Principal Duties and Responsibilities of the:

Risk Management Committee

Duties and Responsibilities (Amended pursuant to the Board Resolution No. 30, series of 2011 dated May 9, 2011)

The Risk Management Committee plays a vital oversight role and serves as an official liaison to the Board of Directors. The specific duties and responsibilities of the Committee are as follows:

  1. Conduct a yearly evaluation of the company’s risk assessment and risk management program and ensure that appropriate controls are in place.
  2. Recommend to the Board the Company’s strategic risks, including the risk mitigation and control measures that require immediate or urgent implementation.
  3. Meet periodically with the Audit and Governance Committee, key management, and internal and external auditors to understand and discuss the control environment.
  4. Review the Company’s risk tolerance, financial exposures, and investment guidelines,including the mitigating strategies, insurance, and other risk financing schemes being undertaken.
  5. Review periodically the security, safety, physical loss control measures, and the specific Emergency Response Plan adopted by the Company to ensure that all risks are adequately covered.
  6. Review annually the adequacy of this Charter and recommend any proposed changes to the Board of Directors.