ANZ chief executive Nuno Matos believes “doing less” will help the bank meet its obligations to the Australian Prudential Regulation Authority (APRA).

Answering a question from Capital Brief at the Australian Financial Review Asia Summit on how the bank would meet its obligations despite job cuts in its risk function, Matos said one way of addressing the company’s challenges was to reduce complexity and initiatives.

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“We need to do less things. I want to highlight this — we need to do less things. And the things we do, we need to do it well,” Matos said.

“And one of those things, one of the most important things, is to get our non-financial risk management right.”