Board of Management Committees

The Board of Commissioners established an Audit Committee, which aims to assist the Board of Commissioners in carrying out the duties and functions of the Company’s supervision. The Audit Committee is responsible to the Board of Commissioners by providing independent opinions on matters that require the attention of the Board of Commissioners following GCG principles and applicable laws and regulations.

Basis for Establishing the Audit Committee

The establishment of the Audit Committee has been regulated in:

1. Financial Services Authority Regulation Number 55/ POJK.04/2015 dated 23 December 2015 concerning the Establishment and Guidelines for Implementing the Work of the Audit Committee.
2. Financial Services Authority Regulation Number 56/ POJK.04/2015 dated 23 December 2015 concerning the Establishment and Guidelines for Preparing the Internal Audit Unit Charter.
3. Financial Services Authority Regulation Number 46/POJK.03/2017 dated 12 July 2017 concerning Implementation of Commercial Bank Compliance Functions.
4. Financial Services Authority Regulation Number 1/ POJK.03/2019 dated 28 January 2019 concerning the Internal Audit Function in Commercial Banks.
5. Financial Services Authority Regulation Number 9 of 2023 concerning the Use of Public Accounting Services and Public Accounting Firms in Financial Services Activities.
6. Financial Services Authority Regulation Number 17 of 2023 concerning Implementation of Governance for Commercial Banks.
7. Regulation of the Minister of BUMN RI Number: PER01/MBU/2011 dated 01 August 2011 concerning the Implementation of Good Corporate Governance in StateOwned Enterprises.
8. Regulation of the Minister of State-Owned Enterprises Number PER-1/MBU/03/2023 concerning Special Assignments and Social and Environmental Responsibility Programs for State-Owned Enterprises.
9. Regulation of the Minister of BUMN RI Number: PER-2/ MBU/03/2023 concerning Guidelines for Governance and Significant Corporate Activities of State-Owned Enterprises.
10. Regulation of the Minister of BUMN RI Number: PER-3/ MBU/03/2023 concerning Organs and Human Resources of State-Owned Enterprises.
11. Decree of the Deputy for Finance and Risk Management of the Ministry of State-Owned Enterprises of the Republic of Indonesia Number SK-3/DKU. MBU/05/2023 concerning Technical Instructions for the Composition and Qualification of Risk Management Organs within State-Owned Enterprises.
12. Decree of the Deputy for Finance and Risk Management of the Ministry of State-Owned Enterprises of the Republic of Indonesia Number SK-6/DKU.MBU/10/2023 concerning Technical Instructions for Risk Management and Aggregation Processes in the Portfolio Risk Taxonomy of State-Owned Enterprises.
13. Decree of the Deputy for Finance and Risk Management of the Ministry of State-Owned Enterprises of the Republic of Indonesia Number SK-7/DKU.MBU/10/2023 concerning Technical Instructions for Reporting Risk Management of State-Owned Enterprises.
14. Joint Decree of the Board of Commissioners and Directors Number: 02-KOM/BRI/02/2020 and Nokep: 01-DIR/ KPT/02/2020 concerning Good Corporate Governance Policy of PT Bank Rakyat Indonesia (Persero) Tbk.
15. Directors’ Decree Number KU. 02 -DIR/KEP/10/2023 concerning General Corporate Governance Policy of PT Bank Rakyat Indonesia (Persero) Tbk.
16. Articles of Association of PT Bank Rakyat Indonesia (Persero) Tbk and its amendments.

Duties and Responsibilities of The Audit Committee

The Audit Committee duties and responsibilities to assist the Board of Commissioners are as follows:

1. Reviewing the company’s financial information to the public and/or authorities, including financial statements, projections, and other reports related to the Company’s financial information.
2. Conduct a review of compliance with laws and regulations related to the Company’s activities.
3. Provide an independent opinion in the event of a difference of opinion between management and the Accountant for the services provided.
4. Provide recommendations to the Board of Commissioners regarding the appointment of an Accountant based on independence, scope of assignment, and compensation for services.
5. Review the implementation of inspections by the internal auditors and overseeing the implementation of followup actions by the Board of Directors on the findings of the internal auditors.
6. Review the risk management implementation activities carried out by the Board of Directors, if the Company does not have a risk monitoring function under the Board of Commissioners.
7. Examine complaints related to the Company’s accounting and financial reporting processes.
8. Review and provide advice to the Board of Commissioners regarding the potential conflict of interest of the Company.
9. Maintain the confidentiality of the Company’s documents, data and information.

