2019 Bangko Sentral ng Pilipinas Organization Primer

ORGANIZATION PRIMER

As of 5 November 2019

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 2019 Bangko Sentral ng Pilipinas Organization Primer

Contents

BSP Vision .................................................................................................... 3

BSP Mission ................................................................................................. 3
BSP Core Values ........................................................................................... 4
Responsibilities and Primary Objective of the BSP ....................................... 5
The Monetary Board .................................................................................... 6
Powers and Duties of the Governor ............................................................. 8
BSP Hierarchical Structure ......................................................................... 10
BSP Organization Chart .............................................................................. 11
Offices under the Monetary Board and the Governor ............................... 12
Financial Supervision Sector ...................................................................... 17
Monetary and Economics Sector ............................................................... 21
Currency Management Sector ................................................................... 23
Corporate Services Sector .......................................................................... 26

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BSP Vision
The BSP aims to be recognized globally as the monetary authority and primary
financial system supervisor that supports a strong economy and promotes a
high quality of life for all Filipinos.

Ang Bisyon ng BSP

Naghahangad ang BSP na makilala sa buong mundo bilang pangunahing
tagapamahala ng sistema at kaayusan ng pananalapi at ekonomiya upang
maitaguyod ang mataas na antas ng kabuhayan para sa lahat ng Filipino.

BSP Mission
To promote and maintain price stability, a strong financial system, and a safe
and efficient payments and settlements system conducive to a sustainable and
inclusive growth of the economy.

Ang Misyon ng BSP

Itaguyod at panatilihin ang katatagan ng presyo ng mga bilihin at ng
sistemang pinansyal, at ng mahusay, ligtas at maaasahang pamamaraan ng
pagbabayad upang makatulong sa patuloy na paglago ng ekonomiya at pag-
angat ng kabuhayan ng lahat ng mga Filipino.

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BSP Core Values

Excellence – Consistently doing our best to master our craft, continually

improving our competencies, and learning new things in pursuit of the
organizational goals, comparable to the best practices of other central banks

Patriotism – Selfless commitment to the service of the Filipino people and the
country

Integrity – Performing mandate with sincerity, honesty, and uprightness,

worthy of respect and emulation from others

Solidarity – Performing with team spirit; acting and thinking as one in the
pursuit of common goals and objectives

Accountability – Taking full responsibility for one’s or group’s actions

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Responsibilities and Primary Objective of the BSP

It shall be the responsibility of the BSP:

1. to provide policy directions in the areas of money, banking, and

credit;
2. to supervise the operations of the banks and to exercise such
regulatory and examination powers as provided under Republic Act
No. 11211 (The New Central Bank Act, as amended) and other
pertinent laws over the quasi-banking operations of non-bank
financial institutions; and
3. to exercise regulatory and examination powers over money service
businesses, credit grating businesses, and payment system operators.

Its primary objective is to maintain price stability conducive to a balanced

and sustainable growth of the economy and employment.

It shall:
1. promote and maintain monetary stability and the convertibility of the
peso;

2. promote financial stability and closely work with the National

Government, including, but not limited to, the Department of
Finance, the Securities and Exchange Commission, the Insurance
Commission, and the Philippine Deposit Insurance Corporation;

3. oversee the payment and settlement systems in the Philippines,

including critical financial market infrastructures, in order to promote
sound and prudent practices consistent with the maintenance of
financial stability; and

4. promote broad and convenient access to high quality financial

services and consider the interest of the general public.

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The Monetary Board

In the exercise of its authority, the Monetary Board shall:

1. issue rules and regulations it considers necessary for the effective

discharge of the responsibilities and exercise of the powers vested upon
the Monetary Board and the Bangko Sentral;
2. direct the management, operations, and administration of the Bangko
Sentral, reorganize its personnel, and issue such rules and regulations as
it may deem necessary or convenient for this purpose. The legal units of
the Bangko Sentral shall be under the exclusive supervision and control
of the Monetary Board;
3. establish a human resource management system which shall govern the
selection, hiring, appointment, transfer, promotion, or dismissal of all
personnel. Such system shall aim to establish professionalism and
excellence at all levels of the Bangko Sentral in accordance with sound
principles of management.
A compensation structure, based on job evaluation studies and wage
surveys subject to the Board's approval, shall be instituted as an integral
component of the Bangko Sentral's human resource development
program.
On the recommendation of the Governor, appoint, fix the remunerations
and other emoluments, and remove personnel of the Bangko Sentral,
subject to pertinent civil service laws: Provided, that the Monetary
Board shall have exclusive and final authority to promote, transfer,
assign, or reassign personnel of the Bangko Sentral and these personnel
actions are deemed made in the interest of the service and not
disciplinary: Provided, further, that the Monetary Board may delegate
such authority to the Governor under such guidelines as it may
determine;
4. adopt an annual budget for and authorize such expenditures by the
Bangko Sentral as are in the interest of the effective administration and
operations of the Bangko Sentral in accordance with applicable laws and
regulations; and

