The Minister for Finance on 29 October 2008 appointed the following as members of the Financial Services Ombudsman Council for a five year period.
- Dermott Jewell Chairperson ( Consumers Representative)
- Michael Connolly ( Consultant)
- Paddy Leydon (Bank of Ireland )
- Tony Kerr ( UCD College of Business and Law)
- Caitriona Ni Charra (MABS)
- Frank Wynn (Irish Life & Permanent plc)
Jim Bardon is Secretary to the Council.
The main functions of the Council as laid down in the Act are to:
- Appoint the Financial Services Ombudsman and each Deputy Financial Services Ombudsman
- Prescribe guidelines under which the Ombudsman is to operate
- Determine the levies and charges payable for the performance of services provided by the Ombudsman
- Keep under review the efficiency and effectiveness of the Bureau and to advise the Minister on any matter relevant to the operation of the Bureau, and
- Advise the Ombudsman on any matter on which the Ombudsman seeks advice
The Council has no role regarding complaints resolution as this is the independent function of the Financial Services Ombudsman.