AFCA’s Board Chair, Professor John Pollaers OAM, said Jonathon would bring an impressive set of skills and experience to the board. “With his legal expertise and proven leadership in advancing consumer rights, Jonathon will bring a unique and valuable perspective to our mission,” he said.

“He has extensive experience working with socially, culturally and linguistically diverse groups, which is extremely beneficial for our work as an ombudsman service that serves all members of the community.”

The AFCA Board consists of an independent Chair and an equal number of directors with consumer and industry experience, covering the multi-dimensional and highly complex industries AFCA deals with.

Jonathon is a practising lawyer with more than 25 years’ experience, across discrimination, human rights, Aboriginal land rights, administrative, criminal and coronial law. He serves on the boards of the Australian Pro Bono Centre and Community Legal Centres NSW.

He is also the Chief Executive Officer of the Justice and Equity Centre, a leading independent law and policy centre focused on serving those facing disadvantage and protecting human and civil rights. Before this he was the Principal Legal Officer of the North Australian Aboriginal Justice Agency in Darwin.

“Jonathon’s commitment to equity and justice aligns perfectly to our goals, and we are confident that his contribution will help drive meaningful outcomes for the community,” Professor Pollaers said.

Jonathon has also served as the Director of Legal Services at the Australian Human Rights Commission, including acting as counsel assisting the National Inquiry into Children in Immigration Detention.

Jonathon will replace Gerard Brody, the former Chief Executive of the Consumer Action Law Centre who became a member of the AFCA Board in 2023. Mr Brody is now the fulltime Chair of the Essential Services Commission in Victoria.

“We thank Gerard for his contribution to AFCA and we wish him continued success,” Professor Pollaers said.

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John Pollaers

The AFCA Board is pleased to announce that Professor John Pollaers OAM has been reappointed as the Independent Chair of the Board of the Australian Financial Complaints Authority for a second term of three years.

“John’s strategic leadership and his commitment to strong governance has shone through over the past three years and we are delighted he will stay on as Chair and continue to drive AFCA’s vision,” the AFCA Board said in a statement.

During Prof Pollaers’ first term, the Board has overseen the maturing of AFCA into a world-class ombudsman service, recognised as one of Australia’s best places to work.

Under Professor Pollaers’ stewardship, the Board has also experienced transformation, with the appointment of new board members with the calibre and commitment to lead AFCA through its strategy over the next three years and beyond, providing AFCA with the strategic leadership required, and enhancing engagement with key industry and consumer stakeholders.

In the past three years, AFCA has successfully implemented a wide range of initiatives in response to a positive Treasury-led Independent Review in 2021. It has stepped up to manage an unprecedented number of complaints – topping 100,000 in 2023, almost double the number its three predecessor schemes handled in their final year. AFCA has also rolled out a program of technological transformation, including soon, the implementation of a leading complaints management system that is drawing interest from other ombudsman schemes.

Prof Pollaers said he was excited to continue as Chair of an organisation delivering fair, independent and impartial dispute resolution in financial services.

“I look forward to building on the incredible foundation created during the past three years to ensure AFCA delivers on its core services to the Australian community, our members and stakeholders, in particular improving our accessibility to vulnerable consumers,” he said.

“AFCA performs a critical function, working with financial firms, consumers and small businesses to resolve financial complaints, and to help firms minimise disputes. Ultimately, this supports confidence in the financial services sector.

“I look forward to continue working alongside a very committed Board, with a truly diverse set of skills and experience, as well as our highly regarded Chief Ombudsman and CEO, David Locke.”

Initially appointed in May 2021, Prof Pollaers’ second term will continue until 13 May 2027.

During Prof Pollaers’ first three years as Independent Chair, AFCA received more than 270,000 complaints, with over $775 million being paid in compensation to individual consumers and small business owners after complaints were resolved either by agreement between the parties or through formal decisions.

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Sarah Abood

The Financial Advice Association Australia (FAAA) welcomes the decision by the board of directors of the Australian Financial Complaints Authority (AFCA) to propose ending the membership of Dixon Advisory (Dixons), from 30 June 2024 (noting the administrator of Dixons has 21 days to make a submission if it wishes).

