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MPF – Corporate Governance
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Company Name
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MPF – Corporate Governance
The Corporate Governance Award recognizes MPF Trustees with a robust governance framework, infrastructure and an operating model that addresses the board’s role, responsibility and compensation, risk culture, people, processes and technologies. In addition to complying with the MPFA and SFC guidelines, how is the board’s oversight of the following executed and what are the accomplishments?
1. Has your company signed the Governance Charter for MPF Trustees?
Yes
Not yet, but we have concrete plans to be a signatory before 30 June 2020
No, and we have NO concrete plans to be a signatory
Other responses (Please specify below, maximum 150 words)
Others
2. Do your company’s governance policies, framework and practices exceed regulatory requirements and MPFA’s guidelines?
Yes
Not yet, but we have concrete plans to go beyond regulatory requirements (our responses below are based on these concrete plans)
No, and we have NO concrete plans to exceed regulatory requirements
Others (please specify, maximum 150 words)
Others
3. Which of the following committees do you have in the board of directors (please do NOT include ad-hoc committees)? Please select all applicable answers:
Technology (and/or Disruptions) Committee
Cybersecurity (and/or Data Security) Committee
Risk Management Committee
ESG Committee
Investment Committee
Audit Committee led by an independent non-executive director
Audit Committee led by a director who is also an employee, a shareholder or other interested party of the company or group
Remuneration Committee led by an independent non-executive director
Remuneration Committee led by a director who is also an employee, a shareholder or other interested party of the company or group
Board Evaluation Committee led by an independent non-executive director
Board Evaluation Committee led by a director who is also an employee, a shareholder or other interested party of the company or group
Discipline Committee led by an independent non-executive director
Discipline Committee led by a director who is also an employee, a shareholder or other interested party of the company or group
Nomination Committee led by an independent non-executive director
Nomination Committee led by a director who is also an employee, a shareholder or other interested party of the company or group
Others (please specify, maximum 150 words):
Others
4. What is the Business of the Risk Committee? Please select all that apply:
Proactively identify risk issues
Assessment of risks
Mitigate and Manage risks
Risk controls policies and implementation
Regulatory risks monitoring
We do more than the above – please explain
We do more than the above
5. Please describe the functions, objectives and accomplishments of at least THREE key committees mentioned in Question 3.
(Please elaborate in minimum 200 words, maximum 600 words)
6. How is risk management integrated into the various functions throughout the organization, from the front to middle to back offices?
(Please elaborate in minimum 200 words, maximum 600 words)
7. What is the composition of the board of directors? Please fill in the blanks with
percentages
.
Non-executive independent directors
% are non-executive independent directors
Women
% are women
serving on the board for 5 or more
% have been serving on the board for 5 or more years consecutively
business owners/entrepreneurs
% are or were business owners/entrepreneurs
digital economy expertise
% have digital economy expertise
technology/cybersecurity/IT expertise
% have technology/cybersecurity/IT expertise
ESG expertise
% have ESG expertise
accounting/audit expertise
% have accounting/audit expertise
compliance expertise
% have compliance expertise
risk management expertise
% have risk management expertise (investment/market/credit/geopolitical/operational risks)
sales/marketing expertise
% have sales/marketing expertise
investment expertise
% have investment expertise
Other responses (please specify in maximum 150 words):
8. Does your company have a commitment to board diversity? Please elaborate on the goals, accomplishments and future efforts related to board diversity.
(Minimum 200 words, maximum 600 words)
9. Please explain the the Governance Implementation within your organization as Trustee on the supervision of scheme’s performance and monitoring of the managers behavior and performance, which internal or external roles have responsibility for implementing responsible investment?
Board and/or trustees
Chief-level staff (e.g., Chief Executive Officer (CEO), Chief Investment Officer (CIO), or Chief Operating Officer (COO))
Investment committee
Other chief-level staff
Head of a department
Portfolio managers
Investment analysts
Dedicated responsible investment staff
Investor relations
External managers or service providers
We do not have roles with responsibility for implementing responsible investment
Additional Remarks
10. Please explain the fiduciary duties undertaken to ensure conflict of interests specifically concerning the governance over investment performances and manager selection managed by companies of the same parent group (i.e. Sponsor and Investment Management managed by the same parent companies)?
11. Please elaborate on the procedure where an investment manager triggers an alert and under what circumstances will an investment manager be sacked? Has that happened before and what were the procedures to replace the investments with another manager? How are members’ interests being protected?
12. Describe your company’s principles for managing internal and external stakeholders’ interests, and the rationale behind these principles.
13. Trustee’s Commitment to active engagement/stewardship. Please select the statement(s) that describe your approach to stewardship as Trustee. You may choose more than one statement where applicable:
We have a clearly articulated, explicit, publicly available policy/framework on investing responsibly across ALL our strategies, including non-ESG, non-SRI strategies
We do NOT yet have an explicit, clearly spelled out stewardship policy/framework/principle, but we are in the process of finalizing one within the next 12 months
We do NOT have an explicit stewardship policy/framework -- and do NOT have plans for one -- but we invest responsibly whenever possible across ALL our strategies, including non-ESG, non-SRI strategies
We allow investment strategies that are responsibly ONLY in our ESG, SRI, and/or sustainable strategies. We do not practice responsible investing in other strategies
We are signatories to one or more stewardship principles, but we have no concrete plans to institute a stewardship policy/framework at our firm at the moment
We are not signatories to stewardship principles/codes; we have no stewardship policies, but we are keen to move in that direction within the next 1-2 years
We think stewardship is NOT suitable for the MPF model
We do NOT think stewardship is important to MPF, and we do not feel it's necessary to explain why
Our firm does NOT have a position on stewardship
Additional remarks, if any (maximum 250 words)
14. What is the percentage of the risk committee that is independent?
15. Are there any executives on the risk committee?
Yes
No
16. Does the firm describe business continuity risks related to disruptions of operations?
Yes
No
17. Does the firm link its directors' bonuses to the achievement of long-term goals?
Yes
No
18. Does the firm have a Code of Ethics?
Yes
No
19. Percentage of non-executive directors that have industry-specific expertise
20. Does the firm have country-specific components in their anti-bribery and/or corruption statement or policy?
Yes
No
21. Does the firm provide its employees with training on anti-bribery and/or corruption?
Yes
No
22. Has the firm been involved in any customer-related lawsuits or offenses investigated by a judicial/regulatory process during 12 months?
Yes
No
23. Does the firm discuss or monitor the impact that its products and services have on members?
Yes
No
24. How do you identify potentially fraudulent withdrawals, and please share some of the successful cases in stopping the issues from happening?
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