AFCA Appoints New CEO And Chief Ombudsman

Whenever someone has a complaint regarding a financial advisor in Australia, they turn to the Australian Financial Complaints Authority, which helps resolve the matters quickly, cleanly and definitively. The dispute resolutions body has been looking for people to fill the vacancies in its hierarchy, and it’s decided on someone.

A community sector and charities specialist, David Locke will take the positions of Chief Ombudsman and CEO of the group, effective from the 25th of June. AFCA Chair of the Board, Helen Coonan, gave details on the appointment and the appointee.

Currently, Mr. Locke, a stand out financial advisor in Australia, operates as the assistant commissioner of charity services at the Australia Charities and Not-for-profits Commission (ACNC), which regulates about 55,000 charities across Australia. He is also the chief adviser to the ACNC taskforce and has been responsible for managing several key functions for the organisation since his joining back in 2012.

The appointee had previously served as the Charity Commission of England and Wales’ Executive Director, where he was in charge of strategically leading and delivering the commission’s one-to-one services to its affiliated charities, which number at about 180,000 charities.

Ms. Coonan commented on the appointment, saying that David Locke brings an outstanding track record as an experienced senior leader dealing with the complexities of operating a legal and regulatory service-based organisations in the AU and the UK. She says that his appointment comes at a key point at AFCA’s operations, as the new complaints body for the financial sector.

Coonan points to Locke’s varied experience, having dealt with stakeholders from across the spectrum, from regulators, government, senior management in the business community, on top of having worked with people with notable vulnerabilities. She believes that Locke will bring key insight and useful energy to AFCA which she says AFCA needs to restore the people’s trust in financial services.

AFCA is the newly formed financial dispute resolutions body, which covers the Credit and Investments Ombudsman (CIO), the Financial Ombudsman Service (FOS), and the Superannuation Complaints Tribunal (SCT), aimed at acting as a ‘one-stop shop, providing both consumers and small-scale business with access to free, quick and binding dispute resolution for issues regarding the financial sector.

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