Page 196 - BAM ONE REPORT 2564 (ENGLISH VERSION)

194 Part 2
Corporate Governance

Report of the Risk Oversight Committee

In 2021, the Company received the CAC certificate for the second year at Thailand 11 National Conference on The Risk Oversight Committee is composed of five members, with Executive Vice President, Corporate Governance
th
Collective Action Against Corruption, titled “Unified Business Transparency against Corruption,” conducted in the form and Risk Management Group, serving as the secretary to the Risk Oversight Committee.
of virtual ceremony. This could demonstrate the organization’s commitment to operating business with transparency
and combating corruption in all its forms. The Company earned the “Very Good” recognition level in the CGR project. The Risk Oversight Committee performs duties within the scope of responsibilities specified in the Risk Oversight
Committee Charter, as assigned by the Board of Directors. In 2021, the Risk Oversight Committee held a total of 12
In addition, the Company received other four awards from two leading international institutes, which could bear meetings and reported the results of its operation to the Board of Directors on a quarterly basis.
testimony to the Company’s capability in business operation that is recognized in the international arena, comprising:
- The Best Investor Relations Thailand 2021 and the Best Distressed Asset Management Company Thailand The Risk Oversight Committee gives importance to the corporate governance task according to guidelines of
2021 from International Business Magazine Award 2021 hosted by International Business Magazine, a leading the supervising authorities and the international best practices (COSO ERM 2017) so that the overall risk management
business and finance magazine based in Dubai, the United Arab Emirates, which singled out organizations will be at an acceptable level. Importance is also given to managing the Company’s liquidity at the level that is
whose performance met the awarding criteria; and appropriate and adequate for business operation in both normal and critical situations, particularly in 2020-2021
- The Best in House Investor Relations Team - Distressed Asset Management and the Best Distressed Asset when the Company had been hit by the COVID-19 crisis. The results of the Risk Oversight Committee’s operation can
Management Company from International Financial Awards organized by International Finance, a leading be summarized as follows:
business and finance magazine of the UK’s International Finance Publications Limited. These awards are 1. Monitored and ensured that an enterprise risk analysis was conducted according to the yearly strategic
intended to honor individuals and organizations in the international financial sector who have demonstrated plan, which aligned with the Governance, Risk and Compliance (GRC) Policy, by integrating risk management with
an outstanding performance in various fields deemed valuable to global financial business. strategic planning in order for the strategic plan to cover risk assessment under the COSO ERM 2017 framework;
prepared a risk map to identify the key enterprise risks and determine the key risk indicators; and reported the risk
The Corporate Governance and Social Responsibilities Committee has performed duties to the best of its ability status to other committees on a monthly/quarterly basis.
under the mission designated by the Board of Directors with a view to ensuring that the Company upholds good corporate
governance and maintains regulatory compliance and encouraging the Company to operate business on a sustainable 2. Formulated the enterprise risk management framework, comprising key risk indicators, risk appetite and risk
and transparent basis. tolerance, based on the Company’s strategic objectives, with importance also given by the Company to IT risk
management by determining the IT KRIs for tracking and guarding against any cyber threats and establishing the
policy and guidelines on IT and cybersecurity and the cybersecurity incident response plan.

3. Monitored and ensured that risk management was carried out in line with the established policy; followed
up on reports on risk status such as enterprise risk status/watchlist and liquidity risk status, reports on credit risk
(Mr. Pisit Serewiwattana) management: asset quality, and loss data reports; closely monitored risk situations with respect to economic and
For and on Behalf of financial condition, competition, technology, cyber threats by making additional review of the criteria for IT impact
Chairman of the Corporate Governance and and reputation impact, and changes to rules, regulations and requirements of the authorities; and conducted a stress
Social Responsibilities Committee test on the Company’s stability.

4. During the COVID-19 situation, provided advice regarding the key risks that may affect the Company in order
for the management to use such advice as a guideline on business operation to be as close as possible to business
operation in the normal condition, including advice on, for instance, establishing measures for operation through the
Business Continuity Management Working Group in preparation for the work from home and work in office to cope
with the pandemic, preparing the buildings, premises, human resources, IT system for both hardware and software,
data access, data security, as well as measures for taking care of the Company’s employees by providing budgets for
vaccination of employees at all levels, requiring outsiders, customers and visitors to strictly comply with the measures
to prevent the spread of the virus, and preparing for the Company’s liquidity management to be least affected by
the uncertain situation; and closely monitored the Company’s liquidity management.