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5. indemnify its members and other officials of the Bangko Sentral,

including personnel of the departments performing supervision and
examination functions against all costs and expenses reasonably
incurred by such persons in connection with any civil or criminal action,
suit or proceedings to which he may be, or is, made a party by reason of
the performance of his functions or duties, unless he is finally adjudged
in such action or proceeding to be liable for willful violation of Republic
Act No. 11211, performed in evident bad faith or with gross negligence.

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Powers and Duties of the Governor

Pursuant to Republic Act No. 7653 (The New Central Bank Act), the
Governor shall be the Chief Executive Officer of the Bangko Sentral. His powers
and duties shall be to:

a) prepare the agenda for the meetings of the Monetary Board and to
submit for the consideration of the Board the policies and measures that
he believes to be necessary to carry out the purposes and provisions of
said Act;
b) execute and administer the policies and measures approved by the
Monetary Board;
c) direct and supervise the operations and internal administration of the
Bangko Sentral. The Governor may delegate certain of his administrative
responsibilities to other officers or may assign specific tasks or
responsibilities to any fulltime member of the Monetary Board without
additional remuneration or allowance whenever he may deem fit or
subject to such rules and regulations as the Monetary Board may
prescribe;
d) appoint and fix the remunerations and other emoluments of personnel
below the rank of a department head in accordance with the position
and compensation plans approved by the Monetary Board, as well as to
impose disciplinary measures upon personnel of the Bangko Sentral,
subject to the provisions of Section 15(c) of said Act: Provided, That
removal of personnel shall be with the approval of the Monetary Board;
e) render opinions, decisions, or rulings, which shall be final and executory
until reversed or modified by the Monetary Board, on matters regarding
application or enforcement of laws pertaining to institutions supervised
by the Bangko Sentral and laws pertaining to quasi-banks, as well as
regulations, policies or instructions issued by the Monetary Board, and
the implementation thereof; and
f) exercise such other powers as may be vested in him by the Monetary
Board.

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The Governor of the Bangko Sentral shall be the principal representative of

the Monetary Board and of the Bangko Sentral and, in such capacity and in
accordance with the instructions of the Monetary Board, he shall be
empowered to:

a) represent the Monetary Board and the Bangko Sentral in all dealings
with other offices, agencies and instrumentalities of the Government,
and all other persons or entities, public or private, whether domestic,
foreign or international;

b) sign contracts entered into by the Bangko Sentral, notes and securities
issued by the Bangko Sentral, all reports, balance sheets, profit and loss
statements, correspondence, and other documents of the Bangko
Sentral;

c) represent the Bangko Sentral, either personally or through counsel,

including private counsel, as may be authorized by the Monetary Board,
in any legal proceedings, action or specialized legal studies; and

d) delegate his power to represent the Bangko Sentral, to other officers

upon his own responsibility: Provided, however, That in order to
preserve the integrity and the prestige of his office, the Governor of the
Bangko Sentral may choose not to participate in preliminary discussions
with any multilateral banking or financial institution on any negotiations
for the Government within or outside the Philippines. During the
negotiations, he may instead be represented by a permanent negotiator.

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BSP Hierarchical Structure

MONETARY BOARD

GOVERNOR

SECTOR DEPUTY GOVERNOR

SENIOR ASSISTANT
GOVERNOR1/
SUB-SECTOR ASSISTANT GOVERNOR/
MANAGING DIRECTOR

DEPARTMENT/
SENIOR DIRECTOR / DIRECTOR
OFFICE

GROUP DEPUTY DIRECTOR

DIVISION MANAGER

1
In the case of the Head of the Financial Market Operations Sub-Sector, Office of the
General Counsel and Legal Services, and Security Plant Complex

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BSP Organization Chart

MONETARY
BOARD

GOVERNOR

MONETARY
FINANCIAL CURRENCY CORPORATE
AND
SUPERVISION MANAGEMENT SERVICES
ECONOMICS
SECTOR SECTOR SECTOR
SECTOR

Financial Supervision Sector (FSS) – mainly responsible for the regulation of banks
and other BSP-supervised financial institutions, as well as the oversight and
supervision of financial technology and payment systems

