Republic of the Philippines Social Security System

Untitled Document

Compliance with CGS Evaluation for CY 2019 | Compliance with CGS Evaluation for CY 2020

SSS CORPORATE GOVERNANCE SCORECARD
COMPLIANCE WITH CGS EVALUATION FOR CY 2019

	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. 34, Manual of Corporate Governance, p. 20.
b.	Elaborates efforts to interact with the communities	Sec. 32 (par. 4), Manual of Corporate Governance, p. 19.
c.	Ensures that its value chain is environmentally friendly or is consistent with promoting sustainable development	Sec. 32 (par. 5), Manual of Corporate Governance, p. 20
2.	GOCC Activities to implement the abovementioned policies
a.	Customer health and safety	Statement on Customer's Welfare
b.	Interaction with the communities	Statement on Customer's Welfare
c.	Environmentally-friendly value chain	Environmentally-friendly value chain
3.	Separate Corporate Social Responsibility (CSR) report/section or sustainability report/section	SSS and Corporate Social Responsibility
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 Customer's Welfare
b.	Publishes data relating to health, safety and welfare of its employees	Statement on Customer's Welfare
c.	Provides training and development programmes for its employees	Statement on Customer's Welfare
d.	Publishes training and development programmes for its employees	Statement on Customer's 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	The Annual Report is not yet available.
a.	Corporate objectives	SSS Facts and Figures as of December 2019
b.	Financial performance indicators	SSS Facts and Figures as of December 2019
c.	Non-financial performance indicators	SSS Facts and Figures as of December 2019
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	Comm. Anita Bumpus Quitain Comm. Diana Pardo Aguilar PCEO Aurora Cruz Ignacio Chairperson Carlos G. Dominguez Comm. Bai Norhata Mahatbar Alonto Comm. Manuel L. Argel, Jr. Comm. Michael G. Regino Comm. Ricardo L. Moldez Secretary Silvestre H. Bello, III
f.	Training and/or continuing education programme attended by each director/commissioner	SSC Training in 2019
8.	Annual reports downloadable from the GOCC's website	The Annual Report is not yet available.
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	Final Statement of Full Compliance The Annual Report to be released shall contain the write-up in the above link.
10.	Timely filing/release of annual/financial reports
a.	Audited annual financial report/statement released within 60 days upon receipt from COA	2019 Financial Statements (Received: Sept. 30, 2020; Posted Oct. 13, 2020)
b.	Annual report released within 90 days from release of audited financial report	2019 Annual Report not yet available. 2019 Audited FS received Sept. 30, 2020
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	Statement of Management Responsibility
11.	Corporate Vision and Mission/Strategy
a.	Board of Directors reviewing the vision and mission/ strategy in the last financial year	SSS Mission - Vision and Corporate Strategy
b.	Board of Directors monitoring/overseeing the implementation of the corporate strategy	SSS Mission - Vision and Corporate Strategy
12.	Performance Evaluation System (PES)
a.	GOCC achieving 90% in the PES	GCG Letter dated 30 July 2020 addressed to SSS PCEO on its approval of the extension to submit the 2019 Interim PES Form
13.	Code of ethics or conduct
a.	Details of the code of ethics or conduct	Code of Ethics Revised Rules on Administrative Cases in Civil Service 2017 Revised Rules on Administrative Cases in 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 Revised Rules on Administrative Cases in 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 2017 Revised Rules on Administrative Cases in Civil Service
Nomination Compensation/Remuneration Committee
14.	Appointment of Nomination Compensation/ Remuneration Committee	Sec. 16(1), Manual of Corporate Governance, pp. 11 to 12 (Executive Committee) Committees of the SSCommission and their Duties and Responsibilities
15.	Nomination Compensation/Remuneration Committee meetings	2019 Attendance Record of Directors in Board and Committee Meetings
16.	Report of the Nomination Compensation/Remuneration Committee publicly disclosed	2019 Accomplishment Report of the Executive Committee
