Circular of the Financial Services Authority Number 12/SEOJK.05/2025 Regarding Work Competency Certification for Insurance Companies, Guarantee Institutions, Pension Funds, and Special Institutions in the Insurance, Guarantee, and Pension Fields

The Indonesian Financial Services Authority (OJK) issued Circular 12/SEOJK.05/2025 to implement human resource quality development mandates for the insurance, pension, and guarantee sectors. The regulation requires these institutions to ensure their staff hold valid Work Competency Certifications (SKK) or OJK-approved alternative certifications, while key executives must demonstrate annual competency maintenance. It establishes the framework for competency development, recognizes foreign certifications, and revokes previous circulars regarding risk management and guarantee expertise.

Indonesia

Otoritas Jasa Keuangan (Financial Services Authority)