The first Risk Management Forum for Mass Rapid Transit Corporation Sdn Bhd (MRT Corp) was held at the KVMRT Training Centre, Sungai Buloh on 5 December 2019.
MRT Corp Risk Management Department, of the Standard and Compliance Division, organised the event with the objective of inculcating risk culture and awareness among MRT Corp employees. Sixty Risk Coordinators and Co-Risk Owners of MRT Corp, together with their counterpart from MMC-Gamuda KVMRT Sdn Bhd, attended the forum. Experienced professional speakers from various industries were invited to share their experience and knowledge in risk management.
The first item in the Risk Management Forum 2019 agenda was a presentation by Telekom Malaysia Berhad Chief Risk Officer, Encik Mohamad Mohamad Zain, on the topic ‘Managing Risk in Digital World’. He shared with the audience on the potential security threats in digital transformation and the digital resilience strategy as well as the digital ecosystem risk landscape.
The second speaker of the day was Proton Holdings Berhad Chief Risk Officer, Encik Ahmad Fauzi Adnan. His topic on ‘Towards a Sustainable Business – Risk Management Insight’ explained the concept of sustainability to the business such as a global guiding principle and its benchmark and evolution. He also shared the sustainability impact to our ecosystem as well as the global Sustainable Development Goals (SDG) and Malaysia trends, ending with the progress, business benefits and strategy for SDG integration.
After a short break, the forum continued with Malakoff Corporation Berhad Risk Manager, Encik Abdul Rahman Ruslan on the topic ‘Risk Management Best Practices & Lessons Learnt in Power Industry’. He spoke about the challenges in implementing an effective Enterprise Risk Management and its roadmap, as well as sharing innovative risk solutions such as having Risk Management Department as the enabler and a formalised technical risk assessment programme.
PLUS Malaysia Berhad Chief Governance and Risk Officer, Mr Satpal Singh Dhillon came on stage as the next speaker. His presentation on ‘Importance of Risk Culture’ talked about the characteristics of good risk culture such as a distinct and consistent tone from the top, clear accountability and ownership as well as transparent and timely risk information. He also shared its importance as it has direct relationship with reputation, profitability and survival of the organisation.
A sharing session by MRT Corp Chief Executive Officer, Encik Abdul Yazid Kassim ensued where he made references to past incidents and the lessons learnt from them, along with the related risks, causes and consequences. He hoped that the knowledge gained from the forum will be useful and shared with the rest of the employees.
After the lunch break, Malaysia Airlines Berhad Chief Risk Officer, Captain Dato’ Badrul Hisham Yusoff began the second half of the forum, with the topic ‘Maneuvering through Turbulence’. He compared risk management with aviation risks where establishing context and risk identification, analysis, evaluation, treatment, monitoring and communication were similar with doing fuel plan, weather check and flight plan. He also added that a successful risk management will operate unconsciously within the risk appetite and on a continuous basis.
The forum adjourned from presentations to make way for an Online Contest on risk management. 20 questions were flashed on the screen where the top 9 with the highest correct answers won prizes, presented by MRT Corp Risk Management Manager, Puan Fazila Kamarudin.
‘Business Continuity Management (BCM), Operational Resilient Strategy’ was the last topic to be presented on this day. Kumpulan Perangsang Selangor Berhad Risk Management Director, Encik Mohd Shahari Idris discussed on the implementation of BCM and its key elements as well as the benefits that came with it.
The Risk Management Forum 2019 can be considered a success as it met its objective to raise awareness and impart valuable knowledge on risk management to the participants.