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Corporate Governance Scorecard (2019)

CORPORATE GOVERNANCE SCORECARD FOR GOCCs (2019)
Question Reference/Justification
1. Does the GOCC disclose a policy that:
  a. Stipulates the existence and scope of its efforts to address customer’s welfare.

YES

  1. 2019 GSIS Annual Report
  2. Revised GSIS Manual of Corporate Governance, pp. 24-28
  3. GSIS Citizens’ Charter, pp. 2-43
  4. Milestone Benefits for Pensioners
  5. PPG No. 262-14 – Transaction Monitoring System (TMS)
  6. Policies 1 (2017)
  7. Policies 2 (2017)
  8. PPG No. 327-18-GSIS Financial Assistance Loan
  9. PPG No. 324-18-Permanent Total Disability
  10. PPG No. 329-18-Revised Guidelines on Funeral Benefit
  11. **Policies (2019)
  12. **Policies 2 (2019)
  b. Elaborates its efforts to interact with the communities in which they operate?

YES

  1. 2019 GSIS Annual Report
  2. Revised GSIS Manual of Corporate Governance, pp. 24-28
  3. Adopt-a-School Program
  4. PPG No. 281-15 – Revised GSIS Scholarship Program
  5. PPG No.303-16 – Enhanced GSIS Scholarship Program
  6. PPG No. 313-17 – Educational Assistance Loan II
  7. Policies(2018)
  8. **Policies(2019)
  c. Ensure that its value chain is environmentally friendly or is consistent with promoting sustainable development ?

YES

  1. 2019 GSIS Annual Report
  2. Revised GSIS Manual of Corporate Governance, pp. 27-28
  3. Office Order No. 158-12 – Designation of a Pollution Control Officer
  4. Office Order No. 160-12 – Creation of GSIS National Greening Program Oversight Committee
  5. Office Order No. 211-13 – Constitution of the GSIS Disaster Contingency Committee
  6. Office Order No. 221-14 – Designation of an Energy Conservation Officer
  7. Office Order No. 284-15 -Guidelines on Cost Savings Program
  8. Office Order No. 349-17 -Energy Conservation Policy
  9. Policies(2018)
  10. **Policies(2019)
2. Does the GOCC disclose the activities that it has undertaken to implement the abovementioned policies:
  a. Customer health and safety

YES

  1. 2019 GSIS Annual Report
  2. Activities 1
  3. Activities 2
  4. Activities 3
  5. Activities 4 (2017)
  6. Activities 5 (2017)
  7. Activities 1 (2018)
  8. Activities 2 (2018)
  9. **Activities (2019)
  b. Interaction with the communities

YES

  1. 2019 GSIS Annual Report
  2. Activities 1
  3. Activities 2
  4. Activities 3 (2017)
  5. Activities 4(2017)
  6. Activities 5(2017)
  7. Activities 6(2017)
  8. Activities(2018)
  9. **Activities(2019)
  c. Environmentally-friendly value chain

YES

  1. 2019 GSIS Annual Report
  2. Activities 1
  3. Activities 2
  4. Activities 3 (2017)
  5. Activities(2018)
  6. **Activities(2019)
3. Does the GOCC have a separate corporate social responsibility (CSR) report/section or sustainability report/section

YES

  1. 2019 GSIS Annual Report
  2. Corporate Social Responsibility Page
4. Where stakeholder interests are protected by law, stakeholders should have the opportunity to obtain effective redress for violation of their rights.
  Does the GOCC provide contact details via the company’s website or Annual Report which stakeholders (eg. customers, suppliers, general public, etc.) can use to voice their concerns and/or complaints for possible violation of their rights? Contact details for complaints of other stakeholders:

  1. STAKEHOLDERS’ HOTLINE: (02)891-6270
  2. GSIS Contact Center
  3. GSIS Citizen’s Charter
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?

YES

  1. 2019 GSIS Annual Report
  2. Revised GSIS Manual of Corporate Governance, p.7
  3. PPG No. 228-13 – GSIS Office Rules and Regulations
  4. PPG No. 246-13 – The GSIS Health and Wellness Program
  5. PPG No. 299-15 – The GSIS Drug-Free Workplace
  6. Office Order No. 247-14 – Use and Promotion of Gender Fair Language
  7. Office Order No. 297-16- Home or Hospital Visit for Employees
  8. PPG No. 325-18 – Drug Free Workplace
  9. **Policies(2019)
  b. Does the GOCC publish data relating to health, safety, and welfare of its employees

