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Members of SGV’s Financial Services Organization (FSO) Financial Crime Risk Management (FinCrime) Anti-Money Laundering (AML) team conducted a technical training on Anti-Money Laundering and Counter Terrorist and Proliferation Financing (AML/CTPF) for the Association of Certified Public Accountants in Public Practice (ACPAPP) Batangas Chapter. The training was held on 10 February 2024 in Batangas City. SGV FinCrime Senior Associate Damlouie “Loui” R. Valladolid was the resource speaker for the training, while Senior Associates Rubin S. Hollero II and Coleen Mae D. Panuela and Associate Randjee Earl A. Saludares served as facilitators. The session provided insights on the role of accountants and auditors with regards to the Anti Money-Laundering Act (AMLA). (From left to right) SGV FSO FinCrime – AML team members Rubin S. Hollero II, Randjee Earl A. Saludares, Coleen Mae D. Panuela, and Loui R. Valladolid receive a certificate of recognition and a token from incoming ACPAPP-Batangas Chapter President Mark Paul I. Ramos Loui discussed the role of accountants and auditors when it comes to AML/CTF in the Philippines. He explained that their responsibilities start with the registration of the accountant/auditor with the AMLC as covered persons performing covered services. He outlined registration steps during the session, including the documents to prepare, the process of creating a key ID, and the registration proper at the AMLC website. He also discussed the predicate crimes of money laundering. Other topics discussed during the training were an overview of money laundering and terrorist and proliferation financing, the history of the Philippines with the Financial Action Task Force (FATF), the development and implementation of an effective Money laundering and Terrorist Prevention Program (MTPP), customer due diligence, record keeping, and the reporting obligations provided by the AMLC. Typologies from international cases were also included in the presentation. Loui urged the attendees to become promoters of the AMLA and its objectives by fostering a professional environment of compliance, diligence, cooperation, and awareness, to build a better working world. 

In pursuit of continuous learning and professional growth, SGV Financial Services Organization (FSO) Financial Crime Risk Management (FinCrime) Anti-Money Laundering (AML) Associate Director Michael Ranz Luigi G. Tabar has obtained multiple certifications. Ranz is now a Certified Anti-Money Laundering Professional (CAMP), Anti-Financial Crime Professional (CFCP), and Certified Audit and Investigations Professional (CAIP).  SGV FSO FinCrime – AML Associate Director Michael Ranz Luigi G. Tabar, CPA, CAMP, CFCP, CAIP Ranz completed a series of courses and modules and passed the respective online examinations for CAMP, CFCP, and CAIP. He was certified by the Financial Crime Academy, an external online education provider for the global anti-financial crime community, in January 2024. The CAMP certification enables professionals to enhance their organization’s AML capabilities and build up their career in financial crime prevention.  The CFCP certification is intended for professionals in departments and functions such as compliance, anti-financial crime compliance, fraud investigation, fraud detection, internal controls, fraud risk management, and internal audit.  The CAIP certification enables professionals to carry out an exhaustive investigation of a company or enterprise to find instances of misconduct by management, staff, or outside parties. Ranz quotes Ashok Veda, saying that upgrading one’s skills is not an option but a necessity. Congratulations, Ranz!

SGV alumnus, Association of CPAs for Sustainability Inc. (ACPAFSI) President, and Accountancy Centenary Award of Excellence recipient Dr. Rufo R. Mendoza launched his book titled “Understanding Sustainability in Business” on 9 January 2024. The book was produced with the assistance of the SGV Foundation (SGVF). SGV alumnus and author Dr. Rufo Mendoza “Understanding Sustainability in Business” is a technical-professional book which provides a comprehensive understanding of the scope, frameworks, models, standards, regulations, and laws on the three pillars of sustainability. It can also be used as a textbook or reference book for undergraduate and graduate programs. The book has Chapter Review sections with multiple-choice items, review questions, and chapter activities. Members of SGV’s Climate Change and Sustainability Services (CCaSS) team, Partner Benjamin N. Villacorte, Director Diana A. Sadili-Chu, Senior Associate Raymond R. Paras, and Associates Zachary Y. Jara and Caryll Joy C. Franco, reviewed and provided significant insights around the book's technical facets. SGV Chairman and Country Managing Partner Wilson P. Tan delivers his message  Book launch attendees Professionals interested in sustainability and being part of the conversation on integrating sustainable strategies into their business framework for a healthier planet and a more prosperous future can secure a copy of the book by contacting the SGV Alumni Store (sgvf.admin@sgv.ph). Congratulations, Dr. Rufo!