Monetary and Economics Sector (MES) – mainly responsible for the

operations/activities related to monetary policy formulation, implementation, and
assessment

Currency Management Sector (CMS) – mainly responsible for the forecasting,

production, distribution, and retirement of Philippine currency, and the production
of security documents, commemorative medals, and medallions

Corporate Services Sector (CSS) – mainly responsible for the effective management
of corporate strategy and communications, as well as the BSP’s human, financial,
technological, and physical resources to support the BSP’s core functions

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Offices under the Monetary Board and the Governor

MONETARY
BOARD

OFFICE OF THE GENERAL OFFICE OF THE

COUNSEL & LEGAL SECRETARY, MONETARY
SERVICES BOARD

INVESTIGATION & LEGAL

PROSECUTION COUNSELLING INTERNAL AUDIT
GROUP GROUP OFFICE
FINANCIAL LITIGATION &
SUPERVISION ADMINISTRATIVE AUDIT AUDIT
LEGAL GROUP CASES GROUP SERVICES SERVICES
GROUP I GROUP II

GOVERNOR

EXECUTIVE OFFICES OFFICE OF

OPERATIONS SYSTEMIC RISK
MANAGEMENT MANAGEMENT
DEPARTMENT
CORPORATE
RISK & PLANNING OFFICE
COMPLIANCE
OFFICE CENTER FOR
COMMUNICATION AND
CENTER FOR INVESTOR RELATIONS
LEARNING &
INCLUSION ADVOCACY
COMMUNICATION CORPORATE
OFFICE AFFAIRS OFFICE

INVESTOR
RELATIONS OFFICE

INFORMATION FINANCIAL MARKET

TECHNOLOGY OPERATIONS SUB-
OFFICE SECTOR

RESERVES RESERVES
IT MANAGEMENT MANAGEMENT
IT SYSTEMS DEPARTMENT I DEPARTMENT II
INFRASTRUCTURE
MANAGEMENT
& OPERATIONS
DEPARTMENT INVESTMENT
DEPARTMENT DOMESTIC MARKET
RISK &
OPERATIONS
ANALYTICS
IT STRATEGY DEPARTMENT
OFFICE
AND IT SECURITY
GOVERNANCE GROUP MARKET SUPPORT
DEPARTMENT SERVICES OFFICE

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OFFICES DIRECTLY REPORTING TO THE MONETARY BOARD

Office of the General Counsel and Legal Services

• Renders legal advisory services to the Monetary Board, the Governor, the Deputy
Governors and BSP units on matters relating to policies, functions, operations, and
regulations of the BSP
• Prepares and/or reviews: (i) international and local agreements where BSP is a party or
has an interest; and (ii) draft legislation, circulars, rules and regulations relating to the
money, banking and credit policies of the government, including internal policies and
rules and regulations of BSP
• Investigates and prosecutes criminal cases involving fraud, irregularities and anomalies
committed by directors/trustees/officers of BSP-supervised financial institutions

Office of the Secretary, Monetary Board

• Provides secretarial and administrative support to the Monetary Board

Internal Audit Office

• Assists the BSP in achieving its objectives and improving its operations, through the
conduct of independent, objective assurance and consulting activities
• Evaluates the effectiveness and adequacy of controls in responding to risks within the
BSP’s governance, operations, and information systems, and provides appropriate
recommendations with regard to the: (i) achievement of the BSP’s strategic objectives;
(ii) reliability and integrity of financial and operational information; (iii) effectiveness
and efficiency of operations and programs;
(iv) safeguarding of assets; and (v) compliance with laws, regulations, policies,
procedures, and contracts

OFFICES DIRECTLY REPORTING TO THE OFFICE OF THE GOVERNOR

Executive Offices Operations Management Department

• Implements internal rules, regulations, and policies of the BSP involving personnel
administration, employee services, learning services, budget administration, and
property and supplies management
• Responsible for catering to the unique requirements of the Offices under the
Monetary Board and the Governor in the exigencies of the service

Risk and Compliance Office

• Develops, recommends, maintains, and amends frameworks, policies, guidelines,
standards, and procedures covering risk management (RM), business continuity
management (BCM), and compliance matters
• Monitors the implementation of RM, BCM, and compliance frameworks, policies,
procedures, guidelines, and processes to ensure that BSP units perform the following:
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(i) updating of risk templates, business continuity plans, and other risk and
compliance-related reports; (ii) conduct of business continuity exercises and
submission of action plans; and (iii) institutionalization of RM, BCM, and compliance
processes/practices through their inclusion in management systems and performance
reviews

