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The Asset and Liability Committee (ALCO) is a Committee at the Head Office responsible to develop and establish the assets and liabilities policies and Fund Transfer Price (FTP) rates stipulation.

Membership Structures

ALCO Membership as at 31 December 2020:

Membership Structures Position Voting Rights Structures
President Director Chairman
Vice President Director Substitute Chairman (and Permanent Member)
Division Head of Assets & Liabilities Management Secretary (and Permanent Member)
Director of Finance Permanent Member
Director of Micro Business Permanent Member
Director of Small, Retail & Medium Business Permanent Member
Director of Institutional & SOE Relations Permanent Member
Director of Consumer Permanent Member
Director of Network & Services Permanent Member
Director of Digital, Information Technology & Operations Permanent Member
Director of Risk Management Permanent Member
Director of Human Capital Permanent Member
Director of Compliance Permanent Member -
SEVP Treasury & Global Services Permanent Member
SEVP Corporate Banking Permanent Member
SEVP Fixed Assets Management and Procurement Permanent Member
SEVP Change Management & Transformation Office Permanent Member
SEVP Internal Audit Unit Permanent Member -
EVP Corporate Banking 1 Division Permanent Member
EVP Corporate Banking 2 Division Permanent Member
EVP SOE Business 1 Division Permanent Member
EVP SOE Business 2 Division Permanent Member
EVP Syndication and Financial Services Division Permanent Member
EVP Institutional Business Division Permanent Member
EVP Transaction Banking Division Permanent Member
EVP Social Entrepreneurship & Incubation Division Permanent Member
EVP Wealth Management Division Permanent Member
EVP Consumer Lending Sales & Development Division Permanent Member
EVP Card & Digital Lending Division Permanent Member
EVP Mass Funding Division Permanent Member
EVP Retail Payment Division Permanent Member
EVP Treasury Business Division Permanent Member
EVP Investment Services Division Permanent Member
EVP Internasional Business Division Permanent Member
EVP Micro Sales Management Division Permanent Member
EVP Small Sales Management Division Permanent Member
EVP Small & Medium Business Development Division Permanent Member
EVP Medium Business 1 Division Permanent Member
EVP Medium Busines 2 Division Permanent Member
EVP Micro, SME, Consumer Credit Risk & Policy Division Permanent Member
EVP Market, Portfolio & Enterprise Risk Management Division Permanent Member
EVP Wholesale Credit Risk Analyst Division Permanent Member
EVP Credit Restructuring & Recovery Division Permanent Member
EVP Corporate Development & Strategi Divison Permanent Member
EVP Financial & Management Accounting Division Permanent Member
EVP Change Management Division Permanent Member
EVP Project Management Office Permanent Member
Head of Regional Office Jakarta 1 Permanent Member
Head of Regional Office Jakarta 2 Permanent Member
Head of Regional Office Jakarta 3 Permanent Member
Head of Special Branch Permanent Member

Duties and Responsibilities

  1. The Asset and Liability Committee (ALCO) has the following duties and responsibilities:
    1. Evaluate the Company’s performance and to determine the strategy and policy of optimum asset and liability management by considering the potential risk, optimum yield generation, and cost efficiency.
    2. Determine the interest rates on deposit, lending rate, Prime Lending Rate (PLR), Fund Transfer Price (FTP), and other pricing that directly impact Net Interest Margin (NIM) achievement.
    3. Determine the Decision Makers authority in deciding interest rate on deposits, loans and/or other bank products.
    4. Defining the Net Open Position (NOP) policy.
    5. Monitoring that the asset and liability management in the company is carried out in accordance with ALCO Meeting’s decisions.
  2. The Assets & Liabilities Management Function, Assets & Liabilities Management Desk as ALCO Supporting has the following duties and responsibilities:
    1. Analyse and provide recommendations on optimum assets and liability management strategy as a basis for determining the strategy by the Asset and Liability Committee (ALCO) by referring to the Company’s performance targets.
    2. Formulate and develop the scenarios for interest rates on deposits, loans and other bank products.
    3. With other relevant Units, conduct analysis and develop alternative recommendations in pricing in accordance with the developments of market interest rates and macroeconomic conditions.
    4. With other relevant Units, develop funding strategy based on the Bank work plan and budget, market conditions and/or other references.
    5. Analyse and monitoring of net open position (NOP).
    6. Analyse and provide data according to ALCO requirements.
    7. Coordinate the ALCO Meetings according to rules and set forth work plans.
    8. Distribute and administer the ALCO Meeting resolutions as well as monitoring the follow up from relevant Units.

Committee Charter

  1. Convene the ALCO Meeting at least once in a month.
  2. The ALCO Meeting is chaired by the Chairman of ALCO. In the event that the ALCO Chairman is unable to attend, the ALCO Meeting shall be chaired by the Substitute ALCO Chairman in sequence.
  3. The ALCO Meeting shall be attended by at least 2/3 (two thirds) of ALCO Members.
  4. ALCO Secretary coordinates and is responsible on the convention of ALCO Meetings.
  5. In the event that the ALCO Secretary who is an ALCO Member is unable to attend, then his/her position is carried out by AVP Assets & Liabilities Management.
  6. In the event that the Unit Head who is an ALCO Member is unable to attend, then he/she can appoint a representative at the level of or at least the Head of AVP.
  7. The Secretary of ALCO may invite relevant participants to attend ALCO according to the topics discussed in ALCO.
  8. In the event of a very urgent condition (contingency) for ALCO to implement, but the Chairman and/or Substitute Chairman is unable to chair the meeting, the Chairman of ALCO may delegate to one of the Directors to lead ALCO which decision letter is approved by the Chairman of ALCO and administered by Secretary of ALCO.

Limited ALCO Meetings

  1. The Asset and Liability Committee (ALCO) incidentally can hold a Limited ALCO Meeting to discuss the assets and liability management on BRI’s strategies and policies in the event of specific issues that requires immediate decision by ALCO Meeting.
  2. Chairman of ALCO or Substitute Chairman of ALCO and Secretary of ALCO has the authority to determine the ALCO Members requested to attend the ALCO Limited Meeting in a separate Invitation Letter.
  3. The ALCO Limited Meeting shall be attended by all ALCO Members as stipulated.