The Audit Committee acted independently in carrying out its duties and responsibilities to assist the Board of Commissioners in carrying out the Company’s oversight function with regard to:

Financial statements

1. Reviewing the company’s financial information to the public and/ or authorities, including financial statements, projections, and other reports related to the Company’s financial information.
2. Conduct a joint review with Management, The Internal Audit Business Unit and Public Accountants, KAP or the Audit Team from KAP on the audit results, including the difficulties encountered.
3. Provide an independent opinion in the event of a difference of opinion between management and the Public Accountant, KAP, or Audit Team of the KAP on the services provided.
4. Review the annual report to ensure the information’s adequacy, consistency, and accuracy.

Internal Audit Unit (SKAI)

1. Monitor and review the effectiveness of the implementation of the Company’s internal audit.
2. Evaluate Internal Audit Business Unit performance.
3. Ensure that Internal Audit Business Unit communicates with the Board of Directors, Board of Commissioners, Sharia Supervisory Board, External Auditors, and the Financial Services Authority.
4. Ensure Internal Audit Business Unit to work independently.
5. Provide recommendations to the Board of Commissioners regarding the preparation of the annual audit plan, scope and Internal Audit Business Unit budget.
6. Conduct reviews and provide recommendations to the Board of Commissioners as material for consideration in granting approval of the Internal Audit Charter.
7. Provide recommendations to the Board of Commissioners as material for consideration in granting approval for the appointment of an independent quality controller from an external party to review the performance of Internal Audit Business Unit.
8. Review audit reports and ensuring that the Board of Directors takes the necessary corrective actions quickly to address control weaknesses, fraud, compliance issues with policies, laws and regulations, or other problems identified and reported by Internal Audit Business Unit.
9. Provide recommendations to the Board of Commissioners regarding the provision of The Internal Audit Business Unit overall annual remuneration and performance awards.
10. Ensure that Internal Audit Business Unit upholds integrity in carrying out its duties.
11. Provide recommendations to the Board of Commissioners as material for consideration in granting approval for the appointment and dismissal of the Head of Internal Audit Business Unit.
12. Reviewing the Company’s Report to the Financial Services Authority regarding the implementation of the Internal Audit function.
13. Reviewing each The Internal Audit Business Unit report submitted to the Board of Commissioners c.q. The Audit Committee includes any reports regarding deviations submitted to the Board of Directors
14. Reviewing the implementation of the inspection by IAU and supervising the implementation of follow-up by the Board of Directors on the findings of the Internal Auditor.
15. Conduct coordination and technical meetings with the Audit Committee and Subsidiary Company management in the context of integrated governance supervision.

Independent Auditors

1. Providing recommendation on the appointment of a Public Accountant and/or Firm that will provide audit services to the annual financial information, to the Board of Commissioners to be submitted to the GMS, taking into account the independence, scope of the assignment, and services fee.
2. Providing recommendation to the Board of Commissioners, to be proposed to the GMS, in the case of the Public Accountant and/or Public Accountant Firm decided by the GMS as referred to in point 1) cannot meet the audit services on annual financial information during the Professional Assignment Period, the appointment of a replacement of Public Accountant and/or Public Accountant Firm may be conducted by the Board of Commissioners with due regard to the Audit Committee’s recommendation.
3. In the event that the Audit Committee cannot recommend Public Accountant and/or Public Accountant Firm that will provide audit services to annual financial information to the Board of Commissioners prior to the GMS as referred to in point 1), the Audit Committee shall recommend delegation of authority to appoint Public Accountant and/ or Public Accountant Firm to the Board of Commissioners, with explanation about:
   1. The reason for the delegation of authority; and
   2. Criteria or limitations to the appointed Public Accountant/Public Accountant Firm.
4. In preparing the recommendations as referred to in point 1), the Audit Committee shall consider:
   1. Independence of Public Accountant, Public Accountant Firm, and person in Public Accountant Firm;
   2. The scope of the audit;
   3. Audit services fee;
   4. Expertise and experience of Public Accountant, Public Accountant Firm, and Audit Team of the Public Accountant Firm;
   5. The methodology, techniques, and audit facilities used by the Firm;
   6. Benefits of fresh eye perspectives that will be obtained through the replacement of Public Accountant, Public Accountant Firm, and Audit Team of the Public Accountant Firm;
   7. Potential risks for the use of same audit services (Public Accountant Firm) continuously for a sufficient period of time; and/or
   8. The results of the evaluation of the implementation of the provision of audit services on annual historical financial information by Public Accountants and Public Accountants in the previous period.
5. Submit the recommendations of the Audit Committee in the appointment of Public Accountant and/or Public Accountant Firm to the Board of Directors of PT Bank Rakyat Indonesia (Persero) Tbk. and/ or DPLK Executive Board to be used as appendix of Public Accountant and/or Public Accountant Firm Appointment Report to the Financial Services Authority.
6. Propose to terminate a Public Accountant, Public Accountant Firm, or Public Accountant Firm Audit Team, if in performing their duties, the Auditor does not meet the applicable standards and regulations.
7. Reviewing prospective Public Accountants, or the Audit Team from KAP who will conduct a general audit of the consolidated financial statements of subsidiaries. to the Company’s consolidated financial statements. KAP for the consolidated subsidiary is appointed and determined by the relevant subsidiary in accordance with the provisions of its articles of association but must be consulted with the Audit Committee to assess aspects of independence, expertise and scope of assignment of prospective Public Accountants, KAP, or Audit Team from KAP and audit supervision. run by the Audit Committee.
8. Provide pre-approval for non-assurance services assigned to KAP, the Company’s independent auditor.
9. Evaluate the implementation of audit services for annual financial information by Public Accountant, Public Accountant Firm, or Public Accountant Firm Audit Team, at least through:
   1. Compliance with audit conducted by Public Accountant, Public Accountant Firm, or Public Accountant Firm Audit Team with applicable audit standards;
   2. Adequacy of fieldwork time;
   3. Assessment of the scope of services provided and the adequacy of the quotation;
   4. Recommendations for improvements provided by the Public Accountant and/ or Public Accountant Firm; and
   5. Others.
10. Submit the Audit Committee Evaluation Result Report as referred to in number 9) to the OJK through the BRI Board of Directors and/ or BRI DPLK Management.

