Commonwealth Bank CIO takes pay hit over online outage

Commonwealth Bank CIO takes pay hit over online outage

CBA chief information officer Michael Harte and several other IT executives have taken pay hits related to the outage that affected the bank's online service earlier this year.

Netbank fell over in June under the weight of unprecedented levels of traffic, sparking speculation it had fallen prey to a massive Denial of Service attack by hackers.

At a press briefing, Harte has now revealed that the outage led to a pay hit for him and members of his team.

"It affected mine. And it affected a lot of people in this room," he revealed at press briefing attended by CBA head of online, Tim Whitely, head of core banking, Dave Curran and the lead for a Telstra telecommunications project, Nick Holdsworth

According to local press reports, the CIO was paid around A$2.8 million for the year but the amount deducted for the outage was not disclosed.

The pay hit is part of CBA's new focus on customer satisfaction, which is now a key performance indicator for 40% of "at risk pay" for the enterprise services team.

"That simply means that if our customers aren't happy with the reliability of the system, the convenience and ease of use and access, the richness and features and functions, we will be penalised, and our staff will directly feel that," Harte told reporters.

In addition, CBA is applying the same criteria to technology suppliers, affecting firms such as Telstra, SAP, Acenture, Oracle, IBM and HP.

NetBank outage hits CIO's pay - ZDNet Australia

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