商业银行的风险管理-一个分析的过程大学毕业论文外文文献翻译及原文
商业银行信贷风险管理外文翻译
文献信息：文献标题：Credit Risk Management Strategies and Their Impact on Performance of Commercial Banks in Kenya（信贷风险管理策略及其对肯尼亚商业银行绩效的影响）国外作者：Samuel Warui Mutua，Muoni Gekara文献出处：《Imperial Journal of Interdisciplinary Research》,2017, 3(4):1896-1904字数统计：英文2891单词，15678字符；中文4915汉字外文文献：Credit Risk Management Strategies and Their Impact on Performance of Commercial Banks in Kenya Abstract Credit risk management strategies are amongst the most critical factors to consider for any financial institution involved in any lending activity. Financial institutions have often find themselves making decisions between lending to potential borrowers thus effectively growing their balance sheets and effectively increasing their returns and being cautious in lending to caution themselves against any potential losses. Specifically, the research sought to examine credit risk management strategies and their impact on performance of commercial banks in Kenya. The research was guided by the liquidity theory of credit, portfolio theory, credit risk theory and the tax theory of credit.The research was based on a descriptive design which involves describing the current state of affairs by use of data collected through questionnaires and interviews. The research was focused on selected Tier III commercial banks in Kenya namely Consolidated Bank, African Banking Corporation and Credit Bank with reference to the loans department. The sampled population consists of 62 staff members from loans department of Consolidated Bank, African Banking Corporation and CreditBank. Primary data was collectedthrough the use of closed ended questionnaires, pick and drop procedure was used to collect data through use of the registered offices of the targeted loans departments of the target banks. Data analysis was done both quantitatively using tables and charts; this was then summarized, coded, tabulated and analyzed using both descriptive statistics and measures of variability with aid of SPSS package. Tables and graphs were used to present the data collected for ease of understanding and analysis. From the findings, the study concludes that credit risk management strategies including credit risk rating risks, credit approval risks, portfolio management risks and security perfection risks positively affect performance of commercial banks in Kenya.Key words: Credit risk management practices, commercial banks1.IntroductionCredit risk refers to the potential for loss as a resultof failure of counter party to meet their obligations of paying the financial institution according to the agreed terms. Credit exposures may arise from both banking and trading books. Management of credit risks requires a framework of well set out policies and procedures covering measurement and management of the credit risk (Barth et al, 2004).While financial institutions have faced difficulties over the years for a multitude of reasons, the major cause of serious banking problems continues to be directly related to lax credit standards for borrowers and counterparties, poor portfolio risk management, or a lack of attention to changes in economic or other circumstances that can lead to a deterioration in the credit standing of a bank’s counterparties. This experience is common in both the developed and developing countries.For most banks, loans are the largest and most obvious source of credit risk; however, other sources of credit risk exist throughout the activities of a bank,including in the banking book and in the trading book, and both on and off the balance sheet. Banks are increasingly facing credit risk (or counterparty risk) in various financial instruments other thanloans, including acceptances, interbank transactions, trade financing, foreign exchange transactions, financial futures, swaps,bonds, equities, options, and in the extension of commitments and guarantees, and the settlement of transactions.Each bank should develop a credit risk strategy or plan that establishes the objectives guiding thebank’s credit-granting activities and adopt the necessary policies and procedures for conducting such activities. The credit risk strategy, as well as significant credit risk policies, should be approved and periodically (at least annually) reviewed by the board of directors. The board needs to recognize thatthe strategy and policies must cover the many activities of the bank in which credit exposure is a significant risk (Haron et al, 2007).Credit Management is a financial management aspect that includes credit underwriting that encompasses analysis, approval, security perfection, portfolio management and debt recovery. Nzotta (2004) indicated that credit management directly influences the success or failures of financial institution involved in lending activities. He indicated that on the hindsight of lending being directly proportionalto the quantum of deposits received from the public, any unwise credit underwriting would translateto loss of depositors’ funds and losses to the financial institutions thereof.According to a report by Earnest and Young of 2013 on the banking environment in East Africa, it is reported that banks in Kenya, Tanzania, Uganda and Rwanda recorded growth rates in asset book of 16%, 14%, 13% and 12% respectively. This was on the advent of introduction of credit bureaus that was expected to improve on credit underwriting by improving decision making by 89% and effectively help reduce Non Performing portfolios across the board by 94%. Between the year 2009 and 2013, banks in Tanzania grew their CAGR by 17.5% with loans and advances outpacing overall asset growth which grew by 22.5% over the same period. In Uganda, the CAGR of banks grew by 13% whilst the growth in Rwanda was 12% in an economy that grew by 4.6%. In the period under review high loan provisioning occasioned by aggressive pursuit by various players to grow their balance sheets withouta simultaneous enhanced credit underwriting amongst other factors was highlighted as a reason high provisions were witnessed.Josiah Aduda and James Gitonga (2011) carried out a research on the relationship between credit risk management and profitability among the commercial banks in Kenya. They found out that a strong relationship does exist between credit management and profitability and that most banks held to this belief. Gatuhu (2011) conducted a research on the effect of financial performance of credit management on the financial performance of microfinance institutions in Kenya. Gatuhu found that there existed a strong relationship between credit appraisal of microfinance institutions, credit risk control and collection policy and the overall performance of microfinance institutions in Kenya. The period commencing second half of the year 2015 to the first half of 2016 witnessed particularly difficult times for the banking industry in Kenya with 3 out the then existing 43 commercial banks going under or being placed under statutory management. These were influenced by in one way directly or indirectly