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State seeks Bill Prasifka obmudsman successor

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Bill Prasifka

Bill Prasifka

Bill Prasifka

The State has advertised for a new financial services ombudsman, as Bill Prasifka's term in office comes to an end.

A former chairman of the Competition Authority, Mr Prasifka has been ombudsman since 2010.

The ombudsman investigates and decides on disputes between consumers and financial providers.

Mr Prasifka has been heavily criticised by the Oireachtas Finance Committee and FLAC as his office finds against consumers in seven out of 10 cases that are determined by it.

The ombudsman's office is being merged with that of the pension ombudsman, which means the new position will be called the financial services and pensions ombudsman.

The appointment is for five years. It carries a salary of €143,640, with 30 days' holiday.

The job specification says international and domestic travel will be required to attend conferences and legal hearings.

Last September Mr Prasifka went on a 14,000km round-trip to the Caribbean islands of Trinidad & Tobago to attend a conference.

The Finance Committee issued a report last summer calling on the ombudsman to use his existing powers to "the full extent". Mr Prasifka responded by saying that he is constrained by law and that he has used his powers as fully as possible.

Irish Independent