The role of the independent assessor to the Financial Ombudsman Service is not set out in the Financial Services and Markets Act 2000.
Following consultation, the board of (the Financial Ombudsman Service set up the post in 2001, under terms designed to secure the independence of the person appointed.
Under his terms of reference, the independent assessor can consider complaints about the Financial Ombudsman Service's procedures and the behaviour of its staff. Disagreements about the merit of decisions are specifically excluded from his jurisdiction. The independent assessor is authorised to make findings and recommendations for redress in cases where he believes it is justified.
Each year, the independent assessor writes an annual report, which is contained with the Financial Ombudsman Service's annual review. In it, he details the number and nature of the cases referred to him and the outcome of his investigations.
Following a national advertisement and open selection process, Sir Edward Osmotherly was appointed to the post of independent assessor in December 2001. The present incumbent, Michael Barnes CBE, succeeded him in April 2002.