Corporate Governance Scorecard

This NHMFC Corporate Governance Report features highlights, transparency and disclosures on material topics required on the Corporate Governance Scorecard for GOCCs.

The information contained herein covers reportorial requirements from January to December 2022.

This report has been prepared in adherence to the best practices and international standards of corporate governance and to serve as reference and guidance for validation of NHMFC Corporate Governance Scorecard 2022.

CY 2022CY 2021CY 2020CY 2019CY 2018CY 2017

Governance Scorecard 2022

1. Does the GOCC disclose a policy that:
QUESTION	YES	NO	REFERENCE
I. Stakeholder Relationships (15%)
Stipulates the existence and scope of its effort to address customer’s welfare?			Mission Vision Manual of Corporate Governance (page 18-21) NHMFC Quality Policy Statement
Elaborates its efforts to interact with the communities in which they operate?			Corporate Social Responsibility NHMFC Quality Policy Statement
Ensure that its value chain is environmentally friendly or is consistent with promoting sustainable development?			Corporate Social Responsibility
2. Does the GOCC disclose the activities that it has undertaken to implement the abovementioned policies?
Customer health and safety			Corporate Social Responsibility Major Programs, Projects and Activities
Interaction with the communities			Corporate Social Responsibility
Environmentally-friendly value chain			Corporate Social Responsibility
3. Does the GOCC have a separate Corporate Social Responsibility (CSR) report/section or sustainability report/section?			Corporate Social Responsibility
4. Where stakeholders 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?			Citizens Charter Contact details for complaints of other Stakeholders Corporate Governance Report 2022
5. Performance-enhancing mechanisms for employee participation should be permitted to develop.
Does the GOCC explicitly mention the health, safety and welfare policy for its employees?			Code of Ethics Health and Wellness Programs 2022 Corporate Governance Report 2022
Does the GOCC publish data relating to health, safety and welfare of its employees?			Health and Wellness Programs 2022 Corporate Governance Report 2022
Does the GOCC have training and development programmes for its employees?			List of Seminars/Trainings/Workshops 2022 Corporate Governance Report 2022
Does the GOCC publish data on training and development programs for its employees?			List of Seminars/Trainings/Workshops 2022 Corporate Governance Report 2022
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.
Does the GOCC have procedures for complaints by employees concerning illegal (including corruption) and unethical behavior?			Whistleblowing Policy, pages 6-8 Corporate Governance Report 2022
Does the GOCC have procedures to protect an employee/person who reveals illegal/unethical behavior from retaliation?			Whistleblowing Policy, pages 4-5 Corporate Governance Report 2022
II. Disclosure and Transparency (35%)
7. Quality of the Annual Report Does the GOCC’s AR disclose the following items:
Corporate Objectives			Corporate Governance Report 2022
Financial performance indicators			Corporate Governance Report 2022
Non-financial performance indicators			Corporate Governance Report 2022
Details of whistleblowing policy			Corporate Governance Report 2022 Whistleblowing Policy
Biographical details (directors)			Corporate Governance Report 2022
Trainings or continuing education (directors)			Corporate Governance Report 2022
8. Are the Annual Reports downloadable from the GOCC’s website?			Corporate Governance Report 2022
9. Corporate Governance Confirmation Statement
Does the AR contain a statement confirming the company’s full Corporate Governance 2022 and where there is non-compliance, identify and explain reasons for each such issue?			Corporate Governance Report 2022 Statement of Full Compliance
10. Timely filing/release of annual/financial reports
Are the audited annual financial report/statement released within 60 days upon receipt from COA?			Transparency Seal (Section VI. Annual Financial Reports) Audited Financial Statement CY 2022 Date Posted: 20 June 2023 Date of Receipt from COA: 16 June 2023
Is the Annual Report released within 90 days from the release of the audited financial report?
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?			Audited Financial Statement CY 2022
III. Responsibility of the Board (50%)
11. Corporate Vision/Mission
Has the Board of Directors reviewed the vision and mission/ strategy in the last financial year?			Corporate Governance Report 2022
Does the Board of Directors monitor/oversee the implementation of the corporate strategy?			Powers and Functions of the Board (page 3) Manual of Corporate Governance (page 5) Corporate Governance Report 2022
12. Did the GOCC achieve 90% in the PES?			NHMFC PES 2022
13. Code of ethics or conduct
Are the details of the code of ethics or conduct disclosed?			Code of Conduct Corporate Governance Report 2022
Does the GOCC disclose that all Directors/Commissioners, senior management and employees are required to comply with the code?			Code of Conduct Corporate Governance Report 2022
Does the company disclose how it implements and monitors compliance with the code of ethics or conduct?			Code of Conduct Corporate Governance Report 2022
14. Does the Board appoint a Nomination Compensation/Remuneration Committee?			Included in the functions of Corporate Governance Committee Manual of Corporate Governance
15. Did the Nomination Compensation/Remuneration Committee meet at least twice during the year?			Attendance Record of Directors in Board and Committee Meetings
16. If yes, is the report of the Nomination Compensation/Remuneration Committee publicly disclosed?			Not applicable
