KNOWLEDGE MANAGEMENT APPROACH IN IMPLEMENTING NEW REGULATION REGARDING COVID-19 RESTRUCTURING PROGRAM IN BANK PELITA

• Main Author: Putri Retnosari, Dian
• Format: Theses
• Language: Indonesia
• Online Access: https://digilib.itb.ac.id/gdl/view/63518
• Institution: Institut Teknologi Bandung

The Coronavirus Disease 2019 (COVID-19) pandemic is taking a toll on economies across the world, including in Indonesia. The weakened economic conditions are likely to have implications towards the banking industry. Recognizing this condition, Financial Services Authority (OJK) has released a series of new regulation related to the National Economy Stimulus as a countercyclical policy. This regulation encouraged banks to provide restructuring program for debtors affected by the impact of COVID-19. The regulation provides guidance and limitation in conducting the program for banks. However, given the unprecedented nature of the situation, there are gaps within the regulation and the provision needed to actually implement the program. This issue is aggravated by the current conditions of coordination dan inadequate process in dealing with new regulation and policy in Bank Pelita. The objective of this final project is to identify the root-cause problem of Bank Pelita's high exposure to compliance risk as well as propose knowledge management approach and an implementation plan to resolve the issues in implementing the program. This research conducted using the qualitative method using the data gathered from interview, observation and internal organization document. The proposed solution is expected not only to be implemented for the COVID-19 program but also to implement other new regulations at Bank Pelita. From the research it was also concluded that these issues are not due to improper knowledge identification, but it is more about how the Bank should record every new knowledge and making sure that it is being communicated throughout all business units. In order to resolve these issues, the research suggest to address every problem root-cause with knowledge management initiatives, including a proper repository and controlling mechanism, and formulizing it into an effective knowledge stock and flow system.