EVALUATION ON EFFECTIVENESS OF BALANCED SCORECARD IMPLEMENTATION AS PERFORMANCE MANAGEMENT SYSTEM AT INDONESIA FINANCIAL SERVICE AUTHORITY (OJK)

• Main Author: PERMATA SARI (NIM 29115447), KARINA
• Format: Theses
• Language: Indonesia
• Online Access: https://digilib.itb.ac.id/gdl/view/28388
• Institution: Institut Teknologi Bandung

Indonesian Financial Service Authority (OJK) is the independent institution that has the functions, duties, and authority of the regulation, supervision, inspection, and investigation in the financial services sector. In implementing their duties and functions, it required a well-planned strategic planning, which is conducted through OJK MSAK system (Management system of Strategy, Performance, and Budgeting), using BSC approach as their performance management system. Thus, this research aims to evaluate the effectiveness of BSC implementation as OJK performance management system, from that the important factors of BSC implementation at OJK could be discovered. The maturity level of OJK also assessed to see the effectiveness of BSC implementation. The method used in this research is qualitative method through the interview with internal stakeholders from OJK and external stakeholders from financial service sector. Through the analysis of BSC System Performance Evaluation, the important factors of BSC implementation of OJK are discovered from each category. The results show that the overall important factors are commitment, responsibility, core value-based behaviors, facilitation and training, KPI, Strategic objective and strategic initiatives, strategy map, perspectives, vision and mission, contribution, objective alignment, valid and balanced measurement, individual objective alignment, qualified performance measurement and evaluation, incentives and recognition, realistic targets, stakeholder expectations, partner expectation communication, change management, cascading and alignment process, data collection, reporting process, human resources, budgeting process, and strategic planning process. OJK maturity level also assessed through analysis from Strategic Management Maturity Model (SMMM) Framework in each dimension. With the assessment of OJK maturity level in every dimension of SMMM framework, the overall OJK maturity is in Level 4 to 5 in terms of strategic management. With the evaluation of BSC implementation, the reccomendation for future OJK BSC implementation is to enhance their performance based on those succeess factors of BSC implementation and their maturity level in terms of strategic management.