GUEST COLUMNIST
“What is your aspiration?” the amiable GSIS President and General Manager (PGM) Jose Arnulfo A. Veloso would always ask people, ever since he became a banker and up to his current post.
The sincerity of his query is what has made his leadership for the past “year and four months” already a marked presence amongst the people his agency serves.
In his office along Macapagal Avenue, over coffee and sandwiches prepared by his friendly team, PGM Wick gestures to the large glass window that overlooks Manila Bay. He remarked, “It looks different now.”
At the time of our conversation, the view of the iconic Manila Bay sunset and the gorgeous, serene, and vast sea previously enjoyed by his predecessors looked bleak — the sky was gloomy with a brewing thunderstorm, and soil was filling the sea due to a massive reclamation project.
PGM Wick seemed unmindful of the dismal weather outside. The multi-awarded CEO and veteran banker with four decades of national and global experience — including the distinction of being the first Filipino to become HSBC president and becoming PNB president from 2018 to 2022 — gave our team a warm welcome in his fluent Tagalog.
PROUD PINOY. The head of the country's public-sector insurance system takes pride in wearing clothes that showcase local culture.
There’s a cheerfulness to his voice when asked how he’s doing right now as GSIS boss. In past interviews, he said that he was hesitant about accepting a government post at first, but that has changed now.
“If I didn't work in the field of finance, I probably would not be able to do as much in an organization like the GSIS, primarily because I had so many misconceptions about the government in the past. But I was very surprised when I joined the GSIS. It’s a very professional organization, which is very similar to the financial institutions that I'm very familiar with. It really allowed me, as they say, to be like ‘fish in water.’”
“Natutuwa ako sapagkat ganito pala ‘yung feeling na nakatulong ka for the day (I'm happy because this is the feeling of accomplishing something for the day). Here, it's not just about being able to tackle the insurance requirements, the members, stakeholders, member agencies, and corporations.
“Alam mo, outside of the work that we do, the thought of constantly finding ways to help government employees makes you feel good.”
The PGM certainly lives up to his moniker. “Wick,” the nickname bestowed by his mother, is said to have evolved from “quick, quick, quick!” — her loving command when he was a little child. This time, the marching orders came from President Ferdinand Marcos, Jr., who gave him the mandate to ensure that insurance was secure in all government institutions and to immediately digitalize operations. From there, PGM Wick also discovered the number of government-owned properties and that the law on insurance coverage includes those in the export processing zones and government transaction guarantees for infrastructure projects.
All the above, he concludes, are “green fields” that he wants to further pursue for the country’s development.
Besides his diligent probe to check sources of opportunities that have not been fully utilized, PGM Wick wasted no time in applying one of his winning edges: his expertise in financial investments.
Last October, in what business insiders perceived as a derring-do and which one publication called a masterstroke, PGM Wick put the formidable Manny V. Pangilinan-led Metro Pacific Investment (MPI) off its power balance.
BONDING. DBM Media Affairs and Community Relations Usec. Goddes Hope O. Libiran on a visit to the office of GSIS President and GM Wick Veloso
GSIS, managed by the seasoned investment banker, quadrupled its holding from three percent to 12 percent (by the purchase of 2.4 billion MPI shares), resulting in a board seat for the pension fund government office.
Like David facing Goliath — the Salim-led consortium and giants like Mitsui of Japan, GT Capital of the Ty family, and Manny V. Pangilinan himself — PGM Veloso put his foot down and reiterated his desire for GSIS to remain a shareholder amid the diversified holding firm's voluntary delisting and the approval of consortium members to make it private.
“That’s what I do day in and day out,” he tells us. “It’s no different from when I was in the private banking sector. Pareho lang. I understand every company. As a matter of fact, I don't turn away any company that wants to present. In small, big companies, I listen because I learn something new. I learn from them for competence.”
“It’s part of my mandate to protect our shareholder value and to find investments that could further help our government employees live better lives,” he added.
And just like that, you don’t mess with PGM Wick, whose time-tested wisdom and expertise — along with his commitment to his clients, the more than two million active members and 550,000 pensioners of GSIS — gave the rest of the financial and business community a taste of his true mettle.
Maverick with a heart
It goes back to his humble roots, which he shared. During his youthful days in Marikina, he already had a sense of helping others. The Catholic school-bred boy, who studied at Marist School during his elementary years and at DLSU later for his Bachelor's Degree Major in Marketing Management, always felt the need to reach out to the less privileged.
He had a normal childhood and spent his years exploring and playing in the then-luscious forests and hiking to the hillside river in Marikina, bordering San Mateo.
From their Marikina residence, the young PGM Wick saw poor children by the creek in Barangay Cupang. He will sneak out food and old clothes from his sister for them when he goes guppy fishing. On one occasion, he shared his dinner food with an old lady who tried to take shelter in a nearby house under construction. He said it felt like the right thing to do.
