RISK GOVERNANCE The Group’s risk governance provides a formal transparent and effective governance structure that promotes the active involvement of the Board and Management in the risk management process to ensure a uniform view of risks across the Group. The following Risk Committees have been established to facilitate the implementation of the Risk Management Framework. The Group’s ultimate governing body which plays a critical role in ensuring sound and prudent policy and practices in the Group. It provides an effective check and balance mechanism in the overall management of the Group. MANAGEMENT RISK CONTROL COMMITTEE (MRCC) Responsible for performing the oversight functions to ensure effective risk management of key issues relating to the overall risk management of the Group. BOARD OF DIRECTORS BOARD COMMITTEES MANAGEMENT COMMITTEES BOARD RISK COMMITTEE (BRC) Responsible for overseeing the Group’s activities in managing the following risks: • Credit risk • Market & Liquidity Risk • Recovery Risk • Operational Risk • Regulatory and Compliance Risk • IT and Cyber Risk • Legal Risk • Shariah NonCompliance Risk • Reputational Risk • Business Continuity Risk • Sustainability risk (including climaterelated risk) • Any other relevant risks BOARD FINANCING REVIEW COMMITTEE (BFRC) Responsible for reviewing all investment and financing/ credit related proposals above specified limits. It has the authority to exercise the right to veto Management’s decisions on investment and financing related proposals. FINANCING COMMITTEES Responsible for reviewing, assessing/ approving credits and investment/ capital market proposals. ASSET & LIABILITY MANAGEMENT COMMITTEE (ALCO) Responsible for overseeing and deliberating key issues relating to Group’s asset and liability management and market risk. BUSINESS CONTINUITY MANAGEMENT COMMITTEE (BCMC) Responsible for • BCM initiatives, plans and programmes implemented within the Group; • Adherence to Group BCM Policy and BNM BCM Policy. OPERATIONAL RISK CONTROL COMMITTEE (ORCC) Responsible for facilitating MRCC in the management of key issues on operational risk. RECOVERY MANAGEMENT COMMITTEE (RMC) Responsible for overseeing recovery issues and related operational strategies on recovery. DATA MANAGEMENT COMMITTEE (DMC) Responsible for overseeing Data Management initiatives and establish appropriate action plan to resolve issues on data management. CLIMATE RISK COMMITTEE (CRC) Responsible for overseeing development and implementation of climate risk management framework. 233 1 2 3 4 5 6 7 8 9 www.bankislam.com ACCOUNTABILITY
RkJQdWJsaXNoZXIy NDgzMzc=