The Australian Financial Complaints Authority has welcomed Swati Dave, who has over 30 years of banking and financial sector experience, to its independent board.
The authority says Dave has held senior roles at National Australia Bank, Deutsche Bank, AMP Henderson Global Investors, Bankers Trust and Westpac.
She was most recently the Managing Director and CEO of Export Finance Australia and has also served on a number of diverse boards including as a non-executive director of State Super, Australian Hearing and Great Western Bancorp, Inc.(USA).
AFCA’s Independent Chair, John Pollaers OAM says Dave brings to the board “…a deep commitment to excellence, innovation and social impact. Her leadership and expertise have enabled her to make significant contributions to the various organisations in which she has served, and we look forward to benefiting from her experience and insights.”
The authority notes its Board has an independent group of directors with extensive financial services industry and consumer experience.
Its eight directors bring together a breadth of knowledge across the industries AFCA covers – banking and finance, insurance, investments and advice, and superannuation.
AFCA states it provides “…free, fair and independent help with financial disputes for consumers and small businesses and their financial firms.”
…in the past financial year consumers and small businesses sent a record 97,000 complaints to AFCA…
In the past financial year consumers and small businesses sent a record 97,000 complaints to AFCA. It has helped secure $1.1 billion in compensation and refunds for complainants since it began work in November 2018 (see: Sharp Decline in Life Insurance Complaints).
Dave says that a fair and trusted financial services sector “…underpins our country’s continued success and I’m excited to be joining the board as we continue to evolve as a world leading ombudsman.”
She replaces Jennifer Darbyshire, who was a founding board member of AFCA.
Dave’s appointment is for three years.
