AARNE DIMANLIG, Ph.D.
Multilateral Finance Executive | Corporate Governance & Risk Management Leader
Experience
🏛️ CGIF, a trust fund of the Asian Development Bank, is a corporate bond guarantor owned by the ADB, China, Japan, Korea, and the ASEAN; a project of the Asian Bond Market Initiative (ABMI).
Chief Credit Risk Officer 2026–present
Acting Chief Risk Officer 2025–2026
Chief Credit Risk Officer 2019–2025
Chief Risk Officer (founding executive) 2011–2019
Member, Executive Committee. Chair, Guarantee and Investment Committee. Executive responsibility for enterprise risk management. Supervises CGIF’s risk management department / credit risk group. Oversight on all risk dimensions — credit risk, capital adequacy risk, market risk, operational risk. Reviewed over USD 5.0 billion credit proposals. Oversees credit review of bond issuers, portfolio monitoring, and rating agency relationships.
BANK OF THE PHILIPPINE ISLANDS
Vice President 2006–2011
Head, Market Risk Management Unit & Credit Systems Validation Unit, Risk Management Office
Developed and maintained market risk, liquidity risk, IRRBB models. Supervised market risk management and credit systems validation. Member of Capital Management Committee & ICAAP team. Validated corporate credit risk rating and modeling system. Reported to CRO and Board Risk Committee.
BPI CAPITAL CORPORATION
Assistant Vice President, Corporate Finance 1995–2006
Investment banking: financial advisory, debt/equity syndication, structured finance, M&A, project finance, new product development.
COLUMBIA UNIVERSITY, GRADUATE SCHOOL OF BUSINESS
Visiting Assistant Professor of Finance 1994–1995
INTERNATIONAL MONETARY FUND, WASHINGTON, D.C.
Consultant, World Economics Studies Division, Research Dept 1993–1994
UNIVERSITY OF CALIFORNIA, SANTA BARBARA
Lecturer of Economics, Teaching & Research Assistant 1987–1993
CENTER FOR RESEARCH & COMMUNICATION / UNIVERSITY OF ASIA & THE PACIFIC
Macroeconomist and Lecturer of Economics 1980–1987
MATHEMATICS DEPARTMENT, UNIVERSITY OF THE PHILIPPINES
Lecturer of Mathematics 1978–1980
Academia & Consultancies
1998–2011: Seminars, Workshops & Advisory Roles
Organized conferences sponsored by PECC, ISEAS, ADB-ADBI, World Economic Forum, Japan MoF, OECD. Lectured at DLSU (MS Computational Finance), University of Asia and the Pacific (Financial Derivatives), BPI Financial Advisory Training Program. Extensive engagement on capital markets development and corporate governance reforms in Asia.
Education & Executive Training
- University of California, Santa Barbara – Ph.D., Economics (Finance Concentration), 1995 · UC Regents Fellow
- Center for Research and Communication – M.S., Industrial Economics, 1983 · Asia Foundation Scholar
- University of the Philippines – B.S., Mathematics, 1977
- Institute of Corporate Directors – Professional Directors Program, 2023
- Harvard Business School – BPI Leadership Excellence Acceleration Program (LEAP), 2010
- National Computer Institute (Manila) – Certificates, 1979
- Advanced seminars: credit risk, market risk, operational risk, ESG, project finance, securitization, ICAAP, stress-testing.
Selected Writings & Research
Consultancy & Institutional Reports
Research Assistantships (IMF & UCSB)
International Monetary Fund: Coe, D.T. & Helpman, E. (1994) “International R&D Spillovers,” IMF Staff Papers / European Economic Review.
Feldman, R.A. (1995) “Measures of External Competitiveness for Germany,” IMF Staff Papers.
UC Santa Barbara: LeRoy, S.F. (1989) “Efficient Capital Markets and Martingales,” JEL.
Sengupta, J.K. (1991) “Rapid Growth in NICs in Asia,” Kyklos 44(4), 561-579.
Academic Publications & Working Papers
Doctoral Dissertation (UCSB): “Essays on Financial Economics,” 1995.
• “Asset Valuation in a Small Open Economy,” 1994.
• “Asset Valuation in a Stochastic Neoclassical Model with Depreciation & Adjustment Costs,” 1993.
• “Modeling Stock Returns as a Weibull Distribution and the Failure Rate of Stock Returns,” 1992.
• “Towards a Theory for Limit Orders and Market Orders,” 1991.
Center for Research & Communication (UA&P):
Dimanlig, A.B., Trinidad, F., Andal, S. “The Economy Recovers (But Don't Uncross Your Fingers Yet!)” in The Economic Recovery: Fact or Fancy?, July 1987.
Dimanlig, A.B. “Real Interest Rates Are Attractively High; So, How Come Savers Aren't Biting?” Recent Economic Indicators, Oct 1986.
“The Philippine Appliance Manufacturing Industry,” 1982, master’s thesis.
🎯 Core competencies · Corporate Governance · Corporate/Project Finance · Financial/Asset Valuation · Credit/Market/Capital/Liquidity Risk · Industrial & Macroeconomics · Quantitative Analytics (Econometrics/Statistics)
⚡ Open to independent directorships & senior executive roles post-retirement (Sept 2026)