AFCA announces new board members

AFCA announces new board members | Insurance Business Australia

Insurance News

AFCA announces new board members

New hires have extensive experience as social justice leaders

Insurance News

By
Roxanne Libatique

The Australian Financial Complaints Authority (AFCA) has appointed Raylene Bellottie and Yien Hong as its new board members, effective Jan. 1.

The AFCA board is composed of an independent chair and several directors with consumer and industry experience, covering the multi-dimensional and highly complex industries AFCA deals with.

AFCA expects the new industry directors to bring a wide breadth of skills and knowledge to the board.

“Both of these highly successful women are the perfect fit for AFCA’s board, and their appointments ensure the organisation will continue to provide an independent, free, and fair external dispute resolution service for financial disputes in Australia,” said AFCA Independent Board Chair Professor John Pollaers OAM.

New AFCA board members

Bellottie, a Nanda woman from Yamatji country, has a wealth of expertise as an Aboriginal business director, consultant, and board member.

She has over 25 years of financial sector experience, is deeply committed to enhancing Indigenous financial literacy, and has served as the deputy chair of the First Nations Foundation (which strives to promote economic freedom for Aboriginal and Torres Strait Islander people) for over 10 years.

Bellottie gained valuable industry experience during her tenure at ANZ Bank. She eventually joined Credit Union Australia (CUA) as the national business development manager of First Nations accounts, where she played a key role in expanding the First Nations Portfolio from $17 million to over $200 million.

Currently, Bellottie is a business coach for the Waalitj Foundation, where she provides guidance and support to Aboriginal and Torres Strait Islander people to boost their competence and capability building. She is also a member and director of Yamatji Southern Regional Corporation and chairperson of Yamatji Funds Management Ltd. Previously, she held various roles with the Indigenous Advisory Group and the Indigenous Financial Service Network and was the deputy chairperson for Nanda Aboriginal Corporation.

Hong is a general counsel and company secretary at Judo Bank. She has held senior roles in Australia and internationally across firms including Deutsche Bank, NAB, and Linklaters. Before Judo Bank, she was a general counsel and company secretary at Growthpoint Properties Australia, an ASX-200 listed property fund. She was also a senior legal counsel at NAB, where she provided legal advice and support to the bank’s business banking division.

Hong’s international experience includes three years as the head of FX and Fixed Income Prime Brokerage Legal at Deutsche Bank in London, where she led a team that supported the structured derivatives business. Before joining Deutsche Bank, she held a senior role with global law firm Linklaters, where she delivered client solutions for private equity acquisitions, cross-border financings, and complex structured finance transactions.

Yien has also served as the director and chair of the Development Committee at YWCA Housing (YWCA Victoria), which provides accommodation and other services to disadvantaged women. Currently, she is a non-executive director of the Australian Arts Orchestra, one of Australia’s leading contemporary ensembles.

Bellottie and Hong will replace current AFCA board members Claire Mackay and Andrew Fairley AM.