OJK And Professionals Agree To Encourage Strengthening Risk Management In The Financial Services Sector

Illustration (Photo: Doc. Antara)

The Financial Services Authority (OJK) is said to hold a meeting with the Indonesia Risk Management Professional Association (Irmapa) related to good corporate risk management and governance in supporting increased performance in financial services.

Chairman of the OJK Audit Board Sophia Wattimena said strengthening and implementing risk management had a direct impact on the implementation of duties and functions of the authorities, both in terms of regulation, supervision and consumer protection.

"OJK will also formulate and refocus risks that have a significant impact," he said in a written statement, Wednesday, December 21.

According to Sophia, her party has various information with Irmapa regarding a number of issues in the application of risk management in connection with the rapid advancement of technology, the increasingly complex business processes as well as measurements and presentations of reports.

"We believe that OJK together with professionals can strengthen the implementation of risk management in companies, especially companies engaged in the financial services sector," he said.

On the same occasion, Chairman of Irmapa Charles R. Vorst stated that his party is committed to continuing to be a liaison for stakeholders to find best practices from the implementation of risk management.

"In the end, it is hoped that the implementation of risk management in Indonesia will be carried out better and more accelerated," he said.

Charles added that top risk business actors could be the initial foundation to see the risks the company faces the following year and formulate mitigation as part of the company's risk management.

"Through the implementation of good risk management and governance, it is hoped that it will encourage sustainable improvement in company performance in the future," said Charles.