Committee Meetings

ALCO has convened 12 Meetings in 2020 with the following details:

No Date Agenda Meetings
1. 20.01.2020 Economic Briefing of Assets & Liabilities
Performance of BRI Shares Development Based on ALCO Meeting Decision
2. 21.02.2020 Economic Briefing of Assets & Liabilities
Performance of BRI Shares Development Based on ALCO Meeting Decision
3. 20.03.2020 Economic Briefing of Assets & Liabilities
Performance of BRI Shares Development Based on ALCO Meeting Decision
4. 16.04.2020 Economic Briefing of Assets & Liabilities
Performance of BRI Shares Development Based on ALCO Meeting Decision
5. 15.05.2020 Economic Briefing of Assets & Liabilities
Performance of BRI Shares Development Based on ALCO Meeting Decision
6. 18.06.2020 Economic Briefing of Assets & Liabilities
Performance of BRI Shares Development Based on ALCO Meeting Decision
7. 16.07.2020 Economic Briefing of Assets & Liabilities
Performance of BRI Shares Development Based on ALCO Meeting Decision
8. 13.08.2020 Economic Briefing of Assets & Liabilities
Performance of BRI Shares Development Based on ALCO Meeting Decision
9. 16.09.2020 Economic Briefing of Assets & Liabilities
Performance of BRI Shares Development Based on ALCO Meeting Decision
10. 14.10.2020 Economic Briefing of Assets & Liabilities
Performance of BRI Shares Development Based on ALCO Meeting Decision
11. 12.11.2020 Economic Briefing of Assets & Liabilities
Performance of BRI Shares Development Based on ALCO Meeting Decision
12. 12.12.2020 Economic Briefing of Assets & Liabilities
Performance of BRI Shares Development Based on ALCO Meeting Decision

Decision Making

The ALCO Meeting shall take the decision by deliberation and consensus. In the event of full disagreement, the ALCO Meeting’s decision is considered valid with the approval of 50% (fifty percent) of the ALCO Members who have voting rights and 1 (one) other ALCO Member, including member of the Board of Directors whose one of them is ALCO Chairman or Substitute Chairman.

The Risk Management Committee (RMC) is responsible to develop the Risk Management Policy and its amendments including the implementation of risk management policy and strategy.

Committee Membership

1. Risk Management Committee (RMC)

Membership Structures Position Voting Rights Structures
Director of Risk Management Chairman
Director of Finance Substitute Chairman/ Permanent Member
Director of Human Capital Permanent Member
All Directors or SEVP of Proposing Sectoral Non Permanent Member
Director of Compliance Permanent Member -
Division Head of Enterprise Risk Management & Portfolio Secretary -
Head of Relevant Units Non Permanent Member -

2. Integrated Risk Management

Membership Structures Position Voting Rights Structures
Director of Risk Management Chairman
Director of Finance Substitute Chairman/ Permanent Member
Director of Risk Management Permanent Member
Director of Human Capital Permanent Member
All Directors or SEVP of Proposing Sectoral Non Permanent Member
Director of Compliance Permanent Member
President Director of BRI Syariah Permanent Member
President Director of BRI Agro Permanent Member
President Director of BRI Life Permanent Member
President Director of BRI Finance Permanent Member
President Director of BRI Ventura Permanent Member
President Director of Danareksa Sekuritas Permanent Member
Director of Compliance BRI Syariah Permanent Member
Director of Compliance BRI Agro Permanent Member
Director of Compliance BRI Life Permanent Member
Director of Compliance BRI Finance Permanent Member
Director of Compliance BRI Ventura Permanent Member
Director of Compliance Danareksa Sekuritas Permanent Member
EVP Market, Portfolio & Enterprise Risk Management Division Secretary -
Head of Relevant Units Non Permanent Member -

Duties and Responsibilities

The Risk Management Committee has the following duties and responsibilities:

  1. The Risk Management Committee (RMC) has the following duties and responsibilities:
    1. Provide recommendations to the President Director on the formulation of Risk Management Policy and its changes including the risk management policies, risk management strategies and contingency plans if external conditions do not normally occur.
    2. Provide recommendations to the President Director on methodology for risk measurements and its changes.
    3. Provide recommendations on the limits and changes.
    4. Submit the risk profile report and the risk monitoring results and if required the recommendations for any changes.
  2. The Integrated Risk Management Committee (RMC) has the following duties and responsibilities:
    1. Provide recommendations to BRI Board of Directors on the formulation of Integrated Risk Management Policies and its changes.
    2. Provide recommendations on improvements to BRI Board of Directors and Directors of Subsidiaries based on the evaluation of Integrated Risk Management implementation.
    3. Submit the Integrated Risk Profile report, Integrated Governance report, Integrated Audit report, Subsidiary Company’s Individual Risk Profile report and the risk monitoring results to BRI Board of Directors.
    4. Submit the integrated capital analysis and capital participation plans to members of the BRI Financial Conglomerate.
    5. Submit the integrated and/or individual stress testing simulations and contingency plans to anticipate abnormal conditions to BRI Board of Directors.

Committee Charter

The RMC and Integrated RMC has the following organization charter:

  1. The RMC Meeting shall be convened periodically at least once per quarter, the Integrated RMC Meeting shall be convened periodically at least every six months.
  2. In the event of important issues and in urgency, the RMC and Integrated RMC Meetings can be held whenever necessary, among others:
    1. Significant changes in the BRI Risk Profile due to changes in business conditions, macroeconomic factors, violations of internal risk limits or other factors.
    2. Regulatory changes that require fast and immediate responses or actions from the organization.
    3. Force Major conditions occur due to natural factors, human factors, external disturbances and other disruptive factors.
    4. Factors that can cause the Board of Directors to decide to hold the RMC and Integrated RMC Meetings.
  3. The RMC and Integrated RMC discuss, review and approve the proposals and recommendations submitted in the meeting in accordance with applicable regulations. The suggestions and recommendations include risk management policies, strategies and procedures.
  4. The RMC and Integrated RMC meetings are led by the Director of Risk Management. In the event that the Director of Risk Management is unable to attend, the meeting shall be chaired by the Substitute Chairman in the order as stipulated.
  5. The RMC and Integrated RMC meetings can be held if at least 2/3 (two-thirds) of Committee Members are attended and attended by Committee Chairman.
  6. The Board of Directors can annul the results of decisions at RMC and Integrated RMC through the Board of Directors Meeting.
  7. The Secretary of RMC and Integrated RMC is responsible to coordinate the RMC and Integrated RMC Meetings.
  8. The presence of President Director and or Vice President Director to add Permanent Member with voting rights.

