|I. STAKEHOLDER RELATIONSHIPS|
|1. Does the GOCC disclose a policy that:|
|a. Stipulates the existence and scope of its effort to address customers welfare?||
a. Pag-IBIG Fund treats its customers and stakeholders in high regard. The Fund provides policies that mandate its commitment to address customer welfare, community interaction and the promotion of sustainable development and environment-friendly activities among its partners, suppliers and members.
The Fund’s Quality Policy is a statement of commitment to provide member-focused quality service.
In adherence to RA 10173 An Information Security Policy Statement also provides guidelines on how the Fund maintains, protects and discloses its information assets particularly pertaining to its members
The Fund has also put in place a Customer Feedback Management process that establishes an efficient way for the Pag-IBIG members and clients to evaluate the service provided to them.
The Fund also adheres to its Citizen’s Charter, as required by RA 9485 (Anti-Red Tape Act of 2007), using it as a guidebook in performing our frontline services.
In addressing its customers’ welfare, Pag-IBIG Fund adheres to relevant laws and regulations issued by the national government and policy-making bodies:
Pag-IBIG Fund adheres to a policy addressing customer welfare in accordance with relevant laws and regulations such as :
|b. Elaborates its efforts to interact with the communities in which they operate?||b. Corporate Social Responsibility - Policy that elaborates Pag-IBIG Fund’s interaction with the communities in which it operate.|
|c. Ensure that its value chain is environmentally friendly or is consistent with promoting sustiainable development?||c. Pag-IBIG Fund implements policy that promotes environment protection and sustainable development.|
|2. Does the GOCC disclose the activities that it has undertaken to implement the above-mentioned policies?|
|a. Customer health and safety||a. Pag-IBIG branches have special lanes for PWDs and Senior Citizens, and have allocated special areas and nooks for breastfeeding mothers and their babies.|
|b. Interaction with the communities||
b. In compliance with its policy of interacting and engaging with its communities and stakeholders, the Pag-IBIG Fund promotes programs, activities and projects that involve its members, especially in areas where it operates. Pag-IBIG also actively endeavors to clarify the issues and concerns that it is challenged with.
The News and Events section of the website documents these activities for the public’s information and easy access.
The Pag-IBIG Fund YouTube Channel also features videos that provide information and clarification on issues faced by Pag-IBIG in 2015.
The CEO’s Corner portion of the website provides details on the various activities and events attended by Pag-IBIG CEO Darlene Marie B. Berberabe, which shows how personal and hands-on the CEO is in dealing with the stakeholders.
The Pag-IBIG Fund Facebook Page publishes its “Alam Mo Ba?” infographic twice a month, to give its Facebook users snippets of info about its products and services. The “Alam Mo Ba?” feature of the Pag-IBIG Facebook Page reached an average of 480,000 people, received an average of 11,000 likes, and shared an average of 2,600 times per month.
|c. Environmentally-friendly value chain||c. Pag-IBIG Fund takes care of the environment through tree-planting activities and expansion of housing loan program to include the purchase and installation of solar panels.|
|3. Does the GOCC have a separate corporate social responsibility (CSR) report/section or sustainability report/section?|
|Pag-IBIG Fund sponsors an annual mass wedding for its less-privileged members since 2011. Pag-IBIG also extends assistance to calamity stricken localities.|
|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 (e.g. customers, suppliers, general public, etc.) can use to voice their concerns and/or complaints for possible violation of their rights?||
Customer Feedback Contact Details
|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?||a. The Fund has been consistent in the dissemination of information about health and wellness of employees through the portal platform. Likewise, to ensure the safety of the employees, the Fund regularly issues email advisory on measures necessary for the protection of employees, e.g., flu outbreak, severe acute respiratory syndrome (SARS) or during calamities.|
|b. Does the GOCC publish data relating to health, safety and welfare of its employees?||b. On a regular basis, we feature health advisories on common diseases and conditions, and other health-related topics for our employees' reference.|
|c. Does the GOCC have training and development programmes for its employees?||c. The Fund has employed a competency-based approach to learning and development of its employees. The program aims to generate the requisite knowledge, skills and attributes per job family to help employees remain effective in their duties and responsibilities and establish a capacity enhancement blueprint for Fund officers and employees.|
|d. Does the GOCC publish data on training and development programs for its employees?||d. The Fund publish data on training and development through posting in the portal.|
|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?
a. Does the GOCC have procedures to protect an employee/person reveals illegal/unethical behavior from retaliation?