17. Does the Board appoint an Audit Committee?			Corporate Governance Report 2022 Audit Committee: Chairman: BSP Governor Felipe M. Medalla Represented by: N/A Members: DBM Secretary Amenah F. Pangandaman Represented by: 1. Atty. Leo Angelo M. Larcia 2. Cristina B. Clasara 3. Maria Grace M. De Los Santos DOF Secretary Benjamin E. Diokno Represented by: 1. Atty. Catherine L. Fong 2. Atty. Glenda R. Rumohr 3. Atty. Rene Raphael A. Guina
18. If yes, is the report of the Audit Committee publicly disclosed?			Information on Board Committees and their activities CY 2022
19. Does at least one member of the Audit Committee have an audit, accounting or finance background (qualification or experience)?			Hon. Amenah F. Pangandaman Hon. Felipe M. Medalla
20. Did the Audit Committee meet at least four times during the year?			Attendance Record of Directors in Board and Committee Meetings
21. Does the Board appoint a Risk Management Committee?			Corporate Governance Report 2022 Risk Management Committee: Chairman: Pres. Renato L. Tobias Represented by: N/A Members: DHSUD Secretary Jose Rizalino L. Acuzar Represented by: 1. Atty. Gary V. De Guzman 2. Atty. Sharon Faith S. Paquiz 3. Baby Catherine B. Cruz DBM Secretary Amenah F. Pangandaman Represented by: 1. Atty. Leo Angelo M. Larcia 2. Atty. Cristina B. Clasara 3. Cristina B. Clasara DF Secretary Benjamin E. Diokno Represented by: 1. Atty. Catherine L. Fong 2. Atty. Glenda R. Rumohr 3. Atty. Rene Raphael A. Guina
22. If yes, is the report on Risk Management Committee publicly disclosed?			Information on Board Committees and their activities CY 2022 Corporate Governance Report 2022
23. Does at least one member of the Risk Management Committee have a background in finance and investments?			Hon. Benjamin E. Diokno
24. Board meetings and attendance
Are the Board of Directors meetings scheduled at the beginning of the year? (end of Q1)			As a rule, Board meetings will be scheduled monthly subject to the availability of Board Members. Corporate Governance Report 2022 Approved Schedules of Board and Committee Meetings for CY 2022
Does the Board of Directors meet at least monthly?			Attendance Record of Directors in Board and Committee Meetings
Did the Board of Directors meet on at least 75% on their scheduled meetings?			Attendance Record of Directors in Board and Committee Meetings
Has each of the directors/commissioners attended at least 90% of all the board meetings held during the year?			Attendance Record of Directors in Board and Committee Meetings
Did the Board of Directors meet separately at least once during the year without the President/CEO present?			Corporate Governance Report 2022
25. Access to information
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?			Corporate Governance Report 2022
Is the Board Secretary trained in legal, accountancy or company secretarial practices?			Atty. Dante M. Patapat
26. Internal Audit
Does the company have a separate internal audit function?			Corporate Governance Report 2022
Does the appointment and removal of the internal auditor require the approval of the Audit Committee?			Manual of Corporate Governance (page 9)
27. Risk Oversight
Does the company disclose the internal control procedures/risk management systems it has in place?			Risk Management Policy
Does the Annual Report disclose 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?			Corporate Governance Report 2022
Does the company disclose how key risks are managed?			Risk Management Policy
Does the Annual Report disclose 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?			Corporate Governance Report 2022
28. Board Chairman
Do different persons assume the roles of Chairman and CEO?			The Chairman is DHSUD Chairperson Jose Rizalino L. Acuzar, while the Pres. & CEO is Renato L. Tobias
29. Board of Directors Development
Does the GOCC have orientation programmes for new Directors?			Corporate Governance Report 2022 The Office of the Corporate Secretary conducted orientation to new Directors and provided the Briefer materials on 14 October 2022. The Briefer contains the NHMFC’s mandate, major programs, projects, policies, and legal issues.
Does the GOCC have a policy that encourages Directors/Commissioners to attend on-going or continuous professional education programmes?			Manual of Corporate Governance (page 10) Corporate Governance Report 2022
Did all Appointive Directors attend at least 1 training for the calendar year?			Corporate Governance Report 2022 Renato L. Tobias is the only appointive among the directors.
30. Board Appraisal
Is an annual performance assessment conducted of the Board of Directors assessment?			Board and Committee Appraisal System Corporate Governance Report 2022
Does the GOCC disclose the process followed in conducting the Board?			Board Appraisal System Corporate Governance Report 2022
Does the GOCC disclose the criteria used in the Board assessment?			Board Appraisal System Corporate Governance Report 2022
31. Committee Appraisal
Is an annual performance assessment conducted of the Board of Directors Committees?			Board Appraisal System Corporate Governance Report 2022
BONUS
Stakeholder’s Relationship: Does the GOCC practice Global Reporting Index (GRI) on its annual reports?			GRI Sustainability Report
Disclosure and Transparency: Are the audited annual financial report/statement released within 30 days upon the receipt from COA?			Audited Financial Statement CY 2022 Date Posted: 20 June 2023 Date of Receipt from COA: 16 June 2023
PENALTY
Responsibilities of the Board
Are there members of the Board of Directors who hold more than five (5) positions in GOCCs and PLCs?			None
Is there non-compliance with Good Governance Conditions?			None