to issues revolving around weak credit management strategies.2.Statement of the ProblemThe main objective of any institution involved in money lending is to ensure that a healthy return is realized adequate to cover for all the risks assumedin addition to covering the foregone time value for money. In trying to attain this objective, prudence must be exercised to en sure that unnecessaryrisk isn’t taken that would most probably lead to unprecedented losses. It is for this reason that various institutions involved in money lending are guided by various frameworks to ensure care is exercised in making such decisions.There is an extensive literature on the managementof credit risk in commercial banks. Kealhofer (2003) did a research study on risk-adjusted performance measures in commercial banks. The measures, however, focus on risk-return trade-off, i.e. measuring the risk inherent in each activity and charge it accordingly for the capital required to support it. Greuning and Bratanovic (2003), studied sound credit granting process; maintaining an appropriate credit administration that involves monitoring process as well as adequate controls over credit risk.Clear established process for approving new credits and extending the existingcredits has been observed to be very important while managing credit risk (Heffernan, 2003). Mwirigi, (2006) didan assessment of the credit risk management techniques adopted by various MFIs in Kenya and ascertained that a considerable number of them had credit policies to enable them make informed credit decisions that stroke a balance between businessandrisk perspectives. Ndwiga, (2010) and Chege, (2010) both did a research to ascertain the relationship between credit risk management and the financial performance of MFIs in Kenya.There is no known study that has been done on strategic credit policies for risk management, thus knowledge gap. This study aims at establishing the credit risk management used by commercial banks and how they affect performance of the commercial banks. This research study is motivated to bridge the gap by investigating credit risk management strategies employed by commercial banks, especially Tier III banks in Kenya and how this impacts on their financial performance. In the commercial banks, management of credit risk has caused bank losses in developing countries, including Kenya. Effective credit risk management system minimizes the credit risk, hence the level of loan losses.3.Theoretical Review3.1.Liquidity Theory of CreditThis theory, first proposed by (Emery, 2009), proposes that credit rationed firms use more trade credit than those with normal access to financial institutions. The central point of this notion is that when a firm is financially inhibited the offer of trade credit can make up for the decline of credit offer from lending institutions.Inaccordwith thisview,those firms presenting good liquidity or better access to capital markets can finance those that are credit rationed. Several methodologies have tried to obtain empirical confirmation in order to support this assumption. Nielsen (2012), using small firms as proxy for credit rationed firms, firms find that when there is liquidity tightening in the economy, to ensure their sustainability, they are obligated to advance credit terms to their customers. As financially liberal firms are less likely to seek trade credit terms and more likely toextend the same, a negative relation between a buyers’ access to other sources of financing and trade credit is expected. (Petersen & Rajan, 2007) obtained evidence supporting this negative relation.3.2.Portfolio TheoryPortfolio theory of investment tries to optimize the expected portfolio return for a given proportion of portfolio risk or equivalently decrease the risk for a given level of anticipated return, by carefully choosing the mixed proportions of several assets. Portfolio theory is extensively used in practice in the financial sector and several of its inventors won a Nobel Prize for the same. In modern years the basic portfolio theory has been widely criticized by fields such as behavioral economics (Markowitz, 1952). Portfolio theory was devel oped in 1950’s all through to the early 1970’s and was considered a vital progression in the mathematical modeling of finance. Many theoretical and practical criticisms have since been developed against the same. This include the fact that financial returns do not follow a Gaussian distribution or indeed any symmetric distribution and those correlations between asset classes (Sproul, 1998)3.3.Tax Theory of CreditThe rationale of whether or not to accept a trade credit is based on the ability to access other sources of finances. A buyer is obliged to compare different financing options to find out which will be the most economically viable for them in making cost savings. In any business deal, payment may be on the spot or deferred to a date in the future, in which case a deferred cost element is attached to it in the form of interest. Thus, to find the best sources of funding, the buyer ought to investigate the real cost of borrowing. (Brick and Fung, 1984) suggest that, the tax effect should be considered in order to compare the trade credit cost with the cost of other financing options. The main reason for this is that if sellers and buyers are in different tax brackets, they have different costs of borrowing as their interests are tax allowable. The autho rs’ hypothesis is that; businesses in a high tax bracket tend to advance more trade credit thanthosein low brackets. Subsequently, only buyers in a low tax bracket than the seller will accept credit terms, since those in a higher tax brackets couldborrow more cheaply and directly from a financial organization. Another assumption is that businesses associated with a given sector and placed in a tax bracket below the specific sector average; cannot benefit from offering trade credit. Thus, (Brick and Fung 1984) propose that firms can’t use and offer trade credit.3.4.Credit Risk TheoryUntil barely the 1970s’, Credit risk had not been widely studied, although people have been facing credit risk ever since the very early times. Before 1974, early literature on credit risk used traditional actuarial methods of assessing the same, whosemajor challenge lies in their extensive dependence on historical data. Up to now there are three quantitative approaches of analyzing credit risk: structural approach, reduced form appraisal and incomplete information approach (Crosbie et al, 2003). Melton 1974, presented the credit risk theory else called the structural theory; which said the default event originates from a firm’s asset development displayed by a diffusion process with constant parameters.Such models are ordinarily defined as ‘Structural model’ and based on variables connected to a particular issuer. An evolution of this grouping is characterized by asset of models where the loss provisional on default is exogenously precise. In these models, the nonpayment can happenthroughout all