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Corporate Governance Scorecard (2018)

CORPORATE GOVERNANCE SCORECARD FOR GOCCs (2018)
# Question Yes No Reference/Justification
I. Stakeholder Relationships (15%)
1. Does the GOCC disclose a policy that:
  a. Stipulates the existence and scope of its efforts to address customer’s welfare.   1. 2018 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. Office Order 338-17 – Data Privacy
7. Policies 1 (2017)
8. Policies 2 (2017)
9. Policies 3 (2017)
10. PPG No. 320-18-Simplified Documentary Requirements
11. PPG No. 327-18-GSIS Financial Assistance Loan
12. PPG No. 324-18-Permanent Total Disability
13. PPG No. 329-18-Revised Guidelines on Funeral Benefit

  b. Elaborates its efforts to interact with the communities in which they operate?   1. 2018 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)
  c. Ensure that its value chain is environmentally friendly or is consistent with promoting sustainable development ?   1. 2018 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. 334-17 -Best Practices Policy
9. Office Order No. 349-17 -Energy Conservation Policy
10. Policies(2018)

2. Does the GOCC disclose the activities that it has undertaken to implement the abovementioned policies:
  a. Customer health and safety   1. 2018 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)

  b. Interaction with the communities   1. 2018 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)
  c. Environmentally-friendly value chain   1. 2018 GSIS Annual Report
2. Activities 1
3. Activities 2
4. Activities 3 (2017)
5. Activities(2018)
3. Does the GOCC have a separate corporate social responsibility (CSR) report/section or sustainability report/section   1. 2018 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?   1. 2018 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
  b. Does the GOCC publish data relating to health, safety, and welfare of its employees   1. 2018 GSIS Annual Report
2. Employees Health Welfare Activites (2016)
3. Employees Health Welfare Activites (2017)
4. Employees Health Welfare Activites (2018)
5. Activities 1 (2017)
6. Activities 2 (2017)
7. Activities(2018)
  c. Does the GOCC have training and development programmes for its employees   1. 2018 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
  d. Does the GOCC publish data on training and development programs for its employees   1. Activities 1(2015)
2. Activties 2(2016)
3. 2017 Training Programs Conducted
4. 2018 Training Programs Conducted

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?   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?   1. GSIS Whistleblower Policy
2. GCG Whistle Blowing Web Portal

 
II. Disclosure and Transparency (35%)
7. Quality of Annual Report
Does the GOCC’s annual report disclose the following items:
  a. Corporate Objectives   2018 GSIS Annual Report
  b. Financial Performance Indicators   2018 GSIS Annual Report
  c. Non-financial performance indicators   2018 GSIS Annual Report
  d. Details of whistle-blowing policy   1. GSIS Whistleblower Policy
2. GCG Whistle Blowing Web Portal
3. 2018 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   2018 GSIS Annual Report

  f. Training and/or continuing education programme attended by each director/commissioner   2018 GSIS Annual Report

8. Are the Annual Reports downloadable from the GOCC’s website?   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?   2018 GSIS Annual Report
10. Timely filing/release of annual/financial reports
  a. Are the audited financial report/statement released within 60 days upon receipt from COA?   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?   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?   1. 2018 GSIS Annual Report, Statement of Management Responsibility
2. 2018 GSIS Annual Report, Audit Committee

3. Revised GSIS Manual of Corporate Governance, p.30

 
III. Responsibilities of the Board (50%)
11. Corporate Vision/Mission
  a. Has the Board of Directors reviewed the vision and mission/corporate strategy in the last financial year   1.2018 GSIS Annual Report
2. Strategic Planning Seminar Workshop conducted by the Human Resource Innovations and Solutions Inc. (HURIS) [held on 14 August 2018 and 29 August 2018 at the Tower Club Makati and GSIS Home Office, respectively]

