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Chuchi G. Fonacier was appointed in July 2017 as Deputy Governor of the Financial Supervision Sector (FSS), which is mainly responsible for the regulation of banks and other BSP-supervised financial institutions, with the objective ensuring the safety and soundness of the country’s financial system.
The FSS, which she heads, is tasked principally to create a regulatory environment that allows the Philippine banking system to thrive for the purpose of promoting economic development, and public trust and confidence in the system. The FSS also provides adequate incentives for these institutions to engage in activities that would allow Filipinos to have access to financial products and services.

As Deputy Governor, she is also a member and the BSP-designated representative in different interagency and international committees such as the Financial Sector Forum (FSF), Working Group on Banking Supervision (WGBS) of the Executives’ Meeting of East Asia Pacific Central Banks (EMEAP), Credit Information Corporations Project, and Agricultural Credit Policy Council (ACPC).

Ms. Fonacier took up her Bachelor of Science in Commerce major in Accounting degree at University of St. La Salle – Bacolod and obtained her Master in Business Administration (MBA) at the Ateneo de Manila University.