RCBC adheres to the basic principles of good corporate governance, namely: transparency, accountability and fairness.
The Bank's corporate governance policies and rules are embodied in the board-approved Corporate Governance Manual which is updated and revised annually, with the objective of continually aligning the Bank's policies with the BSP and SEC issuances as well as international best practices on corporate governance. This also ensures that the interests of stockholders and stakeholders are always taken into account, the directors, officers, and employees are aware of their responsibilities and the business of the bank is conducted in a safe and sound manner.
The Corporate Governance Manual covers the following:
Treatment of Clients
As a service-oriented organization, all employees are expected to provide consistent, excellent and reliable service to both internal and external clients. The Bank adopts and trains its associates to abide by the following Service Formula:
Preparation + Interaction + Follow-through = Service Beyond Expectations
Treatment of Bank Assets
All employees are mandated to protect the Bank's assets and to use the same for authorized business purposes only. Guidelines for the Treatment of Bank Assets is divided into four (4) major categories: (1) Proprietary Information; (2) Bank Funds and Property; (3) Bank Records; and (4) Goodwill and Reputation.
Treatment of Others
Living out the Bank's Core Values in day-to-day interaction with colleagues assures a work environment that is harmonious, productive, work inspiring, healthy and safe, free from discrimination, harassment and intimidation. Attitudes and behavior that undermine this goal hampers productivity and discourages meritorious performance, thus, are not tolerated.
This section also includes the Bank's Anti-Sexual Harassment Policy, including the procedure for investigation and resolution of complaints involving sexual harassment.
Conflict of Interests
The Bank's policy on conflict of interests is simple - Do not compete with or unduly benefit from RCBC or any of the Yuchengco Group of Companies and never let business dealings on behalf of RCBC be influenced by personal or family interests.
Knowledge, Understanding and Compliance
All employees must ensure understanding of and compliance with all Bank policies and Philippine laws directly affecting his/her employment.
Code of Discipline
Breach of the Code of Conduct is subject to the Code of Discipline which sets forth the types of penalties which may range from reprimand, warning, suspension without pay, termination or dismissal from employment, payment, demotion and/or reduction of pay/benefits, and permanent transfer depending on whether the type of offense is minor, serious, or grave. There are specific penalties attached to specific offenses.
Note: The standards of conduct for the Board of Directors is set forth separately in the Bank's Corporate Governance Manual.