SGV held its 2023 Financial Crime Risk Management Forum recently at the SGV Makati office. The forum brought together professionals and executives from the banking industry and regulators to connect and discuss developments, emerging risks, and challenges in the different domains of financial crime risk management, and how financial institutions can transform their operations, processes and systems, and upskill people in managing financial crime risks effectively. Panelists for the 2023 SGV Forum on Financial Crime Risk Management The panelists for the forum shared best practices on how to combat financial crimes. The panelists were Bangko Sentral ng Pilipinas (BSP) Senior Directors Melchor Plabasan and Atty. Florabelle Santos-Madrid, Citibank N.A. Philippines Atty. Narlette Manacap-Jaravata, EY Hong Kong Partner on Regulatory Technology Utpal Patel, SGV Consulting Principal Philip B. Casanova, Forensic and Integrity Services Leader Roderick M. Vega, and Financial Services Organization (FSO) Leader Christian G. Lauron.  FSO Leader Christian G. Lauron, Consulting Principal Philip B. Casanova, Tax Principal Maria Margarita D. Mallari-Acaban, Assurance Partner Miguel U. Ballesteros Jr., FCRM AML/CTPF Partner Veronica Mae Arce Balisi, EY Hong Kong Partner on Regulatory Technology Utpal Patel, Forensic and Integrity Services Leader Roderick M. Vega, and Banking and Capital Markets Leader Janeth T. Nuñez-Javier award certificates of appreciation to the panelists Dir. Melchor Plabasan detailed recent developments in the regulatory landscape and discussed the top three types of cyber incidents in 2022. In addition to outlining the BSP's Cohesive and Comprehensive, Agile and Balanced, Risk-based and Proportionate, Engaging and Collaborative (CARE) Approach to IT Risk Supervision, Dir. Plabasan also introduced Project Advanced SupTech Engine for Risk-Based Compliance (ASTERisC) — a pioneering cloud-based solution that automates BSP’s cybersecurity supervision. EY Hong Kong Partner Utpal Patel discussed technological advancements like Natural Language Processing, AI/Machine Learning, Biometrics, and Blockchain/Distributed Ledger Technology in tackling financial crime. SGV Consulting Principal Philip B. Casanova highlighted findings from an EY Global Cybersecurity Leadership Insights Study and its relevance in the Philippine setting, especially in facing similar cybersecurity challenges. He underlined the persistent need for technology adaptation, given the constant evolution of financial crimes and cybersecurity threats. Philip also advocated for the need to spread cybersecurity awareness in the home, raising the importance of educating families about the risks associated with online transactions. Atty. Matthew David, Executive Director of the Anti-Money Laundering Council, gave his welcoming remarks via recorded video message, emphasizing the importance of staying informed of relevant AML/CTF/CPF Rules to maintain the country's financial integrity. Asia Pacific FSO Risk Management Leader Vicky Lee-Salas and Banking and Capital Markets Leader Janeth T. Nuñez-Javier also attended the event and gave their respective messages to the participants.                                                                     The forum was organized by SGV Financial Crime Risk Management (FCRM) Anti-Money Laundering/Counter Terrorism and Proliferation of Weapons of Mass Destruction Financing (AML/CTPF) Partner Veronica Mae Arce Balisi, Fraud and Forensics Partner Roderick M. Vega, SGV Consulting Principal Philip B. Casanova, FCRM AML/CTPF Director Anne Mariel M. Lagao, Associate Director Michael Ranz Luigi G. Tabar, and Senior Associates Damlouie R. Valladolid, Jacob Raphael T. De Quilla, Christian E. Labanda, Rubin S. Hollero II, and Coleen Mae D. Panuela. According to Veronica, SGV recognizes the critical role that professionals play in combatting financial crime. She added that the SGV Financial Crime Risk Management Forum is set to be an annual event which will continue to provide relevant thought leadership and updates on SGV’s key Financial Crime (AML, cyber and fraud) Risk Management services.

Financial Services Organization (FSO) Financial Crime Risk Management (FinCrime) Anti-Money Laundering (AML) Associate Jason Fernandez won a gold medal in the 2024 Jager Manila Open Jiu-Jitsu Championship held on 13 January 2024 at Ayala Malls Circuit, Makati.  FSO FinCrime - AML Associate and Jiu Jitsu gold medalist Jason Fernandez Jason believes that building a strong body builds a strong mind and that experiencing hardship plays an integral part in his journey. As part of his training regimen, he also trains for wrestling and judo, along with his strength and conditioning program.  Jason has also garnered medals in other high-level jiu-jitsu competitions such as the Pan Asian, and International Open.  The 2024 Jager Manila Open Jiu Jitsu Championship was organized by the Brazilian Jiu Jitsu Federation of the Philippines (BJJFP) in cooperation with Jager, one of Korea's largest competition organizers. Congratulations, Jason! 

