Framework, which effectively
ensures the consistent application
of the Bank’s risk management
governance.
Credit & Risk Management (CRM) memiliki tujuan utama untuk mengelola eksposur terhadap risiko pasar, kredit, operasional dan likuiditas dengan mengalokasikan dana yang lebih efisien.
Upaya-upaya yang ditempuh untuk mencapai tujuan ini didukung oleh serangkaian proses manajemen risiko (yaitu kewaspadaan, identifikasi, pengukuran, pengawasan dan pengendalian); melalui infrastruktur manajemen risiko (organisasi, tata kelola, data, metodologi, kebijakan dan prosedur serta pelaporan) dan lingkup didukung Bank antara lain: budaya, komunikasi, pelatihan, pengukuran kinerja dan penghargaan. CRM bertanggung jawab untuk melakukan koordinasi dan sosialisasi seluruh proses manajemen risiko. Peran CRM adalah untuk memastikan kelangsungan bisnis Bank dengan mengukur, menetapkan batasan dan melakukan pengawasan terhadap berbagai jenis risiko sehingga Bank dapat mencapai tujuan-tujuannya dalam batas yang masih wajar.
Permasalahan sub-prime mortgage di pasar modal Amerika Serikat yang mengemuka pada bulan Juni 2008 memberikan tantangan tersendiri bagi CRM dalam waktu terakhir ini. Meskipun dampak dari krisis tersebut baru terasa di kawasan ASEAN, dampak mulai bermunculan sektor perbankan di kawasan ini dengan ketidakpastian yang mencemaskan. Beruntung bagi Bank CIMB Niaga, melalui penerapan Enterprise Risk Management Framework yang secara berkala menerapkan check and balance dengan efektif untuk dapat mengatasi beragam kendala akibat mulai menyusutnya likuiditas di pasar global. Meskipun demikian, Bank mengambil langkah pro aktif dengan mengidentifikasi potensi permasalahan yang dapat muncul dari portofolio kreditnya. Termasuk diantaranya adalah melakukan stress test dengan beragam skenario untuk setiap sektor industri untuk mengukur potensi dampak terhadap aktiva kredit yang dikelola. Kebijakan perkreditan Bank kemudian disesuaikan dengan potensi risiko yang mulai meningkat. Secara bersamaan, hasil stress test yang dilakukan menjadi bahan pertimbangan kebutuhan cadangan yang perlu dialokasikan di tahun 2009. Beruntung, skenario terburuk tidak terjadi. Ketangguhan perekonomian Indonesia dengan tingkat ketergantungan terhadap pasar ekspor dan pasar konsumsi domestik yang besar secara efektif telah melindungi industri keuangan domestik dari dampak
Credit & Risk Management (CRM) maintains the goal of managing exposure to market, credit, operational and liquidity risks by efficiently allocating capital. Efforts to reach this goal are supported by the Bank’s risk management processes (awareness, identification, measurement, monitoring and control);
risk management Infrastructure (organization, governance, data, methodologies, policies and procedures and reporting) and the supporting environment provided by the Bank (culture, communications, training, performance measurement and reward).
CRM is responsible for coordinating and socializing Bank’s risk management processes. The role of CRM is to ensure that the Bank’s business can continue to function by measuring, setting limits for and monitoring all relevant risks in such a manner that the Bank may continue to achieve its goals within the limits of acceptable risk.
Since the first emergence of the sub-prime market failure in the US market in June 2008. CRM has faced some tough challenge one for CRM. Although some time passed before the crisis would be felt throughout the ASEAN region, the Banking sector throughout the region was facing its grave uncertainties. Fortunately Bank CIMB Niaga, through the regular operations of the Enterprise Risk Management Framework had an effective regime of checks and balances to cope with the constraints which arose due to the global liquidity crisis. Nevertheless, the Bank took proactive measures to identify the increased potential of default for its existing credit portfolio. This included rigorous stress testing by industry sector to determine the level of impact which the crisis could potentially have on the Bank’s loan assets. Information gathered from stress testing lead to overall Bank-wide efforts to reduce exposure. Bank credit policies were therefore appropriately tightened in response to the increased levels of risk. Concurrently, observations from the stress testing exercise directly led into the process by which the Bank would determine the required provisioning levels required for 2009.
