Priya Jaiswal is a recognized authority in Banking, Business and Finance, with extensive expertise in market analysis, portfolio management, and international business trends. This interview explores recent leadership changes and strategic transformations within prominent financial institutions.
What motivated Westpac to appoint you as Chief Transformation Officer?Westpac likely appointed me due to my extensive experience in transformation and operational leadership. My background at HSBC, where I managed retail banking and wealth management across a significant region, positioned me well to drive large-scale changes within Westpac.
Can you elaborate on your experience with HSBC and how it prepared you for this role?At HSBC, I was responsible for large operations in Asia, focusing on retail banking and wealth management. This experience helped me understand various markets and lead large teams, ensuring seamless operations while implementing technological advancements. These skills are crucial for leading Westpac’s transformation.
What are the main objectives of the UNITE program at Westpac?The UNITE program aims to simplify technology systems and improve operational efficiency. By reducing the number of technology systems from 180 to fewer than 60, we plan to streamline processes and enhance customer experiences, ultimately driving better business outcomes.
How do you plan to streamline technology systems from 180 to fewer than 60 by FY2028?We will adopt a phased approach, consolidating processes and leveraging advanced technologies. This involves integrating systems, automating processes, and fostering a culture of continuous improvement. Collaboration with technology partners will also be key.
What challenges do you anticipate in this transformation process?Some of the main challenges include managing stakeholder expectations, ensuring data security during transitions, and maintaining service quality. Change management and obtaining buy-in from all levels of the organization are also critical components that we will need to address.
What attracted you to join Zip Co as the ANZ Chief Executive?Zip Co is at an exciting juncture of growth and digital innovation in the payment sector. The opportunity to lead and make a significant impact in a fast-paced, customer-focused environment was very appealing.
How will your experience at NAB, particularly in Business Lending Product, influence your new role at Zip Co?My tenure at NAB involved managing large-scale lending products and transforming business processes digitally. This experience will help me in understanding customer needs and driving innovative solutions at Zip Co that cater to the evolving financial landscape.
Can you describe your career focus on driving scalable growth and digital transformation?My career has been centered around leveraging technology to drive growth. I’ve led multiple projects that redefined customer engagement and streamlined operations through digital solutions, ensuring that growth is not just achieved but is also sustainable.
How do you plan to enhance customer experiences at Zip Co?Enhancing customer experiences will involve refining user interfaces, simplifying processes, and incorporating customer feedback into our product development cycle. Prioritizing customer-centric innovations will be at the core of our strategy.
What will be your approach to overseeing Zip Co’s growth agenda in the ANZ market?My approach will involve setting clear goals, fostering a collaborative culture, and deploying strategic initiatives that align with our growth objectives. We will remain agile, ready to adapt to market changes and continuously seek opportunities for expansion.
What inspired you to join Medibank as its Chief Information and Security Officer?Medibank’s commitment to ensuring robust IT security and my passion for protecting sensitive information inspired me to take on this role. The opportunity to lead and enhance Medibank’s security measures, especially post the 2022 data breach, was compelling.
How did your role at Origin Energy prepare you for this new position?At Origin Energy, I handled IT risk and security in a complex environment, developing robust security frameworks and managing risks proactively. This experience is valuable as I take on the responsibility of leading Medibank’s IT security, ensuring compliance, and mitigating cyber threats.
What are your initial plans for leading Medibank’s IT security, risk, and compliance functions?My initial plans include reviewing current security measures, identifying gaps, and implementing advanced security protocols. Building a resilient IT infrastructure and promoting a culture of security awareness within the organization will be priorities.
Can you discuss the significance of Medibank’s cyber uplift program following the 2022 data breach?The cyber uplift program is crucial for regaining trust and ensuring data protection. It involves enhancing our security posture, implementing stringent data protection measures, and ensuring that all security protocols are adhered to rigorously.
How do you plan to cultivate a culture of continuous learning and innovation at Medibank?Fostering an environment where continuous learning is encouraged is vital. We will provide regular training, promote knowledge sharing, and encourage innovative thinking. Investing in upskilling our teams and staying abreast of the latest security trends will be essential.
What excites you most about your upcoming role as Chair of Acenda?The opportunity to lead Acenda through its next phase of evolution and growth is incredibly exciting. Being part of a newly merged entity with the potential to innovate and deliver exceptional life insurance services excites me.
How will your experience as Chair of the Board Integration Oversight Committee aid in the merger process?My experience in overseeing integration planning ensures that I understand the complexities and nuances of mergers. This knowledge will help streamline the integration process, ensuring a smooth transition and the realization of synergy goals.
Can you share your thoughts on the future of life insurance in Australia and New Zealand?The future of life insurance in these regions is promising, with a shift towards personalized, technology-driven solutions. Insurers need to innovate continuously to meet rising customer expectations and regulatory standards while maintaining competitive edge.
What strategic goals do you have for Acenda post-merger?Post-merger, our strategic goals include enhancing customer experiences, diversifying product offerings, and leveraging technology to improve operational efficiency. We aim to establish Acenda as a leading life insurer known for innovation and reliability.
How will you ensure the company delivers innovative products and services to meet evolving customer needs?We will prioritize customer feedback, invest in research and development, and foster a culture of innovation within the organization. Collaborating with technology partners and continuously analyzing market trends will help us stay ahead.
What are the primary objectives of the Move to NPP program?The Move to NPP program aims to modernize Australia’s payment systems, ensuring they are efficient, resilient, and capable of supporting future digital innovations. This transition will enhance the overall payment experience for users.
How do you plan to address the transition from the legacy BECS framework to the NPP?Addressing this transition involves a detailed roadmap, stakeholder engagement, and continuous communication. We aim to minimize disruptions and ensure a seamless switchover by leveraging advanced planning and collaboration with industry partners.
What key challenges do you foresee in building awareness and mobilizing industry stakeholders?One of the key challenges will be ensuring all stakeholders are aligned and adequately prepared for the transition. Building awareness through comprehensive education and information programs will be crucial in overcoming resistance and ensuring participation.
Can you elaborate on the importance of safety, resilience, efficiency, and competition in this transition?Ensuring safety and resilience is paramount to maintaining trust in the system. Efficiency improvements will streamline operations while fostering competition, driving innovation, and better services. Balancing these elements ensures a robust and future-proof payment landscape.
How will you use your background in financial services regulation to inform your leadership on the committee?My background provides a deep understanding of regulatory compliance and best practices, which will guide our strategic decisions. Ensuring the Move to NPP program adheres to regulatory standards and promotes fair competition will be central to our approach.
Do you have any advice for our readers?My advice is to embrace change and continuous learning. The financial services industry is rapidly evolving, and staying informed about new technologies and trends is crucial for success. Always be proactive in seeking growth opportunities and adapting to market shifts.
