The following information is for reference:
Article 47 of the Measures for the Administration of Futures Companies stipulates that futures companies shall, in accordance with the provisions of the China Securities Regulatory Commission, implement unified settlement, unified risk management, unified fund allocation, unified financial management and accounting for the business department, and establish a standardized and perfect post responsibility system and business operation procedures for the business department (hereinafter referred to as "four unifications" of the business department).
The above regulations require futures companies to implement "four unifications" in the business department "according to the regulations of China Securities Regulatory Commission", but since the implementation of this method on April 15, 2007, China Securities Regulatory Commission has not issued relevant regulations on how to implement "four unifications" management in the business department, which makes futures companies confused about how to manage the business department, and the regulatory authorities have no clear basis for their supervision.
The interpretation of "unity" in modern Ci poetry is "integration; Consistent; No objection; There is no difference. " So, how to understand the "four unifications" of the sales department? How to operate? The author talks about the understanding of the "four unifications" of the sales department in combination with the actual work, hoping to play a role in attracting jade.
Understanding of unified settlement in business department
At present, the futures industry generally adopts two-level settlement mode, that is, futures exchanges settle futures companies and futures companies settle customers. The futures company's settlement is handled by its relevant settlement department, that is, the settlement is carried out by the customer in a unified transaction settlement system. After settlement, the relevant settlement results will be sent to the business department and China Margin Monitoring Center, and customers can log on to the website of China Margin Monitoring Center to check their transaction records. The sales department only passively accepts the settlement results. In this sense, the business department has no settlement work, let alone manage its settlement work. It is more appropriate to adjust the unified settlement of the business department to the unified settlement of customers. Generalized unified settlement should also include the unified delivery and pledge business of the headquarters of the futures company and the unified reconciliation with the futures exchange.
Understanding of unified risk management in business departments
In order to strengthen risk control, at present, most futures companies are responsible for risk control by specific departments, and formulate a unified risk control system, establish a three-level risk control system including leaders in charge, risk control departments and business departments, and clarify the division of responsibilities and business processes at all levels.
The risk control personnel of the business department are managed by the risk control department, specifically responsible for the front-line risk monitoring, directly responsible for contacting high-risk customers, and timely notifying customers to add margin as required, and taking compulsory liquidation measures when necessary. The full-time staff of the Risk Control Department is responsible for the forced liquidation of customers who fail to add margin in time within the specified time, so as not to cause losses to futures companies. Major risk control matters should be reported to the leaders in charge for approval before handling.
In order to do a good job in risk control, futures companies should sort and classify customers according to risk levels, and adopt different control methods for customers with different risk levels. Full-time risk control personnel should be skilled in business, quick in response, accurate in operation and timely in feedback. It can be seen from the above analysis that the unified risk control work can be understood as: under the unified risk control system of futures companies, a hierarchical risk control system is established to effectively prevent all risks that may be caused to futures companies, including market risks, information system risks, credit risks, personnel risks and new business risks.
For the risk control of IB business customers, the specific risk control measures shall be implemented by the risk control department of the futures company, and the personnel of IB securities business department shall not be authorized to handle them.
Understanding of unified allocation of funds in business department
The funds of the business department include customer funds and self-owned funds, which are respectively deposited into the deposit account and self-owned fund account to be opened by the business department.
As for its own funds, the business department, as an independent business entity, needs to independently carry out business activities, independently calculate and pay taxes, and needs a certain amount of working capital, which is allocated to the business department by the headquarters of the futures company according to certain standards, and managed and controlled by the business department in accordance with the provisions of the financial system of the futures company. In this sense, unified fund transfer refers to the transfer of funds between the headquarters and the business department in accordance with the financial system of the futures company, instead of the headquarters handling the money that should be paid directly by the business department, which will handle the payment on its own according to actual needs.
As far as customer funds are concerned, at present, most customers handle the deposit and withdrawal business through the centralized bank transfer system and through a bank account at the headquarters of the futures company, which achieves the effect of immediate concentration of funds, but increases the accounting workload, because a sum of funds must be accounted for separately at the headquarters and the business department. For the remittance deposit, some futures companies handle it through the headquarters, and some handle it through the sales department. However, from the point of view of strengthening management and control, most futures companies do not allow the sales department to handle customers' withdrawal business by itself, but the headquarters of the futures company will handle it centrally. From the point of view of convenience for customers, coping with emergencies, reducing remittance cost and simplifying accounting, it should be feasible for the business department to directly handle withdrawal. As for the "unified fund allocation" stipulated in the Measures, it is unknown whether this method is allowed.
Understanding of unified financial management and accounting in the Division
1. How to realize the unified financial management of the Division?
To realize the unified financial management of the business department, firstly, the futures company should formulate a unified financial management system, secondly, the headquarters and the business department should strictly implement it, and there should be no different government decrees. Financial management includes fund management, asset management, tax payment management, financial personnel management, budget management, performance appraisal, etc.
The business department shall conduct financial management in accordance with the financial system formulated by the futures company, and it shall be clear that the business department is both the business entity and the financial management entity. The person in charge of the business department is responsible for the accounting work of the business department. Business department heads should attach great importance to the management of financial seals and bank keys, and allocate management authority according to the principle of mutual containment to ensure the safety of company funds. The person in charge of the business department should have the consciousness of accepting supervision and correctly handle the relationship between operation and financial supervision.
The financial department and audit department of the headquarters of a futures company shall regularly inspect and supervise the business departments to ensure the effective implementation of the financial system.
2. How to realize unified accounting of the Division?
Different futures companies have different understandings and practices on how to conduct unified accounting.
The first way: the headquarters and business department of the futures company are included in a set of accounts for accounting, and the business department is an internal department for accounting, not an independent accounting entity. When the business department's report is needed, it will be compiled according to the relevant operating and financial data.
The second way: the futures company regards the business department as an independent accounting entity, but the accounting work is concentrated in the headquarters, and the business department only keeps a small amount of reserve funds for regular reimbursement. Because the sales department and the headquarters work in different locations, document delivery is time-consuming and laborious.
The third way: the futures company regards the business department as an independent accounting entity and conducts accounting according to a unified accounting system. The business department arranges a financial personnel to handle related financial matters on site, and the financial personnel at the headquarters work through the network to realize remote review and supervision and ensure the quality of accounting work. This can make the business management and financial management of the business department closely linked, which is more conducive to the management of the business department. Of course, for a large-scale business department with a large amount of accounting, an accountant and a cashier can be equipped to realize the internal containment mechanism for on-site handling and auditing of the business department.
The author believes that the second and third methods can be said to have realized "unified accounting", but from the analysis of management effect, the third method is better.
The essence of the "four unifications" of business divisions is to manage business divisions according to unified requirements and maintain the "consistency" of system management for all business divisions. Due to the changes in the background of "four unifications" in the business department, many situations, such as customer notification mode, deposit and withdrawal mode and business scale of the business department, have changed greatly. Therefore, under the favorable situation of the healthy development of the futures industry, it is suggested that the relevant departments clarify the requirements and standards of the "four unifications" of the business department.