Governance Scorecard 2021

1. Does the GOCC disclose a policy that:
QUESTION	YES	NO	REFERENCE
I. Stakeholder Relationships (15%)
Stipulates the existence and scope of its effort to address customer’s welfare?			Mission Vision Manual of Corporate Governance (page 18-21) NHMFC Quality Policy Statement
Elaborates its efforts to interact with the communities in which they operate?			Corporate Social Responsibility NHMFC Quality Policy Statement
Ensure that its value chain is environmentally friendly or is consistent with promoting sustainable development?			Corporate Social Responsibility
2. Does the GOCC disclose the activities that it has undertaken to implement the abovementioned policies?
Customer health and safety			Corporate Social Responsibility Major Programs, Projects and Activities
Interaction with the communities			Corporate Social Responsibility
Environmentally-friendly value chain			Corporate Social Responsibility
3. Does the GOCC have a separate Corporate Social Responsibility (CSR) report/section or sustainability report/section?			Corporate Social Responsibility
4. Where stakeholders 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?			Citizens Charter Contact details for complaints of other Stakeholders Annual Report 2021 Corporate Governance 2020
5. Performance-enhancing mechanisms for employee participation should be permitted to develop.
Does the GOCC explicitly mention the health, safety and welfare policy for its employees?			Code of Ethics Health and Wellness Programs 2021 Corporate Governance 2020
Does the GOCC publish data relating to health, safety and welfare of its employees?			Health and Wellness Programs 2021 Corporate Governance 2020
Does the GOCC have training and development programmes for its employees?			List of Seminars/Trainings/Workshops 2021 Corporate Governance 2020
Does the GOCC publish data on training and development programs for its employees?			List of Seminars/Trainings/Workshops 2021 Corporate Governance 2020
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.
Does the GOCC have procedures for complaints by employees concerning illegal (including corruption) and unethical behavior?			Annual Report 2021 Whistleblowing Policy, pages 6-8 Corporate Governance 2020
Does the GOCC have procedures to protect an employee/person who reveals illegal/unethical behavior from retaliation?			Annual Report 2021 Whistleblowing Policy, pages 4-5 Corporate Governance 2020
II. Disclosure and Transparency (35%)
7. Quality of the Annual Report Does the GOCC’s AR disclose the following items:
Corporate Objectives			Annual Report 2020
Financial performance indicators			Annual Report 2020
Non-financial performance indicators			Annual Report 2020
Details of whistleblowing policy			Annual Report 2020 Whistleblowing Policy
Biographical details (directors)			Annual Report 2020 Corporate Governance 2020
Trainings or continuing education (directors)			Annual Report 2020 Corporate Governance 2020
8. Are the Annual Reports downloadable from the GOCC’s website?			Annual Report 2020
9. Corporate Governance Confirmation Statement
Does the AR contain a statement confirming the company’s full Corporate Governance 2018 and where there is non-compliance, identify and explain reasons for each such issue?			Annual Report 2020
10. Timely filing/release of annual/financial reports
Are the audited annual financial report/statement released within 60 days upon receipt from COA?			Transparency Seal (Section VI. Annual Financial Reports) Date Posted: 5 July 2021 Date of Receipt from COA: 2 July 2021
Is the Annual Report released within 90 days from the release of the audited financial report?			Annual Report: September 18, 2020
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?			Audited Financial Report 2021 Corporate Governance 2020
III. Responsibility of the Board (50%)
11. Corporate Vision/Mission
Has the Board of Directors reviewed the vision and mission/ strategy in the last financial year?			Corporate Governance 2020
Does the Board of Directors monitor/oversee the implementation of the corporate strategy?			Powers and Functions of the Board (page 3) Manual of Corporate Governance (page 5) Corporate Governance 2020
12. Did the GOCC achieve 90% in the PES?			NHMFC PES 2021 (Awaiting NHMFC’s validated scorecard from GCG)
13. Code of ethics or conduct
Are the details of the code of ethics or conduct disclosed?			Code of Conduct Corporate Governance 2020
Does the GOCC disclose that all Directors/Commissioners, senior management and employees are required to comply with the code?			Code of Conduct Corporate Governance 2020
Does the company disclose how it implements and monitors compliance with the code of ethics or conduct?			Code of Conduct Corporate Governance 2020
14. Does the Board appoint a Nomination Compensation/Remuneration Committee?			Included in the functions of Corporate Governance Committee Manual of Corporate Governance
15. Did the Nomination Compensation/Remuneration Committee meet at least twice during the year?			Attendance Record of Directors in Board and Committee Meetings
16. If yes, is the report of the Nomination Compensation/Remuneration Committee publicly disclosed?			Not applicable
17. Does the Board appoint an Audit Committee?			Corporate Governance 2020 Audit Committee: Chairman: BSP Governor Benjamin E. Diokno Represented by: Director Silvina Q. Mamaril-Roxas Director Odemma L. Galang Members: DBM OIC Tina Rose Marie L. Canda DOF Secretary Hon. Carlos G. Dominguez III
18. If yes, is the report of the Audit Committee publicly disclosed?			Information on Board Committees and their activities CY 2021
19. Does at least one member of the Audit Committee have an audit, accounting or finance background (qualification or experience)?
20. Did the Audit Committee meet at least four times during the year?			Attendance Record of Directors in Board and Committee Meetings
21. Does the Board appoint a Risk Management Committee?			Corporate Governance 2020 Risk Management Committee: Charmain: Carlos Luis P. Rabat Members: DHSUD Secretary Hon. Eduardo D. Del Rosario DBM OIC Tina Rose Marie L. Canda DOF Secretary Hon. Carlos G. Dominguez III
22. If yes, is the report on Risk Management Committee publicly disclosed?			Information on Board Committees and their activities CY 2021 Corporate Governance 2020
23. Does at least one member of the Risk Management Committee have a background in finance and investments?
24. Board meetings and attendance
Are the Board of Directors meetings scheduled at the beginning of the year? (end of Q1)			As a rule, Board meetings will be scheduled monthly subject to the availability of Board Members. Corporate Governance 2020 Approved Schedules of Board and Committee Meetings for CY 2021
Does the Board of Directors meet at least monthly?			Attendance Record of Directors in Board and Committee Meetings
Did the Board of Directors meet on at least 75% on their scheduled meetings?			Attendance Record of Directors in Board and Committee Meetings
Has each of the directors/commissioners attended at least 90% of all the board meetings held during the year?			Attendance Record of Directors in Board and Committee Meetings
Did the Board of Directors meet separately at least once during the year without the President/CEO present?			Corporate Governance 2020
25. Access to information
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?			Corporate Governance 2020
Is the Board Secretary trained in legal, accountancy or company secretarial practices?			Atty. Dante M. Patapat
26. Internal Audit
Does the company have a separate internal audit function?			Corporate Governance 2020
Does the appointment and removal of the internal auditor require the approval of the Audit Committee?			Manual of Corporate Governance (page 9)
27. Risk Oversight
Does the company disclose the internal control procedures/risk management systems it has in place?			Risk Management Policy
Does the Annual Report disclose 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?			Annual Report 2020
Does the company disclose how key risks are managed?			Risk Management Policy
Does the Annual Report disclose 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?			Annual Report 2020
28. Board Chairman
Do different persons assume the roles of Chairman and CEO?			The Chairman is DHSUD Secretary Eduardo D. Del Rosario, while the Pres. & CEO is Carlos Luis P. Rabat
29. Board of Directors Development
Does the GOCC have orientation programmes for new Directors?			Corporate Governance 2020 The Office of the Corporate Secretary conducted orientation to new Directors and provided the Briefer materials on 14 October 2020. The Briefer contains the NHMFC’s mandate, major programs, projects, policies, and legal issues.
Does the GOCC have a policy that encourages Directors/Commissioners to attend on-going or continuous professional education programmes?			Manual of Corporate Governance (page 10) Corporate Governance 2020
Did all Appointive Directors attend at least 1 training for the calendar year?			Corporate Governance 2020 Carlos Luis P. Rabat is the only appointive among the directors.
30. Board Appraisal
Is an annual performance assessment conducted of the Board of Directors assessment?			Board and Committee Appraisal System Corporate Governance 2020
Does the GOCC disclose the process followed in conducting the Board?			Board Appraisal System Corporate Governance 2020
Does the GOCC disclose the criteria used in the Board assessment?			Board Appraisal System Corporate Governance 2020
31. Committee Appraisal
Is an annual performance assessment conducted of the Board of Directors Committees?			Board Appraisal System Corporate Governance 2020
BONUS
Stakeholder’s Relationship: Does the GOCC practice Global Reporting Index (GRI) on its annual reports?			GRI Sustainability Report
Disclosure and Transparency: Are the audited annual financial report/statement released within 30 days upon the receipt from COA?			Date Posted: July 2, 2021 Date of Receipt from COA: June 30, 2021
PENALTY
Responsibilities of the Board
Are there members of the Board of Directors who hold more than five (5) positions in GOCCs and PLCs?			None
Is there non-compliance with Good Governance Conditions?			None

