, but it’s a reminder to everyone that this was only two decades ago,” says Tilley, who as general manager retail broker at ANZ is now the only female head of a major bank’s residential broker channel. “Whilst we’ve all made unquestionable progress, we’ve got more work to do. Diversity is about striking a balance, and at the end of the day it’s about creating diversity not just in gender but in thought.” While Tilley had the confidence then to approach her employer, identify the injustice and ask for what she deserved, not
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all women share that gumption, especially when they’re just starting out. Inspiring and encouraging women to find comfort and confidence in their own voices and opinions is one of Tilley’s aims
visibility in traditional and digital media. The sessions are being moderated and hosted by Amanda Gome, an experienced entrepreneur, publisher, business journalist and former head of strategic content and digital media at ANZ. Many ‘women in business’ programs focus on wellness and balance, whereas this is something different, Tilley says. It gives women brokers the skills and confidence to become more visible to the public eye. Most importantly, it reinforces that sharing their expertise and knowledge of the industry is not only welcomed and valued but worthwhile. “There’s a gap in women’s voices and opinions in the media, and therefore there’s an opportunity. It’s about making women more present and more visible,” she says. “Sometimes I see women step back and let others – often males – do the talking. It’s important for me as a senior leader in broking to provide a platform for other women to shine. That, I feel, is my obligation within this role – to really provide a genuine opportunity for others to have a voice.” If women are heard and respected in
“It’s important for me as a senior leader in broking to provide a platform for other women to shine” Simone Tilley, ANZ with ANZ’s Doyenne, Women in Broking program, which began at the end of August. The executive leadership program is made up of 20 female brokers, two from each of ANZ’s top aggregator partners, who were selected to participate based on their leadership skills, behaviour, experience and respect in the industry. Over the coming months, the women will attend two more sessions in Melbourne where they will learn how to express themselves in public forums to increase their
senior leadership circles, they’ll be seen as role models for other women, creating a ripple effect of change, Tilley says. There are 3,871 women brokers in the industry, a number that has been slowly increasing over the last couple of years. But the proportion of women in the overall broking population has remained stable at around 27%, according to the MFAA’s latest figures. Women are gradually becoming a larger part of the Australian workforce, but often in part-time roles since they still dominate in
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Sponsored by
SUPPORTING GENDER BALANCE ANZ has introduced a number of initiatives to support gender balance. These include: Recruitment approaches that tackle unconscious bias in hiring practices Parental leave payments and arrangements that encourage greater return-to-work rates, including a $4,000 return-to-work childcare allowance Flexible work policies that enable men and women to juggle parenting and other caring responsibilities. Since March 2015, all roles in Australia and NZ have been considered flexible for anyone for any reason
the area of home and childcare responsibilities. At the top, only 16.5% of CEOs or heads of business are women and only a quarter of board positions are held by women, according to the Australian government’s Workplace Gender Equality Agency. Women are not only dealing with ingrained institutional and societal biases but also have to contend with the walls they put up for themselves, such as self-doubt, fear, over-rumination and perfectionism. Women are quick to praise their peers while judging themselves more harshly, even if they’re just as capable, Tilley says. “Time and time again I see very capable and confident women saying, ‘Oh, I’m not sure that’s for me’, when an opportunity
comes up, because they’re worried that they’re not going to be perfect. Guys just don’t think that way; they’re groomed to be confident.”
often women want to have a perfect plan of execution ahead of them, whereas guys do have a tendency to wing it and work things out along the way.”
“There’s a gap in women’s voices and opinions in the media, and therefore there’s an opportunity” Simone Tilley, ANZ While self-reflection is important, overanalysis can be detrimental to one’s ability to take that next step. “At the end of the day, the advice I give women is, if a door opens, take it the first time and work it out after that. I think
Tilley says it’s important to balance both. “Women need more courage to back themselves. And as women supporting women, we just need to encourage each other to put the best foot forward and just go for it.”
