Since the last century

70

Since the 1990s,

With the rapid development of financial innovation and global financial transactions,

international financial market

The turmoil has intensified, and financial crises of different degrees and forms have come back every once in a while, and people have begun to focus.

Focus on building and improving the risk control system of financial institutions. Nowadays, all kinds of financial institutions are interested in risk control system.

Most of the construction has been arranged or is being implemented. However, compared with the international advanced level, we have built.

The established risk control system is still quite backward. In order to establish an effective risk control system and deal with increasingly complex financial risks, we

There is still a big gap, so we should catch up.

2004

The new Basel Capital Accord issued in 2000 puts forward the requirement of comprehensive risk management of banks, if

After careful taste, people will find that its lines are full of quantitative risk requirements, emphasizing the use of

Various theories and technologies of modern financial engineering collate and analyze a large number of market data, and through the risk model,

The accurate determination of various risk indicators makes modern financial risk management move towards quantification, proceduralization, productization and marketization.

Develop in the direction of field and specialization. In other words, risk management is actually a science. In the past few decades

In the field of risk management, great progress has been made in quantifying financial risks by using advanced mathematics and statistical models.

Step, it fully illustrates this point.

On the other hand, in practice, despite the support of modern financial theory, mathematical statistics and computer technology,

With the rapid development of modern risk measurement technology, risk management is far from being a pure science. many

Basic information related to risk factors, such as business core competitiveness, management ability, profitability, etc.

Its acquisition and calculation are largely an art, and it is impossible to be as accurate as engineering. Actually, artistry

Enterprise risk management still occupies a very important position, therefore, risk management should be a discipline.

Art, an art with the help of scientific methods.

Four steps of risk control system construction

The combination of science and experience art is the necessity of modern financial institutions in risk management practice. In modern finance

In risk management, a complete risk control system should aim at legal and effective operation and smooth information, covering management.

Control culture, effective risk identification and assessment, separation of control activities and responsibilities, information and communication, and monitoring.

And defect correction. The construction of risk control system shall include the following contents:

Constructing an efficient and rigorous risk management organizational structure

Our risk management system is still quite backward. An outstanding performance is the organizational system of risk management.

Let's go Directly led by the board of directors and its senior management, with independent risk management department as the center, all businesses.

The internal risk management system with close relationship between departments is the organizational guarantee of modern financial risk management. However, due to the rules.

Due to structural problems, the risk management of financial institutions in China obviously lacks the guarantee of such an effective operating mechanism and organizational system.

Barriers. Establish an effective risk management organizational structure, and the board of directors, risk management department, various business departments, audit

Inspection and other departments have a clear responsibility for risks, and define internal functional departments and positions to be awarded.

Risk limits and definitions so that the risk management function remains independent and authoritative.

Strict risk management organization framework is to establish an effective risk management committee, undisturbed,

A risk management committee that can work independently is very important, and it must be able to formulate risk management policies.

Something like that. At the same time, it is necessary to establish a risk management functional department, which is in charge of the risk management Committee.

Responsibility.

In addition, the Chief Risk Officer

(CRO)

It is necessary to establish a new system, but it should not be across the board. Conditional priority

If there are no conditions, you can go later, otherwise, even if you install one.

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The title, not fulfilled.

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The position of

At best, responsibility is only the role of risk manager.

It is also important to establish an independent audit department under the leadership of the board of directors.

Audit department, working under the authorization of the board of directors. It can be carried out on a regular basis independently of any department of a financial institution.

Or irregular business audit work, grasp the first-hand information of business risks. In addition, establish a risk manager.

System, the risk manager has rich experience in risk management, familiar with the comprehensive risk management model of modern financial institutions,

Mastering risk identification and control technology and skillfully using advanced risk management methods is risk management and control.

First-line people.

Finally, risk management is a highly specialized and complex job, which requires a variety of specializations.

Risk management and technical personnel. We must have a clear division of labor, perform their duties, and jointly make the risk monitoring function effective.

Play. Everyone needs systematic training, not only to be familiar with the risk management structure and correlation of the whole enterprise.

Technology, can find risks in time and report them to make them effectively controlled.

Establish an effective internal control system

A sound internal control system is one of the keys for enterprises to guard against risks, and whether the risk control system of financial institutions can be true.

An important part of control. The goal of establishing an internal control system is to establish a multi-level

Strict internal control system establishes a complete set of internal and external behavior restraint machines for enterprises and employees.

System, establish a step-by-step supervision mechanism and self-control organization mechanism for each department, and conduct internal control according to management technical requirements.

Design the corresponding system, organization and function to form an organic control system.

At present, some domestic financial institutions lack strict authorization management and collective decision-making procedures.

The authority and responsibility of department management are unclear, and even there is abuse of power and authorization. Some departments

The door has several responsibilities; The responsibilities between posts in the department are unclear, the internal powers and responsibilities are out of line, and the internal audit takes the form of reduction.

