MPAMAGAZINE.COM.AU ISSUE 20.09
OPENING UP OPPORTUNITIES ING head of retail Melanie Evans explains why diversity and inclusion are vital to business AMA FINALISTS See who is in the running for mortgage broking’s top awards
INDUSTRY INFLUENCERS The women making waves in the push for gender diversity
DIVERSITY AND INCLUSION Hear from across the industry as it strives for diversity
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SEPTEMBER 2020
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 Editorial
Embracing diversity and inclusion
04 Statistics
Shifting perceptions of diversity support
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26 FEATURES
FINANCIAL ABUSE Westpac is educating brokers on the signs to look out for
06 News analysis
What female leaders can bring to the COVID-19 challenge
08 Opinion
Learnings from a new mum in broking
FEATURES 30 Women in broking
The major bank with a program for change
SPECIAL REPORT
32 Workplace diversity
Meet the women encouraging and supporting gender diversity in the broking industry
34 Improving the gender balance
The opportunities and ideas that diversity breeds
INDUSTRY INFLUENCERS
How to overcome the obstacles
BIG INTERVIEW
MELANIE EVANS
ING’s head of retail talks about the non-bank's continuing journey towards greater inclusion
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28
36 Women’s voices
DIVERSITY AND INNOVATION
58 Working from home
FEATURES
How a diverse workforce drives business success
The industry association leading the way
38 Finance for all
Liberty's inclusivity initiatives Structuring your day for success
60 Five steps to standing out
How to win the fight for visibility online
PEOPLE 62 Brokerage insight
Why the best customer relationships come from diversity
64 Other life
40 FEATURES
AMA FINALISTS
See which industry professionals are up for this year's prestigious awards
A young broker learns from her travels
MPAMAGAZINE.COM.AU NOW ONLINE: Our daily newsletter. Keep on top of property market trends, business strategy, and what industry leaders have to say.
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UPFRONT
EDITOR’S LETTER www.mpamagazine.com.au
A time to embrace diverse ideas
W
riting our diversity and inclusion issue this year seemed a little strange with all the other problems going on around us. Underlying my chats with people in the industry, there was a quiet worry: was it the right time to talk about diversity in a workplace that didn’t really exist in a physical form? But the more I dived into the issue of diversity and inclusion, the more I realised how important it is right now. In our News Analysis this month we report on research showing that businesses with women in management roles perform better; and other data and feedback from industry professionals we spoke to prove that a diverse and inclusive workforce encourages innovation and strong results. So, while Australia and the rest of the world are continuing to battle the coronavirus pandemic, yes, this is the time to look at diversity. Businesses won’t survive with one singular way of thinking; they need to bring diversity of thought and experiences to the table.
SEPTEMBER 2020 EDITORIAL
SALES & MARKETING
Editor Rebecca Pike
National Sales Manager Claire Tan
Journalist Tom Goodwin
Global Head of Communications Adrijana Monevska
Contributors Bernadette Christie-David, Amantha Imber, Nicola Moras
CORPORATE
Production Editor Roslyn Meredith
Chief Executive Officer Mike Shipley
ART & PRODUCTION
Chief Operating Officer George Walmsley
Designer Cess Rodriguez Traffic Coordinator Kristine Jamir
Managing Director Justin Kennedy Chief Information Officer Colin Chan Human Resources Manager Julia Bookallil
EDITORIAL ENQUIRIES
tel: +612 8437 4784 rebecca.pike@keymedia.com
SUBSCRIPTION ENQUIRIES
tel: +61 2 8311 5831 • fax: +61 2 8437 4753 subscriptions@keymedia.com.au
The more I dived into the issue of diversity and inclusion, the more I realised how important it is right now The figures for women in broking are no secret; the proportion of women in the industry has been hovering around the 27% mark for some time now. When you compare this to the gender split in the broader population, it doesn’t look good. There is more that can be done to bring women into broking and enable that diversity of thought and greater representation of consumers. This month we feature representatives of banks, non-banks, aggregators and more who provide different perspectives on the value of diversity, not just of gender but across cultures, generations and abilities. Expanding beyond gender – although it is a great and tangible place to start – made this issue particularly interesting for me to work on. I especially loved talking to our Industry Influencers and all the other industry professionals who described their own experiences and initiatives. Thanks to everyone who took part. I look forward to continuing this push to greater diversity with you.
ADVERTISING ENQUIRIES claire.tan@keymedia.com
Key Media Regional head office Level 10, 1–9 Chandos St, St Leonards, NSW 2065, Australia tel: +61 2 8437 4700 • fax: +61 2 9439 4599 www.keymedia.com Offices in Sydney, Auckland, Denver, London, Toronto, Manila, Singapore, Seoul
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
Rebecca Pike, 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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UPFRONT
STATISTICS
Looking for more support While many see the benefits of diversity, increasing numbers are unsure it’s getting enough support FIGURES FROM the MFAA Opportunities for Women survey, now in its third year, show how the push for gender diversity is reflected in the industry. Of almost 600 respondents from across the broking space, self-employed brokers made up the majority (58%), managers comprised 15% and business leaders 8%. While more females took part this year, 60% of respondents identified as male and just under 40% female. Going beyond gender, the survey showed that almost 90% of respondents had clients with culturally diverse backgrounds. Just under
25%
said diversity was important to reflect the industry’s customer base
49%
believe industry leaders consider diversity a priority
BARRIERS TO ENTRY The biggest barrier to women entering the industry, according to survey respondents, is unconscious beliefs about gender roles in the workplace, followed by an industry culture that is not inclusive of women.
15% said they did not employ culturally diverse brokers, and 51% did not employ brokers at all. Just over 47% said their client base was becoming more culturally diverse. When asked about the importance of diversity in the industry, almost 9% of respondents said it was not important to have a diversity of representation, experience, beliefs and perspectives, and 5% were unsure. Of those who believed diversity was important, the majority said it was because it made good business sense (43%) and was socially responsible (38%).
72%
would promote the industry to diverse ethnicities, ages, genders, etc
42%
believe women are underrepresented in the industry Source: MFAA Opportunities for Women 2020 survey
SUPPORT FOR PROMOTION UNCLEAR
Almost half of respondents are still unsure that enough is done to promote successful diverse role models, while the number of people saying more needs to be done has increased since the last MFAA survey.
No
SPLIT OVER FEMALE REPRESENTATION This year, fewer respondents said women were not under-represented, but the numbers simply shifted to those who were unsure. The proportion of those who believe women are under-represented remains the same.
Unsure
15.30% 35.34%
Yes
42.24%
Unsure Source: MFAA Opportunities for Women 2020 survey
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Yes
Do you think women are under-represented in the industry?
Do you think there is enough promotion of successful diverse role models in the industry?
49.35%
18.75%
No
39.01%
Source: MFAA Opportunities for Women 2020 survey
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WHAT DO YOU BELIEVE ARE THE BIGGEST BARRIERS TO WOMEN WORKING IN THIS INDUSTRY? Unconscious beliefs about gender roles in the workplace
28.45%
Conscious beliefs about gender roles in the workplace (eg women should not hold a position of management) 13.36% Safety concerns (eg sexual harassment, physical safety, etc.)
17.24%
An industry culture that is not inclusive of women
18.75%
Lack of industry experience and expertise
16.16%
Leaders lacking commitment and capability
7.33%
Industry is not interesting enough to women
6.90%
Lack of development and progression opportunities (minimal career progression)
13.79%
No barriers that I am aware of
41.16%
Total respondents: 464. Note: More than one answer could be selected. Source: MFAA Opportunities for Women 2020 survey
THUMBS UP FOR BENEFITS OF DIVERSITY
While 23% of people said support for diversity and inclusion would not have a positive impact on business, and 15% were unsure, the majority saw the benefits for both business opportunities and customer range. No – I can’t see any direct financial benefit
2.04%
No – Our industry is already diverse enough
Unsure – I am unsure whether providing greater support for diversity and inclusion will translate to any direct business benefit for the industry
There is greater uncertainty this year as to whether there are sufficient sponsors and peer support for women and diversity in the industry, with an increase in those who are unsure, and a drop in those who believe there is enough support.
No
14.29%
12.24% 42.18%
Yes – I believe that more support for diversity and inclusion in our industry is correlated to increasing business opportunities Yes – Publicly promoting our support for diversity and inclusion will positively position our industry to a more diverse range of customers
15.42%
GREATER DOUBT ABOUT PEER SUPPORT
20.86%
Do you believe greater support for diversity and inclusion in the industry will have a positive impact on a business’s bottom line ?
8.39%
39.00%
Yes
Do you believe there are sufficient sponsors and peer support for women and other diverse groups in the industry?
Unsure
45.58%
Unsure – I don’t understand the question Source: MFAA Opportunities for Women 2020 survey
Source: MFAA Opportunities for Women 2020 survey
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UPFRONT
NEWS ANALYSIS
Women as the drivers of success A new report says women in key decision-making roles will help businesses get through COVID-19, but the gender balance is still a long way off THE CORONAVIRUS PANDEMIC has hit businesses hard. As owners and leaders try to navigate the difficult economic environment, research suggests it could be time to look at the diversity of leadership teams. According to the Gender Equity Insights 2020: Delivering on Business Outcomes report, having a higher number of women on boards and in senior leadership positions drives better company performance, greater productivity and higher profitability. Released by the Bankwest Curtin Economics Centre (BCEC) and the Workplace Gender Equality Agency (WGEA), the research found that a 10 percentage point increase in the share of female top-tier managers led to a 6.6% increase in the market value of Australian ASX-listed companies. This was worth the equivalent of $104.7m. The report’s co-author and BCEC principal research fellow, associate professor Rebecca Cassells, said leadership had never been so important, especially now that the world was dealing with the fallout and economic recovery from the COVID-19 pandemic. “When businesses are looking to a post COVID-19 world, our research shows that having a female CEO has the potential to help companies navigate through the crisis,” said Cassells. Despite the importance of having female leaders, women only make up 17.1% of CEOs.
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Women are also least likely to chair a board, with only 14.1% of women being board chairs. Almost 30% of companies have no female representation on their boards at all, and a similar proportion of companies have no women in their key management teams. WGEA director Libby Lyons hailed the research as a significant contribution to the international business case for gender equality. “Workplace gender equality is not just about fairness; it also has a compelling commercial imperative,” she said. “This research provides hard evidence that
when women are more equally represented in the workforce, especially in management, improved outcomes and enhanced business performance could be directly attributed to diversity of thought and decision-making. “A team is only as good as its leader,” she says. “The culture of any organisation starts
“The culture of any organisation starts from the top and cascades through every layer. Having diverse leaders sets a clear and important example” Anja Pannek, PLAN Australia more women in top-tier management levels will deliver improved profitability for business. Now more than ever, achieving workplace gender equality is an absolute necessity for every organisation in Australia.”
Setting a ‘tone from the top’ Agreeing that the research demonstrates the benefits of diversity at the leadership level, PLAN Australia CEO Anja Pannek says that
from the top and cascades through every layer. Having diverse leaders sets a clear and important example – the ‘tone from the top’; it openly demonstrates that the company is fair and open-minded and values differences.” As Australia faces a second wave of COVID-19 with further hits to the economy, Pannek says we are “operating in uncharted waters”. Leaders need to make decisions to address challenges as they come and prepare
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SHARE OF WOMEN IN LEADERSHIP ROLES 55.4% Construction
27.4%
40.0% 30.0% Agriculture, forestry and fishing 35.9% Retail trade
15.4% 30.0%
22.5%
25.8%
35.0% 15.0% Public administration and safety
40.0%
32.2% 17.8% Accommodation and food services
33.9%
15.8% 10.0% 16.1%
29.7% 26.3% 32.2% Information, media and telecommunications 27.8% 34.7% Rental, hiring and real estate
11.9%
34.7%
14.8% 11.4% 44.4% Education and training
2.8%
29.4%
12.6% 27.7% 50.2% Financial and insurance services 9.6% 7.6% 31.9% Healthcare and social assistance
1.7%
9.5%
50.9%
0
100 None
Up to a quarter
Up to a half
More than a half
Source: Gender Equity Insights 2020: Delivering on Business Outcomes report
for those ahead – and a diverse team means greater diversity of thought and perspectives. “Uncertainty around so many elements of how businesses should operate and thrive and what the near-term future looks like has required all leaders to think outside the box,” Pannek says. “Unlike previous financial crises
Supporting the female customer base The Gender Equity Insights report shows that construction is the industry least likely to have women as key management personnel or as board members and chairs. Over 55% of these companies have zero female representation in management, compared to 12% of those in
“Females are a major customer segment yet remain severely under-represented in key decision-making positions, and that is a major risk” Jane Counsel, thrive4women many of us have worked in, we are having to deal with not only the economic impact but also the health and social impacts of COVID-19. These include remote working, home schooling and stress. “Empathy, resilience, pragmatism, benevolence, mutual aid and humility are often associated with female leaders, and these characteristics empower any leader to perform well in a crisis, and in particular in this one.”
financial and insurance services. Only 9% of financial and insurance services organisations have more women than men on leadership teams. Across all industries, 27.5% of companies have no females in key management roles, and just over 18% have leadership teams in which women outnumber men. Jane Counsel, diversity and inclusion consultant and co-founder of thrive4women, says that while financial services exhibits many
of the same traits as other male-dominated industries, it has made much more progress in addressing the barriers to female participation. “The very fact that we have seen a number of women appointed to very senior roles and in fact had a female, Gail Kelly, running Westpac, one of our top four banks, demonstrates that there has been significant investment in the development and progression of women,” Counsel says. She adds that the royal commission and subsequent challenges have been a distraction, but “it is time to put gender diversity very firmly back on the agenda”. “The reality is, females are a major customer segment yet remain severely under-represented in key decision-making positions, and that is a major risk to the ongoing growth and success of this industry,” Counsel says. “It needs to be embraced by everyone, but especially male leaders who have the ability to invest in initiatives and solutions that will drive change and who, through their behaviours and priorities, can influence and shape an overall industry culture that welcomes and embraces all differences, be it gender, age, culture, disability, sexual orientation, etc.”
