Now, you say in your statement that: Bankwest has implemented increased controls through the origination process, including a requirement that all valuations performed by internally badged valuers are to be reviewed and assessed by an independent risk professional within the risk management team. That’s what you’ve just referred to?Yes, that’s And they’re a registered value not just a risk professional. Where do we see this policy?I think it’s on the next page. Okay. Could we turn to 1406?Sorry, it might be the last page. Yes. If we could I – think it will be the last page. 1407 is the second last page, and 1408 is the last. Perhaps if they could both be on the screen?So the review and accuracy check is the random sample which also happens. So that’s something different?Yes, it is. But A random sample? is there is a on the policy document that we have, it – – does not and I have checked that it has the check by the registered valuer – So ? who works in risk. So it’s not in this document?It appear to be on this document, but THE COMMISSIONER: Well, can we go back to 1407. And you see a table. Beneath the table you see two notes, and under the second of those notes: Valuations for rural properties greater than 5 million must be co-signed – in particular ways. And then a second note. What do I make of those parts of the document?So the for the for that one, if it is over 5 million, there’s a co-signing, – – which has to be done by one of the following, and the the teams are the state – manager, senior relationship manager. So there’s a co-signing of anything over 5 million. The And the next note?The what, And the next note, what do I make of that?Sorry, yes. And and all of the valuations – are sent to CVBC, which is the internal valuer, who works in the risk department, and is the person that has to approve all internal valuations. MS ORR: So is that what you’re referring to, the to CVBC for their “forwarded review”?Yes.
Now, you say in your statement that: Bankwest has implemented increased controls through the origination process, including a requirement that all valuations performed by internally badged valuers are to be reviewed and assessed by an independent risk professional within the risk management team. That’s what you’ve just referred to?Yes, that’s And they’re a registered value not just a risk professional. Where do we see this policy?I think it’s on the next page. Okay. Could we turn to 1406?Sorry, it might be the last page. Yes. If we could – I think it will be the last page. 1407 is the second last page, and 1408 is the last. Perhaps if they could both be on the screen?So the review and accuracy check is the random sample which also happens. So that’s something different?Yes, it is. But A random sample? is – there is a – on the policy document that we have, it does not – and I have checked that it has the check by the registered valuer So ? who works in risk. So it’s not in this document?It appear to be on this document, but THE COMMISSIONER: Well, can we go back to 1407. And you see a table. Beneath the table you see two notes, and under the second of those notes: Valuations for rural properties greater than 5 million must be co-signed – in particular ways. And then a second note. What do I make of those parts of the document?So the – for the – for that one, if it is over 5 million, there’s a co-signing, which has to be done by one of the following, and the – the teams are the state manager, senior relationship manager. So there’s a co-signing of anything over 5 million. The And the next note?The what, And the next note, what do I make of that?Sorry, yes. And – and all of the valuations are sent to CVBC, which is the internal valuer, who works in the risk department, and is the person that has to approve all internal valuations. MS ORR: So is that what you’re referring to, the “forwarded to CVBC for their review”?Yes.