The Risk Management Committee (“RMC”) has been delegated by the Board to assume responsibility for the Group’s risk oversight. Any approved policy or framework formulated to identify, measure and monitor various risk components, amongst others credit risk, market risk, liquidity risk and operational risk, would be reviewed and recommended by the RMC to the Board. The RMC’s terms of reference were reviewed recently in line with leading practices and approved by the Board in June 2010.
 

Additionally, the RMC reviews and assesses the adequacy of these risk management policies and ensures infrastructure, resources and systems are emplaced for risk management.
 

The RMC meets monthly with additional meetings convened to attend to urgent matters that require its deliberation.
 

The members of the RMC are as follows:-

• Dato’ Dr Tan Tat Wai (Chairman)
• Dato’ Seri Ismail Shahudin
• Mr Cheah Teik Seng
• Mr Sreesanthan Eliathamby

The specific responsibilities of the RMC include, amongst others, the following:
(i) To develop and foster a risk aware culture within the Bank;
(ii) To review and approve risk management strategies, risk frameworks, policies, risk tolerance and risk appetite limits;
(iii) To review and assess adequacy of risk management policies and framework in identifying, measuring, monitoring and controlling risks and the extent to which they operate effectively;
(iv) To ensure infrastructure, resources and systems are in place for risk management, i.e. that the staff responsible for implementing risk management systems perform those duties independently of the financial institution’s risk taking activities;
(v) To review and assess the appropriate levels of capital for the Bank, vis-a-vis its risk profile;
(vi) To review and recommend strategic actions to be taken by the Bank arising from Basel II implementation for Board’s approval;
(vii) To review and approve new products and ensure compliance with the prevailing guidelines issued by BNM or other relevant regulatory body;
(viii) To oversee the resolution of BNM Composite Risk Rating findings for Maybank Group;
(ix) To oversee the specific risk management concerns in the business units that leverage on the Embedded Risk Units in the business units; and
(x) To review and approve model risk management and validation framework.