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UPFRONT
OPINION
GOT AN OPINION THAT COUNTS? Email rebecca.pike@keymedia.com
Juggling broking and motherhood Bernadette Christie-David tells of her journey as a broker through motherhood, when expectations did not meet reality I STARTED my journey as a mortgage broker four years ago. At the time, I was newly married with no children and hungry to make my business succeed. Often this meant working long hours, starting at the office at 7am and finishing late in the evening. Given that my husband, Aaron, and I both worked in the business, it was easier to throw ourselves into it, and this rhythm continued for a couple of years. We then decided to rev up the madness by adding a baby to the mix. My pregnancy journey was laced with both anxiety and delusion. The anxiety I suffered was from knowing my life would never truly be my own again and I would be responsible for someone 24/7. (Yikes!) And my delusion and optimism meant I also thought I would have a baby and cruise into blissful maternity leave without having to look at a computer or talk to a client for at least three months. But was in I for a rude shock! At the time, we were under-resourced and our business was growing, so five weeks after my beautiful baby girl, Sienna, was born I was back working from home, juggling breastfeeding and nap time (which often meant Sienna slept in a sling attached to me) while I whispered my phone calls to clients and BDMs. It was certainly not the maternity break I had envisioned. I have often heard people say they chose to be a mortgage broker because they saw it as a “lifestyle business” in which they could work part-time. For me, this has not been the case. When someone purchases a property and you have five days to get finance approved, you have tight time frames for pushing the
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bank, while also keeping your client updated and calm. Being absent for a couple of days is not an option. In some ways I’m grateful. I realised I couldn’t have my second baby in the same environment. We needed to seriously prepare our business to be ready for me to step out again and enjoy at least the first three months of baby number two. We identified three key focus areas:
allowed me to reduce my working hours to part-time. The next P was all about profits. Despite my background in accounting, I knew nothing about cash flow management and planning for profits. After hiring the right people, I took a long, hard look at our profits and determined to change this immediately. The three steps I implemented were: (a) set up a 13-week cash flow planner and review this religiously every Monday morning; (b) review every line item in our financials and cut all unnecessary spend; and (c) allocate profit money each month. Taking these three small steps transformed our financials and profits. My final focus is passion. Moving to part-time work allowed me to enjoy my motherhood and mortgage broking journey. When I am at work I’m able to give my best, and now I can also do the same at home. Letting go of the guilt and feeling like a failure was a huge step for me. I’m able to enjoy some of my passions again, like going
We were under-resourced, and our business was growing, so five weeks after my beautiful baby girl, Sienna, was born, I was back working from home people, profits and passion. For me, the first P was always going to be about our people. As a high-achieving woman, I often feel like I’ve had to do everything and prove to everyone that I don’t need help. My ‘aha!’ moment came when I was working five-plus days a week, juggling two nannies and feeling like a failure as a new mum and business owner. I realised that I had to build up the people around me to help our business achieve its goals. Having previously used outsourcing support for our loan submissions, we decided to bring this back in-house. This has changed our business dramatically – our turnaround times are quicker, and we get more from our team in terms of what they are able to do. Recruiting, hiring, training and managing people takes time and effort, but it has
for walks, being in nature, cooking, and preparing for baby number two. With our new baby due in November and the current climate we find ourselves in, do I still expect to have that blissful, uninterrupted maternity leave? In all honesty, no. However, I am going into the next chapter of my life with eyes wide open and grateful that I’ve done the hard work to get our people, profits and passion sorted so at least it will be a little calmer than last time. Bernadette Christie-David co-owns Atelier Wealth with her husband, Aaron. A specialist in helping self-employed clients, Christie-David has been recognised as a finalist for the Empowerment Award at Connective’s Excellence Awards and sits on the MFAA’s Young Professionals Panel.
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PEOPLE
BIG INTERVIEW
MELANIE EVANS: LIFE IN DIVERSITY From a young age, ING’s head of retail bank has been aware of the need to embrace a diversity of views and strengths. She talks to MPA about the non-major’s continuing journey towards greater inclusion
ING’S HEAD of retail bank, Melanie Evans, grew up in a house where everyone was welcome around the dinner table, no matter who they were. Having lived with such an open-minded family, and seen her parents juggle their careers and responsibilities together, she owes much of who she is now to her early experiences. Her parents taught her about hard work, and having an older brother taught her about resilience and persistence. “Chasing the coat-tails of an older sibling certainly toughened me up. There were many things I couldn’t do, but boy, did I learn to try!” she says. There was always a newspaper on the table, and rather than talking about homework or trivial topics, there were often discussions and debates on what was going on around the world. As she moved through her career, Evans found that the best leaders were those who understood these wider perspectives – the perspectives of the customer, community and team members. “I think about that a lot, so I consume a lot of content, try to connect with people not like
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me, ask a lot of questions when I meet people,” she says. Evans also played a lot of competitive sport from a young age, which she says taught her how to learn, practise, prepare and be disciplined. In team sports, too, she learnt it was important to appreciate those around you who may have the skills you don’t.
or respected because of their differences. “I have benefited from living a life surrounded by people so very different to me,” she says. “Those who have no interest in opening up opportunities to others who are different to them are either ignorant of the broader world in which we live or are acting in their self-
“Sometimes we can overcomplicate diversity and inclusion, but what you’re aiming for is quite simple” Throughout her 25 years in the finance industry, including a cadetship in banking, Evans says she has also benefited from observing leaders tackle significant challenges.
A passion for diversity and inclusion Growing up aware of these other perspectives, Evans understands how important diversity and inclusion are. She says she gets frustrated knowing that there are people who do not feel like they belong, or who are not cared for
interest. It might be unconscious, but it doesn’t make it OK.” Evans has also seen first-hand the benefits of diversity and inclusion, having worked with progressive and modern leaders who afforded her opportunities that others may not have. For example, during her career she has experienced community and professional programs that were designed specifically to support diversity; these not only helped her develop but opened her eyes to the
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PROFILE Name: Melanie Evans Company: ING Title: Head of retail bank Years in the industry: 25 Career highlight: “Being given the career advice to chase experiences, not job titles and status quo”
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ts to ments
PEOPLE
BIG INTERVIEW
challenges and issues she was not aware of. Diversity remains an incredibly important issue today, and Evans says businesses need to be aware of the positive impact it has. “We are a very successful melting pot as a nation, and while the employee base of financial services doesn’t reflect that in 2020, the best customer-focused firms spend a lot of time understanding the very diverse segments of Australia – and what opportunity that can bring your business,” she says. ING focuses on diversity along two fronts: with its customers and its own workforce. It has formed a Diversity and Inclusion Council, of which Evans is chair. She attends sessions and takes part in as many activities as she can, ensuring that the bank’s executive committee is always aware of the areas that need to be focused on. This makes sure the themes come from the ground up, not the top down. Setting up a council is not all ING has done. The non-major established a Rainbow Lions network so LGBTQI+ employees could feel included, respected and valued. Its Lioness network also champions female empowerment and aims to build a genderequal society. Evans explains that around 30% of this network’s members are men who want to contribute to gender equality. The group runs mentoring programs, events, leadership sessions and provides other development opportunities. Thanks to a shift in the terminology that ING uses around primary and secondary caregivers, any parent in the organisation can take 14 weeks’ parental leave. “In the last 12 months we have seen a fourfold increase in male team members taking more than two weeks’ leave to share the care and enjoy family life,” Evans says.
Better equipping businesses For brokers who want their teams to succeed, diversity and inclusion is vital. Evans says that in a competitive environment like broking, every single member of the team
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TIPS FOR LEADERS SEEKING DIVERSITY Be OK with challenge and conflict: “If you don’t see either of these things when you are discussing critical customer and business issues, you might not have the diversity you think you do,” says ING’s head of retail bank Melanie Evans. Tackle diversity just like you would a business problem: “Be clear on what the issue is, what the root causes are, and put an action plan in place. Be patient, but lead on it.” Walk your talk: “Make sure your actions align with your words. Get involved and be an active ally of any employee networks or community networks that you want to better support.” Get help and call on the experts: “There are many fantastic organisations and resources designed to help leaders with different challenges. Call on them. In the last while, I’ve relied on experts and resources from Chief Executive Women, Parents at Work, the Diversity Council of Australia and Pride in Diversity.”
“I consume a lot of content, try to connect with people not like me, ask a lot of questions when I meet people” needs to deliver an exceptional experience to customers and workmates, and that only comes from a workplace people enjoy and feel they belong in. “A diverse and inclusive workplace is one where employees feel comfortable enough to be themselves,” she says. “Sometimes we can overcomplicate diversity and inclusion, but what you’re aiming for is quite simple. “It also brings diversity of thought and means that as a business you’re better equipped to relate to your customers.” To work towards greater diversity in their businesses, Evans says leaders need to be aware of the different perspectives and identities people have. “Challenge your own assumptions,” she says. Something ING does is encourage staff to talk about what they do outside of work
so their team can better understand the experiences and perspectives they can bring to the table. Evans also warns that leaders need to be OK with conflict, saying diversity is not just about visible things but about “know-how, life experience and different ways of tackling a problem”. She adds that this awareness of how wide the diversity piece can be is growing, and while it is a good thing, there is still a way to go. “I am not a believer in explaining away lack of diversity to legacy and industry structure,” she says. “If you spend all your time focusing on that, you don’t have your eye on what is ahead of you. “It’s really important to emphasise that we can too easily let perfect get in the way of progress. Progress is good for customers, good for team members and good for business.”
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SPECIAL REPORT
INDUSTRYINFLUENCERS INFLUENCERS INDUSTRY
EMPOWERING WOMEN FOR SUCCESS
MPA’s 2020 Industry Influencers report showcases the women who are part of the drive to encourage and empower their female colleagues in the mortgage broking industry
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RATHER THAN simply talk about why gender diversity is important in the broking industry, this Industry Influencers feature shows how women are continuing to encourage, support and empower other women working in financial services. We profile women from all over the industry – banks, broking firms, aggregators and an industry association – who are involved in the push for greater gender diversity. Some have set up programs and initiatives to support women, and others are leaders embracing the need for diversity in their businesses – but they are all playing a part. Those women who have worked in the industry for some time have seen how it has already changed. This feature is not meant to be a condemnation of the industry as it stands; it merely shines a spotlight on the work being done to make it more inclusive.
The figures speak for themselves. Females make up around 27% of the broking industry, and this number has remained around the same for some time. To reflect the Australian population, the proportion of women in broking could be much higher. The women profiled here explain the benefits of having a more balanced industry; for instance, there is evidence of greater business success. There are ways to foster diversity beyond quotas and targets for employing women over men. Again, these Industry Influencers provide insights into how best to attract and retain females in the broking industry. The biggest theme of our discussions with these women is the importance of mentorship and role models. Some talked about how they entered the industry not knowing where to look for advice or inspiration, whereas others
praised the female mentors they have had. Everyone’s experience is different. As a side note, every gender plays an important part in ensuring a diverse and inclusive workforce. Male leaders and colleagues are crucial, and many of the successful women featured here praised the men who supported them and provided opportunities throughout their careers. Shining a light on these women will hopefully demonstrate to those new to the industry that there are incredible women in the business who they can look up to and emulate. They can also be encouraged by the new programs that have been established to provide tools, support, education, and, importantly, networking opportunities for women in the industry. Thank you to everyone who took the time to be involved in this report.
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Despite the pressures of coping with competing demands, she says women have established themselves as true professionals and leaders in mortgage broking, proving their ability to excel in a highly competitive and dynamic environment. “Twenty years ago, the mortgage broking industry was very ‘blokey’ – lots of golf, rugby and cricket days!” she says.
“A team that is diverse in gender, culture and age better reflects the market and our customers”
KATHY CUMMINGS BANK OF QUEENSLAND
SUPPORTING WOMEN is “intuitive” for Bank of Queensland’s general manager, broker, Kathy Cummings, and this is evidenced by the number of women who have mentioned her work and support when talking about their own experiences of being females in mortgage broking. After more than 20 years in the industry, Cummings joined BOQ in December 2019 and is already committed to supporting gender diversity at the bank. BOQ has recently appointed three experienced and highly regarded women as relationship managers to work with its broker partners along Australia’s eastern seaboard.
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Cummings’ years of experience in the industry mean she knows what she is talking about. Having built her own teams, she has found that the depth of experience that comes from a diversified team is invaluable. “A team that is diverse in gender, culture and age better reflects the market and our customers,” she says. Cummings acknowledges that women often feel the pressure to juggle both family and business demands – something that is not unique to the finance industry. The bank also has a number of recruitment, talent, parental leave and flexible working policies to help strengthen gender equality.
