2. OUTLINE
1. Statement of Policy and Commitment
2. Governance Organizational Structure
3. Corporate Governance Initiatives
3. STATEMENT OF POLICY
It is the policy of PhilEXIM to actively promote
corporate governance reforms and pursue the
observance of the principles of fairness,
accountability and transparency.
PhilEXIM’s Code of
Corporate Governance
4. COMMITMENT
PhilEXIM is committed to institutionalize the
principles of good corporate governance in the entire
organization.
The Board of Directors, Management and Staff
commit themselves to the principles and best
practices of good corporate governance and will
undertake every effort necessary to create
awareness within the organization.
PhilEXIM’s Code of
Corporate Governance
6. Chief Executive Officer
The President & CEO is ultimately
accountable for PhilEXIM’s organizational and
procedural controls.
PhilEXIM’s Code of
Corporate Governance
8. Align to
Best Practices
Improvement in Organizational & Functional
Definition
1. Re-alignment of functions for clear delineation of duties
and responsibilities
2. Adoption of new Key Results Areas (KRAs)
3. Comprehensive training programs on leadership and
management development
4. Adoption of corporate and employee performance
evaluation, reward and merit system
9. Align to
Best Practices
Institutionalize Risk Management and Control
System
1. Improve Internal Credit Risk Rating System
2. Risk-based Pricing System
3. Risk-based Business Approach (RiBBA) Audit
10. Align to
Best Practices
Adherence to Financial Standards
1. Financial management in accordance with Philippine
and International Accounting Standards (PAS/IAS) and
Basel II
b) Regular participation in seminars conducted by the
PICPA
11. Sound Corporate
Governance
Implementation of PhilEXIM’s Corporate
Compliance Program
An internal self-regulatory mechanism for orderly
implementation of ethical responsibilities and
compliance with laws, rules and regulations, policies
and procedures
Redefinition of the distinct but coordinated roles of the
Board as policy-making body and management as
executor of policies
12. Sound Corporate
Governance
Implementation of PhilEXIM’s Code of Ethics and
Business Conduct
Sets forth the principles and core values of PhilEXIM as
well as policies governing conflict of interest, divestment
and public disclosure
Vetting of members of the Board and strict compliance to
the “Fit & Proper” rule of the Bangko Sentral ng Pilipinas
13. Sound Corporate
Governance
Implementation of the Anti-Money Laundering Program
Participation in the Department of Finance’s Philippine
Corporate Governance (CG) Scorecard for government
corporations and financial institutions
14. Sound Corporate
Governance
Training & Development
PhilEXIM officials led by the BOD actively participates
in corporate governance seminars conducted by the
ICD and ADFIAP
15. Awards & Recognition
In June 2008 was included in Corporate
Governance Circle being one of the top 10
government owned corporations and financial
institutions recognized by the ICD for its corporate
governance initiatives
