Risk
management is a part of Good Corporate Governance. Due to the
importance of risk management, the Law and Management Risk Division, as
stated in Director Decree No.007/Kpts/Dir/2006 dated 12 January 2006,
was established in 2006.
Besides performing law aspect’s function, Law and Risk Management
Division is expected to make the company risk management can be more
efficient and effective, including initiating a study toward company’s
agreement document with external party to comprehend the prevailing law
regulation and still considering risk aspect. Strategic, Risk Management
and Investment Committee, as explained before, was established to
support the duty of the Commissioner, especially in relation with the
management and assessment of the Company’s risk.
By the year 2006, the perception toward the risk concept had been
conformed. The management workshop was held, aimed to create risk
awareness for the leaders with the assistance from independent
consultant. The conformed perception toward the risk concept is very
important because it will facilitate the implementation of an effective
and efficient risk management, and well integrated.