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20Hong Kong Export Credit Insurance Corporation Annual Report 2010 -11

Business Operations and Organisation

21Hong Kong Export Credit Insurance Corporation Annual Report 2010 -11


Organisational Chart

Major Functions

• Newbusinessacquisition

• Businessretention

• Accountservicing

• Mediarelations

• Externalrelations

• Corporatecommunication

• Qualitymanagement

• Buyerunderwriting

• Countryunderwriting

• Creditinformationmanagement

• Reinsurance

• Internationalrelations

Commissioner

Deputy General Manager

General Manager

Marketing Divisions

Underwriting Divisions


Advisory Board Audit Committee

• Claimsandrecoveries

• Financeandaccount

• ITsystemdevelopment

• ITsystem maintenance

• Internalcontrolsystem

• Internalauditandcompliance

• Humanresourcesmanagement

• Officemanagementand administration

Claims &Finance Division

Human Resources and Office

Management Unit

Major Functions

Information Technology Divisions

InternalAudit Unit


22HongKongExportCreditInsuranceCorporation AnnualReport2010-11


MarketingDivisions,UnderwritingDivisionsandtheClaimsandFinanceDivisionhandletheCorporation’s

corebusinessoperations.TheMarketingDivisionshandlebusinessacquisition,businessretention,public

relationsactivityandqualitymanagement.TheUnderwritingDivisionsareresponsibleforriskassessment

andmonitoring.TheClaimsandFinanceDivisionhandlesactivitiesrelatingtolossminimisation,claims

processing,debtrecovery,investment,accountingandfinancialcontrol.

The powers, functions and duties of theCorporationmay be exercised or performed in its name

andon itsbehalfby theCommissioner,who is appointedby theChiefExecutiveof theHongKong

SpecialAdministrativeRegionGovernment.

Asat31March2011,thetotalnumberoftheCorporation’sstaffstoodat113(31March2010:110).The

seniormanagementconsistedof:

Commissioner

RalphLai

General Manager

CynthiaChin

Deputy General Managers

WalterTse

AmyWai

IyriaFan(acting)

Commissioner Ralph Lai (middle), General Manager Cynthia Chin (second left), and Deputy General Managers Walter Tse (first right), Amy Wai (first left) and Iyria Fan (second right).



Quality Policy

Wearecommittedtoprovidingprofessionalandcustomer-orientedservicesinsupportofHongKong’s

exporttrade,byupholdingtheprinciplesofTotalQualityManagementandbyfulfillingallourlegaland

customerrequirements.

Weencourage theconcertedparticipationofstaff atall levels toensurecontinuous improvement in

servicedeliveryofthehighestquality,andtoestablishareputationamongstourcustomers,HongKong’s

exporters,forexcellence,valueformoneyandconstantinnovation.

Thecomprehensivequalityobjectivesunderlyingallouractivitiesareregularlyreviewedandimproved

upon,basedonthecurrentandlikelyfutureneedsofcustomersforarangeofinsurancecoveranda

highstandardofservice.

OurqualitypolicytakestheformofaqualitymanagementsystemdevelopedonthebasisofISO9001:2008

requirements.Implementingthisistheresponsibilityofeachstaffmember.



Corporate Governance

TheCorporationhasalong-standingcommitmenttomaintaininghighstandardsofcorporategovernance

andhasworkedtoimprovetheinternalcontrolsystemwithavarietyofmeasuresthroughouttheyear.

Besidesroutinereportingonfinancialandcorporatematters,theCorporationmaintainsfrequenttwo-way

communicationwithitspolicybureau,theCommerceandEconomicDevelopmentBureau,toensurea

highleveloftransparency.TheCorporationhasaunitaryAdvisoryBoardcomprisingMemberswhodonot

participateinthedailyoperationsoftheCorporation.Formalinductiontrainingprogrammesareheldfor

newlyappointedMembers.TheBoardmeetsregularlytomonitorandtenderadviceoncorporatematters,

includingtheannualbudgetandcorporateplan,medium-termstrategicplan,performanceevaluationand

remunerationadjustments.Membersreceivereportsineachmeetingaboutmajordevelopmentsinthe

Corporation’sbusinessandtheactivitiesofsub-committees.

