Risk Management Committee Charter
- INTRODUCTION
Risk Management was formed to assist the Board of Commissioners in supervising the implementation and the process of Risk Management policies. - DUTIES AND RESPONSIBILITIES
- To conduct periodical assessments and provide recommendations on the type and insurance coverage of the Company; and
- To conduct periodical assessments on the risks which faced by the Company and formulate the steps for handling the risks;
- To review proposal from Board of Directors on policy and risk management system of the Company;
- Evaluate the financial planning compiled by the Board of Directors, which includes the budget plan of the Company or evaluation of any proposed project and programs activities.
- Along with Audit Committee, conduct an assessment on the identification process of risk and the implementation of risk management conducted by management.
- Monitoring the implementation of risk management’s process and its control according to SOP and recommendations from auditor.
- AUTHORITIES
- To access the documents, data, and informations of the Company about the employees, funds, assets, and resources of the Company;
- To communicate directly with employees, including the Board of Directors and the party which carries the function of internal audit, risk management, and another party which related to the role and responsibility of Risk Management Commitee;
- Involving the independent party outside the members of Risk Management needed to help the implementation of their duties (if necessary); and
- Do another authority which given by the Board of Commissioners.