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SUMMARY

A Certified Public Accountant (CPA), Certified Information Systems Auditor (CISA), Certified Internal Auditor (CIA) and a Certified Lean Six Sigma Greenbelt (CLSSGB) Candidate, Jef has more than 10 years of experience in management consulting, auditing, accounting and operations management.

He works for the sole domestic professional reinsurer and publicly listed insurance company (with highest capitalization) in the Philippines, significantly controlled by Yuchengco Group, BPI and GSIS, as Head of Finance, overseeing technical and management accounting, treasury and corporate office services.

Prior to his current appointment, he is the head of Project / Support Office, the group that handles Corporate Program Management, IT and Office Services. In this role, he initiated and led several transformation projects, including streamlining of processes, rehabilitation of existing facilities and restructuring of functions, which led to a USD 0.15 million minimum annual savings in manpower and outsourcing expenses.

He joined his current company in November 2010, as Deputy Head of Internal Audit, and was eventually promoted as Head (Chief Audit Executive) in June 2012. In this post, he initiated and managed various special projects that led to: 400% increase in productivity of the internal audit; improvement in corporate governance rating from 64% to 86.57%, the highest in the industry and among the top 50 publicly-listed company in the country in 2011; and 40% optimization in manpower leading to almost USD 1.10 million annual savings.

In 2006, he started his career as an Associate in Risk Advisory Services in one of the leading auditing and advisory firms in the Philippines, affiliated with one of the world's big-four firms, where he was fast tracked to Associate Manager. His involvement with the various high-profile engagements and clients gave him the opportunity to work outside the country and collaborate with various clients with diverse nationalities and cultures through inter-firm engagements with Malaysia, Hong Kong and Singapore.

He earned his degree in accountancy from a reputable college in his hometown, where he was an academic scholar, full-time student assistant, cum-laude candidate, and recipient of the outstanding leadership award from various school and community organizations. He attended the Management Development Program of an internationally-recognized insurance institute.

PROFESSIONAL EXPERIENCE

Jul 2015Present

Vice President & Head of Finance

National Reinsurance Corporation of the Philippines

Accountable for the administrative, financial, and risk management operations of the company, to include the development of a financial and operational strategy, metrics tied to that strategy, and the ongoing development and monitoring of control systems designed to preserve company assets and report accurate financial results. Oversees the operations of Management & Technical Accounting and directly manages Treasury and Office Services.


HEAD OF TREASURY - Concurrent (Jul 2016 to Present) - provide overall direction and coordination to the treasury functions of the organization.

HEAD OF OFFICE SERVICES - Concurrent (Jan 2015 to Present) - Responsible for day-to-day activities related to procurement, billing and record keeping, agency personnel management, and logistics within the organization

HEAD OF COLLECTIONS (Nov 2015 to Jul 2016) - Responsible for overseeing the collection efforts of approximately USD 130 million accounts receivable balances

HEAD OF MANAGEMENT ACCOUNTING  & CHIEF ACCOUNTING OFFICER (Jul 2015 - Jul 2016)

  • Responsible for ensuring that all accounting allocations are appropriately made and documented.
  • Responsible for establishing and executing internal controls over the company’s accounting and financial procedures.
  • Responsible for coordinating with external tax accountants for income tax preparation and auditors who prepare internal and regulatory audits of the company.
  • Responsible for providing accurate and comprehensive financial information to executive management
  • Responsible for finance policies that will help executive management in assessing risk and analyzing  efficiency of the organization.

Aug 2014Jul 2016

Senior Assistant Vice President & Head of IT & Projects (Project / Support Office)

National Reinsurance Corporation of the Philippines
  • Responsible for managing the implementation of corporate programs and priorities
  • Oversees the operations of IT and Office Services

HEAD OF IT SERVICES - Concurrent (May 2014 to Jul 2016)

  • Responsible for the management of all operational activities of the IT Services function, as well as provide direction and support for IT solutions that enhance mission-critical business operations. Works closely with decision makers within the Company to identify, recommend, develop, implement, and support cost-effective technology solutions for all aspects of the business.
  • Manage the IT infrastructure of the Company, which includes SAP, Oracle, AS 400 and other in-house developed applications

