112 WE ARE KENANGA LEADERSHIP MESSAGE VALUE CREATION MODEL KENANGA INVESTMENT BANK BERHAD ANNUAL REPORT 2023 STATEMENT ON RISK MANAGEMENT AND INTERNAL CONTROL Governance The Board, through its appointed committees such as the Group Board Risk Committee (“GBRC”) and Group Board Digital Innovation & Technology Committee (“GBDITC”), ensures that the Group’s activities are consistent with its approved risk appetite, strategies and policies. The GBRC is supported by the Group Risk Committee (“GRC”) that provides a forum to address and review the management of credit, operational, market, liquidity, technology and other significant risks including climate change risk, to enable effective oversight, accountability and responsibilities for risk taking decisions. Assisting the GRC is the Group Operational Risk Committee and the Group Business Continuity Management Committee. The GBDITC on the other hand, focuses on technologies and Information Technology (“IT”) risk of the Group at the Board level and is supported by the Group Digital Innovation Technology Committee which covers the Group’s technology plans and projects. Quarterly meetings are held by the Audit Committee (“AC”) together with Management to review issues highlighted in the reports by internal and external auditors, as well as audits conducted by regulators such as Bank Negara Malaysia (“BNM”), the Securities Commission Malaysia (“SC”) and Bursa Malaysia; and the remedial measures or actions taken by Management in addressing the audit findings raised by the regulators. The Group Governance, Nomination & Compensation Committee (“GNC”) was established with the objective, among others, to support the Board in the effectiveness and the enhancement of the Group’s governance structure, framework and policies and its compliance with the applicable statutory and regulatory requirements in relation thereof, including but not limited to, the MMLR of Bursa Malaysia, BNM’s Policy Document on Corporate Governance, the MCCG and the Malaysian AntiCorruption Commission Act 2009, as well as the relevant latest developments in the corporate governance area. Board Committees Management Committees Group Board Risk Committee Group Credit Committee Building Committee Group Products Committee Staff Outreach Committee Group Outsourcing & Procurement Committee Corporate Finance Senior Officer Committee Group Risk Committee Group Governance, Nomination & Compensation Committee Group Board Digital Innovation & Technology Committee Group Digital Innovation Technology Committee Group Executive Committee Employees’ Share Scheme Committee Audit Committee Shariah Committee BOARD OF DIRECTORS Group Sustainability Management Committee Group Talent Committee Group Disciplinary Committee Group Operational Risk Committee Group Business Continuity Management Committee
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