Committee Meetings

The RMC has convened 4 Meetings during 2020 with the following details:

No Activities Date Agenda Meetings
1. RMC I 2020 March 18, 2020
  • Update on the corona virus impact
  • Stress Test for credit risk related to the impact and spread of the corona virus
  • Stress Test for corporate debtors related to the impact and spread of the corona virus
  • Bank wide stress tests related to the impact and spread of the corona virus
  • Loan portfolio guidelines related to the impact of the corona virus
  • Follow-up progress of RMC IV 2019 related to credit risk
  • Capital analysis
  • BRI monitoring of trigger recovery plans
  • Highlights of the BRI risk profile for Q4 2019
  • Highlight evaluation of micro business strategy
  • Stress test of market & liquidity risks related to the impact of the corona virus
  • February 2020 credit quality dashboard
  • Recommended RMC I 2020 decision
2. RMC II 2020 June 11, 2020
  • The New Normal Era
  • BRI’s risk profile
  • Bank wide analysis (capitalization, monitoring trigger recovery plans for BRI, stress tests, loan portfolio guidelines)
  • Risk Issue (credit restructuring, discontinue LIBOR, impact of covid for BRI employees)
  • RMC II 2020 recommendations & decisions
3. RMC III 2020 August 13, 2020
  • Recession mitigation
  • The new ERM concept
  • BRI’s risk profile
  • Highlight the latest RAS & TKB provisions
  • Bank wide analysis (capital analysis, loan portfolio guideline, stress test, highlight performance and risk on marketable securities portfolios
4. RMC IV 2020 November 4, 2020
  • BRI’s Risk Profile
  • Market yield management based on forecasts of market yield
  • Market & liquidity stress test
  • Capital analysis
  • Recovery plan
  • Stress Test bank wide
  • Progress of the new ERM concept
  • Maturity assessment project for risk management implementation
5. INTEGRATED RMC May 6, 2020
  • Review & follow up on the integrated risk profile of SM II 2019
  • Integrated risk profile for Q1 2020
  • BRI risk profile for Q1 2020
  • Conglomeration analysis (liquidity, capital, integrated capital stress test, financial performance, Subsidiary benchmark, Subsidiary Captive market, Subsidiary Key Risk)
  • Discussion of the risk profile & risk issue of the Subsidiary
  • Integrated RMC I 2020 recommendations and decisions

Decision Making

The Committee Meeting shall take the decision by deliberation and consensus. In the event of disagreement, the Committee Meeting’s decision is considered valid with the approval of 50% (fifty percent) of the Committee Members who have voting rights and 1 (one) another Committee Member, including the Committee Chairman.

The Credit Committee is an operational committee assisting the Board of Directors to evaluate and/or resolve credit applications for certain amount and/or types of credits as determined by the Board of Directors.

Committee Structures

  1. The Credit Committee at the Board of Directors levels, which are:
    1. Credit Committee of BRI.
    2. Credit Committee of the Board of Directors 1
    3. Credit Committee of the Board of Directors 2
  2. Credit Committee at the Division levels
  3. Credit Committee of Regional Commercial Business (RCB)
  4. Credit Committee at the Regional Offices/Special Branch Offices
  5. Credit Committee of Overseas Units

Responsibilities

  1. Provide credit approval or rejection with due observance on the limits of authority set forth by the Board of Directors.
  2. Coordinate with the Asset & Liabilities Committee (ALCO) in the aspect of funding for loans of certain ceilings as set out by ALCO.
  3. Deliverance of duty in providing credit decision based on professionalism expertise with honesty, objectivity, accurate and prudent.
  4. Shall not accept any request and or influence from concerned parties for the approval of credit under formality or not complying sound credit principles.
  5. To sign the Loan Decision form as a proof of credit decision and as a form of responsibility of the Credit Committee.

Conflict of Interest

In providing credit decision, the Credit Committee shall decide with honest, objective and prudent assessment and free of conflict of interest to the Committee and its individual member. This mechanism is regulated as follows:

  1. In the event that the decision-makers of BRI Credit Committee have the conflict of interest, then the credit decision shall be carried out by all Board of Directors and SEVP with decision making authority, member of BRI Credit Committee that has the conflict of interest are exempted. The decision-making is unanimously conducted from all the Decision Makers.
  2. In the event that the conflict of interest is occurring on Credit Committee members other than BRI Credit Committee, then the credit decision shall be authorized to the decision makers of one level higher.
  3. In the event that the conflict of interest is occurring on individual credit decision makers, then the credit decision shall be authorized to the decision makers of one level higher.
  4. In the event that the conflict of interest is occurring then the credit decision shall be carried out as stated in point 2 and 3 above, which further shall be submitted through Credit Analysis Memorandum.

Committee Charter

  1. Credit Committee Meeting may only be held if the quorum meets at least 50% + 1 of all members of the Credit Committee.
  2. Credit Committee members who are unable to attend the Committee Meeting due to unavailability (but no later than five working days) shall not be taken into account in the quorum of Credit Committee meetings.
  3. The Credit Committee implementation shall be held in the Credit Committee meeting forum with the relevant Credit Administration Units as the Secretary of the Committee.

Committee Meetings

The Credit Committee has convened 43 meetings during 2020.

The Capital and Investment Committee is responsible in particular to the corporate actions and management of subsidiaries.

Committee Structures

In implementing its duties, the Capital & Investment Committee is supported by the Committee Supporting Team.

Membership Structures Position Voting Rights Structures
Director of Finance Chairman
Director of Risk Management Substitute Chairman (and Permanent Member)
EVP Subsidiary Management Division Secretary (and Permanent Member) -
Relevant Directors or SEVPs Non Permanent Member
Directors or SEVPs of Subsidiaries Supervisors Non Permanent Member
Director of Compliance Permanent Member -

Responsibilities

  1. Review the analysis of corporate action proposed by the Committee Supporting Team.
  2. Determine and recommend the corporate actions as stated in the Clause 2 paragraph (1) for the approval of President Director/Vice President Director through the Board of Directors Meetings or circulars.
  3. Review the analysis of business plan, corporate work plan and budget of Subsidiaries, including key performance indicators and Subsidiaries dividend plans.
  4. Review the performance of Subsidiaries and determine the performance improvement measures with the Board of Directors of Subsidiaries.
  5. Evaluate and recommend the Subsidiaries’ corporate actions (Initial Public Offering, rights issue, acquisitions, merger, capital addition and divestment plans) for further approval by the President Director/Vice President Director through the Board of Directors Meetings or circulars.
  6. Decision making in the event of a deadlock of a synergistic initiative of Subsidiaries with BRI which is strategic in nature.

