Over 80 participants from various partner organizations, and micro entrepreneurs gathered at Bai Hotel, Cebu for the Ramon Aboitiz Foundation, Inc. (RAFI) and RAFI Microfinance’s inaugural Governance, Risk, and Compliance (GRC) Forum, themed “Empowering Stakeholders: Practical Risk Management for Sustainability and Resilience” on September 27, 2024. This event aimed to provide valuable insights into the local challenges of sustainability, compliance, technology for physical security, business continuity, risk mitigation, and fraud risk management.
In her opening speech, Iris Dorado, Chief Finance Officer of RAFI Microfinance, expressed the significance of building lasting structures over merely meeting compliance requirements. “Resilience is like a muscle that needs regular exercise,” she stated, highlighting that practical risk management should be seen as an opportunity for innovation rather than a restrictive set of rules. Dorado’s perspective set a collaborative tone for the forum, encouraging participants to rethink their approaches to risk management.
The forum was packed with information and insights. RAFI invited 6 speakers to tackle topics on practical and attainable risk management implementation process that can be applied and replicated according to the participant’s organization. The speakers and their topics were:
- Annacel Natividad – Chief Financial Officer, Chief Risk Officer of Aboitiz Foods, Inc. “Navigating Risk for Sustainable Growth and Resilient Communities”
- Atty. Rainier Anthony M. Milanes – Chief Information Technology Officer of National Privacy Commission. “The 10 Pointers for Substantial Compliance”
- Leandro Paralisan – Chief Executive Officer of Tactical Response Concepts. “Resilience Re-Imagined: Human and Technology Nexus in Modern Physical Security”
- Veronica T. Gabaldon – Executive Director, Philippine Disaster Resilience Foundation“Strengthening MSME Resilience through Business Continuity”
- Engr. Dan Jules Joralan – Assistant Vice President of Environmental and Risk Management Phils. Inc. “Loss Control Management: Risk Mitigation and Risk Transfer Strategies”
- George Francis Roldan – Branch Head of Philippine National Bank “Fraud Risk Management”
The keynote address delivered by Ms. Annacel Natividad, spoke about the necessity of a robust, inclusive risk management framework to enhance sustainability and resilience within communities. She highlighted the critical roles those various stakeholders—including NGOs, foundations, microfinance institutions (MFIs), and local government units (LGUs)—play in funding sustainable initiatives, setting standards, and ensuring economic and disaster resilience.
Natividad further elaborated on the transformative potential of technological innovations such as artificial intelligence and the importance of continuous learning and collaboration. “Despite the complexities of modern risks, integrating practical risk management into all levels of strategy and operations can pave the way for a sustainable and resilient future,” she said.
The forum featured a series of workshops and panel discussions that delved deeper into practical strategies for implementing effective risk management. Participants had the opportunity to engage with experts and share best practices, fostering a collaborative environment aimed at driving meaningful change in their respective fields.
Joseph Diamante, owner of Sinugbox Barbecue and a member of RAFI Microfinance’s Tindahan ni Nanay, expressed his gratitude for being invited to the event. He felt valued when it was emphasized that small to medium enterprises play a significant role in the country’s GDP, highlighting the importance of participating in forums like this for their business growth.
“It’s wonderful to have programs like this. When the speakers mentioned, ‘I’m just a small business, why am I here?’ it resonated with me. They clarified that small to medium enterprises contribute substantially to our economy, and I truly feel honored to be part of this discussion. My key takeaway is the importance of sustainability—developing continuity programs that allow me to engage in these initiatives while ensuring my business runs smoothly.
Additionally, given the rising concerns about data privacy breaches, I learned to prioritize compliance with data protection regulations. Since I collect customer information online—like names, addresses, and phone numbers—I’m now more cautious about safeguarding this data, especially when working with third-party delivery services. I’ve also become more vigilant about potential fraudulent transactions from both suppliers and customers to minimize risks.
I’m excited to share these insights with my wife, friends, and employees,” he shared.
As the first GRC Forum concludes, the enthusiasm and commitment of the participants shine through. Their strong desire to evaluate their systems and implement or replicate the processes learned will hopefully improve and benefit their organizations.
