The Audit Committee Charter is prepared as a guideline for the Audit Committee in carrying out its duties and responsibilities in a consistent, transparent and independent manner and in accordance with applicable regulations based on POJK stipulations.
This guideline is a work guideline for the Remuneration and Nomination Committee in carrying out its duties and responsibilities, which is part of the creation of a Good Corporate Governance system.
Company Risk Management
Company Risk Management is a process in planning, managing, controlling and monitoring the activities of the Company to reduce risks that can have an impact on the condition of the Company's capital management and income. Risk Management in the Company covers credit, financial (liquidity and funding), operational, legal and regulatory, strategic / business risks, and other risks faced by the Company in daily activities.
BFI applies a holistic risk management approach to manage the risks faced and their potential impacts on financial performance. Control over risks is carried out by identifying and evaluating the main risks faced by the Company, developing mitigation strategies and controls to manage risks, and measuring the level of risk after risk control is carried out.
By implementing a comprehensive risk management system, it allows the Company to effectively manage risk exposure so that it can estimate risk portfolios and take preventive actions and maximize the achievement of profits.
Risk Management System
With increasing business competition, good, measured and documented risk management practices are the main pillars in every decision making process. The company operates in a very dynamic environment characterized by intense competition, a growing customer demographic, changing legal conditions and an ever-challenging macroeconomic climate. Senior management is responsible for effectively controlling the risks faced by the Company to estimate potential risks and implement preventive actions. This provides certainty for stable and healthy profit growth.
The Company's Framework Guidelines in risk management systems are based on the Three Lines of Defense approach, which consists of oversight, control and management functions.