the life of a corporate bond and not only at maturity (Longstaff and Schwartz, 1995).4.MethodologyThe study used descriptive research designAccording to Oso and Onen (2009) prior to carrying out the study there is need to determine the respondents, the data collection procedures, tools and instruments which would aid in data collection. According to Kothari, 2007. It involves describing the current state of affairs by use of data collected through questionnaires and interviews. Descriptive research design is qualitative whose main purpose is description of the state of affairs as it exists.Descriptive research seeks to establish factors associated with certain occurrences, outcomes, conditions or types of behavior. A complete set of people, events or objects from which the study seeks to generalize the results is known aspopulation (Mugenda, 2009). The study will concentrate on the 20 Tier III Commercial Banks Licensed by Central Bank of Kenya.Stratified sampling technique will be used in the collectionofsampleswherethe20TierIIIcommercial banks will be stratified into three categories which are; Government owned, Local Investors owned and Foreign Investor owned, further into male and female, also a mix of Experienced Managers, Senior Officers and Junior Credit officers, out of which 62 Employees will be selected to participate in the study. Purposive sampling will also be used so as to include Heads of Credit Units and also ensure all key credit operational areas are covered in the sample.In this study, a population consists of 62 staff from loans department of Consolidated Bank, African Banking Corporation and Credit Bank.The main tool for data collection in this study was a questionnaire. A closed ended questionnaire was preferred. The questions were designed based on Likert scale which allowed the respondentsto express their view on the study variables. According to Kothari (2007) open - ended questions allow respondents to give answers in their own way, whilst Closed - ended questions or forced choice questions provide an assortment of alternative answers from which the respondent is constrained to choose.The data collected was analyzed and interpretations drawn based on the analysis. Descriptive statistics was used in the analysis of quantitative data. The statistical tool for the analysis was the statistical package for the social sciences (SPSS) Version 20, which was used to analyze the data whereby the questionnaires would be coded and frequency distributions and percentages run.5.ConclusionsThey have a positive significant relationship on performance of commercial banksin Kenya. Sound credit rating mechanism is perceived as a great contributor towards the performance of credit facilities in commercial banks. This by and large affects the performance of the banks as a whole since the banks’ profitability are hinged on its credit services. There needs to be frequent credit trainings to improve onstaff competencies to ensure they are always kept abreast with developments in the industry to ensure appropriate credit underwriting is always done, this will inturn ensure, proper segmentation and accounts review is also done with an aim to ensure the credit element in a bank is well covered.There is need for inclusion of collateral appraisal. Since the credit approval risks are in turn influenced by therisk appetite of various commercial banks, a matrix acceptable to all banks based on factors such as capital strength and customer bases should be developed to ensure that an institution doesn’t necessarily take up risks that is too high that might impairably damage their overall financial strength and health should any unprecedented shocks materialize due to the risks taken by a bank.There is however need to review the provision requirementsas detailed by the Prudential Guidelines (PGs) to realign the same with the evolving banking environment which has seen a significant shift since the PGs were last reviewed. An all-inclusive forumto realign the provision requirement should be held between all the relevant stakeholders including the regulator (CBK) and the Commercial banks to arrive at ideal reviewed rates in line with the evolved banking environment.There is however need for Tier III banks to be more risk averse to unsecured lending and opt for asset backed lending. This is more so influencedby the fact that their balance sheets are relatively smaller which makes them unable to withstand shocks that may emanate from provisioning that would be occasionedby higherrequirements toprovision forthe unsecured borrowings or weakly secured exposures.中文译文：信贷风险管理策略及其对肯尼亚商业银行绩效的影响摘要信用风险管理策略是所有参与贷款活动的金融机构最重要的考虑因素之一。
商业银行信用卡风险管理外文文献翻译最新译文
商业银行信用卡风险管理外文文献翻译最新译文This article discusses the importance of credit risk management for commercial banks。
Credit risk is a major concern for banks as it can lead to XXX methods used by banks to manage credit risk。
including credit scoring。
credit limits。
and loanXXX to credit risk management。
The article XXX of credit risk to ensure the long-term XXXCredit risk management is a XXX to manage credit risk XXX。
it is essential for banks to adopt us methods to manage credit risk。
These methods include credit scoring。
credit limits。
and loanXXX are used to limit the amount of credit XXXXXX credit risk management。
The credit risk management department should work XXX departments。
such as lending and complianceXXX。
XXX that they are aware of the latest developments in credit risk management。
XXX of credit risk are critical for the long-term XXX that they are effective and up-to-date。
商业银行风险管理分析的过程
商业银行风险管理分析的过程外文文献翻译译文一、外文原文原文:Commercial Bank Risk Management: an Analysis of the ProcessWhat Type of Risk Is Being Considered?Commercial banks are in the risk business. In the process of providing financial services, they assume various kinds of financial risks. Over the last decade our understanding of the place of commercial banks within the financial sector has improved substantially. Over this time, much has been written on the role of commercial banks in the financial sector, both in the academic literature and in the financial press. These arguments will be neither reviewed nor enumerated here. Suffice it to say that market participants seek the services of these financial institutions because of their ability to provide market knowledge, transaction efficiency and funding capability. In performing these roles they generally act as a principal in the transaction, As such, they use their own balance sheet to facilitate the transaction and to absorb the risks associated with it.To be sure, there are activities performed by banking firms which do not have direct balance sheet implications. These services include agency and advisory activities such as (i) trust and investment management, (ii) private and public placements through "best efforts" orfacilitating contracts, (iii) standard underwriting through Section 20 Subsidiaries of the holding company, or (iv) the packaging, securitizing, distributing and servicing of loans in