(SGV) was accredited by the Anti-Money Laundering Council (AMLC) as 1st Institutional Training Provider (ITP)

On September 4, 2019, SyCip Gorres Velayo & Company (SGV) was accredited by the Anti-Money Laundering Council (AMLC) as 1st Institutional Training Provider (ITP). The accreditation recognizes SGV’s relevant experience in financial crime services, including advisory projects such as framework assessments, independent assessments, policy gap analysis, know-your-client/client due diligence remediation, institutional risk assessments, and transaction monitoring scenarios tuning. Pursuant to AMLC’s action plans on capacity building and promoting anti-money laundering (AML) and counter financing of terrorism (CFT) awareness, SGV will facilitate and conduct training seminars and fora for covered persons and institutions.


From left to right: Christian G. Lauron, CPA, MBA, FRM (Partner-Financial Services), Francisco Roque Lumbres, CFA, PRM (Partner-Financial Services), Glaiza Escaño, CPA (Director-Financial Services), Meliza Deniega (Director-Financial Services), Veronica Arce Balisi, CPA, CAMS (Partner-Financial Services), Vicky Lee-Salas, CPA, CAMS (Partner and Head of Financial Services), Atty. Mel Georgie Racela, CPA, LLM (AMLC Executive Director), Jerry Leal (AMLC Director Detention and Prevention Department), Atty Allan Julius Azcueta, DipPM, CAMS (AMLC Risk Assessment and Domestic Commitments Staff), Alvin Bermido (AMLC Deputy Director and Head of Commitments and Policy Group) and Marlon Jerard Paruginog (AMLC Capacity Building and Communications Staff).

SGV is the Philippine’s largest multidisciplinary professional services firm. The Firm provides integrated solutions that draw on diverse and deep competencies in assurance, tax, transaction and advisory services. SGV’s unmatched track record is a result of the Firm’s commitment to empower clients with programs and initiatives that enhance their capabilities to meet the challenges of today’s market.

SGV’s Financial Crime Services team include Certified Anti-Money Laundering Specialists (CAMS), experienced financial services industry professionals, information technology specialists, statisticians and fraud examiners. To view SGV’s training schedule, click this link.

For further details and should you want to hear more about SGV’s AML/CTF services, please feel free to reach out to the following people below:

SGV marks 73 Purposeful Years

SGV Partners and Staff gathered to celebrate the Firm’s 73rd Staff Anniversary last 20 August 2019 at the SMX Convention Center in Pasay City. The event recognized the Firm’s outstanding professionals who stand united and committed to delivering exceptional client service and fulfilling our Purpose.

SGV Vice Chairman and Deputy Managing Partner Wilson Tan welcomed over 5,000 professionals to the first part of the anniversary celebrations, which featured staff promotions and recognized SGV’s CPA board examination top placers and the passers of the Certified Information Systems Auditor examinations. He thanked everyone for their exceptional performance for the past fiscal year and invited all to recommit to SGV’s Purpose of nurturing leaders and enabling businesses for a better Philippines.

EY ASEAN Regional Managing Partner Nam Soon Liew then delivered his remarks, highlighting EY’s growing practice in the ASEAN region. He encouraged everyone to align their actions towards Vision 2020 by focusing on winning in the market, creating high performing teams, and strengthening global and empowering local markets.


SGV Leadership Team with RMP Nam Soon Liew

At the start of the second part of the program, SGV Chairman and Managing Partner Itos Cruz spoke on the Firm’s achievements for FY19 and the latest developments in the practice. He emphasized the significance of SGV’s legacy and the role that the Firm plays in national sustainable development. He then called on stage the Leadership team who guide SGV’s professionals to remain committed to our Purpose.


SyCip and Special Award Recipients

The second part of the program also recognized the Loyalty, Special and SyCip Awardees for their outstanding service to the Firm. In a special tribute, SGV staff led by the SGV Glee honored retiring partners Arnel de Jesus and Louie Ferrer.


Newly Admitted Advisory Principals


and PartnerNewly Admitted Assurance Partners


Newly Admitted Tax Partners and Principal

The program concluded with the formal presentation of the 12 new SGV partners and principals: Margaux Advincula, Albert Bon, Armando Cajayon Jr., Philip Casanova, Carlo Dimarucut, Thyrza Marbas, Liez Rafal-Roble, Bienvenido Rebullido II, Wanessa Salvador, Maricris See, Karen Sta. Maria-Constantino, and Arlyn Sarmiento-Sy.