Governance Scorecard 2020

1. Does the GOCC disclose a policy that:
QUESTION	YES	NO	REFERENCE
I. Stakeholder Relationships (15%)
Stipulates the existence and scope of its effort to address customer’s welfare?			Mission Vision Manual of Corporate Governance (page 18-21) NHMFC Quality Policy Statement
Elaborates its efforts to interact with the communities in which they operate?			Corporate Social Responsibility NHMFC Quality Policy Statement
Ensure that its value chain is environmentally friendly or is consistent with promoting sustainable development?			Corporate Social Responsibility
2. Does the GOCC disclose the activities that it has undertaken to implement the abovementioned policies?
Customer health and safety			Corporate Social Responsibility Major Programs, Projects and Activities
Interaction with the communities			Corporate Social Responsibility
Environmentally-friendly value chain			Corporate Social Responsibility
3. Does the GOCC have a separate Corporate Social Responsibility (CSR) report/section or sustainability report/section?			Corporate Social Responsibility
4. Where stakeholders 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?			Citizens Charter Contact details for complaints of other Stakeholders Annual Report 2020 Corporate Governance 2020
5. Performance-enhancing mechanisms for employee participation should be permitted to develop.
Does the GOCC explicitly mention the health, safety and welfare policy for its employees?			Code of Ethics Health and Wellness Programs 2020 Corporate Governance 2020
Does the GOCC publish data relating to health, safety and welfare of its employees?			Health and Wellness Programs 2020 Corporate Governance 2020
Does the GOCC have training and development programmes for its employees?			List of Seminars/Trainings/Workshops 2020 Corporate Governance 2020
Does the GOCC publish data on training and development programs for its employees?			List of Seminars/Trainings/Workshops 2020 Corporate Governance 2020
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.
Does the GOCC have procedures for complaints by employees concerning illegal (including corruption) and unethical behavior?			Annual Report 2020 Whistleblowing Policy, pages 6-8 Corporate Governance 2020
Does the GOCC have procedures to protect an employee/person who reveals illegal/unethical behavior from retaliation?			Annual Report 2020 Whistleblowing Policy, pages 4-5 Corporate Governance 2020
II. Disclosure and Transparency (35%)
7. Quality of the Annual Report Does the GOCC’s AR disclose the following items:
Corporate Objectives			Annual Report 2020
Financial performance indicators			Annual Report 2020
Non-financial performance indicators			Annual Report 2020
Details of whistleblowing policy			Annual Report 2020 Whistleblowing Policy
Biographical details (directors)			Annual Report 2020 Corporate Governance 2020
Trainings or continuing education (directors)			Annual Report 2020 Corporate Governance 2020
8. Are the Annual Reports downloadable from the GOCC’s website?			Annual Report 2020
9. Corporate Governance Confirmation Statement
Does the AR contain a statement confirming the company’s full Corporate Governance 2018 and where there is non-compliance, identify and explain reasons for each such issue?			Annual Report 2020
10. Timely filing/release of annual/financial reports
Are the audited annual financial report/statement released within 60 days upon receipt from COA?			Transparency Seal (Section VI. Annual Financial Reports) Date Posted: 5 July 2021 Date of Receipt from COA: 2 July 2021
Is the Annual Report released within 90 days from the release of the audited financial report?			Annual Report: September 18, 2020
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?			Audited Financial Report 2020 Corporate Governance 2020
III. Responsibility of the Board (50%)
11. Corporate Vision/Mission
Has the Board of Directors reviewed the vision and mission/ strategy in the last financial year?			Corporate Governance 2020
Does the Board of Directors monitor/oversee the implementation of the corporate strategy?			Powers and Functions of the Board (page 3) Manual of Corporate Governance (page 5) Corporate Governance 2020
12. Did the GOCC achieve 90% in the PES?			NHMFC PES 2020 (Awaiting NHMFC’s validated scorecard from GCG)
13. Code of ethics or conduct
Are the details of the code of ethics or conduct disclosed?			Code of Conduct Corporate Governance 2020
Does the GOCC disclose that all Directors/Commissioners, senior management and employees are required to comply with the code?			Code of Conduct Corporate Governance 2020
Does the company disclose how it implements and monitors compliance with the code of ethics or conduct?			Code of Conduct Corporate Governance 2020
14. Does the Board appoint a Nomination Compensation/Remuneration Committee?			Included in the functions of Corporate Governance Committee Manual of Corporate Governance
15. Did the Nomination Compensation/Remuneration Committee meet at least twice during the year?			Attendance Record of Directors in Board and Committee Meetings
16. If yes, is the report of the Nomination Compensation/Remuneration Committee publicly disclosed?			Not applicable
17. Does the Board appoint an Audit Committee?			Corporate Governance 2020 Audit Committee: Chairman: BSP Governor Benjamin E. Diokno Represented by: Director Silvina Q. Mamaril-Roxas Director Odemma L. Galang Members: DBM Secretary Wendel E. Avisado Director Ryan S. Lita Director Carmencita P. Mahinay DOF Secretary Carlos G. Dominguez III Undersecretary Grace Karen G. Singson DPO Stephen J. Araneta Assistant Secretary Soledad Emilia J. Cruz Director Joanna P. Castillo
18. If yes, is the report of the Audit Committee publicly disclosed?			Information on Board Committees and their activities CY 2020
19. Does at least one member of the Audit Committee have an audit, accounting or finance background (qualification or experience)?			1. Ryan S. Lita 2. Carmencita P. Mahinay
20. Did the Audit Committee meet at least four times during the year?			Attendance Record of Directors in Board and Committee Meetings
21. Does the Board appoint a Risk Management Committee?			Corporate Governance 2020 Risk Management Committee: Charmain: Dr. Felixberto U. Bustos, Jr. Members: HUDCC Chairperson Eduardo D. Del Rosario Secretary General Marcelino P. Escalada, Jr. DBM Secretary Benjamin E. Diokno (06/30/2016 – 03/03/2019) Director Ryan S. Lita Director Rowena Candice M. Ruiz Director Carmencita P. Mahinay Director Lorenzo C. Drapete DOF Secretary Carlos G. Dominguez III Undersecretary Grace Karen G. Singson Assistant Secretary Soledad Emilia J. Cruz Director Joanna P. Castillo
22. If yes, is the report on Risk Management Committee publicly disclosed?			Information on Board Committees and their activities CY 2020 Corporate Governance 2020
23. Does at least one member of the Risk Management Committee have a background in finance and investments?			Dr. Felixberto U. Bustos, Jr. Grace Karen Singson Ryan S. Lita Carmencita P. Mahinay
24. Board meetings and attendance
Are the Board of Directors meetings scheduled at the beginning of the year? (end of Q1)			As a rule, Board meetings will be scheduled monthly subject to the availability of Board Members. Corporate Governance 2020 Approved Schedules of Board and Committee Meetings for CY 2020
Does the Board of Directors meet at least monthly?			Attendance Record of Directors in Board and Committee Meetings
Did the Board of Directors meet on at least 75% on their scheduled meetings?			Attendance Record of Directors in Board and Committee Meetings
Has each of the directors/commissioners attended at least 90% of all the board meetings held during the year?			Attendance Record of Directors in Board and Committee Meetings
Did the Board of Directors meet separately at least once during the year without the President/CEO present?			Corporate Governance 2020
25. Access to information
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?			Corporate Governance 2020
Is the Board Secretary trained in legal, accountancy or company secretarial practices?			Atty. Dante M. Patapat
26. Internal Audit
Does the company have a separate internal audit function?			Corporate Governance 2020
Does the appointment and removal of the internal auditor require the approval of the Audit Committee?			Manual of Corporate Governance (page 9)
27. Risk Oversight
Does the company disclose the internal control procedures/risk management systems it has in place?			Risk Management Policy
Does the Annual Report disclose 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?			Annual Report 2020
Does the company disclose how key risks are managed?			Risk Management Policy
Does the Annual Report disclose 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?			Annual Report 2020
28. Board Chairman
Do different persons assume the roles of Chairman and CEO?			The Chairman is HUDCC Chairperson Eduardo D. Del Rosario, while the Pres. & CEO is Dr. Felixberto U. Bustos, Jr.
29. Board of Directors Development
Does the GOCC have orientation programmes for new Directors?			Corporate Governance 2020 The Office of the Corporate Secretary conducted orientation to new Directors and provided the Briefer materials on 14 October 2020. The Briefer contains the NHMFC’s mandate, major programs, projects, policies, and legal issues.
Does the GOCC have a policy that encourages Directors/Commissioners to attend on-going or continuous professional education programmes?			Manual of Corporate Governance (page 10) Corporate Governance 2020
Did all Appointive Directors attend at least 1 training for the calendar year?			Corporate Governance 2020 Dr. Felixberto U. Bustos, Jr. is the only appointive among the directors.
30. Board Appraisal
Is an annual performance assessment conducted of the Board of Directors assessment?			Board and Committee Appraisal System Corporate Governance 2020
Does the GOCC disclose the process followed in conducting the Board?			Board Appraisal System Corporate Governance 2020
Does the GOCC disclose the criteria used in the Board assessment?			Board Appraisal System Corporate Governance 2020
31. Committee Appraisal
Is an annual performance assessment conducted of the Board of Directors Committees?			Board Appraisal System Corporate Governance 2020
BONUS
Stakeholder’s Relationship: Does the GOCC practice Global Reporting Index (GRI) on its annual reports?			GRI Sustainability Report
Disclosure and Transparency: Are the audited annual financial report/statement released within 30 days upon the receipt from COA?			Date Posted: July 5, 2020 Date of Receipt from COA: July 2, 2020
PENALTY
Responsibilities of the Board
Are there members of the Board of Directors who hold more than five (5) positions in GOCCs and PLCs?			None
Is there non-compliance with Good Governance Conditions?			None