Fortunately the worst case scenarios did not eventually materialize.
The resilience of the Indonesian economy - with its relatively low reliance on export markets and vast consumer market - effectively shielded the domestic financial industry from the deep impacts
which were felt by other economies throughout the region. Bank CIMB Niaga’s NPL ratios for 2009 would remain below industry levels for the year. As of December 2009, the NPL ratio was maintained at 3.06%.
Besides economic volatility in the external environment, CRM also had to contend with increasing internal risks in 2009 as the Bank pushed forward with its plans to merge the operations of Bank CIMB Niaga with ex-LippoBank onto a Single Platform. This process would witness the full integration of 655 branches, 1,261 ATMs and the functions of approximately 11,000 employees into a single operating entity. The conversion to a single platform on May 15th 2009 (SPD1) represented a significant operational risk for the continuity of the Bank’s operations.
CRM played an important role in monitoring the merger process both within the merger’s Business Command Center in Bintaro, South Jakarta, as well as at the branch level nationwide. Throughout the merger process and during the transition post-merger period, CRM maintained a dozen Bank Quality Assurance (BQA) teams which were stationed at locations all across Indonesia. These teams, which comprised over 170 individuals from the CRM division, were responsible for monitoring post-merger performance of the Bank. Open lines of communication were maintained between BQA teams as well as to the senior management of the CRM business unit. Reports were made as to any significant problems which encountered as a result of the cut-over. As the potential for a systemic failure, remained a possibility within the context of the transition to a single platform, the year 2009 will forever be remembered by Bank CIMB Niaga as one of effective governance in a time of rapid transition. Fortunately for the Bank and all its stakeholders, the merger of operations proceeded with precision and accuracy and all adverse conditions and outcomes were effectively mitigated and avoided.
GOVERNANCE IN RISK MANAGEMENT
Bank CIMB Niaga implements an Enterprise Wide Risk Management Framework. This framework effectively ensures the consistent application of the Bank’s risk management governance. It places limits on the risk exposures which occur throughout regular banking operations across all business functions.
Enterprise Wide Risk Management establishes the standard for policies and procedures required to maintain consistency throughout the Bank and effects socialization of these policies and procedures to each and every Bank employee. Enterprise Wide Risk Management governs the manner in which the Bank uses capital and measures risk. These methods are divided among the various negatif yang dialami oleh perekonomian di negara-negara tetangga.
Rasio NPL Bank CIMB Niaga tetap berada di bawah rata-rata industri untuk tahun yang sama. Pada bulan Desember 2009, NPL ratio dipertahankan berada pada posisi 3,06%.
Selain gejolak ekonomi di lingkungan eksternal, CRM juga harus memperhatikan peningkatan risiko internal sepanjang tahun 2009 disaat Bank melanjutkan proses penggabungan operasional LippoBank ke dalam struktur Single Platform Bank CIMB Niaga.
Proses tersebut mengintegrasikan 655 kantor cabang, 1.261 mesin ATM dan fungsi kerja dari sekitar 11.000 karyawan ke dalam satu entitas operasional. Proses konversi menuju single platform yang berlangsung pada tanggal 15 Mei 2009 (SPD1) menimbulkan potensi risiko operasional yang signifikan bagi keberlangsungan aktivitas Bank.
