Untitled Document
 


 Compliance with CGS Evaluation for CY 2021


 

SSS CORPORATE GOVERNANCE SCORECARD
COMPLIANCE WITH CGS EVALUATIONFOR CY 2021

Standard SSS Compliance/Link (See also Transparency Seal link in the SSS Website)
I. Corporate Governance A
1. GOCC Policy

 

a. Existence and scope to address customer's welfare

Secs. 31, 34, 37, 38, 39 and 40, Manual of Corporate Governance, pp. 20-23

b. Elaborates efforts to interact with the communities

Sec. 32 (par. 4), Manual of Corporate Governance, pp. 20-21

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. 21

2. GOCC Activities to implement the abovementioned policies  
a. Customer health and safety Customer health and safety
b. Interaction with the communities Interaction with the communities
c. Environmentally-friendly value chain Environmentally-friendly value chain
3. Separate Corporate Social Responsibility (CSR) report/section or sustainability report/section Corporate Social Responsibility
Corporate Social Responsibility (Certification)
Corporate Social Responsibility - Manual of Corporate Governance
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

uSSSapTayo
SSC and SSS Management Directory

5. Performance-enhancing mechanisms for employee participation
a. Mentions health, safety and welfare policy for its employees

Manual of Corporate Governance p. 20

Employees welfare

Manual of Corporate Governance, p. 20

Programs to promote employee relations, engagement, well-being and safety

Programs to promote employee relations, engagement, well-being and safety

Programs to promote employee relations, engagement, well-being and safety

Programs to promote employee relations, engagement, well-being and safety

Programs to promote employee relations, engagement, well-being and safety

Programs to promote employee relations, engagement, well-being and safety

Programs to promote employee relations, engagement, well-being and safety

b. Publishes data relating to health, safety and welfare of its employees

Publishes data-information on employee relations, engagement and welfare programs

Publishes data-information on employee relations, engagement and welfare programs

Publishes data-information on employee relations, engagement and welfare programs

Publishes data-information on employee relations, engagement and welfare programs

Publishes data-information on employee relations, engagement and welfare programs

c. Provides training and development programmes for its employees

2021 LDD Accomplishment Report

2021 Training Calendar

Training and Development Programs

The SSS has training and development programs for its
employees which are embodied in the following
issuances:

  1. HR Manual of Personnel Policies, Rules and
    Regulations (p.72-84)
  2. Office Order No. 2015-065 (SSS Succession
    Management Program)
  3. Office Order No. 2018-036 (Guidelines on
    Designations and Amended Rules on
    Reassignment and Additional Work
    Assignments)
d. Publishes training and development programmes for its employees

2021 LDD Accomplishment Report

Publishes data on training and development programs for employees

The SSS publishes data on training and development
programs for its employees through the following
channels:

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  
a. Corporate objectives Corporate Objectives
b. Financial performance indicators Financial and Non-Financial Measures
c. Non-financial performance indicators Financial and Non-Financial Measures
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 Chairperson Carlos G. Dominguez, III
PCEO Aurora C. Ignacio
Secretary Silvestre H. Bello III
Comm. Diana Pardo Aguilar
Comm. Anita Bumpus-Quitain
Comm. Michael G. Regino
Comm. Ricardo L. Moldez
Comm. Manuel L. Argel, Jr.
Comm. Bai Norhata M. Alonto
f. Training and/or continuing education programme attended by each director/commissioner SSC Training
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
11. Corporate Vision and Mission/Strategy
a. Board of Directors reviewing the vision and mission/ strategy in the last financial year Vision, Mission and Corporate Strategy
b. Board of Directors monitoring/overseeing the implementation of the corporate strategy Vision, Mission and Corporate Strategy
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

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

Revised Rules on Administrative Cases in Civil Service

Sec. 35, Manual of Corporate Governance, page 21

Revised Rules on Administrative Cases in Civil Service

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

Revised Rules on Administrative Cases in Civil Service

SSS Implementation and Monitoring of Compliance with the Code of Ethics or Conduct

AO 2020-008

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 - 12 (Executive Committee)

