Apra was a critical part of the NAB's remuneration regime.
Apra: "In general, the NAB's significant scope may pose a risk to payment methods, a stronger risk culture, and clarity of accounts and expectations within the bank.
"The expectations of the APRA payment organization are set out in CPS 510. This standard should design component component performance components with rational risk mitigation payments, by which financial performance measurements should be adequately adjusted for risks and minimal risk management in scanning panels , and risk management expectations must be clear.
"In the Apra view, The NAB's current focus is not yet fully respected and respected by this member.
"Effective efficiency of salaries must include risk adjustments. In the case of senior executives of the NAB, performance is measured mainly based on income earnings, net worth and net worth on the developer based on benchmarking criteria. Long-term incentive plans are based on a relative exchange of all shareholders . Therefore, the performance measurements of performance appraisals must be underlined, and unlike the members, there is no profitability risk free. "
Orr: "Was it a detailed definition of your payment period at that time?
Henry: "Well, well, I mean, that's what Apra said. Yes, of course.
Orr: "So, Apr's view, in the summary, NAB payment arrangements were not working that the NAB risk management guy was protected."
Henry: "That was his view, yes.
Orr: "According to the NAB agreements, only Apra was expected to be an advanced benchmark.
Henry: "That was his vision, without a doubt."
Orr: "Yes. Now, I can give the paper, curator."