“However, this has really evolved thanks to a large number of extremely successful female brokers, many of whom are leaders in their various aggregation businesses. Women tend to have natural empathy, which assists us in understanding and translating a customer’s financial needs into reality.” Customer relationships are vital in an industry like mortgage broking. Success for the bank depends on a person’s ability to establish and maintain connections with both brokers and aggregators, Cummings says. This is where diversity plays a crucial role. “A diverse team will have improved capacity to understand, evaluate and empathise with our broker clients and their needs,” she says. “In addition, greater cultural diversity within our industry better reflects the increasingly multicultural nature of our markets, particularly in our major cities where cultural understanding is critical to attracting quality business.” As the industry continues to move forward in working towards greater gender diversity, Cummings says it is important to “keep the mentoring going”. An avid believer in communication and support, throughout the COVID-19 restrictions she has been holding events like virtual lunches and remaining in contact with her brokers.
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INDUSTRY INFLUENCERS HAVING EXPERIENCED the challenges first-hand of joining a “man’s world” as a female, CGIO Finance broker Cara Giovinazzo decided to do something about it. She launched a mentoring program for young women who were eager to enter the financial services sector, saying it was almost like payback for the program she took part in when she first started out at Commonwealth Bank. The Brisbane-based broker says doing a Cert 4 in Finance and Mortgage Broking does little to help brokers get “job ready”; by taking on one female a year she hopes to give more women the confidence to get into the industry. “As a younger woman, it can be harder to be taken seriously. It is something that I feel gives me a handicap from the start, and I have constantly worked hard to prove my worth,” she says. “As women, we want to be judged on our ability, professionalism and work ethic – not based on our gender. I have had many people underestimate me and my business abilities,
“We want to be judged on our ability ... not based on our gender” to only admit later how wrong they were about me from the start. “By offering the mentorship, I can help guide the mentee along the way, teach them best practices and help them grow into successful representations of what women can achieve in the finance industry.” Giovinazzo says that while there has been a strong shift towards greater diversity, there needs to be far more encouragement of women to join the industry. “It’s not about a woman getting a job just because an organisation or industry wants to be perceived as diverse; it’s about what we can do as an industry to set women up for success,” she says. “How can we encourage more women into the industry, and how can we help them grow?”
WHEN STONETURN broker Alycia Inglis
ALYCIA INGLIS STONETURN
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started out in broking, she looked around for successful female brokers she could be inspired by, but they weren’t easy to find. Then, when she became a new mum, she had no guidance on how to juggle motherhood with growing her business and supporting clients. “I didn’t have anyone I could go to for advice – it was stressful,” she says. “I’d spent so many years working hard to build my business, and I was worried that I would lose clients and my business by not being available or responsive 24/7.” Instead, when she looked around, she saw male brokers being profiled and industry events tailored towards men. “As a new broker, I wanted more evident female leadership, women to look up to and aspire to. I now know there are many successful women in broking – they just weren’t as public or visible when I started,” she says. Deciding to do something about it, Inglis recently set up an online group connecting
CARA GIOVINAZZO CGIO FINANCE
females in the industry, whether they are brokers, analysts or loan writers, which they can come to for support and conversation. ‘Women in Mortgage Broking – Make it Happen’ is designed as a space where women can feel comfortable about asking questions on topics like advancing their careers, how to manage working from home, outsourcing specific jobs to make their lives easier, and how to establish best practice processes for their businesses. “This group will highlight women in finance who are doing great things with their careers. We will celebrate their wins, and we take the hands of those rising in the industry and fill them with the confidence they need to be successful,” Inglis says. She believes it’s important that the number of female brokers grows. “In general, more female business owners means more female decision-making,” she explains. “As the purchasing power of women increases we must respond to this with female brokers who can understand their clients.”
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Benefit from a range of support.
Sometimes the best way to tackle a problem is to get a fresh option. That’s why the FAST network offers a deep pool of experienced members you can tap into for ideas, advice and support. fastgroup.com.au
Strength through diversity
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break down barriers to differences which are often reinforced by engrained unconscious biases,” she says. There is also the business perspective. Counsel says diversity and inclusion is critical to ensuring we can future-proof the success and growth of Australian businesses. “All the research shows us that creating an environment where different individuals feel
“This is all about getting male leaders in the industry to recognise that they are part of the solution”
JANE COUNSEL THRIVE4WOMEN
“FOR ME, diversity and inclusion is all about celebrating and embracing difference and enabling individuals to thrive whatever their background, experiences and perspectives,” says Jane Counsel. As executive coach, diversity and inclusion consultant and co-founder of the new thrive4women program, she has worked closely with the MFAA on its Opportunities for Women initiative over the last few years, helping to identify strategies to attract and retain women in the industry. Counsel established thrive4women with business coach Michael Trencher. It provides business coaching and professional support
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and development services for women working as mortgage and finance brokers and other industry professionals. It offers virtual workshops and one-on-one coaching to target the specific challenges faced by these women, and an alumni group provides ongoing opportunities after the six-month program has finished. But why is this so important to Counsel? There are two reasons, she says, the first being the human capital benefits of promoting fairness and equity for everyone. “I have a genuine willingness to help all individuals thrive by equipping them with the skills and techniques to be their authentic selves at work, and also to help organisations
included and valued sows the seeds for innovation, collaboration and growth,” she says. Financial services can appeal to women because of its flexible working opportunities and the chance it offers to earn a good salary, Counsel says, but while there is good practice around gender diversity, progress to increase women’s overall representation remains slow. “My overall observation is that there is no point setting targets to increase women’s participation in this industry if we don’t also invest in changing some of the cultural barriers which are often unconscious or invisible to the very people who can make the biggest difference to progress,” she says. “This is all about getting male leaders in the industry to recognise that they are part of the solution and to reflect on the role they need to play to break down the barriers that can sometimes make the industry non-inclusive of difference. “That includes ensuring we recognise and reward a diversity of people as successful role models, refusing to walk past bad behaviour that impacts women, being open to different perspectives and opinions, trying more innovative ways to attract women to this industry, and finally, being open to continuously challenging our own views and perspectives.”
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INDUSTRY INFLUENCERS HOPING TO lead by example, top-performing Citi BDM Angela Pedron believes that women can thrive in the finance world. When she started out in the industry in the early 2000s, she says it wasn’t immediately obvious that it was male-dominated, but at senior management levels the gender disparity really kicked in. Looking back at the time she once spent in Hong Kong, where there seemed to be a focus on diversity, Pedron says there was no diversity in the way people worked there, in terms of being flexible. She believes this is what can help the diversity piece moving forward. While Citi sets the targets Pedron works to, she can decide how she reaches them. She spends an hour each morning at the gym, an hour with her children, and then the rest of the day either working from home or on the road. “I returned to Australia from Hong Kong in 2017, after a break from being a BDM,” she explains. “I thought it would be tough as a single mum of two girls to re-enter the industry and have a successful career, but I gave it my all,
KATRINA PARRINGTON ELDERS HOME LOANS
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“The smallest idea or feedback can turn into the greatest plan to succeed” and now I have a great job in a global firm that gives me flexibility and balance. I want other female brokers joining the industry to know this is achievable too.” Compared to 20 years ago, she says there’s now a much deeper talent pool in the industry, with higher numbers of qualified and educated female brokers and BDMs. But she encourages people to keep sharing their feedback and ideas because “the more diverse the voices at the table are, the better those ideas will be”. “At every single level, we can all be influential in making change happen. I want to encourage all levels to speak up and be heard. The smallest idea or feedback can turn into the greatest plan to succeed,” she says.
“WE ARE all diverse; some of us are just more aware of it than others.” As an openly gay female broker in the Northern Territory, Katrina Parrington has dealt with diversity her whole life. While the Elders Home Loans broker admits it was difficult at first, she says she listened, learned and used her life experience to prevail. Being a woman has never inhibited her success; in fact it has probably helped. She started out in home loan lending at ANZ in 2003, then worked as a commercial lender at both ANZ and Commonwealth Bank. Parrington says it was not common for women to work in these roles, particularly in commercial lending, so this valuable experience means it was easy for her to perform well in broking. Since 2009, Parrington has built Elders Home Loans from a small business in Alice Springs to one that is now expanding into the wider NT area. She believes it is important to have a combination of both male and female brokers
ANGELA PEDRON CITI
to support customers with their finance needs. “Clients need to be comfortable with the broker they entrust their financial goals to. Diversity, I believe, provides a spectrum of brokers who are able to assist clients with empathy and understanding and to build trust,” Parrington says. “Women see life a little differently. We talk more and listen longer. We’re mums, wives and mostly business owners as well as brokers, and I think we bring a more compassionate nature to the transaction, which clients relate to.” Being in the NT, many of Parrington’s clients come from a range of racial and ethnic backgrounds. As much as they want to learn about financial services, she loves to learn about them. Passionate about encouraging others, she sponsors women’s sporting groups, gay pride events and women in racing, and participates in other women’s events. It’s not just about diversity, though; it’s about community, and she has also sponsored sports like soccer and drag racing.
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Helping the industry embrace greater diversity and inclusion Working together with brokers, aggregators, lenders and service providers, the MFAA’s Opportunities for Women program has been developed to promote greater industry inclusion for women.
Download the reports: mfaa.com.au/opportunitiesforwomen
The Opportunities for Women reports offer insights into the industry and proposed recommendations to assist the broker community to embrace greater diversity and inclusion.
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intrinsically together to breed a vast scope of thoughts and ideas, in turn providing opportunities that will pioneer change for the industry. “Everyone’s mind thinks differently; we need to harness this asset,” she says.
“This collective pool of knowledge in diverse teams tends to create a snowball effect as ideas grow, are enhanced and then optimised”
TANYA SALE OUTSOURCE FINANCIAL
WHILE THERE have been hurdles along the way in her career, CEO of outsource financial Tanya Sale chooses to reflect on these with the view that “challenges are just opportunities disguised as obstacles”. “If you don’t encounter challenges, there is no opportunity to grow, and it has been through these encounters and roadblocks that the growth of outsource financial really speaks for itself,” she explains. Over her years in the industry, Sale has seen shifts in three key areas, which have been paramount in moving towards positive change. She has seen more female leaders being appointed in the lender space; greater
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acknowledgement of women at various national industry awards; and the industry moving away from the ‘boy’s club’ mentality that was once prominent in financial services. Even in the past two years there has been a shift. “The adversity that has been forced upon our industry really united us as a collective,” Sale says. “Working so closely and collaboratively as an entity strengthened our resolve, and as a result, we are much less tolerant of injustices, irrespective of what form they take.” As a leader, Sale understands the importance of both diversity and inclusion. She says they are two separate entities that work
Sale points out that greater diversity means having access to a broader spectrum of experiences and viewpoints. “This collective pool of knowledge in diverse teams tends to create a snowball effect as ideas grow, are enhanced and then optimised. There have been numerous studies proving that diverse teams are more creative, innovative and efficient problem-solvers,” she says. In quelling a lack of diversity in any industry, Sale believes it is important to stop asking what the challenges or pressures are for women. It is essential to promote equality between females and males across all industries. If we continue to focus on the challenges women face and overcome, it will perpetuate the mentality of inequality, rather than being a catalyst for change, she says. As the industry moves forward and becomes more inclusive, Sale says it needs to continue to establish a sense of belonging and empowerment within the workplace. “To achieve this, we need to be creating environments that allow each individual to confidently bring their best self forward,” she says. “Accountability is key – this must be embraced, adhered to by all and called out if it is not being put into practice.”
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greater awareness of gender bias and subsequently a drive to change this. “At Mortgage Choice, we are doing our part to help drive equality in broking, with initiatives that celebrate the female talent that exists within our network and provide more opportunities to nurture and develop female brokers and business owners.” Recognising the importance of diversity bringing in new perspectives, she says having a diverse leadership team at Mortgage Choice
“Leaders play a key role in fostering an inclusive workplace ... We need to be cognisant of the shadow we cast”
SUSAN MITCHELL MORTGAGE CHOICE
AS THE push for greater gender diversity resonated in the mortgage broking industry, Mortgage Choice CEO Susan Mitchell says she began thinking about what she could do to drive more female inclusion. She started by looking at the gender make-up of the Mortgage Choice network across various roles – from franchise owners to loan writers and admin assistants – and identifying opportunities. She found that there were fewer female franchise owners, but the ones there were had achieved outstanding results. There was also a strong pipeline of aspiring female talent across the network who could be nurtured into potential business owners.
This led to the birth of the ASPIRE program, an initiative to celebrate female talent within the Mortgage Choice network and an opportunity to share experiences and best practice to nurture up-and-coming women in the business. The broker group also recently engaged a diversity and inclusion expert to lead a workshop on unconscious bias for all leaders and staff, which Mitchell says was fantastic and allowed for thought-provoking discussion. “In recent years we have seen a real shift in financial services and in the broking industry when it comes to gender equality,” says Mitchell, noting that there has been much
allows for better decision-making and richer discussions. Leadership is important when it comes to the push for an inclusive culture, which Mitchell says has to start with management and cascade down to all levels. “Leaders play a key role in fostering an inclusive workplace culture that creates a sense of belonging amongst staff. We need to be cognisant of the shadow we cast and the tone it sets for the company’s culture,” she says. Mitchell adds that a diverse franchise network provides a better experience for customers. “There is a wealth of scholarly material and research that shows that diversity drives creativity, innovation and productivity,” she says. “In my experience, a diverse team with a spread of different commercial backgrounds and a spread of personal backgrounds and personality types delivers a better consideration of opportunities and risks. This will always lead to better decisions. The one thing that needs to be consistent is an openness of mind to accept change and feedback.”