Compliance

1. Monitor the effectiveness of policies and review and recommend improvements to fraud reports related to financial reporting (fraudulent financial reporting risks) that have been prepared and implemented by the Board of Directors.
2. Review compliance with laws and regulations relating to the Company’s activities.
3. Evaluate and analyze the implementation of the Company’s Compliance Function at least semi-annually and provide suggestions and/or recommendations to the Board of Commissioners to improve the quality of implementation of the Company’s Compliance Function.

Complaints (Whistleblowing System)

Whistleblowing System Management Unit in The Audit Committee has authority and responsibility, as follows:

1. Receive and document all reports of indications of violations in the category of violations of BRI’s accounting processes and financial reports and indications of violations committed by the BRI Board of Commissioners, Members of the BRI Board of Directors, SEVP and Members of the Board of Commissioners/Directors of Subsidiaries originating from the Whistleblowing System application.
2. Receive and follow up on reports from the The Internal Audit Business Unit Whistleblowing System Management Unit with criteria for indications of violations of BRI’s accounting processes and financial reports and indications of violations committed by the BRI Board of Commissioners, BRI Board of Directors Members, SEVP and Members of the Board of Commissioners/Directors of Subsidiaries.
3. Whistleblowing System Management Unit The Audit Committee (Members and Leaders of the Whistleblowing System Management Unit Audit Committee) carries out verification and validation together with the Board of Commissioners regarding the Whistleblowing System reports received, as well as grouping the Whistleblowing System reports received, as well as grouping Whistleblowing System reports which include communication. with the reporter to collect additional evidence/documents regarding the report.
4. The Whistleblowing System Management Unit, the Audit Committee, submits a request for approval for the recapitulation of the Whistleblowing System report for the Corruption Crime category to the Board of Commissioners every month for subsequent reporting to the Corruption Eradication Commission via the Whistleblowing System Application.
5. Updating information on the Whistleblowing System application, including categories of indications of violations and reporting facilities if they do not comply with the Whistleblowing System report criteria as well as the progress status of follow-up reports whenever there is a change in status.
6. Appoint an Investigation Business Unit/Independent Party to examine reports indicating violations.
7. Submit reports and recommendations on the results of investigations by the Investigation Business Unit/ Independent Party to the Authorized Business Unit for followup.
8. Ensure that the results of the Investigation Business Unit/ Independent Party recommendations have been followed up according to the set time targets.
9. Update the Whistleblowing System application for every Whistleblowing System report that has been followed up.
10. Submit monthly Whistleblowing System recapitulation reports to the Board of Commissioners.
11. Manage all Whistleblowing System follow-up documents in the Whistleblowing System application.
12. Manage audit results reports from the Investment Business Unit and update report data in the Whistleblowing System application.
13. Maintain the confidentiality of all reporting identity information, information indicating violations and investigation results reports.

Subsidiaries

1. Monitor and evaluate the suitability of the implementation of financial policies and the Internal Audit of parent and subsidiary SOEs.
2. Monitor and evaluate the appropriateness of BRI’s internal audit implementation and subsidiary internal audit policies.
3. Oversight of the general audit implementation of the financial statements of subsidiaries.
4. Review the adequacy of internal control of subsidiaries and financial conglomerates.

