The Australian Financial Complaints Authority (AFCA) has welcomed seasoned lawyer Gerard Brody to its independent board, effective May 4, 2023.
Brody (pictured) 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 providing legal assistance and financial counselling – for 10 years until February 2023.
Brody is also an experienced director, having 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. Additionally, he is the chair of the Consumers' Federation of Australia, the peak body for consumer organisations in Australia.
Professor John Pollaers OAM, AFCA's independent chair, welcomed Brody to the board.
“Mr Brody brings to the board his policy, regulatory, legal, and consumer experience,” Pollaers said. “He has a thorough understanding of the contemporary challenges facing consumers and firms.”
Brody, who will serve in the board for three years, 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.”
Brody will replace Elissa Freeman, who served on the predecessor Financial Ombudsman Service's board and then the inaugural AFCA board for around nine years.
Professor Pollaers commented: “As a founding board member, Elissa played an important role in the creation of AFCA. 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.”
The AFCA board is composed 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 industries AFCA covers, namely: insurance, banking and finance, investments and advice, and superannuation.
Early this month, the board reappointed David Locke as its chief ombudsman and CEO for another five years. It also extended the current term of Jennifer Darbyshire, a founding board member who has senior executive experience in governance, law, and risk across numerous sectors and in various roles and organisations, including most recently the National Australia Bank.
“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.”