The Fund has a Grievance Machinery, a venue to lodge complaint by employees against the supervisors or co-employees. It is intended to simplify, speed up and install an effective, expeditious, fair, equitable and just grievance machinery in order to create an atmosphere conducive to good employee-supervisor relationship and boost employee's morale.
|II. DISCLOSURE AND TRANSPARENCY|
|Questionnaire||Compliance||7. Quality of Annual Report
Does the GOCC's annual report disclose the following items:
|7. Pag-IBIG Fund Annual Report 2015|
|a. Corporate objectives||a. Pag-IBIG Corporate Objectives (Annual Report 2015 p.3)|
|b. Financial performance indicators||b. Financial performance indicators (Annual Report 2015 from p.5)|
|c. Non-financial performance indicators||c. Non-financial performance indicators - Accomplishments and Performances (Annual Report 2015 p.10)|
|d. Details of whistle-blowing policy||d. Pag-IBIG Whistle-blowing Policy (Annual Report 2015 p.3)|
|e. Biographical details (at least age, qualifications, date Reportof first appointment, relevant experience, and any other directorships of listed companies) of directors/commissioners||e. Pag-IBIG Board of Directors and Commissioners Profile (Annual Report 2015 p.26)|
|f. Training and/or continuing education programme attended by each director/commissioner||f. Training and/or continuing education programme attended by each director/commissioner|
|8. Are the Annual Reports downloadable from the GOCC's website?||8. Pag-IBIG Fund Annual Report 2015|
|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, identity and explain reasons for each such issue?||Pag-IBIG Fund has fully complied with the broad principles of the Fund’s Manual of Corporate Governance|
|10. Timely filing/release of annual/financial reports|
|a. Are the audited annual financial report/statement released within 60 days upon receipt from COA?||
a. Latest Audited Financial Statement 2015 (Received from COA 18 July 2016, uploaded 19 July 2016)
|b. ls the annual report released within 90 days from release of audited financial report?||
b. Pag-IBIG Fund Annual Report 2015 (Posted on September 15, 2016, 59 days after release of audited financial report).
|c. ls 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?||
c. Statement of Managements Responsibility for Financial Statement
|III. RESPONSIBILITIES OF THE BOARD|
|11. Corporate Vision/Mission|
|a. Has the Board of Directors reviewed the vision and mission/strategy in the last financial year?||a. The Pag-IBIG Board of Trustees has reviewed the Fund’s vision and mission / strategy during the deliberations on the 2016-2020 Corporate Plans and Targets 309th Board Meeting on 30 July 2015.|
|b. Does the Board of Directors monitor/oversee the implementation of the corporate strategy?||b. The Board of Directors monitors/oversee the implementation of the corporate strategy as found on page 5 of the Manual of Corporate Governance.|
|12. Did the GOCC achieve 90% in the PES?||12. Pag-IBIG Fund achieved 95.034% in the PES.|
|13. Code of ethics or conduct|
|a. Are the details of the code of ethics or conduct disclosed?||a. The ethics and conduct of Pag-IBIG Fund officials and employees are governed by RA 3019, RA 6713, among others|
|b. Does the GOCC disclose that all Directors/Commissioners, senior management and employees are required to comply with the code?||b. Memo of the CEO on the strict observance of the provisions of RA3019 and RA6713, HDMF Manual of Corporate Governance and other relevant laws and regulations.|
|c. Does the company disclose how it implements and monitors compliance with the code of ethics or conduct?||c.|
|14. Does the Board appoint a Nomination and Compensation / Remuneration Committee?||14. 2015 Committee Membership of the HDMF Board of Trustees|
|15. Did the Nomination and Compensation/Remuneration Committee meet at least twice during the year?||15. 8 meetings in 2015|
|16. If yes, is the report of the Nomination and Compensation/Remuneration Committee publicly disclosed?||16. Yes|
|17. Does the Board appoint an Audit Committee?||17. 2015 Committee Membership of the HDMF Board of Trustees|
|18. lf yes, is the report of the Audit Committee publicly disclosed?||18. Yes|
|19. Does at least one member of the Audit Committee have an audit, accounting or finance background (qualification or experience)?||
19. Board Audit Committee Chairman Trustee Raul B. De Mesa graduated in college with a degree in Business Administration a post-graduate program for strategic business economics. His expertise includes commercial and investment banking.