The celebrations were punctuated with exciting raffle prizes and entertaining performances from the top three finalists of SGV’s Got Talent Season 8. The staff anniversary program was followed by a thrilling after-party where everybody danced the night away with Hale, Ebe Dancel and DJ Patty Tiu.

SGV holds SME Digital Transformation Event

SGV presented the findings of the EY ASEAN SME Survey titled Redesigning for the Digital Economy last 20 August 2019 at the Washington SyCip Development Center. The seminar’s purpose was to discuss how organizations across ASEAN are addressing the challenge of digital transformation to keep up and compete in today’s disruptive environment. It was attended by various entrepreneurs from local SMEs.

SGV Vice Chairman and Deputy Managing Partner Wilson Tan delivered the welcome remarks for the event. EY ASEAN Managing Partner Nam Soon Liew then discussed the survey findings, which covered SMEs from the six largest ASEAN markets; namely Indonesia, Malaysia, Singapore, Thailand, Vietnam, and the Philippines. The aim of the survey was to crowdsource ASEAN SME organizations and understand their strategic priorities, growth expectations and challenges, approaches to digital transformation and applications of transformative technologies. The survey included insights from almost 370 ASEAN mid-market organizations with annual global revenues of between $20 million and $500 million.

IT Advisory Principal Armand Cajayon also gave a presentation on the challenges of SMEs on digital transformation and how SGV’s newly launched Automation and Innovation Delivery Hub (AIDH) can help these SMEs through their digital transformation journeys. The AIDH aims to become a positive driver for digital transformation by presenting the opportunities that digital disruption brings to businesses and society.

SGV hosts AML-CFT Forum

SGV hosted a forum on Counter Proliferation Financing (CPF) and Machine Learning last 13 August at the SGV Museum in Makati City. Anti-money laundering and counter-financing of terrorism (AML-CFT) professionals and compliance officers from different banks, insurance companies and financial institutions attended the forum.

Financial Services Organization (FSO) Partner Veronica Arce-Balisi (VAB) welcomed participants and shared updates and developments on proliferation financing.

Royal United Services Institute (RUSI) for Financial Crime & Security Studies research fellow Emil Dall introduced proliferation financing, and its regional and country specific factors and risk exposures. He also presented trends, indicators and case studies related to proliferation financing. RUSI Director Tom Keatinge discussed the significance of raising awareness on proliferation financing. He emphasized the importance of the collaboration between public and private sectors that lead CPF initiatives. He also spoke on the incorporation of CPF tools in compliance programs.

Financial Services Risk Management Partner Ian Lauron shared how machine learning and artificial intelligence can be integrated in combating money laundering, terrorist financing and proliferation financing.

The forum was organized by the SGV AML Working Group and FSO Advisory Team led by VAB, together with Directors Meliza Deniega and Aeron Paul Ramos; Senior Associate Erika Teh; and Associates Geraldine Co, Rachel Grace de Castro, Laurene Lou Ramos, Radelaine Czarina Borreta, Matt Joshua Montoya, Charline Gonzales, Mark Dennis Salapare, and Gene Carlo Marquez.

TAS professionals earn FMI certifications

Transactions Advisory Services (TAS) Manager Liming “Tony” Wang, TAS Senior Associate Patricia Aira Lao, and TAS Associates James Mark Monteon, Justin Pucyutan and Eva Cuizon recently passed the global Advanced Financial Modeler (AFM) exam. They now hold an AFM designation as certified by the Financial Modeling Institute (FMI).

As the first of three certification levels offered by the FMI, the AFM exam covers financial model layout and best practices, intermediate-to-advanced Microsoft Excel skills, scenario analysis, accounting fundamentals, and model schedules.

Kudos Tony, Patricia, James, Justin and Eva!

VCD named editor-in-chief of Suits the C-Suite

Tax Principal Vic de Dios (VCD) has been named editor-in-chief of SGV’s weekly Suits the C-Suite column published every Monday in BusinessWorld. VCD succeeds former General Counsel Wilfredo U. Villanueva who was an original member of the editorial team created in 2009.

As the editor-in-chief, VCD will coordinate closely with our Service Line leaders to ensure the continuous flow of articles written by partners and managers that underscore SGV’s thought leadership in the market.

