62 C I M F I N A N C I A L S E R V I C E S L T D Risk Management Report (continued) R I S K M A N A G E M E N T The measures adopted at Cim Finance to strengthen our Risk Management Framework are: BUSINESS CONTINUITY PLANNING RECOVERY MANAGEMENT ONGOING OPERATIONS RISK RESILIENCE PROCEDURES Relentless business continuity and resiliency amidst the new normal 2021 was another replay of the 2020 lockdown with business continuity efforts resurfacing. This time, however, our response plans were implemented with more speed, agility and confidence in terms of proactively taking operational measures to limit any business impact, including the continued use of digital channels, which have continued to evolve since last year. The reinforcement of the Business Continuity Management (BCM) resourcing capabilities and improvement in the coordination of BCM-related efforts across all functions are underway in order to continue building on our overall resiliency and rigorous BCM maintenance. Building a dynamic credit risk framework and policy interventions Considering the fast-changing business environment, Cim Finance has been consistently reviewing its credit risk framework. In that regard, the credit scorecard and policy rules were thoroughly reviewed and are being closely monitored. In some cases, the revised decision logic has been embedded within existing automated decision engines and processes. In others, expert-based decisions are applied while prudently managing applications to cope with the extraordinary volume of applications received. Manual credit underwriting focuses on exceptions and higher risk cases, where necessary, feeding back into the decision-making framework. 1 2
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