Governance structure of Clipan Finance is based on Law No. 40/2007 on Limited Liability Companies, corporate organization structure consists of General Meeting of Shareholders (GMS) as the ultimate decision maker, the Board of Commissioners, and the Board of Directors. Functions of each position in the Company’s structure carried out in accordance with the statutory provisions, the Company’s Articles of Association, and other provisions in force based on the principle that each Company’s Organ has independency in carrying out their duties, functions and responsibilities for completely the Company’s interest.
The implementation of the functions of each Company’s Organs must be in accordance with the GCG implementation mechanism which is generally shown as follows:
- General Meeting of Shareholders (GMS) : Key decision makers, especially matters related tothe Company’s capital and management.
- Board of Commissioners: Monitorings and provides options and advices for the Board of Directors on the Company’s management.
- Board of Directors: has full authority and responsibility for managing the Company.
- Supporting committee :
- Committees under Board of Commissioner, this organ has collective duties and responsibilities to help the Board of Commissioner in performing supervisory and advisory functions to the Board of Directors, :
- Audit Committee : The Audit Committee has a function to assist the Company’s Board of Commissioners in monitoring and providing advices for the Company’s Board of Directors in implementing the corporate governance.
- Risk Monitoring Committee : The Risk Monitoring Committee serves to assist the Board of Commissioners to ensure that good corporate governance, completed with risk management implementation, has been applied by the Company. The Risk Monitoring Committee is responsible for the internal control system that supervises the risk identification, evaluation and management process faced by the Company.
- Nomination and Remuneration committee : The Nomination and Remuneration Committee’s duties is to assist the execution of the Board of Commissioners’ tasks related to the nomination process of member of the Board of Commissioners Board of Directors and the remuneration process of the Board of Commissioners and Board of Directors in accordance with applicable provision. In addition, the Nomination and Remuneration Committee is responsible for helping the execution of the Board of Commissioners’ task related to the monitoring the human resources management.
- Committees under Board of Director, this organ has collective duties and responsibilities to support duties and responsibilities implementation of Board of Director
- Risk Management Committee : in order to contribute in decision-making by considering the uncertainty and its impact for the Company’s strategic objectives achievement. In addition, The Company’s Risk Management Committee has a function to monitor the financing approval process and supporting the supervisory role of senior operational management. This committee explores financing application data, payment ability, the financing type and the applicant’s credit history.
- Credit Committee : has a function to make a correction, improvement and simplification of financing processes and procedures
- Corporate Governance Committee : to encourage shareholders, members of the Board of Commissioners and Board of Directors, in decision-making and action, to apply high moral values and adherence to all applicable laws and regulations, as well as awareness of the Company's social duties to Stakeholders.
- Know Your Customer Special Unit : to anticipate and prevent the occurrence of money laundering practices through the Company as a financing company.