Our Commitments
Living our vision and values
CEO Message
Our vision is to excel at
securing and enhancing the
financial wellbeing of people,
businesses and communities.
It recognises the important role that
the Commonwealth Bank has in the
economies and communities in which we
operate and inspires us to do our very best
for the benefit of all our stakeholders.
To achieve our vision we must earn
and keep the trust of our customers,
shareholders, regulators, suppliers,
colleagues and the many communities in
which we operate.
Trust is CBA’s most important asset.
As we strive to achieve our vision, the
trust our stakeholders have in us will be
strengthened. In turn, this will help us
ensure CBA continues as a sustainable
and successful organisation.
Our stakeholders’ trust in us rests on our
honesty, capability and genuine concern
for their financial wellbeing. Our vision
and values, combined with the common
principles for our roles set out in this
document, are the framework to guide our
decisions and actions to this end.
We must always act according to our vision
and values. If we all do, we can have a
consistent, positive impact. Conversely,
if only a few of us fail to live up to these
expectations, this can undermine the
actions of the majority who do.
Our Commitments | Living our vision and values | January 2017
By embracing Our Commitments,
we all give a personal undertaking to
demonstrate our vision and values, and to
adhere to common principles in performing
our roles and conducting ourselves in a
manner that strengthens trust.
Our Commitments can help you make
the right decisions. Your decisions can be
shaped by two important questions:
• Can we do this – does it comply with
relevant laws, regulations and policies?
• Should we do this – is it aligned to our
vision and values?
The first question usually has an
objective, if sometimes complex answer.
In answering the second, we should
be thoughtful and compassionate in
evaluating the best way to demonstrate
our values of integrity, accountability,
collaboration, excellence and service.
If you are ever unsure about what decision
to make, ask someone for help – your
manager, expert colleagues or other
leaders.
Every day I see positive examples of
colleagues living our values and enhancing
our stakeholders’ trust. If we all do this, all
the time, we can together build on CBA’s
proud history and achieve our vision.
Ian Narev
Chief Executive Officer
Commonwealth Bank Group
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Our Commitments
This document, “Our Commitments”, is the foundational policy and guiding
framework for performing your role. It sets clear expectations for engaging
with and balancing the interests of our stakeholders: customers, shareholders,
regulators, suppliers, colleagues and the communities in which we operate.
It also includes our expectations for when you represent Commonwealth Bank
of Australia (CBA).
Our Commitments should inspire you to perform at your best and seek to achieve our vision
and live our values. You are required to comply with Our Commitments both when you are at
work and beyond to the extent your behaviour could damage CBA’s reputation or interests.
This is important because our stakeholders may see you as representing CBA even when you
are not at work.
Your actions can have a significant impact on our stakeholders and the trust they place in us,
and affect your colleagues and how they live our vision and values. Throughout your time at
CBA it is an essential requirement that you and each of your colleagues commit to and comply
with the following common principles:
I commit to uphold the guiding framework of our vision and values
I commit to uphold:
• Our Vision: to excel at securing and enhancing the financial wellbeing of people,
businesses and communities
• Our Values: integrity, accountability, collaboration, excellence, service
• Values Guidelines: see page 8 of this document
I will use the Values Guidelines to ensure I understand, practice and demonstrate our
vision and values in my role. I will work with and support my colleagues to comply with Our
Commitments, live our values and to achieve our vision. If I am ever unsure of which decisions
to make or how our vision or values apply to me or my work, I will ask my manager or other
leaders for guidance.
I commit to honesty
I will be honest and demonstrate integrity in every aspect of my work and whenever I
represent CBA, including in balancing and fulfilling customer, shareholder, colleague and
other stakeholder needs. I recognise this is essential to our stakeholders’ trust in us. I will be
straightforward in how I create, improve and talk about our products and services; thorough in
how I manage risk; and transparent in the way I provide necessary information on our business
whilst also maintaining my commitment to confidentiality.
I will express to my colleagues, manager or other leaders my full and truthful views, positive or
negative, on CBA’s business, practices and policies and their effects upon our stakeholders.
I will quickly and openly acknowledge my mistakes and talk to my manager about them.
Our Commitments | Living our vision and values | January 2017
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To support our performance framework, I will respond to appropriate requests for feedback on
my colleagues’ demonstration of our vision and values with honest, fact-based input.