CRM memiliki peran penting dalam memantau proses merger baik di Business Command Center yang berlokasi di Bintaro, Jakarta Selatan maupun yang berlangsung di seluruh kantor- kantor cabang. Sepanjang proses penggabungan berlangsung dan semasa transisi pasca penggabungan, CRM menempatkan sejumlah tim Bank Quality Assurance (BQA) yang berlokasi di seluruh Indonesia. Tim ini beranggotakan 170 orang yang berasal dari Divisi CRM, yang bertanggung jawab terhadap pemantauan kinerja pasca penggabungan Bank. Komunikasi terbuka dijalin diantara tim BQA dan juga dengan senior manajemen dari unit bisnis CRM. Laporan disusun terhadap masalah yang signifikan yang terjadi saat mencapai cut-over, Dengan potensi kegagalan sistemik yang masih mungkin muncul akibat transisi menuju Single Platform, tahun 2009 akan selamanya diingat oleh Bank CIMB Niaga sebagai periode dengan tata kelola yang efektif selama transisi yang berlangsung dengan cepat. Beruntung bagi Bank dan seluruh stakeholders, penggabungan kegiatan operasional dua bank berlangsung dengan presisi dan akurat dengan seluruh potensi permasalahan dapat diatasi dan dihindari secara efektif.
TATA KELOLA DALAM MANAJEMEN RISIKO
Bank CIMB Niaga menerapkan kerangka kerja Enterprise Wide Risk Management. Kerangka ini secara efektif memastikan penerapan tata kelola manajemen risiko secara konsisten. Sistem ini membatasi peluang terhadap munculnya risiko diseluruh aspek kegiatan operasional perbankan pada setiap fungsi bisnis.
Enterprise Wide Risk Management menetapkan pedoman untuk kebijakan dan prosedur yang dibutuhkan untuk menjaga konsistensi di seluruh aspek Bank dan sosialisasinya kepada setiap karyawan Bank. Enterprise Wide Risk Management mengatur bagaimana bank menggunakan modalnya dan menghitung risikonya. Metode ini terbagi berdasarkan beragam jenis risiko yang dihadapi oleh Bank.
types of risk which the bank is required to face. These include all risks associated with Credit, Market, Liquidity, Operational, Legal, Compliance, Reputation and Strategy.
The Enterprise Risk Management Framework, which is responsible for Awareness, Identification, Measurement, Monitoring and Control. The effective execution of these priorities permits the Bank to clearly set and define its objectives as a financial institution.
Reporting on the executive implementation of the Risk Management Framework is the responsibility of the Risk Management Committee.
The committee is chaired by the CEO. Its membership includes all of the Bank’s directors and senior executives. The Risk Management Committee reports directly to the Directors and indirectly to the Board of Commissioners through the Risk Monitoring Committee, which operates alongside the Audit Committee and Nomination &
Remuneration Committee. Directly below the Risk Management Committee are the Credit Policy Committee, the Market Risk Committee, the Operational Risk Committee (which covers IT as well as Operational Risk). Alongside RMC is the Asset & Liability Committee (which covers Liquidity and Interest Rate Risk).
CREDIT RISK MANAGEMENT
CRM is divided into 4 divisions. These are (1) the Risk Management division which comprises Market Risk Management, Operational Risk Management, Credit Risk Analytics & Monitoring, Enterprise Risk Management and Bank Quality Assurance; (2) the Credit Policy and Procedures division which comprises Commercial Credit Policy and Procedure and Retail & SME Credit Policy &
Procedure; (3) the Asset Restructuring and Recovery division which includes several Loan Workout divisions, the Asset Disposal and Business Legal & Litigation; and (4) the Credit Review division which includes Corporate Credit Review as well as two divisions for Business Banking and S&D Credit Review. In terms of merger activities carried out by CRM, the main objective completed in 2009 was the integration of all polices and credit portfolios including the delegation of authority.
In 2009, Credit Risk management has been an area of particular focus for Bank CIMB Niaga due to the increased risk of default presented by the global economic downturn. While most of the Bank’s lending assets have maintained their quality in the face of the adverse market conditions, some sectors particularly those associated with exports - shipping and manufacturing for the corporate segment and export trading for the commercial segment - have been negatively affected.
Termasuk diantaranya adalah risiko terkait Kredit, Pasar, Likuiditas, Operasional, Hukum, Kepatuhan, Reputasi dan Strategi.
