Delia Rickhard

Ecstra Foundation Ltd (Ecstra) has appointed Ms Delia Rickard to its board, effective as at 18 April 2023.

Ms Rickard has over thirty years’ experience working on behalf of consumers.  Most recently she was Deputy Chair of the Australian Competition and Consumer Commission (ACCC) from June 2012 until finishing with the Commission in January 2023 (see full bio below).

“We warmly welcome Delia to the Ecstra board,” Ecstra’s Chair Paul Clitheroe AM said. “She brings deep consumer policy expertise and sector leadership across her distinguished career.

“We are confident Ecstra will benefit from Delia’s insights into financial capability and her passion for financial literacy and consumer protection, as Ecstra delivers on its mission to help build the financial wellbeing of all Australians. 

“Ecstra’s suite of financial education programs in schools, community grants, and partnerships focused on improving consumer outcomes are vitally important as many Australians are navigating cost of living pressures and increasing household financial stress. Delia’s extensive experience and understanding of these areas will be enormously beneficial to Ecstra,” said Mr Clitheroe.

Ms Rickard says: “I am looking forward to contributing to an organisation whose core mission is financial capability and wellbeing, especially as Ecstra is committed to supporting community partners and schools based financial education programs. These are areas that I feel deeply passionate about.

“Ensuring consumers, especially young people, can access the information, tools and resources to make sound financial decisions has been a focus throughout my career.  I am pleased to be working with the Board to help elevate this important work.”

Caroline Stewart, CEO of Ecstra Foundation, says: “Delia joins our board at a critical juncture. She was instrumental in the development of the original and very successful National Financial Literacy Strategy. Given the uncertain external economic environment and many areas of persistent economic inequality, we would like to see renewed cross sector commitments, including by government to the current National Financial Capability Strategy, launched in 2022.

“This would include collaboration and coordination of the efforts of many stakeholders working directly to support consumers, a nationally consistent approach to providing effective financial education in schools and appropriate consumer protection and policy settings to help improve the financial futures of all Australians.”

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Delia Rickhard

Eleven trailblazing organisations yesterday unveiled their commitment to a new innovative program designed to stimulate inclusive economic growth, especially focused on women.

According to the CEO of Good Shepherd Microfinance, Adam Mooney, the new Financial Inclusion Action Plan (FIAP) program will see coordinated, measurable actions to improve financial resilience for large numbers of people experiencing financial exclusion and hardship.

“We all want to be able to access and use financial services that are appropriate to our circumstances and improve our lives. Yet, there are three million people, or one in six adults, who are financially excluded in Australia,” said Mr Mooney.

“The FIAP program invites organisations to turn good intentions into action that works by collaborating across sectors to improve financial inclusion for everyone,” he said.

Good Shepherd Microfinance and partners EY, Centre for Social Impact (CSI) and the Australian Government have developed the FIAP program, guided by an advisory group, Chaired by Ms Delia Rickard, Deputy Chair of the Australian Competition and Consumer Commission.

“Financial Inclusion Action Plans provide an opportunity for organisations to explore their current business operations and identify how they are taking action to realise financial inclusion through relationships, impact, learning and reporting,” said Ms Rickard.

“The 11 trailblazer organisations are the first among banks, energy companies, insurers, governments, universities, community organisations and others to commit to the program.

“Financial inclusion is a shared opportunity. By working collaboratively across business, community and government, Australia is taking great strides towards a more financially inclusive society,” said Ms Rickard.

Suncorp Group CEO and Managing Director Michael Cameron said: “Suncorp has a long history in supporting communities and customers and is looking forward to working alongside other top companies to help improve the financial resilience and capabilities of all Australians.”

“We are determined to meet the needs of our customers, employees and the broader community by providing them with access to relevant and affordable products and services that provide protection for today, and confidence for tomorrow” he said.

Mr Mooney also said that increased financial inclusion was linked to improved gender equality and safer outcomes for women and their children.

“Building women’s financial resilience is good for everyone. Financially confident and resilient women create financially resilient families that are less likely to be victims of forms of family violence such as financial abuse.”

“FIAPs will give organisations the opportunity to take meaningful and significant actions towards systemic change, allowing greater access to their products and services and in turn promoting economic participation by women,” he said.

The cross sectoral approach of the FIAP program places Australia in a global leadership role with regards to its international commitments to the G20 and the Global Financial Inclusion Action Plan.

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