I understand that dishonesty conflicts with our vision and values. I will be vigilant in identifying
and reporting any knowledge of dishonesty, fraud, breach of policy or law, concealed practices,
errors or risks that may affect CBA or our stakeholders. I understand that any legitimate
concerns I raise will be taken seriously and, upon request, will be treated in confidence.
I commit to maintaining confidentiality
I understand that when I act on behalf of customers, shareholders, colleagues or other
stakeholders in my role, they trust me to protect their valuable property, including their personal
and other information. I will treat their and CBA’s information in confidence, respecting CBA
and our stakeholders’ trust. I will not use this information for inappropriate purposes or personal
gain, or allow unauthorised access to it.
I will only engage with regulators or the media, or make public statements about CBA, if
required and authorised. If so, I will comply with relevant policy and only use verified, accurate
and authorised information.
I am bound by this commitment to confidentiality even if I leave CBA.
I commit to disclosing and managing conflicts of interest
I understand that a conflict of interest arises where my personal interests, or those of someone
close to me, conflict with the interests of CBA or our stakeholders. This could include the misuse
of information obtained in my role, being influenced by personal relationships with customers,
suppliers or colleagues, accepting gifts or hospitality from third parties or where I, or someone
close to me, may stand to benefit from a transaction between CBA and another party.
I recognise that conflicts of interest could harm our stakeholders’ trust in CBA.
I will avoid actual or potential conflicts wherever possible. If any conflict arises or could be
perceived, I will disclose it to my manager, ensure the conflict is appropriately managed in ways
consistent with all other relevant policies and that I have permission to continue before I act.
I will not use information obtained during my work for my own benefit, for those close to me or
for other purposes not connected with my role and duties.
I commit to appropriate use of technology and communications
I commit to using CBA technology and communications in my role for business and limited
personal uses in an appropriate way, not in an offensive manner and consistently with the law,
our values and all policies. I will only transmit confidential or customer information by using CBA
technology and communications, when I am expressly authorised to do so and in compliance
with CBA’s security protocols. I will not allow unauthorised access to any CBA information,
systems or assets.
I recognise that my use of social media can reflect on me personally and professionally and also
reflect on CBA. If my use of social media could be connected to my employment with CBA, I will be
responsible for its appropriateness, demonstrate respect for the people and communities I interact
with and be clear I am representing only myself unless the content is properly approved in advance
by CBA. I will act in accordance with CBA’s social and other media policies at all times.
Our Commitments | Living our vision and values | January 2017
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I commit to operating in a safe and inclusive manner
I commit to treating customers, shareholders, colleagues, suppliers and other stakeholders fairly
and with respect, regardless of gender, culture, belief, sexual identity, disability or age. I will
uphold CBA’s high standards of workplace conduct and our commitment to eliminating unlawful
discrimination, harassment, bullying and victimisation.
I will also take appropriate care for the wellbeing, health and safety of me, my colleagues and
our stakeholders, including only allowing authorised access to Group premises. This includes
taking part in safety awareness learning and hazard and risk management, including reporting
any safety, health or wellbeing concerns immediately. When working, regardless of location,
I will comply with CBA’s policy relating to alcohol and drugs.
I commit to maintaining personal standards that support our vision and values
I understand that our stakeholders’ experience with us in and beyond our workplace shapes
their view of and trust in CBA and our values and impacts our reputation. I commit to
contributing positively to this by maintaining personal standards, behaviours, finances and
relationships at work and beyond (where my actions could impact CBA’s interests) in ways
consistent with our vision and values, which protect and enhance CBA’s reputation and which
maintain my ability to perform my role.
I will do my best to manage my personal finances in a prudent manner and take care not to
over commit myself. If I am experiencing any personal or financial difficulties, I know I am able
to raise these with my manager and discuss support which may be available through Employee
Assist or other external programs. I will inform my manager if I am involved in any bankruptcy or
similar action, or am in serious financial or other difficulty which could impact the performance of
my role.
I will abide by CBA’s zero tolerance to bribery, corruption and facilitation payments and I will
comply with relevant CBA expense policies.
I commit to understanding and fulfilling all aspects of my role
I will meet all requirements of my role to the best of my ability, including complying with all laws,
general and specific CBA policies applying to my role, management directions, training and
certification requirements, and exercising the appropriate authority of my role. This also means
meeting customer needs and only offering appropriate products and services for which I am
appropriately authorised and trained.
