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| PDIC CORPORATE GOVERNANCE SCORECARD 2017 |
| Standard | PDIC Compliance | Link | |
| 1. | Does the GOCC disclose a policy that: | ||
| a. | Stipulates the existence and scope of its effort to address customer's welfare? | The PDIC Annual Report contains the Corporation's commitment and determination to address its customer's welfare. Likewise, the PDIC Code of Corporate Governance embodies the statement and commitment of the Corporation to address the needs of its customers. | 2017 PDIC Annual Report
Depositors – Pages 10, 23-31 Creditors – Pages 10-11, 23-27, 41 Member Banks – Pages 10-11, 16-17, 28-29, 33-41 General Public – Pages 27-28, 30-31, 48-52 PDIC Website Code of Corporate Governance - Pages 20-21 |
| b. | Elaborates its efforts to interact with the communities in which they operate? | The PDIC Annual Report recounts policies and programs to interact with its stakeholders. | 2017 PDIC Annual Report Pages 10-13, 25-27, 35, 45-51, 63-65 |
| c. | Ensure that its value chain is environmentally friendly or is consistent with promoting sustainable development? | PDIC's Corporate Social Responsibility focuses on its advocacy to protect the environment and balanced development of the communities. | PDIC Website http://www.pdic.gov.ph/?nid1=56&disclosures=2&cgo=1&cg=4e 2017 PDIC Annual Report Pages 63-65 |
| 2. | Does the GOCC disclose the activities that it has undertaken to implement the abovementioned policies? | ||
| a. | Customer health and safety | The PDIC Annual Report provides detailed account of the programs and activities of the Corporation to implement its policies and commitment to the health and safety of its customers. The PDIC Code of Corporate Governance also captures PDIC's commitment to undertake programs and activities to promote and safeguard the interests of the Corporation's customers. | 2017 PDIC Annual Report
Depositors – Pages 10, 23-31 Creditors – Pages 10-11, 23-27, 41 Member Banks – Pages 10-11, 16-17, 28-29, 33-41 General Public – Pages 27-28, 30-31, 48-52 PDIC Website Code of Corporate Governance - Pages 20-21 |
| b. | Interaction with the communities | The Annual Report describes the events and programs of the Corporations regarding its commitment to connect and communicate with its stakeholders. | 2017 PDIC Annual Report Pages 10-13, 25-27, 35, 45-51, 63-65 |
| c. | Environmentally-friendly value chain | The Corporate Social Responsibility Section in the website describes the measures undertaken by the Corporation to live up to its social responsibility. | PDIC Website http://www.pdic.gov.ph/?nid1=56&disclosures=2&cgo=1&cg=4e 2017 PDIC Annual Report Pages 63-65 |
| 3. | Does the GOCC have a separate corporate social responsibility (CSR) report/section or sustainability report/section? | PDIC Website http://www.pdic.gov.ph/?nid1=56&disclosures=2&cgo=1&cg=4e 2017 PDIC Annual Report Pages 27, 45, 49,63-65 | |
| 4. | Where stakeholder interests are protected by law, stakeholders should have the opportunity to obtain effective redress for violation of their rights. | ||
| a. | Does the GOCC provide contact details via the company's website or Annual Report which stakeholders (e.g. customers, suppliers, general public etc.) can use to voice their concerns and/or complaints for possible violation of their rights? | Yes | PDIC Website https://www.pdic.gov.ph/files/ CGO/Whistle%20Blowing0001.pdf Citizen's Charter Administrative Appeal Customer Service Feedback Form Whistleblowing Policy Whistleblowing Portal 2017 PDIC Annual Report Pages 48-50, 132 |
| 5. | Performance-enhancing mechanisms for employee participation should be permitted to develop | ||
| a. | Does the GOCC explicitly mention the health, safety and welfare policy for its employees? | The Annual Report provides for the policies and programs of the Corporation on employee welfare and development, through trainings and other activities. Likewise, data on the activities and projects dedicated for the employees' wellbeing and growth are laid down in the Annual Report and the Human Resource Section of the website. | PDIC Website http://www.pdic.gov.ph/?nid1=1&nid2=8 |
| b. | Does the GOCC publish data relating to health, safety and welfare of its employees? | ||
| c. | Does the GOCC have training and development programmes for its employees? | 2017 PDIC Annual Report Pages 55-65 | |
| d. | Does the GOCC publish data on training and development programs for its employees? | ||
| 6. | Stakeholders including individual employee and their representative bodies, should be able to freely communicate their concerns about illegal or unethical practices to the board and their rights should not be compromised for doing this | ||