Committee Charter

  1. The Committee Supporting Team prepares the study and analysis in accordance with their respective scope.
  2. The study results shall be presented in the Committee meeting by the Committee members and/or members of Supporting Team and/or representatives of Subsidiaries in accordance with each scope.
  3. The Committee shall convene at least one meeting quarterly to discuss proposals, reviews and analysis from the Committee Supporting Team.
  4. The Meeting is quorum when attended by at least 50% of all Committee members and attended by the Committee Chairman.
  5. The Committee meeting is led by the Chairman. If the Chairman is unable to attend, then the Committee meeting shall be chaired by the alternate Director as stipulated.
  6. The Committee Chairman leads the Capital & Investment Committee Meeting and has the voting rights.
  7. The Committee Secretary is responsible to coordinate the Capital & Investment Committee meeting.
  8. The attendance of the President Director and/or Vice President Director aims to add Permanent Member with voting rights.

Committee Meetings

Committee’s Program and Implementation in 2020 Quorum Meetings
January 16, 2020 Dividend Payout Ratio for financial year 2019 Proposal Quorum
March 11, 2020 Discussion on BMPK, BRIS’ pipeline, BRI Agro and BRIF Quorum
March 23, 2020 Equity investment to PT BAV and PT DIM Quorum
April 22, 2020 Subsidiaries’ 1st quarter 2020 financial performance review Quorum
June 3, 2020 BRI Agro and BRI Finance Work and Budget Plan Revision and bank business plan review Quorum
June 19, 2020 BRI Ventures Work and Budget Plan Revision and bank business plan review Quorum
June 25, 2020 BRI Syariah bank business plan revision review Quorum
July 22, 2020 Subsidiaries’ June financial performance review Quorum
August 12, 2020 Project Cyperus capital committee Quorum
September 2, 2020 Subsidiaries’ transformation discussion (Quantum Project) Quorum
October 7, 2020 Spin off plan of BRIN Syariah, BRIL Syariah and bRISMA and BRINS segmentation Quorum
October 13, 2020 BRI subsidiaries management in terms work and budget plan Quorum
October 21, 2020 BRI subsidiaries management in terms work and budget plan Quorum
October 22, 2020 Subsidiaries’ 3rd quarter 2020 financial performance review Quorum
November 9, 2020
  1. BRI Finance work and budget plan discussion
  2. BRI Agro Quantum Project discussion
Quorum
November 18, 2020
  1. BRI Multifinance Indonesia work and budget plan discussion
  2. BRI Agro Quantum Project discussion
Quorum

Decision Making

The Committee Meeting decision is taken by deliberation and consensus. In the event of disagreement, the Committee Meeting decision is considered valid with the approval of 50% (fifty percent) of the Committee Members who have voting rights and 1 (one) Committee Member including the Committee Chairman.

The Credit Policy Committee is a committee at the Head Office that assists the Board of Directors in formulating and provides recommendations for improvements to BRI credit policies.

Committee Structures

The Credit Policy Committee composition is as follows:

Membership structure Position Structures
President Director Chairman
EVP Micro, SME, Consumer Credit Risk & Policy Secretary (also a member)
Vice President Director Member
Director of Micro Business Member
Director of Small, Retail, & Medium Business Member
Director of Institutional & SOE Relations Member
Director of Consumer Member
Director of Network & Services Member
Director of Risk Management Member
Director of Finance Member
SEVP Corporate Business Member
SEVP Treasury & Global Services Member
EVP Wholesale Credit Risk Analyst Member
EVP Credit Restructuring & Recovery Member
EVP Micro Business Development Member
EVP Micro Sales Management Member
EVP Social Entrepreneurship & Incubation Member
EVP Small & Medium Business Development Member
EVP Small Sales Management Member
EVP Medium Business Member
EVP Consumer Lending Sales & Development Member
EVP Corporate Banking 1 Member
EVP Corporate Banking 2 Member
EVP SOE Business 1 Member
EVP SOE Business 2 Member
EVP Syndication & Financial Services Member
EVP Treasury Business Member
EVP International Business Member
EVP Investment Services Member
EVP Credit Operation Member
EVP Corporate Development & Strategy Member
EVP Policy& Procedure Member

Responsibilities

  1. Providing input to the Board of Directors in preparing the Bank Credit Policy, in particular the formulation of prudent principles in credit as stipulated in the Bank Credit Policy Formulation Guidelines of Bank Indonesia.
  2. Overseeing consequent and consistent implementation of the Bank Credit Policy as well as formulate the alternative and application solutions in the event of obstacles.
  3. Conduct periodical review on the Bank Credit Policy.
  4. Evaluating the following:
    1. Validity of authority to decide on credit or financing.
    2. Validity of credit or financing disbursement process, development and quality to the Bank’s Related Parties and Large exposure.
    3. Proper implementation of Legal Lending Limits.
    4. Compliance with the laws and other regulations in credit disbursement or lending
    5. Settlement of non performing loans in accordance with the Bank Credit Policy.
    6. Adequacy of the allowance for possible losses due to credit impairment losses and write-off reserves.
    7. Certain major debtors and credit in credit lists In Special Attention.
  5. Review the effectiveness of credit internal control system.
  6. Submit a written report periodically and provide input to the Board of Directors with a copy to the Commissioners on:
    1. The supervision results of implementation and application of the Bank Credit Policy.
    2. Supervision result of anything related to Article 3 paragraph 1 d.
  7. Monitor and evaluate the development and quality of the credit or financing portfolio as a whole.

Committee Charter

  1. Changes or revision to the Bank Credit Policy must be first discussed in the meeting. The Credit Policy Committee shall conduct a final discussion meeting on the draft amendment or revision of the Bank Credit Policy prior to proceeding to obtain the decision of the Board of Directors.
  2. The Credit Policy Committee Meeting is held to propose the preparation, amendment, and revision of the Bank credit policy and related to important and urgent issues that require a fast and immediate response from the Company.
  3. In the event of urgent problem to be discussed in the Credit Policy Committee, the relevant work unit may propose to the Secretary of the Credit Policy Committee to hold a Credit Policy Committee Meeting.
  4. The Credit Policy Committee Meeting is led by President Director as the Committee Chairman. In the event that the Chairman is absent, the meeting is chaired by the Substitute Chairman according to the stipulations.
  5. The Credit Policy Committee meeting is valid if attended by at least 2/3 of the Committee members consisting of at least 3 (three) Directors.
  6. If the EVP who is a member of the Credit Policy Committee is unable to attend, the Substitute may be appointed.
  7. Any changes to the contents of BRI’s Bank Credit Policy which are not material in nature, it shall be carried out in a circular manner to all the Directors and subsequently presented in writing to all members of the Credit Policy Committee.