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THE STAR SYDNEY, 19 OCTOBER 2018
AWARD SPONSORS
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EVENT PARTNER
The AMAs mark the grand finale of the year, showcasing the brokers, lenders and aggregators who have shone the brightest THIS PAST year has not been without its share of excitement, drama and suspense for the mortgage broking industry – and it all comes to a climax at the 17th annual Australian Mortgage Awards on 19 October at The Star Sydney. That’s when more than two dozen golden envelopes will be torn open to unveil the best in the business at one of the longest-standing and most prestigious events on the broking calendar. This year there are 31 trophies to be won across a range of categories, including the most coveted of all: Australian BDM, Young Gun, Brokerage and Broker of the Year. This year there is much to celebrate – it wasn’t easy after all. In the shadow of the APRA clampdown on investors and amid the scrutiny of the royal commission and the Productivity Commission, the finalists whose names you’ll find on the following pages deserve an enthusiastic round of applause for their commitment and dedication to their customers’ best interests during these challenging times. These individuals have gone above and beyond expectations and are truly role models for the rest of the industry. With more than 600 guests expected to attend the dinner and champagne evening, there’s no doubt this will be a night to remember. Guests will be serenaded by Linden Furnell, entertained by ABC TV Dirty Laundry Live comedian and event MC Lawrence Mooney, and get to show off their dance moves during Furnace and the Fundamentals’ dynamic post-show set. MPA is proud to recognise the many talented and successful professionals and organisations that have been named finalists this year. Along with our publisher, Key Media, we’d like to thank all of those who submitted nominations, as well as the many sponsors who make the AMAs a success every year. We look forward to toasting you in your suits and gowns on 19 October at The Star Sydney when the winners will be announced.
OFFICIAL PUBLICATIONS
A MESSAGE FROM OUR EVENT PARTNER Westpac is proud to partner with the 2018 Australian Mortgage Awards. Now in our 10th year supporting these awards, they are a great opportunity to celebrate the outstanding achievements of those in the mortgage broking business. It’s a dynamic time for our industry. We face immense change, new challenges and opportunities, technological disruption, continued regulatory change and changing customer behaviour – which is why coming together at events like these is paramount, as they give us all the opportunity to network, share best practice and celebrate excellence. Westpac is focused on building strong and deep relationships with broker partners and helping customers into their homes in a responsible way. We work hard to constantly innovate and improve our products and services to ensure they meet the diverse and changing needs of all our customers, and we’re delighted to be announced as a finalist in the Major Bank of the Year category. We wish all the finalists the very best of luck.
Warren Shaw Head of broker distribution, Westpac Group
ORGANISED BY
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AUSTRALIAN MORTGAGE AWARDS FINALISTS 2O18 MOST EFFECTIVE ONLINE PRESENCE - BROKER
MOST EFFECTIVE ONLINE PRESENCE – LENDER
MOST EFFECTIVE ONLINE PRESENCE - AGGREGATOR
The internet is an important medium for communication and day-to-day business transactions. This category recognises the brokerage business that has best harnessed this medium. Criteria include: business’s key objectives behind the website; website design and functionality; and features and quality of content that optimise customer engagement and lead generation.
The internet is an important medium for communication and day-to-day business transactions. This category recognises the lender that has best harnessed this medium to provide brokers with practical, effective and easily accessible facilities to help them with their businesses. Criteria include: business’s key objectives behind the website; website design and functionality; and features and quality of content, eg product information, pricing tools and broker resources.
The internet is an important medium for communication and day-to-day business transactions. This category recognises the aggregator that has best harnessed this medium to provide brokers with practical, effective and easily accessible facilities to help them with their businesses. Criteria include: business’s key objectives behind the website; website design and functionality; and features and quality of content, eg CRM navigation, product information.
FINALISTS • 1st Street • Black and White Finance • Empower Wealth Mortgage Advisory
FINALISTS
FINALISTS • Connective
• ANZ
• Finsure
• Feedback Finance
• Bankwest
• Liberty
• Shore Financial
• Heartland Seniors Finance
• Vow Financial
• VIP Mortgage Solutions
• MyState Bank
• Zippy Financial Group
• OnDeck • Pepper Money • St. George • Suncorp • Westpac
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EVENT PARTNER
BEST INDUSTRY ADVERTISING CAMPAIGN
BEST INDUSTRY SERVICE
BEST CUSTOMER SERVICE FROM AN INDIVIDUAL OFFICE
Industry services play an extremely important role in mortgage broking. This award recognises the service provider that adds the most value to its customers’ businesses. Eligible service providers include but are not limited to software and technology, legal, compliance, training and education. Criteria include: service provider’s value proposition; industry’s need for the service; how the service has added value; and the overall commitment of the organisation to its customers.
Customer service is an incredibly important measure of any broker/ brokerage’s long-term sustainability and success. This award recognises the brokerage office or branch that has displayed excellence over the past 12 months in maintaining consistent and sustainable customer service standards. Criteria include: product knowledge; product offering; client retention; customer service proposition; and the business’s value proposition and strategy around stakeholder engagement.
• La Trobe Financial
FINALISTS
FINALISTS
• Liberty
• CoreLogic
• Astute Ability Group
• NAB
• Finsure Broker Academy
• Australian Finance Hub
• Pepper Money
• Integrity Education Group
• Black and White Finance
• Suncorp
• Loanworks Technologies
• Citadel Capital Solutions
• Masters Broker Group
• Entourage Finance
• NextGen.Net
• Feedback Finance
• Simpology Pty Ltd
• Foster Ramsay Finance
• Trail Book Loans
• Smartmove Professional Mortgage Advisors
This award recognises the best below-the-line (B2B) advertising campaign conducted by an organisation marketing to mortgage brokers. The winner of this category will be the campaign that has had the greatest impact on the industry over the last 12 months.
