Guideline for Culture Creation and Compliance with Rules and Regulations
The Bank, as a financial institution conducting commercial banking business, is required to comply with the laws, rules, regulations, standards and practices applicable to various transactions both from government agencies in authority and financial institution supervisory agencies, including internal operating regulations, which tend to be more diverse and complex. This is to create a good corporate culture of compliance for the Bank's employees so they are aware of the importance and necessity of performing in accordance with applicable laws and regulations. The Bank considers compliance with the rules as a duty of all employees. Therefore, the compliance risk management plays an important role in governance to prevent the Bank from performing non-compliance that will cause the Bank to be liable as required by laws such as being prosecuted under the law and will also affect the Bank's operational status and reputation.
The Bank has established a compliance risk management guideline which identifies and assesses risks from the impact or change of events in conducting business of the Bank in accordance with the regulations of the relevant regulators as the Compliance Program, which had been approved by the Compliance Committee, to supervise and manage the Bank's compliance risk to be more efficient and effective. The Compliance Program consists of Preventive Action plan and Monitoring & Testing plan, including supervising regulatory compliance in other important areas to prevent or mitigate the likelihood that the Bank may not comply with the regulations. This is in accordance with the guidelines of the Bank of Thailand, the compliance policy of the Bank and the Compliance Unit Charter.
Moreover, compliance communication and compliance training are part of creating a culture of compliance in the Bank. The Bank has followed up the announcement of new regulations of regulators related to the Bank's business operations in order to communicate with all departments' employees of the Bank in forms of circulars, notifications to relevant business units and short articles (CLMG Post) via employees' emails to make them understand. Furthermore, the Bank also emphasizes all employees to comply with the specified rules and regulations with prudence and take into account the damages that may arise from the non-compliance with the rules and regulations.
For training related to regulatory compliance, the Bank has continued to organize regulatory training courses for the Bank's employees by using both classroom and e-learning methods. For example, in 2020, the Bank provided "Prevention of Receiving and Giving of Assets or Any Other Benefit that Indicates an Intent of Corruption" course to the Bank and subsidiaries' employees via VIDEO-Conference to promote understanding and awareness of the importance of such matters. The Bank also provided in-house training and public training by category related to anti-corruption. Moreover, a survey of employees' perception and understanding of the Bank's Code of Business Conduct and anti-bribery and corruption policy was conducted to assess employees' perception, understanding and application of the said guidelines. The results can be summarized as follows:
|Code of Conduct||98.20 %||96.72 %|
|Anti-Bribery and corruption Policy||96.10 %||93.66 %|
|Code of Conduct|
|98.20 %||96.72 %|
|Anti-Bribery and corruption Policy|
|96.10 %||93.66 %|