ASSESSING THE IMPLEMENTATION AND MATURITY LEVEL OF COSO-BASED ENTERPRISE RISK MANAGEMENT: CASE STUDY IN TELCO’S INTERNATIONAL DIVISON IN INDONESIA (TID)
Journal Title: Asian Journal of Management Sciences and Education - Year 2018, Vol 7, Issue 4
Abstract
The international business development program conducted by TID in 2007-2014 has spawned 10 subsidiaries in 10 different countries. The establishment of each subsidiary is conducted through business feasibility review, which projects future benefits for the growth of the group's performance. But as with any business potential in general, the international strategic business development program has its own business risk. The strategy implemented by management in the development of each subsidiary is adjusted to the environmental conditions of each entity. The success of the strategy implementation must be supported by the performance of all organizational units in TID including the company's unit which in charge for risk management. The purpose of this study is to explore the alignment of the implementation of risk management in TID with the objectives of the company. Furthermore, the author assessed the maturity level of risk management implementation using Risk Maturity model published by RIMS. This study is a qualitative research with data collection conducted through literature study and interview to risk management unit in TID related to risk management implementation during year 2017-2018. The results of data analysis indicate that the implementation of risk management in TID had been conducted in accordance with the guidelines of COSO’s Enterprise Risk Management framework, and inline with the strategic objectives of the company. Using the Risk Maturity model of RIMS, the author concludes that the maturity level of risk management implementation in TID has almost reached the Managed level (referring to the definition of RIMS). It indicates that in general the implementation of risk management in TID has been implemented adequately.
Authors and Affiliations
I Made Surya Wirawan
Keywords
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