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Compliance Risk Management in Malaysia: A Framework for Success

In a bid to ensure compliance with regulatory requirements and mitigate potential risks, Bursa Malaysia has established key frameworks to manage risk, compliance, and corporate integrity across various segments of its operations. These frameworks provide a robust foundation for managing enterprise-wide risk and promoting good governance practices.

Enterprise Risk Management Framework

At the heart of Bursa Malaysia’s compliance risk management strategy is the Enterprise Risk Management Framework, which provides a structured approach to identifying, assessing, and mitigating risks that could impact the company’s operations. This framework ensures a robust foundation for managing enterprise-wide risk and promoting good governance practices.

Integrity and Compliance Management Framework

The Integrity and Compliance Management Framework is another critical component of Bursa Malaysia’s compliance risk management strategy. This framework focuses on maintaining high standards of corporate integrity and ensuring compliance with relevant laws and regulations.

Business Continuity Management Framework

To ensure business continuity and minimize disruptions to its services, Bursa Malaysia has also established a Business Continuity Management Framework. This framework outlines procedures for responding to and recovering from potential disruptions, ensuring that the company’s operations can continue uninterrupted in the event of an incident.

Risk Management for Outsourcing Arrangements

In addition, the company has implemented a Framework on Risk Management for Outsourcing Arrangements, which provides guidelines for managing risks associated with outsourcing certain business functions. This framework ensures that third-party service providers meet Bursa Malaysia’s standards and requirements for risk management and compliance.

Integrated Governance, Risk & Compliance (iGRC) Framework

Furthermore, the Integrated Governance, Risk & Compliance (iGRC) Framework has been established to promote a culture of transparency, accountability, and responsible decision-making across the organization. The framework provides a structured approach to governance, risk management, and compliance, ensuring that Bursa Malaysia’s operations are conducted in accordance with its values and principles.

Anti-Fraud, Bribery, and Corruption Risks

Bursa Malaysia has also adopted guidelines for managing anti-fraud, bribery, and corruption risks, as well as a Whistleblower Policy and Procedures. These measures promote a culture of integrity and ensure that employees feel comfortable reporting any suspicious activity or potential breaches of the company’s code of conduct.

Clearing Houses Business Operations

In its clearing houses business operations, Bursa Malaysia adopts guidelines issued by the Securities Commission Malaysia (SC) and the International Organization of Securities Commissions (IOSCO) to manage credit and liquidity risks. The company is also exposed to counterparty risks from the clearing participants’ perspectives, which are managed through a comprehensive risk management framework that includes measures such as margining and collateralization.

Conclusion

By establishing these frameworks, Bursa Malaysia demonstrates its commitment to compliance risk management and its dedication to promoting a culture of integrity and transparency in all aspects of its operations.