Consumer influence in CSLR board appointments

Australian Financial Complaints Authority (AFCA) board member, Delia Rickard has been appointed to the transition board of the Compensation Scheme of Last Resort.

It is a legislative requirement that an AFCA board member sit on the CSLR board and she will assume the position in April, next year, alongside David Berry who is chair of the Consumer Action Law Centre.

The CSLR is due to begin operations from April next year with Berry taking up his position this week,

“David will bring a unique set of skills and experience to this role which balance both industry and consumer perspectives,” a statement from the CSLR’s Transitional Board said.

“He has driven large-scale organisational, technological and process transformations in the financial services industry. He is also an advocate of positive change for the community, in particular protection of those most vulnerable to financial harm or disadvantage.”

The announcement said that Rickard is a widely respected and accomplished executive, with extensive public service experience and a passion for consumer protection.

“She has worked in a variety of senior roles, primarily at the Australian Competition and Consumer Commission and the Australian Securities and Investments Commission.

She is also an Associate Member of the Australian Communications and Media Authority. Ms Rickard has significant experience in both legal and regulatory compliance as well as risk management and is a current member of the AFCA Board and its Audit & Risk Committee.

Rickard will replace Andrew Fairley on the CSLR Transitional Board from 1 January 2024, when Fairley’s term on the AFCA Board ceases. This appointment meets the CSLR legislative requirement that a Director of AFCA must be appointed to the CSLR Board.