5. Information System Technology IT
Bank Indonesia has adopt ed t he f ollow ing provisions concerning IT:
a. Banks may operat e t heir ow n IT syst ems or use out sourcing;
b. If a bank operat es it ow n IT syst em , t he bank m an ag em en t sh al l b e r eq u i red t o ap p l y
management cont rol and carry out t he IT int ernal au d it f u n ct io n in co m p lian ce w it h p revailin g
regulat ions; c. If t h e IT syst em is o u t so u rced , in ad d it io n t o
complying w it h t he provisions set f ort h in it em ii above, t he bank shall also evaluat e t he reliabilit y of
t h e IT service p ro vid er an d p rep are a w rit t en agreement stating that Bank Indonesia may conduct
examinat ion and deliver a copy of t hat agreement t o Bank Indonesia;
d. Banks are required t o inf orm Bank Indonesia of any f undament al changes in t he use of IT.
6. Application of Risk M anagement for Commercial Banks
In line w it h t he rapid grow ing in t he ext ernal and int ernal environment of t he banking syst em and t he
increasing complexity of business operation, banks are required t o apply risk management in an eff ect ive
manner. Applicat ion of Risk M anagement shall encompass at
least t he f ollow ing :
●
Act ive supervision by t he Board of Commissioners and Board of Direct ors;
●
Adequacy of policy, procedure, and est ablishment of limit s;
●
A d eq u acy o f p ro cesses o f i d en t i f i cat i o n , measurement , monit oring and cont rol of risk and
t he risk management inf ormat ion syst em; and
●
Comprehensive int ernal cont rol syst em. For t he purpose of implement ing eff ect ive processes
and syst em of risk management , banks are required t o est ablish :
100
a. A Risk M anagement Commit t ee t hat consist of at least t he majorit y of t he Board of Direct ors and
relevant execut ive off icers. b. A Risk M anagement Unit that must be independent
and shall be responsible direct ly t o t he M anaging Direct or or t o a specially assigned Direct or.
Banks are also required t o disclose t o t heir cust omers t he risk inherent in new product s and act ivit ies.
7. Applicat ion of Risk M anagement in Int ernet Banking
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