Chief Risk Officer, Credit Review Head, Credit Risk Head
Resume:
Dear Sir/Ma’am,
I wish to apply for a position where qualified in your respectable organization. I am open to full time employment in credit or risk management, or part time work as consultant or trainer in said fields.
I hope experience, leadership, and positive attitude toward work are of more importance than the age, considering I am already 60 last March 2021.
I have been in the banking profession for 37 years, with expertise in credit policy formulation, loan portfolio quality review, credit and financial analysis and forecasting, strategic planning and budgeting, credit risk management, investment research/fundamental analysis of stocks/investments, and enterprise risk management.
I have worked with Rizal Commercial Banking Corp. for almost 12 years as Credit Analyst, Investment Research Head, and Account Officer; with United Coconut Planters Bank for 17 years as Credit Review Head and Credit Risk Officer (both under Risk Management Dept.), Trust Risk Officer (functions as CRO of Trust Banking Group), and Investment Research Head; with Planters Development Bank for almost 5 years as Chief Risk Officer (CRO), Branch Banking Special Projects Officer, and Housing Loan Collections Officer; and also as CRO with Bank of Makati for 1 years. I was also a COO with an acquirer of a rural bank for almost a year.
I was with a consultancy team for rural and savings banks from July 2016 to July 2019; doing compliance, credit, and risk management functions. I am currently an RBAP (Rural Bankers Association of the Philippines) speaker from Sept 2017 to present, occasionally conducting lectures on risk management, financial analysis, and credit.
Attached is my curriculum vitae which I hope you find in order. Other pertinent documents may be provided, upon request.
Thank you very much.
Yours truly,
Ma. Cristina M. Farol
PERSONAL DATA SHEET
NAME : MA. CRISTINA M. FAROL
ADDRESS : Greenview Executive Village Phase III, Sauyo, Quezon City
TEL. NO. : 093******** (cel)
EMAIL AD : *********@*****.***
PERSONAL DATA
STATUS : Married
AGE : 60
BIRTHDATE : March 13, 1961
NATIONALITY : Filipino
RELIGION : Catholic
EDUCATIONAL ATTAINMENT
ELEMENTARY
St. Joseph’s College
E. Rodriguez Sr. Blvd., Q.C.
Grade 1 to 6 (1968 to 1974)
Honor Student/Accelerated to High School
HIGH SCHOOL
St. Joseph’s College
E. Rodriguez Sr. Blvd., Q.C.
1st to 4th Year (1974 to 1978)
Second Honor/Loyalty Awardee
COLLEGE
University of the Philippines
Diliman, Q.C.
BS Business Economics (1978 to 1982)
College Scholar/Dean’s Lister/School of Economics Scholar
OTHERS
Ateneo Computer Technology Center
Loyola Heights, Q.C.
Basic EDP Concepts/Flowcharting Proficiency/Basic Language
Programming
Certificate of Proficiency (Grade of 96% -97%)
Phil. Trust Institute
One Year Course on Trust Operations & Investment Management
Ateneo Law School, Makati
Aug. 1989 - April 1990
Third Placer/Certificate of Distinction
* Civil Service Eligible – Professional Level (taken 1982 right after graduation)
EMPLOYMENT RECORD
For an acquirer of a rural bank
Chief Operating Officer/EVP
August 1, 2018 – May 31, 2019
Bank of Makati
Chief Risk Officer/VP
Risk Management Group
March 20, 2017 – July 31, 2018
RBAP Speaker – September 2017 – Present
Consultant – several rural banks in Luzon
July 2016 – July 2019
Planters Development Bank/merger with China Bank Savings
1.Consultant (for retail housing past due loans)
Collections Services Dept.
June 2016
2.Collections Officer (for retail housing past due loans)/Vice President
Collections Services Dept.
December 2015 – May 2016
*Offered redundancy pay
3.Special Projects Officer/Vice President
Branch Banking Operations
August 1, 2014 – November 2015
Planters Development Bank
Chief Risk Officer/VP
Risk Management Dept.
August 16, 2011 – July 31, 2014
United Coconut Planters Bank
1.Trust Risk Officer/ Asst. Vice President II – acts as Chief Risk Officer of TBG.
Trust Banking Group
April 8, 2008 – August 15, 2011
2 Credit Risk Officer and Portfolio & Corporate Analysis Dept. Head/AVP II
Risk Management Dept.