Center for Learning & Inclusion Advocacy

• Develops enabling regulations and maximizes multi-stakeholder partnerships to
support building an inclusive financial system responsive to the diverse and changing
needs of the market
• Designs and implements financial education and consumer protection policies and
programs to help the public acquire knowledge, develop skills for well-informed
financial decision-making, and promote a customer-centric and responsible financial
services industry

INFORMATION TECHNOLOGY OFFICE

IT Systems Management Department

• Evaluates the requirements of various business units, defines application architecture,
and develops programs and systems to meet business needs that are aligned with the
overall Corporate Business Strategy of the Bank

IT Infrastructure and Operations Department

• Maintains the operational integrity of the technologies and services provided, and
keeps hardware and software functioning

IT Strategy and Governance Department

• Oversees the operations, projects, plans and commitments of the Office, ensuring that
they are implemented successfully, and provides Management with technical and
relevant inputs on strategic direction for activities/ programs/ initiatives of the ITO, in
IT Planning and Strategy, IT Project Management, IT Policy and Quality Management
and IT Procurement Management and Contracts Monitoring

Office of Systemic Risk Management

• Develops and implements the financial stability frameworks for: (i) continuing
surveillance and tracking of systemic risks and their channels of contagion; (ii)
identifying, analyzing and addressing financial stability issues arising from domestic
and international macro-financial developments; (iii) crafting communication
responses to identified issues and assessing the effectiveness of such interventions;
and (iv) designing, delivering and evaluating the impact of capacity programs,
advocacy programs and learning roadmaps
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• Identifies, measures and monitors potential systemic risk vulnerabilities through

continuing research and analysis of the domestic and international financial
environment, interconnectedness of macro-financial agents, and roles of leverage,
liquidity and cyclicality

Corporate Planning Office

• Manages the strategic planning process in the BSP to ensure a high level of integration
and alignment across all of BSP’s operational areas, towards the achievement of BSP’s
mandate

CENTER FOR COMMUNICATION AND INVESTOR RELATIONS

Communication Office
• Serves as BSP’s core communication team, a clearinghouse for all messages and
communication of the organization to ensure, among others, consistent and insightful
messaging capability representative of a world-class institution.
• Handles BSP’s media/public relations, enterprise communication plan, issues crisis
communication management, production of BSP publications including newsletter,
writing the Governor’s speeches, and creation of content for distribution through
various channels

Corporate Affairs Office

• Serves the needs of BSP departments/offices for creative design and production,
management of corporate events, administration of the BSP Museum, and
guest/frontline services

Investor Relations Office

• Assists in developing relations with the international financial community and
promotes the Philippines as an investment site

FINANCIAL MARKET OPERATIONS SUB-SECTOR

Reserves Management Department I

• Manages the internal reserve portfolios, including gold, aligned with the overall risk
and return objectives of the BSP
• Participates in the formulation of policies and recommendations relating to reserves
management and provides information relating to financial markets

Reserves Management Department II

• Oversees the externally-managed portfolios of the international reserves, primarily by
implementing the External Funds Management Program of the BSP
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• Ensures that external fund managers abide by contractual provisions stated in the
Investment Management Agreement, and amendments and addendums thereto

Domestic Market Operations Department

• Implements the Bank’s monetary and foreign exchange policies, which are critical in
performing the BSP’s primary mandate of maintaining price stability, through market
operations and surveillance

Investment Risk and Analytics Office

• Formulates investment and risk policies covering the management of the international
reserves (both gold and non-gold international reserves)
• Acts as the Middle Office of the Sub-Sector which is responsible for the identification,
analysis, assessment, and control of various financial risks inherent in the
management of international reserves; enforcement of performance measurement
and appraisal; and implementation of compliance checks across the BSP’s reserve
portfolios

Market Support Services Office

• Provides banking services to the National Government (NG), its political subdivisions
and instrumentalities, as well as government-owned and controlled corporations in
line with the BSP’s role as fiscal agent of the NG
• Performs accounting functions and manages the information technology requirements
of the FMOO
Provides technical and operational services related to reserves management and
domestic market operations including settlement of transactions

ANTI-MONEY LAUNDERING COUNCIL (AMLC)

The BSP Governor acts as the Chairman of the AMLC, which was created
pursuant to Republic Act (R.A.) No. 9160, otherwise known as the “Anti-Money
Laundering Act of 2001” (AMLA), to protect the integrity and confidentiality of
bank accounts and to ensure that the Philippines shall not be used as a money
laundering site for the proceeds of any unlawful activity.

