Re-org came bouncing in

Published February 5, 2021, 6:00 AM

by Fil C. Sionil

It was temporarily put on hold last year due to the pandemic. The deferment in  implementation has now been lifted – the re-organization and the restructuring of the Bangko Sentral ng Pilipinas (BSP). There’s no stopping it now.

While the private sector is grappling with the news that more corporations may be facing temporary or even final closure, at the bank of banks located on Roxas Boulevard, BSP Governor Benjamin E. Diokno focused on the appointment of two additional deputy governors under Republic Act 7653 as amended by RA 11211.

Section 21 of the BSP law provides that the BSP governor, with the concurrence of the Momentary Board members, “shall appoint five deputy governors who shall perform duties as may be assigned to them by the governor and the board.

Deputy governors, under Section 12 of the amended act, play a significant role as they may attend the meeting of the Monetary Board with “the right to be heard.” This is over and above their duties  as  “designated by the governor  as chief executive of the Bangko Sentral.

 Although, the hiring was temporarily shelved for a while, the BSP last year published in widely read newspapers  that it was engaging the services of two more deputy governors in compliance with a  civil service requirement.

The newspaper announcement was made  to ensure that not only insiders are given the opportunity to be promoted but also  outsiders may be appointed to  work in the bank of banks with good remuneration packages and other benefits.

 While the banking community is relatively quiet on this matter, I’ve heard from other sources that bankers are waiting to know  the candidates. My muted sources share that two – a male and a female — responded to the BSP newspaper invitation.

Members of the Monetary Board have already interviewed the two outsiders. One, I’ve learned, is a graduate of the Asian Institute of Management and the other is an engineering-IT (information technology) expert from the University of the Philippines (UP). It’s unclear, however, if the outsiders are currently working with AIM and UP.

As for the insiders, the candidates are: Iluminda Sicat, currently assistant governor for regional operations; Joy Lorico, head of human resources/cash operations; and senior assistant governor Dahlia Luna, in charge of the minting plant in Quezon City.

One  of the two new deputy governors will reportedly take charge of the IT-Comptrollership and the other will supervise the Quezon City minting plant which has enormous responsibilities.

The appointment  of external applicant to deputy governor in charge of QC plant is still subject to MB approval. As I write this, it may be possible that the name/s have been submitted for approval in yesterday’s meeting. 

Managing Director Lilia Guillermo is supposed to be a candidate but BSP Gov. Diokno removed her from the prospective list since she has “less than one year to go before retirement.”

Did I say two deputy governors? There’s one more actually. BSP Governor Diokno this September or even earlier could appoint the replacement of Dep. Gov. Cyd Tuano-Amador who will be reaching the mandatory age of retirement in seven months.

This corridor will provide updates on this exciting development. In the meantime,  cheers to the newspaper of my youth – Happy anniversary, my Manila Bulletin family.

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