Waskita Karya - Risk Management loader loader
Risk Management
Changes in external and internal conditions of PT Waskita Karya (Persero) Tbk's business have impacts on increasing uncertainty that can harm The Company. Risk Management has been implemented by Waskita since 2004 to identify, mitigate, manage and evaluate the risks faced by The Company. In order to anticipate the security demand, in 2011 Waskita Procedures in Risk Management has been adjusted by adding security control elements based on PERKAP (Regulation of The Chief of Police The Republic of Indonesia) No. 24 Year 2007 into the framework.
As a step to adjust to The Company's business development, in 2014 Waskita has updated COSO ERM framework since. In addition, there are some changes of risk rating criteria to assess risk level which in line with company growth, and also the implementation of early warning system which can detect the risk with significant impact. In 2017, Waskita cooperated with Risk Management consultant to prepare an update on Waskita Procedure in Risk Management (PW Risk Management) with references to COSO ERM 2017.
The updated PW Risk Management aims to intergrate risk management more effective starting from changes in the risk management organization structure, risk reporting of subsidiaries, and also strengthening quantitative measures.
Road Map Risk Management
The Implementation of Risk Management Work Programs
The programs of risk management in 2018 has 3 outlines :
1. To increase risk-awareness culture
Risk management workshop for manager-level and risk management training for project-level are conducted as one of the steps towards creating a risk-awareness culture.
2. To review and develop risk parameters
Hire risk management consultants to review and develop Waskita Procedures in Risk Management to be in line with company's development.
3. To form Strategic Risk Profile
Revision PW Risk Management in order to comply with the provisions of ISO 9001 and 14001 version 2015. Preparation of strategic risk profile based on the level risk is to determine strategic risk profile, mitigation & follow-up plan, and KRI (Key Risk Indicators) corporate risk profile.
Risk Management Certification and Training
1. Internal Audit Training ISO 9001:2015 & ISO 14001:2015
2. Project Risk Management Workshop by companies and institutions
3. Risk Management education and training that has been accredited in the field of risk management
Sharing knowledge
Sharing knowledge is a way to socialize and build corporate risk culture that is routinely carried out by every event such as coordination meeting, gathering, and LDP (Learning Development Program).