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PIDM's Corporate Plan for the period 2006 to 2008 sets out the business strategies and specific initiatives that will enable it to build a sound organisational foundation and work towards the achievement of its statutory mandate. The Plan is based on an assessment of the Corporation’s current environment and on a set of clear planning assumptions.
The Plan defines and details the four business strategies that provide the focus for all key activities and initiatives over the planning period. These strategies are:
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Readiness |
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Sound business and financial practices |
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Public awareness |
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Strong partnerships |
The Plan also sets out the specific initiatives that are to be achieved during the planning period. The specific initiatives are identified based on the Corporation’s activities namely:
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Finance |
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Human resource management |
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Internal audit and consulting services |
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Policy and international |
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Administration |
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Legal |
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Risk assessment and monitoring |
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Communications and corporate services. |
Based on these activities, the initiatives have been prioritised and sequenced to ensure that a sound organisational foundation is quickly developed and implemented.
The preparation of the corporate plan takes into account the current operating environment of the Corporation. Current trend in the global economy points to a more challenging external sector and the interest rate policy continues to remain tight. At the domestic front, the Malaysian economy is expected to remain favourable with strong and stable financial system. Given that the Corporation just started its operation, focus will be on building a strong corporate foundation, developing people with the right skill sets and providing appropriate systems, policies and practices to administer an effective deposit insurance system.
In addition to its current operating environment, the Corporation also takes into account several key planning assumptions in preparing its corporate plan. These include:
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unchanged statutory mandate |
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stable financial system |
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no failure of member institutions |
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the same number of member institutions |
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the adopted business model |
The Corporation sets its strategic direction in the Plan where its mission, vision and values are formulated. The mission statement will communicate to its various stakeholders on the objectives of the Corporation’s activities while the vision is to perform its mandate and manage its business and affairs in a manner that it can be recognised regionally and globally. To support the mission and vision, the Corporation adopts five core values that guide the Corporation’s operations and shape its working culture. These are:
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excellence and professionalism |
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integrity and trustworthiness |
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communication and teamwork |
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respect and fairness |
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financial stewardship |
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