Less, the ability to prevent mistakes is reduced.

Since power has not been effectively restricted,

At the same time, the department settings overlap,

It causes everyone to pass the buck and no one is responsible, which leads to inefficiency and even internal corruption and misappropriation.

This happens all the time.

Therefore, financial institutions must optimize the organizational structure, improve the post responsibility system and standardize post management measures. this

It is the foundation of micro-operation of financial institutions. The macro-management objectives of financial institutions depend on the joint efforts of personnel in various positions.

Try to achieve it. Therefore, financial institutions should manage their internal work by objectives and formulate standardized post responsibilities.

System, strict operating procedures and reasonable working standards; And according to different positions, clear tasks, distribution.

Give each post corresponding responsibilities and powers, and establish a working relationship of mutual cooperation, mutual supervision and mutual restraint.

An effective and authoritative internal audit supervision system must be implemented. This is a system formulated by financial institutions.

Degree of guarantee implementation. Internal audit system refers to various departments and posts in the process of business operation.

An uninterrupted continuous inspection system, that is, each link completes its own business, is also the last link.

Verification of work accuracy is different from independent internal audit afterwards. Audit departments must independently implement internal control.

The auditing organ of the National Audit Office has become an authoritative supervision department with executive power. They not only have the right to inspect and urge all departments

Establish and improve various rules and regulations, and have the right to deal with departments and personnel who do not comply with or implement rules and regulations.

Punishment, so that management measures and rules and regulations do not become mere formality, can be implemented.

Using advanced technology to build a comprehensive risk management system

If a worker wants to do a good job, he must sharpen his tools first, no matter how we formulate and improve various risk management systems and measures.

Computer real-time risk management system is still the key link in the whole risk management system, which is to achieve effective.

An indispensable high-tech tool for risk monitoring. Otherwise, effective risk management will be just empty talk.

Using modern information technology, we will build an open and efficient computer comprehensive risk management system.

The mathematical statistical risk measurement model and system are aimed at the credit risk and market trend of financial institutions at all business levels.

Risks, operational risks, etc. , comprehensive and effective identification, measurement, monitoring and control.

Total risk management system should not only bring brand-new technology application and user experience, but also bring

Renewal of dynamic risk management concept and theoretical innovation. The comprehensive risk management system can not only meet the internationally recognized

Industry standard, calculating the most complex portfolio risk of most products in the trading market, which can be calculated as needed.

Calculate the portfolio risk of domestic futures options; It can not only realize real-time calculation after transaction, but also extend to delivery.

Risk control before easy; It can not only calculate the market risk of transactions, but also calculate the credit risk and analyze the operational risk.

Conduct quantitative analysis.

High-quality talents and risk management culture

Realize effective risk management,

People are the key to management.

Modern risk management has a high knowledge content,

Highly technical,

It requires personnel engaged in modern risk management to be familiar with the risk management structure and technology of the whole enterprise, and have

Have keen insight, be able to find risks in time and effectively control them, and need to undergo strict professional training.

In order to be competent for this job, therefore, we should speed up the training of high-quality risk management talents to meet the needs of the market and do this job well.

The introduction and training of high-level talents is the main force for domestic enterprises to establish reserve forces now and in the future.

An important guarantee for effective risk prevention and steady development in the unpredictable market economy in the future.

Secondly, risk management culture is also an important factor in the internal control system of financial institutions.

Later, the enterprise's awareness of risk management was weak, and it could not adapt to the rapid development of business and the changes of risk management.

The needs of. In practice, the risk management mechanism has been neglected and neglected, and a large number of financial cases have occurred. these

To a great extent, this situation is not due to the lack of risk management systems, policies and procedures, but to the risk management culture.

Lack of these systems, policies and procedures can not really play their due role.

Improvement and promotion of risk control system

An effective risk control system must adapt to the risk environment and penetrate into all aspects of business activities.

At present, the risk control system of some financial institutions in China has basically taken shape, but in the specific implementation and risk culture construction,

While others are relatively weak. We should realize that establishing a risk control system is only the first step of effective risk management.

Step, its perfection and promotion, there is still a long way to go. Only a strict and effective risk control system can be used.

Ensure that there are no loopholes at ordinary times and no accidents at critical moments. In-depth analysis of financial institutions that have become news stars can

In order to find many loopholes that are usually ignored and used to it. From Bahrain Bank Cao to Industrial Bank, I

Scientists see most of the similarities. Cao was once the pride of state-owned enterprises in China. Once upon a time, from glory

The peak of collapse. What is the reason?

First, risk management.

"

rule of man

"

This phenomenon must be fundamentally reversed. After Cao's huge losses were exposed, people

In the investigation, it is found that the fatal cause of Cao incident is fundamentally the excessive personal power and the lack of personal power.