Audit Committee
17.	Appointment of an Audit Committee	Sec. 16 (4), Manual of Corporate Governance, pp. 14 to 15 Committees of the SSCommission and their Activities, Duties and Responsibilities
18.	Report of the Audit Committee publicly disclosed	2019 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)	Comm. Anita Bumpus Quitain Comm. Diana Pardo Aguilar Comm. Ricardo L. Moldez
20	Audit Committee meetings	2019 Attendance Record of Directors in Board and Committee Meetings
Risk Management Committee
21.	Appointment of Risk Management Committee	Sec. 16 (2), Manual of Corporate Governance, pp. 12 to 13 (Risk Management and Investments Committee) Committees of the SSCommission and their Activities, Duties and Responsibilities
22.	Report on Risk Management Committee publicly disclosed	2019 Accomplishments of the Risk Management and Investments Committee
23.	At least one member of the Risk Management Committee has a background in finance and investments	Comm. Diana Pardo Aguilar PCEO Aurora Cruz Ignacio Comm. Michael G. Regino
24.	Board meetings and attendance
a.	Board of Directors meetings scheduled at the beginning of the year	Sec. 9, Manual of Corporate Governance, p. 7. 2019 Attendance Record of Directors in Board and Committee Meetings Board of Directors Meeting scheduled at the beginning of the year
b.	Meetings of the Board of Directors	2019 Attendance Record of Directors in Board and Committee Meetings
c.	Board of Directors meet at least 75% on their scheduled meetings	2019 Attendance Record of Directors in Board and Committee Meetings
d.	Each of the directors/commissioners attended at least 90% of all the board meetings held during the year	2019 Attendance Record of Directors in Board and Committee Meetings
e.	Board of Directors meeting separately at least once during the year without the President/CEO present	2019 Attendance Record of Directors in Board and Committee Meetings Board of Directors Meeting scheduled separately at least once during the year without the President/CEO present
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, p. 7.
b.	Board Secretary	Sec. 15.3, Manual of Corporate Governance, pp. 9 to 10. Board Secretary Resume
26.	Internal Audit
a.	Separate internal audit function	Definition of Internal Audit Service (IAS) in the Manual of Corporate Governance, p. 3 Internal Audit Service
b.	Appointment and removal of the internal auditor requires the approval of the Audit Committee	4.2.3 Audit Charter, p. 3.
27.	Risk Oversight
a.	Disclosure in the internal control procedures/risk management systems in place	SSS Risk Oversight SSS 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	SSS Risk Oversight SSS Internal Controls The Annual Report to be released shall contain the write-up in the above link.
c.	Disclosure how key risks are managed	SSS 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	SSS Risk Oversight SSS Internal Controls
28.	Board Chairman and CEO
a.	Do different persons assume the roles of Chairman and CEO?	Sec. 15.2, Manual of Corporate Governance, p. 9.
29.	Orientation Program and Continuous Professional Education Program
a.	Orientation programs for new Directors	Orientation Programs for New Members
b.	Policy that encourages Directors/Commissioners to attend on-going or continuous professional education programs	Sec. 27, Manual of Corporate Governance, pp. 17 to 18 (Approved under SSC Resolution No. 138 dated 24 February 2016) Manual of Corporate Governance was adopted and approved by the Social Security Commission under Resolution No. 898 issued on 27 November 2013, as amended under Resolutions Nos. 597 dated 02 July 2014, 339 dated 29 April 2015, 138 dated 24 February 2016, 322 dated 18 May 2016, 387 dated 22 May 2017,128 dated 12 February 2019, 352 dated 22 May 2019, 353 dated 22 May 2019, and 254 dated 19 May 2020. SSC Training in 2019
c.	Appointive Directors attending at least 1 training for the calendar year	SSC Training in 2019
30.	Board Appraisal
a.	Annual performance assessment conducted of the Board of Directors	Sec. 18, Manual of Corporate Governance, p. 15. Annual Board and Committee Assessment
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
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.