AFCA’s position was confirmed in a letter from AFCA Chair Professor John Pollaers to FAAA Chair David Sharpe, responding to concerns the FAAA had raised with AFCA about Dixons’ continued membership.

FAAA CEO Sarah Abood said this is a fair and sensible decision, following months of relentless FAAA advocacy.

“The FAAA has been calling for Dixons’ membership of AFCA to be ended for some time. It has been extended twice, despite the fact the company went into administration in January 2022.  This meant that complaints by former clients could continue to be made and would continue to be eligible for compensation from the Compensation Scheme of Last Resort (CSLR), considerably increasing the potential cost of the scheme to financial advisers well beyond the actuarial estimates.”

“Ending the membership of Dixons as proposed, effective on 30 June 2024, represents an appropriate and fair outcome for consumers, providing them with ample time to lodge a claim, as well as recognising that the profession is funding the compensation.”

Ms Abood said the FAAA is calling on the government to take further action as there is still considerable work to be done to ensure the funding model is sustainable.

“The FAAA supports the CSLR in principle, however a number of substantial problems remain with the way the scheme has been funded, which threaten its long-term viability.

“The burden should not fall on financial advisers who have done nothing wrong. It is economically impossible for the small business financial advice sector to underwrite the failures of large listed firms.

“The CSLR has created a situation where companies can simply walk away from a failed subsidiary, leaving the rest of the sector to compensate clients.  This is a dangerous precedent and removes the consequences of poor or risk-taking decision making.

“It is disappointing that Minister Jones has not yet responded to the concerns the FAAA has been expressing on behalf of members since before the scheme launched, regarding the size and scope of the CSLR, and the unsustainable nature of its funding.

“Without changes to the funding model, the scheme is likely to further increase the cost of advice – through advisers either passing additional costs through to clients, or leaving the profession as a result of increased costs – further exacerbating the current demand/supply imbalance, and increasing the costs of those who remain, in a vicious cycle.

“We share a common goal with the government; to make high quality financial advice more affordable and accessible for consumers. The CSLR is one of the biggest threats to this goal and we will continue our campaign to ensure the scheme is set on a sustainable footing.”

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AFCA’s Board Chair, Professor John Pollaers OAM, said Dr Loban will bring an impressive set of skills and experience to the board as a director with consumer experience. “As a highly regarded Indigenous lawyer who is dedicated to consumer advocacy work, she will make a strong contribution,” he said.

“Throughout her career, she has been passionate about access to justice and fairness and she recognises the vital role that ombudsman schemes play in helping to secure fair resolutions to financial disputes.”

The AFCA Board consists of an independent Chair and an equal number of directors with consumer and industry experience, covering the multi-dimensional and highly complex industries AFCA deals with.

Dr Loban is a proud descendant of the Mabuyag and Boigu peoples, a lawyer, academic and company director. She is in-house counsel with Queensland South Native Title Services and a company director for Mura Lagh, a First Nations owned and led consulting firm.

She has also recently served as the Director of First Nations Strategy at Queensland Performing Arts Centre and has held numerous academic positions including Senior Lecturer posts at Griffith University and James Cook University. Her PhD thesis was on “Aboriginal and Torres Strait Islander people and consumer law”.

As a lawyer she has worked as Principal Legal Officer at Gur A Baradharaw (GBK) Torres Strait Sea and Land Council, as CEO of the Torres Strait and NPA Legal Service, and as a solicitor with the Torres Strait Regional Authority and the Aboriginal and Torres Strait Islander Commission.

“The Board is excited to be welcoming Heron as a leader, a First Nations woman, a lawyer, a consumer advocate and an academic. Her involvement with multiple community and industry groups gives her a unique perspective,” Professor Pollaers said.

Dr Loban is a member of the First Nations Clean Energy and Emissions Reduction Advisory Committee, the Indigenous Advisory Group of the Australian Securities and Investment Commission (ASIC), and the Advisory Board for Reforming Legal Education.

She has also been Co-Chair of the First Nations Cultural Heritage Protection Alliance, a Member of the Council of Australian Law Deans Working Party on First Peoples Partnership, a director of the Australian Communications Consumer Action Network (ACCAN) and a member of the Telstra Chief Executive Officer Consumer Roundtable.