HEAD OF OFFICE SERVICES - Concurrent (Jan 2015 to Jul 2016) - Responsible for day-to-day activities related to procurement, billing and recordkeeping, agency personnel management, and logistics within the organization

Nov 2010 Aug 2014 

Assistant Vice President & Head of Internal Audit / Chief Audit Executive

National Reinsurance Corporation of the Philippines
  • Responsible for all aspects of leading the internal audit function, this includes: planning, budgeting, hiring and training, strategy development, risk assessment, project management, management reporting, continuous improvement, talent development, and quality control.
  • Reports directly to the Audit Committee and administratively to the President / CEO.
  • Led and managed multiple internal audit engagements (special and regular) to provide independent and objective assurance on the adequacy and effectiveness of the organization’s network of risk management, control and governance processes, as designed and represented by the Management.
  • Handled reporting requirements of the Audit Committee to the Board and regulatory agencies
  • Adviser to the President / CEO for Corporate Planning and Risk Management matters

SENIOR MANAGER & DEPUTY HEAD OF COMPLIANCE - Concurrent (May 2011 to Jun 2012) - Responsible for the establishment and creation of Compliance unit that oversee regulatory and internal compliance requirements of the organization

SENIOR MANAGER & DEPUTY HEAD OF INTERNAL AUDIT (Nov 2010 to Jun 2012)

Jun 2006Nov 2010

Associate Manager - Risk Advisory / Performance & Technology

KPMG

Led and managed multiple engagements (from start to finish, this includes planning, execution, closing, and budget management) and competing priorities in a rapidly growing, fast-paced, interactive, results-based team environment. Heavily involved in conducting business process, general IT controls and application review for multiple audit clients concurrently and on numerous systems and applications. Proficient in the use of IDEA, ACL and other data analysis tool

KEY MANAGEMENT FUNCTIONS:

  • Group's Practice Lead for IT Strategy and IT Project Advisory Services
  • Group's Head of Quality Management Team (Project Delivery)
  • KPMG Philippines' IT Audit Training Facilitator, in support to KPMG Audit Methodology
  • KPMG Philippines' National Information Security Specialist
  • KPMG Global Preferred Assessor for Vendor Security Compliance Reviews

SUPERVISING SENIOR - PERFORMANCE & TECHNOLOGY (Jul 2009 - Jun 2010)

SENIOR AUDITOR - RISK ADVISORY SERVICES (Nov 2008 - Jun 2009)

SENIOR ASSOCIATE - RISK ADVISORY SERVICES (Nov 2007 - Oct 2008)

ASSOCIATE - RISK ADVISORY SERVICES (Jun 2006 - Oct 2007)

PROJECTS 

20152016

Collection & Reconciliation Re-engineering & Improvement

National Reinsurance Corporation of the Philippines

Led and managed collection visits to 66 clients in less than 30 days. Established and implemented collection protocol, escalation and monitoring process, which led to achievement of annual target in one quarter, and significant improvement in operating cash flow.

20152016

Management Accounting Establishment

National Reinsurance Corporation of the Philippines

Led and managed improvements in the accounting function, including establishment of Management Accounting sub-function. Benefits include minimum annual savings of almost USD 0.10 million

20152015

Investment & Finance Compliance Back-office

National Reinsurance Corporation of the Philippines

Established the back-office for Investment & Finance Compliance function, leading to better oversight and control over the involved function.

20152015

Financial Statement Closing Process

National Reinsurance Corporation of the Philippines

Led and managed the improvement of closing process. Improved processing days by 25%.

20152015

SAP Reconfiguration

National Reinsurance Corporation of the Philippines

Led and managed the reconfiguration of SAP FI-CO to improve efficiency and reporting capability of the finance team

20152015

Financial Analysis Template

National Reinsurance Corporation of the Philippines

Established financial analysis template which improved process by 30% and provided USD 0.02 million savings in manpower expense

20142016

Corporate Projects

National Reinsurance Corporation of the Philippines

Led and managed almost 70 projects that resulted to significant improvement in operational efficiency of the Company

20142015

Project Management Office Establishment

National Reinsurance Corporation of the Philippines

Led and managed the establishment of the function. This includes development of standard methodology and introduction of web-based monitoring and documentation tool

20152016

5s & Kaizen Idea Factory

National Reinsurance Corporation of the Philippines

Assisted in the implementation and promotion of 5s & Kaizen Idea Factory

20142015

Legacy Data Migration

National Reinsurance Corporation of the Philippines

Led and managed the migration of legacy data for claims and life reinsurance.