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FEATURES
FINANCIAL ABUSE
Supporting vulnerable customers Ensuring that financial services are inclusive for all is front of mind at Westpac, which is why the bank is focusing its efforts on providing brokers with the resources to identify customers suffering financial abuse AS COVID-19 continues to drive us indoors and away from society as we once knew it, many people are being put into more vulnerable situations than ever before. According to NSW Victims Services, the number of people formally seeking urgent assistance due to family or domestic violence increased by 10% in May 2020. Google searches on domestic violence also increased 75% year-on-year. Concerned about the risk of growing financial abuse, Westpac is helping brokers and staff look for the signs. “With many Australians’ homes or work situations changing in the past eight months due to the bushfires, floods and now COVID-19, it’s only natural that levels of stress and anxiety rise,” says Belinda Wright, Westpac executive manager broker partnerships. “Unfortunately, it’s not uncommon that individuals turn to their family when releasing their stress, which may come in the form of emotional, physical or financial abuse.” Financial abuse can occur when someone
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misuses money, financial resources, property or assets without the owner’s knowledge or consent or by influencing them to do so. It can include, but is not limited to, someone taking complete control of another person’s finances, stopping them from working, making them take out loans or credit from which they
finance industry are switching to virtual meetings, she says they should still be able to look out for signs like a distressed tone of voice, certain body language or other behaviours. “There are things we can all look out for in customer conversations. For example, sometimes a person does not realise they are
“Sometimes a person does not realise they are being financially abused, so recognising the signs is extremely important” Belinda Wright, Westpac will not benefit, restricting access to bank accounts, or siphoning income. Anyone can experience financial abuse, whatever their age, gender, ethnicity, education or social status, and often the person does not realise they are a victim. Wright says this makes it more important to be aware of the signs. Even though brokers and the rest of the
being financially abused, so recognising the signs is extremely important,” Wright says. “This may include witnessing an attempt to fraudulently use a partner’s identity, reluctance to involve the other co-borrower, or finding out a client is unsure why they are not receiving mail or emails regarding their home loan.” Westpac has produced a training module
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on vulnerable customers to help brokers learn the signs of financial abuse and the steps they can take to help in that moment. The bank’s Davidson Institute also recently relaunched a website with content to educate brokers. This covers terms like LMI and compound interest, which are often foreign to many customers. The series of ‘Jargon Buster’ videos provides information for brokers to help customers become more financially confident and create stronger relationships through the process. The major bank’s BDMs also provide digital educational sessions and actively encourage brokers to familiarise themselves with a range of vulnerable circumstances that clients may face, to help them feel confident in supporting them. Wright reminds brokers that for customers in a vulnerable position it can be difficult. When a broker suspects financial abuse or is told directly by their client that they are in a vulnerable position, it is important that they act with sensitivity, compassion and respect. The client needs to feel heard, so brokers should take the time to listen to them. “It is essential that they follow up with a friendly phone call to check in with the client,” Wright says. Brokers can also contact a number of expert support services, as well as the Westpac Broker Hotline, which will escalate the matter so the client receives the appropriate level of care. But Wright adds that when brokers do spot the signs, they should “care, but not carry”. “Acknowledging or witnessing financial abuse can be confronting, and while it’s important to help where we can, it’s also equally important for brokers to look after themselves and their colleagues who may be exposed to difficult customer interactions,” she says. Recognising the importance of diversity and inclusion more widely, Westpac works with aggregators on a range of digital events to support this, including Connective Empower, FAST Digital Women in Business, and Loan
SIGNS OF FINANCIAL ABUSE Brokers may have an inside view of a client’s personal relationships and level of financial control, and a unique perspective of their situation when meeting them in their home, either physically or virtually. Some indicators of potential financial abuse include:
Tone of voice: client appears or sounds distressed/scared
Client is unaware of activity on their account, or their income is being siphoned
Client is coerced by a partner, family member or third party
They are reluctant to involve the co-borrower
One party tries to make separate banking arrangements without notifying the other
Client discloses an intervention order
Market Leading Ladies. It has Employee Action Groups such as ‘GLOBAL’, which focuses on LGBTQI+ inclusion, and a newer group to support veterans transitioning into corporate roles from military service. Westpac was also the first bank to have a dedicated Women’s Markets team focused on understanding the needs of female clients. This team was brought to life through Ruby Connection, an online community for Australian women that focuses on what
Client is no longer receiving their mail
There is fraudulent use of their details to obtain credit
Partner demands Client appears fearful of evidence of their partner/family member or expenditure concerned about safety/privacy
Questions are asked about the other account holder’s behaviour or activities
Partner withholds or threatens to withhold financial support
women want to know about things like finance, business and career. “We’re focused on continuing to support diversity and inclusion in our organisation and community, including our broker networks,” Wright says. It’s important to remember that there are no circumstances in which financial abuse is acceptable, she says, so if you think this might be happening to you, don’t be afraid to get help.
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FEATURES
DIVERSITY AND INNOVATION
Fresh approaches from diverse teams Over more than 20 years in the financial services industry, 86 400’s lending product lead, Melissa Christy, says she has worked with some great female role models and learnt the value of diversity when it comes to innovation and new ideas AS A new and innovative addition to the home loan space, smartbank 86 400 understands the importance of having a diverse workforce. The fintech, which officially launched in 2018 and received its banking licence in mid-2019, is redefining the way that banking and lending are done, by offering completely digital processes. This kind of innovation comes from a culture of diverse thinking and ideas. Lending product lead Melissa Christy says the diversity piece – particularly in terms of age groups – has allowed for fresh approaches to the business. 86 400’s employees range in age from their 30s to their 60s, its leadership is made up of a balanced team of males and females, and there are 19 native languages spoken across the workforce. “Diversity is important so that we continue to challenge the norm and change the industry to bring innovation,” she says. “If we were all the same, we’d all think the same, and we wouldn’t have the people to challenge what is there today.” With most Australians having some form of banking relationship, the industry’s customer base is expansive. Therefore it makes sense that, to be successful, banks need to reflect who their customers are.
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“Customer success equals business success,” Christy says. “Our business needs to represent the changing life stages of all our customers: the different ages, the different types of customers,
from different places,” she adds. “I think the fact that we have a diverse team means we can provide a better customer experience for everyone – because we are not all of the same mould; we’re from all different walks of life,
“If we were all the same, we’d all think the same, and we wouldn’t have the people to challenge what is there today” Melissa Christy, 86 400 HOW HAS THE PUSH FOR DIVERSITY SHIFTED? When 86 400’s lending product lead, Melissa Christy, first started in the finance industry, she says there were no targets or quotas to ensure that companies hired a certain number of female employees, whereas many have now introduced those. She adds that there has been a shift in the types of people banks and financial services organisations are employing, which goes beyond gender. “A bank that was a traditional bank would employ people who have experience in a bank,” she explains. “But today, employing people from different backgrounds and different industries is more the norm, and it’s important to be more customer-centric, to have that diversity of experience so we can align to customer needs. I think companies just need to be more conscious that, when they hire, if they’re going to attract the best talent they need to be more balanced in who they employ.”
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we’re from different countries, we’re different ages. So we see the different perspectives of different customers, and we can design with all of them in mind.” Christy has worked in financial services for more than 20 years, with 15 of those specifically in the mortgage space. During that time, some of her work has involved technology and innovation, and helping establish online banks in the UK. Despite both financial services and technology being typically male-dominated industries, Christy says she has had a great experience of working in these areas as a female. When she first joined the industry in a job at Westpac, she had a female boss and a female general manager who provided her with support. They were role models for Christy, allowing her to see where she could go with her career, and influenced who she is today. One of the biggest concerns for women in the industry has been a lack of awareness of other successful women or women they can turn to for advice and support. Christy says it is very important that women coming into the business have those female role models and mentors. “It definitely was important for me when I was younger, because I could see what other people were achieving,” she says. “These people that I was working for were promoters of me, but also showed me that I could do anything I wanted. “Where banking and financial services is traditionally male, and finance in general has been a traditionally male role, I think they showed me that that was all changing, and it’s definitely changed now. Women are taking on more of a role in their own finances but can also do any of the jobs that are out there.” While Christy believes the industry has come a long way in increasing diversity over the past two decades, with more women taking on leadership roles, she believes the impact of COVID-19 will in fact continue to make things better.
As a mother of two, Christy knows the benefits of a flexible work environment. With financial services joining the rest of the business world in moving to work-from-home arrangements due to the pandemic, this allows a greater level of flexibility, which she says will appeal to more women.
an easy place to balance my home life and the working from home, the leaving early to pick the kids up or take them to something – whatever, I can fit it in.” To other women who are new to the industry or thinking of joining it, Christy says it is a great business for women to be in.
“These people that I was working for were promoters of me, but also showed me that I could do anything I wanted” Melissa Christy, 86 400 “I think it’s these flexible working practices that will change things, because that just suits so many more people,” she says, pointing out that the working world is moving beyond the nine-to-five behind-a-desk working day. “I’m a working mum, and 86 400 has been
“I’ve always had a great experience working in financial services, and I’ve worked with some really good leaders, so I think women really have the potential to go places in this industry, and there’s a lot you can achieve,” she says.
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FEATURES
FEMALE VISIBILITY
Welcoming a spectrum of thought This year’s ANZ Doyenne program may be taking place virtually, but it is continuing its incredible work of elevating the voices of women in broking. The bank’s GM retail broker explains the ripple effect of change this is creating FOR WOMEN in broking, seeing the work other women do in the industry and hearing their perspectives is an important driver of greater gender diversity. That is why ANZ’s Doyenne program aims to elevate women’s voices and build professional visibility in the mortgage broking industry. Now in its third year, the program offers women the tools, courage and self-belief to recognise the value of their own voices in the media. After the 2019 Women for Media Report showed that men accounted for 66% of all direct sources quoted – and 86% of those quoted by certain outlets – ANZ sought to close that gap. In a COVID-19 world, this remains an important matter, and the program is focusing this year on leading and visibility during difficult times – albeit in a virtual format. ANZ’s GM retail broker, Simone Tilley, who designed the program, says the feedback shows it has helped participants give themselves “permission” to speak up, be heard and
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confidently step forward into the spotlight. Tilley has seen more journalists proactively engaging with Doyenne women more regularly to seek their opinions and thought leadership. “If I reflect on the female presence in the third party industry media when I first started
diversity, the more positive momentum Tilley believes will be generated to bring everyone on the journey. It is not just female voices, however. She notes that “male champions of change” are genuine believers, praising their leadership styles as progressive and inclusive. “[It is] worth reminding everyone that we are all leaders, whether that be in your homes, schools, offices, workplaces, sporting arenas,” Tilley says. “This is about being the best possible version of ourselves so we can lead effectively, drive richer discussion and debate, improve staff engagement and bring out the best in others.”
Reflecting the community It goes beyond gender, too. ANZ’s purpose is to “shape a world where people and communities thrive”, Tilley says. In order for this to happen, it is critical that the bank’s workforce mirrors the community it serves. This means welcoming and inviting difference, whether it be gender, style, skill, ethnicity, the LGBTQI+ community or culture, and therefore bringing in diversity of thinking. “We all bring something different to the table,” Tilley says. “Irrespective of appearance, we all have differing views, beliefs,
“If I reflect on the female presence in the ... industry media when I first started in this role, compared to what it is today, it has fundamentally changed” Simone Tilley, ANZ in this role, compared to what it is today, it has fundamentally changed,” she says. “I’m incredibly proud of the small contribution we have made in instigating and driving a change in mindset and a ripple effect from that.” The more that female voices are elevated and the industry talks about the benefits of
backgrounds, passions, expertise. We have also had differing experiences and journeys. Creating the culture of respectful enquiry and genuinely trying to understand someone else’s point of view before hurrying on to the next item on the agenda is a purposeful habit. It creates a healthy foundation for everyone to
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FEMALE VOICES IN THE MEDIA
Financial Review The West Australian Herald Sun ABC Daily Telegraph SMH The Australian The Guardian Courier Mail Yahoo!7 News.com.au Daily Mail Australia The Age 9news Buzzfeed Total
MALE 38 (86%) 17 (85%) 33 (80%) 45 (75%) 23 (74%) 28 (72%) 42 (69%) 47 (68%) 26 (67%) 17 (65%) 43 (64%) 24 (60%) 25 (57%) 18 (55%) 23 (41%) 416 (66%)
FEMALE 6 (14%) 3 (15%) 8 (20%) 15 (25%) 8 (26%) 11 (28%) 18 (31%) 22 (32%) 13 (33%) 9 (35%) 24 (36%) 16 (40%) 19 (43%) 15 (45%) 33 (59%) 212 (34%) Source: Women’s Leadership Institute Australia 2019 Women for Media Report
encourage and lean into constructive criticism and raise the strategic orientation and bench strength of the team. “Welcoming and inviting a broad spectrum of thought can mitigate against unconscious bias and ultimately strengthen decision-making processes by creating a licence to challenge the status quo, foster a spirit of curiosity in a respectful way, and drive continuous learning,” Tilley says. Creating that culture requires effective leadership, which sees leaders ‘walk the talk’, drive richer discussion and debate, improve staff engagement, and bring out the best in others. “When diversity is supported genuinely throughout all layers of an extended team, culturally, it creates a platform for a trusted
speak-up culture without fear or reprimand,” Tilley says. “People will feel comfortable about bringing their whole of self to work, feel comfortable about contributing, and feel accepted; they adopt a sense of pride about where they work, and this can also be linked to stronger motivation and loyalty.”
