Achievement in Operational Risk Management CIMB Niaga

The winning bank is the second-largest private bank in Indonesia. It has proactively worked to comply with the Basel III Reforms Framework for operational risk capital calculation. The bank has adopted intelligent systems to induce efficiency in the analytical work to better manage operational risk. More importantly, during the period considered for the award, the bank reported an outage in one of the digital channels that lasted for only two hours and 40 minutes with a minor financial impact of $7,300. It was addressed immediately, which showed that the bank’s operational risk management practices were effective.

For its proactive compliance with regulations and effective practices, the award for Achievement in Operational Risk Management goes to CIMB Niaga.