REMARKS FOR 2025 KAMUSTAHAN SESSION
THEME: GROUNDED IN PURPOSE: THE ROLE OF VALUES IN CAREER GROWTH
MBM ROMEO BERNARDO: “CARER ADVICE I WOULD HAVE GIVEN MY YOUNGER SELF”
NOVEMBER 27,2025 1:30-5:00PM
BSP 18/F AUDITORIUM MSB MALATE MANILA
Opening
• Warm greeting: “Good afternoon everyone. I stand before you today not as a Monetary Board Member, but as someone who has made a lot of mistakes, had a few lucky breaks, and somehow ended up here. So let me share the career advice I wish I could whisper to my younger self — and maybe it will resonate with you too.”
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The Role of Luck
• “The role of luck is often under‑appreciated. Genes, family circumstances, — these are strokes of fortune, be grateful as i am if you have been blessed by fortune. In my case, having loving parents w solid middle class values, who put a premium to a good education. I am sure many here share similar circumstances. But even if not, don’t despair , luck does not define destiny.
I can cite several examples of men and women who are truly self made— Henry Sy Sr., John Gokongwei , Nanay Socorro Ramos et al in the field of business. By the same token, i can cite scions of the big business families when i was a boy, whose children have not been able to even preserve their families’ businesses. Or in other fields, Manny Pacquiao, Nora Aunor come to mind.
But who can really say what is good luck and what is bad luck?
Years ago, I heard a great parable that illustrates well.
• A farmer finds a wild horse in his field. He’s able to lead the horse home and puts him in his stable.
• The neighbors upon hearing about the horse, congratulate him on his good luck.
• The farmer simply replies, “Good luck or bad luck, who knows?”
• The next day his son, while trying to train the horse, ends up being thrown, and breaks his leg.
• The neighbors upon hearing about the son, console the farmer on his bad luck.
• The farmer simply replies, “Good luck or bad luck, who knows?”
• The next day while the son is in the hospital, the representative from the emperor comes into town to draft conscripts for the army to fight on the border. His son is released from his obligation because of his broken leg.
• The neighbors upon hearing about his son missing the draft, congratulate him on his good luck.
• The farmer simply replies, “Good luck or bad luck, who knows?”
• After a week, the son comes home to finish recovering. While at the hospital he met a nurse and fell in love, and decided to get engaged.
• The neighbors upon hearing about the engagement, congratulate him on his good luck.
• The farmer simply replies, “Well, when it comes to marriage…good luck or bad luck, who knows?”
• Events and circumstances of life are neutral. It’s up to you to decide if you have bad, or good luck
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Decisions Shape Life
• “After luck, the rest of life. is decisions. The two biggest: who you marry ( or if you marry at all), and what you study.”
In my own case, i have decided wisely on both counts.
I met my wife opposite the championship debating floor in UP Open Debate. She completely demolished me, won the debate …but i won her heart. I was attracted to her not only because she is pretty— our daughter is in the audience and she is a truly lucky girl, she looks like her mom! Her mom is also smart, which Mini inherited too, i would like to think from both her parents.
• Let me ask you here for the married ones. Pls raise your hand if you married someone smarter than you. “Congratulations, you’ve hedged your risk.”
My studying economics in school was a combination of choice and luck. When i was in H.S. I wanted to be an artist. My lawyer father said a bad idea— “you will starve”, and instructed me to take up law and follow his footsteps in UP Law. I was an obedient son and enrolled in Business Economics as a pre-law course. Then martial law was declared. Both my ex GF ( now wife ) , decided to disobey our parents and not to follow our fathers’ paths, ask why take up law when the rule of law was suspended, and stayed in Economics, and got married instead. I have never regretted that decision.
( Later in life after taking early retirement at 40, i took art lessons. I now know my father knew best. I didnt have artistic talent and would have indeed starved! )
Which is a good segue to an important lesson. A standard career inspiration advice is “follow your bliss”. What they don’t stress enough is know yourself. Your talents and limitations.
Lifelong Learning
After you’ve decided what you want to be professionally, commit to it. Not just in school, but throughout life. Learning is lifelong! This is true not just with work, but the other aspects of life.
My advice to my children when they were growing up was to Read Read Read. I gave them unlimited budget on books— yes including graphic novels which our youngest son “gamed” me to ok. He now works as a commercial artist.
Read anything and everything. I read a lot of novels and history as a youth. And learned much about life and human behavior.
These days, i think young people learn more through teleseryes . Thats ok too. I remember that The Economist reviewed “Breaking Bad” said it was the equivalent an MBA degree. I agree. So Netflix is now professional development. Just don’t put it in your CV.
