Internal Control Systems
Japan Post Insurance considers the establishment of strong internal control systems to be extremely important to increasing our corporate value and to our goal of becoming the most highly trusted insurance company. We will establish systems for the execution of our business based on the principle of self-responsibility and will continue our efforts to enhance our organization and systems.
Outline of Organization and Systems
We have adopted a company with three committees system, which separates the roles of management supervision and business execution, assigning the former to the Board of Directors and the latter to the Executive Officers, to establish clear responsibility for management of the Company.
Within the organization of the Board of Directors, we have set up three committees, the Nomination Committee, the Audit Committee and the Compensation Committee, to ensure the fairness of the management supervision function to be performed by the Board of Directors.
Important management decisions related to business execution are first discussed by the Executive Committee and then made by the President, CEO. The Executive Committee comprises the President, CEO and the Executive Officers in charge of respective business operations. In addition, we set up the following nine specialized committees to serve as an advisory body to the Executive Committee. With regard to such matters delegated to each Executive Officer, cross-sectional issues are discussed by the respective specialized committees.
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Japan Post Insurance Fundamental Policy for Establishment of Internal Control Systems
- System for ensuring execution of duties by the Executive Officers and employees in compliance with laws and regulations and the Articles of Incorporation of Japan Post Insurance
- 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
- Matters concerning employees who are to assist the duties of the Audit Committee
- Matters related to maintaining the independence of employees who are to assist the duties of the Audit Committee from the Executive Officers, and matters related to ensuring the effectiveness of instructions given by the Audit Committee to these employees
- System for the Executive Officers and employees to report to the Audit Committee, and other systems of reporting to the Audit Committee
- Procedures for making advanced payment or reimbursement of expenses to be incurred in the execution of duties by the members of the Audit Committee, and matters concerning a policy for the handling of expenses or debts to be incurred in the execution of such duties
- Other systems for ensuring effective audits by the Audit Committee