Message from the Chairman
|
This year a number of significant steps were taken by the Board to ensure the quality of the Scheme’s work remains of a high standard.
|
Stakeholder survey
|
The Board commissioned a community and other stakeholder survey which was completed in late 2006. The survey consisted of qualitative surveys of the general public, telephone enquirers to BFSO and members.
The results of the survey were very similar to a survey previously conducted by the Board in 2003, despite the broader role that BFSO now plays.
The survey showed that public awareness of BFSO is around 60 per cent in the Australian community. In addition, the survey found that there was a high level of customer service afforded to telephone enquirers by BFSO Case Officers. Some helpful suggestions were made in the report and that has led to a number of initiatives during the year in review, including a ramped up programme of promoting our services to the community, with a particular focus on raising awareness of BFSO amongst young people.
|
Financial Ombudsman Service
|
The Board is also pleased to report that the Scheme has worked on a number of joint initiatives with IOS and FICS under the Financial Ombudsman Service (FOS) name during the year in review. The provision of joint information technology services for FOS is working well and a number of other collaborative activities, including the jointly hosted International Financial Services Ombudsman Conference, have been completed successfully.
The Board looks forward to a continuing working relationship with all dispute resolution schemes operating in the financial services area, and in particular, a close working relationship with IOS and FICS. A decision in principle to merge BFSO with IOS and FICS has been made by the Boards of the three schemes, subject to the legal and regulatory requirements being satisfied. The Board has been supportive of greater cooperation between the three schemes for many years and views the establishment of a single scheme as serving the interests of both consumers and industry participants.
|
 |
|
Changes to the Board
|
Su Mahalingham, a Consumer Representative, retired after five years’ service. I would like to thank her for her positive contribution to the Scheme. Fiona Guthrie joined the Board in May 2007.
Jill Lester, a Member Representative, retired after almost six years’ service. I would like to thank her for her outstanding contribution to the affairs of the Scheme during her term of office. Susie Upton of Westpac joined the Board in November 2006.
|
Thank you
|
On behalf of the Board, I thank the Ombudsman and his staff, not only for their usual solid contribution, but for the enthusiasm which they bring to their tasks on behalf of the Scheme. The Board looks forward to working with them in the year ahead.
|
|
|
