Bukit Asam has a Risk Management division aimed at supporting risk management across all company activities to ensure business continuity, achieve established targets, and provide optimal added value for stakeholders.
Monitor the implementation of the Risk Management strategy approved by the Board of Directors;
Monitor the Risk Profile, Risk Map, realization of inherent and residual risk calculations, and the implementation of risk treatments and costs;
Conduct internal control testing and stress testing;
Periodically review the Risk Management process;
Evaluate the accuracy of models and the validity of data used for risk measurement;
To carry out its internal audit function, Bukit Asam has established an Internal Audit Division (known as the Internal Supervisory Unit/SPI). To ensure the effective implementation of its duties, SPI coordinates closely with the Audit Committee, the Internal Audit Division of Holding Company MIND ID, and serves as a working partner for external auditors. Additionally, SPI maintains professional working relationships with internal audit functions in subsidiaries, affiliated entities, and company-owned foundations.
Develop and implement the Long-Term Audit Plan (LTAP) and Annual Audit Work Program (AAWP) based on risk assessment, including allocation for the execution of internal supervisory functions, as approved by the President Director and the Commissioner in charge of the Audit Committee.
In corporate management, Bukit Asam has a Corporate Management System & Performance Division that plays a crucial role in managing and controlling the management systems within the company. This division is responsible for conducting reviews and evaluations of certifications as well as the company’s performance management systems.
In its efforts to achieve corporate objectives, Bukit Asam is committed to building an organization that is effective, efficient, and recognized both nationally and internationally. To realize this commitment, the company established the Bukit Asam Management System (SMBA), which has been implemented since July 16, 2010. The SMBA is operated based on the latest nationally and internationally recognized standards and is implemented in an integrated manner.
Provide recommendations to the first line of defense and/or the Risk Monitoring Committee in accordance with assigned authority; and
Prepare and submit the Risk Management Report to the Director in charge of risk management and the Risk Monitoring Committee on a quarterly basis.
Strategic;
Financial;
Legal, Compliance, & Reputation;
Market & Macroeconomic;
Operational;
IT & Cybersecurity;
Social & Environment; dan
Project.
Ensure the implementation of Internal Supervision is in accordance with the approved plan.
Evaluate the effectiveness of internal controls, risk management, and corporate governance processes in compliance with prevailing laws, regulations, and company policies.
Conduct reviews and assessments of the economy, efficiency, and effectiveness in areas such as finance, accounting, operations, human resources, marketing, information technology, and other activities.
Provide constructive suggestions and recommendations to ensure the adequacy and continuous improvement of governance, risk management, and control systems, as well as provide objective information on the activities audited/evaluated at all levels of management.
Prepare and submit audit/evaluation reports to the President Director and Board of Commissioners, with prior approval from the President Director, to facilitate timely corrective actions.
Monitor, analyze, and report the follow-up implementation of audit findings to the President Director and Board of Commissioners.
Develop and implement Quality Assurance and development programs, and evaluate the efficiency and effectiveness of Internal Audit activities. Identify areas for continuous improvement to ensure the Internal Audit Division operates in line with applicable standards, the Code of Ethics, and the Internal Audit Charter to deliver high-quality audit results.
Ensure Internal Auditors engage in Continuous Professional Development (CPD) and receive training relevant to the complexity and nature of the Company’s business operations.
Draft and periodically review the Internal Audit Charter, and submit it to the President Director and Board of Commissioners.
Assess and monitor information and communication systems to ensure the security of the Company’s critical information and ensure that corporate reporting and activities comply with applicable regulations.
Coordinate activities with external auditors.
Carry out special assignments (including acting as counterpart or support for external auditors and consultants) as assigned by the President Director.
Conduct Special Purpose Audits or Thematic Audits at the request of the President Director.
As the Internal Supervisory Unit (SPI) of the Parent Company (PTBA), the Internal Audit Division may: Determine audit strategies for subsidiaries; Formulate internal audit principles, including audit methodologies and quality control procedures; Monitor the implementation of internal audits in each subsidiary.
Maintain the confidentiality of company-related information and/or data in connection with the execution of internal audit duties and responsibilities, unless disclosure is required by applicable laws or court decisions.
Ensure the confidentiality of information obtained during service in accordance with applicable laws and regulations.
In the event of using external services for Internal Supervision activities: Ensure knowledge transfer from external experts to internal audit personnel, acknowledging that such use is temporary; Ensure the use of external experts does not compromise the independence and objectivity of the Internal Audit Division.
