Chuchi G. Fonacier is the Deputy Governor of the Financial Supervision Sector (FSS), which is mainly responsible for the regulation of banks and other BSP-Supervised Financial Institutions (BSFIs). Under her direct supervision are five subsectors which handle onsite examination and offsite surveillance (or integrated supervision) of BSFIs including specialized supervision of specific areas (i.e., anti-money laundering, trust, financial market operations and information technology), oversight of payment systems, policy studies/research, and supervisory data management.
Deputy Governor Fonacier joined the BSP in 1984 as a bank examiner and worked her way to become assistant governor in 2017. One of the highlights of her career as a central banker is her designation as the BSP's point person of two important legislative measures passed by Congress – the Securitization Act and the Special Purpose Vehicle Act.
Under her leadership, initiatives were implemented aimed at leveraging on technology in finance and the use of artificial intelligence which are instrumental for BSP’s Artificial Intelligence Initiative of the Year and Data Management Initiative of the Year awards, both given during the Central Banking Fintech & Regtech Global Awards 2019 held in Singapore.
Deputy Governor Fonacier is currently the Chair of the Executives’ Meeting of East Asia Pacific Central Banks Working Group on Banking Supervision (EMEAP WGBS). She is also a member and the BSP-designated representative in different interagency committees.
Deputy Governor Fonacier took up her Bachelor of Science in Commerce major in Accounting degree at University of St. La Salle - Bacolod. She is a Certified Public Accountant (CPA) and a holder of a Career Service Executive Eligibility (CSEE). She obtained her Master in Business Administration (MBA) at the Ateneo de Manila University.