the areas of consumer and real estate debt primarily. These items are absent from the traditional financial statement because the latter rely on generally accepted accounting procedures rather than a true economic balance sheet. Nonetheless, the overwhelming majority of the risks facing the banking firm is in on-balance-sheet businesses. It is in this area that the discussion of risk management and the necessary procedures for risk management and control has centered. Accordingly, it is here that our review of risk management procedureswill concentrate.What Kinds Of Risks Are Being Absorbed ?The risks contained in the bank's principal activities, i.e., those involving its own balance sheet and its basic business of lending and borrowing, are not all borne by the bank itself. In many instances the institution will eliminate or mitigate the financial risk associatedwith a transaction by proper business practices; in others, it willshift the risk to other parties through a combination of pricing and product design.The banking industry recognizes that an institution need not engagein business in a manner that unnecessarily imposes risk upon it; nor should it absorb risk that can be efficiently transferred to other participants. Rather, it should only manage risks at the firm level thatare more efficiently managed there than by the market itself or by their owners in their own portfolios. In short, it should accept only those risks that are uniquely a part of the bank's array of services. Elsewhere, Oldfield and Santomero (1997), it has been argued that risks facing all financial institutions can be segmented into three separable types, from a management perspective. These are:(i) risks that can be eliminated or avoided by simple business practices,(ii) risks that can be transferred to other participants, and,(iii) risks that must be actively managed at the firm level.In the first of these cases, the practice of risk avoidance involves actions to reduce the chances of idiosyncratic losses from standard banking activity by eliminating risks that are superfluous to the institution's business purpose. Common risk avoidance practices here include at least three types of actions.Thestandardization of process, contracts and procedures to prevent inefficient or incorrect financial decisions is the first of these. The construction of portfolios that benefit from diversification across borrowers and that reduce the effects of any one loss experience is another. Finally, the implementation of incentive-compatible contracts with the institution's management to require that employees be held accountable is the third. In each case the goal is to rid the firm of risks that are not essential to the financial service provided, or to absorb only an optimal quantity of a particular kind of risk.There are also some risks that can be eliminated, or at least substantially reduced through the technique of risk transfer. Markets exist for many of the risks borne by the banking firm. Interest raterisk can be transferred by interest rate products such as swaps or other derivatives. Borrowing terms can be altered to effect a change in their duration. Finally, the bank can buy or sell financial claims todiversify or concentrate the risks that result in from servicing its client base. To the extent that the financial risks of the assets created by the firm are understood by the market, these assets can be sold at their fair value. Unless the institution has a comparative advantage in managing the attendant risk and/or a desire for the embedded risk they contain,there is no reason for the bank to absorb such risks, rather than transfer them.However, there are two classes of assets or activities where therisk inherent in the activity must and should be absorbed at the bank level. In these cases, good reasons exist for using firm resources to manage bank level risk. The first of these includes financial assets or activities where the nature of the embedded risk may be complex and difficult to communicate to third parties. This is the case when the bank holds complex and proprietary assets that have thin, if not non-existent, secondary markets. Communication in such cases may be more difficult or expensive than hedging the underlying risk. Moreover, revealing information about the customer may give competitors an undue advantage. The second case included proprietary positions that areaccepted because of their risks, and their expected return. Here, risk positions that are central to the bank's business purpose are absorbed because they are the raison d'etre of the firm. Credit risk inherent in the lending activity is a clear case in point, as is market risk for the trading desk of banks active in certain markets. In all such circumstances, risk is absorbed and needs to be monitored and managed efficiently by the institution. Only then will the firm systematically achieve its financial performance goal.Why Do Banks Manage These Risks At All ?It seems appropriate for any discussion of risk managementprocedures to begin with why these firms manage risk. According to standard economic theory, managers of value maximizing firms ought to maximize expected profit without regard to thevariability around its expected value. However, there is now a growing literature on the reasons for active risk management including the work of Stulz (1984), Smith, Smithson and Wolford (1990), and Froot, Sharfstein and Stein (1993) to name but a few of the more notable contributions. In fact, the recent review of risk management reported in Santomero (1995) lists dozens of contributions tothe area and at least four distinct rationales offered for active risk management. These include managerial self-interest, the non-linearity of the tax structure, the costs of financial distress and the existence of capital market imperfections. Any one of these justify the firms' concern over return variability, as the above-cited authors demonstrate.How Are These Risks Managed ?In light of the above, what are the necessary procedures that mustbe in place to carry out adequate risk management? In essence, what techniques are employed to both limit and manage the different types of risk, and how are they implemented in each area of risk control? It is to these questions that we now turn. After reviewing the procedures employed by leading firms, an approach emerges from an examination of large-scale risk management systems. The management of the banking firm relies on a sequence of steps to implement a risk management system. These can be seen as containing the following four parts:(i) standards and reports,(ii) position limits or rules,(iii) investment guidelines or strategies,(iv) incentive contracts and compensation.In general, these tools are established to measure exposure, define procedures to manage these exposures, limit individual positions to acceptable levels, and encourage decision makers to manage risk in a manner that is consistent with the firm's goals and objectives. To see how each of these four parts of basic risk management techniques achieves these ends, we elaborate on each part of the process below. In Section IV we illustrate how these techniques are applied to manage each of the specific risks facing the banking community.