FINALISTS • ANZ • Bluestone • CoreLogic
• TM Finance Group • VIP Mortgage Solutions • Yellow Brick Road – Maitland • Zippy Financial Group
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AUSTRALIAN MORTGAGE AWARDS FINALISTS 2O18 ONDECK AGGREGATOR OF THE YEAR (UP TO 500 BROKERS)
AGGREGATOR OF THE YEAR (OVER 500 BROKERS)
NON-BANK OF THE YEAR
• Connective
This award recognises the non-bank that has displayed excellence in the mortgage industry over the past 12 months. Fifty per cent weighting will be given to the results of the 2018 MPA Brokers on Non-Banks survey. Criteria include: business achievements, including service levels, turnaround times, product ranges, eg residential, commercial and pricing; year-over-year growth and market share; service innovations; overall support of and contribution to the third party distribution channel; and demonstration of a positive impact on the wider community.
• Astute Financial Management
• Finance & Systems Technology (FAST)
FINALISTS
• Liberty Network Services
• Finsure Finance and Insurance
• Advantedge Financial Services
• Outsource Financial
• Loan Market Group
• Heartland Seniors Finance
• PLAN Australia
• Homeloans Ltd
• Specialist Finance Group
• La Trobe Financial
• Vow Financial
• Liberty
Aggregators are the most important link between mortgage brokers and lenders. This award recognises the aggregator with up to 500 brokers that has displayed excellence over the past 12 months. This category is open to both aggregators and sub-aggregators. Criteria include: accuracy and timeliness in commission payment; quality of lending panel; IT and CRM support; broker communication; BDM support; compliance support; training and education; and lead generation.
FINALISTS
Aggregators are the most important link between mortgage brokers and lenders. This award recognises the aggregator with over 500 brokers that has displayed excellence over the past 12 months. Criteria include: accuracy and timeliness in commission payment; quality of lending panel; IT and CRM support; broker communication; BDM support; compliance support; training and education; and lead generation.
FINALISTS
• Mortgage Ezy • Newcastle Permanent Building Society AWARD SPONSOR
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• Pepper Money
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MSA NATIONAL NON-MAJOR BANK OF THE YEAR
MAJOR BANK OF THE YEAR
BANKWEST BEST AGGREGATOR BDM
This award recognises the non-major bank that has displayed excellence in the mortgage industry over the past 12 months. Fifty per cent weighting will be given to the results of the 2018 MPA Brokers on Banks survey. Criteria include: business achievements, including service levels, turnaround times, product ranges, eg residential, commercial and pricing; year-over-year growth and market share; service innovations; overall support of and contribution to the third party distribution channel; and demonstration of a positive impact on the wider community.
This award recognises the major bank that has displayed excellence in the mortgage industry over the past 12 months. Fifty per cent weighting will be given to the results of the 2018 MPA Brokers on Banks survey. Criteria include: business achievements, including service levels, turnaround times, product ranges, eg residential, commercial and pricing; year-over-year growth and market share; service innovations; overall support of and contribution to the third party distribution channel; and demonstration of a positive impact on the wider community.
This award recognises the aggregator BDM who has displayed excellence over the past 12 months. Criteria include: nominee’s accessibility and communication; demonstrated understanding of their brokers’ businesses; nominee’s product knowledge; and how the BDM adds value to the brand they represent and the broker channel.
FINALISTS
FINALISTS
• Daniel Kairouz, Vow Financial
• Bank of Queensland
• ANZ
• Mark Lewis, FAST Group
• Bankwest
• NAB
• Noushig Megerditchian, Finsure
• ING
• Westpac
• Tim Schneider, Choice Aggregation
FINALISTS • James Brett, Connective • Phillip Donaldson, Finsure • Nick Green, PLAN Australia
• Macquarie
• Suzi Trajanovski, Loan Market
• ME Bank
• Kiky Tse, Choice Aggregation
• MyState Bank • St George • Suncorp AWARD SPONSOR
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AUSTRALIAN MORTGAGE AWARDS FINALISTS 2O18 BEST MAJOR BANK BDM
BEST NON-MAJOR BANK BDM
This award recognises the major bank BDM who has displayed excellence over the past 12 months. Considerable weight will be placed on nominations that come directly from the broking community. Criteria include: nominee’s accessibility and communication; demonstrated understanding of their brokers’ businesses; nominee’s product knowledge; and how the BDM adds value to the brand they represent and the broker channel.