*Recommendation for promotion to VP in 2005 was disapproved due to the natural rank recommendation of AVP of the Job Evaluation consultant)
Dec. 1, 2001-April 4, 2008
3. Investment Research Head/AVP II
Trust Banking Division Investment Research Section
Aug 1, 1994 to Nov. 30, 2011 (promoted to AVPII in Oct. 2001 &AVP I in April 1997)
Rizal Commercial Banking Corp.
1. Account Officer/Asst Manager
Mandaluyong Branch
Nov. 4, 1992 to July 31, 1994
2. Investment Research Head/AM
Trust & Investments Division(promoted to AM in Sept 1989)
June 1, 1987 to Nov. 2, 1992
3. Project Analyst/Credit Analyst/Non-Officer
Credit Dept. Evaluation Section
Nov. 2, 1982 to May 31, 1987)
Please refer to annexes below for other information
ANNEX A
JOB DESCRIPTION
Bank of Makati and Planters Development Bank
Chief Risk Officer
1.Responsible for the overall supervision, implementation and observance of risk management throughout the organization.
2.Dedicated to credit risk, market and liquidity risk/ALM, and operational risk management, monitoring, and reporting activities to mitigate risks for the Bank.
3.Transforms strategic direction set by the Board (through the Risk Oversight Committee, ROC) in the form of policies and procedures, and institutes an effective hierarchy to execute and implement those policies, taking into consideration the risk tolerance of the Bank.
4.Identifies, analyzes, and measures risks from the Bank’s activities from account solicitation, application processing, to acceptance of accounts; as well as in investing, administering and maintenance, and other transactional activities; up to account closing/termination.
5.Ensure clear communication down the line of formulated policies relating to risk management so as to serve its purpose. Policy formulation entails familiarization of BSP regulations as minimum compliance.
6.Recommends risk limits structure, in collaboration with line management. Monitors and reports compliance to tolerance limits and risk management policies to the ROC/Board, as well develop risk reduction strategies for such activities.
7.Recommends investment, liquidity, operations, and credit risk management policies; setting uniform standards of risk assessment and measurement, capital allocation and consumption; providing senior management with periodic risk simulation and evaluation; coordinating technical review for assessment of products and activities; and analyzing limit compliance exceptions.
8.Prepares the various risk manuals of the risk management group.
9.Formulated the ICAAP Manual of the Bank (Planters Bank and Bank of Makati)
10.Prepares and have approve the Annual Risk Plan/Program of the Risk Mgt Group,
11.Defines, establishes and communicates risk measurements and methodologies to line managers (risk taking personnel, RTPs); provides analysis of risk entities and consolidates exposures; assists in identification, and measurement of risk in each activity/transaction; continuously reevaluates the risk infrastructure to support management in dynamic and volatile environments; develop risk reduction measures/strategies..
12.Assists all units of the organization in mapping and risk identification, as well as provide risk controls and mitigants to minimize/manage risks.
13.Conducts scenario analysis or stress testing analysis (that examine the risk posture of the business given dynamic or extreme market environments) on the Bank’s investment/trading as well as loan portfolio. This is to assess risks not captured by purely quantitative models. Results are documented and reported to the ROC and noted by the Board.
11. Oversee the collection and construction of historical database required for the risk analysis and measurement methodology.
12. Have a hand in the development of product manuals that shall accomplish the risk identification objective, including valuation and hedging specifics especially for non-standard products that entail complex models.
13. Acts as the Data Protection Officer (DPO) of Bank of Makati.
14. Conducts trainings and workshops on credit, financial analysis, and risk management for Bank employees.
Branch Banking Special Projects Officer
Special projects basically on review of existing manuals and policies of branch banking, special review of selected branches, and other projects
Collection Officer – Housing Loan Past Dues
Coordinates with the collectors on the status of their collections; spearheads meetings with various departments concerned to resolve documentary issues, writes the letters given to developers reminding them of their obligations to pay past due loans of their clients if they failed to submit the documentary requirements after the given deadline, and not mention phone follow-ups.
United Coconut Planters Bank
Trust Risk Officer
The Trust Risk Officer is dedicated to risk management activities, monitoring market, operations, and credit risks in Trust. Almost the same function as a Chief Risk Officer, but on a smaller scale.
Credit Review Head and Credit Risk Officer
1.Creation of a credit risk rating model/template for corporate accounts, SMEs, and Banks/FIs.
2.Creation of a stress test template/model for loan accounts, incorporating what is possible (hypothetical) rating in view of the effects of the various internal and external conditions that may affect company operations.
