PHINMA Enterprise Risk Management Program

The PHINMA Enterprise Risk Management Program provides a framework for a coordinated effort among the company’s board of directors, management, employees, and advisors aimed at the management of risks which could prevent the achievement of business objectives. The Enterprise Risk Management Program is formally integrated with the Company’s annual strategic planning process ensuring that risk management resources are provided for and that risks identified and managed are relevant to the company’s strategic objectives. Aside from the formal annual process, other venues are provided for risks to be discussed and managed more frequently or as needed. The overall objective of the Program is to attain business objectives, increase shareholder value, build a resilient organization, and sustain PHINMA’s mission of making life better for Filipinos.

PHINMA’s risk initiatives began in 2013 as the Business Continuity Management Program, which eventually evolved into the broader-scoped Business Resiliency Program. Today, various risk initiatives which incorporate international best practices as well as risk matters under the Corporate Governance requirements of the Philippine Securities and Exchange Commission fall under the PHINMA Enterprise Risk Management Program.

PHINMA’s Enterprise Risk Management Program aims to:

  • Identify key risks which may prevent the achievement of strategic objectives and appropriate management and mitigating plans are in place
  • Regularly review the Risk Management Program to ensure continuous improvement in line with best global practices
  • Comply with risk management matters as required under the Corporate Governance Code of the Philippine Securities and Exchange Commission
  • Ensure that all business continuity plans are tested and reviewed on a regular basis to safeguard and recover critical business processes and operations in a timely manner with minimal disruption to the businesses in the event of a calamity or similar event.