How to effectively manage financial risks 1
First, time control.
In the financial market, no matter how risky the variety you trade is, as long as you don't enter the market, there is no risk in "short positions". As long as you enter the transaction, you will always face different degrees of risk. Therefore, it is particularly important to control the time when you enter the transaction. Here is an example: you can think that within one minute, the price of gold will rise by 10 or fall by 10. The answer is definitely: not much! At least in normal transactions, it rarely appears. Unless there are some emergencies, the probability is extremely low. Then let's think again, if it is within 1 hour, will it increase 10 or decrease 10? I think this kind of thing often happens. So we can draw a conclusion that the shorter we hold it, the smaller the risk we face; The longer the position, the greater the risk. In order to reduce the risk, you should shorten the holding time. When you shorten the holding time, your profit target must also be shortened.
Second, position control.
Once you find that the direction is wrong, you must strictly stop the loss; The trend is very obvious. Short-term heavy positions enter the market, with 60%-70% positions. People often ask: What kind of post is reasonable? The answer given by many professionals is one third. Suppose the total amount of funds in your account is 3 million, then use 1 10,000 to open a position, and the remaining 2 million will be used as reserve. Especially in margin trading, this is one of the important means to control risks. However, in actual trading, it is obviously unreasonable for each investor to hold one-third of the positions and stick to the rules because of the different amount of funds and trading conditions. Yu Kai Gold and Silver believes that because everyone's investment experience and professional level are different, the control of positions should also be different. If you are a person with rich trading experience, when the trend is clear and the odds are high, it is not a big problem to enter 60%-70% of short-term positions, and you may make a lot of money soon. But this premise is, and once you find that the direction is wrong, you must strictly stop the loss. (According to personal circumstances, many customers make real positions after playing simulated positions, but the real positions and simulated positions are completely different', so it is recommended that new investors do not hold more than 2 lots.)
Third, technical control.
Technical control refers to the use of technical analysis tools, after a comprehensive study of the market, set a scientific stop loss to control risks. The goal of stop loss is to lock the maximum loss in an acceptable range. Avoid heavy losses. In the trading market, any professional analyst may make mistakes, because people are not gods after all, and it is impossible to make 100% accurate predictions about the future. So once you find that the direction is wrong, you should level the original wrong list in time. Although this is a loss, at least it will not continue to lose money, which will eventually lead to a large-scale loss. This market is not afraid of mistakes, but most afraid of delay! It hurts to break my arm, but my life is still there! Especially for beginners, you must develop the habit of following the stop loss after placing an order.
How to effectively manage financial risks II.
(1) Strengthen and improve the macro-prudential policy framework and strengthen the construction of financial stability mechanism.
Combined with China's national conditions, we will further improve the macro-prudential policy framework, improve the coordination mechanism of financial stability at the national level as soon as possible, establish an institutional mechanism of coordination and complementarity between macro-prudential management and micro-prudential supervision, and constantly improve relevant management tools to provide reference and standards for the construction of the coordination mechanism of financial stability at the grassroots level. So as to unify and standardize the performance of coordination subjects at different levels, enhance the execution of financial stability coordination mechanism, and realize the vertical coordination of financial stability coordination mechanism at different levels.
(2) Improve the legal system of financial stability and actively build a "firewall".
Separate legislation to maintain financial stability, overall design the connotation, organization and leadership, participating departments, division of responsibilities and accountability of China's financial stability, and standardize the legal relationship among financial regulators, financial institutions and financial institution customers. On this basis, amend the laws and regulations of relevant departments one by one, refine the work responsibilities of each department, and keep consistent with the overall law of financial stability; Improve the prevention, early warning and evaluation system of systemic financial risks, and strengthen the monitoring and evaluation of cross-industry, cross-market and cross-border financial risks. Only through the continuous improvement of the legal system can we prevent the risks of some regions, industries and enterprises in the real economy and informal financial risks from spreading to the financial system, and realize the unity, initiative, coordination and effectiveness of financial stability work in various departments and levels.
(3) Establish and improve the financial risk early warning mechanism, so as to achieve timely tracking and early warning.
We should continue to strengthen macro-prudential supervision, analyze and judge systemic risks according to the development and changes of major financial parameters of the financial system, such as credit growth, asset prices and leverage ratio, and adopt corresponding policies to stabilize risk fluctuations. At the same time, it is also necessary to create the "internal force" of risk prevention from the perspective of the institution itself. For example, the regulatory authorities should urge financial institutions to strengthen internal control and risk management.
(4) Promote the construction of risk compensation system.
In order to build a framework of crisis management and risk disposal and promote the construction of deposit insurance system, risk compensation mechanism is the basic institutional arrangement for establishing a long-term mechanism of financial stability, which plays an irreplaceable role in reducing systemic financial risks. Judging from the development trend of China's financial industry, gradually establishing a market-oriented risk compensation mechanism is conducive to preventing the transmission and spread of financial risks in the whole society and reducing the destructiveness and influence of risks.
Analyze the causes of the current situation of internal control risk in financial enterprises.
There are many reasons for the current situation of internal control of financial enterprises in China. Specific analysis, mainly in the following aspects:
First, the corporate governance structure of financial enterprises needs to be further improved.
Second, the internal control culture of financial enterprises has not really been established, and the risk awareness needs to be further strengthened.
