Jakarta. The Financial Services Authority (OJK) launched Thursday an information system dedicated to governance, risk, and compliance (GRC).

According to OJK, this SI-GRC system will support the agency's duties in regulating and supervising the financial services sector.

Mahendra Siregar, the chairman of OJK's board of commissioners, said that the agency should strengthen the resilience of the financial services industry to global economic volatility. To this end, OJK seeks to improve its prudent risk management, including adaptive cyber risk management through continuous investment in infrastructure and human capital.

"The SI-GRC will play a pivotal role in making sure that we carry out risk management in a comprehensive and integrated manner," Mahendra was quoted as saying in a press statement.

The launch was part of the 2025 Risk and Quality Officer (RQO) Forum.

According to Mahendra, the forum becomes an opportunity to strengthen the strategic role of OJK's work unit leaders and RQOs in governance and internal control. He also underlined how the quality of OJK's human capital will determine the stability of Indonesia's financial services industry. This includes their capability of maintaining good governance and managing risks effectively.

Sophia Wattimena, who chairs OJK's audit board, said that the SI-GRC's development had already begun before 2019.  At that time, the information system was still running separately across work units. The growing need for accurate and fast data prompted OJK to develop the SI-GRC.

"SI-GRC has integrated risk management and internal control information systems into a single platform, equipped with an interactive dashboard to present real-time risk reports, ranging from incident statistics and risk mitigation, IRU [investors relations unit], to CACM [continuous audit, continuous monitoring]," said Sophia.