This award recognises the non-major bank BDM who has displayed excellence over the past 12 months. Considerable weight will be placed on nominations that come directly from the broking community. Criteria include: nominee’s accessibility and communication; demonstrated understanding of their brokers’ businesses; nominee’s product knowledge; and how the BDM adds value to the brand they represent and the broker channel.
FINALISTS
BEST NON-BANK BDM This award recognises the non-bank BDM who has displayed excellence over the past 12 months. Considerable weight will be placed on nominations that come directly from the broking community. Criteria include: nominee’s accessibility and communication; demonstrated understanding of their brokers’ businesses; nominee’s product knowledge; and how the BDM adds value to the brand they represent and the broker channel.
FINALISTS
• Donovan Blanch, ANZ
FINALISTS
• Craig Dunning, Westpac
• Andrew Downie, MyState Bank
• Pasquale Caia, Pepper Money
• Blake Hauber, Westpac
• Sally Hillman, St. George
• Andrew Crossley, Homeloans Ltd
• John Kakakios, ANZ
• Lauri Kroon, ME Bank
• Denya Dean, Bluestone
• Luke Patterson, ANZ
• John Loukadellis, Macquarie
• Richard Galvin, Advantedge
• Rosa Primerano , NAB
• Michael Ponchard, Bankwest
• Reece Hinchy, Bluestone
• James Shacallis, Commonwealth Bank
• Robert Tassone, ING
• Natalie Pavlovich, Pepper Money
• Cas Wright, Advantedge
• Rosa Portia, Virgin Money Australia
• Tamieka Trott, Westpac
• Nigel Anthony, Liberty
• Clinton Sharpe, Mortgage Ezy • David Wilson, Firstmac
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EVENT PARTNER
ALI GROUP BROKER OF THE YEAR - INSURANCE
MFAA YOUNG GUN OF THE YEAR – FRANCHISE
YOUNG GUN OF THE YEAR – INDEPENDENT
This award recognises the franchise broker who has displayed excellence in their first two years as a mortgage broker. To be eligible nominees must have been accredited as brokers on or after 1 April 2015. Criteria include: loan volumes; lead generation; quality of submissions; conversion rates; and overall customer service.
This award recognises the independent broker who has displayed excellence in their first two years as a mortgage broker. To be eligible nominees must have been accredited as brokers on or after 1 April 2015. Criteria include: loan volumes; lead generation; quality of submissions; conversion rates; and overall customer service.
FINALISTS
FINALISTS
• Bernard Desmond, Feedback Finance
• Belinda Caesar, Buyers Choice
This award recognises the broker who provides insurance (mortgage protection and life) as part of their overall offering and who has displayed excellence over the past 12 months. Criteria include: quality of submissions; conversion rates; lead generation; client retention; broker’s ability to demonstrate a positive attitude towards mortgage protection and life insurance; their role as an advocate within the industry; overall customer service; and loan volumes (to a lesser extent).
• Graeme Holm, Infinity Group Finance
FINALISTS
• Sandeep Jagtap, Finsource
• Darryl Bevan, Direct Financial
• Amanda Liszewski, Award Home Loans
• Leah Busby, ALI Group
• Craig Mowbray, Be There Financial Services
• Nicholas Kakalis, Finance Unlimited
• Michael Vasilaras, Clarity Finance
• Christian Stevens, Shore Financial
• Shareek Mohammed, Aussie
• Kapil Virmani, Smartline
• Peter Vassilis, Black and White Finance
• Norman Moon, ALI Group / Aussie
• Alex Veljancevski, Eventus Financial
• Sarah Thomson, Loan Market Geelong
• Jinkai (Ryan) Zhang, Option Finance Australia
AWARD SPONSOR
• Beau Duggan, Nectar Mortgages • Benjamin Hennessey, Aussie Home Loans • James Leotta, Aussie Balmain • Andrew Mudie, YBR • Mick O’Shea, Loan Market
AWARD SPONSOR
(MORTGAGE PROTECTION AND LIFE)
• Maxine Farmer, Maxon Finance
• Trevor Shand, ALI Group
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AUSTRALIAN MORTGAGE AWARDS FINALISTS 2O18 EQUITY ONE MORTGAGE FUND BROKER OF THE YEAR – PRODUCTIVITY
ANZ BROKER OF THE YEAR – COMMERCIAL
This award recognises the broker who has focused on productivity improvements through increased office efficiencies and quality submissions over the past 12 months. Criteria include: percentage of applications submitted and proceeding without questions or delays; year-over-year growth and percentage of applications approved for funding and handled without escalations.
This award recognises the broker who specialises in commercial real estate, investment finance, SME/debtor finance, and asset and leasing finance, and who has displayed excellence over the past 12 months. Criteria include: residentialto-commercial lending ratios; loan volumes; year-over-year growth; lead generation; client retention; quality of submissions; conversion rates; and overall customer service.
