A role within risk is not
just about numbers, it is
about striking the balance
between protecting and
optimising our business.”
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12 months; 3 x 4 month rotations
Managing the Risks
Effective risk management sets the Westpac Group apart from our competitors and gives us the edge we need to be one of the world's great companies. It is about striking the right balance between protecting and optimising our business. Risk professionals protect the bank against unexpected loss, develop control frameworks and manage regulatory, compliance and other risks.
It’s an exciting time to be a risk graduate with diverse opportunities to gain exposure to credit risk, operational risk, fraud and financial crime management, technology risk, risk analytics, risk reporting, risk governance, and regulatory relationships.
Why join us?
A lot of people think risk is all about numbers, that's an important part of it, but it's not the only piece. We support a strong and risk aware organisation through expert advice, constructive challenge and innovative solutions. We develop relationships, build trust and help solve problems. Numbers are only part of it.
Within the risk program, we offer two distinct streams for you to choose from based on your skills and interest:
- If you have strong quantitative aptitude and problem solving abilities then you should consider the Quantitative Risk Management Graduate Program. We consider graduates from (but not limited to) the following degrees; Mathematics and Statistics, Actuarial Studies, Computer Science, Physics, Engineering and Quantitative Finance.
- If you are a graduate from any degree disciplines and are articulate, detail focused and confident in building relationships and communicating with our diverse customers and employees then you should apply to Generalist Risk Management Graduate Program.
Your graduate journey
Quantitative Risk Management Graduate Program:
You will rotate between model development, model validation and analytics teams to develop valuable experience and build your network. In the past graduates have successfully worked on:
- Credit risk estimate models including probability of default models, survival models, loss given default and exposure at default.
- Stress testing and econometric modelling.
- Loan loss provisioning models.
- Portfolio analysis designed to optimize business process and risk management outcomes.
- Reviewing Financial Markets and Treasury spreadsheets for Value-At-Risk back testing to improve the robustness and functionality of these models.
- Independent validation of models.
Generalist Risk Management Graduate Program:
You'll rotate through different risk teams to build your experience and grow your network. In the past graduates have successfully worked on projects such as:
- Developing a business risk report, gaining a solid understanding of key credit risk metrics, and how end users make insightful decisions around credit.
- Analysing risk management settings for mortgages, credit cards, personal loans or transaction facilities, and implementing changes to optimise customer outcomes.
- Creating a monitoring framework that provides an overview of Westpac's sanctions obligations and its monitoring protocols to ensure current controls are being performed effectively.
- Determining the risk/control matrix and procedures to support a new regulatory standard for liquidity risk, developing skills in interpreting prudential standards and the application of these to banks products and balance sheet management.
- Implementing regulatory change initiatives and working with the business to ensure new requirements are understood, complied with and embedded into risk and compliance plans.
See your career take shape
Past graduates from the Generalist Risk Management stream have been successful in securing permanent roles such as Retail Credit Analyst, Operational Risk Incident Analyst, Regulatory Analyst or Liquidity Risk Analyst.
Past graduates from the Quantitative Risk Management stream have been successful in securing permanent roles such as Quantitative Analyst, Model Validation Analyst, Portfolio Risk Analyst or Fraud Data Analyst.
Meet Neena, 2016 Graduate
Why did you choose a Graduate role at Westpac Group?
I have always been particularly interested in credit risk, banking and the wider economy. Westpac being the oldest Bank in Australia was the ideal place to work at as I would get the opportunity to work with some of the best and most experienced professionals in the industry.
What are your 3 pieces of advice for a student applying for a graduate role?
Be genuine, ensure you are well researched about the organisation, and try to differentiate yourself from the rest of your candidates – find your unique selling point!
Why would you recommend this graduate program?
The Risk Graduate Program gives you a great range of opportunities to learn about the different types of risk the Bank manages, and get involved with other extra-curricular work outside your day job. Risk allows me to work with both numbers and people which is what I tend to enjoy and allows me to work on a variety of different tasks.
What does a typical day as a grad involve?
It changes every day! But I generally ensure I include time to network with other professionals and also take the opportunity to work across multiple teams and projects. I enjoy the flexible working environment that Westpac provides and the exposure I receive to numerous parts of the business which has allowed me to find out what I am passionate about.
How have you developed across your graduate year?
The Westpac Risk Graduate Program provides an extensive range of career development resources such as a Mentor, Graduate Manager, access to senior risk leaders, training sessions throughout the year to help develop your business knowledge and career development days, just to name a few!