In 2020, WHA Group adopted the Three Lines of Defence (3LOD) model to effectively enhance the communications on risk management and control by clarifying essential roles and duties of relevant employees involved. In the 3LOD model, management control is the first line of defence in risk management, the various risk control and compliance oversight functions established by management are the second line of defence, and independent assurance is the third. Each of these “lines” plays a distinct role within the organization’s wider governance framework. Therefore, the employee groups involved are functions that own and manage risks, functions that oversee risks and functions that provide independent assurance. All relevant functions are expected be well aware and communicated on such model to ensure effective risk management within the organization.

In 2021, WHA Group aims to conduct risk management trainings to employees at management levels throughout the business hubs. By conducting this training program, all employees will be wellaware of the risk profiles and risk mitigation measures at their responsible areas of work. Thus, enhancing an effective risk culture.

In addition, WHA Group aims to adopt digital innovations to promote effective risk culture. The Group is developing a digitalized system, equipped with an alarm, to portray all key risk statuses to effectively monitor and track the risk management implementation.