Encourage Reliable Financial Practices, Perbanas Holds CFO Forum II 2024

Photo: Special

JAKARTA - In the midst of globalization with very rapid changes, banks are faced with various challenges and opportunities that require visionary, resilient, and agile financial leadership (agile). Financial leaders, particularly the Chief Financial Officer (CFO), play a very important role in ensuring long-term sustainability and organizational growth.

Effective financial leadership is not only limited to asset management and liabilities, but also includes the responsibility to support sustainable initiatives, adopt new technologies, manage risks carefully, and ensure compliance with growing regulations.

Modern CFO must be able to surpass financial figures and reports and be the main driver in building strategies that support environmental and social sustainability.

PERBANAS as the National Bank Association has held the 2024 CFO FORUM II PLANT ON 1 - 3 August 2024 in Sanur, Bali, with the theme Navigating for Sustainability: Financial Leadership in a Changing World. The PERBANAS event was attended by national banking CFO, regulatory/OJK representatives, and several associations.

According to the Chairman of PERBANAS Kartika Wirjoatmodjo, this forum aims to explore how CFO and other financial leaders can anticipate a world that continues to change by adopting good financial practices, utilizing technological advances, and building resilience to global and national economic uncertainty.

In this Forum CFO, several themes that are the main discussion include, the CFO dynamic balancing short-term and long term business goals, transformation and organizational change, effective digital leadership, and data/cyber security strategy for banking institution. Through these discussions, it is obtained to share knowledge, insight, and a practical approach to managing banking into an industry that is ready to lead to a more sustainable, and prosperous future.

With the presence of industry experts, business leaders, and banking finance practitioners, this forum has succeeded in becoming an ideal platform for sharing insight, expanding professional networks, and finding innovative solutions for future financial challenges.

In connection with social challenges and relationships with cyber security, namely in the midst of the rise of online gambling, the Indonesian banking industry is fully committed to fighting all forms of online gambling practices that harm society and the economy.

Together with Bank Indonesia (BI) and the Financial Services Authority (OJK), PERBANAS emphasized that none of the banks support online gambling activities. The banking industry is determined to fight this illegal practice and take firm steps in efforts to eradicate it. Together with regulators and other financial service institutions, banks will continue to carry out joint movements of education and socialization regarding financial literacy and eradication of online gambling.

According to OJK Banking Supervision Chief Executive Dian Ediana Rae, when giving remarks at the CFO Forum, regulators and BURNS have consistently made various efforts to prevent and eradicate in accordance with their respective authorities.

OJK as a regulator, for example, has so far ordered banks to block more than 6,000 accounts indicated in connection with online gambling transactions.

"Regulators also ask banks to conduct an Enhance Due Diligence (EDD) on customers who are indicated to be related to online gambling transactions and report the transaction as a Suspicious Financial Transaction to PPATK," said Dian Ediana Rae.

OJK together with banks also continue to strive to increase the effectiveness of the implementation of the Anti-Money Laundering program, Prevention of Terrorism Financing, and Prevention of Funding for the Proliferation of Mass Destruction Weapons (APU, PPT and PPSPM).