Dr Loban will replace Carmel Franklin, who became a member of the inaugural AFCA Board in 2018 after serving as a consumer director on the board of one of its predecessor schemes, the Financial Ombudsman Service (FOS).

“We thank Carmel for her dedication and outstanding contribution over nearly nine years with AFCA and FOS,” Professor Pollaers said. “She has been a stalwart on the board, providing invaluable consumer insights and expertise.”

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AFCA’s independent Board Chair, Professor John Pollaers OAM, said the board was excited to welcome Raylene and Yien, who would bring a wide breadth of skills and knowledge to their roles.

“Both of these highly successful women are the perfect fit for AFCA’s board, and their appointments ensure the organisation will continue to provide an independent, free and fair external dispute resolution service for financial disputes in Australia,” Professor Pollaers said.

The AFCA Board consists of an independent chair and an equal number of directors with consumer and industry experience, covering the multi-dimensional and highly complex industries AFCA deals with.

Raylene Bellottie is a proud Nanda woman from Yamatji country with a wealth of expertise as an Aboriginal business director, consultant and board member.

Raylene has extensive financial sector experience of over 25 years. She is deeply committed to enhancing Indigenous financial literacy and has served as the Deputy Chair of the First Nations Foundation for more than 10 years. The Foundation strives to promote economic freedom for Aboriginal and Torres Strait Islander people.

She gained valuable experience during her tenure at ANZ Bank, later joining Credit Union Australia (CUA) as the National Business Development Manager of First Nations accounts, where she was instrumental in expanding the First Nations Portfolio from $17 million to over $200 million.

Raylene is currently a business coach for the Waalitj Foundation, where she provides guidance and support to Aboriginal and Torres Strait Islander people to enhance their competence and capability building. In addition, she has held various roles with the Indigenous Advisory Group, the Indigenous Financial Service Network, and as the Deputy Chairperson for Nanda Aboriginal Corporation. Raylene is currently a member and director of Yamatji Southern Regional Corporation and Chairperson of Yamatji Funds Management Ltd.

“Raylene’s remarkable career in the finance sector along with her experience working with small businesses, means she has a strong understanding of the important work AFCA does,” said Professor Pollaers.

Yien Hong is General Counsel and Company Secretary at Judo Bank, Australia’s only purpose-built challenger business bank for small and medium enterprises, which listed on the ASX in November 2021.

Yien has had an impressive executive career, having held senior roles in Australia and internationally across firms including Deutsche Bank, NAB and Linklaters.

Prior to joining Judo Bank, she was General Counsel and Company Secretary at Growthpoint Properties Australia, an ASX-200 listed property fund. Yien was also Senior Legal Counsel at NAB, providing legal advice and support to the bank’s business banking division.

Yien’s international experience includes three years as the Head of FX and Fixed Income Prime Brokerage Legal at Deutsche Bank, London, where she led a team that supported the structured derivatives business. Before joining Deutsche Bank, Yien held a senior role with global law firm Linklaters, delivering client solutions for private equity acquisitions, cross-border financings and complex structured finance transactions.

With a passion for social justice, Yien served for five years as the Director and Chair of the Development Committee at YWCA Housing (YWCA Victoria), working to provide accommodation and other services to disadvantaged women. Yien also currently serves as a non-executive director of the Australian Arts Orchestra, one of Australia’s leading contemporary ensembles.

“Yien’s impressive executive career, strong legal background and solid understanding of governance, underpinned with a strong sense of social justice, makes her an excellent fit for AFCA and an important addition to the board,” said Professor Pollaers.

Raylene and Yien will replace current AFCA board members Claire Mackay and Andrew Fairley AM. Claire joined the AFCA board in May 2018 and Andrew in July 2018.

“Claire and Andrew played such an important part in AFCA’s first five years, as founding directors,” Professor Pollaers said. “They both provided invaluable knowledge and expertise during their tenures and we thank them for the significant contributions they have made in helping AFCA to become the world-class ombudsman service it is today.”

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Ms Dave has over 30 years of banking and financial sector experience and has held senior roles at National Australia Bank, Deutsche Bank, AMP Henderson Global Investors, Bankers Trust and Westpac. She was most recently the Managing Director and CEO of Export Finance Australia. Ms Dave has also served on a number of diverse boards including as a non-executive director of State Super, Australian Hearing and Great Western Bancorp,Inc.(USA).