YES

  1. 2019 GSIS Annual Report
  2. Employees Health Welfare Activites (2016)
  3. Employees Health Welfare Activites (2017)
  4. Employees Health Welfare Activites (2018)
  5. ** Employees Health Welfare Activities (2019)
  6. Activities 1 (2017)
  7. Activities 2 (2017)
  8. Activities(2018)
  9. **Activities(2019)
  c. Does the GOCC have training and development programmes for its employees

YES

  1. 2019 GSIS Annual Report
  2. Revised GSIS Manual of Corporate Governance, p.7
  3. GSIS Competency Framework
  4. PPG No. 236-13 – The GSIS Group Performance Appraisal System
  5. PPG No. 277-15 – Amendment to PPG No. 236-13
  6. PPG No. 289-15 – GSIS Employee Development Program
  7. PPG No. 290-15- GSIS Cross Training Program for the Rank-and-File
  8. PPG No. 291-15 – GSIS Leadership Program
  9. PPG No. 294-15 – The Revised GSIS Awards and Recognition System
  10. Policies (2017)
  11. PPG No. 324-18 – Attendance to GSIS Learning and Development Programs
  12. ** PPG No. 346-19 – Enhanced Leadership Development Program
  d. Does the GOCC publish data on training and development programs for its employees

YES

  1. Activities 1(2015)
  2. Activties 2(2016)
  3. 2017 Training Programs Conducted
  4. 2018 Training Programs Conducted
  5. **2019 Training Programs Conducted
  6. **Activities(2019)
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 concernng illegal (including corruption) and unethical behavior?

YES

  1. GSIS Whistleblower Policy
  2. GCG Whistle Blowing Web Portal
  b. Does the GOCC have procedures to protect an employee/person who reveals illegal/unethical behavior from retaliation?

YES

  1. GSIS Whistleblower Policy
  2. GCG Whistle Blowing Web Portal
7. Quality of Annual Report
Does the GOCC’s annual report disclose the following items:
  a. Corporate Objectives

YES

  1. 2019 GSIS Annual Report
  b. Financial Performance Indicators

YES

  1. 2019 GSIS Annual Report
  c. Non-financial performance indicators

YES

  1. 2019 GSIS Annual Report
  d. Details of whistle-blowing policy

YES

  1. GSIS Whistleblower Policy
  2. GCG Whistle Blowing Web Portal
  3. 2019 GSIS Annual Report
  e. Biographical details (at least age, qualifications, date of first appointment, relevant experience, and other directorships of listed companies) of directors/commissioners

YES

  1. 2019 GSIS Annual Report
  2. * Board of Trustees
  f. Training and/or continuing education programme attended by each director/commissioner

YES

  1. 2019 GSIS Annual Report
  2. * Board of Trustees
  3. **Board of Trustees Continuing Education
8. Are the Annual Reports downloadable from the GOCC’s website?

YES

  1. Annual Reports page
9. Corporate Governance Confirmation Statement
    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?

YES

  1. 2019 GSIS Annual Report
  2. ** 2019 Corporate Governance Committee Report
10. Timely filing/release of annual/financial reports
  a. Are the audited financial report/statement released within 60 days upon receipt from COA?

YES

  1. *2018 Audited Financial Statement

    Date of Receipt (from COA): 26 June 2019

    Date Released/Published: 1 July 2019
  b. Is the annual report released within 90 days from release of audited financial report?

YES

  1. *Date when Audited Financial Report was released/published: 26 June 2019

    Date when Annual Report was released/published: 20 September 2019

    >

  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

  1. 2019 GSIS Annual Report, Statement of Management Responsibility
  2. 2019 GSIS Annual Report, Audit Committee
  3. Revised GSIS Manual of Corporate Governance, p.30
11. Corporate Vision/Mission
  a. Has the Board of Directors reviewed the vision and mission/corporate strategy in the last financial year

YES

  1. 2019 GSIS Annual Report
  2. *Strategic Planning Seminar Workshop conducted by the People Ignite Organizational Development and Training, Inc., held on 24-25 October, 2019 at the Coconut Palace, CCP Complex, Pasay City. In the said activity, the Board of Trustees reviewed the Vision Mission and Values (VMV) as well as the corporate strategy of the GSIS.
  3. *2019 Corporate Governance Committee Report – In October 2019, the Board reviewed the Vision, Mission Statement, and Core Values of the GSIS as an institution.
  4. **Board reviews GSIS corporate strategy
  b. Does the Board of Directors monitor/oversee the implementation of the corporate strategy?

YES

  1. Revised GSIS Manual of Corporate Governance, pp. 6-7
  2. 2019 GSIS Annual Report
12. Did the GOCC achieve 90% in the PES?

