Pengalihan fungsi pengawasan konglomerasi keuangan heterogen di Indonesiakepada Pengawas Entitas Utama menyebabkan beban kerja pengawas meningkatdan terdapat risiko lambatnya pendeteksian pengawas terhadap eksposur risikosignifikan pada konglomerasi keuangan karena Pengawas Entitas Utama harusmelaksanakan 2 (dua) fungsi pengawasan dalam waktu yang terbatas, yaitupengawasan individual dan pengawasan konglomerasi keuangan. Keterbatasan danrisiko yang dihadapi pengawas dapat dimitigasi dengan menerapkan perencanaanpengawasan yang mengadopsi konsep audit berbasis risiko. Oleh karena itu,penelitian kualitatif dengan pendekatan studi kasus ini dilaksanakan untukmerancang key risk factors dalam perencanaan pengawasan konglomerasikeuangan guna merekomendasikan prioritas pengawasan konglomerasi keuangan.Teknik aplikasi manajemen risiko yang digunakan untuk merancang key riskfactors pada penelitian ini antara lain benchmark dengan kriteria konglomerasidalam cakupan 3 (tiga) otoritas pengawasan lain, proses validasi atas dokumen Risk& Control Self-Assessment (RCSA) dari konglomerasi keuangan, dan penentuankey risk indicator. Berdasarkan penilaian tersebut, maka direkomendasikan 3 (tiga)kategori key risk factors, yaitu kompleksitas usaha berdasarkan diversifikasi bisnisdan struktur konglomerasi keuangan, signifikansi lembaga jasa keuangan anggotakonglomerasi keuangan terhadap industri, dan tingkat kondisi konglomerasikeuangan yang merupakan hasil komposit dari penilaian tata kelola, manajemenrisiko, permodalan dan profil risiko konglomerasi keuangan. Penerapan key riskfactors baru terhadap audit universe berupa 46 konglomerasi keuangan heterogenmenghasilkan 3 (tiga) kelompok prioritas pengawasan, yaitu prioritas utamasebanyak 16 konglomerasi keuangan heterogen, prioritas kedua sebanyak 14konglomerasi keuangan heterogen, dan prioritas ketiga yang kurang mendesaksebanyak 16 konglomerasi keuangan heterogen. Penetapan prioritas tersebutdiharapkan dapat membantu pengawas agar kegiatan pengawasan dilaksanakansecara optimal sesuai dengan eksposur risiko suatu konglomerasi keuangan

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The reorganisation of heterogenous financial conglomerates supervision function

to lead entity supervisor affected the supervisor’s workload and increase the risk

of delayed on detection of significant risk exposure possessed by financial

conglomerates (FC) due to additional responsibility to lead entity supervisor in

limited period to perform both individual and financial conglomerates supervision.

Limitations and risk identified to supervisors could be mitigated by implementing

supervisory plan which adopted risk based audit. Therefore, this qualitative

research with a study case approach was carried out to recommend key risk factors

with risk analysis to determine supervision priorities in the financial conglomerate

supervisory planning process. The risk assessment techniques used in this study

include benchmarks to 3 (three) other supervisory authorities, validation process

of Risk & Control Self-Assessment (RCSA) documents reported by financial

conglomerates, and determination of key risk indicators. Based on the assessment,

it is recommended 3 (three) categories of key risk factors, as follows: business

complexity based on business diversification and FC’s structure, the significance

of FC’s member to its respective industry, and the FC’s integrated risk rating which

are the composite results of assessments of FC’s governance, risk management,

capital and risk profile. The application of new key risk factors to the audit universe

of 46 heterogeneous FC’s could be categorized to 3 (three) groups of supervision

priority, as follows: 16 heterogeneous FC’s are first priority group, 14

heterogeneous FC’s are second priority group, and 16 heterogenous FC’s are third

priority. The result of this research may help supervisors to perform their

supervisory duties optimally based on FC’s risk exposure