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The newly formed National Financial Ombud Plan (NFO) has appointed Reana Steyn as its first head ombud. (Provided/NFO)
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The newly formed National Financial Ombud Plan (NFO) has appointed former lead banking ombud Reana Steyn as its first head ombud.
The NFO began working on 1 March as a single, overarching, all-in-one dispute decision provider following the amalgamation of four former bodies: the Ombudsman for Banking Services (OBS); the Credit Ombud (CO); the Ombudsman for Prolonged-Time length Insurance coverage (OLTI); and the Ombudsman for Short-Time length Insurance coverage (OSTI).
The Ombud Council granted the NFO recognition as an swap ombud plot on 23 February 2024, with complaints allowed to be licensed from 1 March 2024.
“Reana is bestowed with the duty of making this fresh workplace and feature to provide an efficient monetary ombud plot,” NFO board chair, Haroon Laher, mentioned in a commentary dated 9 April.
“The amalgamation of the four predecessor monetary ombud schemes required a valorous step of uniting the schemes and their workers. Reana’s music document, armed along with her expertise in investigations and complaints in the credit rating and banking sectors, provides credence to her appointment as the head ombud of the NFO.”
Before Steyn’s appointment as the lead banking products and services ombud in 2017, she held different positions, at the side of deputy credit rating ombud, senior manager in the regulatory and compliance products and services division at KPMG and was once the principle exact manual at the National Credit Regulator (NCR).
She holds a BCom (law) and an LLB and is an admitted lawyer, having spent about nine years at exact firm Norton Rose Fulbright.
Steyn was once also the principle woman to shield the feature of ombud for banking products and services.
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“Reana’s intensive expertise and mountainous expertise with the OBS, Credit Ombud and at one among the main insurers, as effectively as her management feature, her qualification as an lawyer, coupled along with her folks administration expertise and practicing of workers of the previous schemes, provide her with a engaging perspective and means feature that I undoubtedly enjoy absolute self perception will encourage her effectively in this fresh feature,” mentioned Laher.
He added that the feature of the fresh NFO head ombud will likely be to signify the physique to all its stakeholders and oversee the total shared products and services capabilities of the fresh plot. This can encompass working with and supporting the four divisional lead ombuds.
“The institution of the NFO has the biggest feature to play in holding and promoting the rights of all collaborating stakeholders, the rule of law and appropriate governance,” mentioned Laher.
“Reana is very fashionable during the monetary swap and I’m confident that she’s going to continue to be a champion of these big principles.”
