Caroline Wayman, Chief Ombudsman & Chief Executive, Financial Ombudsman ServiceThe Financial Ombudsman Service is the UK's largest provider of alternative dispute resolution, providing a free service to their consumers when they have a problem with their bank, insurer or other financial service provider. The ombudsman service handles over 5,000 enquiries a day and resolved over 400,000 complaints last year. Ombudsman decisions of up to £150,000 are binding on the financial business, if accepted by the consumer.
At this breakfast briefing you will hear from Caroline Wayman who has been Chief Ombudsman and Chief Executive since 2014. Caroline will speak about the role of the ombudsman service in helping to deliver fairness in finance, how the organisation is confronting current challenges and how it shares insight to improve fairness in financial services.
About the speaker
Caroline was appointed chief ombudsman and chief executive of the service in July 2014. She is an experienced member of the strategic leadership team, having first been appointed to the executive in 2011 as principal ombudsman and legal director.
In her 15 years at the ombudsman, Caroline has helped lead the organisation through substantial change, as the demand for its help has reached unprecedented levels.
As principal ombudsman, Caroline led a panel of over 200 ombudsmen and was responsible for both the consistency of the panel’s decision-making and their professional leadership. And as legal director, Caroline led the ombudsman’s in-house legal team, advising the executive and the board on all legal issues. Before that, Caroline led the teams that handled a quarter of a million mortgage endowment complaints, before she went on to lead the ombudsman’s response to the PPI judicial review. Caroline was instrumental in formulating the ombudsman’s approach to the ensuing PPI cases which have reached the ombudsman service at levels never seen before. To date, close to 1.5 million people have asked the ombudsman for help with their PPI dispute.
Caroline was called to the bar and spent her early career working in the insurance industry before joining the Insurance Ombudsman Bureau in 1999. Her work away from the ombudsman service includes her role on the board of the Claims Management Regulator, which she joined in 2014.