AFCA appoints new head of its banking code compliance committee

  • By Zilla Efrat

Prue Monument has joined Australian Financial Complaints Authority (AFCA) as general manager of code compliance and monitoring and is its new CEO of the banking code compliance committee.

Rene van de Rijdt, who has been acting in the role since March, has taken up the new position of deputy general manager.

The banking code of practice is monitored by an independent code compliance committee, as are the customer owned banking code of practice, the general insurance code of practice, the insurance brokers code of practice, and the life insurance code of practice.

Monument joins AFCA from Australia’s higher education regulator, the Tertiary Education Quality and Standards Agency, where she was executive director, quality assurance & regulatory operations.

She was previously director of compliance at the Australian Charities and Not-for-profits Commission.

She has also held senior roles in the Department of Immigration and Border Protection, including as national manager of the Allegations Assessment Team.

AFCA CEO and Chief Ombudsman David Locke says Monument brings to the team extensive regulatory and self-regulatory experience, and a strong focus on practice improvement and public benefit.

“She will ensure that both financial firms and consumers benefit from the work the code team does to monitor and influence good industry practice.”