Kerangka kerja Enterprise Risk Management yang terdiri atas Kesadaran, Identifikasi, Pengukuran, Pemantauan dan Pengendalian. Pelaksanaan prioritas-prioritas tersebut secara efektif membuat Bank untuk menentukan dan mendefinisikan tujuan-tujuannya sebagai institusi keuangan.
Laporan tentang penerapan Risk Management Framework secara keseluruhan merupakan tanggung jawab Komite Manajemen Risiko. Komite ini diketuai oleh Presiden Direktur, beranggotakan seluruh Jajaran Direksi dan eksekutif senior. Komite Manajemen Risiko bertanggungjawab langsung kepada Direksi dan secara tidak langsung kepada Dewan Komisaris melalui Komite Pemantau Risiko yang bekerja secara berdampingan dengan Komite Audit dan Komite Nominasi dan Remunerasi. Langsung dibawah Komite Manajemen Risiko adalah Komite Kebijakan Kredit, Komite Risiko Pasar, Komite Risiko Operasional (termasuk diantaranya Risiko IT dan Risiko Operasional). Berdampingan dengan Komite Manajemen Risiko adalah Komite Asset & Liability (yang mencakup Risiko Likuiditas dan Risiko Suku Bunga).
MANAJEMEN RISIKO KREDIT
CRM terbagi atas 4 divisi termasuk diantaranya, (1) Divisi Manajemen Risiko yang terdiri atas Manajemen Risiko Pasar, Manajemen Risiko Operasional, Pemantauan dan Analisa Risiko Kredit, Enterprise Risk Management dan Bank Quality Assurance; (2) Divisi Kebijakan dan Prosedur Kredit yang terdiri atas Kebijakan dan Prosedur Kredit Komersial dan Kebijakan dan Prosedur Kredit Retail dan UKM; (3) Divisi Restrukturisasi dan Pemulihan Kredit yang terdiri atas beberapa unit yaitu Penyelesaian Kredit, Penjualan asset dan Business Legal & Litigation; dan (4) Divisi Credit Review yang terdiri atas Corporate Credit Review dan juga 2 unit yaitu masing- masing Business Banking dan S&D Credit Review. Dalam konteks penggabungan aktivitas yang dilaksanakan oleh CRM, sasaran utamanya adalah integrasi seluruh kebijakan dan portofolio kredit termasuk diantaranya adalah pendelegasian wewenang.
Sepanjang tahun 2009, Manajemen Risiko Kredit merupakan fokus Bank CIMB Niaga karena terdapat peningkatan potensi wanprestasi sebagai akibat dari melemahnya perekonomian dunia.
Walau sebagian besar dari kredit yang disalurkan oleh Bank dapat dipertahankan kualitasnya dalam kondisi perekonomian yang kurang menguntungkan, beberapa sektor terutama yang terkait dengan ekspor seperti perkapalan dan manufaktur pada segmen kredit korporasi dan perdagangan ekspor pada segmen kredit komersial mengalami dampak negatif.
Bank policies for Credit Risk management are firmly entrenched and have remained consistent. This enables the quality of assets in the loan portfolios to be maintained at healthy levels. In addition, CRM also conducts regular Post-mortem reviews done by the Credit Review division. Once a loan is considered NPL, it is moved to the Asset Restructuring & Recovery (ARR) division.
In 2009, Indonesia’s economy had to cope with possible fallout from the global financial crisis Accordingly, management of credit risk required greater attention in anticipation of greater possibility of debtors defaulting on their loans due to the crisis situation.
Among measures taken to mitigate credit risk is the strengthening of the Asset Restructuring & Recovery (ARR) unit as well as the implementation of the Four-eyes principle as an effective basis for credit risk reviews on loan applications in the Corporate, Business, Sharia or Retail banking segments. This effectively ensures independent and transparent evaluation on loan applications, while also enhancing monitoring on compliance with respect to loan collateral, loan documentation, and loan administration.
