Finance Secretary Cesar Purisima has reorganized his department into four major groups to streamline its functions and improve accountability among its attached agencies.
In a statement, Purisima, the country’s top economic manager, said the Department of Finance (DOF) formalized its four-cluster structure that grouped its officials and line agencies based on their main functions.
“By formalizing the cluster system which we have been using for the past three years, we will enhance both accountability and transfer of expertise vertically throughout the DOF and its attached agencies,” he said.
Purisima, a former chair and managing partner of the country’s top accountancy firm SGV & Co., said he was keen on reflecting in his department the management techniques of the private sector.
He pointed out that the main function of the cluster system was to ensure the visibility of all DOF activities throughout the department and its attached agencies to enhance transparency in its operations and reporting.
The four clusters of the department will each be overseen by a designated head who will assume the role of primary coordinator for all operations and policy engagements under their corresponding clusters.
Internal Revenue Commissioner Kim Jacinto-Henares heads the Revenue Cluster, which covers the major revenue-collecting agencies of the DOF, including the Bureau of Internal Revenue and the Bureau of Customs. Offices that support government revenue collection, such as the Bureau of Local Government Finance and National Tax Research Center will also fall under this cluster.
National Treasurer Rosalia de Leon leads the Liability Management and Capital Markets Development Cluster, which coordinates the government’s debt management activities.
The development of capital markets through the Insurance Commission, Securities and Exchange Commission and Philippine Deposit Insurance Commission are also the responsibility of this cluster.
Finance Undersecretary John Philip Sevilla heads the government’s engagement in privatization functions, Public-Private Partnerships (PPPs) and government-owned and controlled corporations (GOCCs) issues and affairs.
Assistant Secretary and Chief of Staff to the Secretary Ma. Lourdes Recente will cover the DOF’s internal administration affairs, such as human resource and personnel development programs.