Page 19 - KWAP_AR2022

ReAlising A FulFilling FutuRe Annual Report 2022 17

FY2022 TERAS 5 Progress: In addition, key frameworks and models which are
Several workstreams were enhanced under this project, expected to be the main catalyst for KWAP internally
where we have seen the: and externally during the journey in realising the Vision
2025, were approved during the year. These included
the development and approval of a comprehensive
Enhancement of Investment Division:
• Equity Department Corporate Governance Framework, which was developed
Structure Governance People Process Digital
• Fixed Income Department from the collection of disparate corporate governance
• Infrastructure Department elements.
• Portfolio Strategy & Research Department
• Private Equity Department Review and streamlining of the many KWAP
• Real Estate Department (rebranded Property committees were also implemented to develop a more
Investment Department) comprehensible framework whereby only one single
authority is responsible for governing the creation or
Activation of Finance Division: disbandment of any committee.
• Corporate Treasury Department
• Accounts & Finance Department Upcoming Focus & Progress
• Investment Operations Department
(rebranded Investment Support Services TERAS 5 initiatives will continue to be executed in
Department) 2023. In line with the mission to improve customer
• Procurement Function experience, more outreach or interaction initiatives
• Finance Excellence Function
are being planned with contributing employers, Public
Activation of Digital Division and merging Service Department (PSD)’s Pension Division, and other
of Information Technology Department and ministries, State Secretaries’ offices and agencies.
Information Technology Services, forming:
• Digital Strategy & Services Department Focus will be intensified on strengthening KWAP’s ability
• Digital Business Systems Function to facilitate more catalytic investments that directly
• Digital Security Function benefit the Malaysian economy, continue to grow its
• Digital Infrastructure Function fund size and, equally important, elevate service levels
• Digital Data Management Function for pensioners.
• Project Management Office – New Pension
System Digitalisation will be the primary thrust of TERAS 5 as
Activation of Strategy & Services Division: KWAP looks to become a digital savvy organisation
• Corporate Strategy Department (rebranded through nurturing citizen developers internally. By
Corporate Strategy & Performance leveraging on further data analytics to enhance real-
Department) time dashboards related to investments and pensioner
• Thought Leader Function data, KWAP will benefit from timely investments and
• Strategic Communications Department optimisation of opportunities.
(rebranded Corporate Affairs Department)
• Human Resource Department As part of upcoming plans, KWAP plans to diversify its
• Culture Management Function asset allocation towards a more private market with
• Legal & Secretarial Department three asset classes, namely property, private equity,
• Enterprise Projects Function
and infrastructure. This is mainly done to attain better
Activation of Retirement Service Division: returns due to the better growth the private market has
• Customer Experience Department been achieving, in comparison to the public market.
• Contribution Department TERAS 5 will better position KWAP in identifying,
• Pension Services Department understanding and addressing the risks that come with
this diversification.