• Performance Review The Board is regularly apprised on the key financial performance of the Bank and its major subsidiaries at every Board meeting and where necessary, the Board may instruct the Management to take necessary actions to resolve any issues identified in a timely manner. • Regular Updates on Risk Management Report Risk Management frameworks, policies, guidelines, tools and methodologies are regularly reviewed and updated to ensure relevance to the current business environments and regulatory requirements. The risk management report of the Bank and its major subsidiaries are also regularly deliberated at the Board Risk Committee, where any key risk issues will be highlighted for discussion. • 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 Board Risk Committee. Compliance Division also reports to the Board through its Compliance Risk Report on strategic issues that require oversight and attention of the Board. • Human Resources Management The effectiveness of the risk management and internal controls systems 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 and Code of Conduct The Code of Ethics and Code of Conduct have 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 employment. • 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 Group Chief Integrity & Governance Officer (GCIGO) reports directly to the Board of Directors. • Group Ethical Wall Policy and Control Room Function The Group Ethical Wall Policy (EWP) was introduced to outline Bank Islam Group’s principles on handling and controlling Material Non-Public Information (MNPI) and Price Sensitive Information. This policy also governs our subsidiaries namely BIMB Investment Management Berhad and BIMB Securities Sdn Bhd. The main objective of the policy is to provide direction on the handling/control of confidential and MNPI to ensure there are no conflict of interest or personal financial gains derived from misuse of the sensitive information. This is operationalised through the set-up of the “Control Room” function which periodically reviews the personal account trading of employees categorised as Permanent Insiders and Access Employees including monitoring any wall crossing activities. With this implementation, it is expected that the principle of due care and fair dealings are further heightened where MNPI and other sensitive information are properly managed/safeguarded thus contributing to the integrity of the Financial Wholesale Market. • Group Whistleblowing Policy The Group 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 Bank Islam Group and to provide protection for employees and members of the public who report such allegations. An enhancement has been made 241 1 2 3 4 5 6 7 8 9 www.bankislam.com ACCOUNTABILITY
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