- Whistle-blowing Policy
Employees, directors, stakeholders, clients, service providers and other third parties are encouraged to report, in good faith, knowledge of any misconduct, irregularity or act detrimental to the interests of the Bank and its stakeholders.
The reporting party or otherwise referred to as the “whistleblower” has choice of communication channels to report any knowledge of misconduct or irregularity. The report may be through the normal channel of reporting bank concerns which is through the direct supervisor/manager of the personnel or officer involved in the reportable behavior. However, if the reported misconduct or irregularity is not acted upon by the direct supervisor or in the judgment of the whistleblower, the direct supervisor is not in a position to address his report, the whistleblower may email his/her report to: #WhistleBlowingCommittee@easwestbanker.com or call any of the following Designated Officers:
|Chief Audit Executive
||(02)464-2500 Local 2121
|Chief Risk Officer
|Chief Compliance Officer
If the issue to be reported is serious and sensitive, the whistleblower may directly approach the President and CEO or the Chairman of the Board of Directors. A member of the Board of Directors reporting an activity under this policy may raise his concerns to the Chairman of the Audit Committee, Chairman of the Corporate Governance Committee or the Chairman of the Board of Directors.
The whistleblower may disclose his/her identity or opt to remain anonymous. However, sufficient information must be provided to aid in the investigation of the reported misconduct, irregularity or improper activity. The whistleblower should refrain from obtaining evidence for which he/she does not have right of access but his/her cooperation in the investigation, if needed, is expected.
Ample protection is accorded to a whistleblower which includes, among others: (i) Confidentiality of identity and of the information reported; (ii) Non-retaliation against the whistleblower; (iii) Protection and security of his/her person and his/her family; (iv) Transfer to another unit; and/or, (v) Reinstatement to the same or comparable position and back benefits and pay, if warranted by the circumstances.
On the other hand, any person implicated in the reported act is accorded the right to be informed of the act he/she is alleged to have committed, its penalties or consequences, the right to counsel of his own choice, the right to be heard and present evidence on his/her defense, and the right to be informed of the resolution of the investigation or action taken.
This policy sets forth a reporting process beyond the normal reporting line to provide an alternative venue for reporting any irregularity, misconduct or suspicious activities to the Management but this is without prejudice to established procedures of the Bank in handling disciplinary cases under its Code of Ethics and Discipline.
- Conflict of Interest
The Bank, in its commitment to ensure the transparency and fairness in dealing with all its stakeholders, has established policies to avoid potential conflict of interest. Conflict of interest is defined as any situation in which the Bank’s directors, officers and employees have a competing interest against the Bank or its customers.
As a general rule, all Directors, Officers and Employees of the Bank shall not engage in any transaction that may be construed as having conflict of interest with the Bank or its customers. Although, it is not possible to enumerate all situations which could constitute a conflict, the facts and merits of each situation shall determine the interest in question to bring it within the area of potential conflict. Conflict of interest of all employees shall be governed by the Code of Ethics and Discipline and any inquiries and request for clarification on this matter shall be referred to the Human Resources Group. This shall be discussed with the employee’s immediate Supervisor and Chief Compliance Officer.
In case of doubt, any material matter that poses conflict of interest shall be vetted by the Corporate Governance and Compliance Committee and endorsed to the Board for approval.
- Insider Trading
The Bank is committed to preserving the confidentiality and preventing the misuse of any sensitive, confidential or material information. It is the Bank’s policy that, unless the information has been widely disseminated to the public, any director, officer and employee who has sensitive or material information about the Bank or its products or services, cannot apply for, acquire or dispose of such financial products or Bank securities to which the inside information relates, or enter into an agreement to do any of those things, either for himself or for another person. Information generally would be considered widely disseminated if it has been disclosed broadly to the marketplace, such as through a press release, SEC filing, PSE disclosure, or placement on the Bank’s website as may be warranted by the situation. By contrast, information would likely not be considered widely disseminated if it is available only to limited people within the Bank.
As a listed Bank, it is governed by the Philippine Stock Exchange (PSE) and the Securities and Exchange Commission (SEC) on disclosure of trading transactions of its Directors and Principal Officers. Principal Officers of the Bank shall pertain to all Bank officers with a rank of Senior Vice President and up, all Heads of the Governance units regardless of rank and Unit Heads of the key business units regardless of rank. All Bank Directors and Principal Officers shall observe the pre-clearance of trade prior to engaging in any trading transactions. They shall likewise inform the Investor Relations Office and the Office of the Corporate Secretary on their trading transactions no later than one (1) banking day after the transaction is executed.
- Related Party Transactions Policy
In line with the Bank’s thrust to promote transparency, any Related Party transaction shall be on an arms-length basis and no favorable or special treatment shall be afforded to such related party unless the same treatment shall be accorded to all parties similarly interested in such dealing.
All Related Party Transactions shall be reviewed and vetted by the Corporate Governance and Compliance Committee, which serves as the Board’s Related Party Committee. This Committee is composed of 5 Board members, 3 of whom are independent directors. Furthermore, the Chief Compliance Officer and the Chief Audit Executive sit as non-voting members in the said committee whenever there are Related Party Transactions for vetting. Upon approval, the transactions shall be endorsed and presented to the Board for approval. All approved Related Party Transactions are reported to the Bangko Sentral ng Pilipinas in accordance with the regulatory reporting requirements.
- Policy and Data Relating to Health, Safety and Welfare of Employees, including company-sponsored trainings
We believe that caring for the health and well being and the safety and security of our employees is important to having sound corporate governance. Thus, we provide HMO and group life insurance coverage to all our full-time employees and a retirement benefit plan that helps them reap the benefits of long years of hard work. Through EastWest’s Learning Academy, we create a learning environment that gives our people opportunities to gain knowledge, continuously hone their skills and sharpen their competencies. We have an employee relations council composed of representatives from various units that ensures that the interests and concerns of our employees are heard and properly addressed.