Third, a good control environment has not been formed. The internal control system of financial enterprises is not smooth, there is no effective internal control incentive mechanism, and most internal control systems become a mere formality.
Fourth, there is no perfect internal control evaluation mechanism. For a long time, few financial enterprises have conducted a comprehensive investigation on internal control. Without strict evaluation system and restriction mechanism, the binding force is not strong.
Strengthening the construction of internal control of financial enterprises and the countermeasures to prevent financial risks
According to the actual situation of financial enterprises, drawing lessons from foreign advanced theories and experiences, this paper puts forward the following suggestions on strengthening the internal control construction and wind prevention of financial enterprises:
First, give full play to the leading role of government departments, create a good external environment for the internal control construction of financial enterprises, and strengthen unified planning and guidance for the internal control construction of financial enterprises in China; Promote the research on internal control theory of financial enterprises suitable for China's national conditions, as well as the research and formulation of internal control standards and evaluation systems.
Second, strengthen the construction of internal control environment of financial enterprises. Focus on strengthening the following aspects:
1. Improve the working mechanism of the board of directors and control decision-making risks. Establishing a scientific decision-making mechanism is an important goal pursued by modern enterprise system construction, and of course it is also the basic goal of improving corporate governance structure. On the premise of optimizing the board of directors, establish a more effective decision-making mechanism and improve the working mechanism of the board of directors, mainly: (1), invite experts to the board of directors to help the board of directors improve the scientific decision-making; (2) Establish an effective decision-making advisory body; (3), the establishment of major decision-making committee system, and so on.
2. Strengthen the construction of supervision system with the board of supervisors as the core. The corporate governance structure of modern companies consists of shareholders' meeting, board of directors, board of supervisors and managers. The supervisory power of the board of supervisors is statutory and exercised on behalf of all shareholders. The board of supervisors is independent of the board of directors and managers. The board of supervisors has a wide range of functions and powers, so it should give full play to its responsibilities, complete its mission under the scientific operation mechanism of the board of supervisors, and improve the operation quality of the company.
3. Establish an effective internal control incentive mechanism.
4. Cultivate the internal control culture of financial enterprises. It is necessary to make all employees of financial enterprises understand the importance of internal control, understand and master the main points of internal control, strive to find problems and risks, and actively participate in internal control, so as to form a good internal control environment and culture within financial enterprises. The main feature of an efficient risk management and control system is the sensitivity and perception of risks, and the risk awareness runs through the words and deeds of all employees in the enterprise.
Third, establish and improve the risk identification, appraisal and evaluation system.
1. Learn from international advanced experience and use modern scientific and technological means to gradually establish a monitoring, evaluation and early warning system covering all operational risks.
2. Use the risk management method based on value at risk (VAR) for daily risk control, continuous monitoring and regular evaluation.
3, according to the changing environment and situation, timely modify the relevant internal control system, in order to adapt to the requirements of risk management and internal control under the new situation.
Fourth, establish an effective internal control operation system and establish a "three monitoring lines of defense" for operation and management.
1. The first line of defense: the front line of business is operated by two people, with two jobs, two responsibility. There should be a follow-up supervision mechanism for those who need one person and one post for business.
2. The second line of defense: give priority to mutual supervision and restriction between departments and posts.
3. The third line of defense: the internal supervision department comprehensively supervises all departments, posts and businesses to make the risk management system match the business management process.
Strengthening and perfecting the internal control of China's financial enterprises and effectively preventing financial risks have become the consensus of current theoretical and practical circles. The study of internal control is of great significance for improving the internal control of financial enterprises in China and ensuring the effective operation of financial markets.
Basic characteristics of financial risk
(1) Uncertainty: It is difficult to fully grasp the factors affecting financial risks in advance.
(2) Relevance: The particularity of the commodity-currency operated by financial institutions determines that financial institutions have a strong correlation with the economy and society.
(3) High leverage: Financial enterprises have high debt ratio and large financial leverage, which leads to large negative externalities. In addition, financial instrument innovation and derivative financial instruments are also accompanied by higher financial risks.
(4) Endurance: Financial institutions assume the functions of intermediary institutions, which separates the corresponding relationship of the original loans. Any party in this intermediary network may have an impact on other aspects, and even industrial and regional financial risks may occur, leading to financial crisis.
express
What is financial risk? Financial risk is the possibility that a certain number of financial assets will suffer losses in the future. For financial management, risks exist objectively. What we need to do is to learn how to control risks and supervise financial risks.
Financial risks can be divided into market risks, institutional risks and institutional risks. However, the biggest risk in China comes from the influence of the traditional system and the irregularities caused by poor supervision. Due to the long-term accumulation of institutional factors, including the influence of the traditional planned economy system, the construction funds of state-owned enterprises rely too much on bank loans, and bank credit funds are financialized; Coupled with poor internal management of financial institutions, huge bad debts are generated, resulting in low quality of financial assets. The irregular operation of China's securities and futures market has disturbed the normal order, resulting in a large number of illegal acts. Some securities institutions and enterprises (including listed companies) collude with a few banking institutions to make huge profits and introduce speculative risks in the stock market into the banking system. Some enterprises and financial institutions evade state supervision and illegally carry out overseas futures trading, causing huge losses to the country; Listed companies are not standardized and even become a means of poverty alleviation.
After China's entry into WTO, with the money market, capital market and foreign exchange market completely open, the free flow of capital will bring more difficulties to the supervision of China's economic and financial markets.