'Mentorship is crucial for new-to-industry brokers because it provides a foundation of support in an environment that’s both dynamic and demanding'
Michael Ponchard (pictured) is the veritable mentor-in-chief at Bankwest.
Well, Ponchard’s official title is senior sales manager, NSW third party, but he also dedicates much of his time to sharing the knowledge and wisdom he’s accumulated over the years to fresh-faced industry newcomers.
For Ponchard, mentorship isn’t simply a nice to have, it’s an essential ingredient in crafting a finance professional fit to face the challenges of a daunting industry.
“Mentorship is crucial for new-to-industry brokers because it provides a foundation of support in an environment that’s both dynamic and demanding,” says Ponchard in a chat with MPA. “While the industry offers plenty of excitement and opportunity, the learning curve can be steep especially when it comes to understanding the reasoning behind credit decisions and navigating complex scenarios.”
While most new brokers build strong relationships with their mentors in the first few years, there can still be moments where they feel they’re navigating challenges alone.
True, there are some exceptional mentoring programs offered by the broker associations, including the Mortgage and Finance Association of Australia (MFAA) and the Finance Brokers Association of Australia (FBAA), which can provide a clear framework for critical things like compliance and regulation.
But at the same time, “informal mentoring, where experienced brokers and other industry professionals such as lenders offer guidance outside of formal programs, is equally important for building confidence and practical skills”, says Ponchard.
“Even if you’re not a formal mentor in the MFAA or FBAA sense, being available to share insights, answer questions, and provide real-world advice can make a significant difference.”
The road to mentorship
Ponchard’s passion for mentorship is a consequence of the struggles he encountered early in his career.
“When I began my banking career, there was little emphasis on structured capability building, you were expected to hit the ground running and contribute from day one,” he recalls. “Most of my early lessons came the hard way, through trial and error, which sometimes meant the customer felt the impact.”
Having crossed paths with his own mentors, Ponchard came to realise just how important the passing down of knowledge is in this industry.
“Their willingness to share insights, offer honest feedback, and invest time in my growth made a lasting difference not just in my skills, but in my confidence,” he says. “Many of those mentors have become lifelong friends, and their example continues to shape how I support others today.”
Looking back, Ponchard recognises that a good mentor is one who empowers new brokers “to think independently and make sound decisions, even in complex situations”.
“Knowing I played a part in their journey and seeing them now consistently succeed is a reminder of why mentorship matters"
“Patience is essential,” he adds. “Sometimes it takes time for concepts to click, and a mentor needs to adapt their communication style to suit the mentee’s needs. It’s important to celebrate wins, but just as crucial to reflect honestly on setbacks and have the tough conversations that drive real growth.
“Ultimately, a good mentor is invested in their mentee’s development, willing to share practical insights, and able to foster resilience and professional judgement.”
Confidence matters
Being able to turn hard-earned lessons into actionable insights for others keeps Ponchard motivated. One of his mentees stands out as a shining example of why mentorship is his passion.
A new-to-industry broker, full of enthusiasm but utterly overwhelmed by the complexities of the role, reached out pleading for a helping hand.
Ponchard worked with this broker for months, building their skill set and simplifying what seemed like impossible-to-comprehend concepts.
Over the months, Ponchard saw this broker develop their technical abilities while growing their judgement and self-assurance.
“Knowing I played a part in their journey and seeing them now consistently succeed is a reminder of why mentorship matters. It’s these moments that make the investment worthwhile, both for the individual and for the industry as a whole.
“There’s nothing quite like seeing a mentee move from uncertainty to confidence, especially in those tough early years as a broker.”
Wanted: More mentors
Given the satisfaction Ponchard has gained out of being a mentor, he naturally encourages others to consider becoming a mentor.
“Giving back to an industry that’s shaped my career is incredibly rewarding, and I believe we all have a responsibility to share what we’ve learned. When experienced professionals invest their time and skills in supporting new brokers, it sets the next generation up for success.
“Even small contributions like sharing insights, offering guidance, or simply being available for a conversation can make a lasting impact. The more leaders who get involved, the better equipped our industry will be to thrive in the future.”
Through its partnership with REFS Australia, Bankwest is certainly doing its part to maintain a thriving mentorship community.
REFS, explains Ponchard, brings the MFAA/FBAA-approved mentoring and a national reach, while Bankwest brings practical credit discipline and hands-on training that links policy to practice.
“Together, the aim is simple: help brokers build independent judgement, frame scenarios clearly, and make sound credit decisions,” says Ponchard.
Bankwest also has a robust education platform to complement its mentorship programs.
It recently supported each state event in the MFAA’s Women in Finance series, it hosted the 700-broker-strong AFL Grand Final Connect event, and also featured on the Mortgage Choice AI and Broker Innovation Summit panels.
As 2026 approaches, Ponchard is looking forward to continuing to support new brokers, including through Bankwest's partnership with the New Broker Academy next June, with events scheduled in Brisbane, Sydney and Melbourne.
