The Code Compliance Monitoring Committee (CCMC) is pleased to announce the appointment of Christopher Doogan AM as its new Chairman.
Mr Doogan will take up his chairman’s role today for a term of three years.
Mr Doogan succeeds Mr Brian Given PSM as the Committee Chair. Mr Given served the CCMC with distinction as its chairman for four years.
Mr Doogan is a lawyer by profession, a trained mediator, has been a board chairman of a mutual bank and a health insurance company, and was previously Director of Investigations for the Commonwealth Ombudsman.
The CCMC is comprised of three members – Mr Doogan as independent Chair, Gordon Renouf representing consumers and small business, and Sharon Projekt representing the banking industry. The CCMC was established in April 2004 to independently monitor compliance by code subscribers with the Code of Banking Practice (Code) and investigate complaints that the code’s obligations may have been breached.
The Code sets out the banking industry’s key commitments and obligations to customers on standards of practice, disclosure and principles of conduct for their banking services. The Code applies to personal and small business bank customers.
The appointment of Mr Doogan was jointly made by the Chief Ombudsman of the Financial Ombudsman Service (FOS), which is the key dispute resolution scheme for retail banks and their individual and small business customers, and the Australian Bankers’ Association (ABA).
FOS’ Chief Ombudsman, Shane Tregillis, said: “I welcome Mr Doogan’s appointment and look forward to working with him in his new role. At the same time, I thank Brian Given for the significant contribution he made to this self-regulatory framework. Like Brian, Chris brings an extensive legal, academic and public administration background to the role of independent Chair of the CCMC.”
Steven Münchenberg, Chief Executive of the ABA, said: “Mr Doogan’s wide-ranging experience in the law, the public and private sectors, as well as his board experience, will be an asset to the CCMC and bank customers. It’s good timing for the CCMC to get a new Chairman just as the revised Code of Banking Practice starts on February 1. Banks have committed to acting fairly, responsibly and transparently – values which the Code embodies. As the independent Chairman of the CCMC, Mr Doogan will ensure that banks’ compliance with Code is monitored and this is an important check and balance for all banking customers.”
In accepting his appointment, Mr Doogan said: “The Code is a good example of self-regulation within the banking industry that has been developed to foster sound banking practice in an atmosphere of fairness and equity in the daily dealings between banks and their customers. I look forward to building on the excellent work of my predecessor, Brian Given, and hope that my legal, executive and Board background will complement the strong professional skills brought to the CCMC by the other members.”
The full press release can be found here