(i)Standards and ReportsThe first of these risk management techniques involves two different conceptual activities, i.e., standard setting and financial reporting. They are listed together because they are the sine qua non of any risk system. Underwriting standards, risk categorizations, and standards of review are all traditional tools of risk management and control. Consistent evaluation and rating of exposures of various types are essential tounderstand the risks in the portfolio, and the extent to which these risks must be mitigated or absorbed.The standardization of financial reporting is the next ingredient. Obviously outside audits, regulatory reports, and rating agency evaluations are essential for investors to gauge asset quality and firm level risk. These reports have long been standardized, for better or worse. However, the need here goes beyond public reports and audited statements to the need for management information on asset quality and risk posture. Such internal reports need similar standardization and much more frequent reporting intervals, with daily or weekly reports substituting for the quarterly GAAP periodicity.(ii) Position Limits and RulesA second technique for internal control of active management is the use of position limits,and/or minimum standards for participation. In terms of the latter, the domain of risk taking is restricted to only those assets or counterparties that pass some prespecified quality standard. Then, even for those investments that are eligible, limits are imposed to cover exposures to counterparties, credits, and overallposition concentrations relative to various types of risks. While such limits are costly to establish and administer, their impositionrestricts the risk that can be assumed by any one individual, and therefore by the organization as a whole. In general, each person who can commit capital will have a well-defined limit. This applies to traders, lenders, and portfolio managers. Summary reports show limits as well as current exposure by business unit on a periodic basis. In large organizations with thousands of positions maintained, accurate andtimely reporting is difficult, but even more essential.(iii) Investment Guidelines and StrategiesInvestment guidelines and recommended positions for the immediate future arethe third technique commonly in use. Here, strategies are outlinedin terms of concentrations and commitments to particular areas of the market, the extent of desired asset-liability mismatching or exposure, and the need to hedge against systematic risk of a particular type.The limits described above lead to passive risk avoidance and/or diversification, because managers generally operate within position limits and prescribed rules. Beyond this, guidelines offer firm level advice as to the appropriate level of active management, given the state of the market and the willingness of senior management to absorb the risks implied by the aggregate portfolio. Such guidelines lead to firm level hedging and asset-liability matching. In addition, securitization and even derivative activity are rapidly growing techniques of positionmanagement open to participants looking to reduce their exposure to bein line with management's guidelines.(iv) Incentive SchemesTo the extent that management can enter incentive compatible contracts with line managers and make compensation related to the risks borne by these individuals, then the need for elaborate and costly controls is lessened. However, such incentive contracts require accurate position valuation and proper internal control systems. Such tools which include position posting, risk analysis, the allocation of costs, and setting of required returns to various parts of the organization are not trivial. Notwithstanding the difficulty, well-designed systems align the goals of managers with other stakeholders in a most desirable way. In fact, mostfinancial debacles can be traced to the absence of incentive compatibility, as the cases of the deposit insuranceand maverick traders so clearly illustrate.Bank Risk Management SystemsThe banking industry has long viewed the problem of risk management as the need to control four of the above risks which make up most, if not all, of their risk exposure, viz., credit, interest rate, foreign exchange and liquidity risk. While they recognize counterparty and legal risks, they view them as less central to their concerns. Where counterparty risk is significant, it is evaluated using standard credit riskprocedures, and often within the credit department itself. Likewise, most bankerswould view legal risks as arising from their credit decisions or, more likely, properprocess not employed in financial contracting.Source: Anthony M. Santomero,1997. “Commercial Bank Risk Management: an Analysis of the Process”.the wharton school university of pennsylvania,February,pp.101-129.二、翻译文章译文:商业银行风险管理:分析的过程什么类型的风险是被考虑的?商业银行风险的业务。
商业银行信用卡风险管理外文文献翻译最新译文
文献出处：Nicely E. The research of commercial bank credit risk management [J]. Research in International Business and Finance, 2015, 8(2): 17-26.原文The research of commercial bank credit risk managementNicely EAbstractCommercial bank credit card business risk management broad sense refers to the commercial bank credit card business, because of various unfavorable factors caused by the issuers, cardholders, specially engaged the possibility of loss. Credit risk refers to the pure credit for credit CARDS are unsecured loans, and credit is not high, the customer more than individual, as well as small amount of single feature, lead to the possibility of loss of card issuers. Through to the commercial Banks to do a good job of credit card risk management put forward the Suggestions and comments, and pay attention to the risks of commercial Banks to establish perfect management system, system, business process research, and put forward the commercial Banks in establishing a system of credit card business management structure, regulations, at the same time, want to notice to each kind of risk identification, measurement, assessment and do a good job in risk loss provisions in personnel management, should pay attention to establish risk rewards and punishment mechanism, pay attention to the positive incentives to the employees.Keywords: Credit CARDS; Risk management; Incentive mechanism1 IntroductionCredit card refers to the bank issued to individuals and units, with the function such as shopping, consumption and access cash bank card. Its striking feature is that the Banks granted to customer a certain line of credit, customers can enjoy the privilege of the reimbursement after be being card first, its form is a positive with the issuing bank name, the period of validity, card number, card, the cardholder's name, article with a magnetic stripe, signature