Annual Review 2021–22
Contents
- About this Annual Review
- Year at a glance
- Acknowledgement of country
- Board Chair message
- Chief Executive Officer and Chief Ombudsman message
- Organisational overview
- AFCA Independent Review
- Complaints
- Who complained to AFCA?
- Overview of complaints
- Open cases
- Closed cases
- Banking and finance complaints
- Buy now pay later
- Financial difficulty complaints
- Scams
- Small business complaints
- General insurance complaints
- Significant events
- Life insurance complaints
- Superannuation complaints
- Investments and advice complaints
- Cryptocurrency
- Complaints lodged by consumer advocates and financial counsellors
- Legacy complaints
- Complaints outside AFCA’s Rules
- Systemic issues
- Code compliance and monitoring
- Previous schemes
- Engagement, awareness and accessibility
- Corporate information
- AFCA General Purpose Financial Report 2021–22
- Appendix 1
- Glossary
Our Board
AFCA is governed by a Board of Directors.
The Board of Directors consists of an independent Chair and an equal number of Directors with consumer and industry experience.
The Board exercises its powers to ensure the independence, integrity and fairness of AFCA’s decision-making process is maintained. The Board also makes sure AFCA is appropriately resourced to deliver our services in a timely, efficient and effective manner.
The Board is responsible for appointing an independent Chief Ombudsman and CEO, who is delegated authority for the day-to-day management of AFCA by the Board.
The Board also appoints ombudsmen, adjudicators and panel members who make decisions on complaints dealt with by AFCA. AFCA’s Company Secretary and the Independent Assessor are also appointed by the Board.
In 2021–22, the Board met five times, in accordance with its scheduled meetings.
“Thank you again for your invaluable assistance through the time you have been involved in the complaint. You have always responded promptly and have been outstanding in the work you have done. ”
