NOTES TO THE FINANCIAL STATEMENTS 31 DECEMBER 2023 324 WE ARE KENANGA LEADERSHIP MESSAGE VALUE CREATION MODEL KENANGA INVESTMENT BANK BERHAD ANNUAL REPORT 2023 51. FINANCIAL RISK MANAGEMENT (CONT’D.) (c) Liquidity risk (cont’d.) (ii) Maturity analysis of financial liabilities on an undiscounted basis (cont’d.) Bank 2022 Up to 1 month RM’000 >1 to 3 months RM’000 >3 to 6 months RM’000 >6 to 12 months RM’000 >1 year RM’000 Non specific maturity RM’000 Total RM’000 Financial liabilities Deposits from customers 1,969,437 913,107 398,864 64,377 - - 3,345,785 Deposits and placements of banks and otherfinancial institutions 380,124 37,376 - - - - 417,500 Derivative financial liabilities 286 991 1,833 13,386 - - 16,496 Balances due to clients and brokers 262,976 - - - - - 262,976 Borrowings - 2,826 2,826 2,423 268,951 - 277,026 Other liabilities balances 106,167 7,705 3,374 3,439 14,603 134,487 269,775 Total undiscounted financial liabilities 2,718,990 962,005 406,897 83,625 283,554 134,487 4,589,558 (d) Operational risk Operational risk is the risk of loss resulting from inadequate or failed internal processes, people and systems or resulting from external events. Operational risk is managed through an effective operational risk management framework which include development of policies, processes and procedures for managing operational risk in the Group, independent review of the risk management function by internal audit and oversight by the Management and Board of Directors. The operational risk management processes include identifying and assessing operational risks of the Group and operational risk loss data collection to track the factual information which can assist the organisation and business and support units to effectively understand where their real risks exist, identify control weaknesses, underlying causes and introduce controls to strengthen the weaknesses. Any actual, near-miss or potential losses from any operational risk loss events are to be reported to Management.
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