PDIC recognized for certified QMS
The Philippine Deposit Insurance Corporation (PDIC) was one of 11 government-owned or -controlled corporations ( GOCCs) and 41 other public service institutions recognized by the Government Quality Management Committee (GQMC) during the 5th Recognition Ceremony for Government Organizations with ISO-certified Quality Management Systems (QMS).
The PDIC was recognized for its successful attainment of ISO 9001:2008 certification for its QMS on assessment of member-banks. Senior Vice President Sandra A. Diaz (management services sector) and Assistant Vice President Elaine B. Deticio (insurance support department) received the recognition on behalf of PDIC.
The assessment of member-banks was certified to ISO 9001:2008 standards in 2016. It covers assessment collection from banks with the corresponding issuance of official receipts, and the conduct of assessment audit on the banks’ declaration in their respective certified statements.
Assessments paid by member-banks at an annual flat rate of 1/5 of one percent of their total deposit liabilities are added to PDIC’s Deposit Insurance Fund (DIF) to continuously build up its adequacy level to respond to potential insurance calls. The DIF is the corporation’s main fund source for payout of valid deposit insurance claims.
In addition to the assessment of member-banks, PDIC has another frontline service that is also certified under ISO 9001:2008 standards: the QMS for claims settlement operations, which recently passed recertification audit and has been ISO-certified since 2010.
It involves various functions from pre-settlement examination, claims processing and settlement, information dissemination, and other support services in the payment of deposit insurance. As deposit insurer, PDIC is mandated to settle valid deposit insurance claims up to the maximum deposit insurance coverage of P500,000 per depositor, in case of bank closure.
Chaired by Budget Secretary Benjamin E. Diokno, the GQMC is mandated to encourage and promote improved public sector performance through the adoption of ISO 9001 QMS in all government agencies, and to recognize citizen-driven government organizations that have attained ISO 9001 certification.
The GQMC is co- chaired by the Department of Trade and Industry and its other members include the Department of the Interior and Local Government, the Office of the President–Internal Audit Office, and the Development Academy of the Philippines. /