The Compensation Scheme of Last Resort transitional board has appointed David Berry as inaugural CEO and Delia Rickard as a non-executive director, ahead of the scheme’s scheduled commencement in April 2024.

In a media release on Thursday, the scheme announced Berry will start as CEO on 11 December 2023, bringing extensive experience as an executive, non-executive director and consultant.

Rickard has worked in a variety of senior roles, primarily at the Australian Competition and Consumer Commission and ASIC. She is also an associate member of the Australian Communications and Media Authority.

She has significant experience in both legal and regulatory compliance as well as risk management and is a current member of the AFCA board and its audit & risk committee.

Rickard will replace Andrew Fairley on the CSLR transitional board from 1 January 2024, when Fairley’s term on the AFCA board ceases. This appointment meets the CSLR legislative requirement that a director of AFCA must be appointed to the CSLR Board.

In accordance with legislation, the ongoing CSLR Board will also include an independent chair to be appointed by the Minister of Financial Services, and a director with actuarial experience appointed by the transitional board.

Legislation to establish the CSLR was passed in June 2023 and the scheme is scheduled to start receiving claims in April 2024.