FGV Annual Report 2015

145 WHO WE ARE & WHAT WE DO OUR STRATEGIC INTENT & PERFORMANCE HOWWE ARE GOVERNED CREATING SUSTAINABLE VALUE OUR NUMBERS ADDITIONAL INFORMATION DETAILS OF THE ANNUAL GENERAL MEETING ADDRESSING OUR RISKS & OPPORTUNITIES Felda Global Ventures Holdings Berhad Annual Integrated Report 2015 Statement on Risk Management and Internal Control a) Clear segregation of roles which allow for sharper focus and more efficient use of resources. b) Centralisation and consolidation of key functions based on the Group Support Function’s strategy and framework. c) Clear key outcomes and key performance indicators to drive and sustain the desired behaviour for a high performance culture. • Group Discretionary Authority Limits (DAL) Consistent with the spirit of continually enhancing internal control, the Group DAL was reviewed and updated to promote organisational efficiency while ensuring that it is aligned to the Board’s risk appetite. The Board approved the revised DAL on 22 September 2015. • Employee Approving Authority (EAA) Group EAA has been implemented in April 2015 to ensure accountability across Business Clusters, Corporate Centre Divisions and subsidiaries. It defines the delegation of authority in respect of HR related processes and shall be read together with the Group DAL. • Job Description Each role in the organisation structure is supported by clear description of the job responsibilities which are linked to the vision and goals of the Group. A well developed and effective job description has been designed for clarity of responsibilities and relationship between functions which will enhance collaboration across the Group moving towards operational efficiency besides supporting the future people planning. It can retain and motivate the best talents by ensuring that employee’s expectations are aligned with business expectations. 3. Competency The skills, experience, productivity, diversity and excellence of our people are what enables us to operate our facilities safely, reliably and efficiently, and to deliver growth and value for our Shareholders and Stakeholders. We prepare our people for the challenges ahead and institute programmes and support systems to ensure systematic development. Our Development initiatives are predicated on THREE major factors: • A Tri-partite relationship of shared responsibility. This Tri-Partite relationship ensures not one single person is responsible, but rather a shared responsibility is practiced thus mitigating risks or failure. Employees FGV Immediate Leaders • Employees are responsible to plan and ensure their own development. • Immediate Leaders are responsible to ensure their staff are given the appropriate guidance and support. • FGV is responsible in providing the direction, support systems, policies, and appropriate funding.