Photo taken from Ralph Recto (FB Page)

In a resounding announcement, President Marcos has officially appointed House Deputy Speaker Ralph Recto as the new Secretary of the Department of Finance (DOF), succeeding Benjamin Diokno. The decision, a culmination of months of speculation, was confirmed by Communications Secretary Cheloy Garafil in a text message on Thursday evening.

Recto, an eminent figure in economic policy, is no stranger to the complexities of finance, having previously served as the director-general of the National Economic Development Authority (NEDA) in 2008 during the presidency of Gloria Macapagal Arroyo. The official oath-taking ceremony is scheduled to take place in Malacañan on Friday, January 12.

The appointment adds another chapter to Recto’s storied career, marked by his contributions to crucial economic legislation. As a former senator, he played a pivotal role in crafting and sponsoring significant laws, including the Rice Tariffication Act and the Salary Standardization Law.

Ralph Recto, an alumnus of De La Salle University, holds a bachelor’s degree in commerce. His academic journey also includes a certificate in business economics from the University of Asia and the Pacific, coupled with completed units in the University of the Philippines (UP)’s public administration program.

Confirming her husband’s appointment, actress and former Batangas Governor Vilma Santos-Recto expressed pride in Recto’s commitment to public service and his unwavering dedication to economic development. The news has already ignited conversations about the potential impact of Recto’s leadership on the nation’s fiscal policies.

In a simultaneous development, Frederick Go is set to take his oath as Special Assistant to the President for Investment and Economic Affairs, marking another strategic move in Marcos’ administration to fortify economic planning and execution.

Photo taken from Ralph Recto (FB Page)

Ten Key Points on How to Become a Successful Finance Chief:

Academic Excellence: A solid educational background, like Recto’s, lays the foundation for a successful career in finance. Acquiring degrees in relevant fields such as commerce and business economics enhances one’s understanding of economic intricacies.

Public Service Commitment: Recto’s dedication to public service has been a hallmark of his career. A commitment to the welfare of the nation and its citizens is essential for anyone aspiring to lead in the financial sector.

Legislative Involvement: Involvement in crafting and sponsoring crucial economic legislation, as demonstrated by Recto, showcases the ability to navigate the complexities of policy-making.

Specialization in Economic Laws: A deep understanding of economic laws, demonstrated through Recto’s contributions to the Rice Tariffication Act and the Salary Standardization Law, distinguishes a finance chief as a policy expert.

Photo taken from Ralph Recto (FB Page)

Leadership Skills: The ability to lead and inspire teams is indispensable. Finance chiefs must exhibit strong leadership skills to navigate the challenges of steering a nation’s economic course.

Continued Learning: Recto’s pursuit of further education, as seen in his certificate in business economics, reflects the importance of continuous learning in staying abreast of evolving economic landscapes.

Political Savvy: Given the intersection of finance and politics, a finance chief must be politically astute, adept at navigating the complexities of governmental structures, and working collaboratively with political stakeholders.

Networking: Building and maintaining a strong network in the financial and political spheres enhances a finance chief’s ability to gather insights, collaborate effectively, and stay informed about industry trends.

Communication Skills: Articulate communication is key in translating complex financial matters to diverse audiences, including policymakers, the public, and other stakeholders.

Ethical Integrity: Upholding ethical standards is non-negotiable. Finance chiefs must demonstrate unwavering integrity to build trust in their decision-making and financial management.