Committee Meetings

The Committee meetings was held 1 (one) time in 2020, on 16 November 2020 online with the PDWK Policy Change agenda and attended by more than 2/3 of the Committee members (quorum).

Decision Making

The decisions of the Committee Meetings are made by deliberation and consensus. In the event that no agreement is reached, the decision of the Committee Meeting is considered valid if it is approved by 50% (fifty percent) of the total Committee Members present plus 1 (one) Committee Member including the President Director, Director of Business Affairs related to EVP, Credit Operation.

Information Technology Steering Committee

The Information Technology Steering Committee is the Committee at the Head Office responsible to provide direction and recommendations to the Board of Directors on planning, governance, development and operations of Information Technology.

Information Technology Steering Committee Structure

Membership Structures Position Voting Rights Structures
Director of Digital, Information Technology & Operations Chairman
Director of Human Capital Substitute Chairman (and Permanent Member)
Division Deputy Head of IT Strategy & Governance Secretary (and Permanent Member) -
Director of Network & Services Permanent Member
Director of Risk Management Permanent Member
SEVP Fixed Assets Management and Procurement Permanent Member
EVP, IT Strategy & Governance Permanent Member
EVP, Application Management & Operation Permanent Member
EVP, IT Infrastructure & Operation Permanent Member
EVP, Digital Banking Development Permanent Member
EVP, Enterprise Data Management Permanent Member
EVP, Distribution Network Permanent Member
EVP, Information Security Permanent Member
Director of Finance Non permanent member
Proposer Director or SEVP Non permanent member
Director of Compliance Permanent Member -

Responsibilities

The Information Technology Steering Committee has the following responsibilities:

  1. Provide recommendations of IT long term strategy plan that in line with the Bank Corporate Plan and Business Plan as stated in the IT Strategic Plan of BRI.
  2. Formulate core IT policies, standards, and procedures.
  3. Ensuring the alignment of the IT strategy plan with other IT projects as approved for implementation.
  4. Monitoring and evaluation of IT project development so as to be in line with the set forth Project Charter.
  5. Evaluating the IT conformity with the management information system required for Bank operations and business.
  6. Monitor the effectiveness of risk management in IT investments so as to optimally contribute to the business goals achievement of BRI.
  7. Monitor the performance of IT systems and provide recommendations for improvement efforts.
  8. Provide recommendations on IT problems that cannot be solved by the Work Units and IT providers in an effective, efficient and timely manner.
  9. Provide recommendations on the adequacy of IT resource allocation.

Committee Charter

  1. The Information Technology Steering Committee shall convene the meeting at least twice a year.
  2. The Information Technology Steering Committee Meeting shall be at least attended by:
    1. Chairman
    2. Secretary
  3. 2/3 (two thirds) of the Committee Members that are invited and related to the Committee meeting agenda.
  4. In the event that the Committee Chairman is absent, then the Information Technology Steering Committee Meeting is chaired by the Substitute Chairman of the Committee.
  5. The Committee Chairman leads the Information Technology Steering Committee Meeting and has voting rights.
  6. The coordination of the Information Technology Steering Committee Meeting is the responsibility of the Committee Secretary with duties and responsibilities among others:
    1. Prepare and invite the meetings.
    2. Arrange and present the meetings.
    3. Arrange and distribute Minutes of Meeting to Members of the Information Technology Steering Committee.
    4. Monitor the decisions of the Steering Committee that are followed up by the relevant Work Units.
  7. Attendance of the President Director and/or Vice President Director is adding Permanent Members with voting rights.

Committee Meetings

The Information Technology Steering Committee has convened 8 (eight) meetings during 2020 with the following details:

No Date Agenda Application Quorum Meetings
1. February 25, 2020 Reporting on the readiness of host Brinets AS/400 switch over and switch back Host Brinets AS/400 Quorum
2. March 9, 2020 Reporting on the readiness of host Brinets AS/400 switch over and switch back Discussion on the decision mechanism for the use of the stand-in PSW during the implementation of the AS/400 SO Host Brinets AS/400 Quorum
3. March 17, 2020 Reports on the readiness of host Brinets AS/400 switch over and switch back Reports on risk review and mitigation Discussion of the decision on the recommended schedule for the activity of the switch over host brinets AS/400 related to the prevention of the Covid-19 Host Brinets AS/400 Quorum
4. April 2, 2020 Deployment approval on the development of critical severity-1 application, as: Brinets Express Proswitching Host Brinets AS/400 Brinets Express Proswitching Host Brinets AS/400 Quorum
5. June 17, 2020 Reporting on Brinets Tactical Enhancement (BTE) release 1 and release 2 deployment project readiness Discussion on the decision on the Brinets Tactical Enhancement (BTE) release 1 and release 2 deployment project Host Brinets AS/399 Quorum
6. July 8, 2020 Reporting on the readiness of host Brinets AS/400 switch over and switch back Reporting on risk review and mitigation Host Brinets AS/400 Quorum
7. September 17, 2020 Reporting of Brinets Tactical Enhancement (BTE) release 2.5 deployment project readiness Risk review and mitigation reporting Discussion on Brinets Tactical Enhancement (BTE) release 2.5 deployment project decision Host Brinets AS/401 Quorum
8. December 8, 2020 BRImo V2 rollout readiness report (release of whitelist user) Discussion on the decision of the BRImo V2 rollout activity (release of whitelist users) BRImo V2 Quorum

Decision Making

The decisions of Committee meetings are taken by deliberation and consensus. In the event that no agreement is reached, then the decision of the Committee meeting is considered valid if it is approved by 50% (fifty percent) of the number of Committee Members who have voting rights and 1 (one) member of the Committee including the Committee Chairman.

Data Governance Committee

The Data Governance Committee is a forum that provides direction regarding data governance, and provides decisions related to leading issues on data that cannot be resolved at the Data Owners and Data Stewards level as well as at the Data Management Office level.

