BIMB Integrated Annual Report 2017

5 approves risk management policies/practices, review periodic reports on risk management and makes relevant recommendations to the Board for its approval. Details of the BRC and the risk management dashboard are set out in the BRC Report and Statement of Risk Management and Internal Control of this Integrated Annual Report. Based on the annual evaluation for the Financial Year under review, the Board collectively agrees that it has discharged its roles in identifying principal risks and in ensuring that the Group has put in place an adequate risk management framework to effectively monitor and manage the risk of its operational business. In order to support the BRC, at Management level, the Group Risk Management Committee (“ GRMC ”) is responsible for the ongoing development and co- ordination of the Company’s risk management framework in the Group. The GRMC, in 2017 met six (6) times a year, collates and reports the Group’s credit, market as well as operational risk profiles. Emerging issues and risks were also deliberated in the meetings and further action was taken by the relevant key operating subsidiaries . Succession Planning The Board, through the Nomination and Remuneration Committee (“ NRC ”) is required to review potential candidates for Management positions and establish their remuneration. The Company’s nomination, selection and succession policies are formulated by the NRC. The mix of skills, experience, expertise and qualification were analysed prior to their respective appointments. Based on the annual evaluation for the Financial Year under review, the Board collectively concur that the succession plan for the CEO and Management as well as for the Company’s future leaders has been appropriately developed. To ensure there is an effective and orderly succession planning in BHB, during the Financial Year under review, the Board/NRC had reviewed and appointed Encik Khairul Kamarudin as the new CEO on 8 August 2017 replacing the former Group CEO, i.e., Dato’ Sri Zukri Samat who retired on 8 June 2017. The Board/NRC had also considered and approved the proposed appointment of Tan Sri Ambrin Buang as the new Chairman, to replace Tan Sri Samsudin Osman who retired on 31 January 2018.