Relationship Balanced Scorecard and COSO 2013 Risk Management to Improve Performance: A Case Study on BPR Chandra Mukti Artha Bank

Anissa Mega Ratri, Perminas Pangeran


In the 21st century companies, especially in financial institutions (banks) face a complex business environment, full of opportunities, but pitted with risks, where they must make effective business decisions, improve interpersonal relationships, fulfill community obligations with the right strategy and managing risk. To overcome these challenges, companies need management tools that can help companies achieve their goals. In a very simple application, BPR Chandra Mukti Artha applies the Balanced Scorecard (BSC) and COSO Enterprise Risk Management (ERM) framework as a tool to link strategic objectives into the COSO ERM framework. They link high-level corporate strategies determined by top-level management with the daily activities of employees in the organization. Surprisingly, most companies view BSC and COSO ERM as separate and unrelated management initiatives. In this research, I study the feasibility of linking BSC with COSO ERM 2013, a framework for sophisticated risk management, similar to how BSC can be integrated with various business management frameworks and methods. The integration of these two management tools (BSC and COSO ERM Framework) is a natural step in the evolution of bank management to improve bank financial performance.


Balanced Scorecard; COSO Enterprise Risk Management Framework; Strategic Management System; Risk Management; Financial Performance

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