External roles or appointments may affect my capacity to perform my role at CBA. I will only
hold external employment, directorships or honorary positions in clubs, charities or community
organisations or stand for political or public office if there is no conflict with or adverse effect on
my duties or CBA’s reputation. I will obtain my manager’s written approval before seeking or
accepting any such external roles.
Our Commitments | Living our vision and values | January 2017
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Deciding your actions
Making the right decisions individually and collectively is essential to secure the
trust of our stakeholders, and to enable us to realise our vision.
To help you demonstrate all aspects of our vision and values, when you make decisions in your
role, use the process below to help you answer two key questions:
• Can we do this?
• Should we do this?
Consult your Manager,
Risk or Legal
Consult your Manager or MOR, HR Partner
or Group Customer Advocate
UNSURE?
UNSURE?
CAN WE DO THIS?
Does relevant law, regulation or policy allow it?
YES.
SHOULD WE DO THIS?
Is it aligned with our vision and values?
NO.
NO.
Don’t do it.
Don’t do it.
Our Commitments | Living our vision and values | January 2017
YES!
GO
AHEAD
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Your responsibility to uphold
Our Commitments
Our Commitments contains fundamental and common principles which are
critical to us achieving our vision and living our values. It is a CBA policy which
is essential for every role and one with which all employees must comply.
You are accountable for your individual commitments and actions, and should
support your colleagues in upholding their commitments. Failure to comply with
Our Commitments is serious and may have various consequences, including
disciplinary action and dismissal.
Contributing your ideas and expressing any concerns are both critical to our vision and values.
You are encouraged to share your input on any topic in a genuine way and in good faith. If you
don’t think you can uphold Our Commitments, or you see others failing to uphold theirs, you
should discuss your concerns with your manager, other leaders, your HR partners or Group
Security.
If you are uncomfortable going through these routes, it is still very important to raise any issues
you may have. In those circumstances, you should use the SpeakUP Hotline:
• to seek advice or raise issues that affect your role or your wellbeing at work
• to raise concerns about activities you believe are inconsistent with our vision, values or Our
Commitments, or which are potentially damaging to our stakeholders or CBA
• with confidence that any legitimate concerns you raise will be taken seriously and, upon
request, will be treated in confidence.
The SpeakUP Hotline is an external service available 24 hours 7 days a week staffed by
independent consultants qualified and equipped to respond. Further details on CBA intranet.
Contact details
Inside Australia: 1800 773 258 (1800 SPEAKUP)
Outside Australia: + 61 2 8295 2944
Email: [email protected]
This policy may be subject to change from time to time at CBA’s discretion. It does not form part of
any employee’s contract of employment or any industrial instrument that may apply. Where another
document refers to the Statement of Professional Practice, or an obligation to comply with it, that
reference should be read as a reference to Our Commitments.
Our Commitments | Living our vision and values | January 2017
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• I make timely and effective decisions with appropriate input from others
Team Leader
• I lead the business like I own it
• I help people see and reach their potential
• I appreciate great contributions from others
Team Member (Everyone)
• I get the basics right first time
• I take the initiative to achieve better,
simpler outcomes
• I set high service standards for my team and share best practice
• I care about understanding and meeting
customers’ needs
• I coach and encourage others to deliver exceptional service
• I provide clarity on balancing different stakeholder interests
• I help others
• I represent CBA well at all times
Team Leader
Team Member (Everyone)
• I expect and celebrate great work
• I prioritise Group outcomes over Business Unit goals
• I work with others to get the best outcomes
• I do my best
• I encourage diversity of teams and points of view
• I manage performance and behaviour consistently
and constructively
• I take ownership and follow up
• I listen, speak and act respectfully
• I set clear expectations of each person and the team
• I understand and deliver what is expected of me
Team Leader
Team Leader
Team Member (Everyone)
Team Member (Everyone)
• I engage my team on what the values mean for us
• I express my ideas or concerns
• I make hard decisions when I need to
• I take action when issues are raised
• I do the right thing
• I acknowledge mistakes, escalate them quickly
and learn from them
• I encourage people to speak openly and honestly
• I am trustworthy
22225 A/0316
Our vision: To excel at securing and enhancing the financial wellbeing of people, businesses and communities.
Service
Excellence
Collaboration
Accountability
Integrity
Team Leader
Team Member (Everyone)
VALUES GUIDELINES.