AFCA strengthens team

23 May 2019
| By Oksana Patron |
image
image image
expand image

The Australian Financial Complaints Authority (AFCA) has announced it will be recruiting a new deputy chief ombudsman and general counsel to support AFCA through its rapid growth and the expansion of its jurisdiction.

Chief ombudsman and chief executive, David Locke, said that AFCA experienced an unprecedented level of complaints in six months of operation, with over 35,000 consumers and small businesses having had raised complaints with AFCA.

“This is extraordinary and really reflects an increased awareness by consumers of their rights, and an increased willingness to complain,” Locke said.

“Appointing the key senior roles of deputy chief ombudsman and general counsel will ensure AFCA is able to deliver a fair, proactive and customer-focused dispute resolution service in a rapidly changing, complex operating environment.”

He stressed that organisational culture and leadership would be a key focus to AFCA which would be also looking to work with the financial firms who are members to improve their Internal Dispute Resolution (IDR) practices.

In addition to this, AFCA would be also recruiting a lead ombudsman – banking and finance, following the resignation of Philip Field who would finish up at AFCA at the end of July.

Read more about:

AUTHOR

Recommended for you

sub-bgsidebar subscription

Never miss the latest developments in Super Review! Anytime, Anywhere!

Grant Banner

From my perspective, 40- 50% of people are likely going to be deeply unhappy about how long they actually live. ...

1 year 10 months ago
Kevin Gorman

Super director remuneration ...

1 year 10 months ago
Anthony Asher

No doubt true, but most of it is still because over 45’s have been upgrading their houses with 30 year mortgages. Money ...

1 year 10 months ago

Widespread member disengagement is having a detrimental impact on retirement confidence, AMP research has found....

13 hours ago

Economists have warned inflation risks remain elevated even as the RBA signals policy is sitting near neutral after its latest hold....

13 hours ago

Introducing a cooling off period in the process of switching super funds or moving money out of the sector could mitigate the potential loss to fraudulent behaviour, the ...

12 hours ago

TOP PERFORMING FUNDS

ACS FIXED INT - AUSTRALIA/GLOBAL BOND