Page 151 - Full Book_24.4.2021

In Retrospect

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The Will to Suceed

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GrOup rISk ManaGeMent COMMIttee
At the Management level, the BRC is supported by the Group Risk Management Committee (“GrMC”) to help monitor and evaluate
the effectiveness of the Group’s risk management and that internal controls are in place and functioning effectively. The GRMC is Achieving a Leading Repute
chaired by the Chief Risk Officer of Bank Islam. The other members of the GRMC are the Group Chief Financial Officer, Chief Risk
Officer and Chief Compliance Officer of each key operating subsidiaries as well as the Chief Economist of Bank Islam and BIMB
Securities.
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Paving the Way for a Sustainable Future
The GRMC is responsible for:
• developing and co-ordinating the Company’s risk management framework within the Group on an on-going basis;
• consolidating, assessing and reporting risk information from across the Group; and
• ensuring the implementation of risk management process across the Group.

The Company risk management process is a step-by-step process as follows:

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Risk Identification
RISK ASSESSMENT Risk Analysis RISK TREATMENT
Adhering to the Best Governance Practices
Risk Evaluation
STEP 1 STEP 2

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During the year under review, the GRMC perFOrManCe revIeW OF tHe brC
met seven (7) times. The GRMC collates
and reports to the BRC the risk associated The BRC continues to diligently exercise its risk oversight responsibilities by ensuring that
to the subsidiaries. The risks include credit risk management is an integral part of strategic planning and decision-making for the Laying the Foundation for Financial Growth
risk, market risk and operational risk. achievement of the Group’s strategic and long-term objectives.
Emerging issues and compliance risks are
also deliberated in the GRMC meetings Based on the Board evaluation 2020, the Board is satisfied with the performance of the
and further action is taken by the relevant BRC and its members and that it has discharged its responsibilities in accordance with its
key operating subsidiaries prior reporting mandate and Terms of Reference. |
the same to the BRC.
Additional Information & Disclosure Summary

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24 th AGM Information