FGV Annual Report 2015

147 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 • Leadership Bench-strength To meet the demands of the business and the industry, FGV requires a continuous supply of strong leaders. The following are Leadership Programs developed for each level of FGV’s workforce: a) Top Leadership. C-Suite Programs that may include leadership Talk Series, In-House courses and courses at renowned centres like Harvard, IMD, MIT-Sloan. b) Senior Leaders Program (SLP). Primarily for FGV’s N minus 2 and N minus 3. c) Functional Leaders Program (FLP). Being the Middle Managers, this program upskills our Managers and Senior Managers to become competent in the areas of Business and Managerial skills. d) Becoming a Leader Program (BAL). This is meant for Young Executives new to the workforce. This will provide a strong foundation on what it means to be a leader. e) Becoming A Supervisor Program (BAS). This gives supervisors new to the role to move from a functional/technical role to a leadership role. • Capability Development These are myriads of courses that range from Personal Effectiveness, Relating to Others, Managing Work to Business Prowess. This will be done on a modular continuous basis to ensure skills and competencies are always updated. 4. Policies and Procedures • Group and Operational Policies and Procedures The Group operates based on existing policies and procedures. These policies and procedures are established with reference to International Standards such as ISO 9001, ISO 14001, OSHAS 18001, RSPO, HACCP, HALAL etc. The latest version of ISO 9001:2015 has given greater emphasis in managing risk within its operations. The Operational Policies and Procedures are reviewed periodically to remain effective and relevant to support the Group’s business activities at all times as it continues to grow and transform locally and across borders. Both Group and Operational Policies also facilitate compliance to regulations, listing and governance requirements. 5. Information and Monitoring The Group’s performance against its business plan and annual budget is measured and monitored through the following mechanisms: • Executive Information System (EIS) EIS is an online performance dashboard that provides the Management information to monitor the business performance, to analyse and make the appropriate making business decisions with the view to achieve the Group’s organisational goals. In 2015, the system was recently upgraded and further enhanced as part of our continuous improvement exercise with the aim to give users greater flexibility and speed to make decisions. • Financial and Operational review The Group President/Chief Executive Officer and FGV Chief Financial Officer present the Group Quarterly Financial Statements and the Operational Performance analysis to the AC prior to the Board for approval and subsequent release to Bursa Malaysia. • Budgetary Process Business Planning, which is coordinated and aligned to specific objectives, is essential to direct the activities and initiatives of each Clusters and Corporate Centres towards meeting the Group’s short term and long term objectives. With this view, the Group emphasises a comprehensive annual budgeting process to ensure that the Group’s business plans are consistent with the approved FGV Global Strategic Blueprint (GSB). The GSB covers a longer period and is an approved document that shall guide Management in the execution the Group’s strategy.