The Board of Directors of SBS Philippines Corporation appointed Mr. Emerson Paulino as the Company's Chief Audit Executive and Chief Risk Officer. The resignation/cessation is due to promotion of Mr. Paulino. The company announced resignation/cessation of Esmeraldo Tepace from the position of chief risk officer, effective August 10, 2021; election/appointment of Emerson P. Paulino as chief risk officer and Emerson P. Paulino as chief audit executive, effective August 10, 2021. Emerson P. Paulino joined the Company in 2016 as the Internal Auditor. He pioneered the formation of the Internal Audit Department - establishing the Internal Audit plan, program and risk profile for audit. In the last two years (2020 to 2021), Mr. Paulino attended seminars from Institute of Internal Auditors Philippines (IIA-P) on IT Audit, COSO implementation and Audit in Corporate Governance.