2024 ING FINEX CFO of the Year

Today is a big day! We will know tonight, Nov. 15, at Shangri-La the Fort the 18th ING FINEX CFO of the Year awardee! This chief financial officer (CFO) award is prestigious, long-standing and to my knowledge, the only CFO search in the Philippines.

The CFO of the Year will receive a prized Ramon Orlina glass sculpture. At tonight’s event, the committee has planned a very special program with musical and theatrical performer Armand Ferrer providing entertainment and Quintin Pastrana as host.

As FINEX Liaison Director for the CFO of the Year, I’m sorry that I am unable to attend this significant event as I’m presently in Tokyo for a Nickel Asia board meeting and a nickel plant visit after. I’m sure the event will be a success as preparations by the ING FINEX CFO of the Year Committee, the process for the search, as well as planning for the event started earlier this year, led by its very able chairman, CCT Chemicals Vice-President Brian Trias with ACCRA LAW Partner Atty. Everlene Lee as co-chair. Other hardworking team members are Domingo Go, Sub Chair for the Search and Selection with Arleen May Guevarra, Rommel Latinazo, Paul San Pedro and Grant Cheng, and Iñigo Garcia, sub-chair for Media Relations, and Mailene Bisnar for Events. Close coordination was held with ING Country Head Jun Palanca and Rowena “Weng” Palmiery Bayoneta with the guidance of FINEX President Augusto “Toti” Bengzon.

A very important part of any search is the Board of Judges, all well respected and a diversified group coming from government, business, academe, and a self-regulatory organization. There are seven members of the board, three of whom are permanent members, namely, ING’s Country Head, the FINEX President and the Securities and Exchange Commission, represented by Commissioner Karlo Bello. Other distinguished members of the board are BSP Monetary Board Member Rosalia de Leon, former Chairman and Managing Director of Convergys Philippines Marife Zamora, PSE President Ramon Monzon and De La Salle University President Brother Bernard Oca.

The search has clearly defined qualitative and quantitative criteria designed by the FINEX Foundation and the Ateneo Graduate School of Business, involving a detailed endorsement, a nomination system and a comprehensive set of panel interviews by both the Search Committee and the Board of Judges.

The role of the CFO has evolved to four important roles. From being a STEWARD, where the CFO protects and preserves critical assets of the organization and accurately supports the financial position, the CFO is also an OPERATOR who balances capabilities, talent, cost, and service levels to fulfill the finance organization’s core responsibilities efficiently. The CFO is also a CATALYST who spurs behavior across the organization to execute strategic and financial objectives while maintaining a risk intelligent culture. Finally, the CFO is a STRATEGIST, a partner of the business in providing financial leadership in determining strategic directions in financing and capital markets, all vital to the company’s future performance.

CFO of the Year awardees form an impressive group, and the CFO position is an excellent jumping board to lead the company either as the president, chairman or members of the board. Among the CFOs of the Year who became CEOs or chairmans of their firms are Jose Sio of SM Investments Corp.; Jeffrey Lim of SM Prime Holdings, Inc.; Jaime Ysmael of Ayala Land, Inc.; and Jose Teodoro Limcaoco of Ayala Corp., among others. Out of the 17 CFOs of the Year, there are four lady CFOs, namely, Sherisa “Baby” Nuesa of Manila Water Co., Inc.; Mylene Kasiban of Robinsons Retail Holdings, Inc.; Anabelle Chua of PLDT Inc.; and Corazon Dizon of ACEN Corp.

Congratulations to the 18th ING FINEX CFO of the Year, and thank you to the ING FINEX CFO Team led by Brian!

Meanwhile, last night, Nov. 14, was the culmination of the Mentor program of the Filipina CEO Circle (FCC), with former Vice-President Leni Robredo as the Master Class Speaker. It is truly an important initiative of the FCC to guide younger women in leveling up to be CEOs. Congratulations to the first 16 mentees in this pilot program!

Congratulations as well to Dr. Maria Rosa “Bing” Nieva Carrion who is celebrating her birthday today (Nov. 15) and launching her 47th book Asian Heroes 2024 at the Manila Hotel with Chief Justice Alexander Gesmundo as keynote speaker. Among the featured Asian Heroes 2024 include Senator Mark Villar, PhilExport President Sergio Ortiz, Jr., GSIS President Wick Veloso, former Secretary of Tourism Rafael Alunan, Kyani President Kate Bellosillo, Philanthropist Alice Eduardo among others.

The views expressed herein are her own and do not necessarily reflect the opinion of her office as well as FINEX.

Flor G. Tarriela was former chairman of Philippine National Bank. She is PNB board advisor, independent director of LTG and Nickel Asia. Former undersecretary of Finance and first Filipina vice- president of Citibank N.A. She founded Flor’s Garden in Antipolo.