Moving forward The Doyenne program will be more condensed this year and will be held virtually for existing participants. The line-up of speakers includes ANZ CEO Shayne Elliott and highly respected thought leaders from the business community. As long as restrictions allow, Tilley is hoping for a more robust, face-to-face series with a new cohort of women in the new year. But in the
meantime, it’s important to keep the topic on the table until difference “is truly visible”. “I think if people continue to share stories bravely and explain how they have overcome their own fears and vulnerabilities, it will continue to inspire others who identify with their story to push themselves forward to set new personal goals,” she says. “Everyone needs to ask themselves: Are your office jokes really ‘funny’? Have you got the right diversity around your own tables? How are you inviting constructive criticism to drive broader discussion on a range of key issues? “How can you lift your own personal bars? Are these changes optical or are they real? As an industry, we are better together.”
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FEATURES
WORKPLACE DIVERSITY
Cracking the diversity code Workplaces and businesses will benefit from diversity and inclusion, especially during the challenges of COVID-19. Aggregator FAST has been leading the charge towards greater diversity in a series of podcasts and events
DIVERSITY AND INCLUSION is not something businesses should expect to happen naturally; instead it requires action, says FAST CEO Brendan Wright. The push for greater diversity is not new, but with the world now facing the global coronavirus pandemic and all the challenges that come with it, this is a time when businesses can truly benefit. Wright says diversity and inclusion will make a real difference in dealing with challenges, enabling businesses to mitigate risks and leverage opportunities. In the last few months FAST has released several podcasts as part of its series Adjust the Contrast, discussing the benefits of diversity. One podcast, hosted by Masterchef winner Adam Liaw, looked at the Australian workplace and whether it was the problem or the solution to the country’s diversity issues.
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“By not embracing diversity, businesses can come very quickly out of step with people, customers and the community” Brendan Wright, FAST Wright says businesses often ignore the fact that diversity is a necessary driver of innovation, adding that it is more than just a discussion point and should be used as a “practical tool”. While gender diversity is a good place to start, Wright says it goes “way beyond that”. “We tend to tilt towards tangible things like gender and other points of view to measure diversity in the workplace,” he explains. “[But] diversity in the workplace comes alive when
you see it in the processes and procedures. In other words, it’s about the culture and the way things are done. “There’s risk management and opportunity that comes from diversity, particularly diversity of thinking, and this is what the game is all about.”
How diversity leads to trust Diversity plays a huge role in relationships and success, especially in a service-based
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industry. Consumers look to businesses and question whether their leadership and people seem to represent them. “By not embracing diversity, businesses can come very quickly out of step with people, customers and the community. They’re not engaging in the right way with their customers, and that’s the real risk,” Wright says. But businesses that do embrace diversity build trust within the community they are looking to serve. This goes beyond gender and race. At FAST’s recent Women in Business event, there was discussion around generational
allow different voices and perspectives to engage. With this diversity of thinking could come conflict, but Wright says this is OK. “Conflict is not a bad thing; it can be a different point of view. Better to hear it and get a different perspective rather than have it swept under the carpet and unsaid – and that comes to the culture of business as well,” he says.
A need for confidence and calm As for FAST, the aggregator is working towards a culture in which people are encouraged to speak up, have a view and contribute. Wright says it needs to be leader-
“If you haven’t got the right behaviours as leaders in the business, where you embrace and let them have a voice and contribute, well that’s not inclusion” Brendan Wright, FAST diversity. Younger generations act differently, purchase differently and think differently to those that are older. Wright uses the example of how older generations would typically go to work to pay the bills and put food on the table, but now younger generations want to go to work for a purpose, to be engaged and to contribute to something. “So it’s important that the diversity strategy within your business and having that diverse thinking enables you to understand those customers and then deliver the right outcome to them,” he says. To work towards trust, Wright says the approach to diversity and inclusion needs care and attention. There is more to it than hiring someone into a role for their diversity of thinking or experience and then leaving them to it. “It takes hard work,” he says. Leaders need to support their teams to
led, but leaders do not have to come up with all the answers. Instead, it is important to allow others to have a point of view and contribute to decisions or problem-solving. But the leadership of the business is what creates the environment in which people can engage, and this is where inclusion comes in. Juliet Bourke, who leads Deloitte Australia’s Diversity and Inclusion Consulting practice, spoke in FAST’s podcast episode Cracking the Diversity Code, and Wright refers to her analogy that inclusion is what brings diversity in and then stirs up the ingredients. “You can have diversity, but the behaviours – including others and being inclusive – actually having those behaviours is what brings the extra value out of a diverse workplace,” he says. “If you haven’t got the right behaviours as leaders in the business where you embrace
PERSPECTIVES ON DIVERSITY In a recent Adjust the Contrast podcast led by FAST, Malaysian Australian chef Adam Liaw asked guests whether the workplace was the problem or the solution when it came to Australian diversity. Chris Berg, co-director, RMIT Blockchain Innovation Hub: “When I think about the question of diversity, it’s diversity of backgrounds, diversity of genders and so forth, but it’s also diversity of ideas. And particularly when we’re thinking about workplace environments, or environments where we’re seeking to get the best outcomes out of a group of people, I think it’s very important to cultivate an environment where people can speak ideas that might pursue the goals of our organisation.” Benjamin Law, author and journalist: “The reason we’re trying to right diversity and inclusion isn’t because of cosmetic reasons; we’re really trying to challenge the structures of nepotism that have existed for a long time and sometimes have to do with class, status and of course race and cultural background. I think sometimes we’re trying to have a very gentle, lovely kumbaya conversation about diversity and why don’t we include people from different cultural backgrounds, and I think the conversation is far more serious and far more urgent.”
and let them have a voice and contribute, well that’s not inclusion.” He adds that one example of how leaders can leverage diversity is by speaking last and allowing others to put across their point of view first. “That’s a strategy that elicits diversity. Really capable leaders do that,” Wright says.
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FEATURES
SUPPORTING WOMEN
Inspiring women to reach new heights Broking has tended to be a male-dominated industry, but Mortgage Choice CEO Susan Mitchell tells MPA how the broking network is helping change that with its ASPIRE program ACROSS FINANCIAL services, Australia is one of few markets around the world with a strong broking system. Data from the MFAA shows that Australian consumers continue to choose mortgage brokers for their home loan needs. Brokers facilitated more than half of all new residential mortgages during the March 2020 quarter (52.1%), which shows that there is strong demand for broker services. This environment creates a significant opportunity for brokers to thrive. That said, female representation is still very much a work in progress for the broking industry. MFAA research shows that female participation in the industry took a sharp turn in 2019, and the proportion of females who were new recruits was trending down. For Mortgage Choice CEO Susan Mitchell, redressing this balance and creating space for women in the industry into the future is of critical importance. “At Mortgage Choice, we have a history of successful female brokers who have built profitable, sustainable businesses,” says Mitchell. “But most of these women will tell you that they wouldn’t have been able to achieve success without sacrifice and strong commitment.” Embarking on a broking career – or further down the track, starting your own broking
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franchise – on a part-time basis is extremely difficult, Mitchell points out. Broking has never been a traditional nine-to-five job, and women juggling work and family life tend to be particularly beset by difficulties; societal expectations around women fulfilling the role
of a homemaker alongside work commitments create significant challenges. “The pressure of being everything to everyone can be a huge obstacle to female broker business owners,” Mitchell says. She does believe that positive change is
“With women making a significant share of household financial decisions today, there is untapped opportunity for female brokers to support these women” Susan Mitchell, Mortgage Choice ABOUT MORTGAGE CHOICE Mortgage Choice was established in 1992 by co-founders Rod Higgins and Peter Higgins, who had a vision of building a national network of ethical, credible and professional mortgage brokers who local communities could trust. Our goal is to help Australians make better decisions with their finances, because at Mortgage Choice we understand that better choices lead to a better life. Our national network of professional mortgage brokers and financial advisers is committed to empowering customers by sharing their expertise and offering solutions that meet a person’s unique circumstances. At Mortgage Choice, our brokers offer customers a wide choice of home loan products via an extensive panel of leading lenders. We can also assist with personal loans, commercial loans, asset finance, deposit bonds, and risk and general insurances.
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occurring though, pointing to the shifts that have taken place since she joined the industry. “When I first started in the financial services industry in Australia 15 years ago, it was rare to see women in leadership positions, but I’m glad to say that the industry has slowly changed for the better,” she says. Mitchell notes that Mortgage Choice has both a female chair and a female CEO for the first time in the company’s 30-year history. Additionally, half of its sales leadership team are female. She believes this reflects wider trends towards diversity and inclusivity around the world; there’s a growing momentum of change. “We’re seeing more success stories of women in leadership on the global stage, and more women being celebrated for their actions and recognised for their achievements,” she says. Mitchell also sees opportunities for future brokers: in 2017, the BT Australian Financial Health Index found that 89% of women were at least jointly responsible for making major financial decisions for their households, while 48% were the key decision-makers. “With women making a significant share of household financial decisions today, there is untapped opportunity for female brokers to support these women with their property ownership goals,” she says. With these considerations in mind, Mortgage Choice launched its ASPIRE program in March 2020 as an indication of its commitment to supporting established and emerging female talent within the field. “We wanted to celebrate and further develop the incredible female talent that exists within our network of mortgage brokers, financial advisers and their teams,” Mitchell says. For the inaugural events, Mortgage Choice held afternoon teas in Adelaide, Sydney, Melbourne, Perth and Brisbane and invited women from its network to hear from guest speaker Jane Counsel. Recognised in the industry as an expert in diversity and inclusion, Counsel facilitated a panel of female business
“The more we shine a light on women that are doing well, the more we will encourage other women to follow in their footsteps” Susan Mitchell, Mortgage Choice leaders who shared with the audience their experiences as brokers and business owners. “One of our objectives with ASPIRE is to celebrate our female role models and nurture the emerging talent and next generation of female franchise owners in our network,” Mitchell says. “These events allow brokers and advisers to share with and learn from their peers.” The next instalment of the ASPIRE program will take place in September, with three digital masterclasses featuring a high-performance coach. The masterclasses have been designed to equip the female talent pipeline with tools to build resilience, maintain energy and develop a high-performance mindset in challenging
times. They will demonstrate how women can set and achieve business and personal goals and live with purpose. “The more we collectively shine a light on women that are doing well, the more we will encourage other women to follow in their footsteps and break down the barriers,” Mitchell says. “We want a thriving community of business owners and brokers from diverse backgrounds, so we need to celebrate successful brokers with diverse backgrounds, embrace new people into the industry through mentoring, be a role model to younger generations, and act as a positive force in our local communities.”
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FEATURES
OPPORTUNITIES FOR WOMEN
Women in finance: Breaking the myths As the MFAA continues its push towards addressing and overcoming the barriers to women and other diverse groups working in finance, one female broker shares her experiences and why she loves the industry NEW RESEARCH from the 2020 MFAA Opportunities for Women survey indicates that the biggest perceived barriers to women in mortgage broking are unconscious beliefs about gender roles in the workplace, as well as an industry culture that is not inclusive of women. For women who have entered the industry, this checks out. They have told their stories about what it is like entering an industry that is predominantly male, in which women do not feel they are taken seriously. Wealth coach and finance adviser at Assurance Finance and Business Solutions Helia Singh started out as a trainee broker back in 1999 after moving from Iran a few years earlier. At the time, almost every bank BDM was male, she says, recalling that at the first workshop she attended she was the only woman in the group and people kept referring to her as “Raymond’s assistant”. While her manager did correct them, saying she was there as a broker, it still raised some eyebrows. These challenges were not just experienced at broker events. At the office, male clients would come in, and Singh would talk to their wives and partners who knew nothing about finance but were there to sign a document.
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THE GROWING ROLE OF FEMALES IN FINANCE With two decades in broking, wealth coach and finance adviser at Assurance Finance and Business Solutions Helia Singh says she has seen the behaviours of female borrowers shifting. In the latest MFAA Opportunities for Women survey, almost half of respondents believed women in Australia now have at least an equal share of responsibility for household financial decisions.
In your opinion, what percentage of financial decisions (including mortgages) are made by the females in an Australian household?
