To support a broadened policy and advocacy remit, the Mortgage & Finance Association of Australia has expanded its in-house policy expertise with a new appointment.
Stefania Riotto has joined the organisation as Senior Policy Specialist and comes to the MFAA with over 20 years’ senior leadership and business development experience across aggregators, non-bank lenders and major banks.
Stefania has extensive expertise and knowledge of the broking industry and was heavily involved with the ASIC Broker Remuneration Review in 2016, and the industry’s response to the Financial Services Royal Commission.
“I’m looking forward to working with the team at the MFAA, and its members, to drive policy positions that acknowledge the work of brokers, the industry’s commitment to compliance and positive consumer outcomes,” Stefania said.
“Joining the MFAA is a fantastic opportunity to contribute to the industry and influence continued positive change.”
MFAA CEO Anja Pannek welcomed Stefania to the team, noting that Stefania’s appointment will continue to bolster the already significant advocacy firepower of the MFAA.
Ms Pannek added “With a relatively stable regulatory environment for the industry, the MFAA continues to expand its remit to advocate on a broad range of issues that are important to our members.”
Pannek noted that in the 2022 – 2023 financial year, the MFAA participated in a significant number of government and regulator consultations resulting in the development of a record 24 submissions. This was the highest number of submissions in the Association’s 40-year history, demonstrating the Association's continuing proactive advocacy on a range of issues.
“This includes advocating on social and economic policy that impacts our members and their clients,” she said.
“For example, in January this year we made our inaugural Pre-Budget submission to the Federal Government detailing five key areas of we believe are critical for investment including competition in the home lending sector, digital innovation and diversity and inclusion.”
With a forward-thinking approach to policy and advocacy, Ms Pannek said the MFAA will continue to be ready to defend the industry when needed.
“We represent the entire industry – 97% of our members are mortgage and finance brokers, and we also represent lenders, aggregators, and other service providers to the industry. So, we take a whole of industry approach to our advocacy to ensure the ecosystem works to benefit all our members and their clients.”
“The MFAA is seen as the trusted voice among government and regulators, and we’ve been instrumental in shaping policy discussions, promoting industry best practices, and safeguarding the interests of all our members,” said Ms Pannek.
“A clear example of this is the significant advocacy and lobbying work that the Association did that led to the cancellation of the Review in Mortgage Broker Remuneration in March 2022.”
“As changes are contemplated in the regulatory and policy environment in which our members operate – whether in relation to credit regulation or regulation that changes how our members operate their businesses – we are here ensuring that any change is fit for purpose and continues to promote choice and competition,” she said.