20142014

Corporate Approval Streamlining

National Reinsurance Corporation of the Philippines

Streamlined transaction approval process, which led to substantial savings in executive time. Reduce approval steps by 75%

20142016

Technology Support (IT Services) Re-engineering Improvement Projects

National Reinsurance Corporation of the Philippines

Led and managed almost 90 projects that resulted to significant improvement in operational efficiency of the function. Benefits include minimum annual savings of USD 0.15 million.

20142016

Security (Logical & Physical) Improvement

National Reinsurance Corporation of the Philippines

Led and managed improvements in the security (logical & physical) aspect of the Company. This include Installation of firewall, update of policies, upgrade of door access system and others

20152016

Server Facilities Improvement

National Reinsurance Corporation of the Philippines

Led and managed the improvement in server facilities. This include equipment refresh, co-location and data center improvement

20152015

Network Improvement

National Reinsurance Corporation of the Philippines

Led and managed improvement in network facilities of the Company. This include upgrade of existing software, installation of monitoring tools and back-up / alternative facilities, establishment of wireless network and others

20142016

Office Support (General Services) Re-engineering & Improvement Projects

National Reinsurance Corporation of the Philippines

Led and managed almost 75 projects that resulted to significant improvement in operational efficiency of the function. Benefits include minimum annual savings of USD 0.07 million.

20142016

Document Management

National Reinsurance Corporation of the Philippines

Led the Company's transition to digital records. Almost 5 million pages of documents were scanned and indexed

20152015

Office Safety

National Reinsurance Corporation of the Philippines

Established office safety & evacuation policies and procedures

20142015

Asset Management

National Reinsurance Corporation of the Philippines

Led the review of all company's asset and related processes, which includes management and disposal, generating one-time revenue of almost USD 1.50 million.

20142015

Procurement Management

National Reinsurance Corporation of the Philippines

Led and managed improvement in procurement process, generated annual minimum savings of almost USD 0.05 million.

20142015

Office Renovation

National Reinsurance Corporation of the Philippines

Improved seating capacity and facilities by 150%, with less than USD 0.02 million expense (5% of the budgeted amount)

2013Present

Strategic Management Paper 

National Reinsurance Corporation of the Philippines

Currently developing a study for the Company that involves development and implementation of strategic cross-functional decisions towards the attainment of organization’s vision, mission and objectives using strategic management principles and integrating knowledge and skills learned from the Management Development Program courses he attended.

20102014

Internal Audit Engagements 

National Reinsurance Corporation of the Philippines

Led a minimum of 30 internal audit engagements each year.

A total of 656 recommendations were provided to operating and senior management from 2011 to 2014 to improve their processes and operations, 72% of which are either being implemented or implemented already.

 

20122014

ERM Relauch 

National Reinsurance Corporation of the Philippines

Led the re-launch Enterprise Risk Management program for the Company

20122012

Compliance and Governance Function Creation 

National Reinsurance Corporation of the Philippines

Assisted the Audit Committee in the establishment of Compliance and Governance function

20122012

System Implementation - Quality Assurance (Phase 2) 

National Reinsurance Corporation of the Philippines

Led the quality review of Company’s system implementation of customized Oracle for Operations Division.

20112012

Business Policies & Work Procedures Documentation 

National Reinsurance Corporation of the Philippines

Initiated the re-documentation of all business policies and work procedures of the Company.

Reviewed existing business processes and provided reorganization recommendations to Management that may reduce manpower resources by 40% and savings in expenses by USD 1 million.

20102011

System Implementation - Quality Assurance (Phase 1) 

National Reinsurance Corporation of the Philippines

Led the quality review of Company’s system implementation of SAP - FS-RI, FS-CD, FI-GL & FI-CO.

