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Untitled Document
 
COMPLIANCE WITH CGS EVALUATION FOR CY 2018 COMPLIANCE WITH CGS EVALUATIONFOR CY 2017

 

SSS CORPORATE GOVERNANCE SCORECARD
COMPLIANCE WITH CGS EVALUATIONFOR CY 2018

Standard SSS Compliance/Link (See also Transparency Seal link in the SSS Website)
1. GOCC Policy  
a. Existence and scope to address customer's welfare

Sec. 31 to 40, Manual of Corporate Governance, page 17-19

2018 Accomplishment Report of the Social Security Commission

b. Elaborates efforts to interact with the communities

Sec. 32 (par. 4), Manual of Corporate Governance, page 18

c. Ensures that its value chain is environmentally friendly or is consistent with promoting sustainable development

Sec. 32 (par. 5), Manual of Corporate Governance, page 18

2. GOCC Activities to implement the abovementioned policies  
a. Customer health and safety Statement on Customers and Employees' Welfare
b. Interaction with the communities Statement on Customers and Employees' Welfare
c. Environmentally-friendly value chain Statement on Environmentally-friendly Value Chain
3. Separate Corporate Social Responsibility (CSR) report/section or sustainability report/section CSR/Sustainability Section
4. 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 Contact details
5. Performance-enhancing mechanisms for employee participation
a. Mentions health, safety and welfare policy for its employees Statement on Customers and Employees' Welfare
b. Publishes data relating to health, safety and welfare of its employees Statement on Customers and Employees' Welfare
c. Provides training and development programmes for its employees Statement on Customers and Employees' Welfare

2018 Accomplishment Report of the Social Security Commission
d. Publishes training and development programmes for its employees

Statement on Customers and Employees' Welfare

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. Procedures for complaints by employees concerning illegal (including corruption) and unethical behavior SSS Whistleblowing Policy
b. Procedures to protect an employee/person who reveals illegal/ unethical behavior from retaliation SSS Whistleblowing Policy
7. Quality of Annual Report (Note: 2018 Annual Report to be released upon receipt of the audited Financial Statement from COA.)
a. Corporate objectives SSS Facts and Figures (As of December 2018)
b. Financial performance indicators SSS Facts and Figures (As of December 2018)
c. Non-financial performance indicators SSS Facts and Figures (As of December 2018)
d. Details of whistle-blowing policy SSS 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

SSC Biographical Data

SSC Relevant Experience

Directorship in Investee Corporations

f. Training and/or continuing education programme attended by each director/commissioner

2018 SSC Training

8. Annual reports downloadable from the GOCC's website SSS Annual Reports (2008-2017)
9. Annual Report contains a statement confirming the company's full compliance with the code of corporate governance and where there is non-compliance, identifies and explains the reasons thereof

2018 Full Compliance with the Code of Corporate Governance

2018 GOCC Leadership Management System (GLMS) Compliance Status

10. Timely filing/release of annual/financial reports
a. Audited annual financial report/statement released within 60 days upon receipt from COA Financial Statement for COA Opinion.
b. Annual report released within 90 days from release of audited financial report For publication of the Annual Report
c. 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 Financial Statement for COA Opinion.
11. Corporate Vision and Mission/Strategy
a. Board of Directors reviewing the vision and mission/ strategy in the last financial year

SSS Mission and Vision/Strategy

b. Board of Directors monitoring/overseeing the implementation of the corporate strategy

SSS Mission and Vision/Strategy

SSC Resolutions on Monitoring the Implementation of Corporate Strategy

2018 Accomplishment of the Social Security Commission
(document same as 1.a.)

12. Performance Evaluation System (PES)
a. GOCC achieving 90% in the PES GCG's approval extending the deadline to submit the 2018 PES documents
13. Code of ethics or conduct
a. Details of the code of ethics or conduct

Code of Ethics

Revised Rules on Administrative Cases in the Civil Service

2017 Rules on Administrative Cases in the Civil Service

b. All Directors/Commissioners, senior management and employees are required to comply with the code

Code of Ethics
(particularly Secs. 4 & 6)

Revised Rules on Administrative Cases in Civil Service

2017 Rules on Administrative Cases in the Civil Service

c. Disclosure on how SSS implements and monitors compliance with the code of ethics or conduct

Code of Ethics

Revised Rules on Administrative Cases in Civil Service

Nomination Compensation/Remuneration Committee
14. Appointment of Nomination Compensation/ Remuneration Committee

Pages 11 to 12 of the Manual of Corporate Governance (Committee on Governance, Organization and Appointments)

