AFCA appoints new board member
Gerard Brody has been appointed to the Australian Financial Complaints Authority (AFCA) board, replacing Elissa Freeman from May 4, while Director Jennifer Darbyshire’s term was extended for another three years.
Melbourne-based Mr Brody spent a decade as CEO at advocacy organisation Consumer Action Law Centre, which provides legal assistance and financial counselling, and is Chairman at peak body Consumers’ Federation of Australia.
He brings policy, regulatory, legal and consumer experience to the dispute resolution scheme, AFCA Chair John Pollaers says, and will assist its focus on efficiency, customer service and providing clear member and community value.
“Mr Brody’s broad experience will be invaluable as AFCA delivers against these goals,” Mr Pollaers said. “He has a thorough understanding of the contemporary challenges facing consumers and firms.”
Mr Brody is on the boards of the Energy & Water Ombudsman Victoria, Telecommunications Industry Ombudsman and Community Legal Centres Australia, and spent almost three years as Senior Manager Financial Inclusion at the Brotherhood of St Laurence.
Dispute services like AFCA are critical to consumer protection, he says.
“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,” Mr Brody said.
“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.”
AFCA’s board includes eight directors with expert knowledge spanning insurance, banking and finance, investments and advice, and superannuation.
Carmel Franklin, Delia Rickard, Erin Turner, Gary Dransfield, Andrew Fairley and Claire Mackay are the other six directors alongside Mr Brody and Ms Darbyshire. Former Suncorp Insurance CEO Mr Dransfield began his three-year term at the start of 2023.
AFCA’s external dispute resolution scheme expects to register about 100,000 complaints this financial year and has secured $1 billion for complainants since it began in late 2018. General insurance makes up 24% of AFCA’s business.