Felipe S. Yalong: Leadership beyond numbers

MANILA, Philippines - For someone who never dreamed of becoming a top financial executive, GMA Network Executive Vice President and Chief Financial Officer Felipe Santos Yalong has definitely achieved a lot in his career. His climb up the corporate ladder is a badge he wears proudly.

Although his career has already been characterized by a number of accomplishments and achievements, 2013 proved to be Yalong’s best year when he was named ING-FINEX CFO of the Year. “This recognition is the highlight of my career. This is something I will remember long after I retire from the industry,” says Yalong.

Yalong was chosen to be the recipient of the prestigious award after a Search and Selection Committee assessed him and other finalists based on four criteria: Performance in terms of good governance, compliance and corporate social responsibility; reputation and stature as a CFO; contribution to the fulfilment of the strategic objectives of his organization; and excellence in the stewardship of his organization.

“I am very happy about this recognition. This is like the Oscars of our profession. It’s more meaningful because this is an award given to you by your peers,” says Yalong.

FINEX is the premier professional organization for finance and financial services executive and decision makers in Philippine business, government, academe, and professional services.

Yalong’s significant contributions in the network’s phenomenal rise in revenues and its Initial Public Offering (IPO) in July 2007 were considered to be the highlights of his career with GMA Network, which started in 2000.

Prior to joining GMA Network, Yalong also helped steer the financial wheel of ABS-CBN. He describes his decision to join GMA Network as the biggest challenge of his professional career as he acknowledges it was behind its biggest rival.

“But it has, as evidenced by my presence here today, yielded positive results both for myself and I would like to believe, through my modest contributions, for the Network as well,” said Yalong in his CFO of the Year acceptance speech.

According to Yalong, he saw the need to bring GMA Network to a level that was more competitive.

As someone who used to be on the other side of the fence,  he’s seen the advantages and the resources that GMA needs to build up to safely say that they’re in for a good fight.

“We really built the organization to make sure that when we enter the competition with them, we’re ready. I’ve seen the growth of GMA from 400 to now 2,001 regular employees, excluding the talents.”

Yalong started his career with SyCip, Gorres, and Velayo Co. (SGV) as an auditor immediately after he passed the Certified Public Accountant (CPA) licensure exam in 1977.

While still reviewing for the board exam, he was one of only few examinees that were recruited by SGV. On his first year with the country’s premier auditing firm, Yalong was already taking on bigger responsibilities such as meeting with clients.

He took this as an opportunity to learn and acquire new skills. Yalong then moved to different companies where he held various positions.

Recalling the early days, Yalong shares that he originally enrolled in Engineering in Mapua but shifted to Business Administration, Major in Accounting in the Philippine School of Business Administration (PSBA). He also took up Management Development Program from the Asian Institute of Management.

He’s always been passionate about numbers. But beyond the numbers, Yalong is known for his integrity and people skills. “Honesty is my core value. I make sure that I'm very honest with the way I deal with people, with suppliers. Honesty took me a long way—from where I started all the way up,” he says.

“People can also approach me and talk to me anytime. I have an open door policy. Anybody can come and see me.”

Although he’s used to being recognized, nothing beats an old colleague thanking him for his influence in his or her career.

“I think I have touched a lot of lives in my different companies. If I have the opportunity to help people, I try to help in my own little way.”

Yalong also performs a number of roles for GMA Holdings Inc., Scenarios Inc., GMA Network Films Inc., Unicapital Inc., Majalco Finance and Investments Inc., GMA Marketing and Productions Inc., RGMA Network Inc., Mediamerge Corp., GMA New Media Inc., RGMA Marketing and Productions Inc., and GMA Kapuso Foundation Inc.

Now on his 14th year with GMA Network, Yalong declares, “I am happy with GMA, it’s a good company. It shares my values. Going to the office is something I look forward to. I know that I’ll be able to contribute something. I’d like to think this would be my last company. It’s part of God’s plan that I end my career in GMA.”