Others

1. Reviewing and providing advice to the Board of Commissioners related to potential conflicts of interest of the Bank.
2. Maintaining confidentiality of documents, data, and information of the Bank.
3. Carrying out the assignment as requested by the Commissioner

Audit Committee Charter

The Company’s Audit Committee Charter is regulated in Decree Nokep: 06-KOM/05/2022 concerning the Audit Committee Charter of PT Bank Rakyat Indonesia (Persero) Tbk. The Audit Committee Charter is a reference for the Audit Committee in carrying out its duties effectively. The Audit Committee Charter is a guideline and work rules for the Audit Committee in carrying out its duties to assist the Board of Commissioners in actively supervising the implementation of GCG principles in the Company.

The contents of the Audit Committee Charter include:

Chapter I	Introduction General Understanding Legal basis
Chapter II	Work Guidelines and Code of Conduct Purpose of Duties and Responsibilities and Authorities Composition Structure and Membership Requirements Code of Ethics Working time Meeting Reporting Work Procedures and Procedures Letters/Documents Follow up on Meeting Results Handling of Complaints or Reports Regarding Alleged Violations Related to Financial Reporting
Chapter III	Closing

Authority of the Audit Committee

The Board of Commissioners grants authority to the Audit Committee within the scope of Audit Committee responsibilities to:

1. Have access to accounting records, supporting data, and all relevant information about the Company related to the duties and functions of the audit committee as long as necessary to carry out its duties.
2. Communicate directly with Employees, including the Board of Directors and parties carrying out internal audit, risk management and Accountant functions regarding the duties and responsibilities of the Audit Committee.
3. Involve independent parties outside the Audit Committee members who are needed to assist in carrying out their duties. (if needed).
4. Provide opinions and recommendations to the Board of Commissioners in order to improve the quality of implementation of the Company’s Compliance Function.
5. Carry out other authorities granted by the Board of Commissioners.

Audit Committee Term of Office

The term of office of members of the Audit Committee may not be longer than the term of office of the Board of Commissioners as regulated in the Company’s Articles of Association and can only be re-elected for 1 (one) subsequent period, without reducing the right of the Board of Commissioners to dismiss them at any time.

Audit Committee Structure, Membership and Expertise

The Audit Committee was under the coordination of the Board of Commissioners and was structurally responsible to the Board of Commissioners. The Audit Committee was chaired by an Independent Commissioner. Members of the Audit Committee consist of at least 3 (three) people, namely:

1. An Independent Commissioner
2. An Independent Party with expertise in accounting and finance
3. An Independent Party with expertise in law or banking

Structure, membership and expertise of the Audit Committee can be seen in the table below.

Period January 1, 2023 – October 2, 2023

Periode October 3, 2023 – December 31, 2023

The Board of Commissioners establishes the Nomination and Remuneration Committee which aims to formulate policies and assist in the implementation of the functions and duties of the nomination and remuneration of members of the Board of Commissioners and Directors in accordance with applicable laws and regulations and the principles of Good Corporate Governance. The appointment and dismissal of members of the Nomination and Remuneration Committee is carried out by the Board of Commissioners.

Basis for Establishing The Nomination and Remuneration Committee

1. Law of the Republic of Indonesia No. 7 of 1992 concerning Banking as amended by the Law of the Republic of Indonesia No. 10 of 1998.
2. Law of the Republic of Indonesia No. 40 of 2007 on the Limited Liability Companies.
3. Law of the Republic of Indonesia No. 19 of 2003 on the StateOwned Enterprises.
4. Financial Services Authority Regulation no. 33/POJK.04/2014 dated 08 December 2014 concerning Directors and Board of Commissioners of Issuers or Public Companies.
5. Financial Services Authority Regulation no. 34/POJK.04/2014 dated 08 December 2014 concerning the Nomination and Remuneration Committee of Issuers or Public Companies.
6. Financial Services Authority Regulation no. 45/POJK.03/2015 concerning Implementation of Governance in Providing Remuneration for Commercial Banks.
7. Financial Services Authority Regulation No.17 of 2023 concerning Implementation of Governance for Commercial Banks.
8. Financial Services Authority Circular No. 40/SEOJK.03/2016 concerning Implementation of Governance in Providing Remuneration for Commercial Banks.
9. Minister of State-Owned Enterprises Regulation No. PER-2/ MBU/03/2023 dated March 3 2023 concerning Guidelines for Governance and Significant Corporate Activities of StateOwned Enterprises.
10. BUMN Ministerial Regulation No. PER-3/MBU/03/2023 dated 20 March 2023 concerning Organs and Human Resources of State-Owned Enterprises.
11. Articles of Association of PT Bank Rakyat Indonesia (Persero) Tbk and its amendments.

