FGV Annual Integrated Report 2019

125 ANNUAL INTEGRATED REPORT 2019 04 S E C T I O N Information & Monitoring Our performance against our business plan and annual budget is measured and monitored through the following mechanisms: Tableau Online Performance Dashboard Selected key employees use the Tableau as a performance dashboard to monitor monthly business performance and to analyse and make appropriate business decisions with the view of achieving the Group’s organisational goals. The Tableau performance dashboard covers both financial and operational parameters. The dashboard is reviewed by the Group Chief Financial Officer (GCFO) and subsequently presented to the Group Management Committee (GMC) on a monthly basis. Financial and Operational Review The GCEO and GCFO present the Group Quarterly Financial Statements and Operational Performance analysis to the Audit Committee and the Board. The Board-approved Group Quarterly Financial Statements are subsequently announced to Bursa Securities. In addition, monthly financial and operational reviews are conducted at GMC level. Authority & Responsibility • Organisation Structure The Group made minor amendments to its organisation structure in 2019 whereby the sectors were reduced to three – the Plantation Sector, Logistics & Others Sector and Finance & Corporate Services Sector. Corporate Centre Divisions shall continue to provide support to the businesses. MSM Malaysia Holdings Berhad, which was previously the Sugar Sector, is another business division in the organisation structure alongside the three sectors. • FGV Group’s Limit of Authorities The FGV Board, on 28 August 2019, approved the Group LOA, which supersedes the previous various limit of authorities, including Discretionary Authority Limits, Employee Approving Authority, Legal Authority Limits and Procurement Authority Limits. The Group LOA empowers Management in executing its day-to-day financial and operational activities and promotes organisational efficiency while ensuring the Group’s business conduct and tolerance for risks. The Group LOA establishes a sound framework as well as accountability within the Group, including the segregation of duties, which facilitate timely, effective and quality decision making in addition to stricter financial controls. Competency In order to ensure business sustainability and a continuous supply of competent workers, we have established the FGV Leadership Competency Model, which is based on the existing FGV Core Values – P.R.I.D.E. This competency model shall be part of Group Human Capital (GHC) processes including performance management, promotion and recruitment, among others. It is an important part of our overall business strategy and supports the management of change, enhances employee engagement and helps drive a high-performance culture. To meet the demands of the business and the industry, FGV requires a continuous supply of competent employees. The following are programmes developed and executed in 2019: • Supervisor Programme Supervisors are the backbone of the Upstream Plantation Sector. We ensure they are properly trained in their functional areas. Their role as front-line leaders is very important in creating an innovative supportive culture and in ensuring FGV’s primary workforce is well led, engaged and productive. • Cadet Planters The Cadetship in Plantation Management Course (Cadet Planters) and Cadetship in Palm Oil Mill Engineering Programme (Cadet Mil Engineers) are designed to ensure continuation of talent, especially in these critical areas. • Young Shapers Programme (YSP) YSP is an initiative by Group Human Capital launched in May 2019 to develop and drive a group of potential young talents, aged 35 and below, as enablers to boost FGV’s transformation plans and create a culture of performance excellence. HOW WE ARE GOVERNED STATEMENT ON RISK MANAGEMENT AND INTERNAL CONTROL