FINALISTS • • • • • • • • • • •
Balpreet Bal, Loan Market Welshpool Josh Bartlett, Loan Market Bayside Bernard Desmond, Feedback Finance Justin Doobov, Intelligent Finance Josh Egan, Astute Melbourne City South, Gippsland Josh Gilbert, Loan Market Jason Guo, Centum Mortgage Daniel O’Brien, PFS Financial Services KD Singh, Money Merchants Financial Services Zhen (Richie) Wang, Option Finance Australia Jinkai (Ryan) Zhang, Option Finance Australia
AWARD SPONSOR
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PEPPER MONEY BROKER OF THE YEAR – SPECIALIST LENDING This award recognises the broker who has displayed excellence over the past 12 months in specialist lending. Criteria include: quality of submissions; conversion rates; lead generation; client retention; overall customer service; and loan volumes (to a lesser extent).
FINALISTS • Aaron Greffenius, Loan Market Picton
FINALISTS
• Zhuliang Huang, Option Finance Australia
• Ryan Baddock, RB Finance Queensland
• Jason Miller, Loan Market Picton
• Faris Dedic, Red Door Financial Group • Frank Durso, Aus Finance Group • George Giovas, Axius Partners • Daniel Green, Green Finance Group
• Vincent Moore, Entourage Finance • Daniel O’Brien, PFS Financial Services • Stuart Styles, Arthurmac & Co • Margaret Wilcock, MW Mortgage and Wealth
• Chris Krotiris, Fundamental Business Finance • Xiaoyang (George) Sha, Balanz Pty Ltd • Bertie Stanley, Stanley Finance AWARD SPONSOR
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EVENT PARTNER
FBAA BROKER OF THE YEAR – INDEPENDENT
NEXTGEN.NET NEW BROKERAGE OF THE YEAR
This award recognises the broker in an independent operation who has displayed excellence over the past 12 months. Criteria include: loan volumes; year-over-year growth; lead generation; client retention; quality of submissions; conversion rates; and overall customer service.
• Cathy Brown, Activ8 Finance
This award recognises the best brokerage office or branch that has been in operation for less than two years. To be eligible a business must have started on or after 1 April 2015. Criteria include: loan volumes; year-over-year growth; lead generation; quality of submissions; conversion rates; customer service proposition; and the business’s value proposition and strategy around stakeholder engagement.
• Holly Bundy, Bundy Financial Services
FINALISTS
• Mark Davis, The Australian Lending & Investment Centre
• Atelier Wealth
• Justin Doobov, Intelligent Finance
• Australian Finance Hub
• Daniel O’Brien, PFS Financial Services
• Connected Finance
FINALISTS
• Simon Orbell, Smartmove • Gary Rock, Nectar Home Loans • Bertie Stanley, Stanley Finance • Will Unkles, 40 Forty Finance
• Aussie, Queanbeyan
• Entourage Finance • Feedback Finance • Infinity Group Finance • Insight Property Finance • Loan Market, Wyndham • Mortgage and Finance Expert
AWARD SPONSOR
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AUSTRALIAN MORTGAGE AWARDS FINALISTS 2O18 BLUESTONE BROKERAGE OF THE YEAR – DIVERSIFICATION This award recognises the brokerage that has implemented the most effective business diversification model. Criteria include: products and services offered; year-over-year growth; how the diversification offering has impacted on business growth over the past 12 months; customer service proposition; and the business’s value proposition and strategy around stakeholder engagement.
FINALISTS • Bell Partners Finance
• Loan Market Geelong
• DPN
• Shore Financial
• Finestream Capital
• TM Finance Group
• IFA Mortgages & Finance
• VIP Mortgage Solutions
AWARD SPONSOR
ANZ BROKERAGE OF THE YEAR (1–5 STAFF) This award recognises the brokerage operation with one to five staff (or full-time equivalents) that has displayed excellence over the past 12 months. Criteria include: loan volumes; year-over-year growth; lead generation; client retention; quality of submissions; conversion rates; customer service proposition; the business’s value proposition and strategy around stakeholder engagement; and broker training and development.
FINALISTS • Activ8 Finance
• Infinity Group Finance
• Astute Ability Group
• InReach Finance
• Aussie Coolum
• Loan Market, Bayside
• Bundy Financial Services
• Money Merchants Financial Services
• Educated Finance
• Zippy Financial Group
AWARD SPONSOR
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BROKERAGE OF THE YEAR (6–20 STAFF) This award recognises the brokerage operation with six to 20 staff (or full-time equivalents) that has displayed excellence over the past 12 months. Criteria include: loan volumes; year-over-year growth; lead generation; client retention; quality of submissions; conversion rates; customer service proposition; the business’s value proposition and strategy around stakeholder engagement; and broker training and development.
