FICOBank Installs New President/Chief Executive Officer and Chief Compliance Officer

In an organization, retirement, resignation and replacement are inevitable. The persons occupying the posts will not be there forever, inasmuch as they will—sooner or later—retire or resign, take leave of absence or may be removed/replaced from office, or meet life’s eventuality, like death or permanent disability. It is for this reason that the Bank put in place its Management Succession Plan (MSP), with the aim of preparing the “successor generation” to fill the void and assume the post, in case there will be a temporary or permanent change in the positions of key officers, whether planned or unplanned. With it, the legitimate interests of the Bank, as well as its operations, people and clients, are well-protected.

To address temporary and permanent changes in key positions in the different echelons of management, the Bank, by means of its MSP, is making sure of the availability of potential successors that are prepared to fill key positions in the Bank from its feeder groups and back-up candidates for particular management positions.

Owing to its MSP, the Bank is spared from any problem in achieving its goals of business continuity and self-preservation when there was a need for replacements in key management positions, as a result of the death of Mr. Herminio G. Ocampo, the former President/Chief Executive Officer (CEO) of FICOBank, and the retirement of Mr. Oscar M. Manintan, the Bank’s former Chief Compliance Officer (CCO). With such MSP of the Bank, internal hiring was made. From the feeder group of Senior Vice Presidents (SVPs), Atty. Hubert E. Molina, then SVP for Treasury & Corporate Services Group (TCSG), was nominated, screened, selected and installed as new President & CEO of the Bank. On the other hand, from the back-up candidates down the leadership pipeline, a progression approach was resorted to by the Board of Directors in identifying, appointing and installing Mr. Frederique M. Obedoza, then Branch Manager of FICOBank Malasiqui, as the new Chief Compliance Officer. The appointment of both senior officers took effect in February 2016.

President & CEO Molina is a Lawyer and a Certified Public Accountant (CPA). At FICOBank, he served as Executive Assistant to the President, Head of Asset Management & Legal Department, Vice President for Administration & Support Services and, later, as Senior Vice President for TCSG. Prior to his employment with the Bank, he was the Audit Staff of the EA Carabeo & Associates, CPAs, Senior Associate of the Narciso Jimenez Law Office in Makati City, and Consultant of the Department of Agrarian Reform. He also served as Professor of the Centro Escolar University, Manuel L. Quezon University – College of Law, St. Scholastica’s College and the Isabela State Univerisity – College of Law. He finished his BS in Commerce, major in Accounting, at the University of Santo Tomas, and obtained his Bachelor of Laws from the San Beda College.

CCO Obedoza is also a CPA. He was a former Credit Officer of the Bank’s Credit Department and the Branch Manager of FICOBank Malasiqui. With other institutions, he held the positions of Loan Officer/Appraiser at the Land Bank of the Philippines, and Head of Economic Enterprise Division and Executive Secretary of the Municipal Mayor at the Local Government Unit of Ramon, Isabela. He is a graduate of BS in Business Administration, major in Accounting, at the Philippine School of Business Administration, and Bachelor of Laws, at the Northeastern College.