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ENRICHING PERFORMANCE AND COMMITMENTS ENRICHING ACCOUNTABILITY AND INTEGRITY ENRICHING RESILIENCE AND SUSTAINABLE GROWTH OTHER INFORMATION

R9 Reputational Risk

Reputational risk refers to the potential for Our response:
damage to an individual’s or organisation’s • Maintain proactive communication with stakeholders,
reputation, credibility or goodwill due to actions, including customers, employees and regulators by
events, or perceptions. It can arise from various providing regular updates and reporting.
factors such as ethical breaches, poor customer • Engage in Corporate Social Responsibility activities to
experiences, scandals, or negative publicity. demonstrate KWAP’s commitment to ethical practices,
Reputational risk is significant because a sustainability, and positive social impact.
tarnished reputation can lead to lost trust, • Conduct a series of culture-related events to foster a
decreased business opportunities and long- corporate culture on ethical practices and behaviour to
term damage to an organisation’s brand and ensure the employees understand their role in protecting
value. KWAP’s reputation.
Risk Category: Traditional Risk

R10 People Risk

People risk refers to the potential for negative Our response:
outcomes or losses resulting from the actions, • Implement thorough background checks and vetting
behaviour, or performance of individuals processes in the recruitment process to ensure the new
within an organisation. This encompasses hires align with KWAP’s values.
a wide range of factors, including employee • Provide regular training programmes to enhance
turnover, talent shortages, inadequate employees’ skills and knowledge to ensure they are well
training, misconduct and cultural issues. equipped in performing their roles.
Managing people risk involves strategies • Develop a comprehensive succession plan for effective
such as effective hiring practices, training and transition of key roles whilst nurturing high potential
development programmes, creating a positive employees to step into critical positions when required.
work environment and implementing robust • Enhance KWAP corporate culture based on purpose,
performance management systems to mitigate trust and camaraderie.
potential negative impacts on organisational
success.

Risk Category: Traditional Risk

For more details on our risk management, please refer to Statement of Risk Management and Internal Control on page 117 to 127.

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