President Prabowo Subianto has proposed two names of candidates for Deputy Chairperson of the Board of Commissioners of the Deposit Insurance Corporation (LPS) to the House of Representatives (DPR-RI).
The two names are written in letter number R28/pres/05/2025 dated May 20, 2025 which has been discussed in the DPR plenary meeting.
Economist and Public Policy Expert UPN Veteran Jakarta, Achmad Nur Hidayat assessed, the election of the new Deputy Chairperson of the LPS DK must create a new transformation towards protecting customers' savings.
Not only protecting customers' savings, LPS must also be responsive to anticipate bank and insurance defaults amid global uncertainty.
"In the midst of an increasingly uncertain world, LPS must be able to build an early warning system based on real-time and predictive data. And must be responsive to the potential for default from both banks and insurance," said Achmad.
In addition, Achmad continued, the investment strategy of guarantee funds must also be more progressive, diversified, but still conservative in maintaining the value of managed funds.
With the total premiums that are now starting to be collected from bank companies and insurance, LPS must build a risk monitoring system, solvency assessment mechanism, and prepare reserve funds to deal with potential claims.
The DPR itself ensures that the fit and proper test process for the candidates for Deputy Chairperson of the LPS DK will be carried out during the fourth trial which falls on June 24-July 24, 2025.
At least, there are three absolute requirements that must be owned by the candidate for Deputy Chairman of the Board of Commissioners of the Deposit Insurance Corporation (LPS).
These conditions are considered crucial to ensure effective leadership in facing new LPS challenges in accordance with the mandate of the Financial Sector Development and Strengthening Law (UU P2SK).
First, candidates must have the ability to answer the new LPS challenges as regulated in the P2SK Law.
The two main aspects that are emphasized are the ability to guarantee insurance policies and the new role of LPS in the function of early intervention.
This function allows LPS to take proactive steps in dealing with banks before being declared a failure, thereby strengthening financial system stability.
Second, LPS DK candidates must also understand the LPS operations in depth. Deputy Chairperson of the LPS Board of Commissioners has a big responsibility in managing operational functions, such as finance, human resources (HR), procurement of goods and services (procurement), information technology (IT), governance, risk management, and compliance (compliance). In addition, candidates must also have expertise and experience in bank resolution and insurance to ensure the right decision-making.
Third, considering that LPS is an institution that focuses on resolution, candidates must have qualified experience in dealing with problems in the banking and insurance sectors. High flying hours in dealing with crises or problems in these two sectors are an important requirement to lead LPS effectively.
The track record and experience of each candidate is carefully studied to determine who meets the three requirements the most. The right selection of figures will greatly determine the success of LPS in carrying out its mandate to maintain national financial stability.
Farid Azhar Nasution's career journey is arguably complete, not only has he held positions in the private sector, he has also held several important positions in government as a regulator for the financial industry.
Farid is a member of the LPS Supervision Agency who has served since December 2023.
Based on his personal LinkedIn account, he studied Diploma Accounting at the State Accounting College (now State Financial Polytechnic of State Accounting College or STAN PKN) and graduated in 1992.
Farid also completed his Postgraduate Diploma study at Prasetiya Mulya University in 2004 and undergraduate in the management of the Bogor Agricultural Institute (IPB) University in 2016. He also participated in the Executive Program at London Business School twice in the field of Merger and Acquisition (2017) and Advanced Company Finances (2018).
Farid started his career as an Auditor at the Ministry of Finance (Kemenkeu) in 1992-1995. He has also worked as a Tax and Management Consultant at KPMG Indonesia (1995-1999), and a Finance Manager at dentsu Indonesia (1996-1999).
Farid has also joined PT Bahana Pembinaan Usaha Indonesia or Indonesia Financial Group (IFG) as Manager - Supervisor of Subsidiaries (2000-2004), Assistant Vice President - Supervisor of Subsidiaries (2004-2006), Assistant Vice President - Permanent Revenue (2006-2012), and Joint Head of the Debt Capital Market (2012-2014).
At LPS, Farid was the Head of the Investment Division (2014-2017), the Director of Treasury (2017-2020), and the Director of International Relations (2020). He also held the position of Director of Finance and Investment of PT Asuransi Jiwasraya (Persero) (2020-2021), Director of Finance and Investment of IFG Life (2021-2022)
Farid was once listed as a member of the resolution team to deal with the problems that occurred in Jiwasraya. His name is listed as a member of the Social Team for the Jiwasraya Policy Restructuring Program.
Farid was noted to have acted as Director of Consultation and Institutional Operations at Henan Asset Management in 2022-2024, as well as Senior Advisor since 2024 until now. He is also still a member of the IFG Integrated Committee since 2024.
Launching the official website of Bank Indonesia (BI), Doddy Zulverdi is the Executive Director - Head of the BI Department of Strategic Management and Governance.
He was born in Bandung, West Java, in 1969.
Doddy completed a bachelor's degree (S1) study in Economic Science and Development Study at Padjadjaran University (Unpad) in 1991.
Doddy then continued his education at Columbia University, United States, and earned a master's degree (S2) in Economics Policy Management in 1997.
Doddy started his career in BI since 1993. At the central bank of Indonesia, he has served as Head of the Monetary Management Department (2015-2018), Head of the International Department (2018), Head of the Bank Indonesia Representative Office (KPwBI) of North Sumatra Province (2022-2023), and Head of KPwBI East Java Province (2023).
The English, Chinese, Japanese, Arabic, and French versions are automatically generated by the AI. So there may still be inaccuracies in translating, please always see Indonesian as our main language. (system supported by DigitalSiber.id)
