Kenanga-Sustainability-Report-2022

34 35 Environmental Stewardship About This Report Who We Are Progressing Towards A Sustainable Future Managing Our Sustainability Risks Good Governance Sustainable Economic Growth KENANGA INVESTMENT BANK BERHAD Sustainability Report 2022 Awards and Recognitions Empowering People and Communities GRI Content Index ESG Performance Data GOOD GOVERNANCE CORPORATE GOVERNANCE FRAMEWORK GOOD GOVERNANCE Our Sustainability Governance Establishing a sustainability governance structurewith clearly defined roles and responsibilites is paramount to ensure accountability and effectiveness in the execution of sustainability initiatives within the Group. As the Group’s highest governing body, the Board drives the overarching leadership, strategy, and oversight of the Group’s ESG approach to risks and opportunities, supported by the relevant committees as defined below: Sustainability Governance at Kenanga Board & Management Committees Governing Body Roles & Responsibilities Board of Directors Highest approval authority and oversees the implementation of sustainability initiatives, including providing stewardship, guidance, and direction for the sustainability agenda for the Group. Promotes sustainability through appropriate ESG considerations in the Group’s business strategies. Group Governance, Nomination & Compensation Committee (“GNC”) An independent Board Committee that supports the Board in providing oversight on the progress of sustainability, particularly in ensuring the governance of sustainability within Kenanga, as well as the necessary alignment and compliance with applicable statutory and regulatory requirements. Audit Committee (“AC”) A Committee that supports the Board in providing oversight on the process of sustainability management, as well as the Group’s system of internal controls and compliance with applicable statutory and regulatory requirements. Fostering high quality independent auditing to promote confidence in the quality and reliability of our audited financial statements is a priority. In line with BNM’s Guidelines on External Auditors, we ensure the appointed audit engagement partner does not serve a continuous period of over five (5) years. He/she is rotated to safeguard objectivity and independence. Appointment of the audit firm follows the same stringent tender and appointment process outlined in the Group Procurement Policy. Our Board Diversity The Board’s composition reflects a diverse range of perspectives, experiences, and expertise, which has a positive influence on the Group’s strategic decision-making. Board Composition in FY2022 GOOD BUSINESS CONDUCT [GRI 205] WHY IT MATTERS The implementation of a strong governance foundation is critical for Kenanga’s long-term value creation. As a responsible and sustainable financial institution, it is imperative to instil a strong ethical and compliance culture that reflects the Group’s zero-tolerance approach towards any form financial crimes. OUR APPROACH Our Corporate Governance To ensure a balance of power and authority between individuals, the Chairperson of Kenanga’s Board of Directors, is separate from the Group Managing Director. Further to that, the Group Managing Director is also not a member of the Board. Understanding the responsibility for good corporate governance rests with them, the Board strives to adopt the principles and best practices of corporate governance and ensures that Kenanga and its Subsidiaries (“Kenanga”, “the Group” or “Kenanga Group”) complies with the various guidelines issued by Bank Negara Malaysia (“BNM”), Bursa Malaysia Securities Berhad (“Bursa Securities”) and the Securities Commission Malaysia (“SC”). The Board is also committed to continuously undertake the appropriate actions to embed the principles and recommendations of the revised Malaysian Code on Corporate Governance (“MCCG”) issued by the SC on 28 April 2021, into the Company’s existing policies and procedures. For more information on our Corporate Governance, please refer to the Corporate Governance Overview Statement on pages 66-96 of our Annual Report 2022. Age Nationality Gender Independence 25% 25% 50% Above 70 50 - 59 60 - 69 Malaysian Non-Malaysian Independent Directors Non-independent Directors Male Directors Female Directors 12.5% 87.5% 50% 50% 25% 75% MANAGEMENT COMMITTEES Group Credit Committee Group Outsourcing & Procurement Committee Group Risk Committee Group Digital Innovation Technology Committee Group Products Committee Group Operational Risk Committee Group Business Continuity Management Committee Group Disciplinary Committee Staff Outreach Committee Corporate Finance Senior Officer Committee Group Talent Committee Building Committee Group Sustainability Management Committee BOARD OF DIRECTORS Group Company Secretary Audit Committee Group Governance, Nomination & Compensation Committee Group Board Risk Committee Group Board Digital Innovation & Technology Committee Employees’ Share Scheme Committee Shariah Committee STAKEHOLDERS Group Chief Internal Auditor GROUP MANAGING DIRECTOR GROUP EXECUTIVE COMMITTEE

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