Westpac: Spotlight on Risk Governance Remediation and Weaknesses in Liquidity Management

DBRS Morningstar has released a commentary discussing risk governance shortcomings at Westpac. Addressing non-financial risks continues to be an important challenge for Westpac Banking Corporation. On 3 December 2020, Westpac confirmed it has entered into an enforceable undertaking (EU) with the Australian Prudential Regulation Authority (APRA) on risk governance remediation.