Top brokers weigh in on MFAA's CEO move

by Julia Corderoy21 Oct 2014
Top brokers have said they are pleased with the MFAA's announcement that Siobhan Hayden has been named the association's new chief executive.  

Katherine Stewart, mortgage and finance broker at Five Star Mortgage Solutions, told Australian Broker she was very pleased with the announcement.

“I was very happy when I saw the news. I think she is someone who is truly authentic and I believe will lead the MFAA with integrity and innovation into a new and fresh approach to broking.”

Stewart said she would like to see the MFAA further invest into supporting new to industry brokers. 

“I would like to see the MFAA invest more in new blood and offer some more support to new people in the industry. It costs a lot to start in broking and you don't make money straight away, so more support for new brokers would be welcome.”

Jeremy Fisher, director of 1st Street Home Loans, says Hayden will be a breath of fresh air to the industry. 

“I feel a change of face is always positive and I am looking forward to seeing what new initiatives and plans are introduced to help show further value of the MFAA to its members. I wish Siobhan all the best in her new role and as an MFAA member I would welcome the opportunity to provide any support and feedback as required.”

Fisher also told Australian Broker that he would like to see better support for new to industry brokers.

“I would personally like to see the MFAA help more in the marketing, recruitment and training of new brokers in the industry – this I would hope will be of great benefit to the future of mortgage broking.”

A spokesperson for Aussie Home Loans says Hayden's commitment to meeting with members will help the MFAA re-establish its relationship with members.

"The MFAA needs to re-establish its relevance to its membership base. It does a lot of unseen and probably unknown activities on behalf of members, but they need to increase the visibility of what they are doing and the benefits they provide. It’s important to get back in front of the members, understand the drivers of their businesses and what the MFAA can do to support them, though it seems Siobhan is already aiming to do this which is a really positive start."

As for Hayden, the new MFAA chief executive says her first major task as head of the association will be to engage with brokers to see what they want from their industry body. 

In an exclusive interview with Australian Broker, Siobhan Hayden said that brokers are her boss and their feedback will determine her strategy at the new chief executive.

“I have a big strong belief that there is one boss and that boss is the customer, and if the customer doesn’t buy from us, I don’t have a job and nor does the MFAA team. If the members don’t feel engaged and they don’t find value in what we are offering, that’s not a good thing for us. Getting out there initially and finding out what our customers need from us as an industry body and what they need moving into the future for their business will help inform the strategy that I and the team will help roll out – that is most important to me.”

Hayden said she is eager to start meeting with members, which will be her first priority as the new chief executive. With the help of the MFAA team, she plans to travel to both CBD and regional areas and engage in face-to-face facilitated sessions with ideally 10% of MFAA members.

“That session will be around what is important to our members – what do they feel that we need to provide as an industry body,” she said.

“We will distribute those findings to our members after having them speak to us, but then it will also inform the strategy that we will roll out with.”