Governance Scorecard 2019

1. Does the GOCC disclose a policy that:
QUESTION	YES	NO	REFERENCE
I. Stakeholder Relationships (15%)
Stipulates the existence and scope of its effort to address customer’s welfare?			Mission Vision Manual of Corporate Governance (page 18-21) NHMFC Quality Policy Statement
Elaborates its efforts to interact with the communities in which they operate?			Corporate Social Responsibility NHMFC Quality Policy Statement
Ensure that its value chain is environmentally friendly or is consistent with promoting sustainable development?			Corporate Social Responsibility
2. Does the GOCC disclose the activities that it has undertaken to implement the abovementioned policies?
Customer health and safety			Corporate Social Responsibility Major Programs, Projects and Activities
Interaction with the communities			Corporate Social Responsibility
Environmentally-friendly value chain			Corporate Social Responsibility
3. Does the GOCC have a separate Corporate Social Responsibility (CSR) report/section or sustainability report/section?			Corporate Social Responsibility
4. Where stakeholders 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?			Citizens Charter Contact details for complaints of other Stakeholders Annual Report 2019 Corporate Governance 2019
5. Performance-enhancing mechanisms for employee participation should be permitted to develop.
Does the GOCC explicitly mention the health, safety and welfare policy for its employees?			Code of Ethics Health and Wellness Programs 2019 Corporate Governance 2019
Does the GOCC publish data relating to health, safety and welfare of its employees?			Health and Wellness Programs 2019 Corporate Governance 2019
Does the GOCC have training and development programmes for its employees?			List of Seminars/Trainings/Workshops 2019 Corporate Governance 2019
Does the GOCC publish data on training and development programs for its employees?			List of Seminars/Trainings/Workshops 2019 Corporate Governance 2019
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.
Does the GOCC have procedures for complaints by employees concerning illegal (including corruption) and unethical behavior?			Annual Report 2019 Whistleblowing Policy, pages 6-8 Corporate Governance 2019
Does the GOCC have procedures to protect an employee/person who reveals illegal/unethical behavior from retaliation?			Annual Report 2019 Whistleblowing Policy, pages 4-5 Corporate Governance 2019
II. Disclosure and Transparency (35%)
7. Quality of the Annual Report Does the GOCC’s AR disclose the following items:
Corporate Objectives			Annual Report 2019
Financial performance indicators			Annual Report 2019
Non-financial performance indicators			Annual Report 2019
Details of whistleblowing policy			Annual Report 2019 Whistleblowing Policy
Biographical details (directors)			Annual Report 2019 Corporate Governance 2019
Trainings or continuing education (directors)			Annual Report 2019 Corporate Governance 2019
8. Are the Annual Reports downloadable from the GOCC’s website?			Annual Report 2019
9. Corporate Governance Confirmation Statement
Does the AR contain a statement confirming the company’s full Corporate Governance 2018 and where there is non-compliance, identify and explain reasons for each such issue?			Annual Report 2019
10. Timely filing/release of annual/financial reports
Are the audited annual financial report/statement released within 60 days upon receipt from COA?			Transparency Seal (Section VI. Annual Financial Reports) Date Posted: September 9, 2020 Date of Receipt from COA: August 20, 2020
Is the Annual Report released within 90 days from the release of the audited financial report?			Annual Report: September 18, 2020
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?			Audited Financial Report 2019 Corporate Governance 2019
III. Responsibility of the Board (50%)
11. Corporate Vision/Mission
Has the Board of Directors reviewed the vision and mission/ strategy in the last financial year?			Corporate Governance 2019
Does the Board of Directors monitor/oversee the implementation of the corporate strategy?			Powers and Functions of the Board (page 3) Manual of Corporate Governance (page 5) Corporate Governance 2019
12. Did the GOCC achieve 90% in the PES?			NHMFC PES 2019
13. Code of ethics or conduct
Are the details of the code of ethics or conduct disclosed?			Code of Conduct Corporate Governance 2019
Does the GOCC disclose that all Directors/Commissioners, senior management and employees are required to comply with the code?			Code of Conduct Corporate Governance 2019
Does the company disclose how it implements and monitors compliance with the code of ethics or conduct?			Code of Conduct Corporate Governance 2019
14. Does the Board appoint a Nomination Compensation/Remuneration Committee?			Included in the functions of Corporate Governance Committee Manual of Corporate Governance
15. Did the Nomination Compensation/Remuneration Committee meet at least twice during the year?			No Governance Meeting held for CY 2019
16. If yes, is the report of the Nomination Compensation/Remuneration Committee publicly disclosed?			Not applicable
17. Does the Board appoint an Audit Committee?			Corporate Governance 2019 Audit Committee: Chairman: BSP Governor Benjamin E. Diokno BSP Governor Nestor Espenilla, Jr. Represented by: Director Silvina Q. Mamaril-Roxas Director Odemma L. Galang Director Diwa C. Guinigundo Director Laura L. Ignacio Director Elaine C. Calleja Members: DBM Secretary Wendel E. Avisado DBM Secretary Benjamin E. Diokno (06/30/2016 – 03/03/2019) Director Ryan S. Lita Director Carmencita P. Mahinay DOF Secretary Carlos G. Dominguez III Undersecretary Grace Karen G. Singson Assistant Secretary Soledad Emilia J. Cruz Director Joanna P. Castillo
18. If yes, is the report of the Audit Committee publicly disclosed?			Information on Board Committees and their activities CY 2019
19. Does at least one member of the Audit Committee have an audit, accounting or finance background (qualification or experience)?			1. Diwa C. Guinigundo 2. Ryan S. Lita 3. Carmencita P. Mahinay
20. Did the Audit Committee meet at least four times during the year?			Attendance Record of Directors in Board and Committee Meetings
21. Does the Board appoint a Risk Management Committee?			Corporate Governance 2019 Risk Management Committee: Charmain: Dr. Felixberto U. Bustos, Jr. Members: HUDCC Chairperson Eduardo D. Del Rosario Secretary General Marcelino P. Escalada, Jr. DBM Secretary Benjamin E. Diokno (06/30/2016 – 03/03/2019) Director Ryan S. Lita Director Rowena Candice M. Ruiz Director Carmencita P. Mahinay Director Lorenzo C. Drapete DOF Secretary Carlos G. Dominguez III Undersecretary Grace Karen G. Singson Assistant Secretary Soledad Emilia J. Cruz Director Joanna P. Castillo
22. If yes, is the report on Risk Management Committee publicly disclosed?			Information on Board Committees and their activities CY 2019 Corporate Governance 2019
23. Does at least one member of the Risk Management Committee have a background in finance and investments?			Dr. Felixberto U. Bustos, Jr. Grace Karen Singson Ryan S. Lita Carmencita P. Mahinay
24. Board meetings and attendance
Are the Board of Directors meetings scheduled at the beginning of the year? (end of Q1)			Corporate Governance 2019 Approved Schedules of Board and Committee Meetings for CY 2019
Does the Board of Directors meet at least monthly?			Attendance Record of Directors in Board and Committee Meetings
Did the Board of Directors meet on at least 75% on their scheduled meetings?			Attendance Record of Directors in Board and Committee Meetings
Has each of the directors/commissioners attended at least 90% of all the board meetings held during the year?			Attendance Record of Directors in Board and Committee Meetings
Did the Board of Directors meet separately at least once during the year without the President/CEO present?			Corporate Governance 2019
25. Access to information
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?			Corporate Governance 2019
Is the Board Secretary trained in legal, accountancy or company secretarial practices?			Atty. Dante M. Patapat
26. Internal Audit
Does the company have a separate internal audit function?			Corporate Governance 2019
Does the appointment and removal of the internal auditor require the approval of the Audit Committee?			Manual of Corporate Governance (page 9)
27. Risk Oversight
Does the company disclose the internal control procedures/risk management systems it has in place?			Risk Management Policy
Does the Annual Report disclose 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?			Annual Report 2019
Does the company disclose how key risks are managed?			Risk Management Policy
Does the Annual Report disclose 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?			Annual Report 2019
28. Board Chairman
Do different persons assume the roles of Chairman and CEO?			The Chairman is HUDCC Chairperson Eduardo D. Del Rosario, while the Pres. & CEO is Dr. Felixberto U. Bustos, Jr.
29. Board of Directors Development
Does the GOCC have orientation programmes for new Directors?			Corporate Governance 2019
Does the GOCC have a policy that encourages Directors/Commissioners to attend on-going or continuous professional education programmes?			Manual of Corporate Governance (page 10) Corporate Governance 2019
Did all Appointive Directors attend at least 1 training for the calendar year?			Corporate Governance 2019 Dr. Felixberto U. Bustos, Jr. is the only appointive among the directors. Below are the seminars and trainings he has attended for CY 2019:
30. Board Appraisal
Is an annual performance assessment conducted of the Board of Directors assessment?			Board and Committee Appraisal System Corporate Governance 2019
Does the GOCC disclose the process followed in conducting the Board?			Board Appraisal System Corporate Governance 2019
Does the GOCC disclose the criteria used in the Board assessment?			Board Appraisal System Corporate Governance 2019
31. Committee Appraisal
Is an annual performance assessment conducted of the Board of Directors Committees?			Board Appraisal System Corporate Governance 2019
BONUS
Stakeholder’s Relationship: Does the GOCC practice Global Reporting Index (GRI) on its annual reports?			GRI Sustainability Report
Disclosure and Transparency: Are the audited annual financial report/statement released within 30 days upon the receipt from COA?			Date Posted: September 09, 2020 Date of Receipt from COA: August 20, 2020
PENALTY
Responsibilities of the Board
Are there members of the Board of Directors who hold more than five (5) positions in GOCCs and PLCs?			None
Is there non-compliance with Good Governance Conditions?			None