YES

  1. PES Rating: Still for consideration by the GCG
  2. *2019 Performance Scorecard
  3. *2019 PES
13. Code of ethics or conduct
  a. Are the details of the code of ethics or conduct disclosed?

YES

  1. Revised GSIS Manual of Corporate Governance. P.21
  2. PPG No. 228-13 – GSIS Office Rules and Regulations
  3. PPG 257-14 Amended GSIS “No Gift” Policy
  4. Revised Rules on Administrative Cases in Civil Service (RRACCS)
  b. Does the GOCC disclose that all Directors/Commissioners, senior management and employees are required to comply with the code?

YES

  1. Revised GSIS Manual of Corporate Governance
  2. PPG No. 228-13 – GSIS Office Rules and Regulations, p.2 – “this PPG shall cover all GSIS officials and employees, regardless of employment status, in all GSIS offices”
  c. Does the company disclose how it implements and monitors compliance with the code of ethics or conduct?

YES

  1. *2019 Corporate Governance Committee Report – The Committee monitored the administrative cases on appeal to the regular courts through the regular monthly reports submitted by the Legal Services Group. xxx xxx xxx In line with the thrust of the Board to recruit, develop, and retain a competent workforce, the Committee reviewed various policies and programs designed to instill the core values of professionalism, service excellence, and teamwork.
  2. PPG No. 228-13 – GSIS Office Rules and Regulations – distributed to the Board of Trustees, Office of the President and General Manager, All Senior Vice Presidents, All Vice Presidents, All Officers IV, All Branch Managers
14. Does the Board appoint a Nomination and Compensation / Remuneration Committee

YES

  1. 2019 GSIS Annual Report
  2. *Board Committees as of 31 December 2019
  3. The Corporate Governance Committee functions as the Nomination/Remuneration Committee
15. Did the Nomination and Compensation / Remuneration Committee meet at least twice during the year?

YES

Meetings of the Corporate Governance Committee:

  1. *2019
16. If yes, is the report of the Nomination and Compensation / Remuneration Committee publicly disclosed?

YES

  1. 2019 GSIS Annual Report
  2. *2019 Corporate Governance Committee Report
17. Does the Board appoint an Audit Committee?

YES

  1. 2019 GSIS Annual Report
  2. *Board Committees as of 31 December 2019
18. If yes, is the report of the Audit Committee publicly disclosed?

YES

  1. 2019 GSIS Annual Report
  2. **2019 Audit Committee Report
19. Does at least one member of the Audit Committee have an audit, accounting or finance background (qualification or experience)?

YES

  1. **2019 GSIS Annual Report
    (Profile of Trustee Jocelyn De Guzman Cabreza)
  2. *Board Committees as of 31 December 2019
20. Did the Audit Committee meet at least four times during the year?

YES

Meetings of the Audit Committee:

  1. *2019
21. Does the Board appoint a Risk Management Committee?

YES

  1. 2019 GSIS Annual Report
  2. *Board Committees as of 31 December 2019
22. If yes, is the report of the Risk Management Committee publicly disclosed?

YES

  1. 2019 GSIS Annual Report
  2. *2019 Risk Oversight Committee Report
23. Does at least one member of the Risk Management Committee have a background in finance and investments?

YES

  1. 2019 GSIS Annual Report
    (Profile of Trustee Wilfredo C. Maldia
  2. *Board Committees as of 31 December 2019
24. Board meetings and attendance
  a. Are the Board of Directors meetings scheduled at the beginning of the year? (end of Q1)

YES

  1. Revised GSIS Manual of Corporate Governance, p.7
  2. Revised GSIS Board Protocols, pp. 21-22
  b. Does the Board of Directors meet at least monthly?

YES

Board Attendance

  1. *2019
  c. Did the Board of Directors meet on at least 75% on their scheduled meetings?

YES

Meetings Held

  1. **2019
  d. Has each of the directors/commissioners attended at least 90% of all the Board meetings held during the year?

YES

Board Attendance

  1. *2019
  e. Did the Board of Directors meet separately at least once during the year without the President/CEO present?

YES

  1. *The Board of Trustees held meetings without the presence of the President and General Manager on 21 May 2019 (Audit Committee Meeting) and on 22 May 2019 (Board Meeting).
25. Access to information
  a. Does the GOCC have a policy that stipulates board papers for Board of Directors/Comissioners

YES

  1. Revised GSIS Board Protocols, pp.23-24
  b. Is the Board Secretary trained in legal, accountancy or company secretarial practices?

