Framework of Risk Governance and Management
To effectively manage the risks arising from the operations of SinoPac Holdings and its subsidiaries, the Board of Directors serves as the highest supervisory unit in charge of approving the risk management policy and risk appetite or limit and giving the management authority for daily risk management. Based on its authority, the management should supervise risk management activities, evaluate the performance of risk management, and make sure that each risk management officer works professionally and in line with the code of ethics.
The Audit Committee consists of three independent directors, aiming to help supervise the effective implementation of the company's internal control and compliance with relevant laws and regulations, control the company's existing or potential risks, and assist the board of directors to make decisions through its professional and independent position. The responsibilities include regularly receiving reports from the Risk Management Division on potential risk issues and management overview, supervising the implementation of risk management of the Company and its subsidiaries, and reviewing the Company's risk management policies.
The Risk Management Committee has been set up under the Chairman, who serves as the convener of the committee, to be in charge of deliberating on the risk management policy, organization, system, and risk limit, reviewing overall risks, supervising risk management activities of SinoPac Holdings and its subsidiaries, and coordinating efforts to manage major risk incidents.
The Risk Management Division has been set up under the President to be in charge of developing the risk management policies, guidelines, and systems for SinoPac Holdings and its subsidiaries. In addition to implementing the risk management policies, guidelines, and systems approved by the Board of Directors, the Risk Management Division is responsible to regularly evaluate the performance of SinoPac Holdings and its subsidiaries in terms of risk management.
Based on its authority, the management assigns a controlling unit or personnel to be responsible for the risk management of its business to ensure that all risks are properly monitored.
Risk Management Organizational Structure of SinoPac Holdings and Subsidiaries
SinoPac Holdings Risk Management Structure and Duties
