Annual Report 2017

81 Risk Management Committee Report In 2017, The Stock Exchange of Thailand (SET)’s Board of Governors (BoG) appointed the Risk Management Committee (RMC) consisting of seven committee members: four members were board members, and three members were non-executive experts in the fields of finance, accounting or risk management, as follows: 1. Pattera Dilokrungthirapop (Chairperson) 2. Voravan Tarapoom 3. Pichet Sithi-Amnuai 4. Kesara Manchusree 5. Vachira Arromdee (expert) 6. Professor Dr. Anya Khanthavit (expert) 7. Somkiat Sirichatchai (expert) The BoG appointed Pattera Dilokrungthirapop as Chairperson, effective June 28, 2017, to replace Charnchai Kongthongluck whose term expired. During2017,thecommitteehascompletelyperformed its duties under the scope of responsibilities specified in the Charter. The committee held 8 meetings, including joint meetings between the Risk Management Committee and the Audit Committee. The attendance record of the committee members is shown in the Corporate Governance Report. A summary of key activities in 2017 is as follows: • Enterprise Risk Management: The committee reviewed and provided suggestions and recommendations on corporate risk appetite and risk tolerance, corporate risk profile, key risk indicators (KRIs), as well as RMC Charter, risk management policy and framework to ensure that risk management was in line with the company policy and international standard for utmost benefit to the organization. • Strategic risk management: The committee reviewedandprovidedadditional recommendations on risks related to SET’s strategic direction for 2018 - 2021 and the 2018 strategic plan. The committee also monitored the progress of the 2017 strategic plan on a quarterly basis and followed up the implementation according to main objectives of each strategy. These helped strengthen the integrated risk management and strategic planning. • Risk management of new business and strategic projects: The committee reviewed and provided additional recommendations on the risks related to SET’s new business and various projects, for example: 1. the intermediary of payment system for the capital market, one of the government’s projects under the National e-Payment scheme, in which the SET group will act as the payment hub for brokers and commercial banks; 2. the shortening of settlement cycle project (T+2) which will be implemented on March 2, 2018. This project will shorten securities settlement process to two business days from the transaction date, making it aligned with international exchanges; and 3. The LIVE platform which has been developed to facilitate small and medium-sized enterprises (SMEs) and startups to access funding and to be a trading market for those firms; among other projects. • Risk management of key operational risks: The committee reviewed and provided recommendations on the risks related to data center renovation project. This was to ensure that the renovation was smooth and would not affect the major operation. In addition, the committee also considered and provided suggestions on the overall insurance framework of the SET group in order to review the principle of insurance policy more appropriately. • Risk management of SET’s subsidiaries: The committee reviewed and provided recommendations