Governance Scorecard 2018

1. Does the GOCC disclose a policy that:
QUESTION	YES	NO	REFERENCE
I. Stakeholder Relationships (15%)
Stipulates the existence and scope of its effort to address customer’s welfare?			Mission Vision Manual of Corporate Governance (page 18-21) NHMFC Quality Policy Statement
Elaborates its efforts to interact with the communities in which they operate?			Corporate Social Responsibility Annual Report 2018 NHMFC Quality Policy Statement
Ensure that its value chain is environmentally friendly or is consistent with promoting sustainable development?			Corporate Social Responsibility Annual Report 2018
2. Does the GOCC disclose the activities that it has undertaken to implement the abovementioned policies?
Customer health and safety			Annual Report 2018 Corporate Social Responsibility Major Programs, Projects and Activities NHMFC Moratorium Program One Stop Shop E-payment Program for Juan and Juana Earthquake and Fire Drill
Interaction with the communities			Corporate Social Responsibility Annual Report 2018
Environmentally-friendly value chain			Corporate Social Responsibility Annual Report 2018
3. Does the GOCC have a separate Corporate Social Responsibility (CSR) report/section or sustainability report/section?			Corporate Social Responsibility Annual Report 2018
4. Where stakeholders 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?			Citizens Charter Contact details for complaints of other Stakeholders Annual Report 2018 Corporate Governance 2018
5. Performance-enhancing mechanisms for employee participation should be permitted to develop.
Does the GOCC explicitly mention the health, safety and welfare policy for its employees?			Code of Ethics Health and Wellness Programs 2018 Corporate Governance 2018
Does the GOCC publish data relating to health, safety and welfare of its employees?			Health and Wellness Programs 2018 Corporate Governance 2018
Does the GOCC have training and development programmes for its employees?			Corporate Governance 2018 Trainings and Development
Does the GOCC publish data on training and development programs for its employees?			Corporate Governance 2018 Trainings and Development
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.
Does the GOCC have procedures for complaints by employees concerning illegal (including corruption) and unethical behavior?			Annual Report 2018 Whistleblowing Policy, pages 6-8 Corporate Governance 2018
Does the GOCC have procedures to protect an employee/person who reveals illegal/unethical behavior from retaliation?			Annual Report 2018 Whistleblowing Policy, pages 4-5 Corporate Governance 2018
II. Disclosure and Transparency (35%)
7. Quality of the Annual Report Does the GOCC’s AR disclose the following items:
Corporate Objectives			Annual Report 2018
Financial performance indicators			Annual Report 2018
Non-financial performance indicators			Annual Report 2018
Details of whistleblowing policy			Annual Report 2018 Whistleblowing Policy
Biographical details (directors)			Annual Report 2018 Corporate Governance 2018
Trainings or continuing education (directors)			Annual Report 2018 Corporate Governance 2018
8. Are the Annual Reports downloadable from the GOCC’s website?			Annual Report 2018
9. Corporate Governance Confirmation Statement
Does the AR contain a statement confirming the company’s full Corporate Governance 2018 and where there is non-compliance, identify and explain reasons for each such issue?			Annual Report 2018 Corporate Governance 2018
10. Timely filing/release of annual/financial reports
Are the audited annual financial report/statement released within 60 days upon receipt from COA?			Transparency Seal (Section VI. Annual Financial Reports) Date Posted: 23 May 2019 Date of Receipt from COA: 14 May 2019
Is the Annual Report released within 90 days from the release of the audited financial report?			Audited Financial Report 2018: 23 May 2019 Annual Report: October 2018
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?			Audited Financial Report 2018 Corporate Governance 2018
III. Responsibility of the Board (50%)
11. Corporate Vision/Mission
Has the Board of Directors reviewed the vision and mission/ strategy in the last financial year?			Corporate Governance 2018
Does the Board of Directors monitor/oversee the implementation of the corporate strategy?			Powers and Functions of the Board (page 3) Manual of Corporate Governance (page 5) Corporate Governance 2018
12. Did the GOCC achieve 90% in the PES?			NHMFC PES 2018 rating is 42.87%
13. Code of ethics or conduct
Are the details of the code of ethics or conduct disclosed?			Code of Conduct Corporate Governance 2018
Does the GOCC disclose that all Directors/Commissioners, senior management and employees are required to comply with the code?			Code of Conduct Corporate Governance 2018
Does the company disclose how it implements and monitors compliance with the code of ethics or conduct?			Code of Conduct Corporate Governance 2018
14. Does the Board appoint a Nomination Compensation/Remuneration Committee?			Included in the functions of Corporate Governance Committee Manual of Corporate Governance
15. Did the Nomination Compensation/Remuneration Committee meet at least twice during the year?			No Governance Meeting held for CY 2018
16. If yes, is the report of the Nomination Compensation/Remuneration Committee publicly disclosed?			Not applicable
