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T‹V Rheinland certifies PDICís loans management, assessment of member banks as ISO 9001:2015 compliant

September 10, 2018

T‹V Rheinland Philippines, Inc. has certified the Quality Management Systems (QMS) for loans management (LM) and assessment of member banks (AMB) of the Philippine Deposit Insurance Corporation (PDIC) and all their support processes under ISO 9001:2015 standards. The certification was awarded following T‹V Rheinlandís successful upgrade audits of the QMS in July 2018 from ISO 9001:2008 standards.

In its reports, T‹V Rheinland cited that PDIC has established and maintained effective systems to ensure compliance with its policy and objectives; and its management systems comply, adequately maintain, and implement the requirements of ISO 9001:2015 standards. The audits also revealed that PDIC had zero non-conforming practices for both processes.

PDIC President Roberto B. Tan said that the certifications are testament to the Corporationís pursuit of its vision to be a world class organization in depositor protection, and are consistent with its adherence to the highest standards in delivering services to its clients. He expressed optimism that PDIC will be able to maintain the ISO certifications moving forward to support organizational effectiveness and efficiency.

In certifying the QMS on loans management, T‹Vís audit report commended the enhancements to the Quality Manual and Quality Procedures of the Corporation through amendments in its internal processes, engagement of collection/remittance agents, and PDICís compliance with the Philippine Financial Reporting Standards. Also cited in the audit were the recent Award of Excellence from the Governance Commission for Government Owned and Controlled Corporations (GCG) and the Institute of Corporate Directors (ICD) in recognition of the Corporationís achievement in garnering the highest score in the Corporate Governance Scorecard among all GOCCs; and its Gold Anvil Award from the Public Relations Society of the Philippines for its 2016 Annual Report. T‹V Rheinland also noted that the initiative of PDIC to improve its services in support of the QMS has always been a priority as evidenced by its inclusion in the medium-term strategic initiatives of the Corporation. The report stated as well that implementing a QMS based on international standards is an opportunity for PDIC to enhance customer satisfaction, meet applicable statutory and regulatory requirements, and address risks and opportunities associated with its operating environment.

Meanwhile, in certifying the QMS on assessment of member banks, T‹Vís audit report cited PDICís evident leadership and commitment to management system improvements. The key processes on AMB include the assessment collection due to PDIC from banks at an annual rate of 1/5 of 1% of total deposit liabilities and the audit of banksí deposit liabilities as declared in their Certified Statements. The report also mentioned the improved response rate of banks for PDICís pilot run of its web-based Online Survey System (OSS) that measures the level of satisfaction of member banks. Likewise noted in the audit report were PDICís ability to maintain documented and effective procedures governing the handling of information, data analysis, improvement actions and responses to customer feedback; and 100% compliance on the turnaround time to mail Official Receipts to banks of their assessment dues. The report also noted that the enhancement of the Certified Statement Worksheet and revision of rules and regulations on assessment have been undertaken as part of the initiative to adopt a QMS that will help improve the Corporationís overall performance.

PDIC has three ISO-certified frontline services. The QMS on loans management and assessment of member banks are the latest two frontline services certified under ISO 9001:2015 standards this year, following the certification by T‹V Rheinland of the QMS on Claims Settlement Operations (CSO) to the said standards in May 2018.

T‹V Rheinland Group, founded in 1872, is a global provider of technical, safety, and certification services with headquarters in Germany and operates in 520 offices in 69 countries.

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The Philippine Deposit Insurance Corporation (PDIC) was established on June 22, 1963 by Republic Act 3591 to provide depositor protection and help maintain stability in the financial system by providing deposit insurance. Effective June 1, 2009, the maximum deposit insurance coverage is PhP500,000 per depositor. All deposit accounts by a depositor in a closed bank maintained in the same right and capacity shall be added together. A joint account shall be insured separately from any individually-owned deposit account.

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PDIC is a government instrumentality created in
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