ANZ is restructuring its mortgage business, with 248 roles to be affected as its state-based mortgage fulfilment centres are consolidated.

With offices in Brisbane, Sydney, Adelaide, Perth and Hobart closing, much of its mortgage processing will be outsourced to an Australian-based "mortgage processing specialist", a "custody specialist", and elsewhere internally. ANZ said “a small number of administrative functions will also be undertaken at ANZ’s wholly-owned technology and operations centre in Bangalore”.

The decision comes after a two-year review of ANZ’s mortgage processing, much of which has been impacted by changes in technology.

Of the 45 staff affected in Melbourne, none are expected to lose their jobs as they will be taking on “comparable roles” being consolidated to Melbourne.

ANZ has also approximately created an additional 35 positions for mortgage risk assessors, a number it anticipates will eventually increase by 15.

ANZ said staff affected by the changes will be able to apply for other ANZ roles or may be in a position to take on jobs at the mortgage processing specialist or the custody specialist.