The Australian Financial Complaints Authority (AFCA) has appointed outgoing Australian Competition and Consumer Commission (ACCC) deputy chair Delia Rickard to its board for a three-year term starting next month.
Rickard joins the AFCA board after 10 years as deputy chair of the ACCC and prior to that she was a senior executive at the Australian Securities and Investments Commission (ASIC).
AFCA independent chair Professor John Pollaers said: “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.
“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 multidimensional and highly complex industries. The board is committed to ensuring that AFCA continues to 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.
“She has a deep understanding of the current and emerging challenges facing consumers and financial firms.
“We will also benefit from her insight into financial inclusion as we seek to ensure all Australians have access to our ombuds service.
Responding to the appointment, 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.”
