AFCA appoints new industry directors

The Australian Financial Complaints Authority (AFCA) has welcomed indigenous financial literacy advocate, Raylene Bellottie, and banking executive, Yien Hong, to its board as Industry Directors.

Succeeding current board members, Claire Mackay and Andrew Fairley AM who joined the board in 2018, Bellottie and Hong bring tens of decades of experience across Aboriginal consultancy and secretarial roles in financial services.

“Both of these highly successful women are the perfect fit for AFCA’s board, and their appointments ensure the organisation will continue to provide an independent, free and fair external dispute resolution service for financial disputes in Australia,” AFCA’s independent Board Chair, Professor John Pollaers OAM, said.

“Claire and Andrew played such an important part in AFCA’s first five years, as founding directors.

“They both provided invaluable knowledge and expertise during their tenures and we thank them for the significant contributions they have made in helping AFCA to become the world-class ombudsman service it is today.”

Bellottie has close to 30 years of financial services experience and has served as the Deputy Chair of the First Nations Foundations for over 10 years. Her prior roles include tenure at ANZ Bank and Credit Union Australia (CUA), where she grew the latter’s First Nations Portfolio from $17 million to over $200 million.

“Raylene’s remarkable career in the finance sector along with her experience working with small businesses, means she has a strong understanding of the important work AFCA does,” Pollaers said.

Hong is currently General Counsel and Company Secretary at Judo Bank, but has held previous senior roles at Deutsche Bank in London, NAB, Linklaters and Growthpoint Properties Australia. Her roles spread across foreign exchange, fixed income, private equity acquisitions and transactions, and cross-border financing.

“Yien’s impressive executive career, strong legal background and solid understanding of governance, underpinned with a strong sense of social justice, makes her an excellent fit for AFCA and an important addition to the board,” Pollaers said.