OJK: Financial Industry Must Strengthen GRC to Face Global Risks

The success of development depends not only on sound policies but also on governance capable of translating them into tangible results for society. The Financial Services Authority (OJK) has stated that the financial services industry must continue to strengthen the implementation of governance, risk, and compliance (GRC) to face increasingly complex global risks. Speaking at the Risk and Governance Summit (RGS) 2026 in Jakarta on Tuesday, OJK Board of Commissioners member Sophia Wattimena said the rapidly evolving global risk landscape requires organisations to strengthen governance and risk management to be more adaptive to various challenges. According to her, cyber risks, misuse of artificial intelligence, regulatory changes, geopolitical uncertainty, and climate change are the main challenges that the financial services industry must anticipate. Sophia stated that the implementation of governance, risk, and compliance is no longer merely a compliance instrument but has become a key foundation in maintaining organisational resilience while driving sustainable economic growth. She added that strengthening GRC is also in line with the government’s seventh Astacita priority, which emphasises bureaucratic reform, prevention and eradication of corruption, and the implementation of good governance. On the same occasion, Deputy for Business Management and Development Coordination of State-Owned Enterprises at the Coordinating Ministry for Economic Affairs Ferry Irawan said that good governance is the foundation for institutional credibility, business certainty, and increased investor confidence. Ferry stated that future-ready governance must be able to anticipate risks before they develop into crises, especially amid rising geopolitical tensions, financial market volatility, and global supply chain disruptions that create increasingly complex and interconnected risks. Director General of Digital Ecosystem at the Ministry of Communication and Digital Affairs Edwin Hidayat Abdullah said digital transformation must serve as a lever to boost national productivity and public welfare. RGS 2026 was organised by OJK with the theme Future-ready Governance for Sustainable Growth and National Prosperity as a forum to strengthen collaboration among regulators, the financial services industry, academics, and stakeholders in building more effective governance, risk management, and compliance to support sustainable economic growth.