Leading the signing ceremony were GCG Chairperson Justice Alex L. Quiroz and PDIC President and Chief Executive Officer Roberto B. Tan. Also present were GCG Commissioners Gideon D.V. Mortel and Geraldine Marie Berberabe-Martinez; PDIC Senior Vice President Sandra A. Diaz and PDIC General Counsel Maria Antonette Brillantes-Bolivar.
Prior to the signing of the performance scorecard, the GCG and the PDIC discussed in the Technical Panel Meeting in November 2022, the proposed measures and targets in the 2023 Performance Scorecard.
The GCG is mandated by Republic Act No. 10149 (GOCC Governance Act of 2011) as the central advisory, oversight, and monitoring body for GOCCs in institutionalizing transparency, accountability, financial viability and responsiveness by monitoring and evaluating GOCCs’ performance. The performance scorecard is the primary governance and management tool that facilitates effective and efficient monitoring of the achievement of the GOCC’s organizational goals and strategic objectives.
In its performance scorecard, the PDIC committed strategic objectives to raise public awareness on deposit insurance to contribute in building depositor confidence in the banking system and in promoting financial inclusion; maintain the Deposit Insurance Fund to adequately cover deposit insurance costs; ensure efficient budget utilization; enhance client experience in PDIC services; settle valid deposits/claims of depositors in closed banks within applicable processing time; contribute to financial stability by ensuring financial crisis preparedness; improve the competency of the Corporation’s human resource; and build a responsive organization that adheres to ISO standards and equipped with the necessary ICT and other systems to support operations.
The strategic objectives ensure the achievement of the goal of PDIC to be a leading institution in governance, recognized for its operational excellence in depositor protection and liquidation of banks closed by the Monetary Board, and also for its responsiveness to changing times, thus promoting financial stability. These objectives are designed to enhance the pursuit of its mandate to protect the depositing public and promote financial stability. (SPONSORED CONTENT)