Membership Structures Position Voting Rights Structures
Director of Digital, Information Technology & Operations Chairman
Director of Human Capital Substitute Chairman (also a Permanent Member)
VP Enterprise Data Management Secretary (also a Permanent Member) -
Director of Network and services Permanent Member
Director of Financial Permanent Member
Director of Consumer Permanent Member
EVP Enterprise Data Management Permanent Member
Relate Director/ SEVP Non Permanent Member
Compliance Director Permanent Member -

Responsibilities

The Data Governance Committee has the following responsibilities:

  1. Ensuring the fulfillment of the data needs of all BRI stakeholders.
  2. Ensuring data protection as a strategic asset of the Company.
  3. Directing the implementation of data policies & standards to enforce a framework for good data governance processes, and data quality in an enterprise.
  4. Ensuring the protection of the privacy and confidentiality of customer and company data.
  5. Ensuring that there is no illegal data access, data manipulation and inappropriate use of data and information.
  6. Ensuring data can be used effectively and bring value to the Company.
  7. Directing and deciding the solution of the escalated problems to the Committee.

Committee Charter

  1. The Data Governance Committee holds regular meetings at least 2 (two) times a year.
  2. The Data Governance Committee meeting shall at least be attended by:
    1. Committee Chairman
    2. Committee Secretary
  3. 2/3 (two thirds) of the invited Committee Members and related to the agenda for the Committee meeting discussion.
  4. In the event that the Committee Chairman is absent, the Data Governance Committee meeting is chaired by the Substitute Chairman of the Committee.
  5. The Chairman of the Committee leads the Data Governance Committee meetings and has voting rights.
  6. The responsibility of coordinating the implementation of the Data Governance Committee meeting is under the Committee Secretary with duties and responsibilities include:
    1. Meeting preparation and invitation.
    2. Compiling and presenting meeting materials.
    3. Compiling and distributing Minutes of Meeting to Members of the Data Governance Committee
    4. Monitoring the decisions of the Data Governance Committee which are followed up at the relevant Work Units.
  7. Attendance of the President Director and/or Vice President Director is adding Permanent Members with voting rights.

Committee Meetings

During 2020 the Data Governance Committee has not held any Committee Meeting.

Decision Making

The decisions of Committee meetings are made by deliberation and consensus. In the event that no agreement is reached, the decision of the Committee meeting is considered valid if it is approved by 50% (fifty percent) of the total Committee Members who have voting rights plus 1 (one) Committee Member including the Committee Chair.

The Goods and Services Procurement Committee is a Committee at the Head Office with the duties and authority to conduct evaluation and provide decision on procurement request and results with certain values.

Committee Structures

Procurement Committee 1

Membership Structures Position Voting Rights Structures
Vice President Director Chairman
Director of Network & Services Substitute Chairman (and Permanent Member)
EVP Procurement & Logistic Operation Secretary
All BRI Directors excluding Director of Compliance Permanent Member
Director of Compliance Permanent Member -
Related SEVP Non Permanent Member

Procurement Committee 2

Membership Structures Position Voting Rights Structures
Vice President Director Chairman
Director of Network & Services Substitute Chairman (and Permanent Member)
EVP Procurement & Logistic Operation Secretary
Director of Finance Permanent Member
Director of Risk Management Permanent Member -
Micro Business Director/Director of Small, Retail & Medium Business/Network and Services Director/Director of Digital, Information Technology & Operations Non Permanent Member
Related Director/SEVP Permanent Member

Procurement Committee 3

Membership Structures Position Voting Rights Structures
Director of Risk Management Permanent Member
SEVP AT Management and Procurement Permanent Member
Related Director/SEVP Non Permanent Member
Director of Finance/Director of Micro Business/Director of Small, Retail, Medium Business/Network and Services Director, Digital Director, Information Technology & Operations Non Permanent Member

Procurement Committee 4

Membership Structures Position Voting Rights Structures
SEVP AT Management and Procurement Permanent Member
Related Director & SEVP Non Permanent Member

Responsibilities

  1. Implementing procurement decisions in a professional, honest, responsible, objective, accountable and thorough manner.
  2. Avoiding conflicts of interest in granting procurement approvals.
  3. Evaluating, providing input on the proposed procurement.
  4. Providing a decision to approve or reject the procurement in accordance with the limits of its authority if it is held at a Committee meeting.
  5. Providing procurement decisions, through:
    1. Minutes of the Board of Directors Meeting, or
    2. Minutes of Procurement Committee Meeting, or
    3. Circular official memo.

Committee Charter

  1. The decisions of the Procurement Committee are taken in a Procurement Committee meeting. The Procurement Committee meetings are held at the Head Office or other places with the relevant Procurement Unit facilitators.
  2. The decision of the Procurement Committee is taken unanimously and is considered approved if all Committee Members with voting rights present or representing them agree.
  3. In the event that the Procurement Committee Member is absent, the duties and authorities of the Procurement Committee Member are replaced by the Director or Substitute SEVP in accordance with the Decree of the Substitute Director. The Director or Substitute SEVP can act in the Committee as two capacities, namely as a Substitute Executive and in his capacity as a Member of the Goods and Services Procurement Committee.
  4. In the event that the Procurement Committee meeting cannot be held, the Procurement Committee can make decisions through a Circular Service Memorandum with the approval of the Committee Chairman and other Committee Members.
  5. In the event that the procurement of goods and services has been decided by the Board of Directors through a meeting of the Board of Directors, then the decision referred to is equated with the decision of the Committee for the Procurement of Goods and Services as evidenced by the Minutes of the Meeting of the Board of Directors.
  6. The duties and responsibilities of the facilitator for Committee meetings are carried out by the Procurement Committee Secretary, among others:
  7. Coordinating the preparation of Committee meeting materials.
    1. Prepare the meeting agenda, schedule and meeting place.
    2. Carrying out the correspondence function, reproducing documents, and the Committee’s document archiving function.
    3. Making Minutes of Meetings and Minutes of Goods and Services Procurement Committee.
    4. Distribute Committee decisions to be followed up by related Work Units.

Committee Meetings

No. Procurement Committee Procurement Value Total Procurement Meetings
1. Procurement Committee I 1,991,616,146,001 3
2. Procurement Committee II 238,677,110,000 3
3. Procurement Committee III 1,681,104,435,915 27
4. Procurement Committee IV 1,059,357,771,268 76
Total 4,970,755,463,184 109

Position: 13 November 2020

Human Capital Committee is a Committee at the Head Office that has the authority to determine strategic and operational policies in the field of Human Capital.