Unsure
7.88%
Less than 25%
5.86%
25–50%
34.98%
50–75%
44.32%
More than 75%
6.96% Source: MFAA Opportunities for Women 2020 report
“The sense of achievement and empowerment that we can make a difference even if we are operating as a sole broker in our business is priceless” Helia Singh, Assurance Finance and Business Solutions
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They, too, often assumed she was an assistant. Since then, Singh has become an advocate for financial education for women to eliminate financial and domestic abuse, and says she has seen a real shift among Australian borrowers. “I can see amongst my clients that gender diversity has broken the myth that ‘women don’t know much about money or business compared to men’,” she says. “That by itself has given a different level of confidence to female applicants to speak up and voice their opinions. This way, women won’t be intimidated in the sessions if male advisers run them.” Two decades into her career as a broker, Singh explains that, for her, the rewards lie in this type of success, not just the financial business. Not only has she been actively participating in seminars, conferences and workshops in order to contribute and pass on her knowledge to encourage other women in the industry, but she has twice won the MFAA’s Community Champion awards in Western Australia. “The sense of achievement and empowerment that we can make a difference even if we are operating as a sole broker in our business is priceless,” she says. The MFAA has been working over the last few years to raise women’s voices and address the challenges that new-to-industry female brokers often face. The association launched its Opportunities for Women program in 2017, and the first survey went out in 2018. The initiative has shone a light on the barriers women face when working in the industry. More respondents in the 2020 survey recognised the industry culture as being one of the biggest problems. But the research continues to show huge perception gaps between men and women in the industry, as well as a growing proportion of respondents admitting they are unsure
pushing to increase representation of women in broking, they would benefit from guidance on where to invest their time and effort. The need for peer support and mentoring has been emphasised both in the survey report and by women in the industry. “Peer support is seen as critical to retaining women in the industry, particularly when they are new to the industry or experiencing challenging times, such as trying to run a business while starting or growing their families or looking to change pace,” Counsel says. The MFAA’s research over the last three years has also demonstrated the reasons why the industry might be attractive to women. In the 2019 survey results, respondents said flexible working conditions was the most appealing attribute of broking, followed by the ability to run your own business. Singh genuinely loves her job and takes the time to encourage and mentor women who ask whether the industry is right for them. “I’ve had other new female brokers contacting me to ask my opinion about the industry and whether it is the right career
“I would love to see more women, especially from a diverse background, join this industry, become successful and break the myths” Helia Singh, Assurance Finance and Business Solutions about the support out there for females and diverse groups. Jane Counsel, executive coach and diversity and inclusion consultant at Executive Central, who has been advising and working with the MFAA on the Opportunities for Women initiative since it began, explains what else the survey shows. For instance, while industry leaders are
choice for women, and I am always happy to give them advice and mentor them through my coaching program,” she says. “I would love to see more women, especially from a diverse background, join this industry, become successful and break the myths, as together we can become a strong force and role model for all the women and girls in Australia.”
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FEATURES
DIVERSE SOLUTIONS
Finance for diverse outcomes Since its foundation 23 years ago, Liberty has sought to make finance more inclusive and accessible for everyone. CEO James Boyle talks to MPA about the lender’s initiatives to support inclusivity both in finance and the broader community it serves SINCE DAY ONE, Liberty has been built on a vision of providing flexible solutions to help all sorts of customers achieve their financial goals – breaking down barriers and supporting financial inclusion. With one of the largest BDM teams of all Australian non-banks, Liberty is committed to providing the support brokers need to build their businesses; embracing diversity is critical to this process. “As our business has grown, we’ve taken steps to broaden our solutions to help more customers,” says James Boyle, CEO of Liberty. “So now we have one of the most diverse and inclusive financial product sets in the market.” Earlier in 2020, Liberty formalised this support by becoming the first non-bank lender to sign up to the Financial Inclusion Action Plan (FIAP). The FIAP program includes an agreed set of actions to support financial inclusion, wellbeing and resilience in Australia, and aligns closely with the company’s mission to help more people get financial. “While the principles of financial inclusion are in our DNA, the wider principles of diversity and inclusion – in our workplace, for our customers and in the wider community – are vital to our business success,” says Boyle. Just as there is no one-size-fits-all approach to its loan solutions, a diverse workforce enables
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“Our people’s differences are an asset … and we’re committed to catering to more voices and perspectives in our community” James Boyle, Liberty Liberty’s employees to better place themselves in the customer’s shoes. Accordingly, Liberty is passionate about recruiting professionals from diverse backgrounds and cultures. “Our people’s differences are an asset,” says Boyle. “We acknowledge that we still have a way to go on our diversity and inclusion journey, and we’re committed to catering to more voices and perspectives in our community. We strive to create an environment where each person in our team feels seen, heard and
comfortable to make their vital contributions.” This commitment to diversity and inclusion isn’t limited to employment practices; as a business, Liberty feels a responsibility to improve the surrounding community by supporting and celebrating an increasingly wide range of experiences, preferences and heritage. It undertakes an extensive range of community initiatives to this end. “We are committed to supporting women within the industry to reach their potential,”
ABOUT LIBERTY FINANCIAL Liberty is a leading lender that offers free-thinking solutions at competitive prices to support customers by providing greater choice. With a wide range of loans for your home, car, business and personal needs, Liberty can help customers get financial even when others say it’s not possible. Our innovative and flexible approach has allowed Liberty to help over 500,000 customers by advancing more than $25bn in funds over 21 years. For more information, visit www.liberty.com.au.
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“We know that major culture shifts rarely happen by chance. By investing the necessary time and resources, we believe we can make a real impact” James Boyle, Liberty says Boyle. “This includes partnerships with Work180, Grad Girls and the Workplace Gender Equality Agency, as well as our in-house Women in Leadership workshops which empower our female leaders with support and education programs.” Liberty’s working parents and carers are supported by industry-leading parental leave and fertility support policies, as well as subsidised KidsCo educational childcare services (run virtually during lockdown) . “Our family and domestic violence policy has also been updated to provide up to five
days of paid leave and a minimum of two days of compassionate leave for those who feel unsafe and in need of support,” says Boyle. Liberty is the proud sponsor of the MFAA Opportunities for Women report, which has been running for the past three years, and has also introduced a number of initiatives internally to support greater inclusion. “We host a range of cultural education initiatives featuring guest speakers from a variety of backgrounds, as well as ‘Around the Globe’ catered lunches featuring cuisines from all over the world,” says Boyle. “We also host a
Liberty ‘World Expo’ where team members are invited to present their heritage to their peers and share some insights into their culture.” He adds that the Liberty Pride Network celebrates and supports the company’s LGBTIQ+ community, and facilities have also been upgraded to better cater to all. “Our leadership team undertake diversity and inclusion training, helping to increase awareness, understanding, knowledge and communication,” says Boyle. “This training empowers our leaders to further educate and be an example for their teams and foster an inclusive culture that is shared via interactions with our business partners. Whether it’s through a BDM, an underwriter or a service specialist, brokers can be assured that Liberty is always there to help guide them through complex situations and deliver positive customer outcomes.” Boyle points out that diversity and inclusion aren’t “quick fix” projects. “We know that major culture shifts rarely happen by chance,” he says. “By investing the necessary time and resources, we believe we can make a real impact on the lives of those within our network and help build a more inclusive and collaborative community. To continue this trajectory, Liberty has committed to a number of formal arrangements to help guide the path forward. The company is working closely with Reconciliation Australia to create a Reconciliation Action Plan in support of building stronger relationships with Aboriginal and Torres Strait Islander peoples. Additionally, Liberty continues its partnership with the Australian Government’s WGEA. An even gender split has been achieved among team leaders, and the company continues to work towards reaching this balance across the business. “We’ll continue to explore further training and education opportunities that we can offer our team members, and we consistently review our internal policies to ensure they align with our overarching mission,” says Boyle.
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16 OCTOBER 2020 MPA’s annual Australian Mortgage Awards are coming later this year, and there’s a group of stellar finalists vying for the big prizes THESE TOP-PERFORMING BROKERS, lenders, aggregators and BDMs across 28 categories are ready to be recognised for their outstanding achievements, innovation and leadership moving the industry forward. At this year’s virtual event in October, they will celebrate each other’s efforts that have redefined success in the mortgage industry. As ever, it was a fantastic year for nominations – despite also being an incredibly challenging year for the sector. We would like to say a massive thank you to everyone who made their voice heard during the nomination process. This event relies on the input of hard-working mortgage professionals just like you. The following pages list the organisations and individuals who have been shortlisted across all award categories. Be sure to attend the virtual awards show on 16 October, when we will reveal the big winners and applaud their successes in style.
australianmortgageawards.com.au
EVENT PARTNER
#AusMortgageAwards
AWARD SPONSORS
BROKER
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EVENT PARTNER
A MESSAGE FROM OUR EVENT PARTNER 2020 MARKS the 11th year of Westpac’s partnership with the Australian Mortgage Awards. Although the year so far has witnessed extraordinary times, Australians have been through ups and downs before and will, like they always do, get through, together. From catastrophic bushfires to a global pandemic that’s changing the way we live and work, the broker community has continued to demonstrate its ability to adapt to the changing operating environment and help customers with their homeownership needs. We’re just as committed to helping more Australians into their homes today, and into the future, as we always have been. Australians value the choice and independence mortgage brokers provide, and this is something to celebrate together at this year’s AMAs. The third party distribution channel continues to contribute strongly to the growth of the Westpac home lending portfolio and is testament to the strong and sustainable relationships we have built with brokers. The broker channel is a priority for us, and in a volatile environment we know we need to embrace change and continue to improve the experience that brokers and customers receive from Westpac. Congratulations to all the finalists – you should be extremely proud of your achievements during a particularly tough and unprecedented time. Although this year we are unable to celebrate with you in person, your hard work and dedication to service sets an example that will ensure mortgage broking continues to go from strength to strength.
OFFICIAL PUBLICATIONS
ORGANISER
Warren Shaw Head of mortgage broker distribution, Westpac Group
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AUSTRALIAN MORTGAGE AWARDS FINALISTS 2O2O LA TROBE FINANCIAL BROKER OF THE YEAR – COMMERCIAL
FBAA BROKER OF THE YEAR – INDEPENDENT
• Barry Thatcher, Thatcher Finance
• Alex (Aleksandar) Veljancevski, Eventus Financial
• Daniel Green, Green Finance Group
• Barry Thatcher, Thatcher Finance
• George Karam, BF Money
• Daniel Berti, Berti Financial
• Greg Pierlot, The 500 Group
• Daniel Dusevic, Experity Capital
• John Encina, Experity Capital
• Fane Levy, Shore Financial
• John Lucci, Loan Market
• Holly Bundy, Bundy Financial Services
• Melissa Aschroft, AAA Mortgages
• Josh Bartlett, Mortgage Advice Bureau
• Andrew Soo, GM Capital Solutions
• Josh Egan, Astute Melbourne City South and Gippsland • Kris Menon, Origin Finance • Stephen McClatchie, Loans Australia
PROUDLY SPONSORED BY
PROUDLY SPONSORED BY
La Trobe Financial is one of Australia’s leading non-bank wealth managers and credit specialists.
The Finance Brokers Association of Australia Limited (FBAA) was established in 1993 and is respected as the leading professional association for finance and mortgage brokers in Australia, with its leadership recognised internationally. The FBAA not only insists on the highest levels of professionalism, ethics and standards from its members, but is the industry association of choice for finance professionals.
Our commitment to innovation, product quality and superior service has been proven over 65 years. We have a broad product range focused on meeting the needs of customers inadequately met by the traditional banking sector. P: 13 80 10 W: www.latrobefinancial.com.au/borrowers
The FBAA philosophically stands to support your business needs as well as your mental health and leads the advocacy to government for the industry, ensuring that brokers’ rights and future are preserved and well protected. P: +61 7 3847 8119 E: info@fbaa.com.au W: www.fbaa.com.au
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EVENT PARTNER
PEPPER MONEY BROKER OF THE YEAR – SPECIALIST LENDING
BROKER OF THE YEAR – PRODUCTIVITY
• Daniel Green, Green Finance Group
• Adam Burstein, Nuage Finance
• Darin Hindmarsh, Intellichoice
• Daniel Green, Green Finance Group
• Jonathan Preston, Home Loan Experts
• Josh Bartlett, Mortgage Advice Bureau
• Mhairi MacLeod, Astute Ability Group
• Joshua Trevitt, JT Home Loans
• Michael Hughson, Arthurmac
• Prakash Rai, Home Loan Experts
• Mitchell Boulden, Jennings Mortgages
• Robert Simpson, Loan Market
• Penny Huyan, Goldenwater Finance Group
• Stephen McClatchie, Loans Australia
• Ray Ethell, Non Conforming Loans
• Vicky Nikova, Aqua Financial Services • Vivienne Than, Home Loan Experts
PROUDLY SPONSORED BY
BROKER OF THE YEAR – REGIONAL As Australia’s number 1 alternative lender, we live our mission: to help you succeed. Since 2000, we’ve been providing a variety of home loan solutions, including some the banks won’t – we also provide car loans, personal loans, loans for professional equipment, and commercial loans. Our goal is to provide you with first-class service and innovative products to help cater to the needs of your clients who are unable to meet the lending criteria of traditional lenders and mortgage insurers. Aaron Milburn, director of sales and distribution, Australian Mortgages & Personal Loans E: amilburn@pepper.com.au M: +61 438 416 882 W: www.pepper.com.au/broker
• Joshua Trevitt, JT Home Loans • Kaia Hunter, Mortgage Choice Buderim • Mhairi MacLeod, Astute Ability Group • Paddy O’Sullivan, Mortgage Choice Nowra • Paul Wright, MoneyQuest Wollongong • Robert Simpson, Loan Market
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AUSTRALIAN MORTGAGE AWARDS FINALISTS 2O2O MFAA YOUNG GUN OF THE YEAR – FRANCHISE
ADELAIDE BANK YOUNG GUN OF THE YEAR – INDEPENDENT
• Brian Lowe, Aussie Home Loans Taigum
• Andrew Loucas, Loan Base
• Jonathan Lee, Mortgage Choice Williamstown
• Asad Rizvi, Riz Finance
• Katie Dowton, Mortgage Choice
• Duncan Ahlin, Real Estate Investment Finance
• Radenka Subotic, MoneyQuest
• Evelyn Clark, Accession Finance
• Robert Simpson, Loan Market
• Gareth Couper, Think Big Financial Group • Mohit Lal Pradhan, Home Loan Experts • Taila Sullivan, Indigo Finance • Thomas Morison, Smartmove Professional Mortgage Advisors • Yianni Pazios, Aspire Lending
PROUDLY SPONSORED BY
PROUDLY SPONSORED BY
The Mortgage & Finance Association of Australia (MFAA) is the peak national industry body for professional finance brokers, lenders, aggregators and service providers.