Governance in Credit Risk Management
The Credit Policy Committee (CPC) and Senior Credit Committees (SCC) handle issues related to credit risk, either as individual loans or as a portfolio. The committees are chaired by the Director for Credit and Risk Management, with other members of the Board of Director and senior executive personnel as members. The CPC meets regularly to discuss prevailing trends in loan portfolio quality, evaluate the effectiveness of credit processes, and approve relevant credit policies while the SCC evaluates and approves credit proposals. These activities cover all commercial, consumer (including credit card), and sharia facilities as well as risks in treasury facilities.
Risk Monitoring
Efforts to mitigate credit risk include:
1. Determining exposure limit, such as loan concentration to a certain industry sector.
2. Regular monitoring of the loan portfolio.
3. Conducting regular post mortem review of debtors
4. Conducting stress tests on the loan portfolio or to selected sectors.
Kebijakan Bank terhadap manajemen risiko kredit tetap tegas dan konsisten. Hak ini menyebabkan kualitas asset dalam portofolio kredit dapat dipertahankan pada tingkat yang sehat. CRM juga melakukan kajian pasca pencairan kredit secara berkala yang dilaksanakan oleh Divisi Credit Review. Bila kredit telah dikategorikan tidak lancar maka portofolio tersebut dialihkan ke Divisi Asset Restructuring & Recover (ARR).
Sepanjang tahun 2009 perekonomian Indonesia harus menghadapi kemungkinan kegagalan akibat krisis keuangan global. Dengan adanya krisis tersebut, perhatian akan risiko kredit menuntut perhatian yang lebih dikarenakan risiko wanprestasi debitur meningkat dalam kondisi krisis tersebut. Beberapa hal yang dilakukan untuk mitigasi risiko kredit diantaranya dengan memperkuat unit Asset Restructuring and Recovery (ARR) dan juga penerapan Four-eyes Principle yang menjadi dasar prosedur pengkajian risiko kredit yang efektif untuk setiap aplikasi kredit di segmen Corporate, Business, Syariah maupun Retail. Hal ini memastikan adanya evaluasi kredit yang independen dan transparan, juga meningkatkan kualitas pemantauan kepatuhan atas aspek agunan, dokumentasi dan administrasi kredit.
Tata Kelola Manajemen Risiko Kredit
Komite Kebijakan Kredit dan Komite Kredit Senior menangani hal- hal yang terkait dengan risiko kredit, baik satu per satu maupun secara portofolio komite-komite ini dipimpin oleh Direktur Kredit dan Manajemen Risiko dan beranggotakan para direktur dan senior eksekutif. Komite Kebijakan Kredit ini mengadakan rapat rutin untuk membahas kecenderungan kualitas pinjaman, mengevaluasi efektivitas proses kredit dan memberi persetujuan terhadap kebijakan kredit sementara Komite Kredit Senior mengevaluasi dan menyetujui proposal kredit. Semua aktivitas di atas mencakup semua jenis pinjaman, yakni perbankan komersial, perbankan konsumer (termasuk kartu kredit), perbankan syariah dan juga risiko kredit treasury.
Pemantauan Risiko
Beberapa upaya yang ditempuh untuk memitigasi risiko kredit antara lain dengan:
1. Menentukan batasan eksposur seperti konsentrasi kredit pada sektor industri tertentu.
2. Memantau portofolio kredit secara berkala.
3. Melakukan post mortem review terhadap debitur secara berkala
4. Melakukan stress test dengan memperhitungkan dampak skenario terburuk terhadap portfolio ataupun debitur-debitur tertentu.
Loan Restructuring and Recovery
ARR engages in intensive efforts to resolve non-performing loans, including through collection, sales of debtors’ assets, facility restructuring, and also litigation measures. Collection activities are supported by a system that allows regular monitoring of loan status and especially for potential non-performing loans.