“Ms Dave brings to the board a deep commitment to excellence, innovation and social impact,” AFCA’s Independent Chair, Professor John Pollaers OAM, said. “Her leadership and expertise have enabled her to make significant contributions to the various organisations in which she has served, and we look forward to benefiting from her experience and insights.”

The AFCA Board has an independent and expert group of directors with extensive financial services industry and consumer experience. Its eight directors, led by an independent Chair, bring together a breadth of knowledge across the multi-dimensional and highly complex industries AFCA covers: banking and finance, insurance, investments and advice, and superannuation.

AFCA provides free, fair and independent help with financial disputes for consumers and small businesses and their financial firms. In the past financial year consumers and small businesses sent a record 97,000 complaints to AFCA. It has helped secure $1.1 billion in compensation and refunds for complainants since it began work in November 2018.

“The Board is committed to ensuring that AFCA continues be an effective, efficient, independent and fair external dispute resolution scheme for financial services,” Professor Pollaers said. “Ms Dave’s diverse experience as an executive and board director will be invaluable as AFCA works to provide clear member and community value”.

Ms Dave said: “a fair and trusted financial services sector underpins our country’s continued success and I’m excited to be joining the board as we continue to evolve as a world leading ombudsman”.

Ms Dave replaces Jennifer Darbyshire, who was a founding board member of AFCA when it began operations on 1 November 2018.

“We thank Jennifer for the very important role she has played in helping to develop AFCA as a world-class ombudsman service,” Professor Pollaers said. “We were very fortunate to be able to draw on her extensive board and senior executive experience in governance, law, banking and risk.”

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Gerard Brody

The Australian Financial Complaints Authority (AFCA) has announced the appointment of the former chief executive of the Consumer Action Law Centre, Gerard Brody, to its independent board. His appointment is for three years, effective 4 May 2023.

“Mr Brody brings to the board his policy, regulatory, legal and consumer experience,” AFCA’s Independent Chair, Professor John Pollaers OAM, said. “He has a thorough understanding of the contemporary challenges facing consumers and firms.”

The AFCA Board is made up of an independent and expert group of directors with extensive financial services industry and consumer experience. Its eight directors, led by an independent Chair, bring together a breadth of knowledge across the multi-dimensional and highly complex industries AFCA covers: banking and finance, insurance, investments and advice, and superannuation.

AFCA provides free, fair and independent help with financial disputes for consumers and small businesses and their financial firms. AFCA’s external dispute resolution scheme is on track to register about 100,000 complaints this financial year and has secured $1 billion for complainants since inception in November 2018.

“The Board is committed to ensuring that AFCA continues be an effective external dispute resolution scheme for financial services, with a focus on efficiency, customer service and providing clear member and community value,” Professor Pollaers said. “Mr Brody’s broad experience will be invaluable as AFCA delivers against these goals.”

Mr Brody has worked as a lawyer, policy officer and consumer advocate for 20 years. He was the CEO of the Consumer Action Law Centre, a leading consumer advocacy organisation that provides legal assistance and financial counselling, for 10 years until February 2023.

He is also an experienced director. He has been on the board of the Energy & Water Ombudsman Victoria since 2014, the Telecommunications Industry Ombudsman since 2022, and Community Legal Centres Australia, the peak body for community legal centres, since 2021. In addition, he is the Chair of the Consumers’ Federation of Australia, the peak body for consumer organisations in Australia.

Mr Brody said: “Dispute services like AFCA are critical to consumer protection in Australia. Not only do they help resolve complaints quickly and fairly but they also look to improve the marketplace for everyone by raising standards and improving internal practices to avoid disputes in the first place.

“I’m excited about contributing to AFCA and its vision of being a trusted and world-class ombudsman service that meets the needs of our diverse community.”

Mr Brody will replace Elissa Freeman, who served on the predecessor Financial Ombudsman Service’s board and then the inaugural AFCA board for a total of about nine years.

“As a founding board member, Elissa played an important role in the creation of AFCA,” Professor Pollaers said. “We thank Elissa for her commitment to the work of FOS and for her stewardship as AFCA created a new, world-class dispute resolution service.”

