Philippine Banking Regulations Compliance: RCRD Ensures Adherence to Laws and Guidelines

The Risk Division (RCRD) at the Bank is responsible for ensuring that all banking laws, rules, regulations, and guidelines issued by various regulators are adhered to. To achieve this, the division takes a proactive approach through:

Continuous Dissemination of Regulatory Issuances

• RCRD continuously disseminates regulatory issuances to different units through appointed Compliance Office Designates.
• This ensures that all employees are aware of the latest regulations and guidelines.

Constructive Dialogue and Corrective Action

• RCRD fosters a constructive dialogue between its Governance Committee and other offices to identify any compliance deficiencies.
• Timely and consistent corrective action is taken to address these deficiencies, promoting a culture of compliance within the Bank.

Promoting Regulatory Compliance Awareness through Training and Workshops

To further promote regulatory compliance awareness among employees, RCRD conducts training and workshops on new regulations issued by:

Bangko Sentral ng Pilipinas (BSP) and Other Regulatory Bodies

• These initiatives aim to educate employees on the impact of these regulations on their respective areas of responsibility.
• By sustaining awareness and promoting a culture of compliance within the Bank, RCRD ensures that all employees are equipped to effectively manage regulatory requirements.