SSC Committees and their Activities, Duties and Responsibilities
15. Nomination Compensation/Remuneration Committee meetings Attendance Record Of The SSC Members
16. Report of the Nomination Compensation/Remuneration Committee publicly disclosed Accomplishment Report Executive Committee
Audit Committee
17. Appointment ofan Audit Committee Sec. 16(4), Manual of Corporate Governance, pp. 14-15

SSC Committees and their Activities, Duties and Responsibilities
18. Report of the Audit Committee publicly disclosed 2021 Audit Committee Accomplishment Report
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
Comm. Manuel L. Argel, Jr.
20 Audit Committee meetings Attendance Record Of The SSC Members
Risk Management Committee
21. Appointment of Risk Management Committee

SSC Committees and their Activities, Duties and Responsibilities

Sec. 16(2), Manual of Corporate Governance, pp. 12-13 (Risk Management and Investments Committee)

22. Report on Risk Management Committee publicly disclosed Accomplishment Report Risk Management and Investments Committee
23. At least one member of the Risk Management Committee has a background in finance and investments Comm. Bai Norhata M. Alonto
Comm. Diana Pardo Aguilar
Comm. Michael G. Regino
Comm. Manuel L. Argel, Jr.
PCEO Aurora C. Ignacio
24. Board meetings and attendance  
a. Board of Directors meetings scheduled at the beginning of the year

Sec. 9, Manual of Corporate Governance, pp. 7-8

Attendance Record Of The SSC Members

Meeting Scheduled at the Beginnign of the Year

b. Meetings of the Board of Directors Attendance Record Of The SSC Members
c. Board of Directors meet at least 75% on their scheduled meetings Attendance Record Of The SSC Members

SSC met at least 75% on the scheduled meetings
d. Each of the directors/commissioners attended at least 90% of all the board meetings held during the year Attendance Record Of The SSC Members
e. Board of Directors meeting separately at least once during the year without the President/CEO present Attendance Record Of The SSC Members
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 7
b. Board Secretary

Sec. 15.3, Manual of Corporate Governance, pp. 9-10

Board-Secretary-SVP-Santiago-Agdeppa-2021

26. Internal Audit  
a. Separate internal audit function

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

SSS Organizational Structure

b. Appointment and removal of the internal auditor requires the approval of the Audit Committee SSS Internal Audit Charter
27. Risk Oversight  
a. Disclosure in the internal control procedures/risk management systems in place Risk Management Systems in Place

Internal Control Procedures
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 Review of the Risk Management Systems

Review of the SSS Material Controls
c. Disclosure how key risks are managed How Key Risks Are Managed
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 Adequacy of the Risk Management Systems

SSC commenting on the adequacy of 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 Program for New Members of the SSC
b. Policy that encourages Directors/Commissioners to attend on-going or continuous professional education programs

Sec. 27, Manual of Corporate Governance, p. 18

SSC Training

On-going or Continuous Professional Education Programs

c. Appointive Directors attending at least 1 training for the calendar year SSC Training
30. Board Appraisal  
a. Annual performance assessment conducted of the Board of Directors Annual Performance Assessment
b. Disclosure on the process followed in conducting the Board assessment Process in Conducting Board Assessment
c. Disclosure on the criteria used in the Board assessment Criteria Used in Board Assessment
31. Committee Appraisal  
a. Annual performance assessment conducted of the Board of Directors Committees SSC Committee Performance Assessment
II. Corporate Governance Report B
8. Annual reports downloadable from the GOCC's website 2021 Annual Report downloadable from SSS Website
10. Timely filing/release of annual/financial reports
a. Audited annual financial report/statement released within 60 days upon receipt from COA 2021 Financial Statements (Received: June 30, 2022; Posted July 8, 2022)
b. Annual report released within 90 days from release of audited financial report 2021 Annual Report released within 90 days from released of audited financial 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 Annual Financial Statement Affirmed by the SSC
12. Performance Evaluation System (PES)
a. GOCC achieving 90% in the PES

Certification re SSS 2021 Performance Evaluation System

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? 2021 Financial Statements (Received: June 30, 2022; Posted July 8, 2022)

 

Note: All other information on corporate governance can be linked to the items in the SSS Transparency Seal.