on the back of the information such as bank CARDS. We now call the credit card, generally refers to borrow write down card. Credit risk refers to the bank credit card holders for various reasons failed to fullyrepay bank debt and cause the possibility of default, defaults, bank will because the cardholder does not thereby causing loss to the bank funds paid promptly. Credit card main risk including fraud risk, credit risk, operational risk, accredit card risk management refers to in the process of credit card business, the possible including fraud risk, credit risk, operational risk, etc, all kinds of risk management and control is to reduce the possibility of loss The loss rate of operation and management activities.2 Literature reviewThe concept of risk management since the 30 s of 20th century, after nearly 40 years of development to form a system, gradually by people began to attach importance to and cognition, form a new management discipline. The concept of risk mainly comes from the insurance industry, insurance for risk defined as the uncertainty of loss. In 1964, the United States of the risk management and insurance, it has made the definition: risk book points out that through the risk identification, assessment, and control to achieve with minimum cost to make a management method of minimizing the risk loss. In 1976, eight Gerry, in his book, the risk management of international enterprise, points out that protection of enterprise's financial stability, reduce the loss caused by risk events is the main goal of the enterprise risk management. In 1975, risk management and insurance management society, scholars from all over the world including general principles, risk management was determined by the talk of risk identification and measurement, risk control and other criteria. The establishment of these guidelines, marks all over the world, risk management theory with the preliminary development, management framework has been set up. Also marks the risk management has entered a new stage. In July 2004, Basel 2 rules on commercial Banks, puts forward a new risk management requirements, he fully considered for the bank including market risk, liquidity risk, credit risk and operational risk, a variety of provide for risk identification, risk measurement standard, make risk management work more accurate quantitative measurement. In 2004, the COSO committee issued "enterprise risk management integrated framework", put forward by the enterprise internal control into risk control as the main direction of management thinking. Puts forward the concept of comprehensive risk management,including internal environment, goal setting, time identification, risk evaluation, risk countermeasure, control activities, information and communication and so on eight aspects. American engineer bill fair and Earl joint research and development of the FICO credit score model, since the most card issuers have also been used this model. This model gives the credit scoring system out of a possible 900 points, according to the situation of the borrower's credit history and compare the data with other borrowers, given the borrower credit situation trend in the future.3 Credit card risk3.1 Credit card cash outCredit card cash out to merchants with the bad cardholders or other third party in collusion, or merchants themselves by credit card as the carrier, through the fictitious transactions, asking price, cash return, show the credit card credit behavior, including but not limited to: merchants and cardholders conspired to use point-of-sale terminals (POS), with fictitious transactions, falsely making out the price, cash returns to the behavior of the cardholders to pay cash directly; Or merchants to help paid the cardholder account overdraft, after using the POS machine will advances in fictitious trading way back to their accounts, and collect fees to the cardholder a card such as behavior; Or online merchants cardholders conspired to fictional price, false transactions, such as buying from selling the way, show the credit card for trafficking in fraudulent credit card Internet consumption credit, etc.3.2 False card stolen brushFalse card stolen brush refers to criminals use false card on the POS terminal for credit card transactions to steal bank funds, belong to the important type of fraud. Criminals often by merchants, independent bank terminals, as well as a variety of convenient payment terminal channels, using dedicated track record the equipment needed for the bank card information side track information through various channels, such as the Internet or buy others have steal bank card track information, password access usually by peeping in the cardholder spending places the cardholder password or independent in ATM equipment installed video cameras record customer password, even through ATM keyboard paste, such as false record customer password keyboard,or using client code, easy to guess the cardholder password and other means to obtain the cardholder password.3.3 Online payment fraudOnline payment fraud refers to the fraud part swindled through Internet channels and the cardholder's bank. On-line payment fraud mainly by non-financial institutions or commercial Banks provide online payment channel for fraud. Current fraud activists by phishing site, bank card fraud or Trojan virus, characterized by use of phishing site or Trojan virus to steal the cardholder's bank card number, password and verification code information, phishing cardholders to online trading, to defraud money. Or commercial bank online banking channel for bank card fraud, fraud part using bank online banking vulnerabilities, and the weak link in the online banking fraud.3.4 Operating riskPrevention and control of credit card operation risk, first, to find a good risk points, find out in the hairpin and post-loan risk prone link in the entire process, find out the risk points, and then control the risk. Credit card's life cycle is divided into application stage, audit stage, hairpin used to send phase, activation and post-loan management, such as card renewal phase. First by the applicant voluntarily to the commercial bank to apply for or commercial bank marketing personnel to promote credit card products to the applicant, the applicant according to the guidance of sales people to fill out credit card application form after the above requirements to fill out information, to submit proof of identity is required by the application, work proves that the domicile certificate materials, such as bank marketing personnel will be the applicant's application form submitted to the bank's examination and approval department, by a bank according to the customer qualification examination and approval department for credit card mail after examination and approval to the customer. Customers call the bank customer service special line opened activate the card, the card can normal use, generally the validity of the credit card for 3 ~ 5 years according to the process of the life cycle of credit card sorting