20 April 2023

FSU welcomes RBA review focus on staff and workplace culture

The Finance Sector Union (FSU) has today welcomed the review into the Reserve Bank of Australia and its focus on cultural change.

Commenting on the review, FSU National Secretary Julia Angrisano said that the reviews findings were timely.

“As a stakeholder in the RBA, the Union welcomes the focus on staff, leadership, and change management.

“In particular we note the review finding that the hierarchical culture at the RBA has led to staff feeling disempowered and that concrete steps are needed to ensure the organisation is more welcoming of diverse viewpoints.”

Ms. Angrisano said it was significant that the report found that one of the factors holding back institutional change was that the RBA’s leaders have not displayed behaviours necessary to enact feedback.

“This is an all-too-common situation in a number of our major financial institutions,” Ms. Angrisano said.

“We believe separating responsibilities with the dual board structure that has been recommended by the review will provide a stronger focus on staff and workplace culture issues and ultimately lead to better outcomes for our members”.

“We will commence bargaining with the RBA later on this year and we look forward to engaging in future discussions about workplace issues that should now happen as a result of this review.”

Media contact Phil Davey 0414 867 188

Authorised by Julia Angrisano, National Secretary