At the end of each year, CORM gathers information based on GRC system looking at reputational risk identified during the year and presents the consolidated result of reputational risk assessment to Bank Non-Financial Risk Committee (Bank NFRC) for acknowledgement in the 1st quarter of the following year. The Bank is developing a climate risk framework on the basis of which the impact of climate risk on the bank’s activities and assets will for the first time be reported about in the 2022 financial statements. 2.2.6 Strategic Risk TMBThanachart is aware of the possible strategic risk that results from the strategic plans, business plans, strategic implementations and controls which may be inappropriate and/or inconsistent with both internal and external business environments. The Bank’s vision is, “To become the recommended bank of choice by our customers”. In order to achieve this vision, the Bank developed a 5-year rolling strategic plan focusing on a Deposit-Led Strategy and Transactional Banking Excellence. This will create a strong foundation for sustainable growth whilst the Bank builds towards achieving market leadership. In addition, realizing synergy value from the merger with Thanachart Bank will also be the strategic priorities of the Bank going forward. The crystallization of our strategy and implementation of both Business As Usual (BAU) and integration activities are reflected in continuous improvements of key financial performances. In order to better manage the strategic risk, the Bank improved the processes of performance tracking and strategic risk control. Regular meetings of the management team and business units are held to review performance results together with remedial planning in case of target shortfalls. A strategic risk dashboard has been developed and is updated regularly to keep management informed and aware of the changing strategic risk status. A self-assessment of strategic risk is also regularly evaluated by management. In all, the Bank strongly determined to maintain a high level of strategic risk management. Starting from the process of strategic planning, organization restructuring, staffing and project implementation as well as performance monitoring, all must be in line with the Bank’s key strategies. In addition, the strategic plan itself is reviewed regularly to ensure it stays relevant with the changing business environment. 110 TMBThanachart Bank Public Company Limited
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