OBSI Board Announces New Consumer Interest Director

Toronto, September 24, 2020 – The board of directors for the Ombudsman for Banking Services and Investments (OBSI) announced the appointment of Wanda Morris to the board as its first director to be designated a Consumer Interest Director.

In May, the board approved changes to the organization’s Bylaw to require at least one director to be designated a Consumer Interest Director. A Consumer Interest Director will have a particular interest in, access to, and experience representing the interests of the types of consumers which OBSI serves.

“We are very pleased to have Wanda join our board to play this important new role,” said Jim Emmerton, Chair, OBSI. “Wanda brings tremendous knowledge and experience in consumer financial matters and seniors’ issues, and she has demonstrated great leadership as the Chair of OBSI’s Consumer and Investor Advisory Council (CIAC). We look forward to her contributions in the governance of OBSI as the Consumer Interest Director.”

Ms. Morris is a CPA and financial and consumer advocate. As a former Chief Advocacy and Engagement Officer for CARP and CEO of Dying with Dignity Canada, she led public advocacy campaigns on a number of issues including investor protections, pension security, medical aid in dying, and safety in long-term care.

Ms. Morris is a frequent media commentator on consumer and seniors’ issues and her writing has appeared in various publications including the Vancouver Sun, the Edmonton Journal and Zoomer Magazine.

Her appointment is effective immediately following approval at the board’s quarterly meeting held yesterday. The selection process was conducted by the organization’s Governance and Human Resources Committee, which identifies new independent board members based on a skills matrix that balances diversity, geography and a variety of backgrounds and skills.

In accepting this role, Ms. Morris has resigned as Chair of the CIAC. The process for appointing a new Chair of the CIAC is underway.  

OBSI’s board consists of 10 directors: seven Community Directors (at least one of which is designated the Consumer Interest Director), who have not been part of industry or government for at least two years; and three Industry Directors, who are appointed from shortlists of nominees provided by designated industry bodies.

OBSI's Consumer and Investor Advisory Council provides the board with the perspective of consumers and investors, complementing the input OBSI receives from industry stakeholders, community and consumer organizations, and regulatory and government officials.

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Canada’s Ombudsman for Banking Services and Investments (OBSI) is a national, independent and not-for-profit organization that helps resolve and reduce disputes between consumers and financial services firms in both official languages. OBSI is responsive to consumer inquiries, conducts fair and accessible investigations of unresolved disputes, and shares its knowledge and expertise with the stakeholders and the public. If a consumer has a complaint against an OBSI participating bank or investment firm that they are not able to resolve with the bank or firm, OBSI will investigate at no cost to the consumer. Where a complaint has merit, OBSI may recommend compensation up to a maximum of $350,000.

For more information, contact:

Mark Wright, Director, Communications and Stakeholder Relations
416-287-2877 ext.2225
mwright@obsi.ca