Committees of the SS Commission and their Activities/Duties and Responsibilities
15. Nomination Compensation/Remuneration Committee meetings

2018 Attendance of the SS Commission Members in SSC Board and Committee Meetings

16. Report of the Nomination Compensation/Remuneration Committee publicly disclosed

2018 Accomplishment Report of the Committee on Governance, Organization and Appointments

Audit Committee
17. Appointment of an Audit Committee

Pages 11 to 12, Manual of Corporate Governance

Committees of the SS Commission and their Activities/Duties and Responsibilities

18. Report of the Audit Committee publicly disclosed

2018 Accomplishment Report of the Audit Committee

19. At least one member of the Audit Committee has an audit, accounting or finance background (qualification or experience)

Commissioner Anita Bumpus-Quitain
Chairperson Aurora Cruz Ignacio
Commissioner Arthur L. Amansec
Commissioner Gonzalo T. Duque
Commissioner Diana Pardo Aguilar
Commissioner Ricardo L. Moldez

20 Audit Committee meetings

2018 Attendance of the SS Commission Members in SSC Board and Committee Meetings

Risk Management Committee
21. Appointment of Risk Management Committee

Pages 12 to 13, Manual of Corporate Governance

Committees of the SS Commission and their Activities/Duties and Responsibilities

22. Report on Risk Management Committee publicly disclosed

2018 Accomplishment Report of the Risk Management Committee

23. At least one member of the Risk Management Committee has a background in finance and investments

Commissioner Michael G. Regino
Chairperson Aurora Cruz Ignacio
PCEO Emmanuel F. Dooc
Commissioner Diana Pardo Aguilar
Commissioner Anita Bumpus-Quitain
Commissioner Gonzalo T. Duque
Commissioner Ricardo L. Moldez

24. Board meetings and attendance

 

a. Board of Directors meetings scheduled at the beginning of the year

2018 Board Meetings

b. Meetings of the Board of Directors

2018 Attendance of the SS Commission Members in SSC Board and Committee Meetings

c. Board of Directors meet at least 75% on their scheduled meetings

2018 Attendance of the SS Commission Members in SSC Board and Committee Meetings

d. Each of the directors/commissioners attended at least 90% of all the board meetings held during the year 2018 Attendance of the SS Commission Members in SSC Board and Committee Meetings
e. Board of Directors meeting separately at least once during the year without the President/CEO present

2018 Board Meetings

25. Access to information  
a. 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 Sec. 9, Manual of Corporate Governance, page 6.
b. Board Secretary Board Secretary Resume
26. Internal Audit  
a. Separate internal audit function

Definition of Internal Audit Service (IAS) in the SSS Manual of Corporate Governance, page 3.

SSS Organizational Structure

b. Appointment and removal of the internal auditor requires the approval of the Audit Committee 4.2.3 SSS Audit Charter, page 3
27. Risk Oversight  
a. Disclosure in the internal control procedures/risk management systems in place 2018 Risk Oversight

2018 Internal Controls

b. Annual Report disclosure 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

2018 Risk Oversight

c. Disclosure how key risks are managed

2018 Risk Oversight

d. Annual Report containing a statement from the Board of Directors or Audit Committee commenting on the adequacy of the GOCC's internal controls/risk management systems

2018 Risk Oversight

28. Board Chairman and CEO  
a. Do different persons assume the roles of Chairman and CEO?

Sec. 15, Manual of Corporate Governance, p. 8.

29. Orientation Program and Continuous Professional Education Program
a. Orientation programs for new Directors

Orientation Program

b. Policy that encourages Directors/Commissioners to attend on-going or continuous professional education programs Sec. 15, Manual of Corporate Governance, p. 8.
c. Appointive Directors attending at least 1 training for the calendar year

2018 SSC Training

30. Board Appraisal  
a. Annual performance assessment conducted of the Board of Directors

Annual Board and Committee Assessment

Directors Performance Review Dashboard

b. Disclosure on the process followed in conducting the Board assessment Annual Board and Committee Assessment
c. Disclosure on the criteria used in the Board assessment Annual Board and Committee Assessment
31. Committee Appraisal  
a. Annual performance assessment conducted of the Board of Directors Committees

Annual Board and Committee Assessment

Directors Performance Assessment in Committees

BONUS
1. Stakeholder Relationships.  
  Does the GOCC practice Global Reporting Index (GRI) on its annual reports?  
2. Disclosure and Transparency. Quality of the Annual Report.  
  Is the audited annual financial report/statement released within 30 days upon receipt from COA?  
Note: All other information on corporate governance can be linked to the items in the SSS Transparency Seal.