| CIM FINANCE. INTEGRATED REPORT 2022 62 RISK MANAGEMENT REPORT Effective risk management is fundamental to the success and resilience of the Group. The primary goals of risk management are to ensure that the outcomes of risk-taking activities are consistent with theGroup’s strategies and risk appetite, and that there is an appropriate balance between risk and reward in order tomaximise shareholder value. The Group is exposed to financial risks, non-financial risks and strategic risks arising from its operations. These risks aremanaged through the Group’s RiskManagement framework, which continuously evolves to accommodate changes in the operating environment, a better practice approach, and shifting regulatory and customer expectations. We are committed to creating sustainable value through a thorough understanding of the needs of all our stakeholders, identifying andmanaging material risks to which the Group is exposed, as well as maximising valueadding opportunities that can be pursued while managing downside risk. The Group is subject to a number of risks and uncertainties in carrying out its activities and the material risks are highlighted in this risk report. The Group has in place measures to identify, monitor and, to mitigate such risks, and has taken necessary steps to address known weaknesses in internal controls during the year. Such measures include, among others, the enterprise risk management programme, the work performed by various committees at the Board and management levels, as well as the enforcement of numerous policies and procedures. 1. RISK MANAGEMENT FRAMEWORK STRENGTHENING RISK RESILIENCE Our focus remains to create and protect value by managing risks, building greater resilience, encouraging innovation and improving performance within our means and tolerances for risk in a highly dynamic environment.
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