Banking on Success
It was his persistence, determination and commitment that earned him the position of CEO at Indonesia’s largest bank. The sprightly Kartika Wirjoatmodjo sits down to tell us about his life, the challenges he has faced and his visions for the future. Novra
omposed, astute and commanding. These are the first words that come to mind when meeting Kartika Wirjoatmodjo. Born in Surabaya in July 1971, the affable and softspoken Kartika has an immense amount of appreciation and passion for his work.
“To always give it your all,” is the principle behind Wijoatmodjo’s work ethic. Backed by credibility, high levels of professionalism and his expertise garnered from years of experience, Wirjoatmodjo was promoted to CEO of Bank Mandiri, the biggest bank in Indonesia with assets worth more than Rp 910 trillion, and was the bank’s youngest-ever CEO at 43.
Tiko—the nickname he is widely known by—started working in the finance and banking industry in 1995. However, throughout that time, he never sought out a specific career path. “Regardless of what I am working on, my main goal is to be able to do my utmost best for the nation and the people,” he tells us.
Wirjoatmodjo strongly believes in being upstanding, and working diligently with dedication and commitment are the keys to advancing one’s career. He graduated from the University of Indonesia, majoring in economics and accounting, then earned his Master’s degree at the Erasmus University Rotterdam School of Management and rose to prominence at blistering speed.
His illustrious career includes being a tax consultant and accountant at RSM AAJ Associates; a credit analyst at the Industrial Bank of Japan; a consultant at Pricewaterhousecoopers; and then working with the Boston Consulting Group. It was only in 2003 that saw him return to Indonesia to join Bank Mandiri. And so, in less than a decade, Wirjoatmodjo rose through the ranks and was promoted to CEO of the Indonesian Finance infrastructure division.
His exceptional abilities at the bank caught the attention of former President Susilo Bambang Yudhoyono, who assigned Wirjoatmodjo as the CEO of the Indonesia Deposit Insurance Corporation. And in March 2016, his career hit its highest peak yet: he was promoted to CEO of Bank Mandiri.
“It was an absolute honour to be promoted to CEO. That said, the promotion, more than anything else, also presents great challenges, among which is to take the Bank Mandiri name to even greater heights in both local and regional terms,” Wirjoatmodjo says.
With that vision in mind, it is no surprise that Wirjoatmodjo’s plan is to first expand the bank’s market penetration to Malaysia and Singapore. His plan of action is to open new branch offices in the region and to enhance the utility of these branches. “There is a sense of pride that I get when I visit an overseas branch and see for myself the operations,” he tells us.
Wirjoatmodjo is constantly taking steps to turn his vision into a reality. In-depth research and understanding the challenges faced by the banking industry are essential to his plan.
Wirjoatmodjo, who counts Nelson Mandela among his biggest inspirations, notes that the Indonesian economy experiences a cyclical pattern that spans around eight years.
“Regardless of what I am working on, my main goal is to be able to do my utmost best for the nation and the people”
The economic downturn of 1998 was met with growth in 2006, followed by another downturn in 2014. The Indonesian economy is currently approaching the end of another downturn—as seen in the aftermath of 2013, prices of commodities such as coal saw a decrease as the global economy slowed down.
But even in times of economic downturn, Wirjoatmodjo says that we have to remain positive. Indonesia is one of the few nations that has managed to exceed the forecasted global economy growth rate. The IMF forecasted a growth rate of 3.2 per cent yearon-year, while the Indonesian economy saw growth of 4.92 per cent in the first quarter of 2016.
“The growth of the Indonesian economy, while slower than it has been, is still moving at a better rate than that of other countries like Brazil. We have to be optimistic and look forward, and spend more of our time and energy on creating breakthroughs for ourselves and the nation,” says Wirjoatmodjo, who is a father of two girls.
He is confident that Indonesia’s economy will bounce back in 2017. Bank Mandiri, under his leadership, will continue to improve its online services in anticipation of this resurgence. “We are always looking to innovate,” he says. “We have to get the best out of our digital technology and human resources. I hope that in the next one to two years, Bank Mandiri will be at the forefront of online banking services.”
Kartika Wirjoatmodjo is a man who believes in being bold in the face of adversity; in always using a bit of “elbow grease”; and is constantly looking to better himself. He is determined to uphold Bank Mandiri’s reputation as the largest, most technologically advanced and trustworthy bank in Indonesia and Southeast Asia.