VCD regularly contributes to SGV and EY thought leadership programs and also conducts lectures on tax and customs updates for internal and external groups and professional associations.

Log on to C-Suite to view articles in our Suits the C-Suite column.

Congratulations on your new role, VCD!

FAAS Senior Manager discusses PFRS 9 with ASEFEX at PSECE 2019

SGV Financial Accounting Advisory Services (FAAS) Senior Manager Anna Maria Rubi Diaz spoke on how to apply PFRS 9 (Financial Instruments) in a manufacturing set-up during a breakout session at the 16th Philippine Semiconductor Electronics Convention and Exhibition (PSECE) held last 30 May 2019 at the SMX Convention Center, Pasay City. The event was organized by the Semiconductor and Electronics Industries in the Philippines, Inc. (SEIPI). The objectives of the PSECE, which is held annually, include enhancing the technical capabilities of electronics and semiconductor companies in the Philippines by providing a venue for meetings and discussions on matters relevant to the industry, and industry-focused product and service exhibits, with local and international participation.

Rhia’s breakout session featured a refresher course on PFRS 9 changes focusing on Classification and Measurement (C&M) and Expected Credit Loss (ECL), related business considerations and the challenges of adopting the new standard specific to the manufacturing industry. The main participants of the session were members of the Association of SEIPI Finance Executives (ASEFEX).

After the session, Rhia was presented with a certificate of appreciation by William Garcia, ASEFEX Chairman, and Felix Halili, ASEFEX Vice Chairman.

SGV tabulates Binibining Pilipinas 2019 pageant

SGV was the official tabulator for the 56th Binibining Pilipinas pageant held last 9 June 2019 at the Smart Araneta Coliseum, Quezon City. The team was led by SGV Financial Accounting Advisory Services (FAAS) Leader Aris C. Malantic, FAAS Partner Benjamin N. Villacorte and Managers Faye de Sosa and Arra Luciano.

Legacy Night honors retiring partners and former CMP

Current and alumni SGV partners celebrated the Firm’s second Legacy Night last 26 June at the Grand Hyatt Hotel, Bonifacio Global City. The evening commemorated SGV’s rich legacy of excellence, integrity and stewardship.

SGV Chairman and Managing Partner Itos Cruz delivered the welcome remarks emphasizing the significance of SGV’s legacy. He commended SGV Tax Head Luis P. Ferrer (LPF) and SGV Talent Hub Group Leader Arnel F. de Jesus (AFJ) for their invaluable contributions towards the Firm’s growth. He then expressed his gratitude to the alumni partners for serving as stewards and mentors of the Firm and its people. He also thanked the active partners for their commitment to SGV’s Purpose.

The partners paid tribute to former Chairman and Managing Partner David L. Balangue (DLB) who passed away last April. With his wife and children in attendance, DLB was recognized as an outstanding professional who inspired many with his work ethic, passion and intelligence.

Alumni Partners Boots Garcia and Willie Sanchez shared inspirational messages on SGV’s legacy and also shared meaningful advice to this year’s retirees. The program concluded with a presentation of tokens to AFJ and LPF in honor of their exceptional work, loyalty and dedication throughout their many years of service to the Firm.

SGV’s Assurance Service line is ISO Certified again!

SGV’s Assurance Service line is officially ISO 9001:2015 certified! Our Assurance Service line has been ISO certified since 1996.

The SGS Audit Team concluded that our Firm has established and maintained its Quality Management Systems (QMS) in line with the requirements of the ISO 9001:2015 standard, and demonstrated the ability of the QMS to systematically achieve agreed upon requirements for products or services within the scope of the Firm’s policies and objectives.

Congratulations to the ISO Team led by Assurance Partner Ysmael S. Acosta and composed of Team Review (TR) Head for Audit Services Toni Losabio, Risk-IT Senior Manager Jennifer Sy, TR Head for Business Support Services Daniel Mojica, Assistant Director Ana Ruvi Fruelda, Internal Quality (IQA) Head for Audit Services and Assurance Partner Margem A. Tagalog, Manager Charles Castro, IQA Head for Business Support Services Duane Sabado; and Managers Aubrey Anonuevo, Claire Pogeyed, Rafa de Leon, Dexter Madamba, Aidell Gregorio, Loubelle Mendoza, Grail Ragos and Van Acla.