Duringtheyear,theCorporationappointedanexternalconsultanttoconductacorporategovernance

reviewandassistinthesettingupofanindependentinternalauditfunction.Asub-committeeofthe

AdvisoryBoard,theAuditCommittee,wasestablishedinFebruary2011,comprisingfournon-executive

Memberswhobringanindependent,externalperspective.TheMembershaveawealthofexperience

acrossanumberofindustriesandbusinesssectors.TheAuditCommitteemeetsthreetimesayearto

reviewinternalauditmattersandtoreportonsuchmatterstotheAdvisoryBoard.TheInternalAuditUnit

reportsdirectlytotheAuditCommitteeontheeffectivenessandefficienciesoftheCorporation’sinternal

controls.Withtheformalestablishmentofthissub-committeeandcommencementoftheinternalaudit

cycle,theCorporationbelievesthatcommunicationswiththeAdvisoryBoardwillbefurtherenhanced.

Inaddition,variousinternalcommitteescontinuedtoperformperiodicreviewsoncasestoensurethat

procedureswerebeing followed andproper approval hadbeenobtained. TheCorporationhas also

devoted considerable effort and resources to observing and implementingmarket best practice, for

instance,byactivelyconsideringtheframeworkforcorporategovernancebestpracticeforpublicbodies

andtheinsuranceindustry.Operationalguidelineswerereviewedandstrengthenedasappropriatewhen

improvementareaswereidentified.Riskmonitoringcontrolswerestrengthenedwithanewbuyer-risk

monitoringandratingsystem.TheCorporationplacesgreatvalueonethicalconductofbusinessand

encouragesmanagementandstafftoundertakecompliancewithapplicableregulationsandprocedures

throughtheCodeofConductandwhistle-blowingprocedures.Tofurtherreinforceitscorporatevalues,the

Corporationintroducedcontinuouslearningintheformofanannualcomplianceknowledgeassessment.



Corporate Culture and Human Resources

Corporate Culture

TheCorporation’scorporateculturehasopennessandtransparencyasitscorevalues.Understandingthe

importanceofcultureastheintangiblebuteffectiveguidetoindividualbehaviour,oureffortstocultivate

asenseofhonesty,reliabilityandconstantimprovementamongstaffareongoing.

Asalearningorganisationthatalwaysstrivesforexcellence,continuousimprovementandsustainable

development,theCorporation’speopledefineitspresentandfuture.ThebettermentoftheCorporation

wouldnotbepossiblewithoutthecommitmentandinvolvementofourstaffandweencouragestaff

inputsinprovidingever-improvingservicesfortheexportssector.Newinsightsandsuggestionsare

receivedfromstaffviatheannualStaffSuggestionCampaignandthestandingSuggestionBoxthroughout

theyear.Awidespectrumoftrainingisalsoprovidedtostaff.Alltheseinitiativesaimatenablingevery

staffmembertorealisetheirfullpotentialforestablishingtheCorporationasanindispensablepartnerto

HongKongexporters.

Human Resources

StaffisanimportantassetandstaffretentionremainsakeyfocusoftheCorporation.ItistheCorporation’s

keypriorityinmaintainingastable,motivatedandtalentedworkforce.Besideschannellingresources

into improving staff knowledge and skills, theCorporation also puts strongemphasis on enhancing

communicationatalllevelsby,forexample,arrangingcross-divisionsharingsessionsforexperienceand

knowledgesharingandencouragingstaffsuggestions.Asat31March2011,theCorporationemployed

113staffmembers,against110atthesametimelastyear.

Training and Development

The Corporation believes in the importance of

training in staff retention and staff development.

Although2010-2011wasayearofheavyworkload,

theCorporationdevoted resources toprovidestaff

withastimulatingrangeoftrainingopportunitiesto

enhancetheirskillsandworkefficiency.Attheend

ofthecalendaryear,theCorporationconducted its

annualtrainingsurveytoidentifythetrainingneeds

ofindividualstaff.Thesurveyresultsformthebasis

ofthetrainingplanforthecomingyear.

Staff members attending a training course.



In2010-11,52trainingactivitieswereprovided.Formanagement,majortrainingprogrammesincluded

performancemanagementandgoalsetting,problemsolving,timemanagementandothercontemporary

management concepts. In addition, both frontline and internal support staff had theopportunity to

participateinawiderangeoffunctionaltrainingactivities,whichmainlycoveredinternationaltradepractices,

financialmanagement,compliance,informationtechnology,customerserviceandcomplainthandling.