The Council performs its functions through the AMLC Secretariat, which is
primarily tasked to receive transaction reports from covered institutions,
investigate suspicious transactions, and cause the filing of complaints or
petitions for the prosecution of money laundering offenses and other AMLA
violations. Section 8 of R.A. No. 9160 provides that all members of the AMLC
Secretariat shall hold full-time permanent positions within the BSP.

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Financial Supervision Sector (FSS)

OFFICE OF THE
DEPUTY
GOVERNOR

SECTORAL
OPERATIONS
MANAGEMENT
DEPARTMENT

POLICY &
FINANCIAL FINANCIAL FINANCIAL FINANCIAL
SPECIALIZED
SUPERVISION SUPERVISION SUPERVISION TECHNOLOGY
SUPERVISION
SUB-SECTOR I SUB-SECTOR II SUB-SECTOR III SUB-SECTOR
SUB-SECTOR

SUPERVISORY PAYMENT
POLICY & FINANCIAL FINANCIAL FINANCIAL SYSTEM
RESEARCH SUPERVISION SUPERVISION SUPERVISION OVERSIGHT
DEPARTMENT DEPARMENT I DEPARMENT IV DEPARMENT VII DEPARTMENT

TECHNOLOGY
DEPARTMENT OF FINANCIAL FINANCIAL FINANCIAL RISK &
SUPERVISORY SUPERVISION SUPERVISION SUPERVISION INNOVATION
ANALYTICS DEPARMENT II DEPARMENT V DEPARMENT VIII SUPERVISION
DEPARTMENT

FINANCIAL
SYSTEM FINANCIAL FINANCIAL FINANCIAL
INTEGRITY SUPERVISION SUPERVISION SUPERVISION
DEPARTMENT DEPARMENT III DEPARMENT VI DEPARMENT IX

TREASURY &
ASSET
MANAGEMENT
SUPERVISION
DEPARTMENT

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Sectoral Operations Management Department

• Implements internal rules, regulations, and policies of the BSP involving personnel
administration, employee services, learning services, budget administration, and
property and supplies management
• Responsible for catering to the unique requirements of the Sector in the exigencies of
the service

POLICY AND SPECIALIZED SUPERVISION SUB-SECTOR

Supervisory Policy and Research Department

• Develops policies through the use of quantitative models, research, and analytical
tools for financial system surveillance and banking supervision, and ensures alignment
of proposed policy studies with the FSS policy agenda
• Oversees and manages the preparation of timely, comprehensive, and coherent
reports, messages, briefers, and technical papers related to financial supervision

Department of Supervisory Analytics

• Designs and implements strategies, processes, policies, and procedures that enable
the Financial Supervision Sector and the BSP to govern, acquire, manage, store,
provide, and analyze the BSP’s supervisory data and information assets
• Collaborates with various units to maximize the power of data and analytics to unlock
insights, inform policy making, enhance supervision and surveillance, and make
regulatory compliance more cost-effective

Financial System Integrity Department

• Ensures that BSFIs comply with anti-money laundering (AML) and combating the
financing of terrorism (CFT) laws and regulations, and effectively implement a robust
money laundering and terrorist financing risk management system appropriate to
their risk profile
• Develops AML/CFT supervisory strategies, rules, regulations, guidelines, and
examination procedures for BSFIs, aligned with international AML/CFT standards and
best practices adjusted according to Philippines’ AML risk and context

Treasury and Asset Management Supervision Department

• Conducts effective onsite and offsite supervision of BSFIs, particularly their capital
market activities; treasury, fund management, and investment management activities;
sales and marketing practices, and other related areas
• conducts regular system-wide surveillance activities and thematic reviews to
determine emerging trends and risks affecting treasury and trust businesses

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FINANCIAL SUPERVISION SUB-SECTOR I

Financial Supervision Departments I – III

• In-charge of the onsite examination of:
o universal banks and their subsidiaries/affiliates;
o commercial banks and their subsidiaries/affiliates;
o foreign banks and their subsidiaries/affiliates; and
o thrift, cooperative, and rural banks
• Maintains the Institutional Overview (a document that represents a continuously
updated report of examination), handles critical requests of banks and non-banks
that require BSP approval, and supports implementation of new supervisory processes
and concerns