Audit Committee Vice Chairman Trustee Edgardo G. Lacson finished a degree in BS Commerce, Major in Accounting and has worked professionally in various corporations, including the Philippine Stock Exchange where he was a Director.
|20. Did the Audit Committee meet at least four times during the year?||20. 11 meetings in 2015|
|21. Does the Board appoint a Risk Management Committee?||21. 2015 Committee Membership of the HDMF Board of Trustees|
|22. If yes, is the report on Risk Management Committee publicly disclosed?||22. Yes|
|23. Does at least one member of the Risk Management Committee have a background in finance and investments?||
23. Investment Committee Chairman Trustee Raul B. De Mesa graduated in college with a degree in Business Administration a post-graduate program for strategic business economics. His expertise includes commercial and investment banking.
Committee Member Trustee Jesus Varela graduated with a bachelor's degree in Economics.
Committee Member Trustee Roberto B. Tan graduated with a bachelors and a masters degree in economics, as well as a masters degree in business administration. His expertise includes treasury management and international finance.
|24. Board meetings and attendance|
|a. Are the Board of Directors meetings scheduled at the beginning of the year? (end of Q1 )||a. The HDMF Board of Trustees approved during the 320th HDMF Board Meeting a fixed HDMF Monthly Board Meeting every 1st Thursday of the month.|
|b. Does the Board of Directors meet at least monthly?|
|c. Did the Board of Directors meet on at least 75% on their scheduled meetings?|
|d. Has each of the directors/commissioners attended at least 90% of all the board meetings held during the year?|
|e. Did the Board of Directors meet separately at least once during the year without the President/CEO present?|
|25. Access to information|
|a. Does the GOCC have a policy that stipulates board papers for Board of Directors/Commissioners meetings be provided to the Board at least three (3) working days in advance of the board meeting?||a. It is the policy of Pag-IBIG Fund to provide Board materials at least 7 days before Board meeting.|
|b. Is the Board Secretary trained in legal, accountancy or company secretarial Practices?||b. The Board Secretary is a lawyer in the person of Atty. Orlando Polinar.|
|26. Internal Audit|
|a. Are the Board of Directors meetings scheduled at the beginning of the year? (end of Q1 )||Pag-IBIG Fund has an Internal Audit Office under Ms. Nelin P. Paraiso is the Pag-IBIG Fund Internal Auditor.|
|b. Does the appointment and removal of the internal auditor require the approval of the Audit Committee?|
|27. Risk Oversight|
|a. Does the company disclose the internal control procedures/risk management systems it has in place?||a. Pag-IBIG Risk Management System|
|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?||b. Yes. The Annual Report provides information on the Fund’s Risk Oversight and Policy Efforts in adherence to the Charter of the Board Risk and Capital Committee|
|c. Does the company disclose how key risks are managed?||c. Financial Risk Management|
|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?||d. The Annual Report provides information on the Fund’s Risk Management Initiatives through the Risk management Structure instituted by the Board|
|28. Do different persons assume the roles of Chairman and CEO?||28. Hon. VP Jejomar C. Binay is the Chairman of the Board and Atty. Darlene Marie B. Berberabe is the Chief Executive Officer.|
|29. Board of Directors Development|
|a. Does the GOCC have orientation programmes for new Directors?||a. Orientation Program for new Directors|
|b. Does the GOCC have a policy that encourages Directors/Commissioners to attend ongoing or continuous professional education programmes?||b. BGC Charter on orientation program for Directors|
|c. Did all Appointive Directors attend at least 1 training for the calendar year?||c. Trainings Attended by the Members of the Board|
|30. Board Appraisal|
|a. Is an annual performance assessment conducted of the Board of Directors?||a. The performance of the Board of Trustees is evaluated annually by the GCG in accordance with Memorandum Circular No. 2014-03.|
|b. Does the GOCC disclose the process followed in conducting the Board assessment?||b. The process followed in the assessment of Board performance is as provided in Section 3 of Memorandum Circular No. 2014-03.|
|c. Does the GOCC disclose the criteria used in the Board assessment?||c. The criteria used in the performance assessment is as provided in Self-Appraisal and Peer-Appraisal forms.|
|31. Committee Appraisall|
|a. Is an annual performance assessment conducted of the Board of Directors Committees?|
|1. Does the GOCC practice Global Reporting lndex (GRl) on its annual reports?||DISCLOSURE AND TRANSPARENCY|
|2. Quality of Annual Report
||2. Latest Audited Financial Statement 2015 Received from COA 18 July 2016, uploaded 19 July 2016)|
|Questionnaire||Compliance||RESPONSIBILITIES OF THE BOARD|
|1. Are there members of the Board of Directors who hold more than five (5) positions in GOCCs and PLCs?||1. No BOD member holding more than 5 positions in GOCCs and PLCs was disclosed|
|2. ls there non-compliance with Good Governance Conditions?||2. No condition was marked as non-compliant|