Appendix 101

REQUIRED CERTIFICATIONS AND EXAMPLES OF SUPPORTING DOCUMENTS FOR THE CONFIRMATION OF THE ELECTION/APPOINTMENT OF DIRECTORS/OFFICERS OF BSFIS1
(Appendix to Secs. 137, 161 and 412 on Confirmation of Election/Appointment of Directors and Officers)

Requiring Bangko Sentral Confirmation2 Not Requiring Bangko Sentral Confirmation
Directors Chief Executive Officers and Other Officers enumerated in Section 1373 Offices below the rank of Senior Vice President  requiring a different set of minimum qualifications4
• Letter-request for Bangko Sentral confirmation signed by authorized officer5with an affirmative statement that the institution has conducted a fit and proper test on the director/s concerned • Letter-request for Bangko Sentral confirmation signed by authorized office signed with an affirmative statement that the institution has conducted a fit and proper test on the officer/s concerned • Bio-data with a photograph (2” x 2”) taken within the last six (6) months
• Secretary’s Certificate attesting to the resolution of the stockholders or board of directors approving the election • Secretary’s Certificate attesting to the resolution of the board of directors approving the appointment6
• Bio-data with a photograph (2” x 2”) taken within the last six (6) months • Bio-data with a photograph (2” x 2”) taken within the last six (6) months
• Certification under oath of the director concerned that he/she possesses all the qualifications and none of the disqualifications to become a director • Certification under oath of the officer concerned that he/she possesses all the qualifications and none of the disqualifications to become an officer
• For first-time directors in a particular bank/banking group as defined in Sec. 137 • For first-time officers to be subject to Bangko Sentral confirmation in a particular bank with trust authority/trust corporation/banking group as defined in Sec. 137

REQUIRED CERTIFICATIONS AND EXAMPLES OF SUPPORTING DOCUMENTS FOR THE CONFIRMATION OF THE ELECTION/APPOINTMENT OF DIRECTORS/OFFICERS OF BSFIS7
(Appendix to Secs. 137, 161, and 412 on Confirmation of Election/Appointment of Directors and Officers)

Requiring Bangko Sentral Confirmation8 Not Requiring Bangko Sentral Confirmation
Directors Chief Executive Officers and Other Officers enumerated in Section 1379 Offices below the rank of Senior Vice President requiring a different set of minimum qualifications10
• Certification under oath of compliance with Bangko Sentral-prescribed syllabus on on  boarding/orientation program • Duly accomplished and notarized authorization form for querying the Bangko Sentral watchlist file from the officer concerned
• Certification under oath that the director has received copies of the general responsibility and specific duties and responsibilities of the board of directors and of a director that he/she fully understands and accepts the same • Secretary’s Certificate attesting to the resolution of the board of directors approving the appointment11
• Duly accomplished and notarized authorization form for querying the Bangko  Sentral  watchlist file from the director concerned • Bio-data with a photograph (2” x 2”) taken within the last six (6) months
• For independent directors, certification under oath that he/she is an independent director as defined in Bangko Sentral regulations • Brief description of his/her duties and responsibilities
• For re-elected directors, Secretary’s Certificate on the attendance by the director concerned to the board meetings held for the last twelve (12) months covering the term of service, indicating percentage of attendance to board meetings • Alien Employment Permit issued by the Department of Labor and Employment for foreigners appointed as officers • Brief description   of   his/her   duties   and responsibilities

(Circular No. 972 dated 22 August 2017, and 969 dated 22 August 2017)

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Footnotes

  1. To be submitted within twenty (20) business days from date of election/re-election/appointment/promotion to the appropriate department of the SES. For interlocks requiring Monetary Board approval, the following shall be submitted: (a) Letter-request for Monetary Board approval with justification; and (b) Bio-data.
  2. Including those exempted from the required Bangko Sentral confirmation as provided in Sections 137 and 412
  3. E.g., Treasurer, trust officer, heads of internal audit, risk management, and compliance functions, and other functions with the rank of Senior Vice President and above
  4. E.g., Security Officer, Head/In-Charge of E/FCDU Operations, and Head/In-Charge of Import and Export Financing Operations (for TBs)
  5. Authorized signatory is the Chief Executive Officer (CEO) of the institution, except for appointment of CEO, in which case the authorized signatory shall be the Chairman of the Corporate Governance Committee or of the board of directors, as may be applicable. For those exempted from the required Bangko Sentral confirmation as provided in Sec. 137, submit statement that the institution has conducted a fit and proper test on the director/officer concerned.
  6. In case of foreign bank branches, consularized letter of appointment of the officer concerned from the Head Office and/or Regional Office
  7. To be submitted within twenty (20) business days from date of election/re-election/appointment/promotion to the appropriate department of the SES. For interlocks requiring Monetary Board approval, the following shall be submitted:(a) Letter-request for Monetary Board approval with justification; and (b) Bio-data.
  8. Including those exempted from the required Bangko Sentral confirmation as provided in Sections 137 and 412
  9. E.g., Treasurer, trust officer, heads of internal audit, risk management, and compliance functions, and other functions with the rank of Senior Vice President and above
  10. E.g., Security Officer, Head/In-Charge of E/FCDU Operations, and Head/In-Charge of Import and Export Financing Operations (for TBs)
  11. In case of foreign bank branches, consularized letter of appointment of the officer concerned from the Head Office and/or Regional Office