3.Provided warnings signal to potential loan accounts that may default using the devised credit rating system (which after a few months, some of the accounts particularly those with huge exposures, did default).
4.Proposed new credit policies and amendments to existing ones in order to mitigate if not totally avoid risks.
5.Created database for industry financial averages and ratios to be used as a tool in the financial evaluation of loan accounts.
6.Started to build up database for the computation of the Basel II tools such as probability of default, exposure at default, loss given default, shareholder value, etc.
7.Provides guidance and direction to Top Management’s strategy and thrust on loan accounts.
8.Conducts an independent review of the credit worthiness and quality of the Bank’s loan portfolio and its subsidiaries. Provides earning warning signals on potential defaulting accounts, if so evident in the course of the review.
9.Reviews/concurs on accounts recommended for write-off, analyzes the reasons for the failure of these accounts and determines whether the loss is justified or not.
10.Identifies, measures, monitors, and manages credit risk, whichis the current and prospective risk to earnings or capital arising from a borrower’s failure to meet the terms of payment or contract as agreed upon with the Bank.
oReviews/amends internal risk rating system, which are integral tools in monitoring credit risk. Risk sensitive rating scale leads to sounder credit decisions and risk analysis of loans.
oDevelops/scouts for other credit models that have the ability to estimate the probability of default, exposure in default and loss due to default, to enhance analysis of the Bank’s credit portfolio. These credit models provide additional risk drivers to objectively measure and quantify the quality of loans.
11.Maintains rating histories for all accounts of the Bank which include individual ratings, review dates, methodology and key data used to derive the ratings, reviewer/rater, identity of borrowers, facilities that defaulted, circumstances and date of default, and realized default rates.
12.Recommends any updates/revisions/amendments to the Bank’s existing credit policies and procedures, and renders advice on matters that will improve the Bank’s lending function. Likewise, issues policy reminders/guidelines to all concerned parties within the Bank to ensure a smooth and sound conduct of the Bank’s loan/credit functions.
13.Monitors payments made by the Bank’s loan accounts particularly those which have been detected with warning signals that could lead to defaults in loan payments and eventual loan loss.
14.Formalizes the change in the account’s credit/quality rating made by the AO/RM/CO upon submission of such recommendation to PCAD. Instructs CROs to update the PCAD masterfile of account ratings and the CLS to incorporate the downgrades.
15. Responsible in overseeing and assisting the regular quality review of the loan portfolio, acquired assets (ROPOA), and other risk assets (AR and AIR) of the Bank and its subsidiaries with an aim to assist line management in maintaining a sound and profitable portfolio.
1.Monitors profitability of accounts and relates this to its loan portfolio quality so as to determine if each account is worth maintaining by the Bank relative to the credit risk rating and existing/potential risks associated with the account.
2.Regularly coordinates with the Industry Group Dept of the Bank for its updating and revisions if misclassifications and other errors are observed. The file is used by the Marketing and Credit units in the financial evaluation of loan accounts.
18 Prepares regular/annual reconciliation of BSP results of review on ratings of accounts and reserves computation as against those made by PCAD and determines reasons for the variances (if any) for submission to Management
Investment Research Head (also in RCBC)
1.Prepares Weekly Stockmarket Bulletin released to Chairman, Pres., Division Heads, Branches, Trust Clients, UCPB Subsidiaries. This consists of a review of previos week’s market performance, market prospects for the week, technical recommendations on individual stock issues including support and resistance levels.
2.Prepares Daily Stock Market Guide – basic features as abovementioned but on a daily basis.
3.Prepares Equities Book for the Bank’s (released 2x a year). This includes Economic, Industry, as well Stock Market Review and Prospects (with projections on important economic indicators). Studies done selected companies as well as investment recommendations on them.
4.Prepares Company Studies (full-blown from profile to projections) – those listed stocks and Economic/Industry Reports on Performance and Prospects
5.Gives weekly briefing to Trust Portfolio Managers on Investment Strategies. Also conducts briefings to Trust clients upon request. Gives monthly briefings during the Board Meeting of Cocolife’s United Fund.
6. Attends Stockholders’ Meetings, Company Briefings to be better abreast on the company and establish rapport with companies’ top management and senior officers.
Rizal Commercial Banking Corp.
Account Officer
1.Processes renewal of facilities of the Branch’s existing loan facilities as well as loan applications of prospective borrowers.
2.Services other needs of the Branch’s loan and deposit clients such as assists in their BP availments, check deposits and encashments, informs clients of their DAUDs (those without BP accommodations) so that checks can be funded before cut-off time to avoid ROCCs.
