Australia's leading bank, National Australia Bank (NAB), has decided to offshore its 41 back office finance jobs to India by the end of this year.
MELBOURNE: Australia's leading bank, National Australia Bank (NAB), has decided to offshore its 41 back office finance jobs to India by the end of this year.
Confirming that NAB is planning to offshore the jobs to Bangalore by the end of this year, bank's corporate affairs manager Kerrina Lawrence, said, '41 back office finance roles will be transitioned outside of the company by the year's end.'
The offshoring of jobs, which the Finance Sector Union of Australia (FSU) said will affect 90 employees of the bank's wealth management finance division in Sydney, 'The Age' newspaper said on Thursday.
But, Lawrance said, it was not known how many employees would be affected by the change.
Elaborating the bank's stand in case of people affected by offshoring, she said, "NAB has a very strong ethos to re-deploy and re-train staff. Wherever possible we want to find opportunities for the people when change impacts them. That's been the case for some years."
FSU policy and communications manager Rod Masson claimed with the latest announcements, NAB's tally of jobs offshored pass the 500 mark, a claim that bank disputes.
"That number is incorrect, it's not 500," Lawrence said, adding the bank had added 700 jobs in the past year.
"NAB has, in the last couple of years, progressed the number of back office or on-call jobs that are suited to outsourcing," she said.
Masson, asking for a debate on offshoring trend in the finance and service industries, said, "The jobs being lost today are highly skilled accountancy, financial and taxation reporting jobs."
"They are value-adding functions and as a country we should be looking at investing in these skills, not flogging them off overseas to the lowest bidder," he said.
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