• Regular Updates on Compliance Report Regular review on Compliance frameworks, policies, guidelines, tools and methodologies are carried out to ensure it remains relevant to the business requirements and the applicable laws and regulations. All Compliance activities undertaken by the Group are regularly reported and deliberated at the BRC. • Human Resources Management The effectiveness of the risk management and internal control system of the Group relies on the responsibility, integrity and sound judgment of its employees. Hence, the Group has established policies and procedures governing the recruitment, appointment, performance management and rewards as well as procedures relating to discipline, termination and dismissal for the employees. Human capital development, talent management and succession planning are given priority to ensure sustainability. • Code of Ethics The Code of Ethics has been established by the Group to ensure a high standard of ethical and professional conduct is upheld by all employees in performing their duties and responsibilities. New recruits are briefed on the Code of Ethics and they have to sign a declaration upon joining the organisation. • Fraud Management Special Investigation Unit (SIU) has been established within the Integrity and Governance Department of Group Compliance Division and it is responsible for assessing complaints received, detection and investigation of any possible internal or external fraud reported. SIU strives to maintain absolute transparency of reporting and independence of investigation without influence from any internal or external parties. The SIU function is overseen by the BAEC and where it involves high profile and/or whistleblowing cases, the Chief Integrity & Governance Officer (CIGO) reports directly to the Designated Independent Non-Executive Director who is also the Chairman of the BAEC. • Whistle Blowing Policy The Whistleblowing Policy has been put in place to provide an avenue for all employees of the Group and members of the public to disclose any unethical or improper conduct within BIMB Group and to provide protection for employees and members of the public who report such allegations. • Anti-Bribery Corruption Policy The Group’s Anti-Bribery and Corruption Policy (ABCP) was developed as part of BIMB’s commitment to integrity and sustainable way of doing business. The ABCP is aligned with all relevant laws and regulations, including the National Anti-Corruption Plan (NACP) and Malaysian Anti-Corruption Commission (MACC) Act 2009. The ABCP underpins a zero-tolerance approach and guides BIMB to ensure that all opportunities on corruption and any action in relation to bribery, conflict of interest, malpractice, abuse of power could be effectively and efficiently addressed as well as ensuring compliance with all applicable anti-corruption policy. • Independent Assurance by the Internal Auditors The Board has established the Internal Audit function to provide independent assurance on the adequacy and effectiveness of the governance, risk management and internal control. The Internal Audit is headed by the Group Chief Internal Auditors who report functionally to the BAEC and administratively to the Group CEO. The internal audit process and activities adopt the standards and principles outlined in the Internal Control Framework of Committee of Sponsoring Organisation of the Treadway Commission (COSO) and the objectives set by the Institute of Internal Auditors’ International Professional Practices Framework which comprises the core principle for the Professional Practice of Internal Auditing, the definition of Internal Auditing and Code of Ethics. STATEMENT ON RISK MANAGEMENT AND INTERNAL CONTROL BANK I SLAM MALAYS IA BERHAD 204
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