  b. Does the Board of Directors monitor/oversee the implementation of the corporate strategy?   1. Revised GSIS Manual of Corporate Governance, pp. 6-7
2. 2018 GSIS Annual Report
12. Did the GOCC achieve 90% in the PES?   1. PES Rating: Still for consideration by the GCG
2. 2018 Performance Scorecard
3. 2018 PES
13. Code of ethics or conduct
  a. Are the details of the code of ethics or conduct disclosed?   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?   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?   1. 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
2. 2018 Corporate Governance Committee Report
“”The Committee likewise reviews and monitors administrative cases, and exercises oversight functions over the Human Resources Office. xxx xxx xxx IIn 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.”
14. Does the Board appoint a Nomination and Compensation / Remuneration Committee   1. 2018 GSIS Annual Report
2. The Corporate Governance Committee functions as the Nomination/Remuneration Committee
3. Board Committees as of 14 March 2017
4. Board Committees as of 18 October 2017
5. Board Committees as of 27 February 2018
6. Board Committees as of 11 September 2018
15. Did the Nomination and Compensation / Remuneration Committee meet at least twice during the year?   Meetings of the Corporate Governance Committee:
2017
2018
16. If yes, is the report of the Nomination and Compensation / Remuneration Committee publicly disclosed?   1. 2018 GSIS Annual Report
2. 2018 Corporate Governance Committee Report
17. Does the Board appoint an Audit Committee?   1.2018 GSIS Annual Report
2.Board Committees as of 14 March 2017
3.Board Committees as of 18 October 2017
4.Board Committees as of 27 February 2018
5.Board Committees as of 11 September 2018
18. If yes, is the report of the Audit Committee publicly disclosed?   1. 2018 GSIS Annual Report
2. 2018 Audit Committee Report
19. Does at least one member of the Audit Committee have an audit, accounting or finance background (qualification or experience)?   1.2018 GSIS Annual Report(Profile of Trustee Jocelyn De Guzman Cabreza)
2.Board Committees as of 14 March 2017
3.Board Committees as of 18 October 2017
4.Board Committees as of 27 February 2018
5.Board Committees as of 11 September 2018
20. Did the Audit Committee meet at least four times during the year?   Meetings of the Audit Committee:
*2017
*2018
21. Does the Board appoint a Risk Management Committee?   1.2018 GSIS Annual Report
2.Board Committees as of 14 March 2017
3.Board Committees as of 18 October 2017
4.Board Committees as of 27 February 2018
5.Board Committees as of 11 September 2018
22. If yes, is the report of the Risk Management Committee publicly disclosed?   1. 2018 GSIS Annual Report
2. 2018 Risk Oversight Committee Report
23. Does at least one member of the Risk Management Committee have a background in finance and investments?   1.2018 GSIS Annual Report(Profile of Trustee Wilfredo C. Maldia
2.
Board Committees as of 14 March 2017
3.
Board Committees as of 18 October 2017
4.
Board Committees as of 27 February 2018
5.Board Committees as of 11 September 2018
24. Board meetings and attendance
  a. Are the Board of Directors meetings scheduled at the beginning of the year? (end of Q1)   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?   Board Attendance
*2017
*2018
  c. Did the Board of Directors meet on at least 75% on their scheduled meetings?   Meetings Held
*2017
*2018
  d. Has each of the directors/commissioners attended at least 90% of all the Board meetings held during the year?   Board Attendance
*2017
*2018
  e. Did the Board of Directors meet separately at least once during the year without the President/CEO present?   PGM Aranas was asked by the Board to leave their meeting several times during the Strategic Planning Seminar Workshop held on 14 August 2018 and 29 August 2018, for the specific purpose of evaluating his performance as President and General Manager.
25. Access to information
  a. Does the GOCC have a policy that stipulates board papers for Board of Directors/Comissioners   Revised GSIS Board Protocols, pp.23-24(ACCESS TO INFORMATION)
  b. Is the Board Secretary trained in legal, accountancy or company secretarial practices?   Corporate Secretary’s profile
26. Internal Audit
  a. Does the company have a separate internal audit function?   1. 2018 GSIS Annual Report(VP Juliet Bautista)
2. Revised GSIS Manual of Corporate Governance, pp8,15(INTERNAL AUDIT OR INTERNAL CONTROLS)
3. Audit Committee Charter
  b. Does the appointment and removal of the internal auditor require the approval of the Audit Committee?   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?   1. Risk Management Program
2. Revised GSIS Manual of Corporate Governance, pp.8,15,30 (INTERNAL AUDIT OR INTERNAL CONTROLS
3. Revised GSIS Manual of Corporate Governance, pp.7,8,15,18,29 (RISK MANAGEMENT SYSTEM)
4.2017 GSIS Annual Report, pp.48-53,69-70
5.
2018 GSIS Annual Report
  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?   2018 GSIS Annual Report
*Risk Oversight Committee Report
*Audit Committee Report
  c. Does the company disclose how key risks are managed?   1. Risk Management Program
2. Risk Oversight Committee Charter
3. Revised GSIS Manual of Corporate Governance, pp.7,8,15,18,29
4. 2017 Annual Report, pp.48-53;69-70
5. 2018 Annual Report
  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?   1.2018 GSIS Annual Report
2.2018 Audit Committee Report
28. Board Chairman
    Do different persons assume the roles of Chairman and CEO?   2018 GSIS Annual Report

January 2018 to August 7, 2018
*Chairman(in acting capacity – Wilfredo C. Maldia
*President and General Manager (CEO)- Jesus Clint O. Aranas

August 7, 2018- December 2018
*Chairman – Rolando L. Macasaet
*President and General Manager – Jesus Clint O. Aranas

29. Board Directors
  a. Does the GOCC have orientation programmes for new Directors?   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?   Revised GSIS Manual of Corporate Governance, p30(CONTINUING EDUCATION)
  c. Did all Appointive Directors attend at least 1 training for the calendar year?     2018 GSIS Annual Report
30. Board appraisal
  a. Is an annual performance assessment conducted for the Board of Directors?   Revised GSIS Manual of Corporate Governance
  b. Does the GOCC disclose the process followed in conducting the Board assessment?   The members of the GSIS Board of Trustees rate themselves on a scale of 1-10, with ’10’ being the highest. There is a column where each Trustee shall rate his/her own performance. In another column, each Trustee shall rate the performance of his/her peers.
There are also factors to be considered in rating one’s performance. The effect of these factors on one’s performance is rated on a scale of 1-5, with ‘5’ being the highest.
  c. Does the GOCC disclose the criteria used in the Board assessment?   The criteria used include:
1. Formulation of Policies
2. Attendance and Active Participation in Meetings
3. Fairness of Judgment
4. Careful Evaluation of Proposals and Recommendations
31. Committee Appraisal
  a. Is an annual performance assessment conducted for the Board of Directors Committees?   2018 GSIS Annual Report
1. 2018 Corporate Governance Committee Report
2. 2018 Risk Oversight Committee Report
3. 2018 Audit Committee Report
4. 2018 Legal Oversight Committee Report
 
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?
  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?   2018 Annual Report
Board Affiliations

 
  2. Is there non-compliance with Good Governance Conditions?