Page 101 - PSTC - One Report 2023 (EN)

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Power Solution Technologies Public Company Limited
9. Supervise, monitor, and approve all issues related to the company’s operations. Alternatively, appoint one or more persons to carry out operations under the authority of the Executive Committee, or grant authority as deemed appropriate by the Executive Committee within a suitable time frame. The Executive Committee also has the power to cancel, change, or amend such authority as it sees fit. The assignment of authority, duties, and responsibilities of the Executive Committee must not entail the authorization or sub-authorization which allows the Executive Committee or those granted authority by the Executive Committee to approve the transactions of which themselves or the individuals may have conflicts (as defined in the Notification of the Securities and Exchange Commission), stakeholding, or any conflicts of interest with the Company and/ or its subsidiaries, except when the approval of transactions is in accordance with the policies and criteria considered and approved by the Board of Directors. This is in compliance with the laws on securities and stock exchange, as well as the regulations, announcements, orders or requirements of the Stock Exchange of Thailand, the Office of the Securities and Exchange Commission, the Capital Market Supervisory Board, or any other laws in related issues.
10. Consider, review, and improve the Executive Committee Charter before presenting to the Board of Directors for consideration and approval.
11. Perform any other duties as assigned by the Company’s Board of Directors.
Risk Management Committee
The Risk Management Committee has been established to help support the Board of Directors in setting risk management policies to cover the overall organization, including the supervision on the preparation of the risk management system or process to appropriately reduce the impact on the Company’s business.
Authority, duties, and responsibilities
1. Establish the risk management policy framework and the Company’s overall risk management guidelines, along with a framework for organizational risk management to present to the Board of Directors for consideration on the issue of overall risk management of the Company which covers important types of risks as follows:
1.1 StrategicRisk
1.2 OperationalRisk
1.3 FinancialandAccountingRisk 1.4 ComplianceRisk
1.5 InformationSystemRisk
1.6 Anti-corruptionRisk
2. Determine strategies for risk management consistent with the risk management policy as well as the Company’s business strategy and direction.
3. Review for the Company to have an appropriate and efficient business risk management policy, in line with monitoring, evaluating, and supervising the management’s risk management process at an appropriate level and in accordance with the specified policy.
4. Arrange for systematic and continuous assessment and analysis of potential risks both in normal conditions and crisis so that the risk survey covers every step of business operations.