AFCA replaced FOS, the Credit and Investments Ombudsman and the Superannuation Complaints Tribunal in November 2018.

The AFCA Board extended the current term of Jennifer Darbyshire, also a founding board member, who has extensive senior executive experience in governance, law and risk across a range of sectors and in a variety of roles and organisations, including most recently the National Australia Bank.

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David Locke

The Australian Financial Complaints Authority’s (AFCA) Board of Directors has announced the re-appointment of David Locke as Chief Ombudsman and Chief Executive Officer for a second five-year term.

Separately, the financial services ombudsman reported that its complaints resolution scheme had now secured $1 billion in compensation for consumers since opening its doors on 1 November 2018.

“As AFCA’s inaugural Chief Ombudsman, David has met the challenge of bringing together three separate dispute resolution bodies to build a new, world-class scheme,” AFCA Board Chair Professor John Pollaers OAM said.

“He has also led the organisation through a period of significant growth in complaints as a result of the COVID pandemic, natural disasters and scams.”

AFCA’s predecessor schemes, the Financial Ombudsman Service, the Credit and Investments Ombudsman and the Superannuation Complaints Tribunal, together accounted for just over 52,000 complaints in their last full year, 2017-18. This financial year AFCA is on track to receive close to 100,000 complaints.

Professor Pollaers said that, in the face of such challenges, the ombudsman service had received a positive report card from the 2021 Independent Review of AFCA, which found it was “performing well” in a difficult environment.

Mr Locke had overseen significant initiatives such as the development of the publicly searchable AFCA Datacube, which allows firms and consumers to compare complaints performance; a new funding model welcomed for its fair, user-pays approach; a significant review of the AFCA Rules now under way; and an ongoing IT transformation to ensure an efficient and user-friendly experience for firms and consumers.

“AFCA provides a vital service,” Professor Pollaers said. “Consumers, small businesses and financial firms can participate in the financial system with confidence that a robust process is in place in the event of a dispute. The Board is delighted that David has accepted our invitation to continue to lead this important work.”

Mr Locke, who will begin his new term on 28 June 2023, said he was honoured to be reappointed Chief Ombudsman. “AFCA plays a very important role in Australia’s financial services system, and it is a great privilege to lead such an amazing group of people who are passionate about access to justice and fairness to all.

“We expect to register close to 100,000 complaints this financial year, up from 70,000 complaints just a year ago. AFCA’s services have, sadly, never been more needed. We will continue to work in partnership with financial firms, consumer bodies, and regulators to share lessons from our work and drive improved practices. We want to see financial firms resolve more disputes themselves, so fewer matters have to be escalated to AFCA.”

AFCA also announced today a significant milestone, with the amount of compensation and refunds secured for consumers now topping $1 billion. As of 30 March, it had resolved more than 320,000 complaints since opening its doors.

In that time AFCA has also identified and resolved 236 systemic issues – issues with wider implications beyond an individual complaint – resulting in refunds to 4.7 million consumers totalling more than $278 million.

Since inception, AFCA has:

• closed more than 320,000 complaints
• secured more than $1 billion in compensation for consumers
• seen about 70% of cases resolved by agreement
• worked with more than 26,000 people in financial difficulty
• worked with more than 5,000 victims of about 50 weather disasters
• handled more than 17,000 Covid-related complaints.

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“Ms Rickard brings to the board a wide range of skills from a distinguished public service career in consumer policy. She has a deep understanding of the current and emerging challenges facing consumers and financial firms,” AFCA Independent Chair Professor John Pollaers OAM said when announcing the appointment today.

“We will also benefit from her insight into financial inclusion, as we seek to ensure all Australians have access to our ombuds service.

“The AFCA Board is made up of an independent and expert group of Directors holding extensive financial services industry and consumer experience and brings a breadth of knowledge operating across multi-dimensional and highly complex industries. The Board is committed to ensuring that AFCA continues be an effective external dispute resolution scheme for financial services, with a focus on efficiency and customer service, and providing clear member and community value.

“Ms Rickard’s deep knowledge and expertise in the consumer space will ensure AFCA continues to deliver against these goals and keeps an essential focus on ensuring consumer accessibility and inclusion.”