17. Does the Board appoint an Audit Committee?			Corporate Governance 2018 Audit Committee: Chairman: Deputy Governor Diwa C. Guinigundo Members: DBM Secretary Benjamin E. Diokno Director Ryan S. Lita Director Rowena Candice M. Ruiz Director Carmencita P. Mahinay Director Lorenzo C. Drapete DOF Secretary Carlos G. Dominguez III Undersecretary Grace Karen G. Singson Assistant Secretary Soledad Emilia J. Cruz Director Joanna P. Castillo
18. If yes, is the report of the Audit Committee publicly disclosed?			Information on Board Committees and their activities CY 2018
19. Does at least one member of the Audit Committee have an audit, accounting or finance background (qualification or experience)?			1. Diwa C. Guinigundo 2. Ryan S. Lita 3. Carmencita P. Mahinay 4. Rowena Candice M. Ruiz
20. Did the Audit Committee meet at least four times during the year?			Attendance Record of Directors in Board and Committee Meetings
21. Does the Board appoint a Risk Management Committee?			Corporate Governance 2018 Risk Management Committee: Chairman: Dr. Felixberto U. Bustos, Jr. Members: HUDCC Chairperson Eduardo D. Del Rosario Secretary General Falconi V. Millar DBM Secretary Benjamin E. Diokno Director Ryan S. Lita Director Rowena Candice M. Ruiz Director Carmencita P. Mahinay Director Lorenzo C. Drapete DOF Secretary Carlos G. Dominguez III Undersecretary Grace Karen G. Singson Assistant Secretary Soledad Emilia J. Cruz Director Joanna P. Castillo
22. If yes, is the report on Risk Management Committee publicly disclosed?			Information on Board Committees and their activities CY 2018 Corporate Governance 2018
23. Does at least one member of the Risk Management Committee have a background in finance and investments?			Dr. Felixberto U. Bustos, Jr. Grace Karen Singson Falconi Millar Ryan S. Lita Lorenzo C. Drapete Carmencita P. Mahinay Rowena Candice M. Ruiz
24. Board meetings and attendance
Are the Board of Directors meetings scheduled at the beginning of the year? (end of Q1)			Corporate Governance 2018 Approved Schedules of Board and Committee Meetings for CY 2018
Does the Board of Directors meet at least monthly?			Attendance Record of Directors in Board and Committee Meetings Corporate Governance 2018
Did the Board of Directors meet on at least 75% on their scheduled meetings?			Attendance Record of Directors in Board and Committee Meetings Corporate Governance 2018
Has each of the directors/commissioners attended at least 90% of all the board meetings held during the year?			Attendance Record of Directors in Board and Committee Meetings Corporate Governance 2018
Did the Board of Directors meet separately at least once during the year without the President/CEO present?			Corporate Governance 2018
25. Access to information
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?			Corporate Governance 2018
Is the Board Secretary trained in legal, accountancy or company secretarial practices?			Corporate Governance 2018
26. Internal Audit
Does the company have a separate internal audit function?			Organizational Chart Corporate Governance 2018
Does the appointment and removal of the internal auditor require the approval of the Audit Committee?			Manual of Corporate Governance (page 9) Corporate Governance 2018
27. Risk Oversight
Does the company disclose the internal control procedures/risk management systems it has in place?			Risk Management Policy Corporate Governance 2018
Does the Annual Report disclose 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?			Annual Report 2018 Corporate Governance 2018
Does the company disclose how key risks are managed?			Risk Management Policy Corporate Governance 2018
Does the Annual Report disclose 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?			Annual Report 2018 Corporate Governance 2018
28. Board Chairman
Do different persons assume the roles of Chairman and CEO?			The Chairman is HUDCC Chairperson Eduardo D. Del Rosario, while the Pres. & CEO is Dr. Felixberto U. Bustos, Jr.
29. Board of Directors Development
Does the GOCC have orientation programmes for new Directors?			Corporate Governance 2018
Does the GOCC have a policy that encourages Directors/Commissioners to attend on-going or continuous professional education programmes?			Manual of Corporate Governance (page 10) Corporate Governance 2018
Did all Appointive Directors attend at least 1 training for the calendar year?			Corporate Governance 2018 Dr. Felixberto U. Bustos, Jr. is the only appointive among the directors. Below are the seminars and trainings he has attended for CY 2018: Philippine Investment Conference 2018 9^th Annual Convention on Sustaining Housing Growth Amidst Changing Times
30. Board Appraisal
Is an annual performance assessment conducted of the Board of Directors assessment?			Board and Committee Appraisal System Corporate Governance 2018
Does the GOCC disclose the process followed in conducting the Board?			Board Appraisal System Corporate Governance 2018
Does the GOCC disclose the criteria used in the Board assessment?			Board Appraisal System Corporate Governance 2018
31. Committee Appraisal
Is an annual performance assessment conducted of the Board of Directors Committees?			Board Appraisal System Corporate Governance 2018
BONUS
Stakeholder’s Relationship: Does the GOCC practice Global Reporting Index (GRI) on its annual reports?
Disclosure and Transparency: Are the audited annual financial report/statement released within 30 days upon the receipt from COA?			Date Posted: 23 May 2019 Date of Receipt from COA: 14 May 2019
PENALTY
Responsibilities of the Board
Are there members of the Board of Directors who hold more than five (5) positions in GOCCs and PLCs?			None
Is there non-compliance with Good Governance Conditions?			None

