Our Approach to Ethics & Risk Governance
WestOffshore is an Authorised Deposit Taking Institution (ADI) supervised by the Australian Prudential Regulation Authority (APRA) under the Banking Act 1959. BOS is also supervised by the Australian Securities & Investments Commission (ASIC), Australian Transaction & Reports and Analysis Centre (AUSTRAC) and other government agencies.
At WestOffshore we recognise that we have responsibilities to all of our stakeholders, including, but not limited to:
- Communities in which we operate
- Suppliers & Contractors
- The Environment
Accordingly, West Offshore is committed to the highest standards of corporate governance and we continually review our governance practices. This ensures full compliance with legal requirements and ensures our business model is aligned to the constant change that occurs within the external environment of which we operate. Our approach to corporate governance aims to achieve superior customer satisfaction through the execution of our core values of:
Our Board of Directors and staff are responsible for upholding the goals and values to which we aspires.
Our corporate & risk governance structures have been developed to support our customer- focused operations while providing clear guidance on how authority is exercised at the Bank, including Board oversight of key controls. The Board, with the assistance of delegated Board Sub-Committees of Risk, Remuneration & Audit determine the most appropriate corporate governance practices.
West Offshore Board delegations and committee charters are regularly reviewed.