MARKET RISK MANAGEMENT
Management of the bank’s market risk exposure is important particularly since it has a growing Treasury Business with more advanced products. CRM is responsible for ensuring that Market Risk Management process in the Bank is running properly supported by an adequacy of Market Risk Management Policy as well as by reliable infrastructure in identifying, measuring, and monitoring market risk exposures.
CRM has already established a new market risk policy for the merged Bank, which provides guidance in the risk management process particularly market risk exposure under Trading Book portfolio.
Market Risk Limit framework with more risk sensitive measurements such as DV01, Vega and Value at Risk have also been established.
The framework encompasses a comprehensive limit structure including level of authority to propose, monitor, and approve the limits as well as the exception management process.
At the start of the year, CRM determined the risk level indicator which represents risk tolerance acceptable to the Directors.
Among the risk level indicators, Value at Risk (VaR) has a dominant contribution on representing overall market risk tolerance level.
Starting from the target business of Treasury as well as historical market risk exposure, risk level indicators and market risk limits were determined.
A key lesson learned from the recent global crisis, CRM finds that Credit and Market Risk should not always be viewed independently.
Hence, integrated counterparty and market risk management process was established. Since mid 2009, credit risk exposure arising from Treasury activity has been closely monitored on a daily basis by Market Risk Management Group. On a monthly basis, the exposure is reported to and evaluated by Market Risk Committee (MRC).
Aktivitas Restrukturisasi dan Pemulihan Kredit
Asset Restructuring & Recovery bertugas menyelesaikan kredit bermasalah secara intensif, diantaranya melalui penagihan, penjualan aktiva debitur, restrukturisasi kredit hingga upaya hukum.
Aktivitas penagihan didukung dengan sistem yang memungkinkan pemantauan status kredit secara berkala khususnya terhadap kredit yang berpotensi menjadi bermasalah.
MANAJEMEN RISIKO PASAR
Pengelolaan terhadap risiko pasar bank sangat penting terutama karena Bank memiliki bisnis Treasury yang sedang tumbuh dengan produk-produk yang lebih canggih. CRM bertanggung jawab untuk memastikan proses Manajemen Risiko Pasar dilaksanakan dengan baik dan didukung oleh Kebijakan Manajemen Risiko Pasar yang memadai selain infrastruktur yang dapat diandalkan untuk mengidentifikasi, mengukur dan memantau eksposur risiko pasar.
CRM telah menetapkan kebijakan risiko pasar yang baru bagi Bank hasil merger yang digunakan sebagai panduan bagi pelaksanaan proses manajemen risiko terutama paparan risiko pasar dalam portofolio Trading Book.
Kerangka Limit Risiko Pasar dengan pengukuran yang lebih sensitif seperti DV01, Vega dan Value at Risk telah diterapkan. Kerangka kerja tersebut meliputi struktur limit yang lengkap termasuk tingkat kewenangan untuk mengajukan, memantau dan memberi persetujuan limit termasuk pengelolaan proses penyimpangan.
Pada awal tahun, CRM menetapkan indikator tingkat risiko yang mewakili toleransi risiko yang dapat diterima oleh Direksi. Diantara indikator risiko tersebut, Value at Risk (VaR) memberi kontribusi yang dominan dalam mewakili tingkat toleransi terhadap risiko pasar secara keseluruhan. Dimulai dengan sasaran bisnis Treasury termasuk mempertimbangkan perilaku risiko pasar secara historis, indikator tingkat risiko dan limit risiko pasar ditetapkan.
Pelajaran dari krisis global yang baru terjadi, CRM berpendapat bahwa Risiko Kredit dan Pasar tidak dapat dipandang secara terpisah. Oleh karena itu, proses pengintegrasian proses pengelolaan risiko counterparty dan risiko pasar ditetapkan.
Semenjak pertengahan tahun 2009, eksposur risiko kredit dari aktivitas Treasury telah dipantau dengan seksama setiap harinya oleh Market Risk Management Group. Setiap bulannya, eksposur risiko dilaporkan dan dievaluasi oleh Market Risk Committee (MRC).