Effective restriction and supervision, the system can not be implemented. Although the risk control system has been established, when the company's operation is under complete control,

Principal Chen Jiulin is the only one, and this system exists in name only. As someone pointed out: China aviation fuel is the largest.

The risk is

"

rule of man

"

Moreover, this kind of situation is not an individual phenomenon among enterprises in China. So senior leaders must accept it.

According to the principle of mutual supervision and power balance, it is included in the whole risk control system.

Become an important object of control and constraint.

Otherwise, the internal control or risk management mechanism will be ineffective.

Secondly, it is necessary to establish internal and external supervision mechanisms. On the surface, Cao's interior is complete.

The internal control system is good, but the problem is that there is a system, but there is no good supervision and implementation. It can be seen that even the company's

A high-standard risk control system has been established, but there are no effective measures to ensure and supervise its implementation.

Then the internal control system will not work. Therefore, an effective supervision mechanism must be established to ensure the main body of risk control.

The implementation of the department.

Third, the risk management system should be advanced, applicable and effective. Cao's risk management is actually

This is a science. In the past decades, advanced mathematical and statistical models have been used to quantify finance in the field of risk management.

Great progress has been made in the insurance work, which fully illustrates this point. Chairman Chen Jiulin is very proud outside.

Claiming that the company adopted

"

The most advanced in the world

"

The risk management system is based on

kiodexriskbwork bench

Management style

Risk, based on the first prize of national enterprise management modernization innovation achievement, why didn't it stop at last?

Risk? A truly effective risk management system should not only be able to accurately calculate and predict the risk value,

It should also be able to achieve multi-level participation, active participation, not limited by space and time, combining beforehand and afterwards, and planning beforehand.

The combination of measurement and tracking, transaction and risk management, analysis and calculation. That is to say, in a

Within the organization, the risk management system must give full play to its role, and all personnel related to risk management should take root.

According to different authorities,

All the way to the top of the company,

Down to ordinary risk control personnel,

Everyone can be free at any time,

Space impact, know and master all kinds of risk changes at any time through computer equipment networking. Only in this way can we guarantee it.

Relevant risk information shall be fully grasped by relevant personnel to prevent potential risks that are neglected due to the dereliction of duty of a few people.

Fourth, effective emergency measures should be established. Chen Jiulin, president of CAO, said afterwards that if something had been discovered,

Immediately decide to lighten the position, and the actual loss may not exceed.

1

One billion dollars, the internal control system is divided into pre-control and in-process.

There are three stages of intermediate control and post-event control, and each stage cannot be ignored, because an effective internal control is the whole process.

Yes Prior control plays a preventive role, but internal control has certain limitations, not all.

Risks can be effectively controlled before and after the event. Decision makers and management have different abilities to identify risks and treat them differently.

Different risk attitudes and different courage to avoid risks may lead to completely different results. So enterprises

The management must establish a set of effective emergency measures, fully consider the potential risks of the company, and be able to respond quickly.

Respond to the failure of risk control or decision-making, and implement remedial measures to minimize losses.

Finally, it is also important to adjust the mentality of all employees and cultivate risk awareness and culture, although China has carried out reforms.

After many years, the ideology, system and culture left over from the long-term planned economy are still deeply rooted, and the financial institutions are huge.

They are all state-owned and large enterprises. Faced with a new world of financial transactions full of brutal competition, they still follow the old routine.

A set of rules and ideas for dealing with things,

Relying on national protection or preferential policies,

Insist on making money and getting rich,

The state of mind that the accident country pays the bill without feeling distressed will not help to deal with various events as the protagonist, and it will definitely

Will fail again and again. Therefore, we must renew our consciousness, adjust our mentality, renew our culture and learn from foreign advanced experience.

Attention includes absorbing advanced culture suitable for China enterprises.

Postscript: In the face of risks, always have awe.

The essence of risk management is to maximize the controllable field and completely control the results and us.

Minimize the areas with unclear causality. After years of development, the risk management of financial institutions has changed from the initial experience.

The era dominated by judgment has gradually transitioned to the era in which scientific methods and experiential art coexist. Today, China's finance

The important content of institutional risk management is to learn from modern risk quantification methods, supplemented by the wind that adapts to the big environment.

Insurance management organizational structure, internal control system, internal audit system and emergency measures, modern risk quantification technology and

Combine experience with art, build and improve the risk control system, and improve the risk management level of financial institutions.

It is undeniable that the extensive application of modern science and technology has enabled us to break through the shackles of the past. At the same time, we have

Become a slave to the new faith. In the process of risk quantification in recent ten years, science and technology have controlled the original

Future risks bring new risks. Excessive trust in technology makes derivatives a hedging tool.

Products have become speculative tools for many institutions to obtain high returns, which is accompanied by an unknown and unbearable wind.

Risk. Ignorance and arrogance will destroy us. In the face of risks, we always need to have awe.