NAB releases self-assessment into governance, accountability and culture
NAB has today released its self-assessment into governance, accountability and culture.
At the request of APRA, NAB commenced its self-assessment in June 2018 following the regulator’s Prudential Inquiry into the Commonwealth Bank of Australia.
The self-assessment identified many strengths in NAB’s processes, however shortcomings were also identified in certain aspects of NAB’s approach to non-financial risk management, with particular focus on operational, compliance and conduct risk.
In response, a clear set of actions have been identified. NAB will implement all 26 actions arising from the self-assessment, with a number already underway through NAB’s three-year transformation program.
The self-assessment into governance, accountability and culture is available below and in the ‘Self-assessment 2018’ tab of NAB’s Corporate Governance website.