3.Goes on client calls with the Branch Head to maintain rapport with loan clients and establish new or additional business with them.
Project /Credit/ Financial Analyst
1.Credit Analyst does financial analysis on existing and prospective loan clients of the Bank. Full evaluation and discussion of the reasons behind the company’s financial performance is reported to the Account Officer to aid in the decision making process of whether to renew the loan facilities of existing clients or allow availment of facilities by prospective clients.
2.Project Analyst also does the above but added function is preparing projections for Term Loan clients, the no. of projected years varies depending on the term of the loan – normally 5 to 10 years.
3.Also conducts pre and post approval reviews of the CAs (Credit Evaluation) sheet and other documents of the Account Officers bankwide that are presented in seeking approval for renewals and new accommodations for loan clients.
ANNEX B
SEMINARS/TRAININGS ATTENDED
1.CAMELS Rating (RBAP)
RBAP Intramuros, May 16-17, 2019
2.Cashiering Seminar (RBAP)
RBAP Intramuros, April 2019
3.Data Privacy Seminar (Punongbayan)
Makati Diamond Residences, November 2017
4.Data Protection Officers’ Briefing (NPC)
DICT, August 16, 2017
5.Compliance Risk Management (ABCOMP)
Makati Diamond Residences, August 10-11, 2017
6.Midyear Economic and Capital Markets Briefing (FMIC)
Makati Shangri-la Hotel, July 5, 2017
7.Credit Risk Management Seminar (Trans Union)
Makati Diamond Residences, May 23, 2017
8.Anti-Money Laundering Briefing (BMI)
March 23, 2017
9.Seminar on Market Reading (Money Market Association of the Philippines)
PDCP Bank Center, Makati City; 22 April 2014
10.Navigating PFRS (Bankers Association Institute of the Phils., Baiphil )
Dusit Thani Hotel, Makati City; 18 January 2014
11.Corporate Risk Management and Anti-Money Laundering Seminar (Phil. Securities Consultancy Corp.)
Dusit Thani Hotel, Makati City; 23 July 2013
12.Credit and Collection (Chamber of Thrift Banks)
PSBank Hall, Makati City; 30 and 31 May 2013
13.Compliance Function/Compliance Rating System/Risk-Based Supervision and AML Rules and Regulations (Chamber of Thrift Banks)
PSBank Hall, Makati City; 30 and 31 May 2013
14.Quantitative Financial Risk Management (Baiphil)
Berjaya Manila Hotel, Makati City; 25 May 2013
15.Credit Scoring for Start-Ups : Experts Input Workshop (Development Bank of the Phils)
DBP Office, Makati City; 29 to 30 April 2013
16.Internal Capital Adequacy Assessment Process (ICAAP) (Baiphil)
Berjaya Manila Hotel, Makati City; 2 February 2013
17.Operational Risk Management (Baiphil)
Berjaya Manila Hotel, Makati City; 19 January 2013
18.Business Continuity Management Seminar and Business Impact Analysis/Risk Assessment (BIA/RA) Workshop (Baiphil)
Security Bank Center, Makati City; 19 and 26 November 2011
19.Risk Management Seminar (Fund Managers Association of the Phils., FMAP)
Renaissance Hotel, Makati City; 25 February 2009
20.Standardized UITF Training Program for Trainors (Trust Institute Foundation of the Phils) – Certified Trainor after Taking the Exam
31 July 2008; Asian Institute of Management (AIM)
21.Credit and Risk Management Value Creation (ADMEREX)
Tower Club, Makati; 19 and 20 July 2007
22.Basel II Training and Worskhop (United Coconut Planters Bank, and KPMG)
Makati Sports Club, Makati City; 29 January 2007
23.Joint Workshop on Risk Management (BSP and Deutsche Bank)
BSP Assembly Hall, Manila; 9 and 10 November 2006
REFERENCES
Noli Acosta
Former boss in RCBC Credit Dept.
091******** (cel)
Marilen Sarmiento
Former boss in UCPB Trust Division
091******** (cel)
Teodora Garcia
Consumer Credit Head, UCPB, Housing Loan Dept.
8119508 (office) /091******** (cel)
Ma. Isabel Lorenzo
Portfolio Management Officer, UCPB,Trust Banking Division
8119590 (office)/091******** (cel)
Marissa Tumangday
Audit Group Head, Bank of Makati
092********(cel)
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