The Cooperative Development Authority (CDA) hosted a Seminar on Asset Recovery aimed at equipping its technical personnel with the essential knowledge and skills to enhance the Agency’s asset management practices.
OIC Chairperson Asec. Myrla B. Paradillo opened the session by expressing her gratitude to the Land Bank of the Philippines (LBP) Asset Recovery Group (ARG), headed by Senior Vice President Emellie V. Tamayo, for their swift and cooperative response to CDA’s request. She emphasized the importance of the seminar in advancing CDA’s asset recovery program, particularly in the context of cooperative development.
DA Ray Elevazo provided the rationale for the seminar and gave an overview of CDA’s loan program, which laid the foundation for understanding the significance of the asset recovery efforts being discussed.
Chief Melissa Santos of CPDAD presented a brief historical background on CDA’s asset recovery initiatives and provided an update on the current status of loans of cooperatives managed by the Authority. This set the stage for deeper discussions and understanding of CDA’s asset recovery needs.
An engaging exercise, facilitated by Mr. Tomas Rosales III from the LBP-ARG, helped reveal the expectations of participants, encouraging them to reflect on the seminar’s practical applications.
SVP Tamayo delivered a comprehensive presentation on asset recovery, its requirements and strategies. She highlighted several key strategies and shared practical, remedial approaches that could be adopted by CDA for its asset recovery efforts. These strategies included:
- Problem Recognition and Assessment: This involved studying accounts and conducting portfolio reviews to identify issues.
- Workout on Strategies: The discussion paved the way to exploring various approaches such as loan restructuring, compromise settlements, and assumption of mortgages to resolve asset recovery challenges, which shall be consulted with applicable laws on non-financial government entities.
- Liquidation Strategies: SVP Emellie Tamayo also discussed liquidation strategies, including the sale of mortgaged assets, foreclosure, and identifying additional assets in cases where the existing collateral was insufficient.
The seminar was a significant step in empowering CDA’s technical personnel to manage asset recovery more effectively. By providing both theoretical knowledge and practical solutions, the seminar ensured that participants were equipped with the tools and strategies needed to tackle challenges in asset recovery.
CDA officials concluded the session with a renewed commitment to continuous learning and development, stressing the importance of these initiatives in strengthening the agency’s asset management and cleansing programs.
The seminar was organized by the CPDAD (Cooperative Project Development and Assistance Division). Participants include technical personnel from different units/offices of the CDA who will be directly involved in the asset recovery program of CDA such as the Legal Division, Finance Division, Supervision and Examination Division, Administrative Division, and the CDA Regional Extension Offices. – Elvira Pasagui
