Susan Bannigan
Chief Executive Officer, Westpac Foundation and Westpac Scholars Trust
Ceremony: 17 May 2019, 10:30am - Faculty of Engineering and Information Technology, Faculty of Science
Speech
Thank you for that very, very kind introduction, Glenn, and I’m very honoured to be here. I’m excited to be here, and as I walked into the building this morning and saw so many of you out there with your family and friends, taking photos and throwing your mortar boards into the air, I knew it was going to be a really special day.
So, here we are on the land of the Gadigal people, and I wish to pay my respects to them and their elders of the Eora nation. I would also like to acknowledge the Pro Chancellor, presiding Vice Chancellor, presiding deans, presiding Director, members of the University Executive and Academic Board, staff, family, friends, and, of course, the graduates, including three inaugural Westpac scholars, Kajol Mal, Charlotte Udell and Annelise Rslevsks. Thank you for joining us today. A big congratulations to you all.
What a wonderful opportunity you have had over your degree – to expand your knowledge, learn new skills and to surround yourself with diverse people to help you broaden your perspective on the world. There is no doubt that the education you have received through your degree sets you in good stead for whatever lies ahead.
And I say ‘whatever lies ahead’ because, as I’m sure you have heard many times, with the unprecedented rate of technological change, it is almost impossible to predict the ways in which technology will change our lives in the future, and where and how each of you will end up applying your knowledge and skills over the years to come.
As multiple trends merge, such as globalisation, the Internet of Things, quantum computing, AI, autonomous cars, robotics, 3D printing, the application of those trends is mind-blowing, producing things that I could never have imagined when I first started work. My experience of cutting-edge technology was when I got my first job and I was given a laptop – a laptop, I call it; it was called a Macintosh Portable and it weighed 7 kilos and I had to pull by a trolley bag every time I went to a client, but I felt pretty much at the cutting edge at that stage.
So, the future of technology is exciting, fast and ever-changing. I’m inspired when I see this technology applied with humankind in mind to help make lives better. A practical example that I think shows great innovation to serve a pressing need is an organisation called Zipline that invests in drone technology. The idea of an Australia where drones are criss-crossing the sky and are an integral part of our everyday life still feels a few years off, but actually it is happening now at national scale in Africa.
Zipline has developed drone technologies to deliver lifesaving blood supply to health centres and hospitals all across Rwanda, no matter how remote the community. Every day, this technology enables doctors access to blood supplies they need to save lives. Not only that, but it has reduced plasma waste to zero at each hospital – something that has yet to be achieved in the developed world at a single hospital. It’s fascinating! Technology – it’s amazing what it can achieve. What an exciting time to be graduating with technology a thread through everything we do.
Having had a long career in the financial service sector, worked with hundreds of young leaders and more humbly as a mother of three, I see firsthand that digital technology is a platform for the next generation’s lives. However, as much as we love technology, it is only an enabler.
Over the last 3–4 years, you have developed skills to help you be life-ready, technical skills, but also, as the Pro Chancellor pointed out, skills for learning, collaborating, problem solving and entrepreneurship. Some might say these are the most important skills. With recent research highlighting that 60 per cent of students are training in jobs that will be radically changed by automation, the life skills you have gained are some of the most critical ingredients you need to help you thrive into the future.
Now, I want to focus on three of these ingredients: lifelong love of learning, building diverse networks and embracing that scary sense of vulnerability. When you walk out those doors today, that is not the end of your learning. It’s important that you continue to relish opportunities to learn, because when you embrace learning, you prosper and grow, no matter what the world throws at you.
I see this every day though the stories of Westpac scholars. For example, when the Toyota manufacturing plant closed down in Victoria in 2017, Matt Bowtell, an engineer, was made redundant. At this point he contemplated his future and he asked himself, if money were no object, what would I do? Matt decided to combine his engineering skills with the capability of 3D printing to create free prosthetics to people who would otherwise go without. A prosthetic that would have cost up to 15,000 dollars through traditional means, Matt can now create in his garage for 20 dollars.
Not only has Matt developed a prosthetic that is changing lives, he’s open sourcing his design for free, so now anyone in the world can learn to print their own prosthetic. As an individual, he could have made hands for hundreds, maybe thousands of children, but by teaching others, he hopes to help millions. As a Westpac scholar, he has travelled the world to learn from others and to set his sights on the next challenge: to create an affordable bionic arm.
I encourage you to remain open to learning, not only through the job experiences and the opportunities through UTS but also from the people you surround yourself with. So, take a moment – take a moment – and think. Think about the people that are surrounding you in your life. Do they look like you? Do they think like you? Are they interested in the same things as you? People are comforted by commonality, but people learn from diversity. It takes people from all walks of life, from different backgrounds with different mindsets, values and views to build an inclusive, vibrant and future-focused society. Be sure to build your network with people that look and think nothing like you. Take the time to listen and learn from their experiences and perspectives on the world.
And there is no doubt that over the years to come you will have moments you feel you are an impostor, well out of our comfort zone, the kind of situation where you feel you are riddled with fear that those around you are going to realise that you are way out of your depth. And to be honest, I get that feeling every day, but at least we are in good company. We are with people like Michelle Obama, Mike Cannon-Brookes and Tom Hanks, sharing their stories of ongoing impostor syndrome, which I tell you, which tells us that no matter how successful you are, you will need to embrace that feeling of vulnerability. It means you’re learning. Life is unpredictable and you won’t feel ready for every challenge, but I encourage you to step into those challenges, seek the chance to learn and grow, ask for help and expand and leverage your diverse networks. Comfort zone is a beautiful and safe, safe place, but nothing ever grows there.
Each of you should be very proud to be here today. I know your family is very proud of you. Dedicating 3–4 years of your life to complete your degree is quite an achievement – an achievement that will help fill your future with possibilities. I encourage you to never stop learning, to treasure diversity and believe, no matter how often you stumble – and you will – that you can do anything.
In closing, I’d like to share with you a quote from one of my favourite authors, Mark Twain: ‘Twenty years from now, you will be more disappointed by the things you didn’t do than by the ones you did. So, throw off the bow lines, sail away from the safe harbour, catch the trade winds in your sails, explore, dream and discover.’
Thank you.
About the Speaker
Susan Bannigan is currently the Chief Executive Officer of the Westpac Foundation. The Westpac Foundation is a not for profit organisation that provides grants for the purpose of community development where the long-term unemployed, Indigenous Australians, refuges, the homeless and individuals with a disability can feel engaged and included.
She also serves as the Chief Executive Officer of the Westpac Bicentennial Foundation and was responsible for its establishment, scholarship design and overall management. The Foundation provides funding for 100 new scholarships every year to individuals from all walks of life who have the potential to shape Australia’s future.
Susan has over 25 years’ experience in the financial services industry in Europe and Australia. She joined Westpac in 1995 and has held senior roles in finance, treasury and business leadership across the Westpac Group.
Prior to joining Westpac, she spent three years in investment banking in London and five years as a Chartered Accountant with KPMG in Sydney, Solomon Islands and Paris. Susan is the former Director and now President of the Business/Higher Education Round table and for five years, was the Chief Financial Officer for RAMS Franchising Proprietary Limited with responsibility for information technology, finance, legal and compliance functions.
She is a member of the Australian Institute of Company Directors and the Institute of Chartered Accountants in Australia and holds a Bachelor’s degree in Economics from the University of Sydney.
