Kurumba – The second session of the 35th ABA General Meeting and Conference on November 16, 2018 on “Risk Management Imperatives in the New World Order” featured Chuchi G. Fonacier, Deputy Governor at the Financial Supervision Sector of Bangko Sentral ng Pilipinas (BSP).

During her comprehensive presentation, Deputy Governor Fonacier first explained the components of Risk management, the risk facing the globalized world in general and the Philippine banks in particular. She proceeded to explain the present situation of Philippines banks and the strategies that BSP implements to mitigate risks in the Philippine financial market.

Furthermore, Deputy Governor Fonacier described the supervisory framework, the risk surveillance, and the industry performance measures taken by BSP.

She also explained how BSP uses a series of flexible risk management measures to monitor and control risk areas in credit risk, liquidity risk, operational risks, among many other risks detected or emerging.

The conclusion of her presentation focused on the way BSP approaches innovative Fintech and its potential inclusion into the BSP system.

To download the complete Deputy Governor Chuchi G. Fonacier’s presentation on risk management click HERE.

The second presenter in the Risk Management Imperatives in the New World Order session was Asian Development Bank’s Vice President of Finance and Risk Management, Ingrid van Wees, who discussed risks issues in Asian economies.

The third presenter was Mohamad-Reza Mostafid, Consultant to the CEO at Bank Pasargad, who spoke about cryptocurrencies in technology and financial terms, and the risks banks and related financial institutions could be exposed in dealing with cryptocurrencies. His technical presentation can be downloaded HERE.