• Management Executive Committees The Management has set up various Management Executive Committees to assist and support the various Board Committees in overseeing the relevant areas of business operations and controls. This includes Group Management Executive Committee (GMEC), Management Risk Control Committee (MRCC), Asset & Liability Management Committee (ALCO), Management Audit Committee (MAC), Management IT Committee (MITC), Management Operations Committee (MOC), three (3) Financing Committees, Business Continuity Management Committee (BCMC), two (2) Tender Evaluation Committees, Sadaqa House & Zakat Committee (SHZC) and Management Sustainability Committee (MSC). • Policies and Guidelines Several policies and guidelines governing the Group’s business and operations have been put in place and are made available to employees via the intranet portal for reference and compliance. These policies and guidelines are regularly reviewed and updated by the respective business and support units to cater for any changes in laws and regulations as well as changes to the business and operating environments. • Performance Review The Board is regularly apprised on the key financial position 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 The Compliance frameworks, policies, guidelines, tools and methodologies are regularly reviewed to ensure they remain aligned with business needs and applicable laws and regulations. The Group’s Compliance activities are consistently reported and discussed at the Board Risk Committee. Additionally, Compliance provides the Board with a Compliance Risk Report, highlighting strategic issues that require the Board’s oversight and attention. • 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 recruitment, appointments, performance management and rewards as well as procedures relating to discipline, termination and dismissal of 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 The Special Investigation Unit (SIU), established within the Integrity and Governance Department of the Group Compliance Division, is tasked with assessing complaints, detecting, and investigating potential internal or external fraud including staff misconduct and complaints received through whistleblowing channels. The SIU is committed to maintaining full transparency in its reporting and ensuring independent investigations, free from influence by internal or external parties. The SIU’s activities are overseen by the Board Audit & Examination Committee (BAEC), and in cases involving high-profile or whistleblowing matters, the Group Chief Integrity & Governance Officer (GCIGO) reports directly to the Board of Directors. Bank Islam Malaysia Berhad ◆ Integrated Annual Report 2024 256 Statement on Risk Management and Internal Control
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