Section 23Sec./Art. 23

Duties and Qualifications of the President and Chief Executive Officer. - The PCEO shall direct and supervise the operations and internal administration of the MIC, and shall be charged with the risk management, financial performance, human resources, accounting and legal affairs of the MIC. He shall have the following powers and duties:

(a) repare the agenda for the meetings of the Board of Directors and to submit for the consideration of the Board of Directors the policies and measures which are necessary to carry out the purposes and provisions of this Act;

(b) Execute and administer the policies and measures approved by the Board of Directors;

(c) Develop the MIC's business prospects by studying economic trends and revenue opportunities; projects acquisition and expansion prospects; and oversee financial performance and risk profiles while ensuring that all of regulatory obligations are met; and

(d) Exercise such other powers as may be vested by the Board of Directors.

The PCEO, in the discharge of its functions, may delegate administrative responsibilities to other officers of the MIC.

The PCEO shall work closely with the executive management and the Board and must have (a) exceptional experience and expertise in corporate management, financial planning strategy, strategic planning and vision, market and business development, budget development; (b) has at least ten (10) years management experience, including extensive commercial lending/credit administration experience; (c) in-depth understanding of the industry, including risk management, compliance, and regulatory requirements; and (d) strategic knowledge of cash flow and capital planning management.

The PCEO shall be appointed by the President of the Philippines, as recommended by the Advisory Body, for a term of three (3) years.