Integrated Report 2023 171 RISK MANAGEMENT APPROACH The Management Committee together with other Senior Management and Divisional Heads are responsible for the continuous development of risk management and in ensuring that risk management is embedded in all key processes and activities within DNeX Group, taking into consideration the changing risk profiles as dictated by changes in business strategies, the external environment and/or regulatory scrutiny. The processes comprise various activities applied at all operating businesses and support function units. The risk owners are primarily responsible for the identification and management of risks within their day-to-day operations. Risks are systematically identified and assessed using the established group-wide risk methodologies and action plans and corrective actions are taken to mitigate risks. The Risk and Business Process Management Department is responsible for the overall coordination of risk management of DNeX Group and works closely with risk owners. The Head of Risk undertakes the coordination of the processes of assessing, monitoring and reporting the risk report to the Risk, Governance and Sustainability Committee and Board on a quarterly basis. The Risk Report presentation is a permanent agenda of the quarterly Risk, Governance and Sustainability Committee and Board meetings to facilitate deliberation on the key risks profile of DNeX Group. As communication is required for an effective risk management programme, the Risk and Business Process Management Department is responsible to lead the ERM educational programmes,continuous sharing of risks insights as well as undertake initiatives to improve the DNeX Group risk management reporting. INTERNAL CONTROLS The Board and Management have established various processes for the internal controls system of DNeX Group which encompasses the structure, governance, policies, processes, tasks, behaviours and other aspects that facilitate effective and efficient operations. It enables DNeX Group to respond appropriately to significant business, operational, financial, compliance and other risks to achieving DNeX Group’s objectives. The key elements of DNeX Group’s control environment include: SEGMENT KEY INTERNAL CONTROL ELEMENTS Group’s Organisational Structure The organisational structure is reviewed periodically to address changes in the business environment and to reflect the level of accountability and empowerment of the Management in all aspects of DNeX Group’s major business environment, operations and functions. It defines a formal line of authority and responsibility that sets out clear segregation of duties to affect a more effective control at various levels of DNeX Group. Competency and Talent Management The Management appoints employees with the necessary competencies to ensure that the personnel driving key operations are sufficiently skilled and exercise the required qualities of professional integrity in their conduct. Training and development programmes are identified to ensure that employees are kept abreast with the constantly changing environment and knowledge in order to be competent in line with achieving DNeX Group’s business objectives. Continuous efforts are also in place to identify and grow the talent beyond the succession pool to ensure that new hires have the right skill sets for the appropriate positions in DNeX Group. Performance monitoring is also established which serves as a tool to monitor performance against the set Key Performance Indicators (“KPIs”), covering key financial, customers, internal business process and learning and growth indicators.
RkJQdWJsaXNoZXIy NDgzMzc=