operation risk points exist in the whole cycle.4 Conclusions and recommendationsFalse card stolen brush loss brings to the commercial Banks, cardholders Carrie's money is missing, tend to give the feeling of cardholders' money in the bank is not safe, affect the reputation of the bank, bring bank reputation risk. In the process of pursuing for unauthorized, if not solve in time, often commercial Banks must bear a lot of damage. Due to false card stolen brush is not tight to bank losses, and seriously affected the reputation of the bank. So focus on guard against the risk of false card stolen brush is the key of the bank fraud risk control. Commercial bank credit card business is strengthening risk prevention. To do the following: to strengthen the education of the cardholder and prevent unauthorized knowledge propaganda, tip card holders do not use the card to the others, pay attention to protect the password in the daily charge without being stolen. Strengthen the bank back transaction monitoring, summarizes the characteristics of the pseudo card stolen brush, such as the combination of false card stolen brush is easy to occur before time, business category, unauthorized ongoing balance inquiry, around zero, fraud part of bank daily trading limit restrictions for unauthorized transaction monitoring rules set by the characteristics. When the transaction behavior, identity card and cardholders are found not to conform or high transaction should contact the cardholder to confirm authenticity, to confirm that the cardholder to authorize the transaction after I deal correct. Effectively raise Banks to prevent false card stolen brush ability of risk prevention and control. Magnetic stripe card renewal work done as soon as possible because the bank magnetic stripe card refers to magnetic materials for storage medium, such as bank account information recorded in the magnetic stripe CARDS, magnetic stripe card is easy to be copied to the bank money loss, therefore at present a lot of Banks have begun to bank card renewal work, with good safety performance of financial IC card instead of bank magnetic stripe card. In addition, improve the incentive mechanism construction of risk management, on the basis of regular and irregular in the risk assessment results, good for the risk assessment results, comprehensive risk management framework construction perfect mechanism, through the authorization for adjustment, performance ratings, priority support to start newbusiness delegation, adjustment factors of business innovation, management, can be appropriately in the human resources and cost allocation give policy tilt, can give points in performance appraisal review. For risk management body have made outstanding contributions or reduce loss of major risk events offer certain material and spiritual reward employees, and on the personal career advancement channels give sufficient consideration; For all kinds of risk management talents, external training, qualification certification, access to exchange offer certain aspects such as policy tilt, and on the personal career advancement channels will be given full consideration. For all kinds of risk management talents, external training, qualification certification, access to exchange offer certain aspects such as policy tilt, and on the personal career advancement channels will be given full consideration.译文商业银行信用卡风险管理研究Nicely E摘要商业银行信用卡业务风险管理广义上讲是指在商业银行信用卡业务经营中，因各种不利因素而导致的发卡机构、持卡人、特约商户等损失的可能性。
商业银行风险管理中英文对照外文翻译文献
商业银行风险管理中英文对照外文翻译文献(文档含英文原文和中文翻译)“RISK MANAGEMENT IN COMMERCIAL BANKS”(A CASE STUDY OF PUBLIC AND PRIVATE SECTOR BANKS) - ABSTRACT ONLY1. PREAMBLE:1.1 Risk Management:The future of banking will undoubtedly rest on risk management dynamics. Only those banks that have efficient risk management system will survive in the market in the long run. The effective management of credit risk is a critical component of comprehensive risk management essential for long-term success of a banking institution. Credit risk is the oldest and biggest risk that bank, by virtue of its very nature of business, inherits. This has however, acquired a greater significance in the recent past for various reasons. Foremost among them is the wind of economic liberalization that is blowing across the globe. India is no exception to this swing towards market driven economy. Competition from within and outside the country has intensified. This has resulted in multiplicity of risks both in number and volume resulting in volatile markets. A precursor to successful management of credit risk is a clear understanding about risks involved in lending, quantifications of risks within each item of the portfolio and reaching a conclusion as to the likely composite credit risk profile of a bank.The corner stone of credit risk management is the establishment of a framework that defines corporate priorities, loan approval process, credit risk rating system, risk-adjusted pricing system, loan-review mechanism and comprehensive reporting system.1.2 Significance of the study:The fundamental business of lending has brought trouble to individual banks and entire banking system. It is, therefore, imperative that the banks are adequate systems for credit assessment of individual projects and evaluating risk associated therewith as well as the industry as a whole. Generally, Banks in India evaluate a proposal through the traditional tools of project financing, computing maximum permissible limits, assessing management capabilities and prescribing a ceiling for an industry exposure. As banks move in to a new high powered world of financial operations and trading, with new risks, the need is felt for more sophisticated and versatile instruments for risk assessment, monitoring and controlling risk exposures. It is, therefore, time that banks managements equip themselves fully to grapple with the demands of creating tools and systems capable of assessing, monitoring and controlling risk exposures in a more scientific manner.Credit Risk, that is, default by the borrower to repay lent money, remains the most important risk to manage till date. The predominance of credit risk is even reflected in the composition of economic capital, which banks are required to keep a side for protection against various risks. According to one estimate, Credit Risk takes about 70% and 30%remaining is shared between the other two primary risks, namely Market risk (change in the market price and operational risk i.e., failure of internal controls, etc.). Quality borrowers (Tier-I borrowers) were able to access the capital market directly without going through the debt route. Hence, the credit route is now more open to lesser mortals (Tier-II borrowers).With margin levels going down, banks are unable to absorb the level of loan losses. There has been very little effort to develop a method where risks could be identified and measured. Most of the banks have developed internal rating systems for their borrowers, but there hasbeen very little study to compare such ratings with the