Maxis Berhad | Annual Report 2012

Maxis Berhad // Annual Report 2012 218 There is a dedicated ERM department responsible for managing the risk management process within the Group. The following activities were carried out by the ERM department, amongst others, in the discharge of its duties and responsibilities as set out in its charter: • Steered the Group’s Risk Management programme and ensured timely updates of risk profiles by the respective business units; • Provided half-yearly reports to the Audit Committee on the risk profile of the Group and the status of progress towards mitigating the risk areas; • Provided a summary of key risks to the Audit Committee; • Conducted continuous risk awareness, education and review sessions with relevant heads of divisions / departments / risk owners on enterprise risk management best practices and promoted a proactive risk management culture; • Provided assistance to business units to ensure risk management is firmly embedded in their day-to-day operations, and that all key risks are identified and appropriate mitigation plans and controls are in place; • Analysed risk assessment reports from all business units and conducted presentations at the Senior Leadership Team meeting (chaired by the CEO or CFO in the CEO’s absence), for deliberation of risks that impact the annual operating plans and business objectives by Senior Management; • Monitored the results of ERM department’s key performance indicators; and • Provided relevant information on risk management to all Maxis staff via the internal website. The ERM department is continuously strengthening the risk management initiatives within the Group to ensure that it responds effectively to the constantly changing business environment and is thus able to protect and enhance shareholder value. RISK RATING SCALE - 5 BY 5 MATRIX 1. UNLIKELY Likelihood of occurence Impact 1. CATASTROPHIC 2. MAJOR 3. MODERATE 4. MINOR 5. INSIGNIFICANT 2. LOW PROBABILITY 3. POSSIBLE 4. HIGH PROBABILITY 5. ALMOST CERTAIN HIGH MEDIUM LOW RISK MANAGEMENT Continued