FINALISTS • Balanz Banking Solutions & Advice
• Loan Market New Farm
• Empower Wealth Mortgage Advisory
• Mortgage Choice Melbourne
• Entourage Finance
• Nectar Mortgages, Canberra
• The Financiers Group
• Option Finance Australia
ME BROKERAGE OF THE YEAR (>20 STAFF) This award recognises the brokerage operation with over 20 staff (or full-time equivalents) that has displayed excellence over the past 12 months. Criteria include: loan volumes; year-over-year growth; lead generation; client retention; quality of submissions; conversion rates; customer service proposition; the business’s value proposition and strategy around stakeholder engagement; and broker training and development.
FINALISTS • The Australian Lending & Investment Centre
• N1 Loans
• Home Loan Connexion
• Oxygen Home Loans
• Homeloan Experts
• Shore Financial
AWARD SPONSOR
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AUSTRALIAN MORTGAGE AWARDS FINALISTS 2O18 2017 WINNERS
Most Effective Internet Presence Lender – Pepper Money
ANZ Brokerage of the Year (1–5 Staff) – Loan Market Bayside
Australian BDM of the Year – John Kakakios, ANZ
NAB Australian Brokerage of the Year – 1st Street Financial
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La Trobe Financial Customer Service from an Individual Office – PFS Financial Services
ME Brokerage of the Year (More than 20 Staff) – The Australian Lending Investment Centre
Young Gun of the Year (Franchise) – Lee Wisniewski, Loan Market
MSA National Non-Major Bank of the Year – ING
Non-Bank BDM of the Year – Suzanne Hemsworth, La Trobe Financial
Westpac Australian Broker of the Year – Ian Robinson, Robinson Sewell Partners
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EVENT PARTNER
TO BE ANNOUNCED ON THE NIGHT…
WESTPAC AUSTRALIAN BROKER OF THE YEAR
LIBERTY AUSTRALIAN BROKERAGE OF THE YEAR
This award recognises the most outstanding mortgage broker in Australia and is one of the highest accolades offered to an individual in the mortgage industry. The finalists in this category comprise the winners of the broker categories: Broker of the Year – Commercial, Broker of the Year – Independent, Broker of the Year – Insurance (Mortgage Protection & Life), Broker of the Year – Productivity, and Broker of the Year – Specialist Lending.
This award recognises the most outstanding brokerage operation in Australia regardless of size and is one of the highest accolades offered to a brokerage in the mortgage industry. The finalists in this category comprise the winners of the brokerage categories: Brokerage of the Year (1–5 Staff), Brokerage of the Year (6–20 Staff), Brokerage of the Year (Over 20 Staff), Brokerage of the Year – Diversification, and New Brokerage of the Year.
AWARD SPONSOR
AWARD SPONSOR
AUSTRALIAN YOUNG GUN OF THE YEAR
AUSTRALIAN BDM OF THE YEAR
This award recognises the most outstanding broker in Australia with less than two years’ experience and is one of the highest accolades offered to an individual in the early stages of their career as a broker. The finalists in this category comprise the winners of the individual Young Gun categories: Young Gun of the Year – Franchise and Young Gun of the Year – Independent.
This award recognises the most outstanding BDM in Australia regardless of industry segment and is one of the highest accolades offered to a BDM in the mortgage industry. The finalists in this category comprise the winners of the individual BDM categories: Best Aggregator BDM, Best Major Bank BDM, Best Non-Bank BDM, and Best Non-Major Bank BDM.
www.mpamagazine.com.au
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AUSTRALIAN MORTGAGE AWARDS FINALISTS 2O18 EVENT PARTNER
Westpac is Australia’s first bank and first company, with more than 200 years’ experience helping customers achieve their financial goals through good times and bad. We’re into today and we don’t live in the past. Our vision at Westpac is to be the number one lender for overall broker service and value in Australia. We’re One Team that is helping you grow more opportunities so that you can strengthen your proposition to your clients. We are Westpac. One Bank, One Team. Contact your Westpac BDM 1300 130 467 www.westpac.com.au/brokers
AWARD SPONSORS
ALI Group is a leading provider of loan and mortgage protection to Australian home and property buyers via mortgage brokers. Since 2003 we’ve protected more than 163,000 Australians with almost $44bn in cover. Contact: ALI Group 1800 006 776 www.aligroup.com.au
At Bankwest, we’re dedicated to you – finding ways to make your job a little simpler and easier so you can get back to building your business. We’re working hard for you. Contact: Ian Rakhit, General Manager Third Party 0476 842 344 ian.rakhit@bankwest.com.au www.bankwest.com.au
At ANZ, we understand commitment. We see brokers as valued partners and firmly believe in helping you help your customers. With 20 years supporting the broker industry, we look forward to continuing to improve our overall service proposition to ensure we meet the changing needs of our brokers and customers – both in residential and commercial.