YES

  1. Corporate Secretary’s profile
26. Internal Audit
  a. Does the company have a separate internal audit function?

YES

  1. 2019 GSIS Annual Report(VP Juliet Bautista)
  2. Revised GSIS Manual of Corporate Governance, pp8,15
  3. Audit Committee Charter
  b. Does the appointment and removal of the internal auditor require the approval of the Audit Committee?

YES

  1. Audit Committee Charter
  2. GSIS Organizational Chart
27. Risk Oversight
  a. Does the company disclose the internal control procedures/risk management systems it has in place?

YES

  1. 2019 GSIS Annual Report
  2. Risk Management Program
  3. Revised GSIS Manual of Corporate Governance, pp.8,15,30
  4. Revised GSIS Manual of Corporate Governance, pp.7,8,15,18,29
  b. Does the Annual Report disclose that the Board of Directors/Commissioners has overseen a review of the company’s material controls (including operational, financial and compliance controls) and risk management systems?

YES

  1. 2019 GSIS Annual Report
  2. **2019 Audit Committee Report
  3. *2019 Risk Oversight Committee Report
  c. Does the company disclose how key risks are managed?

YES

  1. 2019 Annual Report
  2. Risk Management Program
  3. Risk Oversight Committee Charter
  4. Revised GSIS Manual of Corporate Governance, pp.7,8,15,18,29
  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 controls / risk management systems?

YES

  1. 2019 GSIS Annual Report
  2. **2019 Audit Committee Report
28. Board Chairman
    Do different persons assume the roles of Chairman and CEO?

YES

  1. 2019 GSIS Annual Report

    January 2019 to July 3, 2019
    *Chairman – Rolando L. Macasaet
    *President and General Manager – Jesus Clint O. Aranas

    July 4, 2019 to December 2019
    *Chairman and Acting President and General Manager – Rolando L. Macasaet

29. Board Directors
  a. Does the GOCC have orientation programmes for new Directors?

YES

  1. Revised GSIS Board Protocols, p.15
  2. Orientation Programs for newly-appointed Trustees are whole-day affairs scheduled takes his oath of office. Upon arrival of the new Trustee, s/he is welcomed by the Corporate Secretary. A new Trustee’s Welcome Kit is then handed to her/him. The Kit contains several documents such as: A copy of Republic Act No. 8291 and its Implementing Rules and Regulations, The Revised GSIS Manual of Corporate Governance, The Revised GSIS Board Protocols, relevant issuances of the GCG (i.e. Fit and Proper Rule, Code of Corporate Governance, etc.), a copy of the Board Committee Charters, A Directory of GSIS Executives and Employees of the Office of the Corporate Secretary. The new Trustee and the Corporate Secretary discuss the contents of the Kit. After which, a meet-and-greet session is scheduled for the new Trustee to meet GSIS Executives, where the Officers of the GSIS Management may introduce themselves and give the Trustee a short orientation of their function and office.
  b. Does the GOCC have a policy that encourages Directors/Commissioners to attend on-going or continuous professional education programmes?

YES

  1. Revised GSIS Manual of Corporate Governance, p30
  c. Did all Appointive Directors attend at least 1 training for the calendar year?

YES

  1. 2019 GSIS Annual Report
  2. * Board of Trustees
  3. ** Board of Trustees Continuing Education
30. Board appraisal
  a. Is an annual performance assessment conducted for the Board of Directors?

YES

  1. Revised GSIS Manual of Corporate Governance, p.30
  2. A performance assessment of the GSIS Board of Trustees was conducted on 9 Decemebr 2019 using the newly developed **GSIS Board Evaluation Instrument (GBEI)
  b. Does the GOCC disclose the process followed in conducting the Board assessment?

YES

**GSIS Board Evaluation Instrument (GBEI)

  c. Does the GOCC disclose the criteria used in the Board assessment?

YES

**GSIS Board Evaluation Instrument (GBEI)

31. Committee Appraisal
  a. Is an annual performance assessment conducted for the Board of Directors Committees?

YES

  1. 2019 GSIS Annual Report
  2. **GSIS Board Evaluation Instrument (GBEI)
 
Bonus
  Stakeholder Relationships
  1. Does the GOCC practice Global Reporting Index (GRI) on its annual reports?
  Disclosure and Transparency
  2. Quality of Annual Report
Are the audited annual financial report/statement released within 30 days upon the receipt from COA?

YES

2018 Audited Financial Statement
Date of Receipt: 26 June 2019

Date Released/Published: 1 July 2019

 
Penalty
  Responsibilities of the Board
  1. Are there members of the Board of Directors who hold more than five (5) positions in GOCCs and PLCs?

NO

  1. 2019 Annual Report
  2. **Board Affiliations
  2. Is there non-compliance with Good Governance Conditions?

NO