Next week, your union will represent you at the ILO global forum on the impact of the global financial crisis on finance sector workers, and at the UNI Finance G20 workshop following the forum.

The global forum will explore the impact of the global financial crisis, the scale and likely duration, and how governments, employers and unions can help finance sector workers cope.

Locally, we have continued to see knee-jerk job cutting, finance jobs heading offshore, and increased pressure on workers as a result of targets, understaffing, not enough relief staff, long hours and increased workload.

Your union argues that there must be a better way forward for our industry and that the time is ripe for changes to be made that both build confidence in the professionalism of our industry, respond to community concerns and recognise and invest in staff. 

As part of the challenge of building a better finance industry, we are talking to members about the need for our employers to invest in Australian jobs and skills rather than using the GFC as an excuse for profitable companies to cut staff or offshore jobs.

FSU is conducting a number of staffing audits across the retail networks of our major banks to quantify the staffing and relief problems and to get employers to genuinely address understaffing.

FSU members have also endorsed the Charter of Responsible Lending and we are talking to employers and the Government about how this can be implemented to reduce the reliance on sales targets and promote professionalism in financial services.

In accord with what has been identified as a major cause of the behaviours that have brought about the GFC, your union is also advocating for changes to remuneration models that continue to reward short term, risky behaviours.

It’s a big agenda. It’s about saving jobs, building skills and making our industry a better place to work.

If the global financial crisis offers us anything, it is the opportunity for us to build a better finance industry. That’s the message FSU is taking to the ILO next week.