TERMS OF REFERENCE OF BOARD RISK COMMITTEE
e. To assist Board to deliberate risk assessment for high impact business matters including but not limited to:
f. Oversee the effectiveness of Crisis Management, Business Continuity Management and Assurance.
g. Ensure that management considers and implements appropriate risk responses.
h. Liaise closely with the BAC to exchange information relevant to risk.
i. Express the BRC's formal opinion to the Board on the effectiveness of the system and process of risk management.
j. Review reporting concerning risk management that is to be included in the integrated report for it being timely, comprehensive and relevant.
k. Provide report to the Board with reasonable details of its activities on each proceeding of meeting.
a. Assists the BRC fulfill the goals it sets by assigning specific tasks to members of the BRC and identifies guidelines for the conduct of the members and ensure that each member is making a significant contribution.
b. Looks to the Secretary for guidance to the BRC on what their responsibilities are under the rules and regulations to which they are subject to and how those responsibilities should be discharged.
c. Provides leadership to the BRC and ensures proper flow of information to the BRC, reviewing adequacy and timing of documentation.
d. Secures good corporate governance and ensures that members look beyond their BRC function and accept their full share of responsibilities of governance materials in support of management's proposal.
e. Manages the processes and working of the BRC and for ensuring that the BRC discharges their responsibilities.
f. Ensures that every BRC resolution is put to a vote to ensure that it is the will of the majority that prevails. However where possible, a consensus would be preferred.
g. Should engage on a continuous basis with the Senior Management members, such as the MD/CEO, the CFO and relevant key principal officers as well as the external auditors in order to be kept informed of matters affecting the Company.
a. Provide individual independent opinions to the fact-finding, analysis and decision making process of the BRC, based on their experience and knowledge.
b. Consider viewpoints from the other BRC members, make decisions and recommendation for the best interest of the Board collectively.
c. Keep abreast of the latest corporate governance guidelines in relation to the BRC and the Board as a whole.
d. Continuously seek out Best Practice in terms of the processes utilised by the BRC, following which these should be discussed with the rest of the BRC for possible adoption.
a. Have the authority to investigate any matter within its term of reference.
b. Have resources which are required to perform its duties.
c. Have full and unrestricted access to any information pertaining to the Company.
d. Obtain advice from independent professionals or those with relevant experience and invite them (if necessary) to attend the BRC meetings to brief the BRC on specific matters.
e. Report formally to the Board on its proceedings after each meeting on all matters within its duties and responsibilities, including such recommendations and findings for the Board's approval and information, as applicable.
f. Provide assurance to the Board and to the BAC if so delegated by the Board on the management and mitigation of specific risks and the scope and quality of risk management processes.
g. Make recommendations to the Board that it deems appropriate on any area within the ambit of its terms of reference where action or improvement is required.
- Disclosure of Interests
- Confirmation of Minutes and Matters Arising thereof
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