Page 62 - EXIM_AR2021

60 ENHANCING EXIM BANK MALAYSIA
GOVERNANCE

STATEMENT OF

CORPORATE GOVERNANCE

4 Processes and Technology
• To ensure sufficient internal controls are embedded in the Bank’s daily activities to detect any deficiencies in the internal
control environment in a timely manner.
• Oversee and review the independence and robustness of risk management processes throughout the Bank and recommend
the Bank’s key risk control and mitigation processes to the Board for approval.
• Periodically review risk exposures of the Bank in line with its risk strategy and objectives.
• Delegating predetermined specific authority to the Management, Audit, Risk and Compliance Committee (MARCC) or
Senior Management to approve specific deviations and the extent of these deviations from limits.
• Review and recommend the contingency plan for dealing with various extreme internal/ external events disasters.
• Ensure adequacy of tools, systems, processes and resources for the control functions including proper oversight of risk
management as well as data recording, accuracy, record maintenance and retention.

The BRC met twelve (12) times during the financial year ended 31 December 2021. Members of the BRC and details of the
meeting attended by the members are stated on page 61 of this Annual Report.

Nomination and Remuneration Committee (“NRC”) (ii) Recommend suitable candidates to the Board for the
appointment and reappointment in the Board, Board
The primary objectives of the NRC are as follows: Committees, SC and the P/CEO taking into consideration

(i) Providing a formal and transparent procedure and amongst others the fit and proper assessment that the
support to the Board in carrying out its function in individuals should bring to the Board.
overseeing the following matters concerning the Board, In the case of candidates for the position of Independent
Board Committees, Directors, SC, P/CEO and Senior Directors, the NRC shall also evaluate the candidates’
Management:- character and judgment to discharge such responsibilities/
(a) Appointments, reappointments and removals. functions as are expected from Independent Directors.
(b) Composition. (iii) Recommend candidates to the Board for the appointments
(c) Performance evaluation and development. and reappointments of Senior Management based on the
(d) Fit and proper assessments. fit and proper assessment.
(ii) Supporting the Board in overseeing matters relating to (iv) Assess annually the performance and effectiveness of
the remuneration policy and packages for the Directors, the Board, Board Committees and the contribution of
SC members, P/CEO and Senior Management of the each individual director in discharging their duties.
Bank including various incentives or retention schemes (v) Assess the performance and effectiveness of the Senior
implemented by the Bank. Management in discharging their duties including the
The NRC comprises three (3) members (including the NRC setting of appropriate performance target parameters for
Chairman) majority of whom are INEDs and is chaired by an each financial year.
INED. (vi) Oversee the succession planning framework for the
The roles and responsibilities of the NRC are as follows: Board and Senior Management.
Nomination functions: (vii) Ensure all Directors undergo an appropriate induction
programme and receive continuous training in order to
(i) Oversee the overall composition of the Board, Board keep abreast with the latest developments in the industry.
Committees and SC in terms of size, skill and the balance
between Non-Independent Non-Executive Directors (viii) Oversee and recommend to the Board on the Human
(“NINEDs”) and INEDs and recommend to the Board the Capital policies and strategies, compensation and
appropriate policy relating thereto. benefits policies/plans and the terms and conditions of
service of the P/CEO and Senior Management.