Consumer operations chief takes on financial crimes for Westpac

Westpac has appointed former consumer banking chief operations officer Les Vance to a new role, as group executive for financial crime, compliance, and conduct.

Vance has more than 25 years of experience in financial services, joining Westpac in 2008. He was the chief risk officer for BT Financial Group and has held technology, business partnership, and corporate counsel roles. He's also held executive roles at Investa Property Group, TAB Limited, and Racing NSW.

"Les is a thoughtful and energetic executive who will bring a forensic approach to improving and strengthening Westpac's financial crime and compliance management," said Westpac Group CEO Peter King.

"Westpac has made significant progress in improving its financial crime capability and I am confident Les will continue to build on this platform of work. His deep understanding of the bank and risk management will help us further strengthen our management of non-financial risk. Les will bring his considerable experience, knowledge and integrity to his new role."

Late last week Westpac filed its defence in the AUSTRAC money laundering case, writing, "Westpac accepts the gravity of the issues raised by the AUSTRAC claim and has made a large number of admissions in its response to the Statement of Claim."