FINANCIAL SUPERVISION SUB-SECTOR II

Financial Supervision Departments IV – VI

• In-charge of the onsite examination of:
o universal banks and their subsidiaries/affiliates;
o commercial banks and their subsidiaries/affiliates;
o foreign banks and their subsidiaries/affiliates; and
o thrift, cooperative, and rural banks
• Maintains the Institutional Overview (a document that represents a continuously
updated report of examination), handles critical requests of banks and non-banks
that require BSP approval, and supports implementation of new supervisory processes
and concerns

FINANCIAL SUPERVISION SUB-SECTOR III

Financial Supervision Departments VII – VIII

• In-charge of the onsite examination of:
o universal banks and their subsidiaries/affiliates;
o commercial banks and their subsidiaries/affiliates;
o foreign banks and their subsidiaries/affiliates;
o thrift, cooperative, and rural banks; and
o government-owned banks
• Maintains the Institutional Overview (a document that represents a continuously
updated report of examination), handles critical requests of banks and non-banks
that require BSP approval, and supports implementation of new supervisory processes
and concerns

Financial Supervision Department IX

• Monitors and supervises non-bank financial institutions, including investment houses
with quasi-banking and/or trust license, and non-stock savings and loans associations
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• Conducts spot checking of pawnshops and money changers to determine compliance

with applicable laws and regulations

FINANCIAL TECHNOLOGY SUB-SECTOR

Payment System Oversight Department

• Serves as the Bank’s dedicated unit for the formal oversight of the national payment
system (NPS)
• Issues policies and regulations relevant to the NPS and ensures that BSFIs and other
participants in the payment system adhere to payments-related policies and
applicable international standards

Technology Risk and Innovation Supervision Department

• Conducts Information Technology (IT) supervision of BSFIs and ensures a safe and
sound cybersecurity environment for the Philippine financial services industry through
cybersecurity surveillance and oversight
• Promotes digital innovation in the financial services industry through active
engagement with fintech players, development and implementation of regulatory
sandbox, and conduct of fintech policy research initiatives and accelerator projects

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Monetary and Economics Sector

OFFICE OF THE DEPUTY

GOVERNOR

SECTORAL OPERATIONS
DEPARTMENT OF LOANS
MANAGEMENT
AND CREDIT
DEPARTMENT

MONETARY POLICY INTERNATIONAL MONETARY

AFFAIRS & SURVEILLANCE
SUB-SECTOR SUB-SECTOR

DEPARTMENT OF INTERNATIONAL
ECONOMIC RESEARCH OPERATIONS DEPARTMENT

DEPARTMENT OF INTERNATIONAL RELATIONS

ECONOMIC STATISTICS DEPARTMENT

CENTER FOR MONETARY &

FINANCIAL POLICY

ECONOMIC & FINANCIAL

LEARNING CENTER

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Sectoral Operations Management Department

• Implements internal rules, regulations, and policies of the BSP involving personnel
administration, employee services, learning services, budget administration, and
property and supplies management
• Responsible for catering to the unique requirements of the Sector in the exigencies of
the service

Department of Loans and Credit

• Implements the credit policies of the BSP and undertakes studies on credit policies
• Conducts credit examination of banks and extends loans and advances to banks

MONETARY POLICY SUB-SECTOR

Department of Economic Research

• Principal policy research and technical arm of the Bank
• Produces monetary and economic data needed in the formulation and
implementation of monetary policy

Department of Economic Statistics

• Generates monetary and economic statistics needed in the formulation and
implementation of monetary policy

Center for Monetary and Financial Policy

• Develops a comprehensive and integrated research program that will provide the
research resources required for the formulation of monetary policies

Economic and Financial Learning Center

• Central arm of the Bank in providing monetary, financial, and economic information to
the public

INTERNATIONAL MONETARY AFFAIRS AND SURVEILLANCE SUB-SECTOR

International Operations Department

• Supports the promotion and maintenance of monetary stability and external
sustainability through the management of external debt, foreign investments, and
other foreign exchange transactions

International Relations Department

• Monitors and analyzes regional and global economic, financial, and trade development
issues, and assesses their impact on the Philippine economy
• Strengthens and initiates relations with foreign entities by complying with the
commitments arising from membership and participating in international and regional
associations and groupings
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Currency Management Sector (CMS)