Human Capital Committee On Human Capital Policy

Committee Structures

Membership Structures Position Voting Rights Structures
President Director Chairman
Vice President Director Substitute chairman (and Permanent Member)
Human Capital EVP in the field of policy Secretary (and permanent member)
Directore of Human Capital Permanent Member
Related Director or SEVP Non Permanent member

Responsibilities

  1. Set priorities for the development strategy, policy direction and improvement of the quality of BRI’s human capital by referring to the Bank’s Business Plan (RBB) and BRI’s Corporate Plan.
  2. Establish strategic policies in the field of human capital.

Committee Meeting

No Date Agenda Quorum Meetings
1. April 23, 2020 Review on Employee Discipline Quorum
2. June 24, 2020 Review on Employee Discipline Quorum
3. August 31, 2020 Review on BRI Career Journey Policy Quorum

Human Capital Committee On Human Capital Planning

Committee Structures

Membership Structures Position Voting Rights Structures
President Director Chairman
Vice President Director Substitute chairman (and Permanent Member)
Executive Vice President Human Capital Business Partner Secretary (and Permanent Member)
Director of Human Capital Permanent Member
Director of Finance Permanent Member
Director of Network and Service Permanent Member
EVP Network Division Permanent Member

Responsibilities

Determine the planning for the number of Position Formations and strategies for fulfilling the Position Formations.

Committee Meeting

No Date Agenda Quorum Meetings
1. July 21, 2020 BRI Strategic Workforce Planning Project Kick-off Quorum

Human Capital Committee On Talent And Ethics Affairs

Committee Structure

Talent Area 1 (for Executive Vice President level officials)

Membership Structures Position Voting Rights Structures
President Director Chairman
Vice President Director Substitute Chairman (and Permanent Member)
Executive Vice President Human Capital Business Partner Secretary (and Permanent Member)
All Directors and SEVP Permanent Member

Talent Area 2 (for Vice Presidents and Class 1 Branch Managers)

Membership Structures Position Voting Rights Structures
President Director Chairman
Director of Human Capital Substitute Chairman (and Permanent Member)
Executive Vice President Human Capital Business Partner Secretary (and Permanent Member)
All Directors and SEVP Permanent Member

Talent Area 3 (for Assistant Vice Presidents and Senior Managers outside Class 1 Branch Managers)

Membership Structures Position Voting Rights Structures
Director Human Capital Chairman
Executive Vice President Human Capital Business Partner Secretary (and Permanent Member)
Director or SEVP according to related Field/Mentor, adjusting to the Committee agenda Permanent Member

Ethics

Membership Structures Position Voting Rights Structures
President Director Chairman
Vice President Director Substitute Chairman
Executive Vice President Human Capital in charge of industrial relations Secretary (and Permanent Member)
Director of Human Capital Permanent Member
Director of Compliance Permanent Member
Director/SEVP according to related Field/Mentor Permanent Member -

Committee Meeting

Talent 1

No Date Agenda Quorum Meetings
1. September 29, 2020 Level BOD 1 Employee Mutation Quorum
2. August 10, 2020 Level BOD 1 Employee Mutation Quorum
3. August 3, 2020 Level BOD 1 Employee Mutation Quorum
4. July 24, 2020 Level BOD 1 Employee Mutation Quorum
5. June 23, 2020 Level BOD 1 Brilian Society Member Stipulation Quorum

Talent 2

No Date Agenda Quorum Meetings
1. October 30, 2020 Level BOD 2 Employee Mutation Quorum
2. October 20, 2020 Level BOD 2 Employee Mutation Quorum
3. October 19, 2020 Level BOD 2 Brilian Society Member Appointment Quorum
4. September 24, 2020 Level BOD 2 Employee Mutation Quorum
5. September 15, 2020 Level BOD 2 Employee Mutation Quorum
6. September 7, 2020 Level BOD 2 Employee Mutation Quorum

Talent 3

No Date Agenda Quorum Meetings
1. November 2, 2020 Level BOD 3 Employee Mutation Quorum
2. October 14, 2020 Level BOD 3 Employee Mutation Quorum
3. September 17, 2020 Level BOD 3 Employee Mutation Quorum
4. August 14, 2020 Level BOD 3 Employee Mutation Quorum
5. August 6, 2020 Level BOD 3 Employee Mutation Quorum

Ethics

No Date Agenda Quorum Meetings
1. September 15, 2020 Employee Discipline Violation Quorum
2. May 28, 2020 Employee Discipline Violation Quorum
3. May 28, 2020 Employee Discipline Violation Quorum

Human Capital Committee For Performance Management And SKO Determination

Committee Structure

Performance Management

Membership Structures Position Voting Rights Structures
President Director Chairman
Vice President Director Substitute Chairman
Human Capital EVP in performance Secretary (and Permanent Member) -
Director of human capital Permanent Member
Director of Finance Permanent Member
Director or SEVP according to related Field/Mentor Permanent Member

SKO Determination

Membership Structures Position Voting Rights Structures
Director of Human Capital Chairman
Director of Finance Permanent Member
EVP Human Capital in charge of Performance Management EVP Human Capital Secretary (and Permanent Member) -
EVP Corporate Development & Strategy Division Permanent Member

Responsibilities

  1. Determine employee performance appraisals for the Executive Vice President and Vice President levels
  2. Establish SKO Standards for the Executive Vice President and Vice President levels for Committee Meetings

Committee Meeting

Performance management

No Date Agenda Quorum Meetings
1. February 5, 2020 Determination of Performance Predicate that takes into account the Challenges Quorum
2. February 13, 2020 The determination of the EVP and VP Performance predicates that takes into account the Leader Orientation Quorum

SKO Determination

No Date Agenda Quorum Meetings
1. April 21, 2020 Determination of SKO EVP and VP Phase 1 Quorum
2. April 30, 2020 Determination of SKO EVP and VP Phase 2 Quorum
3. May 15, 2020 Determination of SKO EVP and VP Phase 3 Quorum
4. June 16, 2020 Determination of SKO EVP and VP Phase 4 Quorum
5. July 10, 2020 Determination of SKO EVP and VP Phase 5 Quorum

Human Capital Job Evaluation Committee

Committee Structure

Membership Structures Position Voting Rights Structures
Director of Human Capital Chairman
Director of Finance Substitute Chairman (and Permanent Member)
VP/AVP Human Capital Planning & Organization Development, Human Capital Strategy & Policy Secretary (and Permanent Member) -
Director of risk management Permanent Member
EVP, Human Capital Strategy & Policy Permanent Member
EVP, Corporate Development & Strategy Membership status of the Job Evaluation Committee is ex-officio. Permanent Member