As a lender solely dedicated to third party distribution, we’re renowned for going out of our way to support brokers. We have the strength of the Bendigo and Adelaide Bank Group, a top ASX100 company, behind us and a home loan product range packed full of features and flexibility (our 100% offset fixed account is just the start).
Established in 1982, the MFAA represents over 13,500 members and contributes to a healthy, competitive mortgage and finance industry through advocacy, education and business building support. Our finance brokers operate within a professional Code of Practice that supports the alignment of the retail mortgage market with consumer trust and confidence. Together with our members, we work with the industry, regulators and the government to assist our members to match consumers with mortgage or financing outcomes that meet their individual financial objectives.
Amanda James Head of broker distribution P: +61 8 8300 6038 M: +61 412 451 235 E: amanda.james@adelaidebank.com.au W: www.adelaidebank.com.au
Stephen Hale Head of marketing P: +61 2 8905 1300 E: stephen.hale@mfaa.com.au W: www.mfaa.com.au
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EVENT PARTNER
CBA BROKERAGE OF THE YEAR (>20 STAFF)
BROKERAGE OF THE YEAR (6–20 STAFF)
• Home Loan Experts
• BF Money
• Oxygen Home Loans
• Empower Wealth Mortgage Advisory
• RateOne
• Experity Capital
• Redrock Group
• Green Finance Group
• Shore Financial
• Infinity Group Australia
• Smartmove Professional Mortgage Advisors
• Loan Market One Network Broking
• The Australian Lending & Investment Centre
• Mortgage Pros
• Loans Australia • Peasy • Time Home Loans
PROUDLY SPONSORED BY
Empower Wealth Mortgage Advisory, 2019 Brokerage of the Year (6–20 Staff)
At CommBank, we’re dedicated to improving the financial wellbeing of our customers and communities. We’re focused on supporting our customers every day – from our Home Loan Compassionate Care to Coronavirus Support. That’s why, during these uncertain times, we’re proud to say you can count on CommBank. P: 13 25 88 W: www.commbroker.com.au
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AUSTRALIAN MORTGAGE AWARDS FINALISTS 2O2O BROKERAGE OF THE YEAR –DIVERSIFICATION
BROKERAGE OF THE YEAR (1–5 STAFF)
BROKERAGE OF THE YEAR – REGIONAL
• Astute Melbourne City South and Gippsland
• Astute Ability Group
• Astute Ability Group
• Atelier Wealth
• Astute Gippsland
• Experity Capital
• Birdie Wealth
• Go Mortgage
• Finance Made Easy • Infinity Group Australia
• IFA Mortgages & Finance
• MoneyQuest Wollongong
• Real Estate Investment Finance
• Mortgage Advice Bureau Melbourne
• Mortgage Choice Erina
• Shore Financial
• Premier Financial Advocates
• TM Finance Group
• Mortgage Choice Nowra
• Thatcher Finance • Zippy Financial Group
Mortgage Choice Morphett Vale, 2019 Brokerage of the Year – Diversification
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EVENT PARTNER
NEXTGEN.NET NEW BROKERAGE OF THE YEAR
BOQ BROKER BEST CUSTOMER SERVICE FROM AN INDIVIDUAL OFFICE
• Ding Financial
• Berti Financial
• Experity Capital
• Mortgage Choice Ormeau
• Numero Uno Finance
• No Fuss Home Loans
• Ortus Financial
• Numero Uno Finance
• Premier Financial Advocates
• Rise High Financial Solutions
• Red10 Finance
• Shore Financial • Smartmove Professional Mortgage Advisors • Time Home Loans • Your Finance Adviser • Zippy Financial Group
PROUDLY SPONSORED BY
PROUDLY SPONSORED BY
BROKER NextGen.Net Pty Ltd is Australia’s leading technology 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. E: info@nextgen.net P: +61 2 9929 5999 W: info@nextgen.net
Bank of Queensland (BOQ) is one of Australia’s leading regional banks. We’ve been doing business since 1874 and pride ourselves on building long-term customer relationships based on mutual respect and understanding. BOQ off ers a full range of personal and business banking services and is regulated by the Australian Prudential Regulation Authority as an authorised deposit-taking institution. E: BOQBroker@boq.com.au P: +61 2 9929 5999 W: www.boq.com.au
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AUSTRALIAN MORTGAGE AWARDS FINALISTS 2O2O MOST EFFECTIVE DIGITAL STRATEGY – BROKERAGE
BEST INDUSTRY MARKETING CAMPAIGN
BEST INDUSTRY SERVICE
• Birdie Wealth
• Aussie
• Broker Essentials
• Empower Wealth Mortgage Advisory
• Loan Market Group
• HLE Nepal • iLoad Loans
• Infinity Group Australia
• National Finance Brokers Day
• Loan Base
• Resimac
• Trail Book Loans
• Shore Financial
• Zippy Financial Group
• NextGen.Net
• XIN Mortgage • Zippy Financial Group
NextGen.Net, 2019 Best Industry Service
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EVENT PARTNER
AGGREGATOR OF THE YEAR (UP TO 500 BROKERS)
BANKWEST BEST AGGREGATOR BDM
• Liberty Network Services • National Mortgage Brokers
• Chris Patsouras, Finsure Finance & Insurance
• Purple Circle Financial Services
• Heather Gallagher, outsource financial • Justine Hockley, Connective • Paul Gollan, Finsure Finance & Insurance • Peter Bryant, Vow Financial • Tracey Najjar, Centrepoint Alliance Lending • Zoe Uyen, Aussie Home Loans
AGGREGATOR OF THE YEAR (OVER 500 BROKERS) • AFG • Aussie • Connective • FAST
PROUDLY SPONSORED BY
Bankwest’s heritage spans 125 years, and we’re proud to have been partnering with the broker industry since the 1970s. We have the ambition to be the Best Broker Bank in Australia and will continue to support brokers in the critical role they play in improving customers’ financial wellbeing across Australia.
• Finsure • Loan Market Group • Mortgage Choice • outsource financial • PLAN Australia
Ian Rakhit GM Third Party Personal and Business Banking E: ian.rakhit@bankwest.com.au M: +61 476 842 344 W: www.bankwest.com.au
• Specialist Finance Group
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AUSTRALIAN MORTGAGE AWARDS FINALISTS 2O2O BEST MAJOR BANK BDM
MORTGAGE CHOICE BEST NON-BANK BDM
• Blake Hauber, Westpac
• Alastair McCosh, Resimac
• Blake McLucas, ANZ
• Belinda Gray, Bluestone
• Edmund Stewart-Mole, Westpac
• Drew Clegg, Pepper Money
• Julianne Brown, CBA • Lesley Klaege, ANZ
• Glen Gillespie, Better Mortgage Management
• Linda Oates, NAB
• Jessica Pringle, Pepper Money
• Natalie McCullough, CBA
• John Maxwell, Victorian Mortgage Group
• Sam Tang, Westpac
• Matthew Hall, Liberty • Nicole Evans, Wisr • Surinder Agnihotri, Australian Business Credit
Sam Tang of Westpac, 2019 Best Major Bank BDM
PROUDLY SPONSORED BY
Mortgage Choice’s nearly three decades of experience give you the perfect platform to build your career in an industry on the up. Ethics, credibility and trust have been the backbone of our business since day one, while our transparent, community-first approach continues to set us apart. A: Level 10, 100 Pacific Highway, North Sydney, NSW 2060 E: homeloans@mortgagechoice.com.au P: 13 77 62 W: www.mortgagechoice.com.au
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EVENT PARTNER
BEST NON-MAJOR BANK BDM
BANK OF THE YEAR
NON-BANK OF THE YEAR
• Andy Zhao, Bankwest
• ANZ
• Firstmac
• Anita Fung, Bankwest
• Bankwest
• Clem Marcocci, ING
• CBA
• Heartland Seniors Finance
• Dylan Cole, Bank of Melbourne
• ING
• La Trobe Financial
• Macquarie
• Liberty
• Grace Munro, MyState Bank
• National Australia Bank
• Mortgage Ezy
• St.George Banking Group
• Newcastle Permanent Building Society
• Westpac
• Pepper Money
• John Loukadellis, Macquarie • Omar Moussa, St George Bank
• Resimac
• Ross Fitzgerald, ING • Sally Breeze, MyState Bank • Tes Anderson, Bankwest
Denya Dean of Bluestone, 2019 Best Non-Bank BDM
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AUSTRALIAN MORTGAGE AWARDS FINALISTS 2O2O
EVENT PARTNER
LOAN SERVICES TEAM OF THE YEAR
MOST EFFECTIVE DIGITAL STRATEGY – LENDER
FINTECH LENDER OF THE YEAR
• Bankwest
• Bankwest
• 86 400
• Better Choice Home Loans
• Heartland Seniors Finance
• Funding.com.au
• CBA
• MyState Bank
• OnDeck
• ING
• Pepper Money
• Prospa
• Macquarie
• Resimac
• Wisr Finance
• MoneyPlace
• St.George Banking Group • Westpac
Bankwest, 2019 Loan Service Team of the Year
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Subscribe to Australia’s leading publication for the mortgage and finance industry Be the first to access • Interviews with the biggest names in the industry • Iconic special reports and industry rankings like Brokers on Banks, Brokers on Aggregators and Top 100 Brokers • In-depth features to help brokers build their business
Find out more at www.mpamagazine.com.au AMA20 Finalist Coverage_SUBBED_FIXED_V2.indd 53
24/08/2020 3:27:38 PM
AUSTRALIAN MORTGAGE AWARDS FINALISTS 2O2O
EVENT PARTNER
WESTPAC AUSTRALIAN BROKER OF THE YEAR
AUSTRALIAN BROKERAGE OF THE YEAR
TO BE ANNOUNCED ON THE NIGHT…
TO BE ANNOUNCED ON THE NIGHT…
This award recognises the most outstanding mortgage broker in Australia. The finalists in this category comprise the winners of the individual broker categories.
This award recognises the most outstanding brokerage operation in Australia. The finalists in this category comprise the winners of the brokerage categories:
• Broker of the Year – Commercial • Broker of the Year – Independent • Broker of the Year – Insurance (Mortgage Protection) • Broker of the Year – Productivity • Broker of the Year – Regional • Broker of the Year – Specialist Lending
• 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 • Brokerage of the Year – Regional • New Brokerage of the Year
PROUDLY SPONSORED BY
We are people always helping people. We’re Australia’s first bank. A company built on hard work and the Australian spirit. We have over 200 years of experience proudly supporting Australia. But it’s not the years that count; it’s the perspective we’ve gained. Our experience gives us a deep understanding of what really matters – a human connection born of empathy and support for the people of Australia. Help is deeply embedded in the DNA of this country, and our idea of help grows directly out of this national identity. Help when it matters is what Australians do. It’s always been part of what we do. W: www.westpac.com.au/brokers
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The most essential snapshot of which brokers are pushing the boundaries of their business, reaching new heights of efficiency, nailing customer service and writing more loans. The search for Australia’s top brokers will begin on 31 August 2020
Stay up-to-date with the latest industry news, visit: www.mpamagazine.com.au
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O h
CELEBRATE YOUR SUCCESS!
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Join the highly anticipated Australian Mortgage Awards where we will reveal the big winners and celebrate the successes of the mortgage industry over an incredibly challenging year.
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For further information, visit australianmortgageawards.com.au or contact awards@keymedia.com.au
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Event Partner
Award Sponsors
BROKER
Official Media
AMA20 Finalist Coverage_SUBBED_FIXED_V2.indd 56
Organiser
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24/08/2020 3:30:04 PM
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*Rates quoted are effective 20 August 2020 and subject to change at anytime. Rates quoted are for new to bank, Owner Occupier loans greater than or equal to $350,000 with up to 80% LVR. Subject to Citigroup’s credit criteria. Not applicable to pipeline or variation applications. Application fees may apply. Other fees including legal fees and valuation costs may apply. T&Cs apply and are available on request. ^Comparison Rate for fixed rates calculated on a loan amount $150,000 over a term of 25 years based on monthly repayments and reverting to a Mortgage Plus – Standard Variable loan with an LVR less than or equal to 80% on expiry of the fixed term. WARNING: This comparison rate applies only to the example or examples given. Different amounts and terms will result in different comparison rates. Costs such as redraw fees or early repayment fees, and cost savings such as fee waivers, are not included in the comparison rate but may influence the cost of the loan.
