Enterprise Risk Management Committee
Duties and Responsibilities
- To define and review the Company's risk management policy, framework, and the Company’s Stakeholder Management framework.
- To regulate and support risk management process and Stakeholder Management process to be in line with strategy and business goal, including the changing circumstance.
- To provide recommendations, monitor, and evaluate risk management process and Stakeholder Management process to the Corporate Plan and Risk Management Committee (CPRC) (management level) for further implementation.
- To review the Risk Management’s report and provide suggestions on the potential risks, including specification on control measure or mitigation plan as well as development of risk management system to CPRC in order to ensure efficient continuity.
- To review Stakeholder Management’s Report and provide recommendation for the Operational Plan with regards to carry out positive results or minimize/compensate the effects on Stakeholder including improving of Stakeholder Management System for CPRC in order to ensure efficient continuity.
- To support Chief Risk Officer (CRO) and Chief Stakeholder Officer (CSO) to achieve the goals of Company’s Risk Management and Stakeholder Management.
- To report the results of risk management and Stakeholder Management to the Board of Directors. In case where there are factors or events that might have significant impact on the Company or Stakeholder, the Board of Directors shall be immediately notified.
- To consider and provide comments on agendas regarding the commitments by along with a potential of business complication and risk of PTT and Stakeholder significantly which have to approved by the PTT Board of Directors as the PTT Management Committee approve.
- To consider and provide comments on investment project agendas as follows:
- Investment projects of PTT and a wholly owned subsidiary of PTT and the investment values more than 5,000 million baht and have to be approved by the PTT Board of Director
- Investment projects of non-listed Companies which PTT hold less than 100% and the investment values more than 5,000 million Baht and have to be approved by the PTT
Board of Directors before PTT representatives vote in Shareholders meeting or Board meeting.
- Investments involving risk which may materially impact PTT or PTT’s stakeholders as approved by PTT Management Committee.
- The Enterprise Risk Management Committee should meet at least once a quarter.
- To perform other Board-assigned tasks.
Nevertheless, The Audit committee and the Office of Corporate Audit are responsible for The Enterprise Risk Management System assessment.
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