Nomination and Remuneration Committee Charter

The Nomination and Remuneration Committee Charter has been reviewed and approved by the Board of Commissioners through the Board of Commissioners Decree No: B.13-KOM/1/2018 dated 01 November 2018 concerning the Charter of the Board of Commissioners and Supporting Organs of the Board of Commissioners of PT Bank Rakyat Indonesia (Persero) Tbk, which regulates including:

1. General Understanding
2. Legal Basis
3. Purpose of Committee Establishment
4. Duties and Responsibilities
5. Obligations, Prohibitions and Authorities
6. Committee Position
7. Committee Member
8. Ethics and Working Time
9. Implementation of Meetings and Reports
10. Closing

Appointment and Termination of The Nomination and Remuneration Committee

The Nomination and Remuneration Committee is appointed and dismissed by and is responsible to the Board of Commissioners. During 2023, the positions of Chairman and Members of the Nomination and Remuneration Committee were determined through a Decree as follows:

1. Directors Decree Nokep: 1505-DIR/HCB/09/2022 dated September 7, 2022 concerning the Determination of the Chair and Members of the Nomination and Remuneration Committee of PT Bank Rakyat Indonesia (Persero) Tbk.
2. Board of Directors Decree Nokep: 0637-DIR/HCB/07/2023 dated July 4, 2023 concerning the Determination of the Chair and Members of the Nomination and Remuneration Committee of PT Bank Rakyat Indonesia (Persero) Tbk.

Duties and Responsibilities of The Nomination and Remuneration Committee

Nomination Function

1. Prepare and provide recommendations regarding the system and procedure for selecting and/or replacing members of the Board of Commissioners and Board of Directors to the Board of Commissioners to be submitted to the General Meeting of Shareholders.
2. Provide recommendations to the Board of Commissioners regarding:
   1. Composition of the positions of members of the Board of Directors and/or members of the Board of Commissioners;
   2. Policies and criteria required in the Nomination process; and
   3. Performance evaluation policies for members of the Board of Directors and/or members of the Board of Commissioners;
3. Assist the Board of Commissioners in assessing the performance of members of the Board of Directors and/ or members of the Board of Commissioners based on the benchmarks prepared as evaluation material.
4. Provide recommendations to the Board of Commissioners regarding the capacity building program for members of the Board of Directors and/or members of the Board of Commissioners.
5. Provide recommendations or propose candidates who meet the requirements as members of the Board of Directors and/ or members of the Board of Commissioners to be submitted to the GMS.
6. Provide recommendations to the Board of Commissioners regarding the Candidate Representative of the Company who will be appointed as Management of the Subsidiary Company proposed by the Board of Directors.
7. Provide recommendations to the Board of Commissioners regarding the Independent Party who will become a member of the Committee under the Board of Commissioners.

Remuneration Function

1. Provide recommendations to the Board of Commissioners regarding the structure, policies, and amount of Remuneration for members of the Board of Directors and/or members of the Board of Commissioners.
2. Provide recommendations to the Board of Commissioners regarding evaluating the remuneration policy for members of the Board of Directors and/or members of the Board of Commissioners to be submitted to the General Meeting of Shareholders.
3. Provide recommendations to the Board of Commissioners regarding evaluating the remuneration policy for Executive Officers and employees as a whole to be submitted to the Board of Directors.
4. Assist the Board of Commissioners in aligning the performance assessment of the Board of Directors and Board of Commissioners with the remuneration received by each member of the Board of Directors and/or members of the Board of Commissioners.

Authority of The Nomination and Remuneration Committee

The Board of Commissioners authorizes the Committee within the scope of the Committee’s responsibilities to request relevant information relating to the implementation of the Nomination and remuneration functions as well as employment policies and other functions in human resource management from internal parties.

Nomination and Remuneration Committee Term of Office

The term of office for members of the Nomination and Remuneration Committee may not be longer than the term of office of the Board of Commissioners as stipulated in the Company’s Articles of Association and may be re-elected only for the next 1 (one) period, without reducing the right of the Board of Commissioners to dismiss at any time.

