KUALA LUMPUR, June 17 — CIMB Group Holdings Bhd recently bagged the “Achievement in Enterprise Risk Management” award while its chief risk officer David Richard Thomas was named “Chief Risk Officer of the Year”, at The Asian Banker Risk Management Awards 2018, and The Asian Banker Risk Leadership Achievement Awards 2018, respectively.
The Asian Banker Risk Management Awards are designed to identify emerging best practices and outstanding achievements of the best run risk management teams in financial institutions.
“We are honoured to have received these awards by “The Asian Banker” and proud to have David Richard Thomas win the Chief Risk Officer 2018 title.
These awards are testament to CIMB’s strong risk governance, leadership and ongoing commitment in adopting risk management best practices across our businesses and operations in ASEAN,” said CIMB Group Group chief executive officer Tengku Datuk Seri Zafrul Aziz in a statement today.
The group’s robust risk management system has played a significant role in setting CIMB Group on the path of sustainable growth, which would, in turn, provide greater long-term value to all its stakeholders.
CIMB employed the Enterprise-Wide Risk Management Framework (EWRM), which provided an overview of each identified risk to promote clear and accountable risk management processes and facilitated readiness and compliance to regulatory requirements.
Under CIMB’s EWRM, business units have increased their accountability for risk taking activities which was in line with the group’s three-lines-of-defence philosophy for risk management.
The Chief Risk Officer of the Year recognised the leadership of David Richard Thomas, who successfully aligned CIMB’s strategy and business plans with its risk appetite, said the bank.
Thomas spearheaded a number of instrumental projects to strengthen the risk management framework and processes within CIMB Group, which included the capital and risk-weighted assets optimisation project, the risk adjusted return on capital project and the early warning indicator process.
Under Thomas’ leadership, CIMB Group had also recalibrated and evolved its forward- looking risk profile effectively.
His other contributions included the introduction of an annual risk posture workshop with the board, to highlight the importance of linking risk to strategy and capital. — Bernama
