Annual Report 2020

Risk Reporting Structure at QL Risk Management Unit The Risk Management Unit (“RMU”) of QL Resources Berhad comprises the Executive Committee, Chief Financial Officer, Group Risk Management Manager, and is chaired by Executive Chairman. The RMU undertakes the following responsibilities: • To communicate board vision, strategy, policy, responsibilities, and reporting lines to all employees across the Group; • To identify and communicate to the RMC the critical risks (present or potential) the Group faces, their changes, and the management action plans to manage the risks; and • To perform risk oversight and review risk profiles (Company and the Group) and organisational performance. Risk Management Committee The members of the Risk Management Committee (“RMC”) comprises a majority of Independent Non-Executive Directors appointed by the Board of Directors. The RMC is responsible for amongst others: • To create a high-level risk strategy policy aligned with the Company’s strategic business objectives; • To perform risk oversight and review risk profiles (Company and the Group) and organisational performance; and • To provide guidance to the business unit’s risk appetite and capacity, and other criteria, which, when exceeded, trigger an obligation to report upward to the Board. Board of Directors Risk Management Committee Audit Committee Executive Chairman Group Managing Director Risk Management Unit Executive Chairman Executive Committee Chief Financial Officer Group Risk Management Manager A Milestone on Our Sustainable Growth Journey 87