Structure, Membership and Expertise of The Nomination and Remuneration Committee

The structure of the BRI Nomination and Remuneration Committee is as follows:

1. The Committee was under the coordination of the Board of Commissioners and is structurally responsible to the Board of Commissioners;
2. The Committee was chaired by an Independent Commissioner;
3. Members of the Committee consisted of at least 3 (three) people consisting of an Independent Commissioner as chairman and concurrently member, a Commissioner, and an Executive Officer one level below the Board of Directors handling HR policies (ex officio) or a representative of the Company’s employees, other members might come from parties outside the Company;
4. In the event that more than 3 (three) members of the Committee were appointed, the members of the Independent Commissioner should be at least 2 (two) persons;
5. The Board of Commissioners might appoint an Independent Party as a member of the Committee, provided that:
   1. Had to meet the following requirements:
      1. did not have affiliation with the Company, members of the Board of Directors, members of the Board of Commissioners, or the Company’s Major Shareholders;
      2. owned experience related to Nomination and/or Remuneration; and
      3. did not hold concurrent positions as members of other committees owned by the Company.
   2. Elected by the Board of Commissioners through a recruitment and selection mechanism.
   3. The maximum working period was 2 (two) years and could be extended again for the next working period by considering the tenure of the Board of Commissioners and the applicable contract workers regulations in the Company, without closing the possibility of being dismissed by the Board of Commissioners before the end of the contract period.
6. Members of the Board of Directors were prohibited from being members of the Committee;
7. Committee members were appointed by the Board of Directors based on the decision of the Board of Commissioners meeting;
8. Committee members were appointed for a certain term of office and might be reappointed;
9. The term of office of members was not longer than the term of office of the Board of Commissioners as stipulated in the articles of association.
10. The replacement of members who were not from the Board of Commissioners wes carried out no later than 60 (sixty) days after the said Committee member was no longer able to carry out his functions.

The composition of the Nomination and Remuneration Committee members in 2023 is as follows:

Composition of Committee Members for the Period 1 January 2023 to 13 March 2023

Composition of Committee Members for the Period 14 March 2023 to 3 July 2023

Composition of Committee Members for the Period 4 July 2023 to 31 December 2023

The Risk Management Monitoring Committee (RMOC) is one of the Committees under the Board of Commissioners whose duties and responsibilities are to assist the Board of Commissioners in carrying out evaluations and ensuring the implementation of risk management in the Company.

Basis Establishing of Risk Management Monitoring Committee

1. OJK Regulation no. 17/POJK.03/2014 dated 18 November 2014 concerning the Implementation of Integrated Risk Management for Financial Conglomerates.
2. Financial Services Authority Regulation (POJK) Number 17 of 2023 dated 14 September 2023 concerning Implementation of Governance for Commercial Banks.
3. Minister of State-Owned Enterprises Regulation No. PER-2/ MBU/03/2023 dated March 3 2023 concerning Guidelines for Governance and Significant Corporate Activities of State-Owned Enterprises.
4. Minister of State-Owned Enterprises Regulation No. PER3/MBU/03/2023 dated 20 March 2023 concerning Organs and Human Resources of State-Owned Enterprises.
5. Articles of Association of PT Bank Rakyat Indonesia (Persero) Tbk. along with the changes.

Risk Management Monitoring Committee Charter

The Risk Management Monitoring Committee (RMOC) has the Charter, as outlined in the Decree of the Board of Commissioners Number 12-KOM/11/2018 dated November 1, 2018 that regulates:

1. Duties, powers, obligations, and responsibilities.
2. Division of labor.
3. Time and work ethic.
4. Committee Meetings.
5. Organizational structure and implementation of tasks related to The Risk Management Monitoring Committee (RMOC).

Duties and Responsibilities of Risk Management Monitoring Committee

The Risk Management Monitoring Committee supports the Board of Commissioners in fulfilling its duties of evaluating and ensuring the Company’s risk management procedures and methodologies are adequate. This ensures that the Company’s activities are controlled within acceptable risk limits and remain profitable.

The Risk Management Monitoring Committee duties and responsibilities are as follow:

1. Periodically review and analyze risk management policy, providing recommendations to the Board of Commissioners for adjusting and improving the risk management framework and approach.
2. Evaluate and analyze the company’s quarterly risk profile report, and provide advice and recommendations to the Board of Commissioners for necessary enhancements and improvements.
3. Monitor and evaluate the adequacy of the identification, measurement, monitoring, control, and risk management information system of the Company and provide advice and recommendations to the Board of Commissioners to improve the effectiveness and quality of the Company’s risk management implementation.
4. Evaluate and analyze the Risk Management Business Unit’s duties annually and suggest improvements to the Board of Commissioners.
5. Evaluate and analyze the implementation of risk control for the Company’s fraud at least once per semester. Provide suggestions and recommendations to the Board of Commissioners to improve the implementation of the Company’s Anti-Fraud Strategy.
6. Evaluate and analyze the implementation of the Company’s Anti-Money Laundering and Prevention of Terrorism Financing (AML-CFT) Program at least semi-annually and provide suggestions and recommendations to the Board of Commissioners to improve the quality of implementation of the Company’s Anti-Money Laundering Program.
7. Evaluate and analyze the implementation of risk management in the use of Information Technology Plans, Strategic Information Technology, and Company policies related to the use of Information Technology, and provide advice and recommendations to the Board of Commissioners regarding the implementation of risk management in the use of Technology Information by the Company.
8. Evaluate and analyze the Bank’s Health Level at least semiannually and provide suggestions and recommendations to the Board of Commissioners to maintain the Bank’s Soundness Level.
9. Evaluate and analyze documents for providing funds for related parties proposed by the Board of Directors, which require approval from the Board of Commissioners.
10. Provide opinions and recommendations regarding granting credit above a certain amount that requires consultation with the Board of Commissioners.
11. Carry out other duties and responsibilities are assigned by the Board of Commissioners.

