Annual Report 2019

FOCUS FOR 2020 AND BEYOND 1 To operationalise risk appetite management to become a “living and breathing” part of the organisation 2 To continue the ongoing efforts to review the suite of internal policies, risk limits and triggers and optimise processes to better align them with the evolving business requirements 3 To further strengthen the credit granting environment by ; • improving the underwriting standards and streamlining the origination processes across corporate & SME segments • improving turnaround time by maintaining a well-calibrated scorecard for consumer finance • establishing a comprehensive and effective credit-grading system for non-retail customers 4 To further enhance the cyber security technical capabilities to protect the CFL infrastructure from external threats and to provide training to staff on how to identify and protect against cyber related threats such as phishing and social engineering. 5 To strengthen existing business continuity efforts in order to build up further resilience in cases of disaster or any effect of uncertainty on the achievement of business objectives. 6 To invest in data analytics for better measurement of business performance, including transaction monitoring and fraud detection capabilities CIM FINANCIAL SERVICES LTD / ANNUAL REPORT 2019 Risk Management 52