| a. | Does the GOCC have procedures for complaints by employees, concerning illegal (including corruption) and unethical behavior? | The PDIC Annual Report gives detailed account on the programs and activities of the Corporation to implement its policies and commitment to the health and safety of its customers. | PDIC Website http://www.pdic.gov.ph/?nid1=1&nid2=8 a. Code of Ethics b. Whistleblowing Policy 2017 PDIC Annual Report 19, 59 |
| b. | Does the GOCC have procedures to protect an employee/person who reveals illegal/unethical behavior from retaliation? | ||
| 7. | Quality of Annual Report Does the GOCC's Annual Report disclose the following items: | ||
| a. | Corporate Objectives | The Corporation's guiding objectives and mandates are embodied in its targets and accomplishments as contained in the Annual Report. | 2017 PDIC Annual Report Pages – 1, 2, 8-13, 72-73 Corporate Targets/Accomplishments |
| b. | Financial performance indicators | The Corporation's financial accomplishments are presented in the Annual Report. | 2017 PDIC Annual Report
Pages 66-71 |
| c. | Non-financial performance indicators | The Annual Report presents the non-financial aspect of the Corporation's accomplishments to achieve its targets in accordance with its mandates. | 2017 PDIC Annual Report
Major Final Outputs – Page 21 Bank Examination – Page 34-35 Claims Settlement – Pages 23-26 Receivership – Pages 36-41 |
| d. | Details of whistleblowing policy | The Annual Report highlighted the Whistleblowing structure of the Corporation. | 2017 PDIC Annual Report
Page 19 PDIC website Code of Corporate Governance Pages 18-19 Whistleblowing Policy |
| e. | Biographical details (at least age, qualifications, date of first appointment, relevant experience and any other directorships of listed companies) of directors/commissioners | The biographical details of the Corporation's Board members are presented in the Annual Report in accordance with good governance practice. | 2017 PDIC Annual Report Pages 74-79 |
| f. | Training and/or continuing education programme attended by each director/commissioner | The Annual Report also discloses the trainings and programmes attended by the members of the Board in 2017 to improve their skills in handling the Corporation's affairs. | 2017 PDIC Annual Report Page 57, 77-78 PDIC Website http://www.pdic.gov.ph/?nid1=1&nid2=5 |
| 8. | Is the annual report downloadable from the GOCC's website? | PDIC Website http://www.pdic.gov.ph/?nid1=11&nid2=1 | |
| 9. | Corporate Governance Confirmation Statement | ||
| a. | Does the Annual Report contain a statement confirming the company's full compliance with the Code of Corporate Governance and where there is non-compliance, identify and explain reasons for each issue? | The Annual Report embodies the commitment of the Corporation to fully comply with the Code of Corporate Governance. | 2017 PDIC Annual Report Page 18-19 |
| 10. | Timely filing/release of annual/financial reports | ||
| a. | Are the audited annual financial report/statement released within 60 days upon receipt from COA? | Yes Audited Financial Statements( Received from COA June 27, 2018, Date Posted July 5, 2018 | PDIC Website http://www.pdic.gov.ph/?nid1=56&disclosures=4& transparency=1&transid=8 |
| b. | Is the annual report released within 90 days from release of audited financial report? | Yes 2017 Annual Report (Uploaded on September 25, 2018) | PDIC Website http://www.pdic.gov.ph/?nid1=11&nid2=1 |
| c. | Is the true and fairness/fair representation of the annual financial statement/reports affirmed by the board of directors/commissioners and/or the relevant officers of the company? | Yes | 2017 PDIC Annual Report - Financial Statements Publication Page Page 103 |
| 11. | Corporate Vision/Mission | ||
| a. | Has the Board of Directors reviewed the vision and mission/strategy in the last financial year? | The Section on Board of Directors' Compliance with GCG Memorandum Circular No. 2013-02 describes the active participation of the members of the Board in conceptualizing and reviewing the Corporation's mission and vision statements. | PDIC Website http://www.pdic.gov.ph/?nid1=1&nid2=5 |
| b. | Does the Board of Directors monitor/oversee the implementation of the corporate strategy | The Implementation of Corporate Strategy Section in the website lays down the Board's valuable contribution in overseeing the implementation of the corporate strategy. | PDIC Website http://www.pdic.gov.ph/?nid1=1&nid2=5 |
| 12. | Did the GOCC achieve 90% in the PES? | Yes | PDIC Website 2017 PES- http://www.pdic.gov.ph/files/cgo /RCP_2017%20for%20website.pdf 2017 PDIC Annual Report Page 21 |
| 13. | Code of Ethics or Conduct | ||