Governance Scorecard 2017

1. Does the GOCC disclose a policy that:
QUESTION	YES	NO	REFERENCE
I. Stakeholder Relationships (15%)
Stipulates the existence and scope of its effort to address customer’s welfare?			Mission Vision Manual of Corporate Governance (page 18-21) NHMFC Quality Policy Statement
Elaborates its efforts to interact with the communities in which they operate?			Corporate Social Responsibility Annual Report 2017 NHMFC Quality Policy Statement
Ensure that its value chain is environmentally friendly or is consistent with promoting sustainable development?			Corporate Social Responsibility Annual Report 2017
2. Does the GOCC disclose the activities that it has undertaken to implement the abovementioned policies?
Customer health and safety			Annual Report 2017 Corporate Social Responsibility Major Programs, Projects and Activities NHMFC Moratorium Program One Stop Shop E-payment Program for Juan and Juana Earthquake and Fire Drill
Interaction with the communities			Corporate Social Responsibility Annual Report 2017
Environmentally-friendly value chain			Corporate Social Responsibility Annual Report 2017
3. Does the GOCC have a separate Corporate Social Responsibility (CSR) report/section or sustainability report/section?			Corporate Social Responsibility Annual Report 2017
4. Where stakeholders 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?			Citizens Charter Contact details for complaints of other Stakeholders Annual Report 2017 Corporate Governance 2017
5. Performance-enhancing mechanisms for employee participation should be permitted to develop.
Does the GOCC explicitly mention the health, safety and welfare policy for its employees?			Code of Ethics Health and Wellness Programs 2017 Corporate Governance 2017
Does the GOCC publish data relating to health, safety and welfare of its employees?			Health and Wellness Programs 2017 Corporate Governance 2017
Does the GOCC have training and development programmes for its employees?			Corporate Governance 2017 Trainings and Development
Does the GOCC publish data on training and development programs for its employees?			Corporate Governance 2017 Trainings and Development
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.
Does the GOCC have procedures for complaints by employees concerning illegal (including corruption) and unethical behavior?			Annual Report 2017 Whistleblowing Policy, pages 6-8 Corporate Governance 2017
Does the GOCC have procedures to protect an employee/person who reveals illegal/unethical behavior from retaliation?			Annual Report 2017 Whistleblowing Policy, pages 4-5 Corporate Governance 2017
II. Disclosure and Transparency (35%)
7. Quality of the Annual Report Does the GOCC’s AR disclose the following items:
Corporate Objectives			Annual Report 2017
Financial performance indicators			Annual Report 2017
Non-financial performance indicators			Annual Report 2017
Details of whistleblowing policy			Annual Report 2017 Whistleblowing Policy
Biographical details (directors)			Annual Report 2017 Corporate Governance 2017
Trainings or continuing education (directors)			Annual Report 2017 Corporate Governance 2017
8. Are the Annual Reports downloadable from the GOCC’s website?			Annual Report 2017
9. Corporate Governance Confirmation Statement
Does the AR contain a statement confirming the company’s full Corporate Governance 2017 and where there is non-compliance, identify and explain reasons for each such issue?			Annual Report 2017 Corporate Governance 2017
10. Timely filing/release of annual/financial reports
Are the audited annual financial report/statement released within 60 days upon receipt from COA?			Transparency Seal (Section VI. Annual Financial Reports) Date Posted: 4 July 2018 Date of Receipt from COA: 27 June 2018
Is the Annual Report released within 90 days from the release of the audited financial report?			Audited Financial Report 2017: 27 June 2018 Annual Report: October 2018
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?			Audited Financial Report 2017 Corporate Governance 2017
III. Responsibility of the Board (50%)
11. Corporate Vision/Mission
Has the Board of Directors reviewed the vision and mission/ strategy in the last financial year?			Corporate Governance 2017
Does the Board of Directors monitor/oversee the implementation of the corporate strategy?			Powers and Functions of the Board (page 3) Manual of Corporate Governance (page 5) Corporate Governance 2017
12. Did the GOCC achieve 90% in the PES?			NHMFC PES 2017 rating is 48.71%
13. Code of ethics or conduct
Are the details of the code of ethics or conduct disclosed?			Code of Conduct Corporate Governance 2017
Does the GOCC disclose that all Directors/Commissioners, senior management and employees are required to comply with the code?			Code of Conduct Corporate Governance 2017
Does the company disclose how it implements and monitors compliance with the code of ethics or conduct?			Code of Conduct Corporate Governance 2017
14. Does the Board appoint a Nomination Compensation/Remuneration Committee?			Included in the functions of Corporate Governance Committee Manual of Corporate Governance
15. Did the Nomination Compensation/Remuneration Committee meet at least twice during the year?			Included in the functions of Corporate Governance Committee Manual of Corporate Governance
16. If yes, is the report of the Nomination Compensation/Remuneration Committee publicly disclosed?			Not applicable
17. Does the Board appoint an Audit Committee?			Corporate Governance 2017 Audit Committee: Chairman: Deputy Governor Diwa C. Guinigundo Members: Director Lorenzo C. Drapete Undersecretary Grace Karen G. Singson Asst. Sec. Soledad Emilia J. Cruz Director Joanna P. Castillo Undersecretary Bayani H. Agabin Atty. Cristina Mia S. Pineda
18. If yes, is the report of the Audit Committee publicly disclosed?			Information on Board Committees and their activities CY 2017
19. Does at least one member of the Audit Committee have an audit, accounting or finance background (qualification or experience)?			Diwa C. Guinigundo
20. Did the Audit Committee meet at least four times during the year?			Audit Committee Meetings held twice a year. First Audit Meeting : 01 March 2017 Second Audit Meeting: 29 November 2017
21. Does the Board appoint a Risk Management Committee?			Corporate Governance 2017 Risk Management Committee: Chairman: Dr. Felixberto U. Bustos, Jr. Members: HUDCC Chairperson Eduardo D. Del Rosario Secretary General Falconi V. Millar Cabinet Secretary Leoncio B. Evasco, Jr. Deputy Secretary General Avelino D. Tolentino III Director Lorenzo C. Drapete Undersecretary Grace Karen G. Singson Assistant Secretary Soledad Emilia J. Cruz Director Joanna P. Castillo Undersecretary Bayani H. Agabin Atty. Cristina Mia S. Pineda
22. If yes, is the report on Risk Management Committee publicly disclosed?			Information on Board Committees and their activities CY 2017 Corporate Governance 2017
23. Does at least one member of the Risk Management Committee have a background in finance and investments?			Dr. Felixberto U. Bustos, Jr. Grace Karen Singson Falconi Millar Avelino Tolentino, III Lorenzo C. Drapete
24. Board meetings and attendance
Are the Board of Directors meetings scheduled at the beginning of the year? (end of Q1)			Corporate Governance 2017 Approved Schedules of Board and Committee Meetings for CY 2017
Does the Board of Directors meet at least monthly?			Attendance Record of Directors in Board and Committee Meetings Corporate Governance 2017
Did the Board of Directors meet on at least 75% on their scheduled meetings?			Attendance Record of Directors in Board and Committee Meetings Corporate Governance 2017
Has each of the directors/commissioners attended at least 90% of all the board meetings held during the year?			Attendance Record of Directors in Board and Committee Meetings Corporate Governance 2017
Did the Board of Directors meet separately at least once during the year without the President/CEO present?			Corporate Governance 2017
25. Access to information
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?			Corporate Governance 2017
Is the Board Secretary trained in legal, accountancy or company secretarial practices?			Corporate Governance 2017
26. Internal Audit
Does the company have a separate internal audit function?			Organizational Chart Corporate Governance 2017
Does the appointment and removal of the internal auditor require the approval of the Audit Committee?			Manual of Corporate Governance.(page 9) Corporate Governance 2017
27. Risk Oversight
Does the company disclose the internal control procedures/risk management systems it has in place?			Risk Management Policy. Corporate Governance 2017
Does the Annual Report disclose 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?			Annual Report Corporate Governance 2017
Does the company disclose how key risks are managed?			Risk Management Policy Corporate Governance 2017
Does the Annual Report disclose 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?			Annual Report Corporate Governance 2017
28. Board Chairman
Do different persons assume the roles of Chairman and CEO?			The Chairman is HUDCC Chairperson Eduardo D. Del Rosario, while the Pres. & CEO is Dr. Felixberto U. Bustos, Jr.
29. Board of Directors Development
Does the GOCC have orientation programmes for new Directors?			Corporate Governance 2017
Does the GOCC have a policy that encourages Directors/Commissioners to attend on-going or continuous professional education programmes?			Manual of Corporate Governance (page 10) Corporate Governance 2017
Did all Appointive Directors attend at least 1 training for the calendar year?			Corporate Governance 2018 Dr. Felixberto U. Bustos, Jr. is the only appointive among the directors. Below are the seminars and trainings he has attended for CY 2018: Seminar on Corporate Governance (August 29-30, 2017) Paralegal Training Program (September 30-December 9, 2017) GAD Seminar (October 16-17,2017)
30. Board Appraisal
Is an annual performance assessment conducted of the Board of Directors assessment?			Board and Committee Appraisal System Corporate Governance 2017
Does the GOCC disclose the process followed in conducting the Board?			Board Appraisal System Corporate Governance 2017
Does the GOCC disclose the criteria used in the Board assessment?			Board Appraisal System Corporate Governance 2017
31. Committee Appraisal
Is an annual performance assessment conducted of the Board of Directors Committees?			Board Appraisal System Corporate Governance 2017
BONUS
Stakeholder’s Relationship: Does the GOCC practice Global Reporting Index (GRI) on its annual reports?
Disclosure and Transparency: Are the audited annual financial report/statement released within 30 days upon the receipt from COA?			Date Posted: 4 July 2018 Date of Receipt from COA: 27 June 2018
PENALTY
Responsibilities of the Board
Are there members of the Board of Directors who hold more than five (5) positions in GOCCs and PLCs?			None
Is there non-compliance with Good Governance Conditions?			None