SGV Assurance Associate Claribelle D. Lee ranked 4th in the Sept - Oct 2023 US Certified Management Accountant (CMA) exam. She also received a Certificate of Distinguished Performance Award for completing the exam. The results were announced on 31 January 2024.  SGV Assurance Associate Claribelle D. Lee, CPA, CMA The CMA title is a credential that represents enhanced expertise in areas of accounting and finance, with competencies in strategic thinking, business analysis, and leadership. It is offered by the Institute of Management Accountants (IMA). Congratulations, Claribelle!

SGV Vice Chair and Deputy Managing Partner Maria Vivian C. Ruiz and SGV Climate Change and Sustainability Services (CCaSS) Partner Benjamin N. Villacorte, along with other members of the Makati Business Club (MBC), met with Securities and Exchange Commission (SEC) Commissioner Bryant Fernandez in January 2024.   MBC-SEC meeting attendees (Photos courtesy of MBC) They discussed the revised guidelines on Sustainability Reporting, which would require companies to submit more evironmental, social and governance (ESG) information following global metrics. MBC representatives shared concerns around the challenges of getting some of the required disclosures. SGV served as MBC's technical adviser last year for an MBC report on the State of Sustainability Reporting in the Philippines, which was also shared with the SEC as a policy input. The SEC has required publicly listed companies to submit an annual sustainability report since 2019. The MBC’s work on sustainability and access to information is supported by the Center for International Private Enterprise, a US-based institute that works to support democracy and to strengthen the private sector. 

SGV tabulated the results of The Business Manual’s 1st CEO Awards held on 28 January 2024 at Shangri-la The Fort. The tabulation team was headed by EY Philippines Private Leader and Assurance Partner Kristopher S. Catalan. EY Philippines Private Leader and Assurance Partner Kristopher S. Catalan and Assurance Manager Krys Joanne J. Adison at The Business Manual’s 1st CEO Awards The SGV tabulators were EY Philippines Private Leader and Assurance Partner Kristopher S. Catalan, Assurance Manager Krys Joanne J. Adison, and Senior Associates Casey Andrea D. Abejar and Hersheyllane A. Gilbuena. SGV supports similar events that allow the Firm and its members to make purposeful connections and celebrate accomplished Filipino entrepreneurs and business leaders.  ​ The Business Manual honored 20 of the country’s most influential CEOs, leaders who have displayed exemplary leadership in their respective industries and made significant societal contributions. Five CEOs who embody the publication’s values in line with its mission to Engage, Inspire, Empower, and Educate aspiring business owners and entrepreneurs were also honored during the event.   CEO awardees (left) and Entrepreneurial Excellence awardees (right) “The CEO Awards recognize the remarkable contributions of visionary leaders whose relentless dedication have fostered innovations, shaped industries, and set benchmarks for excellence in our country,” The Business Manual Editor-in-Chief RJ Ledesma said. Read more on The Business Manual: https://thebusinessmanual-onemega.com/

SGV Tax Principal Atty. Alden C. Labaguis assumed the position of Vice Chairperson of the Tax and Financial Services (TFS) Committee of The European Chamber of Commerce of the Philippines (ECCP) effective 8 January 2024. ECCP Executive Director Florian Gottein confirmed Atty. Alden’s appointment on the same date through official correspondence.ECCP TFSC Chair Atty. Con Simundac (left) and ECCP TFSC Vice Chair Atty. Alden C. Labaguis (right) Atty. Alden works together with ECCP TFSC Chair Atty. Con Simundac, Lead Legal Counsel of ING Bank Philippines. The ECCP is a bilateral foreign chamber that promotes European interests in the Philippines and vice versa. As an organization with close to 800 members and a strong partnership with the government, the ECCP offers a strong business network that holds great potential in translating to tangible business opportunities. The Chamber strives to make its members’ viewpoints heard on economic and business issues, legislative measures, and administrative regulations. The ECCP recognizes that the financial and fiscal sectors play a key role in helping ensure inclusive and sustainable economic growth and development. Subsequently, the implementation of suitable policies can help facilitate improved generation of funds as well as adequate allocation of resources. The ECCP TFSC engages with relevant stakeholders in initiatives towards improving fiscal and monetary policies including tax reform measures, as well as on improving inclusivity and security in the financial sector.

SGV Consulting Manager Jeffrey C. Yee is now a Certified Lean Six Sigma (LSS) Green Belt (GB) professional. Jeffrey received certification from the LSS external certification program sponsored by SGV for Business Consulting – Supply Chain and Operations in October 2023. SGV Consulting Manager and Certified Lean Six Sigma Green Belt professional Jeffrey C. Yee Jeffrey obtained the certification by attending a 56-hour LSS GB course, passing the written examination, and successfully completing and submitting an actual project study application. Lean Six Sigma is a recognized process improvement methodology thatis needed for foundational operational excellence skills for the Supply Chain team. This supplements the EY Supply Chain Internal Training and Industrial Engineering (IE) curriculum. This is also a preferred certification by EY clients. Congratulations, Jeffrey!