A career marked by resilience, ambition, and determination is often characteristic of Overseas Filipino Workers (OFWs). Serving as the Assistant Vice President (AVP) of the VIG Team at Vistaland, Ronald Mallari embodies these traits. His professional journey is rooted in a profound understanding of financial management and a strong commitment to guiding fellow OFWs toward financial stability and success.
“My journey working in Dubai began back in 2008,” Ronald recalls, describing his entry into the UAE job market during a particularly turbulent period. His initial role was with Philippine National Bank (PNB) as an Investment Specialist, an experience that honed his financial acumen and prepared him for greater challenges. He later moved to RAK Bank, where he spent 15 years as an Operations Branch Manager. “I was the first Filipino to be promoted to Branch Operations Manager, a role that required me to oversee and streamline banking processes to ensure accuracy and efficiency,” he shares with The Global Filipino Magazine.
For Ronald, the decision to work abroad stemmed from a practical need to improve his economic standing. He notes, “Like many other Filipinos, I was drawn by the promise of better opportunities and a chance to secure a brighter future for myself and my family.” This move was also motivated by a desire to maximize the value of his hard-earned money through wise investments that would benefit not only himself but also contribute to his home country.
Before venturing abroad, Ronald wore multiple hats in the Philippines. Besides his role at PNB, he also served as a professor at Our Lady of Fatima University. These early experiences laid the groundwork for a career marked by leadership and an unwavering commitment to excellence. His role at Vistaland leverages his comprehensive understanding of banking and investment, coupled with a natural talent for connecting with people. “Joining Vistaland allowed me to use my skills to guide and empower our fellow kabayans to make sound financial decisions,” he explains. His impact has been profound; since joining, he has consistently ranked among the top International Sales Directors and AVPs.
Ronald’s passion for his current work extends beyond numbers and figures. He emphasizes the importance of addressing the financial struggles many Filipinos face abroad. “I’ve observed that Filipinos working overseas often lack financial literacy, which can lead to poor long-term financial decisions,” he states. He underscores the disparity between earnings and expenses: “For every 1 dirham earned, Filipinos spend 2 or 3 dirhams.” This observation, he notes, is often echoed by other nationalities, reinforcing the need for a shift in mindset among OFWs.
The most satisfying aspect of Ronald’s work is guiding his fellow OFWs towards financial independence. He often challenges them with a pivotal question: “Are you financially prepared for any eventualities?” Ronald explains, “Our time here is temporary, and we need to ensure that we are equipped for a smooth transition back to the Philippines.” His financial strategies include saving, investing in real estate, and funneling salary increases into long-term ventures. “I live a simple life, avoiding the allure of shopping festivals and unnecessary expenses,” he says. His investments have yielded steady returns, positioning him for a secure future.
Reflecting on the early challenges of his career, Ronald admits that his path was not without obstacles. Starting as a bank teller, he faced an uphill battle in advancing within a competitive industry. “The climb can be restrictive for Filipinos, with limited lateral or cross-functional opportunities,” he says. Yet, he persevered by consistently thinking ahead, innovating, and showing initiative. His dedication and results-oriented approach did not go unnoticed. “I suggested bank-wide cultural changes and took on challenging projects, which eventually led to my promotion,” he adds.
Ronald’s future plans involve returning to the Philippines, but his advocacy for financial literacy among OFWs will continue. “Even if I’m back home, my passion to motivate my fellow kabayans will remain,” he affirms. His advice for OFWs is straightforward and actionable: “Set goals, save effectively—ideally 30% of your salary if possible—take calculated risks, and invest wisely to secure your future.”
To emphasize the importance of preparation, Ronald paints a vivid picture of two possible futures for returning OFWs: “One could be an ex-OFW who retires in the Philippines without savings, reliant on family support. The other could be an ex-OFW who returns home financially stable and admired for their foresight.” He urges his peers to strive for the latter scenario, where strategic financial planning paves the way for comfort and security.
Beyond work, Ronald reflects on common pitfalls that hinder the financial success of many OFWs. “Many carry the burden of supporting their entire family and remitting all their earnings back home,” he observes. He also points out the pitfalls of impulsive spending and the ‘balikbayan box mentality,’ where lavish gifts take precedence over savings. “Some OFWs start businesses without adequate planning, which often leads to failure,” he adds. To counter these trends, Ronald has set an example by investing early in real estate and reaping the returns over time.
“Why are some OFWs still poor?” Ronald ponders, echoing a question that drives his commitment to financial advocacy. His own experiences and successes have inspired friends and family to follow in his footsteps, replicating his strategies. “I like to think of myself as a human WAZE app,” he shares with a smile. “I aim to guide my fellow OFWs to the best route for financial success.”
