STRUCTURE AND MECHANISM OF CORPORATE GOVERNANCE

data, investment and other supporting data as well as using loss event data.

The evaluation results are submitted through a Memorandum of Service to the relevant Work Units or direct discussions with the risk owner, by providing input, suggestions, and feedback related to filling out the RCSA.

The existing mitigation plan will be monitored on a monthly basis and the reporting will be done quarterly. Furthermore, a quarterly risk profile monitoring report will be prepared and submitted to the Group Budget and Reporting to be included in the corporate quarterly management report.

STATEMENT OF BOARD OF DIRECTORS AND/OR BOARD OF COMMISSIONERS OR AUDIT COMMITTEE ON THE ADEQUACY OF RISK MANAGEMENT SYSTEM

The Company’s Board of Commissioners has a supporting organ, namely the Risk Management Monitoring Committee (RMM Committee) that is in charge of monitoring and evaluating the implementation of Risk Management work unit’s duties in order to provide recommendations to the Board of Commissioners. In the fourth quarter of 2021, the name of this committee was changed to Good Corporate Governance and Risk Management Monitoring Committee (abbreviated as “GCG and RMM Committee”).

The Head Office Group Risk Management periodically holds meetings with the GCG and RMM Committee to coordinate the planning and monitoring of the Company’s Risk Management process. The coordination results are stated in the form of meeting minutes for further action by the Group Head Risk Management. Coordination that has been routinely carried out with the GCG and PMR Committee in 2021 is the Monthly Coordination and Quarterly Coordination. The topics discussed in the coordination are the Proposed RKAP Risk Profile, Results of Quarterly Risk Profile Monitoring and other matters that are of concern to the Board of Directors and Board of Commissioners.

LEGAL CASES