| a. | Are the details of the Code of Ethics or Conduct disclosed? | The PDIC Code of Ethical Behavior provides the norms of conduct that every PDIC employee and Board member should comply with. It also prescribes the manner by which the Code's provisions are to be implemented and observed throughout the Corporation. | PDIC Website http://www.pdic.gov.ph/files/ CGO/CodeofEthics.pdf |
| b. | Does the GOCC disclose that all Directors/Commissioner, senior management and employees are required to comply with the Code? | PDIC Website http://www.pdic.gov.ph/files/ CGO/CodeofEthics.pdf PDIC Code of Ethical Behavior Page 1 | |
| c. | Does the company disclose how it implements and monitors compliance with the code of ethics or conduct. | PDIC Website http://www.pdic.gov.ph/files/ CGO/CodeofEthics.pdf PDIC Code of Ethical Behavior Page 10-11 | |
| 14. | Does the Board appoint a Nomination Compensation/Remuneration Committee? | The GCG has recognized that there are GOCCs such as PDIC, which have limited number of Board Members. Thus the GCG authorized PDIC to add the functions of the Nomination and Renumeration Comittee to one of the exists Board Committee. In accordance with the said authority, the Board of Directors resolved to add the functions of the Nomination and Reumeration Committee to the Board Governance Committee. This is contained in the Revised Code of Corporate Governance that was approved by the GCG on January 9,2015. With this framework in place, the Board Governance Committee will be in a poition to exercise the functiions of the Nomination and Remuneration Committee. | PDIC Website http://www.pdic.gov.ph/?nid1=1&nid2=5 |
| 15. | Did the Nomination Compensation Committee meet at least twice during the year? | PDIC Website http://www.pdic.gov.ph/?nid1=1&nid2=5 | |
| 16. | If yes, is the report of the Nomination Compensation/Remuneration Committee publicly disclosed? | PDIC Website http://www.pdic.gov.ph/?nid1=1&nid2=5 | |
| 17. | Does the Board appoint an Audit Committee? | Yes | PDIC Website http://www.pdic.gov.ph/?nid1=1&nid2=5 |
| 18. | If yes, is the report of the Audit Committee publicly disclosed? | The Board Audit Committee's accomplishments are contained in the Annual Report to ensure transparency and accountability. | 2017 PDIC Annual Report Page 19 |
| 19. | Does at least one member of the Audit Committee have an audit, accounting or finance background (qualification or experience)? | Yes; | PDIC Website
http://www.pdic.gov.ph/?nid1=56&disclosures=2&cgo=1&cg=2a &resume=4 2017 PDIC Annual Report Page 77-78 |
| 20. | Did the Audit Committee meet at least four times during the year? | Yes | PDIC Website http://www.pdic.gov.ph/files/CGO/ Attendance%20of%20board%20directors 2017.pdf |
| 21. | Does the Board appoint a Risk Management Committee? | Yes | PDIC Website http://www.pdic.gov.ph/?nid1=1&nid2=5 |
| 22. | If yes, is the report of Risk Management Committee publicly disclosed? | The Board Risk Management Committee's reports are contained in the Annual Report to ensure transparency and accountability. | 2017 PDIC Annual Report Page 20-21 |
| 23. | Does at least one member of the Risk Management Committee have a background in finance and investments? | Yes | PDIC Website
http://www.pdic.gov.ph/?nid1=56&disclosures=2&cgo=1&cg=2a &resume=5 2017 PDIC Annual Report Page 77-78 |
| 24. | Board meetings and attendance | ||
| a. | Are the Board of Directors meetings scheduled at the beginning of the year? (end of Q1) | These Sections of the website disclosed the guidelines and procedures on the conduct of Board meetings within the Corporation. | PDIC Website http://www.pdic.gov.ph/?nid1=1&nid2=5 |
| b. | Does the Board of Directors meet at least monthly? | PDIC Website http://www.pdic.gov.ph/files/CGO/ Attendance%20of%20board%20directors 2017.pdf | |
| c. | Did the Board of Directors meet on at least 75% on their scheduled meetings? | PDIC Website http://www.pdic.gov.ph/files/CGO/ Attendance%20of%20board%20directors 2017.pdf | |
| d. | Has each of the Directors/commissioners attended at least 90% of all the board meetings held during the year? | PDIC Website http://www.pdic.gov.ph/files/CGO/ Attendance%20of%20board%20directors 2017.pdf | |
| e. | Did the Board of Directors meet separately at least once during the year without the President/CEO present? | PDIC Website http://www.pdic.gov.ph/?nid1=1&nid2=5 | |
| 25. | Access to information | ||
| a. | Does the GOCC have a policy that stipulate that board papers for Board of Directors meetings be provided to the Board at least 3 working days in advance of the board meeting? | These Sections of the website provide guidelines to ensure that the members of the Board are informed of relevant and important matters within the Corporation to assist them in decision-making. |
