82 / 204
The RMC is entrusted with the responsibility of implementing and maintaining the ERM framework to achieve
the following objectives:
(a) Communicate the vision, role, direction and priorities to all employees and key stakeholders.
(b) Identify, assess, treat, report and monitor significant risks in an effective manner.
(c) Enable systematic risk review and reporting on key risks, existing control measures and any proposed
action plans.
(d) Create a risk-aware culture and building the necessary knowledge for risk management at every level of
Management.
Board of Directors
Audit Committee
Risk Management
Committee
Risk Management
Unit
Risk Management
Function
Group Internal Audit
In line with the achievement of the above objectives, the RMC has undertaken the following activities:
(a) Reviewed the extent of the controls and measures which have been put in place by each Risk Management
Unit (“RMU”) to ensure the risks are managed to an acceptable level. Below are the steps of Enterprise
Risk Management conducted within the Group:
Each RMU
updates the
Risk Profile
indicating
the current
condition of
each risk and
plan
1
Risk
Management
Coordinator
compiles
all the Risk
Profiles
2
RMC review
the Risk
Profiles
together with
RMU annually
3
Risk Profiles
updated with
the updated
controls and
measures to
be taken
4
RMU to
monitor and
report on the
controls and
the condition
of each risk
5
Fima CORPORATION Berhad
(21185-P)
Annual Report 2019
78