OFFICE OF THE GOVERNOR

(DEPUTY GOVERNOR)*

OFFICE OF THE SENIOR CURRENCY ISSUE

ASSISTANT GOVERNOR - AND INTEGRITY
SECURITY PLANT COMPLEX (SPC) OFFICE

DEPARTMENT OF FINANCIAL
GENERAL SERVICES SERVICES GROUP

BIDS AND AWARDS

COMMITTEE
SECRETARIAT-SPC

CURRENCY METRO MANILA

REGIONAL
PRODUCTION CURRENCY
OPERATIONS
SUB-SECTOR OPERATIONS
SUB-SECTOR
SUB-SECTOR

BANKNOTES &
SECURITIES LA UNION CASH
PRODUCTION REGIONAL OFFICE DEPARTMENT
MANAGEMENT AND LUZON
DEPARTMENT BRANCHES

CEBU
BANKNOTES & REGIONAL OFFICE
SECURITIES AND VISAYAS
PRINTING BRANCHES
DEPARTMENT
DAVAO REGIONAL
MINT & REFINERY OFFICE AND
OPERATIONS MINDANAO
DEPARTMENT BRANCHES

*Subject to TPA

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Currency Issue and Integrity Office

• Issues currency to Cash Department and Regional Operations Sub-Sector based on

their requisitions
• Preserves and maintains the integrity of currency

Department of General Services

• Implements internal rules, regulations, and policies of the BSP involving personnel
administration, employee services, learning services, budget administration, and
property and supplies management
• Provides procurement support to the Bids and Awards Committee in the Security Plant
Complex
• Responsible for catering to the unique requirements of the Sector in the exigencies of
the service

Financial Services Group

• Prepares financial statements, records financial receipts/disbursements, and processes
bills for payment

Bids and Awards Committee Secretariat - SPC

• Provides administrative, secretariat, and technical support to the Bids and Awards
Committees in the Security Plant Complex

CURRENCY PRODUCTION SUB-SECTOR

Banknotes and Securities Production Management Department

• Handles various control and support functions in relation to the printing of banknotes
and other security documents

Banknotes and Securities Printing Department

• Performs the printing of banknotes, judicial forms, and other security documents

Mint and Refinery Operations Department

• Manages and performs the minting of coins and commemorative medals, and the
refinery of gold purchased from local panners and miners

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REGIONAL OPERATIONS SUB-SECTOR

• Supervises the BSP Regional Offices/Branches in performing the following functions:
cash operations, cash administration, gold buying operations, and economic and
financial literacy programs.
La Union Regional Office Cebu Regional Office
o Cabanatuan Branch o Bacolod Branch
o Tuguegarao Branch o Dumaguete Branch
o Batac Branch o Iloilo Branch
o San Fernando (Pampanga) Branch o Roxas Branch
o Dagupan Branch o Tacloban Branch

Davao Regional Office Reporting directly to ROSS

o Cotabato Branch o Legazpi Branch
o Zamboanga Branch o Lucena Branch
o Ozamiz Branch o Naga Branch
o Cagayan de Oro Branch
o General Santos Branch
o Butuan Branch

METRO MANILA CURRENCY OPERATIONS SUB-SECTOR

Cash Department
• Responsible for the supply, issuance, and exchange of currency
• Serves as depository and custodian of cash, securities, gold, and other forms of
valuable assets

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Corporate Services Sector (CSS)

OFFICE OF THE
DEPUTY
GOVERNOR

PAYMENTS AND
PROVIDENT FUND
SETTLEMENTS
OFFICE
OFFICE

SYSTEMS & INFORMATION

METHODS OFFICE SECURITY OFFICE

SECTORAL
BIDS AND AWARDS
OPERATIONS
COMMITTEE
MANAGEMENT
SECRETARIAT
DEPARTMENT

MANAGEMENT HUMAN
COMPTROLLERSHIP
SERVICES RESOURCE SUB-SECTOR
SUB-SECTOR SUB-SECTOR

FACILITIES HUMAN FINANCIAL

MANAGEMENT & RESOURCE ACCOUNTING
ENGINEERING MANAGEMENT DEPARTMENT
DEPARTMENT DEPARTMENT

BUDGET
PROJECT HUMAN
PLANNING &
DEVELOPMENT & RESOURCE
SPECIAL STUDIES
MANAGEMENT DEVELOPMENT
GROUP
OFFICE DEPARTMENT

PROCUREMENT BSP
OFFICE INSTITUTE

ADMINISTRATIVE HEALTH &

SERVICES WELLNESS
DEPARTMENT DEPARTMENT

ASSET KNOWLEDGE
MANAGEMENT MANAGEMENT
DEPARTMENT GROUP

SECURITY DATA
SERVICES MANAGEMENT
DEPARTMENT & ANALYTICS 26
GROUP
 2019 Bangko Sentral ng Pilipinas Organization Primer

Payments and Settlements Office

• Ensures the smooth flow of the country’s payments and settlements system through
the management of the Philippine Payments and Settlements System or PhilPaSS
Responsible for the implementation and operation of the Personal Equity and
Retirement Account Registry System