Lola Amanda from Agoo, La Union
PGM Wick grew up with his Lola Amanda, whom he fondly calls Lola Mads, a feisty Ilocana from La Union. He supposes that he got his thriftiness and first lessons in managing his finances from her. Lola Mads was an entrepreneur, and she would often ask him to run small errands related to her businesses.
He had working parents, which explained why he was entrusted to his grandmother for care. His parents, he remembered, would always remind him, “They always told me that I have to work hard to stand on my own because no one else will do it for me. That’s how I learned how to become independent.”
“I tell my kids the same thing: they should work hard, as I won’t part anything to them, so they won’t lose their drive to succeed,” PGM Wick emphasized.
FAMILY MAN. GSIS President and General Manager Wick Veloso spends quality time with family, including his grandkids.
Work-life balance
Known for his hard-driving ways during his days as a hotshot banker, PGM Wick admits he has softened and is now cherishing the value of work-life balance.
“The pandemic has taught me a lot of things. It made me realize the importance of spending more time with family,” he shared. “I had one grandchild before the pandemic; now our family has grown!”
Lolo Wick is turning out to be a doting grandfather who tends to spoil the little ones. On weekends, his children and their young families still prefer to gather for dinner. The Velosos are one happy blended family with energetic little ones playing all over their gracious place — quite a far cry, but a delightful one at that, from their quieter weekdays.
As part of his work-life balance rediscovery, PGM Wick also plays golf during the rare times his schedule allows him — with the blessing and understanding of his wife Cayen, of course — while letting out a wide and boyish smile.
Meaningful work
As comfortable and clean as the GSIS building is, a popular fact talked about by people who have been there, PGM Wick says what keeps him happy is when he visits regional offices and listens to how stakeholders see GSIS products and services.
“When we go to the provinces, it’s the same as what I was familiar with (as PNB president): asking our customers if they are being served and how our services are,” he said. “This allowed us to come up with an enhanced multi-purpose loan giving P5 million, or up to 14 times the monthly pay at six percent interest, up to 15 years to pay, or until retirement, whichever comes first.
“GSIS came up with a lease with option to buy — a foreclosed real estate sale with no down payment. So far, we have distributed more than 700 titles to various individuals, both in the public and private sectors.
“We are in the process of putting up government housing with no down payment and only a co-obligor for government employees. This is an offshoot of feedback coming from stakeholders that they don’t have money for downpayments.
As an authority, PGM says he tries to be a situational leader who values listening and communicating with his team. On Mondays, the government office holds its flag-raising ceremony, and that’s where he takes the chance to update employees on the status of the GSIS relative to its goals and work ahead.
“I have to be clear with the team, so we’ll all be on the same page,” he said.
Duty and accountability are placed high on PGM Wick’s leadership list. As the guiding force of GSIS, he says there ought to be no excuse when it comes to delivering the services they have committed themselves to as public servants.
“Di pwede ang ‘teka, teka’” or procrastination and analysis paralysis. We are mission-based and must adapt to the situation to deliver.
“In the emergency room, doctors are trained to do triage and have the ability to identify tasks that need immediate attention.
“When I was in HSBC, I worked with a regional head who was a nuclear submarine commander, and he shared good risk management: anything that can go wrong, you anticipate, as you only have a small amount of time to rectify things when they are in code amber. When you are in code red, you expect things to be difficult to handle, so always challenge the code greens to see if they are indeed safe. Hindi pwede mabagal at walang kalidad ang trabaho because it will reflect on us.
“Always do a lot of research and challenge your assumptions repeatedly, even if things appear to be in order. Like bank clients, GSIS clients are the same — they need our immediate care and commitment,” the agency head said.
If there’s a legacy PGM Wick wants to leave his office, it’s a “lean, mean, brilliant insurance and investment team committed to growing the fund and finding better products and services for government employees. An inspired government work force will all join forces and help in nation-building. As I let my team prepare to be GSIS performance warriors, I will exact the most out of them by letting them do 10 pushups today, then 15 tomorrow, and by the end of the month, they will do 100. Eventually, they will realize that everyone will be better off because my goal is to challenge everybody to bring out the best in themselves.
“I’ve always believed in kapit-bisig.”
“Communicate. Listen to each other. Agree to disagree. At the end of the day, keep your eye on the prize. Mission-focused leadership. Hopefully, you’ll be able to improve the lives of people in government. ‘Yun lang. Yung makapag bigay-ginhawa at makapag silbi sa kanila.’ (To ease their lives and serve them.)”
GSIS PGM Wick is truly changing our perception of what being a good technocrat is all about — it is no longer just the stereotyped version of a calculating, skilled, elite businessman pursuing profit motives, chasing investments aggressively, and raising interest rates for earnings.
PGM Wick’s heartfelt mindset recognizes that there are faces and lives that matter beyond the numbers. To be a good leader, as PGM Wick is, one must have that strong resolve to do good first.
Definitely, technocrats have their humane side, too.