More seriously, i envy the young at their/your access to knowledge at your finger tips via the internet. During my time we had to endure bad teachers who mumble to themselves or who speak to the blackboard . Now you have access to the best Professors in the best universities! Take advantage of these.
Values/ Character
I earlier said that Luck does not define destiny. You know what does?
Character. And character is not what you are born with, its something we all have to strive and work on all our lives.
1.) Kindness, pakiipagkapwa, malasakit
Altruism, i think, is hard wired , golden rule is universal . Whether you think its because of faith or because of natural and social evolution as i do. It is what makes us humans, and how mankind thrived . As a specie we were not the strongest or the fastest. But we early on learned to work together as a community. first to hunt, to protect the physically weak among us ( children and women ) , to build simple huts, later irrigation, roads, networks. Helping one another.
Acts of kindnesses is not only good for the community or the specie. It is also good for the giver of kindness. It is reciprocated over the long term. And even when it is not, the giver feels good . We all know that feeling.
( Maybe, not all, there is aberrant behavior we read about, but they will have their just rewards. If not here in the next life. Hell if one is a Christian, or if anyone here is Buddhist and believe in reincarnation — may they all be re born as the cockroaches that they are in their next life! ) .
We here at the BSP are one community— let us all find the spirit to work together as one esp this season of giving .
2. Integrity
This brings me to the second pillar of key values— integrity. The quality of being honest and having strong moral principles. It has many dimensions. Walking the talk. Never lying. Fulfilling your commitments. Respecting other people’s rights and property, including intellectual property. Giving credit not only for published work, but to your colleagues’ ideas.
3. Commitment/ Strive for excellence
We Pinoys are often mahilig sa “puede na”, almost setting up mediocrity as a standard. So different from the almost obsessive commitment to excellence we observe say w Japanese, or Koreans. I confess that i myself been guilty of that and even at my age, have to resist this proclivity.
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How is character formed? It starts from the school. Then at work.
• “Find mentors. If your parents or teachers weren’t great, look for role models. At work, your mentor doesn’t have to be your boss. Sometimes it’s the colleague who quietly gets things done.
In my own case, i was lucky to be born to parents who were exemplary. The downside is that sometimes, i would think of them and feel bad that i have fallen short.
In early schooling i was lucky to have teachers in Catholic schools who cared , and professors in UP who taught us critical thinking.
I was also lucky to have worked under people who were true inspirations.
After a brief stint at teaching Finance in UP College of Business Administration, i worked in the Staff of then Finance Secretary Cesar Virata.
I would only repeat here what i said when MBM Lea and i hosted his 94th bday last year.
“Happy birthday to a man who was an important reason why many of us joined the DoF in the last millennium. Who served as a mentor and model for us throughout our careers and lives. From his example, we learned what it means to be a public servant, a good citizen, and a human being of integrity, kindness, and humility— and of true love of country.”
And after i took early retirement from government service in 1996, after 20 years , ending as Undersecretary, my mentor in the private sector was Former Energy Secretary Delfin Lazaro, who put back the lights in the country both literally and metaphorically during the Ramos administration. Together w Atty Helen Tiu, we formed a financial advisory group: Lazaro Bernardo Tiu, where i learned many of the simple success tips i will share w you below. I also learned from the leaders of the companies i was privileged to have served as Board Director for two decades, before returning full circle to my first love , public service.
1. Be there : presence is 80 pc of the game and..
2. Be on time : it tells the other people you value their time
3. Look for win wins— most transactions are not zero sum
4. Don’t make enemies— unless really necessary
5. Disagree when you need to— but don’t be disagreeable
6. Choose your battles
7. Hire people smarter than you ( if you’re the smartest person in the room, you’re the wrong place ).
8. Share credit freely with your colleagues. Don’t fret about who gets the credit. Cream rises to the top.
9. Be generous w praise and smiles. Will allow you to be hard line when you need to be.
10. Under promise but overdeliver. Manage expectations
11. Never lie or bullshit. If you don’t know the answer, say i will find out and revert.
12. Have a career plan, but be agile and flexible. The dots will connect
13. Don’t be afraid of being a “devils advocate”, a position that originated w the Catholic Church
14. When embarking on a project or an investment do risk management , look esp at the possibility of failures. And weigh if worth the upsides.
15. Have an exit strategy… for everything.
16. Be humble. Be especially nice to people less fortunate than you. And remember, the people you meet on your way up, will be the same people you will meet on your way down.
And finally, my last advice learned perhaps the hard way. Work life balance.
( Some personal reflections… )
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