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Compliance Issues |
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10 August 2004
FOR: CONFEDERATION/FEDERATION PRESIDENTS FROM: (Sgd.) SENEN D. GLORIOSO, President SUBJECT: COMPLIANCE ISSUES Dear Fellow Rural Bankers, In order to comply with the requirements of Bangko Sentral ng Pilipinas (BSP) and institutionalize corporate governance among rural banks, we would like to enjoin all Federations to organize an Association of Rural Bank Compliance Officers at the Federation-level. The Association of Rural Bank Compliance Officers at the Federation-level will provide a forum for the regular exchange of information and best practices among compliance officers of member banks. Moreover, it will facilitate RBAP’s goal to organize the National Association of Rural Bank Compliance Officers and hold a separate annual National Symposium. Attached is the initial list of federations that have already formed their respective Association of Rural Bank Compliance Officers. For our part, RBAP is implementing several programs and activities to encourage rural banks in meeting the requirements of BSP, to wit: 1. RBAP, together with the Association of Bank Compliance Officers of the Philippines (ABCOMP) and the Bankers Institute of the Philippines, has developed a two-day seminar module entitled: “Basic Course for Rural Bank Compliance Officers”. The seminar is designed to help rural banks comply with BSP Circular 145, which requires each rural bank to put in place a compliance program and appoint a BSP-approved Compliance Officer. The seminar likewise provides rural banks Compliance Officers with the necessary skills and tools that will enable them to perform their assigned duties and responsibilities expected. The outline of the said course is available at www.rbap.org. RBAP conducted the maiden offering of this Course last 10-11 June 2004 with 34 participants representing 28 banks. 2. The “Basic Course for Rural Bank Compliance Officers” is available to any Confederation/Federation that would like to conduct the said training. RBAP commends the Batangas Federation of Rural Bankers, under the leadership of its President Atty. Francis Ganzon for hosting the abovementioned Course last 21-22 July 2004 wherein 26 rural banks sent a total of 40 participants. At the end of the training, the participants were able to elect a set of compliance officers. These Federation compliance officers will establish and elect the national association of compliance officers who will be the rural banks’ representatives to ABCOMP. Two (2) seats are reserved in the ABCOMP for us. 3. RBAP will create a Forum for Compliance Officers in the RBAP website. It will be an interactive section for all Compliance Officers who have attended the Basic Course for Compliance Officers to utilize. Through this forum, Compliance Officers may post their queries, get instant answers, chat/interact with their colleagues, to name a few. 4. RBAP calls for the support and active involvement of all Federations to elect compliance officers and help in the establishment of a national association of rural bank compliance officers. Federations with working and organized set of compliance officers already are requested to provide your respective RBAP Account Officer an updated list of compliance officers the soonest time possible. Best regards. |
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Circular Letters/Memoranda |
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Speeches/ Presentations |
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Photo Gallery |
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The 2008 RBAP Charter Symposium |
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2008 CFI Awards |
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Rural Banking Week Celebration Golf Tournament |
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Client Satisfaction Survey for Licensing Management System of the Supervision and Examination Sector |
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Financial Reporting Package 2008 |
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BSP releases regulations on liquidity, market risk weighting |
