(e) BRC
Please refer to the Statement on Corporate Governance
section of this Annual Report.
1.3 Senior Leadership Team (SLT)
The SLT is committed to the identification, monitoring and
management of risks associated with its business activities. The
GCEO andManagement are ultimately responsible to the Board for
the Group’s system of internal control and risk management. Each
business unit is responsible and accountable for implementing
procedures and controls to manage risks within its business.
1.4 Organisation Structure
•
Clear Organisation Structure
The Group has an appropriate organisational structure
led by functional SLT members who have clear roles of
responsibility and lines of reporting. The proper segregation
of duties promotes ownership and accountability for risk
taking and defines lines of accountability and delegated
authority for planning, executing, controlling and monitoring
of business operations. Competent and professional
individuals have been selected as part of our SLT to ensure
we manage our business well and to deliver business results.
Regular reviews of the organisational structure are held to
address the changes in the business environment as well
as to keep abreast of current and future trending of new
technologies, products and services.
•
Corporate Centre
The Corporate Centre plays an advisory role to add value
to the subsidiaries at varying engagement levels. The broad
roles of the Corporate Centre are as follows:
1.
Supporting role to Axiata Board Representatives at
OpCos and OpCos’ management; and
2.
Supporting role to OpCos’ Functional Heads.
Besides engaging in continuous day-to-day communication
between the OpCos and the Group functions, the Corporate
Centre also gives appropriate inputs and steers the Group
on best practices through sharing of the Group’s guidelines
and strategies to minimise risk exposure and to increase the
efficiency and effectiveness of business operations.
The Corporate Centre is also responsible for key processes
and functions including plotting the future path of the
Group, strategic planning, mergers and acquisitions, joint
development projects, capital raising and allocation,
leadership, talent development, group accounts and
reporting, procurement, treasury, technology and network.
The Corporate Centre is also involved in leading Group
initiatives on behalf of the OpCos to address current and
future challenges of the Group.
1.5 Assignment of Authority and Responsibility
•
Policies and Procedures
Documented policies and procedures are now in place for
all major aspects of the Group’s business and these are
regularly reviewed and updated to ensure that they remain
effective and continue to support the organisation’s business
activities at all times as the organisation continues to grow.
These policies and procedures are supported by clearly
defined delegation of authorities for amongst others,
spending on operating and capital expenditures, authority
to enter into contracts and commitments, business plans and
budget, and procurement of goods and services.
•
Limits of Authority (LoA)
The Board has approved a clearly defined and documented
LoA which is to be used consistently throughout the Group.
These are regularly updated to reflect changing risks or
to resolve operational deficiencies. It establishes a sound
framework of authority and accountability within the Group,
including segregation of duties which facilitates timely,
effective and quality decision-making at the appropriate
levels in the Group’s hierarchy.
Axiata’s LoA document clearly sets out the matters reserved
for the Board’s consideration and decision making, the
authority delegated to the President & GCEO and other
SLT members, including the limits to which the President
& GCEO can execute the authority, and provides guidance
on the division of responsibilities between the Board and
Management.
1.6 Commitment to Competency
•
Competency Framework
The Group appoints employees of the necessary
competencies to ensure that the personnel driving key
operations are sufficiently skilled and exert the required
qualities of professional integrity in their conduct.
•
Performance Management
The Group is committed to attract and retain competent,
dedicated and loyal employees. Programmes and initiatives
have been established to ensure that the Group’s human
capital is equipped with the qualities and skills to drive the
Group to become a world class company through ongoing
emphasis on performance management and employee
development.
The Group has in place a KPI performance measurement
process as prescribed under the Government-Linked
Company Transformation (GLCT) programme to link
performance and compensation in order to create a high
performance work culture. This process also seeks to provide
clarity, transparency and consistency in planning, reviewing,
evaluating and aligning employees actions and behaviours to
that of the Group’s vision and mission.
STATEMENT ON RISK MANAGEMENT
AND INTERNAL CONTROL
axiata group berhad | annual report 2015
076
