The newly-formed National Financial Ombud Scheme (NFO) today announced the appointment of its first Head Ombud, Reana Steyn.
“Reana’s extensive expertise and vast experience with the OBS, Credit Ombud and at one of the leading insurers, as well as her leadership position, her qualification as an attorney, coupled with her people management experience and training of staff of the previous schemes, provide her with a unique perspective and skillset that I have no doubt will serve her well in this new role,” says Board Chairperson, Haroon Y Laher.
“Reana’s track record, armed with her experience in investigations and complaints in the credit and banking sectors, gives credence to her appointment as the Head Ombud of the NFO.” Before her appointment as Lead Ombudsman for Banking Services in 2017, Steyn held
positions such as the Deputy Credit Ombud, Senior Manager in the Regulatory and Compliance services division at KPMG, was the first legal advisor at the National Credit Regulator, as well as a legal advisor for a leading insurance company.
Steyn holds B Com (Law) and LLB degrees and is an admitted attorney, having spent about nine years of her career at the international firm of Norton Rose Fulbright, before she entered the credit, regulatory compliance in 2006 and in 2010, the Ombuds world. She was the first woman to hold the position of Ombudsman for Banking Services.“Reana is bestowed with the task of establishing this new office and role to build an effective financial ombud scheme. In doing so, she will identify and deliver initiatives that will improve the performance and outcomes of the NFO for all its stakeholders,” adds Laher.
“The amalgamation of the four predecessor financial ombud schemes required a bold step of uniting the schemes and their staff in the direction of the NFO’s new mission, “ Laher continues. “The board resolved to have a role dedicated to leading the NFO as a head ombud and chief executive officer. This role will involve, amongst others, developing and implementing the NFO’s strategy and objectives. More importantly, the Head Ombud will represent the NFO to all its stakeholders.”
“The role of the Head Ombud is also to oversee all the shared services functions of the new scheme and to work with and support the four divisional Lead Ombuds, and bring together talent that will serve the interests of all stakeholders of the NFO. The institution of the NFO has a vital role to play in protecting and promoting the rights of all participating stakeholders, the rule of law and good governance. Reana is highly regarded within the financial industry and I am confident that she will continue to be a champion of these great principles.”
