Risk Management Committee

The Risk Management Committee serves a term of three years. A director retiring by rotation may be re-elected. The Committee report directly to the Board of Directors and perform their tasks as assigned by the Board of Directors.

Duties and Responsibilities of the Risk Management Committee

1. To review the Company’s risk management policy and framework, which would cover all the major risks; namely financial risk, investment risk, and corporate reputation risk, before proposing them to the Board of Directors for approval.
2. To formulate risk management strategies and framework in compliance with the Company’s risk management policy. The Committee shall assess, monitor and control risk at the appropriate level.
3. To monitor and ensure that risk management activities are in line with the Company’s policy and framework approved by the Board of Directors.
4. To set risk measurement criteria and acceptable risk level.
5. To set appropriate risk management measures to cope with different situations
6. To review the adequacy and effectiveness of risk management policy and system as well as the compliance with the established policy.
7. To report regularly to the Board of Directors about the management, operation, risk status, changes and areas of improvement to ensure the compliance with the Company’s policy and strategy.
8. To appoint a risk management working group as necessary.
9. To provide the risk management working group with necessary factors, such as personnel, budget and other resources as per the scope of their responsibilities.