Bluestone is a fast-growing non-bank specialising in near prime residential lending. With offices in Australia, New Zealand and the Philippines, Bluestone employs a team of over 150 professionals. Our products cater for self-employed, credit-impaired, and debttroubled customers, providing tailored solutions for their financial needs.
Speak to your ANZ BDM today
Contact: Royden D’Vaz, Head of Sales and Marketing
1800 812 785 www.anz.com
0408 868 844 royden.dvaz@bluestone.com.au www.bluestone.com.au
OFFICIAL PUBLICATIONS
Mortgage Professional Australia is the leading business magazine for the mortgage and finance industry. Launched in 2001, MPA continues to be the key resource that mortgage and finance professionals turn to for in-depth news analysis, market trends, business data and intelligence. Contact: Otiena Ellwand, editor 02 8437 4792 otiena.ellwand@keymedia.com www.mpamagazine.com.au
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The mortgage broking industry reads it first in Australian Broker, the market’s only truly dedicated news magazine and website. Firmly established as the most reliable and independent news source for brokers, the ‘broker’s magazine of choice’ includes news, opinion, market analysis, leading broker profiles, sales and market insights, white papers, plus a unique focus on the industry.
Equity-One has established itself as a leader in commercial lending by providing fixed rate solutions with flexible repayment options. Equity-One offers a genuine alternative to business borrowers looking for traditional personalised service. Contact: Dean Koutsoumidis, Managing Director 03 9602 3477 deank@equity-one.com www.equity-one.com
Contact: Rebecca Pike, news editor 02 8437 4784 rebecca.pike@keymedia.com www.brokernews.com.au
The Finance Brokers Association of Australia Limited (FBAA) – the leading professional
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EVENT PARTNER
association for finance and mortgage brokers nationally – is proud to celebrate its 25th anniversary this year. The FBAA not only insists on the highest levels of professionalism, ethics and standards from its members but is the industry’s association of choice. The FBAA philosophically stands to ensure there is always an option of industry bodies within our sector, and that all brokers have a voice that is undeniably represented and heard. Contact: Leah Renwick, Business Development Manager 07 3041 0350/0401 929 176 leah@fbaa.com.au www.fbaa.com.au
Liberty provides a wide range of loans for your home, car and business, as well as your investments. Liberty can even help those with minimal financial documentation, a chequered credit history or gifted deposit. Our flexible product range includes competitive selfmanaged super fund (SMSF) loans and flexible commercial mortgage finance. Recognised with numerous industry awards and accolades, Liberty is an alternative that offers innovative solutions at competitive prices to support customers with greater choice and freedom. Contact: John Mohnacheff, Group Sales Director 0401 693 007 jmohnacheff@liberty.com.au www.liberty.com.au
Contact: Mathew Patterson, Head of Broker Sales 0432 004 954 mathew.patterson@mebank.com.au www.mebank.com.au
The Mortgage and Finance Association of Australia (MFAA) is the peak national industry body for professional finance brokers, lenders, aggregators and service providers. Established in 1982, the MFAA represents over 13,500 members and contributes to a healthy, competitive mortgage and finance industry through advocacy, education and businessbuilding support. Contact: Stephen Hale, Head of Marketing 02 8905 1316 stephen.hale@mfaa.com.au www.mfaa.com.au
Contact: Tony Carn, Sales Director 02 9929 5999 sales@nextgen.net www.nextgen.net
OnDeck, Australia’s specialist online lender to small business, uses data and technology to provide finance solutions, up to $150k, in as fast as one business day. Over the past decade OnDeck Group has loaned over $8bn to 80,000 small businesses across the United States, Canada and Australia. Contact: Oliver Wade, Head of Marketing
For over 27 years MSA National has been a champion for brokers. In 2016 it became a market leader with the launch of a suite of digital innovations that are transforming the customer experience and making the documentation and settlement process faster and simpler than ever before. Most of all MSA is known for its file ownership model which delivers legendary service from a team that has humility and genuine empathy for the customer. It is no coincidence that lenders who partner with MSA have happier customers and happier brokers. Contact: Anthony Aupek, Client Relationship Manager and Digital BDM
Australians deserve to get the most out of their money. We’re here to help you get more from your savings and pay less on your loans. Owned by industry super funds, our profits stay local, with the organisations that look after the retirement savings of everyday Australians. Make the most of ME.
solution provider to the lending industry, focused on delivering quality products and services to a range of banks, non-bank lenders and brokers. Our objective is to provide smarter solutions for now and what’s next, delivering best-in-class Software as a Service (SaaS) and leading the market in quality management and processing efficiencies.