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FEATURES
WORKING FROM HOME
The secret to a structured workday Many of us who are still working from home are grappling with the idea that this could go on for much longer than we imagined. As we settle into this new way of working, it is important to know the secrets to remaining productive
FOR MANY Australians who now work from home most of the time, thanks to COVID-19, one of the biggest challenges is how the hours and days can blend together. And because you are no longer seeing your colleagues in person, the number of emails you are receiving has probably doubled, and phone and Zoom meetings have increased exponentially. It’s easy for your day to feel like one long
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reactive slog in which you don’t feel like you are actually getting any work done. Unfortunately, most productivity advice for working from home fails to consider something that underlies its effectiveness – your personal chronotype. Working to your chronotype can help you take back control of your workday by structuring it based on your natural energy levels.
Chronotype refers to your natural 24-hour sleep-wake cycle, which influences the peaks and troughs of your energy throughout the day. Around one in every seven people are what chronotype researchers call ‘Larks’. A Lark is a ‘morning person’. They wake naturally and early, generally before 6am. Larks literally bounce out of bed like a
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human Tigger and can be deeply irritating if you don’t happen to be running on the same chronotype. At the other extreme are ‘Owls’. Around one in every five people are Owls. As the name suggests, Owls come to life at night. They get their best work done in the evening, sometimes through to the wee hours of the
as work that is cognitively demanding. To do it well, it requires focus and a lack of interruptions, ideally for at least an hour, if not several. In contrast to deep work, the second type of work is ‘shallow work’. Work that falls into this category includes checking emails and instant messenger, making phone calls
The key to being productive throughout the day is designing your home workday around your chronotype morning. And unfortunately, standard office hours put Owls at a distinct disadvantage. They are far from firing on all cylinders at 9am and only start to come to life as everyone is clocking off for the day. The rest of us, who are neither brighteyed and bushy-tailed in the morning nor burning the candle well into the night, are ‘Middle Birds’. Middle Birds tend to follow the rhythms of a Lark, but just delayed by a couple of hours. Larks and Middle Birds experience peak cognitive alertness in the two hours after they are fully awake, which for most of us is between the hours of 9am and midday. We then experience a dip after lunch and get second wind in the late afternoon. Owls are pretty much the opposite. So the key to being productive throughout the day when you’re working from home is to design your workday around your chronotype. Here are three ways that you can start to align your workday to your chronotype.
Schedule ‘deep work’ at your peak In his book Deep Work, Georgetown University professor Cal Newport writes about two modes that knowledge workers can be in. The first type of work is ‘deep work’, defined
and doing administrative work – basically, anything that is non-cognitively demanding. The problem with the way most people structure their workday is that it tends to be random and sporadic. We flit mindlessly between shallow and deep work. To turbocharge productivity when you are working from home, Larks and Middle Birds need to schedule deep work for before lunch. And ideally, during this time notifications that lure us into shallow work need to be switched off. Owls, in contrast, get their best deep work done at night, which can be handy for those who are parents, as this is when kids are hopefully fast asleep.
Schedule and ritualise deep work While the intent to engage in deep work when your energy is at its peak is fantastic, if you work in a company where co-workers can control your diary, even the best of intentions can fall by the wayside. Rather than cross your fingers for a free morning (or evening, for Owls), block deep work into your calendar. Deep work should be treated as a meeting with yourself. At my behavioural science consultancy Inventium, which is populated mostly by
Larks and Middle Birds, the majority of the team have two- to three-hour meetings with themselves labelled as ‘Deep Work’ almost every morning. Those times are respected by teammates, and the majority of meetings, both internal and external, happen in the afternoon.
Schedule ‘shallow work’ for your dip When we hit our daily dip, which for all chronotypes tends to happen soon after lunch, we often flounder around at work. We get stuck in our inbox or sit passively in meetings, feeling cognitively foggy. And we often beat ourselves up for not firing on all cylinders at this time of day. Instead of fighting it, we need to proactively schedule shallow work for this time of day. The early afternoon is the perfect time to get stuck into your inbox and plough through emails. It’s also a great time to check instant messenger or your Slack feed and return phone calls from the morning. By scheduling shallow work for your dip, the time will not be wasted; instead, you’ll be able to align your least cognitively demanding work with when your brain needs to take it a bit easier. By aligning the structure of your workday to your chronotype, not only will you get more done when working from home but you will get to the end of the day feeling far more energised because you will have matched your activities to your biological rhythms. And for that, your brain will be truly thankful.
Dr Amantha Imber is the founder of behavioural science consultancy Inventium and the host of How I Work, a podcast about the habits and rituals of the world’s most successful innovators.
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FEATURES
MARKETING
The fight for visibility It’s becoming more important for businesses to not only have an online presence but be seen above the rest. Nicola Moras explains how to win at being visible
THE FIGHT to be seen online, to be visible, has never been more fierce than it’s been in 2020. Business owners especially have been somewhat forced to embrace the online world in their marketing and delivery of services. This has meant new learning for many who have relied in the past on local area marketing. Shockingly for some, you’ll note that your potential customers and clients are spending more and more time online. In fact, recent
What you need to determine is how to establish yourself as being different, as a business that can be trusted. There are far too many charlatans who have come out of the shadows and taken people for a ride. As a result, the BS detector that every consumer has these days is on heightened alert and they’re a lot slower to trust. This begs the question: how do you create more visibility when everyone is wrestling for
What you need to determine is how to establish yourself as being different, as a business that can be trusted data indicated that “You’ll probably spend more than 100 days online this year”. That’s almost a third of the year online. For businesses, this is a great opportunity to carve out your patch of dirt on the internet and really own it. This will ensure that you have an audience to market to. It will mean you are able to have a consistent conversation with that audience, and they’ll be more likely to buy from you.
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the click, the comment, the like and the share? Follow these five steps so you can win the visibility fight and soar.
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Assume the position of industry leader
Confidence breeds confidence, and you know it! You’ve seen people online, and you have felt drawn to them. You may not know exactly why, but you have been. This is
usually because someone who is confident in what they’re saying and sharing is magnetic. When you assume the position of an industry leader before you even begin to dial up your visibility efforts, everything else becomes easier to implement. You’ll have more confidence to show up and do what needs to be done.
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Show what makes you different This is not about your unique selling proposition. This is where you
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coffee mums and corporate career chasers. The more specific you can be about who you want to be visible to, the easier it is to get on their radar. When you know exactly who your niche is, you can start to create content specifically for them. For instance, if you know your niche is a 35-year-old woman with two children who hates her body, your business may provide a total workout and meal plan solution that has her falling in love with her body post-children, without feeling stressed and overwhelmed. Or if your niche is a 43-year-old man who now has time and wants to start a hobby making wooden rocking horses but he’s having trouble knowing how to set his shed and equipment up, you can create content for him specifically. When you know who your audience is, you’ll get results faster. They are likely to joke that you have cameras in their house! (Yes, this is a good thing. Just don’t go installing any cameras!) You’ll be inside their heads and they will love this.
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need to determine what makes you different as people. If you’re a solo entrepreneur, this is going to pretty easy, because you are what makes you different to everyone else. For those of you with larger-than-you businesses, you and your team are what make you different. Take stock of your history, your stories that you interlace through all that you do, and why you exist. It’s ever so important to share these online on your pages and websites. As people are slow to trust these
days given the sheer volume of fraudsters, when you start sharing your stories and what makes you different, it helps your audience see you as a company they can trust. This is because they start to see the human behind the logo.
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Own your niche
When it comes to visibility online, you do not need to be visible to everyone. You do not need to appeal to the teens and the silver foxes as well as the
Be consistent and persistent
Visibility takes time, but when you are consistent with your efforts, it will pay off. Be aware that you have to play the long game with visibility growth as well as the short game. This is not dissimilar to joining a gym. You have to keep going to the gym to achieve results. Haphazard attendance will reap haphazard results. Create different types of content and share it multiple times daily. You’ll be visible in no time.
Nicola Moras is an online visibility expert and the author of Into the Spotlight, a guide to help you step up your online visibility, become a rock star in your industry, and make your business thrive.
www.mpamagazine.com.au
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PEOPLE
BROKERAGE INSIGHT
A team culture built on diversity Speaking four languages between them, this mostly female brokerage knows that culture and inclusion are key to a successful business. Founder and managing director Renee Tocco tells MPA how she is adapting her business in response to COVID-19 and maintaining a focus on her team BORN IN SOUTH AFRICA, Renee Tocco recognises the value of diversity. And as a female broker, when she attended her first business finance PD days in Australia, she remembers being one of only three women in a room of about 100 people. That’s why diversity and inclusion are a strong part of the culture at Loanezi. Among its eight staff members are those fluent in Arabic, Korean, Afrikaans and Filipino. The team was all female until recently, having just been joined by a new male employee. Tocco founded the brokerage in 2016 after identifying a gap in the niche market of ICT asset finance while in an executive
position at Telstra. She began the process to become a finance broker, self-funded her business and turned a profit within the first six months of trading. SMEs make up Loanezi’s primary client base, but two years ago the brokerage diversified into personal loans, and this is the area that much of the business has focused on since the onset of COVID-19. Recently, it began working in the larger commercial space of asset finance as well. “The downturn in our core business as a result of COVID forced us to put in place growth strategies that I have been planning for a while,” says Tocco. “In hindsight, I am
HELPING YOUNGER BROKERS SUCCEED The Commercial Lending Young Professionals group was formed after broker Max McFarlane approached the board of the Commercial and Asset Finance Brokers Association of Australia about the increasing age gap in the industry. It launched in September 2019 with a series of networking events to connect and support young finance professionals working in or looking to work in the commercial lending space. “When we bring minority groups together, we see something awesome occur; friendships, networks and all of this leads to helping these persons be more resilient and more likely to succeed in the industry,” said Loanezi MD Renee Tocco at the time.
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sure this will end up being a crossroads and a blessing as we are now in the position to do all types of finance. We do not turn away any business as we can truly offer an end-to-end solution for our business and consumer clients.”
Focusing on the future As the industry continues to face into the next few months of uncertainty with the second wave of COVID-19 making an impact, Tocco says Loanezi will remain focused on strengthening these new arms of its finance business. While this emphasis on keeping the business strong and profitable through a diversity of products is important, Tocco adds that it’s also vital to have a happy team. To achieve this, she makes sure she not only hires the right person for the job but the right cultural fit for the team. As an immigrant and a female, she recognises the need for diversity within teams, as well as in the broking industry more widely, to better service the society we live in. She was shocked to see how few females there were in the industry when she first joined, but she says she was supported by her aggregator, Connective, in building networks and feeling like part of the team.
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FAST FACTS
“When we bring minority groups together, we see something awesome occur: friendships, networks and all of this leads to helping these persons be more resilient” “My love for people from all walks of life, and ability to network and form lasting relationships, is what I believe has led me through a highly successful career path and ultimately equipped me with the resources and skills needed to start Loanezi,” she says.
Getting the message out there Tocco says it’s been great to see the increased focus that the industry bodies and aggregators are placing on the need for diversity, adding that it is particularly important in the commercial lending space, which is much more dominated by Australian males than the mortgage sector.
As a member of the Commercial and Asset Finance Brokers Association of Australia, Tocco has been part of its push for equality and has used the platform to lead the charge. Alongside other members and advocates, she has helped organise events like the Women’s Forum and the Commercial Lending Young Professionals initiative. “We need more equality and female brokers, we need more culturally diverse brokers, and we also need to attract younger people into the industry,” she says. “Finance brokers need to be recognised as a profession by the young people of Australia. We need to get the message out there at the
Company: Loanezi Managing director: Renee Tocco Location: Gold Coast Year founded: 2016 Services offered: SME lending, asset finance, personal loans
early school-leaving days when the young adults are looking for career options and education pathways to their future.” Beyond simply building a diverse workforce, inclusion, too, is a key factor. “We need to all give each other a leg-up when we can and ensure newcomers are welcomed and supported,” Tocco says. “When you have a network, friends in the industry and feel welcome, you will have higher resilience and a better opportunity to succeed.”
www.mpamagazine.com.au
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PEOPLE
OTHER LIFE
TELL US WHAT YOU GET UP TO Email rebecca.pike@keymedia.com
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Age at which Katie Dowton went travelling
3
Number of countries she visited
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Number of days she spent trekking
TRIP OF A LIFETIME Mortgage Choice broker Katie Dowton tells of her incredible trip to South America
K atie Dowton says her experience of travelling was hu mbling a nd helped her to realise how little it takes to be truly happy
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WHEN ALL her friends were travelling to Europe, Mortgage Choice loan consultant Katie Dowton decided to head off on her first solo overseas trip to South America instead. She had been saving for a house, so her budget was much smaller, but that didn’t mean she had to have less of an experience. The Central Coast broker travelled to Chile, Peru and then Colombia, doing a number of treks, including the Inca Trail to Machu Picchu. Dowton’s favourite experience was also arguably her most challenging. In Colombia, she did the Ciudad Perdida trek: a four-day trek through the jungle when the weather jumped between hot and humid to torrential rain and back again. Walking all day, from sunrise to sunset, through rivers, waterfalls and mud, to get to the group’s next camp, her feet were blistered from the wet walking boots; she says she almost thought she wouldn’t make it. “It was nothing like I had expected it to be, but it was so rewarding and, not to sound cliché but I am a completely different person after it,” she says. “I feel like it really forced me to step outside of my comfort zone and build my self-confidence, which has helped me in my work and dealings with clients, as well as developed my independence.”
www.mpamagazine.com.au
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