Amando M Tetangco, Jr: Security management – a challenging balancing act Speech by Mr Amando M Tetangco, Jr, Governor of the Central Bank of the Philippines (Bangko Sentral ng Pilipinas), at the Bank Security Management Association, Inc. (BSMA) Induction, Central Bank of the Philippines, Manila, 16 January 2009. * * * The officers and directors of the Bank Security Management Association, Inc. (BSMA) led by President Edwin Ermita, special guests, fellow central bankers, good morning. I am very pleased to meet the leadership of the Bank Security Management Association and engage you in a dialogue. You and the members BSMA are responsible for providing the highest level of protection to Philippine banking institutions in general and to bank employees and clients in particular. For the Bangko Sentral ng Pilipinas therefore, you represent a vital component of our continuing efforts to ensure the health and stability of our banking system. Through the years, securing a bank has evolved from the traditional watchdog concept to the use of state-of-the-art security devices and gadgets. Given the rising violence we have seen in recent bank robberies, you have to ensure that you develop in parallel with your operating environment. Your additional challenge is to provide effective security to bank properties and most especially to the people within your premises while making sure that customers do not feel intimated or threatened by security personnel. You and I know that bank clients are civilians who are not used to armed personnel. Therefore, they may complain or, worse, move their account if they feel that your security men are somewhat threatening. I know it is easier said than done but your objective should be for security personnel to remain courteous while being visible, firm, and alert as security personnel. Director Ed Gatumbato, the head of Bangko Sentral’s security department, is constantly challenged by this balancing act. I am sure you will have a lot to talk about. Last year, September 3 to be exact, I signed Bangko Sentral ng Pilipinas (BSP) Circular 620, the revised rules and regulations on bank protection pursuant to Monetary Board Resolution No. 1057 dated August 14, 2008. The objective of this circular is to strengthen and broaden the security of banks to cover not only physical security but also on other crimes perpetrated against the banking institutions such as external and internal frauds, cash in transit operations as well as the conduct of investigation of such cases. This means that the concept of bank security management now goes beyond guard force deployment and monitoring. Broader authority and responsibility for security management personnel clearly requires reorientation and training of both officers and staff of your departments. For at the end of the day, even with the most expensive security gadgets, it is the training of your personnel, their ability to discern potential danger or fraud, and skills honed through constant practice that will spell the difference between success and failure for your security management. Now is the best time therefore for BSMA to take the lead in this direction by keeping your association united and constantly engaged in dialogues to keep up to date with the industry best practices. And so, once again, I congratulate the BSMA and its leadership for having a proactive stance in dealing with bank security management. I wish you all the success in keeping the banking community and its clients safe and secure. Mabuhay ang BSMA! Salamat sa inyong lahat.