| QUESTION | COMPLIANCE | ANS | SUPPORTING DOCUMENTS |
|---|---|---|---|
| 11.a Has the Board of Directors reviewed the vision and mission/ strategy in the last financial year? |
LLFC Annual Report page 4 Prior to submission to GCG, the Vision, Mission and Strategy as part of the 2024 Annual Performance Scorecard was discussed, reviewed and approved by the Board of Directors during its regular meeting on 18 August 2023 which include its Charter Statement, Strategy Map and Targets. |
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| 11.b Does the Board of Directors monitor/oversee the implementation of the corporate strategy? |
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| 13.a Are the details of the code of ethics or conduct disclosed? |
LLFC 2024 Annual Report page 23 - Code of Ethics and Conduct, No Gift Policy
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| 13.b Does the GOCC disclose that all Directors/Commissioners, senior management and employees are required to comply with the code? |
Human Resource Management Policies and Procedures Manual (LLC-CSG-PM-018.01) - Chapter IX - Employee Relations and Compliance - Code of Conduct and Employee Discipline - Statement of Policy |
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| 13.c Does the company disclose how it implements and monitors compliance with the code of ethics or conduct? |
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| 14. Does the Board appoint a Nomination Compensation / Remuneration Committee? |
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| 15. Did the Nomination Compensation/Remuneration Committee meet at least twice during the year? |
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| 16. If yes, is the report of the Nomination Compensation/ Remuneration Committee publicly disclosed? |
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| 17. Does the Board appoint an Audit Committee? |
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| 18. If yes, is the report of the Audit Committee publicly disclosed? |
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| 19. Does at least one member of the Audit Committee have an audit, accounting or finance background (qualification or experience)? |
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| 20. Did the Audit Committee meet at least four times during the year? |
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| 21. Does the Board appoint a Risk Management Committee? |
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| 22. If yes, is the report on Risk Management Committee publicly disclosed? |
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| 23. Does at least one member of the Risk Management Committee have a background in finance and investments? |
LLFC Annual Report page 16, 105, 107, and 110 3 out 4 members of the Risk Management Committee has a background in finance namely Dir. Sangutan, Dir. Kong, and Dir. Damasco |
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| 24.a Are the Board of Directors meetings scheduled at the beginning of the year? (end of Q1) |
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| 24.b Does the Board of Directors meet at least monthly? |
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| 24.c Did the Board of Directors meet on at least 75% on their scheduled meetings? |
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| 24.d Has each of the directors/commissioners attended at least 90% of all the board meetings held during the year? |
Disclosed in LLFC website - Board of Directors Attendance 2024 |
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| 24.e Did the Board of Directors meet separately at least once during the year without the President/CEO present? |
LLFC Annual Report 2024 page 8 During its December 17, 2024 meeting, the BOD held a meeting without the President/CEO, Mr. Michael P. Arañas present. |
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| 25.a 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? |
LLFC Annual Report 2024 page 8 Release of Materials and Conduct of Meeting |
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| 25.b Is the Board Secretary trained in legal, accountancy or company secretarial practices? |
Atty. Reo S. Andarino - Corporate Secretary (January 1 to September 19, 2024) Holds a degree in Bachelor of Laws/Juris Doctor from Adamson University School of Law. He also holds a degree in Master's in Mass Communication. Currently, he is the Officer-In-Charge of Overseaas Filipino Bank. Atty. Maximillian King Z. Fernandez - Corporate Secretary (assumed on September 19, 2024) Atty. Fernandez holds a degree in A.B. Psychology, with a minor in Literature, from Ateneo de Manila University. He then earned his Bachelor of Laws from San Beda College of Law and currently serves as the Legal Officer at the Bank. |
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| 26.a Does the company have a separate internal audit function? |
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| 26.b Does the appointment and removal of the internal auditor require the recommendation of the Audit Committee? |
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| 27.a Does the company disclose the internal control procedures/risk management systems it has in place? |
LLFC Annual Report 2024 page 21 - Risk Management Certification on the Adequacy of LLFC Internal Control, Risk Assessment and Governance |
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| 27.b 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? |
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| 27.c Does the company disclose how key risks are managed? |
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| 27.d Does the Annual Report contain a statement from the Board of Directors or Audit Committee commenting on the adequacy of the GOCC's internal controls/risk management systems? |
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| 28. Do different persons assume the roles of Chairman and CEO? |
Disclosed in LLFC Website - About Us |
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| 29.a Does the GOCC have orientation programs for new Directors? |
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| 29.b Does the GOCC have a policy that encourages Directors/Commissioners to attend on-going or continuous professional education programs? |
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| 29.c Did all Appointive Directors attend at least 1 training for the calendar year? |
Disclosed in LLFC website - Board of Directors Trainings 2024 |
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| 30.a Is an annual performance assessment conducted of the Board of Directors? |
Disclosed in LLFC website - Result of Board Self-Assessment |
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| 30.b Does the GOCC disclose the process followed in conducting the Board assessment? |
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| 30.c Does the GOCC disclose the criteria used in the Board assessment? |
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| 31. Is an annual performance assessment conducted of the Board of Directors Committees? |
Disclosed in LLFC website under Corporate Governance Seal - Board Level Committee Assessment 2024 - Executive Committee - Corporate Governance Commiittee - Audit Committee - Risk Management Committee - Related Party Transactions Committee |