Authority of Risk Management Monitoring Committee

The authority of the Risk Management Monitoring Committee is as follows:

1. Obtain relevant information related to duties implementation from the Company’s internal and or external parties.
2. Obtain inputs or recommendations from external parties related to its duties.
3. Provide opinions and recommendations to the Board of Commissioners for the improvement of risk management in the Company.
4. Provide opinions and recommendations to the Board of Commissioners for the improvement of effectiveness of Risk Management Unit.
5. Provide opinions and recommendations to the Board of Commissioners for the improvement of Compliance Function implementation quality
6. Provide opinions and recommendations to the Board of Commissioners for the improvement of Anti-Fraud Strategy implementation quality.
7. Provide opinions and recommendations to the Board of Commissioners for the improvement of Anti Money Laundering and Counter Terrorism Financing Programs implementation quality in the company.
8. Provide opinions and recommendations to the Board of Commissioners on risk management practices in the use of Information Technology.
9. Provide opinions and recommendations to the Board of Commissioners in order to maintain and increase the Bank Soundness Rating.

Term of Office of the Risk Management Monitoring Committee

The term of office of members of the Risk Management Monitoring Committee may not be longer than the term of office of the Board of Commissioners as stipulated in the Company’s Articles of Association and may be re-elected only for the next 1 (one) period, does not reduce the right of the Board of Commissioners to dismiss at any time.

Structure, Membership and Expertise of The Risk Management Monitoring Committee

Composition of Committee Members for the Period 1 January 2023 – 03 July 2023

Composition of Committee Members for the Period 04 July 2023 – 02 October 2023

Composition of Committee Members for the Period 03 October 2023 - Present

The Integrated Governance Committee (IGC) is one of the committees that assists the Board of Commissioners and has the duties and responsibilities in evaluating and ensuring that the implementation of governance is in accordance with the principles of GCG in the Company’s financial conglomerates.

Legal Basis of Integrated Governance Committee

1. Financial Services Authority Regulation Number 18/ POJK.03/2014 dated 18 November 2014 concerning the Implementation of Integrated Governance for Financial Conglomerates and
2. Financial Services Authority Regulation Number 17/ POJK.03/2014 dated 19 November 2014 concerning Implementation of Integrated Risk Management for Financial Conglomerates
3. Financial Services Authority Regulation no. 33/POJK.4/2014 dated 8 December 2014 concerning Directors and Board of Commissioners of Issuers or Public Companies
4. Financial Services Authority Regulation (POJK) Number 17 of 2023 dated 14 September 2023 concerning Implementation of Governance for Commercial Banks.
5. OJK Circular Letter Number 014/SEOJK.03/2015 concerning the Implementation of Integrated Risk Management for Financial Conglomerates
6. OJK Circular Letter Number 15/SEOJK.03/2015 concerning the Implementation of Integrated Governance for Financial Conglomerates
7. OJK Circular Letter Number 13/SEOJK.03/2017 dated 17 March 2017 concerning Implementation of Governance for Commercial Banks.
8. Minister of State-Owned Enterprises Regulation No. PER-2/ MBU/03/2023 dated March 3 2023 concerning Guidelines for Governance and Significant Corporate Activities of StateOwned Enterprises
9. Minister of State-Owned Enterprises Regulation No. PER-3/ MBU/03/2023 dated 20 March 2023 concerning Organs and Human Resources of State-Owned Enterprises.
10. Articles of Association of PT. Bank Rakyat Indonesia (Persero) Tbk. along with its changes.

Integrated Governance Committee Charter

The Integrated Governance Committee has a Integrated Governance Committee Charter which was ratified through BRI Board of Commissioners Decree Number 04-KOM/BRI/01/2023 dated January 31 2023. The Integrated Governance Committee Charter is a reference for Integrated Governance in carrying out its duties effectively. The Integrated Governance Committee Charter is a guideline and work rules for the Integrated Governance Committee in carrying out its duties to assist the Board of Commissioners in actively supervising the implementation of governance in accordance with GCG principles in the Company’s financial conglomerate.

