International Ombuds Association
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Growing Pains: Staying Relevant in a Changing Organization
Thursday, October 13, 2016
Category: Webinars

Growing Pains: Staying Relevant in a Changing Organization

Course Description

After establishing an Ombudsman’s Office from the ground up, where do you go next? How do you maintain a relevant practice that evolves along with the needs of the organization without compromising independence, neutrality and confidentiality? The session leaders will discuss strategies and techniques for 1) obtaining and retaining support from senior management for the Ombudsman role including making the case for additional resources despite organizational or leadership changes and budgetary constraints; 2) building trust by increasing transparency and engaging in frequent dialogue with stakeholders; and 3) maximizing organizational impact by developing and proposing suggestions for improvements in policies and procedures without compromising the informal nature of the Office.

Learning Objectives

  1. Garnering and maintaining management support for the Ombudsman role at all levels within the organization; 
  2. Establishing and maintaining trust with both internal and external constituents; 
  3. Making a case for growing and developing the Ombudsman’s Office; and 
  4. Sustaining momentum in the Office and avoiding Ombudsman fatigue.

Biographies

Cindy Foster is the Ombudsman for the Financial Industry Regulatory Authority (FINRA). Ms. Foster leads a team responsible for assisting FINRA constituents, including investors, brokers, and brokerage firms, with resolving conflicts or addressing concerns related to FINRA. Since becoming Ombudsman in 2009, Ms. Foster has significantly increased transparency, engagement, and dialogue with both FINRA management and constituents about the work of the Ombudsman’s Office. Since 2011, Ombudsman staff has made over 20 suggestions that have resulted in policy and procedural improvements, system changes or communication enhancements. In 2013, Ms. Foster also began a series of discussions with senior management regarding the benefits of providing information to external constituents about the work of the Office. As a result, the first Office of the Ombudsman Annual Report was published in 2014 and provides external constituents with insight into the issues addressed by the Office.

Ms. Foster has more than 20 years of experience with FINRA in various capacities, including as a Senior Analyst responsible for investigating manipulation and fraud in the securities markets. As the Associate Director & Project Lead for Member Firm Coordination in Market Regulation, Ms. Foster worked closely with chief compliance and technology officers at brokerage firms, NASD senior management, and the Securities and Exchange Commission (SEC) on the implementation of the Order Audit Trail System (OATS). Ms. Foster established an OATS support desk to assist firms with rule-related questions and reporting issues. She also implemented Market Regulation’s first OATS compliance program. In 2000, Ms. Foster joined SunGard Trading Systems (STS), a financial services software company. As Chief Compliance Officer she advised STS executive management, as well as its clients, on the impact of securities industry rules and regulations on order management and trade execution systems. In 2003, she was promoted to Executive Vice President and in addition to her role as Chief Compliance Officer; she assumed responsibility for Product Management, Technology, Quality Assurance, and Client Services. Ms. Foster has both Master of Business Administration and Master of Science degrees from the University of Maryland University College. She also completed the FINRA Leadership Program at the Wharton School of Business, University of Pennsylvania.

Ms. Foster currently serves on FINRA’s Pension/401(k) and Chairman’s Award Committees and as an executive mentor in FINRA’s Inspired to Lead Program. She also served as an inaugural member and past Co-Chair of FINRA’s Diversity Leadership Council.