Jan 2016 - National Reinsurance Corporation of the Philippines (Pending Project)
JEF R. LACSON
Head of Audit, IT & Finance
- Manila, Philippines
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 one of the world's top 20 general insurance and reinsurance companies, with operations in all the key insurance markets, as Chief Financial Officer of its local entity, with reporting lines to the Asia Pacific group management.
Previously, he worked 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, Projects & IT and Internal Audit, where he initiated and led various initiatives that contributed to streamlining of processes and expense 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 and was sent as industry scholar in ASEAN School for Young Managers.
Responsible for establishing and controlling the financial systems and administrative services of the company, and providing financial information to Chief Executive, Board of Directors and Regional Management.
Ensures all Management, Financial accounting and Investment activities and administrative activities are performed to achieve its strategic goals.
Accountable for the administrative, financial, and risk management operations of the company, including the development of financial and operational strategy, metrics tied to that strategy, & the ongoing development and monitoring of control systems designed to preserve company assets and report accurate financial results. Also responsible for overseeing the operations of Management & Technical Accounting and directly managing Treasury and Office Services.
VP & HEAD OF TREASURY - Concurrent (Jul to Dec 2016) - provide overall direction and coordination to the treasury functions of the organization.
KEY ACCOMPLISHMENT(S): Sponsored almost 20 projects that resulted in significant improvement in operational efficiency of the function. Benefits include 33% improvement in receivable days and breakeven operating cash flow, after 8 years of negative flow.
SAVP & HEAD OF OFFICE SERVICES - Concurrent (Jan 2015 to Dec 2016): Responsible for day-to-day activities related to procurement, billing and record keeping, agency personnel management, and logistics within the organization.
KEY ACCOMPLISHMENT(S): Managed operating expenses which resulted in 20% lower than the prior year.
SAVP & HEAD OF COLLECTIONS - Concurrent (Nov 2015 to Jul 2016): Responsible for overseeing the collection efforts of approximately $130m accounts receivable balances.
KEY ACCOMPLISHMENT(S): Led and managed collection visits to 66 clients in less than 30 days. Established collection protocol, escalation and monitoring process, which led to achievement of annual target in one quarter.
SAVP, HEAD OF MANAGEMENT ACCOUNTING & CHIEF ACCOUNTING OFFICER (Jul 2015 - Jul 2016): Responsible for ensuring that all accounting and internal control requirements of the Corporation.
KEY ACCOMPLISHMENT(S): Led and managed improvements in the function. Benefits include minimum annual savings of almost USD 0.11 million.
SAVP & 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.
KEY ACCOMPLISHMENT(S): Initiated and led almost 55 projects that resulted to significant improvement in operational efficiency of the function. Benefits include minimum annual savings of USD 0.16 million.
SAVP & HEAD OF GENERAL SERVICES - Concurrent (Jan to Jul 2016): responsible for day-to-day activities related to procurement, billing and record keeping, agency personnel management, and logistics within the organization.
KEY ACCOMPLISHMENT(S): Initiated and led almost 52 projects that resulted in significant improvement in operational efficiency of the function. Benefits include minimum annual savings of USD 0.06 million.
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.
KEY ACCOMPLISHMENT(S): Assisted the Audit Committee of the Board in the establishment of Compliance and Governance function that led to 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
SENIOR MANAGER & DEPUTY HEAD OF INTERNAL AUDIT (Nov 2010 to Jun 2012): Responsible for the management of all internal audit engagements and reporting to the Audit Committee.
KEY ACCOMPLISHMENT(S): Standardized internal audit methodology and working papers of the group that led to: 400% increase in productivity of the internal audit.
KEY MANAGEMENT FUNCTIONS:
SUPERVISING SENIOR, PERFORMANCE & TECHNOLOGY (July 2009 - June 2010)
SENIOR AUDITOR / ADVISOR, RISK ADVISORY SERVICES (November 2008 - June 2009)
SENIOR ASSOCIATE - RISK ADVISORY SERVICES (Nov 2007 - Oct 2008)
ASSOCIATE - RISK ADVISORY SERVICES (Jun 2006 - Oct 2007)
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.
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
Established the back-office for Investment & Finance Compliance function, leading to better oversight and control over the involved function.
Led and managed the improvement of closing process. Improved processing days by 25%.
Led and managed the reconfiguration of SAP FI-CO to improve efficiency and reporting capability of the finance team
Established financial analysis template which improved process by 30% and provided USD 0.02 million savings in manpower expense
Led and managed almost 70 projects that resulted to significant improvement in operational efficiency of the Company
Led and managed the establishment of the function. This includes development of standard methodology and introduction of web-based monitoring and documentation tool
Assisted in the implementation and promotion of 5s & Kaizen Idea Factory
Led and managed the migration of legacy data for claims and life reinsurance.
Streamlined transaction approval process, which led to substantial savings in executive time. Reduce approval steps by 75%
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.
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
Led and managed the improvement in server facilities. This include equipment refresh, co-location and data center improvement
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
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.
Led the Company's transition to digital records. Almost 5 million pages of documents were scanned and indexed
Established office safety & evacuation policies and procedures
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.
Led and managed improvement in procurement process, generated annual minimum savings of almost USD 0.05 million.
Improved seating capacity and facilities by 150%, with less than USD 0.02 million expense (5% of the budgeted amount)
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.
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.
Led the re-launch Enterprise Risk Management program for the Company
Assisted the Audit Committee in the establishment of Compliance and Governance function
Led the quality review of Company’s system implementation of customized Oracle for Operations Division.
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.
Led the quality review of Company’s system implementation of SAP - FS-RI, FS-CD, FI-GL & FI-CO.
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
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.
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
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
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.
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.
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.
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.
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
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
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