Responsibilities

  1. Reviewing Position Group
  2. Recommend the Position Group
  3. Determining the Position Group

Committee Meeting

No Date Agenda Quorum Meetings
1. January 20, 2020 Determination of Job Grade Circular quorum (Director of Finance, Director of Human Capital, Director of Risk Management)
2. January 15, 2020 Determination of Job Grade Circular Quorum (Director of Finance, Director of Human Capital, Director of Risk Management, Corporate Development & Strategy Head Division, Human Capital Strategy & Policy Division Head)
3. February 10, 2020 Determination of Job Grade Circular Quorum (Director of Finance, Director of Human Capital, Director of Risk Management, Corporate Development & Strategy Head Division, Human Capital Strategy & Policy Division Head)

The Product Committee is a committee in head office and has the responsibility to provide decision on the proposed development of new products and services, the development and decision on existing products and services, decision on bundling products and services on the authority of the Director or SEVP of Product Owners, and providing recommendations to the Board of Directors on product and services development strategies.

Committee Structures

Membership Structures Position Voting Rights Structures
President Director Chairman
Vice President Director Substitue Chairman 1 (and Permanent Member)
Director of Finance Substitue Chairman 2 (and Permanent Member)
EVP Corporate Development & Strategy Secretary (and Permanent Member) -
Director of Digital Information Technology & Operations Permanent Member
Director of Network and Services Permanent Member
Director of Risk Management Permanent Member
Director/SEVP/Product Owner Directorate Non Permanent Member
Director of Compliance Permanent Member -

Responsibilities

  1. Providing decisions on proposals for new product/service development or product/service development that are already performing, on the authority of the Director/SEVP of Product Owners.
  2. Providing a decision on the termination of products/services that are already performing, on the authority of the Director/SEVP of Product Owners.
  3. Providing decisions on bundling products and/or services, above the authority of the Director/SEVP of the Product Owners.
  4. Providing input and recommendations to the Board of Directors on product and/or service development strategies.

Committee Charter

  1. Product committee meetings are held periodically at least 1 (one) time every 6 (six) months.
  2. Meetings other than regular meetings may be held with the following criteria:
    1. There has been a significant change in business conditions
    2. There was an organizational change that required the Company response
    3. Other factors.
  3. Product committee meetings are chaired by the President Director as Chairman of the Committee. If the President Director is unable to attend, the position of Chairman of the Committee may be replaced by Substitute Chairman 1.
  4. In the event that the Chairman of the Committee and the Committee Substitute Chairman 1 are unable to attend, the product committee meeting is chaired by the Committee Substitute Chairman 2.
  5. The presence of members with voting rights in the product committee meeting cannot be represented, if members with voting rights are unable to attend, they can be replaced by the Director or Substitute SEVP in accordance with the provisions.
  6. Product committee meetings can be held if attended by the Chairman of the Committee and attended by at least 3 (three) members with voting rights, one of which is the Director.
  7. If the President Director/Vice President Director does not attend the committee meeting, the recommendation of the committee meeting will be reported by the Committee Substitute Chairman to the Board of Directors meeting to obtain a decision from the Board of Directors.
  8. Coordination of organizing product committee meetings is the responsibility of the committee secretary.

Committee Meetings

No Date Agenda Quorum Meetings
1. Wednesday, 4 March 2020 Management of Corporate Funds at Operating Units and Service
Transfer Prices
Management of the Trade Finance Function
Management of the Foreign Exchange Function
Giro Management
Quorum
2. Wednesday, 8 April 2020 Update on PAB Quarter I of 2020
Product Ownership Review
Exposure to the Strawberry Platform - BRI Electronic Transaction
Solutions
Quorum
3. Thursday, July 30 2020 Briguna Business Strategy Updates
Proposed Briguna Special Interest Rate Quota until December 2020
Proposed Product and/or Activity Ownership Recommendations 2020
Proposed Review of Britama Interest Rates
Quorum
4. Thursday, 10 September 2020 Review of KMK Tangguh and SME Credit
Proposed Change in KKB Management
Quorum

Decision making

The Committee meetings’ decisions are made by deliberation and consensus. In the event that there is no agreement, the decision of the committee meeting is deemed valid with the agreement of 50% of the number of committee members who have voting rights plus 1 committee member including the Committee Chair.

ESG Committee is the Committee responsible for the preparation, implementation, monitoring and evaluation of ESG strategies, policies, programs, and initiatives.

Membership Structures Position Voting Rights Structures
President Director Chairman
Vice President Director Substitute Chairman (and Permanent Member)
Head of Environmental, Social & Governance (ESG) Desk Secretary (and Permanent Member)
Risk Management Director Permanent Member
Finance Director Permanent Member
SEVP Change Management & Transformation Office Permanent Member
Compliance Director Permanent Member -
Related Director and SEVP Non Permanent Member

Responsibilities:

  1. Conduct reviews and evaluations related to the implementation of policies or governance parameters for ESG initiatives and Social and Environmental Responsibility Program (TJSL) initiatives that have been prepared by the relevant Work Units which proposed by the Supporting Team.
  2. Determine and provide recommendations of programs (both existing and new) to be categorized as ESG initiatives and Social and Environmental Responsibility Program (TJSL) initiatives in accordance with existing parameters to the ESG Committee and circular approvals.
  3. Conduct reviews and evaluations related to the implementation of programs that are included in the parameters of the ESG initiative and Social and Environmental Responsibility Program (TJSL) initiatives as well as reporting data and information related to ESG.
  4. Review reports on ESG Rating, Investor concerns or other third parties on the performance and implementation of BRI's ESG and Social and Environmental Responsibility Program (TJSL).
  5. Recommend material issues obtained from the results of ESG Rating report review, Investor concerns or other Third Parties regarding the performance and implementation of BRI's ESG and Social and Environmental Responsibility Program (TJSL)
  6. Determine the follow-up plan on the results of the review and evaluation which can be proposed into a new program which will then be followed up by the relevant Work Unit.
  7. Provide the latest information to the Board of Directors and the Board of Commissioners regarding all issues related to ESG and Social and Environmental Responsibility Program (TJSL), including laws and regulations, global initiatives, business practices, as well as other important information related to ESG and Social and Environmental Responsibility Program