TheCorporationalsoarrangedaseriesofChina-relatedtrainingsessionstoenhancestaffknowledgeof

thebankruptcylaw,businessdevelopment,andgovernmentstructureoftheMainland.Thetrainingand

learningopportunitiesprovidedbytheCorporationduringtheyearhavehelpeddevelopanefficientand

motivatedworkforce.

In Pursuit of Quality

After upgrading its qualitymanagement system from ISO9001:2000 to ISO9001:2008 in 2009 for

continuingimprovementandclearlystateduser-friendlystandards,theCorporationwasagainfoundinfull

compliancewiththeISOstandardsandmanualsundertwoexternalauditsduringtheyear.Aninternal

auditwas also conductedwith pleasing results, demonstrating theCorporation’s focuson continual

improvementinservicequality.

Corporate Social Responsibility

TheCorporationbelieveseveryindividualandorganisationcanexertapositiveimpactonsocietyandthe

environment,andtirelesslyseeksopportunitiestoplayitspartinshoulderingcorporatesocialresponsibility.

Asalong-termsupporteroftheCommunityChest,theCorporationparticipatedinanumberoffundraising

activitiesincludingthe“DressSpecialDay”,“TheCommunityChestGreenDay”and“LoveTeethDay”

duringtheyear,andthestaffwasmobilisedtoparticipateintheRedCross’sblooddonationcampaign.

TheCorporationwasalsoinvolvedintheComputerRecyclingProgrammeofCaritasHongKong.Through

theseinitiatives,theCorporationaimedatheighteningstaffawarenessoftheimportanceofcaringfor

thecommunityandpeopleinneed.

Inaddition, inorder tobuildagreenworkingenvironment,environmental conservationconstitutesa

significantpartoftheCorporation’sagenda.Throughtheadoptionofthe“GreenProcurement”policy

andthepursuitofagreenoffice,theCorporationpromotesthereductionofenergyconsumptionandthe

recyclingofresources,graduallycreatingagreencultureamongitsstaff.Dailyoperationswillbereviewed

fromtimetotimetoimprovetheCorporation’sperformanceinenvironmentprotection.



International Relations

TheCorporationmaintains close cooperationwithmembersof the InternationalUnionofCredit and

InvestmentInsurers(theBerneUnion).RepresentativesoftheCorporationattendedtheBerneUnion

CommitteeMeetinginHelsinki,Finland,inJune2010,andtheAnnualGeneralMeetinginCapeTown,

SouthAfrica,inNovember2010.Atthesemeetings,membersexchangedprofessionalviewson,and

experiencesof,variousaspectsrelatedtointernationaltrade,internationalfinanceanddevelopmentsin

specificindustrysectorsandcountries.

TheCorporationalsoplaysanactiveroleinthe

informalRegionalCooperationGroup(RCG)that

consistsofAsianexportcreditagencies(ECAs)

fromAustralia,China, India, Indonesia, Japan,

Malaysia,SriLanka,SouthKorea,Taiwan,Thailand

andHongKong. Besidesparticipating in the

RCGmeetingsheldconcurrentlywiththeBerne

UnionMeetings,representativesalsoattended

aspecialmeetingheldinCairns,AustraliainJuly

2010.Themeeting,chairedbythePresidentof

theBerneUnionandattendedby11AsianECAs

andtheSecretary-GeneraloftheBerneUnion,

discussedlessonslearntfromtheglobalfinancial

crisisandcooperationopportunitiesintheform

ofreinsurance,informationsharingandtraining.

TheCorporationalsosentstafftoseveraloverseas

workshops,includingashipfinanceworkshopin

Oslo,Norway,aclaimsandrecoveriesworkshop

inVienna,Austria,andanexportcreditinsurance

workshopinTokyo,Japan.

AspartofcooperationeffortswithRCGmembers,theCorporationsignedaMemorandumofUnderstanding

(MOU)withtheChinaExport&CreditInsuranceCorporation(SINOSURE)inOctober2009.Underthe

MOU,theCorporationattendedtheannualexchangemeetinghostedbySINOSUREinZhuhai,China,in

October2010.

Commissioner Ralph Lai (third right, front row) and Deputy General Manager Iyria Fan (third right, back row) attended the third meeting of Regional Cooperation Group (RCG) of the Berne Union which was held in Cairns, Australia from 27 to 29 July 2010.

The first annual exchange meeting between ECIC and the China Export & Credit Insurance Corporation (SINOSURE) was held in Zhuhai from 19 to 20 October 2010.

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