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MiMAP Workshop Series: Understanding Governance

Posted at October 21, 2016 | By : | Categories : Newsletter | 0 Comment

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The Microinsurance MBA Association of the Philippines, Inc. (MiMAP), in cooperation with the Insurance Commission (IC), held a workshop on Governance and Anti-Money Laundering Act (AMLA) last October 22-23, 2015. It aimed to provide learning session on corporate governance and deeper understanding of the AMLA, also known as Republic Act 9160, which is specifically designed for mutual benefit associations. Representatives of the Board and the management of different MBAs attended the workshop, which was held at BSA Twin Towers Ortigas, Mandaluyong City.

            Several key speakers, including those from the Insurance Commission, shared their expertise on topics such as basic principles of and accountability in corporate governance, governance in SEGURO indicators, implementing rules and regulations of AMLA and its salient provisions.

Pascuala Genoso, former BOT President of CARD MBA, and Wenifreda Rodriguez, former BOT Treasurer of KMBA, shared personal stories of growth and transformation to inspire the new Board of Trustees in leading and empowering their members. The Board of Trustees is mainly in charge of setting and formulating long term strategies, and establishing systems for monitoring and accountability.

Lee Malapad, Training and Consultancy Manager of MiMAP, said that “the workshop generally aims to enhance the capacity of Mi-MBAs in understanding governance, provide the opportunity for newly elected Mi-MBA Board of Trustees to experience governance training specific for mutuals and be given a simple overview of the Anti-Money Laundering Act at a lesser cost to their association”.

            Meanwhile, Jun Jay Perez, Executive Director of MiMAP, shared different factors in monitoring that should be considered by the Board for excellent performance management. All these factors, along with other points discussed during the workshop were synthesized through the “Making Mutuality Work” draft framework presented by Camilo Casals, MiMAP Advisor.