Initiatives for Internal Control
We have resolved the "Fundamental Policy for Establishment of Internal Control Systems" at a meeting of the Board of Directors as a fundamental policy related to the establishment of a system for ensuring proper operations. Pursuant to the aforementioned policy, the Company is striving to establish appropriate internal control systems, including the development of the following systems:
- System for ensuring the execution of duties by the Executive Officers and employees of Japan Post Insurance is in compliance with laws and regulations and the Articles of Incorporation
- System for retaining and managing information concerning the execution of duties by the Executive Officers
- System and rules for managing the risk of loss to Japan Post Insurance
- System for ensuring the efficient execution of duties by the Executive Officers
- System for ensuring proper operations within the corporate group comprising Japan Post Insurance and Japan Post Holdings, and subsidiaries of Japan Post Insurance
- System for ensuring effective audits by the Audit Committee
Internal Control Systems (Business Execution)
Important management decisions related to business execution are first discussed by the Executive Committee and then made by the President, CEO, Representative Executive Officer. The Executive Committee is comprised of the President, CEO, Representative Executive Officer and the Executive Officers in charge of the respective business operations. In addition, we set up the following 10 specialized committees to serve as advisory bodies to the Executive Committee. Among the items subject to approval of each Executive Officer, cross-divisional issues are discussed by the respective specialized committees.
- 1.
- Financial Management Committee
- 2.
- Risk Management Committee
- 3.
- Compliance Committee
- 4.
- Customer Experience Committee
- 5.
- Product Development Committee
- 6.
- Administrative and IT Systems Reform Committee
- 7.
- Work Style Reform Committee
- 8.
- Information Security Committee
- 9.
- Disclosure Committee
- 10.
- Sustainability Committee
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- Furthermore, in order to promptly and reliably implement measures under the leadership of management and improve solicitation quality, we have established a Customer-first Solicitation Committee and hold discussions.
Internal Audit System
We have established the Internal Audit Department, which is independent from our executing departments, to contribute to sound and appropriate business operations. The Internal Audit Department carries out internal audits of the head office, regional headquarters, branches, our subsidiaries, and agencies to review the execution status of management activities and the design and operation of each Internal Control System including compliance, and risk management in accordance with the "International Standards for the Professional Practice of Internal Auditing" developed by the Institute of Internal Auditors (IIA). The Internal Audit Department directly reports the results of internal audits to the President, CEO, Representative Executive Officer, the Audit Committee, and the Board of Directors, thereby ensuring the effectiveness of internal audits.
The Internal Audit Department has also taken steps to strengthen the Internal Audit System through efforts such as improving internal audit quality, enhancing internal audit framework and awareness, securing and developing human resources, and further cooperating with the Audit Committee, executives and business-executing departments.