20102011

Corporate Governance Review 

National Reinsurance Corporation of the Philippines

Reviewed the governance process which led to upgrade of Company’s corporate governance rating from 64% to 86.57%, the highest in the insurance industry

20102010

Internal Audit Process Re-engineering 

National Reinsurance Corporation of the Philippines

Re-engineered internal audit process that led to 400% increase in productivity of the six (6) professional staff. Minimum of 30 internal audit engagements were completed each year since then.

20062010

Information Risk Management 

Southeast Asia’s Largest Food, Beverage and Packaging Conglomerate

Lead in-charge for five (5) audit seasons in the information risk management of the largest publicly listed food, beverage, and packaging company in Southeast Asia, currently diversifying to energy, infrastructure and finance. The review covered all key business processes and testing of IT general controls & application controls of major subsidiaries, for the following systems: SAP, Ariba, Quantum, Hyperion and in-house developed web-based and mobile-based sales application

20062010

Internal Audit & Business Performance Advisory Engagements 

Various

Financial Institutions: Citigroup Business Service, Deutsche Bank AG, ANZ Banking Group Limited, Prulife Insurance Corporation, Standard Chartered Bank, Bank of Tokyo - Mitsubishi UFJ, Ltd, Bank of Commerce, Capmark Philippines, National Reinsurance Corporation. Mapfre Insular Corporation, Sony Life Insurance (Philippines) Corporation, Great Life Financial Assurance Corporation, Paramount Life and General Insurance Corporation, Philhealth Care, Inc., Mega International Commercial Bank Co., Ltd., GE Money Bank, Meralco Employees Savings and Loan Association, Inc., AsianLife and General Assurance Corporation, AsianLife Financial Assurance Corporation, Malayan Bank, GE Philippines, ACS Philippines, America Express Philippines

20082010

Strategy and Performance Projects  

Domestic Professional Reinsurance Firm 

Project Manager in the first SAP Reinsurance Module implementation in Southeast Asia for a domestic professional reinsurance firm that provides life and non-life reinsurance capacity to the Philippines and neighboring insurance markets. In-scope systems for implementation are FS-RI Basic System, msg Life Risk Manager, FS-CD and FI-GL.

He also assisted the company in its Strategy and Performance projects which include: IT General Controls Review, Business Requirements Planning, Vendor Selection, Organizational Design, Change Management & Business Process Improvements.

20092009

Business Process Review 

Philippine's Foremost Producer, Marketer and Distributor of Quality Sauces and Condiments

Led the process improvement initiatives for the Philippine's foremost producer, marketer and distributor of quality sauces and condiments. The review covered all key business processes and testing of IT general controls & application controls for the JD Edwards and other in-house developed application.

20092009

IT Strategy Assessment 

Life Insurance Company with the Second Highest Capitalization in the Philippines

Reviewed IT Strategy of a Life Insurance Company with the second highest capitalization in the Philippines. Provided several recommendations to improve technological aspect of the operations.

20082008

Internal Audit

Philippines’ Largest Integrated Media and Entertainment Company 

Collaborated with Communication Group – Internal Audit of Philippines’ largest integrated media and Entertainment Company in carrying-out the internal audit reviews of several business processes and select in-house & packaged applications. This includes the detailed review of financial reporting processes in SAP financial and controlling module, procurement in Epicor, inventory in ICMS and other processes in certain in-house developed systems.

20082008

Forensic Audit 

World's Largest Producer and Marketer of Fruits & Vegetables 

Lead in-charge the forensic audit through data mining and database integrity testing using IDEA data analysis software for the world's largest producer and marketer of high-quality fresh fruits, fresh vegetables and fresh cut flowers with a growing line of quality packaged foods

20072007

Business Processes and Data Integrity Review

Non-life Insurance Company

Led the review of all major business processes and data integrity of the non-life arm of the third largest and the pioneer domestic life insurance company in the Philippines

20062006

SOx Attestation 

Philippines' Largest Independent Power Producer  

Led the Sarbanes-Oxley Attestation for the largest Independent Power Producer in the Philippines. This includes execution of system development audits, Sarbanes-Oxley 404 compliance, incorporating COSO framework, logical and physical security, application reviews, system development life cycle procedures, disaster recovery, infrastructure strategy and other system related issues