Ms Rickard has been Deputy Chair of the Australian Competition and Consumer Commission (ACCC) since June 2012. She has extensive public service experience and a passion for consumer protection, and has worked in a variety of senior roles, primarily at the ACCC and the Australian Securities and Investments Commission (ASIC). She is also an Associate Member of the Australian Communications and Media Authority.

“Throughout her illustrious career, Ms Rickard has had a strong interest in financial services and the impact of the financial services industry on vulnerable and disadvantaged consumers. She oversaw development of the highly regarded Moneysmart website at ASIC, and has been a member of numerous committees at the ACCC, including those on the consumer data right, enforcement and compliance, and product safety. She has also been a member of the ACCC’s Financial Services Competition Board, and she chaired the ACCC’s market study into the cost of insurance in Northern Australia,” Prof. Pollaers noted.

Ms Rickard is also a trustee of the Jan Pentland Foundation, which provides scholarships for those who want to work as financial counsellors, and is the Chair of Good Shepherd’s Advisory Committee on Financial Inclusion Action Plans.

Ms Rickard was awarded the Public Service Medal in 2011 for her contribution to consumer protection and financial services. She has also been awarded the Society of Consumer Affairs Professionals Lifetime Achievement Award and was recently announced as the inaugural winner of the Law Council of Australia’s Consumer Rights Award.

Ms Rickard said: “AFCA plays a vital role in protecting consumers and in helping the financial services sector deliver the best possible service to its customers. I look forward to contributing to an organisation with such a strong sense of purpose, one that is having a real impact for consumers and the financial services sector.”

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Prof Pollaers’ appointment follows the Hon Helen Coonan’s term of office as AFCA’s inaugural Chair.

Prof Pollaers is Chancellor of Swinburne University of Technology, Chairman of the Australian Advanced Manufacturing Council and Chairman and Founder of Leef Independent Living Solutions Pty Ltd. He was formerly Chair of the Aged Care Workforce Strategy Taskforce for the Federal Government, Chairman of the Australian Industry and Skills Committee and a member of the Prime Minister’s Industry 4.0 Taskforce. He has had a distinguished executive career in both retail and advanced manufacturing industries.

The Hon Helen Coonan said she was pleased Prof Pollaers had been appointed to the role of Independent Chair and that he brought significant experience to AFCA.

“John is an experienced Chair and leader whose career is characterised by a commitment to strong governance and visionary strategic leadership. He has always created strong, effective relationships between industry, government and consumer bodies in all sectors he has been involved in. John’s independence and experience will be instrumental in driving AFCA’s vision to be a world-class ombudsman service into the future,” Ms Coonan said.

“John will make an excellent Chair. I wish both John and the Board well as they continue to deliver against AFCA’s vision and strategy,” Ms Coonan said.

Prof Pollaers said he was delighted to be joining the organisation, noting AFCA’s core purpose to deliver fair outcomes to members, consumers and small business.

“AFCA provides an essential service to the community. AFCA’s role to effectively work with financial firms, consumers and small business to resolve financial complaints, often in complex situations, is critical,” Prof Pollaers said.

“I am delighted to be working alongside a committed and experienced Board to support Chief Ombudsman and CEO David Locke as we continue to deliver on AFCA’s core purpose to provide fair and independent solutions for financial disputes, and support our members to raise standards and minimise disputes.”

AFCA’s Board thanked the outgoing Chair, the Hon Helen Coonan for her dedication and her commitment to building a world-class ombudsman service.

The Board acknowledged Helen’s outstanding contribution as AFCA’s inaugural Chair, when AFCA took over the work of three significant predecessor bodies to provide a single external dispute resolution service with a significantly expanded jurisdiction, an increased membership and the capacity to award significantly increased levels of financial compensation to consumers and small business.

“Helen has been an exceptional Chair of AFCA over the last three years establishing AFCA as an important national body, helping industry and thousands of consumers to resolve often intractable disputes. AFCA has worked with the financial services industry to promote best practice.”

During Ms Coonan’s tenure as Independent Chair, AFCA received over 188,000 disputes with over $522 million being paid in compensation to individual consumers and small business owners.

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