From: LUCRESIA P.

LLANA
BCRM-Clh Ramon

Date: November 19, 2020

Subject: Explanation Letter Re: Show Cause Memo dated 11/18/2020

To: JEREMIAS P. ULANDAY

Area Head, A203

Sir:

I was required to submit a written explanation on the offense stemmed from the alleged
failure to follow or implement company directive, policies, rules and regulations not
falling under the offense of insubordination.

A perusal of the records attached to the Show Cause Memo dated 11/18/2020, the
alleged offense was anchored from the non compliance on application of twenty (20%)
percent reduction of acceptance rate in principal at the time when Ms. Marie Antonette
Cajugao pawned jewelry items on August 19, 2019 and the non monitoring and
reporting of dumpers as a result of the successive pawned transactions of the said
clients.

With all due respect, aside from the previously noted cash shortage of Php899,999.02, I
found nothing unusual regarding the pawned items at the time when I conducted a
spot checking on May 8, 2020 and June 4, 2020 at Clh Del Rosario. The rematado items
were already packed by the Branch Personnel at that time. Thus, I just checked the
Stock Out Receipt (SOR) dated March 16, 2020 in observance of a common practice of
not opening the packed rematado items for its preservation.

Contrary to the factual allegations in the Show Cause Memo, the ghost pawned items
were discovered because of a consistent and extensive spot checking conducted on the
following month of July 21, 2020, in addition to the admission of the BCRM, Dominador
Ferrer. According to the admission of Mr. Ferrer, I cannot in any manner discover the
alleged ghost pawned items at the time when I conducted the spot checking on May 8,
2020 and June 4, 2020 in view of the fact that the packed rematado items for the month
of August were taken out by him to attached in the prenda card as a replacement of
the items to be checked at that time.

From the above disquisitions, I respectfully moved that the alleged offenses covered by
the Revised Employee Code of Conduct and Discipline be dismissed for lack of merit.

Thank you and Stay Safe.

Sincerely yours,

ANGELITA M. ALIPIO
ATO-Area 202

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