Page 92 - Exim iar24_Ebook

EXIM BANK MALAYSIA
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STATEMENT OF
RISK MANAGEMENT

MILESTONE AND ACHIEVEMENTS IN 2024

In line with the Bank’s Corporate Strategic Plan, the Bank is strengthening sound risk management practices and promoting good
governance.
In 2024, the RMD achieved the following major milestones and implemented the following initiatives:

1. Review of Approving Authorities and Authority Limits
The Approving Authorities and Authority Limits (AA) is a compilation of authorised approving authorities, signatories and
their respective limits approving financial and non-financial transactions as well as expenditures or activities within the Bank.
The review considers the latest organisational structure of the Bank which prioritises operational efficiency of the Bank’s AA
and activities, as well as the associated risk factors and control measures including the recommending party and approval
authority. Additionally, the review addresses best governance practices to ensure compliance with regulatory requirements.
2. Review of Framework on Risk Management

The Framework on Risk Management (the Framework) is an overarching risk management document for the Bank based on
its mandated role as a government-owned Development Financial Institution (DFI) to promote reverse investment and export
of strategic sectors such as capital goods, infrastructure projects, shipping, value added manufactured products and to
facilitate the entry of Malaysian companies to new markets, particularly to the non-traditional markets.
The Framework addressed the requirements of BNM’s Climate Risk Management and Scenario Analysis (CRMSA) and
governance of the climate risk stress test for year 2024.

3. Review of Framework for Technology Risk Management
The Framework for Technology Risk Management (Framework) is an ongoing iterative process of identifying risk associated
with the use, ownership, operation and adoption of technology within EXIM Bank, weighing its impact on the business and
addressing the risk to bring it to an acceptable level.
The Framework set the underlying approach of managing technology risk within the scope of EXIM Bank’s infrastructure
and technology environment. The Framework forms part of EXIM Bank overall risk management, internal control and
governance arrangements.
4. Review of Framework for Cyber Resilience

Cyber resilience is key to data and application availability. It is also a key component of the digital transformation journey.
With proper cyber-resilience capabilities, EXIM Bank will reduce cyber threats and technology risk with continuous validation
of controls.
The cyber resilience practice is also more than mere malware detection and response, data backup, or Disaster Recovery (DR)
capabilities. It extends to the capabilities to prepare for and adapt to changing cyber threat conditions, so EXIM Bank
can withstand and recover rapidly from disruptions. Achieving cyber resilience depends on the ongoing cycle of
interconnected set of policy and guidelines which span the comprehensive approach required to address the breadth of
cyberthreats on both onpremises and cloud infrastructures.

The document set the high-level guidelines comprising of necessary components in cyber security principles to support
EXIM Bank in improving the security posture, adapt and recover from cyber-attacks and comply with regulatory
requirements in respect of cybersecurity and cyber resilience.