PDIC Website http://www.pdic.gov.ph/?nid1=1&nid2=5 |
| b. | Is the board secretary trained in legal, accountancy or company secretarial function? | PDIC Website http://www.pdic.gov.ph/files/CGO/ resume/resume-PST.pdf | |
| 26. | Internal Audit | ||
| a. | Does the company have a separate internal audit function? | The internal audit function of the Corporation ensures that there is an independent and objective assurance to improve an organization's operations. | 2017 PDIC Annual Report Page 19 |
| b. | Is the head of the internal audit identified or if outsourced, the name of the external firm is disclosed? | PDIC Website http://www.pdic.gov.ph/?nid1=56&disclosures=2& cgo=1&cg=2a§or=2 http://www.pdic.gov.ph/files/CGO/ resume/fdreyes-resume.pdf 2017 PDIC Annual Report Page 82 | |
| c. | Does the appointment and removal of the internal auditor require the approval of the Audit Committee? | PDIC Website http://www.pdic.gov.ph/?nid1=1&nid2=5 | |
| 27. | Risk Oversight | ||
| a. | Does the company disclose the internal control procedures/risk management system it has in place? | Risk oversight provides a robust process for identifying, prioritizing, sourcing, managing and monitoring its critical risks. | PDIC Website http://www.pdic.gov.ph/?nid1=56&disclosures=2&cgo=1 http://www.pdic.gov.ph/files/CGO/ Material Risk website.pdf 2017 PDIC Annual Report Page 20-21 |
| b. | Does the Annual Report disclose that the board of Directors/Commissioners has conducted a review of the company's material controls (including operational, financial and compliance controls) and risk management systems? | 2017 PDIC Annual Report Page 20-21 | |
| c. | Does the company disclose how key risks are managed? | PDIC Website http://www.pdic.gov.ph/?nid1=56&disclosures=2&cgo=1 http://www.pdic.gov.ph/files/CGO/ Material Risk website.pdf | |
| d. | Does the Annual Report contain a statement from the Board of Directors or Audit Committee commenting on the adequacy of the GOCC's internal control/risk management systems? | 2017 PDIC Annual Report Page 19 | |
| 28. | Board Chairman | ||
| a. | Do different persons assume the roles of Chairman and CEO? | Yes | PDIC Website http://www.pdic.gov.ph/?nid1=56&disclosures=2&cgo=1& cg=2a§or=1 2017 PDIC Annual Report Page 76 |
| 29 | Board of Directors Development | ||
| a. | Does the GOCC have orientation programmes for new Directors? | The Section in the website specifies the policy of the Corporation to ensure that the members of the Board are abreast with current trends in finance, governance, economics as well as the operations of the Corporation | PDIC Website http://www.pdic.gov.ph/?nid1=1&nid2=5 |
| b. | Does the GOCC have a policy that encourages Directors/Commissioners to attend on-going or continuous professional education programmes? | PDIC Website http://www.pdic.gov.ph/?nid1=1&nid2=5 | |
| c. | Did all appointive Directors attend at least 1 training for the calendar year? |
2017 PDIC Annual Report Page 57, 77-78 PDIC Website http://www.pdic.gov.ph/?nid1=1&nid2=5 | |
| 30 | Board Appraisal | ||
| a. | Is an annual performance assessment conducted of the Board of Directors? | The process of appraisal develops an effective board and enables directors' performance to be monitored and improvements to be made. | PDIC Website http://www.pdic.gov.ph/?nid1=1&nid2=5 |
| b. | Does the GOCC disclose the process followed in conducting the Board assessment? | ||
| c. | Does the GOCC disclose the criteria used in the Board assessment? | ||
| 31 | Committee Appraisal | ||
| a. | Is an annual performance assessment conducted of the Board of Directors Committees? | All the members of the Board Governance Committee, Board Audit Committee and Board Risk Management Committee answered a performance assessment form for each Board Comnittee to evaluate their performance, and identify strengths and ares off improvement. the duties and responsibilities of Board Committees charters were the basis of the criteria used in the performance assessment form. | PDIC Website Annual Performance Assessment |
| Stakeholder Relationships | |||
| 1. | Does the GOCC practice Global Reporting Index (GRI) on its annual reports? | Yes | 2017 PDIC Annual Report Page 96-98 |
| Disclosure and Transparency | |||
| Quality of Annual Report | |||
| 2. | Are the audited financial report/statement released within 30 days upon the receipt from COA? | Yes | PDIC Website http://www.pdic.gov.ph/?nid1=56&disclosures=4& transparency=1&transid=8 |
| Responsibilities of the Board | |||
| 1. | Are there members of the Board of Directors who hold more than five positions in GOCCs and PLCs? | No | |
| 2. | Is there non-compliance with Good Governance Conditions? | No | |
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