In the PwC 2022 Global Risk Survey to 3,000 business leaders, the Malaysian respondents indicated that the top risks to growth include business/ operational model, cyber/ information management, geopolitical, external change, and product/ market risk. While companies continue to input external insights in their risk assessment and monitoring at various levels, whether or not it gives the optimal outcome to the organisation is highly dependent on the organisations’ ability to process it strategically.

The oversight role of the Board Risk Committee has a bearing on how the organisation evaluates and manages vital risk areas and, at the same time, cultivates organisational behaviour. Therefore, it is essential that the committee understands what is on the horizon, foresee potential business challenges and deploy a balancing act to address risk more strategically while tapping on the opportunity.

In our efforts towards strengthening committee roles, ICDM and FIDE FORUM bring together all Board Risk chairmen and members to discuss their issues and challenges and share good practices and experiences among the members of both organisations. It also pre-empts each other on the potential areas some may have missed.

Get a fresh perspective on the following key risk areas:

1. Growth Quadrant: Strategy & Business Recovery Plans

• Strategy – Traditionally, RC is risk skewed. There is an increasing call for boards to be strategy driven by resetting their risk appetite. The PwC 2022 Global Risk reveals that only 19% of Malaysian respondents (vs 22% globally) are now realising the benefits of defining or resetting their organisation’s risk appetite and thresholds. How can RC play a more effective oversight role in this?
• Business model – how should RC take the lead in reviewing the business plan and business model while balancing the opportunities and risks?
• Supply chain – How does the RC deal with supply chain risk and take a step up to carve out a competitive edge for the business?

2. Preparedness Quadrant: Crisis Management & Business Continuity Plan (BCP)

• Crisis management preparedness – How does RC assess the crisis management readiness in the organisation? What challenges does the board face in the crisis management approach, strategies, process and decision-making? How can boards provide a moral centre to their organisation in crisis?
• BCP – A regular corporate exercise in the financial services sector. What can companies adopt without the complexity?
• Cyber security – How should the board assess the risk? To what extent is expert advice needed?

3. Emerging Quadrant

• ESG – Have you started your ESG + T journey? What ESGT megatrends should be top of mind for all RCs? How can RCs understand these new dynamics to help steer the company in the right and most beneficial direction? How does climate risk (& opportunity) impact companies?
• Technology – Digital transformation is nothing new, but the digital mindset is often blocked. How does RC cultivate a digital mindset with risk considerations?

4. Board’s role in overlooking the overall risk governance and Talent Issue

• With more and more risks getting into the risk register, how do boards monitor risks and guide management better in making them see what they don’t see?
• What should boards look for in the people element to cultivate better risk management capabilities? (eg. board talent & development and management talent & development)

The session will have three (3) Panellist (TBC) on the panel and will be moderated by En Nik Shahrizal Sulaiman, Partner of PwC Malaysia.

Date:	8 December 2022, Thursday
Time:	10:00am – 12.00pm
Venue:	Penta Hall, ICDM Office, Mercu 2, KL Eco City
Programme Fee:	Complimentary (ICDM Members & FIDE Forum Members). RM250 (non-ICDM & non-FIDE FORUM Members)

The Chatham House Rule applies to all discussions during the session. To ensure continuous support is available for the BRC community, we will also set up a BRC Circle at the end of the session for ICDM members. More information on the Circle will be shared at the event.

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