The contents of the Integrated Governance Committee Charter include:

Chapter I	Introduction General Definition Legal basis
Chapter II	Work Guidelines and Rules Goals, Duties and Responsibilities, Obligations, Prohibitions and Authorities Organization Goal Duties and Responsibilities Authority Work ethics Organization Work Ethics Working Time Meeting Reports Correspondence Mechanism
Chapter III	Closing

Appointment and Termination

The Integrated Governance Committee is responsible to the Board of Commissioners. The Integrated Governance Committee is appointed and dismissed by the Board of Commissioners. The appointment of the Integrated Governance Committee is stated in Decree Nokep: 11-KOM/BRI/10/2023 dated 03 October 2023 concerning the Membership Composition of the Integrated Governance Committee of PT Bank Rakyat Indonesia (Persero) Tbk.

Duties and Responsibilities of Integrated Governance Committee

The Committee is tasked with assisting the Board of Commissioners in carrying out its supervisory duties with regard to:

1. Oversee the implementation of Integrated Governance in subsidiaries so that it is in line with the risk management policies of the Main Entity and the Integrated Governance Guidelines.
2. Supervise the implementation of the duties and responsibilities of the Main Entity Directors and provide direction or advice to the Main Entity Directors regarding the implementation of Integrated Governance Policies and Guidelines.
3. Evaluate Integrated Governance Policies and Guidelines and direct them for improvement.
4. Evaluate the implementation of the Subsidiary’s Internal Audit so that it is in line with the Main Entity’s Internal Audit Policy.
5. Carry out supervision over the implementation of other Integrated Governance functions in accordance with the provisions of laws and regulations, the articles of association and/or decisions of the General Meeting of Shareholders/ Capital Owners.
6. Provide strategic input to the Board of Commissioners of the Main Entity to be submitted to the Board of Directors of the Main Entity regarding the implementation and improvement of the Integrated Governance Policy.
7. Submit the evaluation results of the Integrated Governance Implementation Assessment Report (Self Assessment) every semester to the Directors of the Main Entity.

Authority of Integrated Governance Committee

The Board of Commissioners grants authority to the Committee within the scope of the Committee’s responsibilities to:

1. Obtain relevant information related to the implementation of their duties from internal and external parties of the Company.
2. Provide opinions and recommendations to the Board of Commissioners of the Main Entity in order to improve the internal control function, compliance function and implementation of integrated risk management.
3. Obtain input regarding the implementation of governance at least including internal control and implementation of compliance functions from members of the financial conglomerate through discussion forums and/or or meetings at the technical level.
4. Communicate with related business unit in the Main Entity for information/clarification related to the Main Entity’s operations and with units that handle Subsidiaries in the Main Entity for information/clarification related to the Subsidiary Entity.
5. Obtain input or suggestions from parties outside the Company related to their duties.
6. Carry out other authorities granted by the Board of Commissioners as long as they do not conflict with the provisions.

Integrated Governance Committee Term of Office

The term of office of members of the Integrated Governance Committee may not be longer than the term of office of the Board of Commissioners as regulated in the Company’s Articles of Association and can only be re-elected for 1 (one) subsequent period, without prejudice to the Board of Commissioners’ right to dismiss them at any time.

Governance Committee Structure, Membership and Expertise Integrated Manage

The Committee is under the coordination of main entity Board of Commissioners and structurally responsible to the Main Entity Board of Commissioners. The Committee is led by Independent Commissioner that serves as Chairman in one of BRI committees. To carry out daily tasks, the Committee could be assisted by the Staff and/or Secretary of the Integrated Governance Committee, who may come from the Bank’s internal and external circles.

Committee Memberships

1. Committee members consist of at least one Commissioner from each member of the BRI financial conglomerate, an independent party and a member of the Sharia Supervisory Board.
2. Members of the Committee shall at least consist of:
   1. An Independent Commissioner from the Main Entity as chairman concurrently a member;
   2. Independent Commissioner of each member of the BRI Financial Conglomerate as a member;
   3. An Independent Party who has expertise according to the needs of the Integrated Governance Committee;
   4. Member of the Sharia Supervisory Board of BRI Syariah as a member;
   5. The number and composition of Independent Commissioners who were members of the Integrated Governance Committee are adjusted to the needs of the Financial Conglomerate and the efficiency and effectiveness of the implementation of the duties of the Integrated Governance Committee by considering at least the representation of each financial services sector.

Composition of Committee Members for the Period 1 January 2023 – 15 February 2023

Composition of Committee Members for the Period 15 February 2023 - 14 March 2023

Composition of Committee Members for the Period 14 March 2023 – 04 July 2023

Composition of Committee Members for the Period 04 July 2023 to 03 October 2023

Composition of Committee Members for the Period 3 October 2023 – 31 December 2023