02 8719 4062 anthony.aupek@msanational.com.au www.msanational.com.au
NextGen.Net is Australia’s leading technology
0406 152444 owade@ondeck.com.au www.ondeck.com.au
Pepper primarily focuses on providing home loans to customers who do not meet the acceptance criteria of banks and other lenders, in particular the self-employed, small business owners and borrowers with irregular income, an unsubstantiated savings history or a prior record of minor credit impairment. Pepper offers a genuine financing alternative to prime quality borrowers who are typically denied access to residential mortgage finance due to restrictive lending criteria. Contact: Sarah Pikardt, Channel Marketing Manager 1800 737 737 spikardt@pepper.com.au www.pepper.com.au
www.mpamagazine.com.au
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PEOPLE
CAREER PATH
BUILDING ALLIANCES Suncorp’s national manager for SME and commercial, Robynne Frost, built a prolific career in finance on the foundation of strong business relationships
Robynne Frost began her career in finance as a credit manager’s assistant at Custom Credit in Rockhampton. Since then, she says: “What has kept me in finance is the opportunity to continuously grow and learn new skills across a range of diverse roles in many different organisations.”
1984
STARTS IN CREDIT
1989
CREATES STRATEGIC ALLIANCES
2002
MOVES INTO MORTGAGES Changing tack, Frost joined GE as a product development leader before being promoted to national operations leader. She continued to climb the ranks with a move into the role of national manager for strategic alliances and marketing development. Her objective was to grow GE’s mortgage and branch business in Australia by partnering with external companies. “One of my job’s highlights was establishing a national alliance with H&R Block and GE Capital, supporting customers with both their tax preparation and financial needs.”
2015
SPECIALISES IN SME AND COMMERCIAL As national manager of SME and commercial at Suncorp, Frost has utilised her strong understanding and passion for SMEs to grow the sector to what it is today. “I wouldn’t want to be anywhere else right now; SME and commercial is an exciting place to be.”
“I was attracted to the strong people culture within Suncorp. I enjoyed managing the variety of relationships, and advocating for our community of 16,000 brokers” 62
At Suncorp, Frost honed her leadership and strategic skills. A passion for creative thinking led her to initiate strategic alliances between multiple well-known organisations. In an early role as state manager, intermediaries NSW, she grew a high-performing team from just three to 65 people. Frost was later appointed strategic alliances national manager after presenting some partnership ideas she’d had as part of an assignment for her master’s. “My passion and experience around strategic alliances has played an important part in my career.”
2012
RETURNS TO SUNCORP Following a stint at ANZ in commercial banking, Frost was drawn back to Suncorp by its strong focus on improving the financial wellbeing of its customers. She assumed the role of Suncorp’s national aggregation manager for intermediaries.
2018
LEADS STRATEGIC AGENDA SME lending via broker partnerships is a highly important and valued part of Suncorp’s overall strategy. With Frost leading the way, the bank is doing an enormous amount of work on improving its broker proposition, exploring the landscape brokers play in and educating them on SME opportunities and diversification.
www.mpamagazine.com.au
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PEOPLE
OTHER LIFE
TELL US WHAT YOU GET UP TO Email otiena.ellwand@keymedia.com
Wilcock has heard all sorts of comments about her triathlon training – some encouraging, some curious and some sceptical – but they don’t hold her back
2 1/2 years Waiting period for Wilcock’s hip surgery
Nov 2018 Wilcock’s next triathlon
2
Number of evenings per week Wilcock works
HITTING THE TRAILS How triathlon training makes Margaret Wilcock – 2018 finalist for AMA Broker of the Year, Specialist Lending – the ‘best me’ for clients FIVE YEARS ago, MW Mortgage and Wealth director Margaret Wilcock was sidelined from long-distance running because of a hip injury, but she still envisioned completing an off-road triathlon. Little did she know it would be a long time coming because of further injuries and health troubles. Wilcock will make that dream come true this November in the TreX Cross
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Triathlon, where she will compete in the swimming, mountain biking and trail running events. “I love being out in the bush and nature – it’s my happy place. I love the exhilaration of mountain biking,” Wilcock says. Wilcock’s outdoor pursuits help her relieve stress. She runs, does Pilates or other workouts in the mornings, and
rides her mountain bike after work. “It sets me up for the day. I feel awake and alert. I’m my best me for my clients.” Training for endurance sports requires a plan and a strategy; it’s something one needs to commit to, Wilcock says. “Sometimes training feels like you’re not getting anywhere, then one day it all comes together. … Running a business holds the same principle.”
www.mpamagazine.com.au
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