Institutional Money Laundering/Terrorism Financing/Proliferation Financing (ML/TF/PF) Risk Assessment (IRA) Methodology • Developed and established a comprehensive Institutional ML/TF/PF Risk Assessment (IRA) methodology with the aim to create a standardised approach for assessing risks associated with ML, TF, and PF within the Group. Incentive Programme for Targeted AML Analysts • Designed and implemented ‘Booster’ Programme, a performance incentive initiative specifically tailored for targeted Level-1 analysts in the Surveillance team. The program effectively enhanced both productivity and quality assurance performance among analysts. Anti-Money Laundering/Countering Financing of Terrorism (AML/CFT) Controls Enhancement • Continuously refined AML/CFT monitoring rules and parameters to ensure relevance and enhance detection capabilities through more effective alert generation. • Developed comprehensive Institutional Risk Assessment (IRA) guidelines, incorporating best practices in risk assessment methodologies to ensure the effective execution of ML/TF/PF risk assessments. • Currently in Phase 3 of the new AML system implementation, aimed to deliver a modern and robust AML solution to better manage financial crime risks. • Automated dashboard to enhance timely reporting, strengthen analytics capabilities, improve data processing efficiency, and provide a more user-friendly interface. Compliance Game Show • Hosted the Group’s first compliance-themed game show, designed to educate participants on key compliance concepts, regulatory requirements, and general knowledge, using an interactive and entertaining format. Integrity Day Outreach Programme • Conducted an outreach programme at Universiti Sains Islam Malaysia (USIM) featuring an integrity forum titled “Integrity-Born, Greatness-Bound.” The forum highlighted the role of ethical leadership and personal integrity in achieving long-term organisational success. This event aligned with National Integrity Day (5 November) and International Anti-Corruption Day (9 December). Introduction of the Regulatory Compliance Portal • Launched a centralised portal to serve as a repository for policies and guidelines issued by regulators. The portal enhances accessibility and efficiency, allowing Bank Islam staff to easily access non-sensitive regulatory documents. Group-Wide Corruption Risk Assessment (CRA) • Developed an enhanced corruption risk register to anticipate likelihood and impact of potential corruption risk, identify schemes and linking to specific controls and action plans, completed in May 2024. The risk assessment approach not only limited to specific corruption risks but also expanded to include generic corruption risks relevant across the organisation. Regulatory Risk Guidance • Issued a memo and conducted a sharing session to educate staff in business and support units on regulatory risk assessments related to products and programs. KEY COMPLIANCE INITIATIVES & ACTIVITIES FOR FY2024 253 www . b a n k i s l am. c om 01 02 03 04 05 06 07 ACCOUNTABILITY 08 09
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