Business English Tasks

Hello, On this occasion I will review the company I expect to work there. OJK is an institution that I hope can work there. The Financial Services Authority (OJK) is one of the state institutions based on Law Number 21 Year 2011 which is in charge of establishing a system of integrated supervision and supervision for all activities in the financial services sector. Meanwhile, according to wikipedia OJK is an independent body and free from interference of others, which has the functions, duties, and authority of arrangement, supervision, inspection and investigation. . OJK was established to replace the role of Bapepam-LK in regulating and overseeing capital markets and financial institutions, and replacing the role of Bank Indonesia in regulating and supervising banks, and protecting consumers from the financial services industry.

The Financial Services Authority was established with the aim that all activities in the financial services sector:

1.      held regularly, fairly, transparently and accountably;

2.      able to realize a sustainable and stable financial system; and

3.      able to protect the interests of consumers and society.

OJK carries out regulatory and supervisory duties on:

1.      financial services activities in banking and non banking sector.

2.      financial services activities in the capital market sector; and

3.      financial services activities in the insurance sector, pension funds, financial institutions, and other financial services institutions.

To perform the regulatory tasks, OJK has the authority:

1.      to stipulate the rules for the enforcement of this Law;

2.      establishing legislation in the financial services sector;

3.      establishing OJK rules and decisions;

4.      establishing regulations on oversight in the financial services sector;

5.      establishing policies on the implementation of OJK duties;

6.      to stipulate rules on the procedures for stipulating written orders to Financial Services Institutions and certain parties;

7.      to stipulate regulations on the procedures for the stipulation of statutory management of the Financial Services Institution;

8.      establishing organizational and infrastructure structures, and managing, maintaining and administering property and liabilities; and

9.      to stipulate regulations on the procedure for the imposition of sanctions in accordance with the provisions of legislation in the financial services sector.

To carry out supervisory duties, OJK has the authority:

1.      establishing an operational oversight policy on financial services activities;

2.      supervise the execution of supervisory duties undertaken by the Chief Executive;

3.      conduct supervision, inspection, investigation, consumer protection, and other actions against Financial Services Institution, actor, and / or supporter of financial service activity as referred to in legislation in the field of financial services;

4.      giving written orders to the Financial Services Institution and / or certain parties;

5.      appoint statut management;

6.      Determine the use of statuter managers;

7.      impose administrative sanctions against persons who violate the laws and regulations of the financial services sector; and

8.      giving and / or canceling:

1)      business permit;

2)      individual permits;

3)      effective registration statement;

4)      registered letter mark;

5)      approval to perform the activities

6)      business;

7)      Support;

8)      approval or determination of dissolution; and

o   Other provisions, as defined in the laws and regulations of the financial services sector.approval or determination of dissolution; and

 source

1. https://id.wikipedia.org/wiki/Otoritas_Jasa_Keuangan

2. https://www.linkedin.com/company/otoritas-jasa-keuangan