Information Security Office

• Responsible for the development, adoption, implementation, and enforcement of
information security policies, standards, and procedures, and data privacy and
protection policies covering digital and non-digital information assets of the BSP

Bids and Awards Committee Secretariat

• Provides administrative, secretariat, and technical support to the Bids and Awards
Committees in the BSP-Head Office

Provident Fund Office

• Administers the Provident and Housing Funds, and implements policies and directives
of the Provident Fund’s Board of Trustees
• Manages the Funds’ investment portfolio and its earnings

Systems and Methods Office

• Ensures a well-organized and integrated Bank-wide effort to develop and maintain
efficient systems and procedures
• Provides recommendations along the areas of manualization, business process
reengineering, and systems support

Sectoral Operations Management Department

• Implements internal rules, regulations, and policies of the BSP involving personnel
administration, employee services, learning services, budget administration, and
property and supplies management
• Responsible for catering to the unique requirements of the Sector in the exigencies of
the service

MANAGEMENT SERVICES SUB-SECTOR

Facilities Management and Engineering Department

• Responsible for the general upkeep of the BSP main building complex and premises
• Responsible for the operations and maintenance of all mechanical, electrical,
electronic, and auxiliary/accessory equipment systems of the Bank

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Project Development and Management Office

• Supervises the construction and renovation of offices and buildings in the BSP Main
Office, Security Plant Complex, and BSP Regional Offices/Branches, and the
maintenance of the Philippine International Convention Center

Procurement Office
• Processes purchase requisitions from departments/offices
• Assists the Bids and Awards Committees in the BSP Head Office in the conduct of
procurement activities
• Conducts procurement-related studies, market research, and price verification, and
drafts internal procurement standards and procedures for the BSP

Administrative Services Department

• Responsible for property control, insurance of real and movable properties,
warehousing, records management, printing of bank circulars/internal issuance/forms,
mail distribution, and telephone switch board operations

Asset Management Department

• Administers, preserves, and disposes properties acquired or foreclosed by the BSP in
payment for loans secured from the Bank, including real estate holdings which are not
utilized or earmarked for use pursuant to its objectives/regular business

Security Services Department

• Protects and safeguards installations, properties, currency documents/information,
and personnel of the BSP Head Office, Security Plant Complex, and Regional Offices
and Branches, and BSP acquired assets against loss thru robbery, theft, and other
crimes, fire, natural and man-made hazards; manages, maintains and operates the
integrated electronic security systems; and develops and implements BSP security
training programs

HUMAN RESOURCE SUB-SECTOR

Human Resource Management Department

• Formulates policies and sets standards on recruitment, selection and placement,
administration of employee benefits and other employee services of the BSP
• Takes the lead in promoting the BSP’s corporate social responsibility and its
participation in various government advocacies and programs

Human Resource Development Department

• Manages the development of the Bank as an organization through organizational
change and development, organizational planning and staffing, and succession
management
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BSP Institute
• Provides learning and leadership strategies through various trainings and educational
programs, facilitates workplace development interventions, manages the performance
management system, and ensures that the holistic talent development programs meet
the needs of every employee in the BSP

Health and Wellness Department

• Manages programs and services on physical wellness such as clinical services, health
programs, and gym facilities
• Coordinates programs and services aimed at social, emotional and mental wellness,
and the other domains of employee well-being

Knowledge Management Group

• Develops, implements, and assesses the BSP’s knowledge management (KM) Strategic
Plan, including related programs, policies and guidelines
• Sustains existing KM initiatives and develops programs aimed at further strengthening
a culture that enables the capture, sharing, and learning of tacit knowledge

Data Management and Analytics Group

• Handles the application of HR data management and analysis techniques on HR
issues and concerns, and provides HRSS with evidence-based business intelligence
and insights to steer specific HR strategies, answer critical concerns, measure the
impact of HR initiatives, and support policy decisions

COMPTROLLERSHIP SUB-SECTOR

Financial Accounting Department

• Responsible for the accounting, bookkeeping, budget administration, and
disbursement activities of the Bank

Budget Planning and Special Studies Group

• Serves as technical staff of the BSP Budget Committee in the formulation of budget
guidelines, preparation of budget forms, and dissemination of information
• Reviews and analyzes budgetary estimates of income and expenses submitted by the
sector heads

Human Resource Development Department

A. Mabini. St., Malate 1004, Manila, Philippines

Trunkline (632) 8708-7701
www.bsp.gov.ph
[email protected] 29