Rabu, Juli 31, 2024

OJK Enhances Synergy and Collaboration in GRC to Strengthen Governance of Financial Services Sector

In an effort to strengthen governance and integrity within the financial services sector, the Financial Services Authority (Otoritas Jasa Keuangan – "OJK") is looking to enhance collaborations with ministries, professional associations and academia within the fields of Governance, Risk and Compliance ("GRC").
OJK Audit Board Chair, Sophia Wattimena, has stated that in order to support national development and collaborative governance as the country moves towards the realization of Indonesia Emas 2045, GRC functions within the financial sector must drive synergy, particularly in terms of optimizing Environment, Social and Governance ("ESG") risk management, as well as the implementation of sustainability and addressing cybersecurity issues.
Mrs. Wattimena made these remarks during a Pre-Risk & Governance Summit ("RGS") Forum that was themed “Enhancing Awareness of the Financial Services Industry and GRC Professional Associations in Cybersecurity Risk and Climate Change Risk.”
The Pre-RGS Forum, organized by OJK, included active participation from stakeholders and discussed a number of significant GRC issues. These discussions will subsequently inform the themes that will be discussed during the 2024 RGS Forum, which has been scheduled for November 2024.
The forum addressed the implementation of ESG issues and sustainability, as well as cybersecurity management, with insights being offered by practitioners, academics and professional GRC associations.
Key points that emerged during the ESG and sustainability discussions included the need for standardized sustainable reporting and assurance, the role of accountants in relation to ESG transparency and the importance of collaboration among government, industry, academia and GRC bodies in order to raise awareness, encourage development and enforce monitoring to ensure the continuity of ESG programs and policies.
During the cybersecurity discussions, areas of focus included evaluation and compliance with the Personal Data Protection Law, mitigating IT collaborations with third parties that pose cybersecurity risks, enhancing understanding and awareness of cybersecurity among human resources, and the development of ecosystems that are capable of identifying and addressing cyberattacks.
The 2024 RGS Forum will prioritize synergy and collaboration among ministries, professional GRC associations, academia and other stakeholders. The forum will also delve into the various strategic topics that were brought up during the Pre-RGS discussions in an effort to meet the current needs of the financial services sector and stakeholders alike, offer support for nationally strategic programs and reinforce the OJK’s message on governance and integrity within Indonesia. _(ANT)

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In an effort to strengthen governance and integrity within the financial services sector, the Financial Services Authority (Otoritas Jasa Keuangan – "OJK") is looking to enhance collaborations with ministries, professional associations and academia within the fields of Governance, Risk and Compliance ("GRC").
OJK Audit Board Chair, Sophia Wattimena, has stated that in order to support national development and collaborative governance as the country moves towards the realization of Indonesia Emas 2045, GRC functions within the financial sector must drive synergy, particularly in terms of optimizing Environment, Social and Governance ("ESG") risk management, as well as the implementation of sustainability and addressing cybersecurity issues.
Mrs. Wattimena made these remarks during a Pre-Risk & Governance Summit ("RGS") Forum that was themed “Enhancing Awareness of the Financial Services Industry and GRC Professional Associations in Cybersecurity Risk and Climate Change Risk.”
The Pre-RGS Forum, organized by OJK, included active participation from stakeholders and discussed a number of significant GRC issues. These discussions will subsequently inform the themes that will be discussed during the 2024 RGS Forum, which has been scheduled for November 2024.
The forum addressed the implementation of ESG issues and sustainability, as well as cybersecurity management, with insights being offered by practitioners, academics and professional GRC associations.
Key points that emerged during the ESG and sustainability discussions included the need for standardized sustainable reporting and assurance, the role of accountants in relation to ESG transparency and the importance of collaboration among government, industry, academia and GRC bodies in order to raise awareness, encourage development and enforce monitoring to ensure the continuity of ESG programs and policies.
During the cybersecurity discussions, areas of focus included evaluation and compliance with the Personal Data Protection Law, mitigating IT collaborations with third parties that pose cybersecurity risks, enhancing understanding and awareness of cybersecurity among human resources, and the development of ecosystems that are capable of identifying and addressing cyberattacks.
The 2024 RGS Forum will prioritize synergy and collaboration among ministries, professional GRC associations, academia and other stakeholders. The forum will also delve into the various strategic topics that were brought up during the Pre-RGS discussions in an effort to meet the current needs of the financial services sector and stakeholders alike, offer support for nationally strategic programs and reinforce the OJK’s message on governance and integrity within Indonesia. _(ANT)

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