BSP reorganizes, expands

financial technology, payment systems and consumer protection.

The Currency Management Sector under Assistant Governor Dahlia Luna, meanwhile, will be mainly responsible for the forecasting, production, distribution and retirement of Philippine currency.

“The units in the Security Plant Complex in charge of banknotes, coins and securities production, mint refining, as well as the currency production support activities and the departments and offices that formerly belonged to the Monetary Stability Sector, specifically the Cash Department, the Currency Issue and Integrity Office and the BSP regional offices and branches, will now be organized into the Currency Management Sector,” the BSP said.

The Corporate Services Sector headed by Deputy Governor Cyd Tuaño-Amador, lastly, will be responsible for the effective management of corporate strategy, communications, and risks as well as human, financial, technological and physical resources to support the central bank’s core functions.

“In addition to the four BSP Sectors, the reorganization will also result in reinforced units that promote effective risk management and compliance as well as internal audit,” the central bank said.

Finally, top level commitments to pro-active systemic risk management and a more inclusive and responsive financial system will be institutionalized.

“The BSP is committed to continuously deliver on its mandate and provide effective and efficient service delivery throughout the process of reorganization. All BSP stakeholders will be well-informed and guided by the BSP offices/departments on matters pertaining to specific dealings with their respective stakeholders,” the central bank said.