Appointment of Ms Eileen Meyer as Chairperson of the Ombud Council Board of Directors
The Minister of Finance, Mr Enoch Godongwana, has, in terms of section 180, read with section 181(2) of the Financial Sector Regulation Act, 2017 (FSR Act), appointed Ms Eileen Meyer as a board member and Chairperson of the Ombud Council, for a period of four (4) years, effective from 1 November 2023.
The Ombud Council was established in 2020 in terms of section 175 of the FSR Act. The Ombud Council is the regulator of ombuds schemes within the financial sector, and its objective is to, in line with the Twin Peaks model of financial regulation objectives of treating customers fairly, assist in ensuring that financial customers have access to, and are able to use affordable, effective, independent and fair alternative dispute resolution processes for complaints about financial institutions in relation to financial products, financial services and services provided by financial infrastructures.
The Ombud Council has oversight powers over both the statutory and industry ombuds namely:
(i) Office of the Pension Fund Adjudicator;
(ii) Office of the Ombud for Financial Services Providers (FAIS Ombud);
(iii) Office of the Credit Ombud;
(iv) Ombudsman for Long-Term Insurance;
(v) Ombudsman for Short-Term Insurance;
(vi) Ombudsman for Banking Services; and
(vii) Johannesburg Stock Exchange Ombud.
The Ombud Council is responsible for recognising industry schemes, set enhanced governance and accountability requirements, and harmonise and strengthening standards of practice for each ombud scheme through rule-making and enforcement powers, to develop a uniform and consistent framework for external dispute resolution mechanisms across the financial services sector.
Ms Meyer is an Independent Public Management Consultant. She focuses on Strategic Leadership, Institutional Building and Capacity Development, Financial Management, Governance and Change Management. She holds a Master of Arts in Sociology (Major), Psychology and Political Science degree from the University of Hannover (Germany).
Ms Meyer was instrumental in establishing the office of the Ombud Council and performing functions as an interim Chief Ombud (CEO) for a period of 18 months, from 1 May 2021 until the appointment of Ms Leanne Jackson as a full-time CEO on 1 November 2022.
The Minister has also reappointed Adv Dikeledi Chabedi, Mr Adam Horowitz, Mr Emmanuel Lekgau and Ms Charmaine Soobramoney as members of the Ombud Council Board of Directors. The Commissioner of the Financial Sector Conduct Authority, Mr Unathi Kamlana, is an ex officio member of the Board of Directors.
The Minister would like to thank the former Chairperson of the Ombud Council Board of Directors, Ms Silindile Kubheka, who has now vacated her position on the Board of Directors.
Minister Godongwana congratulates Ms Meyer and all the board members on their appointments and wishes them well in the important tasks of enhancing the fair treatment of financial sector customers.
For enquiries please email media@treasury.gov.za
