Recorded calls revealed multiple instances of exceeding authorised scope with clients
The Fair Work Commission (FWC) recently dealt with an unfair dismissal application involving a bank relationship manager who was terminated for providing unauthorised financial advice to customers.
The case arose when the worker failed to follow proper procedures during recorded phone calls with retail customers, leading to findings that serious misconduct justified dismissal despite the worker's claimed good intentions.
The worker maintained that her conduct was caused by a lack of training or supervision, and that she was genuinely trying to improve her performance and help the bank succeed.
The employer contested the unfair dismissal claim, arguing the worker engaged in serious compliance breaches that violated banking regulations and internal policies.
The financial institution maintained that the worker deliberately ignored directions from management and provided financial advice beyond her authorised scope, creating regulatory risks.
The employment relationship involved an executive relationship manager whose role required speaking with retail customers about potentially becoming accredited investors, with strict regulatory requirements governing such interactions.
The position demanded adherence to specific procedures and warnings to protect customers who have fewer legal protections as accredited investors.
Investigation of recorded...
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