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Rabobank New Zealand Limited (Rabobank) has an effective Fair Conduct Programme, as required under the Financial Markets Conduct Act 2013. Our Fair Conduct Programme details all of the policies, processes, systems and controls that support the fair conduct principle to treat our clients fairly.
The fair conduct principle to treat clients fairly applies in everything we do, but most importantly in the following situations:
1. When we are designing any product or service.
2. When we are offering to provide any product or service.
3. When we provide any product or service to a client.
4. When we have any dealings or interactions with a client in connection with any product or service.
At Rabobank, Treating Clients Fairly is placing our clients’ interests at the heart of our decision making. It's the way we operate in delivering fair and transparent outcomes for our clients and communities.
We put clients at the heart of all we do by operating under a set of principles, as outlined below:
Our Fair Conduct Programme has been created to be relevant and proportionate to Rabobank reflecting the unique factors and characteristics of our business. Our Fair Conduct Programme is a continuous programme of work that applies across our business and is subject to ongoing regular revision.
The governance of our Fair Conduct Programme is as follows:
Monitoring compliance with our Fair Conduct Programme is crucial to ensuring its operational effectiveness. To achieve this, we adhere to all frameworks, policies, processes, systems and controls that are relevant. We have also developed risk assurance programs and monitoring cycles, which include regular reporting to our management, committees, and Board.
Our Fair Conduct Programme supports Rabobank’s compliance with the fair conduct principle to “treat clients fairly” whenever we are designing, offering to provide, providing, or having any dealing or interaction with a client related to a product or service.
| Agribusiness products | Rabobank Online Savings products |
|---|---|
| All in One Loan | RaboSaver |
| Call Deposits | PremiumSaver |
| Term Deposits | NoticeSaver |
| Foreign Currency Deposit Account | Term Deposits |
| Registered Services | Service Offerings |
|---|---|
| Issuing or managing means of payment | Debit Card Electronic Payments |
| Acting as an offeror of financial products under a Financial Markets Conduct (FMC) offer | Distributing our products to our new and current clients Marketing |
| Acting as an issuer under a Financial Markets Conduct (FMC) offer | Account opening Account maintenance Account closing |
| Changing foreign currency | Foreign currency electronic payments |
We have governance frameworks in place to support the regular review of the design, distribution, management and maintenance of our products and services. This enables us to identify opportunities to enhance and improve our products and services, which are then made available within a reasonable timeframe to clients.
Regular and ongoing review of our products, services and distribution methods ensures that they continue to remain fit for purpose for our clients’ needs and objectives and meet the fair conduct principle.
We are committed to making sure these are accessible and inclusive for all clients, with an additional focus on clients who require extra care due to their personal circumstances. We have a dedicated Customer Resolutions Team that identify and oversee client care and appropriate escalation pathways. Rabobank employees are trained to remember that requiring extra care can happen to anyone at any time, and that this may be permanent or temporary.
Rabobank sets clear expectations for our employees. All employees are responsible for treating clients fairly and complying with the Fair Conduct Programme.
Our Code of Conduct demonstrates what drives us in our work by being client driven, cooperative and professional. It guides our decision-making and actions as it relates to treating clients fairly. Where our employee’s conduct does not meet the standards we expect, we have a framework in place for applying consequences, as well as ensuring we positively recognise employees who go above and beyond.
Our employees are required to complete all mandatory training, including training on our products and services and treating clients fairly as part of their performance management process.
We acknowledge that, from time to time, issues connected with our products and services occur. At Rabobank, feedback matters and we take complaints seriously. We strive to deliver superior service to our clients, and we welcome feedback and complaints. Our employees actively listen to client feedback and acknowledge complaints. This enables us to enhance client outcomes and experiences by learning from mistakes, identifying emerging issues and trends, and continuously improving our products and services.
At Rabobank, complaints and feedback are:
You can make a complaint in one of the following ways:
