ENTERPRISE RISK MANAGEMENT FOR ISLAMIC BANKS

WEEK 6

Operational, Compliance, Shariah Non-Compliance,�Legal, Strategic & Fiduciary Risk

Detailed lecture deck • Chapters 18–20

Ronald Rulindo, PhD

WEEK 6

Week 6 Architecture

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Operational Risk

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Compliance Risk

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Shariah Non-Compliance

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Legal Risk

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Strategic Risk

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Fiduciary Risk

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WEEK 6

PART I — OPERATIONAL RISK

Risiko kerugian akibat kegagalan people, process, systems, atau external events—dengan kompleksitas tambahan dari akad dan proses syariah.

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OPERATIONAL RISK

What Is Operational Risk?

• Operational risk adalah risiko kerugian akibat proses internal yang tidak memadai/gagal, manusia, sistem, atau kejadian eksternal.

• Kerugian dapat bersifat finansial, operasional, hukum, reputasi, maupun shariah-related.

• Operational risk terjadi di seluruh unit: financing, funding, treasury, operations, IT, branches, digital channels, dan support functions.

• Pada bank syariah, kegagalan proses dapat sekaligus menciptakan Shariah Non-Compliance Risk.

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OPERATIONAL RISK

Four Main Sources

Internal Sources

• People: error, fraud, misconduct, lack of competence.

• Process: SOP lemah, approval salah, documentation failure.

• Systems: downtime, cyber, data error, integration failure.

External Events

• Bencana alam dan physical disruption.

• Vendor / third-party failure.

• External fraud dan cyber attack.

• Perubahan lingkungan yang mengganggu operasi.

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OPERATIONAL RISK

Why Operational Risk Is More Complex in Islamic Banks

• Akad memiliki rukun, syarat, dan sequence yang harus diikuti.

• Ownership harus benar-benar terjadi pada akad tertentu.

• Profit-sharing calculation dan distribution harus akurat.

• Kesalahan workflow dapat membuat transaksi berjalan secara teknis tetapi tidak sesuai syariah.

• Operational failure dapat memicu legal, SNCR, reputational, liquidity, dan fiduciary risk.

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OPERATIONAL RISK

Examples by Islamic Contract

• Murabahah: akad dilakukan sebelum ownership valid atau margin salah input.

• Ijarah: asset/maintenance responsibility tidak dimonitor.

• Mudharabah: profit verification dan reporting usaha lemah.

• Musyarakah/MMQ: ownership share tidak diperbarui secara benar.

• Tawarruq: commodity sequence atau documentation gagal.

• Profit distribution: nisbah/system calculation salah.

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WEEK 6

OPERATIONAL RISK MANAGEMENT

Identification → Assessment → Measurement → RCSA/KRI → Prevention → Mitigation → Monitoring → Reporting → ERM

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OPERATIONAL RISK

Operational Risk Identification

• Process mapping: petakan proses end-to-end dan titik kegagalan.

• Loss event history: gunakan kejadian kerugian sebelumnya.

• Near miss: catat kejadian yang hampir menimbulkan loss.

• Audit findings dan complaint analysis.

• RCSA oleh unit pemilik proses.

• Scenario workshop untuk low-frequency high-impact events.

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OPERATIONAL RISK

Operational Risk Assessment

• Nilai likelihood/frequency dan impact/severity.

• Bedakan inherent risk sebelum kontrol dan residual risk setelah kontrol.

• Nilai design dan operating effectiveness dari kontrol.

• Perhatikan velocity: seberapa cepat risiko menjadi kerugian.

• Prioritaskan high-impact risks meskipun frekuensinya rendah.

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OPERATIONAL RISK

RCSA Process

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Identify Risk

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2

Identify Controls

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Assess Inherent Risk

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Assess Control Effectiveness

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Residual Risk

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Action Plan

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OPERATIONAL RISK

Operational Risk Measurement

• Operational loss database: jumlah kejadian dan nilai kerugian.

• Frequency–severity analysis untuk memahami pola loss.

• Near-miss trend sebagai warning signal.

• KRI untuk memonitor perubahan exposure sebelum loss terjadi.

• Scenario analysis dan stress testing untuk kejadian ekstrem.

• Capital measurement: pendekatan Basel historis BIA/TSA/AMA dan Standardized Measurement Approach.

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OPERATIONAL RISK

Examples of Operational KRI

• System downtime.

• Failed transaction rate.

• Number/value of fraud incidents.

• Unresolved audit findings.

• Staff turnover pada critical functions.

• Shariah process violation / sequence exception.

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OPERATIONAL RISK

Scenario Analysis & Stress Testing

• Scenario analysis digunakan untuk kejadian jarang tetapi berdampak besar.

• Contoh: core banking outage, cyber attack, data center failure, major fraud, vendor collapse.

• Stress test menilai apakah critical services tetap berjalan.

• Pertanyaan utama: apakah backup site aktif sesuai RTO/RPO dan settlement tetap berjalan?

• Hasil digunakan untuk memperkuat operational resilience.

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OPERATIONAL RISK

Operational Risk Prevention

• Governance dan accountability yang jelas.

• Segregation of duties dan maker–checker–approver.

• SOP yang jelas, sederhana, updated, sesuai regulasi dan fatwa.

• Training, certification, refreshment dan coaching.

• Automation, system validation dan audit trail.

• Shariah-specific preventive controls: ownership, sequence, supplier, profit verification.

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OPERATIONAL RISK

Operational Risk Mitigation

• Incident containment untuk menghentikan dampak meluas.

• Investigation dan Root Cause Analysis (RCA).

• Corrective action yang menyelesaikan akar masalah, bukan hanya gejala.

• Business Continuity Plan untuk menjaga critical business services.

• Disaster Recovery Plan untuk pemulihan teknologi/data.

• Risk transfer melalui takaful/insurance bila relevan—bukan pengganti kontrol.

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OPERATIONAL RISK

Incident Management

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Incident

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Containment

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Investigation

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Root Cause Analysis

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Corrective Action

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Monitoring

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OPERATIONAL RISK

BCP & DRP

• BCP: critical process, alternate site, emergency communication, crisis team, recovery procedure.

• DRP: backup server/database, recovery procedure, RTO, RPO dan disaster simulation.

• RTO = target waktu pemulihan layanan.

• RPO = toleransi maksimum kehilangan data.

• BCP/DRP harus diuji, bukan hanya didokumentasikan.

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OPERATIONAL RISK

Vendor & Outsourcing Risk

• Vendor dapat menjadi single point of failure: cloud, switching, call center, fintech partner, collection agency.

• Due diligence: financial strength, security, reputation, SLA dan business continuity.

• Kontrak harus mengatur service level, data, audit rights, incident reporting dan exit.

• Bank tetap bertanggung jawab atas risiko walaupun proses di-outsourcing.

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OPERATIONAL RISK

Monitoring & Reporting

• Dashboard: downtime, fraud, failed transactions, complaints, audit findings dan action plans.

• Reporting mencakup incident, loss, KRI, RCSA, audit findings dan trend analysis.

• Board membutuhkan tren, top risks, emerging risks, management actions dan keputusan yang diperlukan.

• Escalation harus cepat untuk event material.

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OPERATIONAL RISK

Operational Risk Appetite & ERM

• Contoh appetite: fraud zero tolerance; shariah process violation zero tolerance.

• Downtime, failed transaction dan unresolved findings memiliki threshold/limit.

• Operational risk terhubung dengan credit, market, liquidity, legal, reputational dan SNCR.

• Risk cascade dapat dimulai dari human error dan berakhir pada funding/liquidity pressure.

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WEEK 6

PART II — COMPLIANCE RISK

Risiko akibat kegagalan memenuhi ketentuan eksternal maupun internal yang berlaku.

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COMPLIANCE RISK

Definition & Scope

• Compliance Risk adalah risiko akibat bank gagal mematuhi undang-undang, regulasi, standar, kebijakan internal dan ketentuan yang berlaku.

• Ruang lingkup: regulatory, prudential, AML/CFT, consumer protection, internal policy dan shariah compliance.

• Dampak: denda, supervisory action, pembatasan bisnis, operational change, reputational damage dan strategic constraint.

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COMPLIANCE RISK

Key Compliance Areas

External

• Regulatory compliance.

• Prudential requirements: CAR, limits, liquidity, provisioning.

• AML/CFT and sanctions.

• Consumer protection.

Internal / Islamic

• Internal policy and approval authority.

• SOP dan treasury policy.

• Fatwa, DPS requirements dan shariah governance.

• Product/process compliance.

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COMPLIANCE RISK

Compliance Risk Identification

• Bangun compliance universe dan regulatory inventory.

• Petakan area highly regulated: treasury, AML, financing, reporting, digital banking dan shariah compliance.

• Identifikasi perubahan regulasi dan gap implementasi.

• Gunakan audit findings, regulator findings, exceptions dan complaints sebagai sumber.

• Identifikasi dependency pada people, process, system dan governance.

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COMPLIANCE RISK

Compliance Risk Assessment

• Kompleksitas regulasi.

• Frekuensi perubahan regulasi.

• Volume transaksi.

• Tingkat otomatisasi.

• Kualitas kontrol dan kompetensi.

• Potential impact: financial, regulatory, operational, reputational dan strategic.

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COMPLIANCE RISK

Compliance Risk Measurement

• Jumlah regulatory breaches.

• Jumlah regulator/audit findings.

• Overdue regulatory reporting.

• Policy exceptions dan overrides.

• AML/CFT findings.

• Corrective-action completion dan repeat findings.

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COMPLIANCE RISK

Compliance KRI & Early Warning

• Exception meningkat.

• Audit findings meningkat.

• Keterlambatan laporan meningkat.

• Complaint regulator meningkat.

• Override terhadap kebijakan meningkat.

• Repeat findings menunjukkan root cause belum diselesaikan.

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COMPLIANCE RISK

Compliance Testing

• Financing: limit, approval authority, documentation dan process compliance.

• AML: KYC, beneficial owner, suspicious transaction analysis dan sanctions screening.

• Testing dilakukan periodik dan berbasis risiko.

• Hasil testing harus menghasilkan remediation dan follow-up.

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COMPLIANCE RISK

Prevention & Control

• Regulatory change management.

• Compliance universe dan obligation mapping.

• Policy/SOP update yang cepat.

• Training dan compliance awareness.

• System-based controls dan mandatory validations.

• Compliance culture: kepatuhan adalah tanggung jawab seluruh pegawai.

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COMPLIANCE RISK

Mitigation, Monitoring & Reporting

• Corrective action untuk breach dan control weakness.

• Root-cause analysis untuk repeat findings.

• Monitoring berkelanjutan atas reporting, limits, AML, internal policy dan shariah compliance.

• Reporting kepada management, compliance/risk committee, board dan regulator.

• Laporan harus menunjukkan breach, trend, root cause, remediation dan overdue actions.

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COMPLIANCE RISK

Dual Compliance in Islamic Banking

Regulatory Compliance

• Patuh hukum dan regulasi.

• Prudential, AML/CFT, consumer protection.

• Internal policy dan supervisory expectations.

Shariah Compliance

• Patuh prinsip/fatwa/ketentuan syariah.

• Akad, ownership, sequence, underlying dan profit distribution.

• Bank harus memenuhi keduanya secara bersamaan.

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WEEK 6

PART III — SHARIAH NON-COMPLIANCE RISK

Risiko yang menyentuh legitimasi transaksi dan identitas bank syariah.

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SHARIAH NON-COMPLIANCE RISK

Definition & Why It Matters

• SNCR adalah risiko akibat kegagalan mematuhi prinsip, aturan, fatwa atau ketentuan syariah dalam produk, akad, transaksi, proses maupun aktivitas bank.

• Akibatnya akad dapat dipersoalkan, pendapatan perlu dikoreksi/purifikasi, proses diperbaiki dan reputasi terganggu.

• Produk dapat patuh regulasi tetapi tetap tidak patuh syariah.

• SNCR dapat mempertanyakan alasan utama nasabah memilih bank syariah.

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SHARIAH NON-COMPLIANCE RISK

Main Sources of SNCR

• Akad dan product structure.

• Transaction sequence dan ownership.

• Underlying asset.

• Documentation.

• Systems and operational process.

• Treasury activities dan profit distribution.

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SHARIAH NON-COMPLIANCE RISK

Examples by Contract

Sale / Lease

• Murabahah: ownership belum terjadi sebelum sale.

• Ijarah: asset/manfaat belum valid atau maintenance responsibility salah.

• Salam: spesifikasi/waktu tidak jelas atau pembayaran tidak penuh di awal.

Partnership / Complex

• Mudharabah: nisbah/loss allocation salah.

• Musyarakah/MMQ: profit-loss/ownership transfer salah.

• Tawarruq: commodity tidak nyata atau sequence formalitas.

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SHARIAH NON-COMPLIANCE RISK

SNCR Identification

• Product review sejak tahap desain.

• Akad mapping: produk → akad → rukun → syarat → sequence.

• Transaction walkthrough end-to-end.

• Process/system mapping untuk menemukan workflow yang memungkinkan pelanggaran.

• Review temuan DPS, shariah audit, regulator dan internal audit.

• Complaint analysis dan pembentukan Shariah Risk Register.

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SHARIAH NON-COMPLIANCE RISK

SNCR Assessment

• Kompleksitas akad.

• Volume dan nilai transaksi.

• Tingkat otomatisasi.

• Kualitas SDM dan dokumentasi.

• Sensitivitas produk dan materialitas dampak.

• Likelihood, impact dan possibility of systemic/repeat issue.

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SHARIAH NON-COMPLIANCE RISK

SNCR Measurement & KRI

• Jumlah dan materialitas shariah findings.

• Repeat findings dan overdue corrective actions.

• Jumlah transaksi/pendapatan yang membutuhkan rectification atau purification.

• Sequence/ownership exceptions.

• Complaint terkait akad/profit distribution.

• Trend analysis: findings, complaints, purification dan recurrence.

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SHARIAH NON-COMPLIANCE RISK

SNCR Prevention

• Product structuring review sebelum launch.

• Akad validation: rukun, syarat, object, price/consideration dan enforceability.

• Sequence control yang dikunci dalam workflow.

• Documentation control agar fatwa–dokumen–implementasi konsisten.

• System-based controls agar transaksi yang tidak compliant tidak dapat diproses.

• Maker–checker dan DPS/Shariah review pada area sensitif.

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SHARIAH NON-COMPLIANCE RISK

Prevent Before Rectify

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Product Design

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Shariah Review

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System Design

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Execution

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Monitoring

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SHARIAH NON-COMPLIANCE RISK

SNCR Mitigation

• Hentikan atau batasi transaksi yang bermasalah.

• Rectification / correction sesuai arahan shariah governance.

• Income purification bila terdapat non-compliant income.

• Customer remediation bila hak nasabah terdampak.

• Root-cause remediation pada system, process, document atau competence.

• Escalation ke DPS dan governance body untuk temuan material.

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SHARIAH NON-COMPLIANCE RISK

Monitoring & Reporting

• Monitor findings, repeat issues, purification, complaints dan corrective actions.

• Shariah review dan shariah audit menjadi independent assurance.

• Reporting harus menunjukkan area, materiality, root cause, financial impact dan status remediation.

• Material issues perlu di-escalate ke management, DPS, risk committee dan board.

• Risk appetite untuk material SNCR pada prinsipnya sangat rendah/zero tolerance.

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SHARIAH NON-COMPLIANCE RISK

SNCR Risk Cascade

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SNCR

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Trust Declines

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Fiduciary Risk

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Reputational Risk

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DCR

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Liquidity Pressure

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WEEK 6

PART IV — LEGAL RISK

Bank hidup dari kontrak. Jika hak tidak dapat ditegakkan, economic value dapat hilang.

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LEGAL RISK

Definition & Sources

• Legal Risk adalah risiko kerugian akibat kelemahan aspek hukum sehingga hak dan kewajiban bank tidak dapat ditegakkan secara efektif.

• Sumber: kontrak tidak valid, dokumentasi tidak lengkap, wording ambigu, perubahan regulasi, litigasi, kelemahan jaminan dan sengketa ownership.

• Area: funding, financing, treasury, trade finance, digital banking, outsourcing dan vendor agreement.

• Pada bank syariah kompleksitas meningkat karena banyak akad dan ownership transfer.

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LEGAL RISK

Legal Risk by Islamic Contract

• Murabahah: ownership documentation lemah sehingga hak bank sulit dibuktikan.

• Ijarah: maintenance responsibility ambigu memicu dispute.

• MMQ: porsi ownership tidak terdokumentasi saat exit.

• Collateral: perfection/registration lemah membuat recovery gagal.

• SNCR dan legal risk dapat muncul bersamaan jika akad bermasalah.

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LEGAL RISK

Legal Risk Identification & Assessment

• Identifikasi area dengan contract intensity tinggi.

• Review contract, collateral, ownership, jurisdiction dan legal exceptions.

• Assessment: contract complexity, transaction value, enforceability, documentation quality, dispute probability dan jurisdiction.

• Prioritaskan high-value/high-impact exposures meskipun likelihood rendah.

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LEGAL RISK

Legal Risk Measurement & KRI

• Jumlah active legal cases.

• Nilai gugatan / legal exposure.

• Jumlah kontrak bermasalah atau tidak lengkap.

• Legal opinion exceptions.

• Collateral disputes.

• Vendor contracts overdue / unresolved.

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LEGAL RISK

Legal Risk Prevention

• Standardisasi kontrak dan clause library.

• Mandatory legal review.

• Complete and traceable documentation.

• Legal due diligence.

• Validasi ownership dan collateral perfection.

• Legal awareness untuk business/operations.

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LEGAL RISK

Legal Risk Mitigation

• Legal opinion dan case strategy.

• Negotiation atau restructuring.

• Mediation / alternative dispute resolution.

• Litigation bila diperlukan.

• Provision/contingency planning untuk potential loss.

• Perbaikan kontrak dan proses agar kasus tidak berulang.

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LEGAL RISK

Monitoring, Reporting & ERM

• Monitor active cases, dispute trend, contract quality, legal findings dan regulatory changes.

• Reporting: exposure value, probability/outlook, estimated loss dan resolution status.

• Board perlu memahami implikasi strategis dari major litigation.

• Legal risk berinteraksi dengan credit recovery, SNCR, operational dan reputational risk.

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WEEK 6

PART V — STRATEGIC RISK

Risiko ketika pilihan strategi, implementasi, atau perubahan lingkungan menghalangi tujuan bank.

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STRATEGIC RISK

What Is Strategic Risk?

• Strategic risk muncul ketika strategi salah, tidak relevan, tidak dieksekusi dengan baik, atau lingkungan berubah lebih cepat daripada respons bank.

• Risiko dapat berasal dari business model, product mix, technology, market, regulation, competition, people dan reputation.

• Bank syariah harus menyeimbangkan profitability, risk dan shariah compliance.

• Strategic risk sering berdampak besar meskipun tidak muncul sebagai loss event harian.

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STRATEGIC RISK

Islamic Banking Strategic Challenges

• Literasi dan market development.

• Kompetisi dengan bank konvensional dan fintech.

• Keterbatasan Islamic liquidity instruments.

• Product concentration, misalnya dominasi murabahah.

• Digital transformation dan customer experience.

• Menjaga authentic shariah proposition sekaligus commercial viability.

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STRATEGIC RISK

Strategic Risk Identification

• Pertanyaan utama: apa yang dapat menghalangi strategic objectives?

• Area: business model, products, technology, market, regulation, competitors, people dan reputation.

• Tools: SWOT, PESTEL, scenario planning, strategic workshop dan environmental scanning.

• Output: strategic risk register linked to objectives.

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STRATEGIC RISK

Strategic Risk Assessment

• Likelihood.

• Impact.

• Time horizon.

• Preparedness.

• Strategic importance.

• Heat map harus dibaca bersama speed of change dan management capacity.

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STRATEGIC RISK

Strategic Risk Prevention

• Strategic planning yang realistis dan berbasis data.

• Risk assessment sebelum strategi dijalankan.

• Environmental scanning: economic, regulatory, competitive, technological dan social.

• PESTEL dan scenario planning.

• Diversifikasi product, sector, geography, funding dan income source.

• Pastikan capital, liquidity, people dan technology mendukung target pertumbuhan.

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STRATEGIC RISK

Scenario Planning

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Base Scenario

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Stress Scenario

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Severe / Disruption Scenario

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Management Response

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Strategic Adjustment

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STRATEGIC RISK

Strategic Risk Mitigation

• Modify strategy ketika asumsi utama berubah.

• Reallocate capital/resources ke area yang lebih viable.

• Diversify product/sector/channel.

• Partnership atau capability build bila gap kompetensi besar.

• Exit/scale-down aktivitas yang tidak lagi sesuai risk-return.

• Contingency plan untuk major strategic assumptions.

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STRATEGIC RISK

Strategic Risk Appetite

• Risk appetite menjawab risiko strategis apa yang bersedia diambil untuk tumbuh.

• Digital investment dapat memiliki appetite lebih tinggi dibanding concentration risk.

• Vision → Strategy → Risk Appetite → Risk Limits.

• Appetite harus membatasi growth yang mengorbankan capital, liquidity atau shariah compliance.

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STRATEGIC RISK

Monitoring & Early Warning

• Market share.

• Profitability dan cost trend.

• Customer growth.

• Digital adoption.

• Product concentration.

• Competitor growth dan regulatory/technology change.

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STRATEGIC RISK

Strategic Risk Reporting & ERM

• Board perlu mengetahui: apa yang berubah, dampaknya, risiko baru, dan tindakan yang diambil.

• Report menghubungkan strategic objectives dengan KPI/KRI dan emerging risks.

• Strategic failure dapat menurunkan profitability, memperburuk credit quality, menekan liquidity dan capital.

• Karena itu strategy dan performance adalah bagian inti ERM.

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WEEK 6

PART VI — FIDUCIARY RISK

Risiko kegagalan memenuhi amanah dan melindungi kepentingan pemilik dana secara profesional, transparan, dan adil.

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FIDUCIARY RISK

SNCR vs Fiduciary Risk

Shariah Non-Compliance

• Pertanyaan: apakah transaksi sesuai syariah?

• Fokus pada akad, fatwa, rules dan transaction validity.

• Failure dapat memicu rectification/purification.

Fiduciary Risk

• Pertanyaan: apakah dana dan kepentingan nasabah dikelola secara amanah dan fair?

• Fokus pada professional management, disclosure, fairness dan conflict of interest.

• Failure terutama menghancurkan trust.

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FIDUCIARY RISK

Why Fiduciary Risk Is Central in Islamic Banking

• Bank menerima dana yang pengembaliannya dapat bergantung pada kinerja investasi.

• Investment Account Holders (IAH) mempercayakan keputusan investasi kepada bank.

• Return tidak selalu dijamin; karena itu kualitas pengelolaan, transparency dan fairness menjadi sangat penting.

• Semakin besar discretion bank atas penggunaan dana, semakin besar fiduciary responsibility.

• Fiduciary failure dapat memicu withdrawal, DCR, liquidity pressure dan reputational damage.

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FIDUCIARY RISK

Restricted vs Unrestricted IAH

Restricted IAH

• Pemilik dana menentukan batas penggunaan/investasi.

• Diskresi bank lebih terbatas.

• Bank tetap wajib menjalankan mandate secara profesional dan transparan.

Unrestricted IAH

• Bank memiliki fleksibilitas lebih besar dalam pengelolaan dana.

• Agency/discretion lebih tinggi.

• Fiduciary responsibility dan conflict-of-interest risk meningkat.

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FIDUCIARY RISK

Main Sources of Fiduciary Risk

• Investment management yang tidak prudent.

• Profit allocation/distribution yang salah atau tidak fair.

• Disclosure tidak memadai.

• Fee/cost allocation yang merugikan pemilik dana.

• Conflict of interest antara shareholder, bank dan IAH.

• Governance, competence atau oversight yang lemah.

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FIDUCIARY RISK

Fiduciary Risk Identification

• Pertanyaan utama: adakah kondisi yang membuat nasabah/pemilik dana merasa diperlakukan tidak adil?

• Area: profit distribution, disclosure, product design, fee allocation dan investment management.

• Review customer communication dan suitability of information.

• Identifikasi conflict of interest dan management discretion.

• Gunakan complaints, audit/DPS findings dan unusual withdrawal sebagai signals.

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FIDUCIARY RISK

Fiduciary Risk Assessment

• Sensitivitas nasabah/IAH.

• Tingkat transparency.

• Kualitas governance dan oversight.

• Kompleksitas produk/investment mandate.

• Materialitas dampak.

• Jumlah nasabah dan nilai dana terdampak serta potensi eskalasi reputasi.

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FIDUCIARY RISK

Fiduciary Risk Measurement

• Jumlah complaint terkait profit sharing/transparency.

• Profit-allocation errors.

• Fiduciary audit / DPS findings.

• Abnormal withdrawal dan declining rollover.

• Return gap sebagai signal yang perlu investigasi—bukan bukti tunggal fiduciary failure.

• Corrective-action aging dan repeat issues.

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FIDUCIARY RISK

Fiduciary Risk KRI Dashboard

• Return gap meningkat.

• Complaint profit sharing meningkat.

• Transparency complaints meningkat.

• Profit allocation error muncul/berulang.

• Rollover turun atau withdrawal abnormal.

• Audit/DPS findings meningkat.

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FIDUCIARY RISK

Fiduciary Risk Prevention

• Strong governance dan clear fiduciary responsibilities.

• Transparent disclosure atas akad, mandate, risk, fee dan profit-distribution method.

• Fairness framework untuk allocation antara IAH dan shareholder.

• Strong investment process, due diligence dan mandate compliance.

• Profit allocation governance dan system validation.

• DPS, risk, compliance dan internal audit oversight.

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FIDUCIARY RISK

Fiduciary Risk Mitigation

• Root Cause Analysis: return rendah, disclosure buruk, distribution error atau governance weakness.

• Corrective action pada process, system, governance dan communication.

• Koreksi perhitungan/pembayaran selisih bila bank melakukan kesalahan.

• Compensation sesuai kebijakan dan basis yang sah bila nasabah dirugikan.

• Customer communication yang jelas untuk memulihkan trust.

• Governance enhancement bila akar masalah bersifat struktural.

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FIDUCIARY RISK

Monitoring & Fiduciary Review

• Monitor return gap, complaints, withdrawal/rollover, audit findings, DPS findings dan corrective actions.

• Periodic fiduciary review: profit allocation, fairness, transparency, disclosure dan governance.

• Perhatikan trend, bukan hanya satu angka.

• Escalate material issues karena fiduciary risk dapat memengaruhi funding stability.

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FIDUCIARY RISK

Fiduciary Risk Reporting

• Key indicators dan trend.

• Material complaints dan affected IAH/funds.

• Audit/DPS findings.

• Profit-allocation or disclosure issues.

• Corrective actions dan overdue items.

• Escalation kepada management, risk committee, DPS dan board.

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FIDUCIARY RISK

Fiduciary Risk Connections

1

RORR / Low Return

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2

IAH Dissatisfaction

→

3

Fiduciary Risk

→

4

Reputational Risk

→

5

DCR

→

6

Liquidity Pressure

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FIDUCIARY RISK

Fiduciary Risk in ERM

• SNCR dapat menurunkan trust dan menjadi pemicu fiduciary risk.

• RORR dapat meningkatkan dissatisfaction; fiduciary risk muncul bila pengelolaan/disclosure/fairness dipersepsikan gagal.

• DCR dapat menjadi respons komersial terhadap potensi withdrawal.

• Governance menjadi penghubung SNCR, fiduciary, reputational dan DCR.

• ERM harus melindungi bukan hanya bank dan shareholder, tetapi juga kepentingan IAH.

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WEEK 6

INTEGRATED WEEK 6 VIEW

Enam risiko ini sering membentuk satu risk cascade—dari kegagalan proses sampai hilangnya kepercayaan.

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INTEGRATED ERM

A Typical Risk Cascade

1

Process Failure

→

2

Compliance / SNCR

→

3

Legal / Customer Issue

→

4

Fiduciary & Reputation

→

5

Strategic / Funding Pressure

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WEEK 6

How to Distinguish the Six Risks

• Operational: apakah people/process/system/external event gagal?

• Compliance: apakah regulasi/kebijakan tidak dipatuhi?

• SNCR: apakah prinsip/aturan syariah dilanggar?

• Legal: apakah hak/kewajiban sulit ditegakkan secara hukum?

• Strategic: apakah pilihan/implementasi strategi menghambat tujuan?

• Fiduciary: apakah amanah, fairness, transparency atau kepentingan pemilik dana gagal dijaga?

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WEEK 6

Week 6 — Final Management Framework

• IDENTIFY: sources, process, obligations, contracts, shariah rules, strategic assumptions dan fiduciary duties.

• ASSESS: likelihood, impact, materiality, complexity, control quality dan stakeholder sensitivity.

• MEASURE: loss data, KRI, findings, exceptions, disputes, strategic KPI dan fiduciary indicators.

• PREVENT: governance, design, due diligence, controls, training, systems dan disclosure.

• MITIGATE: contain, rectify, remediate, compensate/restructure bila relevan, dan strengthen governance.

• MONITOR & REPORT: trend, EWI, action plan, escalation, board/DPS oversight dan ERM integration.

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