Internal Control
Operating a front office-centric internal control system
Revamp Internal Control Structure
New team dedicated to internal control
Established new team under Compliance Unit to strengthen internal control(*'Dec 2018)
Dispatched internal control managers to each divisions to reinforce on-site inspection
Prior to the change, there is Risk Mgmt.Committee and CEO under BoD, Biz.Divisions and Internal Control Committee and Risk division manager under CEO, Team under Biz.Divisions, and Compliance under Customer Protection Center. After the change, there is Autonomous internal controls and CEO under BoD, Biz.Divisions and Internal Control Committee and Risk division manager under CEO, Teams (Internal controls officer) under Biz.Divisions and Compliance Unit under Internal Control Committee There is an Internal Control & Compliance and Compliance Team under the Compliance Unit, and an Internal controls manager under the Internal Control & Compliance.
Maintain check & balance system
Implemented multiple layers of inspections to monitor each division’s internal control activities and maintained three reporting lines for check & balance
Business activities must be conducted under good faith
Internal controls team supports and inspects business divisions
Audit independently checks activities in between internal audits and businesses
In the Checking and Reporting process, the business performs Autonomous internal control, the internal control performs Aid / Check Check internal control, and the Audit performs Independent checks of internal audit activities to report to BoD and Executive Management.