internal audit manager
Bank Albilad
Total years of experience :31 years, 10 Months
Using the risk-based audit methodology, managed the audit of various functions which include among others, the following:
- Treasury Management
- Consumer Finance
- Operational Risk Management
- AML/CTF and Compliance
- Trade Finance
- Business Continuity Management
- Anti-Fraud Management
- Alternative Delivery Channels
- Investment Banking
- Financial Control and Regulatory Reporting
Under a contractual arrangement, assisted the Chief Risk Officer in applying Principles for the sound management of operational risk (issued by the Basel Committee on Banking and Supervision or BCBS). Stayed only for four months to concentrate on completing work visa requirements of Bank AlBilad
Participated in the implementation of the Enterprise Risk Management (ERM) Framework in a call center environment. The ERM Framework was developed by Price Waterhouse Coopers for the Commission of Sponsoring Organizations of the Treadway Commission (COSO).
Assisted in the identification of inherent risks and in the assessment of mitigating controls to determine the risks at the residual level of different functions across the organization, and in the development of the appropriate corrective action measures.
Like the Region Bank, the Peoples Rural Bank of Binmaley also encountered financial problems, which affected its liquidity and capital adequacy requirements.
With the rank of Executive Vice President and Chief Operating Officer, was mandated to manage the Bank's day-to-day liquidity requirements, as well as in instituting remedial management measures for its problem loans, while looking for potential investors or buyers for the Bank.
Although the day-to-day liquidity requirements and loan portfolio were effectively managed, we were not able to find a suitable investor or buyer for the Bank, during my term.
The Region Bank is one of the top ten biggest rural banks in the Philippines that encountered serious financial problems partly from the 1997 financial crisis.
As President and CEO, the objective of the assignment was to manage the Bank's day-to-day liquidity and operational requirements, while looking for a suitable buyer under the best possible terms and conditions. This required numerous communications with the Deputy Governor of the Bangko Sentral ng Pilipinas (BSP), the President and Senior Officers in the Philippine Deposit Insurance Corporation (PDIC), Senior Officers in various creditor banks, and the the President and/or Senior Officers of potential acquiring banks.
After almost four months of negotiation, the BSP and the PDIC approved the final terms and conditions of the Bank's acquisition by a domestic Savings Bank, which took effect on September 30, 2003.
As a Director, my role was to manage and deliver financial advisory and consultancy services to mandated accounts that included among others, a group of inter-related companies (with concentration in the real estate industry), a technology company and a local bank.
While handling the account of a group of inter-related companies, developed a Mortgage Trust Indenture (in coordinatiion with a legal counsel) for the purpose of maximizing the use of the company's properties as security for its outstanding obligations.
Further to handling the financial consultancy services for a local bank, I eventually became its President and CEO immediately after my stint with this financial services firm.
Major responsibilities include the following:
Manage the back office support for all customer related initiatives of the Bank (e.g., Loans and Discounts, Time Deposits, International Trade, etc.) through the timely and accurate processing of transactions in conformity with approved policy and procedures and in compliance with all tax, accounting, legal and regulatory requirements
Oversee the efficient processing of transactions undertaken by the Bank’s allied undertakings (i.e., investment banking and equities brokerage, trading and positioning) as well as its non-allied undertakings (when it was still a universal bank)
Major responsibility was to:
Provide efficient back office support to investor based businesses (e.g., equities brokerage, trading and positioning, and as selling agent for Initial Public Offerings, and match funding activities through the use of debt derivatives) in accordance with all applicable policies and standards and in compliance with all tax, accounting, legal and regulatory requirements.
For the first six years, assisted or managed the examination of the auditable areas of the Bank at the Head Office and its (local and overseas) branches;
During the latter part, I moved to the Risk Management Group reporting directly to the Group Head.
Major achievement was the efficient and effective implementation of a risk management methodology that covers critical aspects of all of the Bank’s products and services (with focus on Treasury). The objective entails a business process approach towards understanding the nature of financial products (including derivatives) and services with emphasis on the underlying processes and controls and in identifying, monitoring and managing the inherent risks thereon. These include:
Foreign Exchange Products (Spot, Forwards, Swaps and Options)
Interest Rate Products (Swaps, Options, Futures and Forward Rate Agreements)
Trading and Investment in Securities
Margin Traded (non deliverable) FX Forwards
Investment Management Products (discretionary, non-discretionary, trust funds, equities brokerage)
Transaction Banking Products (Funds Transfer, Drafts Issuance, Documentary Collections and other Trade Products)
Graduated with a Bachelor of Science Dregree in Business Administration major in Accounting.