final asset classification and also to fine-tune the rating system. Also risks peculiar to each industry are not identified and evaluated openly. Data collection is regular driven. Data on industry-wise, region-wise lending, industry-wise rehabilitated loan, can provide an insight into the future course to be adopted.Better and effective strategic credit risk management process is a better way to Manage portfolio credit risk. The process provides a framework to ensure consistency between strategy and implementation that reduces potential volatility in earnings and maximize shareholders wealth. Beyond and over riding the specifics of risk modeling issues, the challenge is moving towards improved credit risk management lies in addressing banks’readiness and openness to accept change to a more transparent system, to rapidly metamorphosing markets, to more effective and efficient ways of operating and to meet market requirements and increased answerability to stake holders.There is a need for Strategic approach to Credit Risk Management (CRM) in Indian Commercial Banks, particularly in view of;(1) Higher NPAs level in comparison with global benchmark(2) RBI’ s stipulation about dividend distribution by the banks(3) Revised NPAs level and CAR norms(4) New Basel Capital Accord (Basel –II) revolutionAccording to the study conducted by ICRA Limited, the gross NPAs as a proportion of total advances for Indian Banks was 9.40 percent for financial year 2003 and 10.60 percent for financial year 20021. The value of the gross NPAs as ratio for financial year 2003 for the global benchmark banks was as low as 2.26 percent. Net NPAs as a proportion of net advances of Indian banks was 4.33 percent for financial year 2003 and 5.39 percent for financial year 2002. As against this, the value of net NPAs ratio for financial year 2003 for the global benchmark banks was 0.37 percent. Further, it was found that, the total advances of the banking sector to the commercial and agricultural sectors stood at Rs.8,00,000 crore. Of this, Rs.75,000 crore, or 9.40 percent of the total advances is bad and doubtful debt. The size of the NPAs portfolio in the Indian banking industry is close to Rs.1,00,000 crore which is around 6 percent of India’ s GDP2.The RBI has recently announced that the banks should not pay dividends at more than 33.33 percent of their net profit. It has further provided that the banks having NPA levels less than 3 percent and having Capital Adequacy Reserve Ratio (CARR) of more than 11 percent for the last two years will only be eligible to declare dividends without the permission from RBI3. This step is for strengthening the balance sheet of all the banks in the country. The banks should provide sufficient provisions from their profits so as to bring down the net NPAs level to 3 percent of their advances.NPAs are the primary indicators of credit risk. Capital Adequacy Ratio (CAR) is another measure of credit risk. CAR is supposed to act as a buffer against credit loss, which isset at 9 percent under the RBI stipulation4. With a view to moving towards International best practices and to ensure greater transparency, it has been decided to adopt the ’ 90 days’ ‘ over due’ norm for identification of NPAs from the year ending March 31, 2004.The New Basel Capital Accord is scheduled to be implemented by the end of 2006. All the banking supervisors may have to join the Accord. Even the domestic banks in addition to internationally active banks may have to conform to the Accord principles in the coming decades. The RBI as the regulator of the Indian banking industry has shown keen interest in strengthening the system, and the individual banks have responded in good measure in orienting themselves towards global best practices.1.3 Credit Risk Management(CRM) dynamics:The world over, credit risk has proved to be the most critical of all risks faced by a banking institution. A study of bank failures in New England found that, of the 62 banks in existence before 1984, which failed from 1989 to 1992, in 58 cases it was observed that loans and advances were not being repaid in time 5 . This signifies the role of credit risk management and therefore it forms the basis of present research analysis.Researchers and risk management practitioners have constantly tried to improve on current techniques and in recent years, enormous strides have been made in the art and science of credit risk measurement and management6. Much of the progress in this field has resulted form the limitations of traditional approaches to credit risk management and with the current Bank for International Settlement’ (BIS) regulatory model. Even in banks which regularly fine-tune credit policies and streamline credit processes, it is a real challenge for credit risk managers to correctly identify pockets of risk concentration, quantify extent of risk carried, identify opportunities for diversification and balance the risk-return trade-off in their credit portfolio.The two distinct dimensions of credit risk management can readily be identified as preventive measures and curative measures. Preventive measures include risk assessment, risk measurement and risk pricing, early warning system to pick early signals of future defaults and better credit portfolio diversification. The curative measures, on the other hand, aim at minimizing post-sanction loan losses through such steps as securitization, derivative trading, risk sharing, legal enforcement etc. It is widely believed that an ounce of prevention is worth a pound of cure. Therefore, the focus of the study is on preventive measures in tune with the norms prescribed by New Basel Capital Accord.The study also intends to throw some light on the two most significant developments impacting the fundamentals of credit risk management practices of banking industry – New Basel Capital Accord and Risk Based Supervision. Apart from highlighting the salient features of credit risk management prescriptions under New Basel Accord, attempts are made to codify the response of Indian banking professionals to various proposals under the accord. Similarly, RBI proposed Risk Based Supervision (RBS) is examined to capture its direction and implementation problems。
中英文对照外文文献 计划风险管理中英文对照外文翻译文献
中英文对照外文文献计划风险管理中英文对照外文翻译文献导读：就爱阅读网友为您分享以下“计划风险管理中英文对照外文翻译文献”资讯，希望对您有所帮助，感谢您对的支持!计划风险管理中英文对照外文翻译文献计划风险管理中英文对照外文翻译文献(文档含英文原文和中文翻译)原文：Schedule Risk ManagementINTRODUCTIONSchedule risks are both threats and opportunities to the success of a project. Threats tend to reduce the success ofmeeting the project goals and opportunities tend to increase the success. Risk management is the process of identifying, analyzing, qualifying and quantifying the risks, and developing a plan to deal with them. This is routinely done during baseline schedule development as well as during schedule updates. Implementation of risk. .1计划风险管理中英文对照外文翻译文献management starts with early planning in both budgetary cost estimating and preliminary master scheduling in order to determine budgets and schedules with a comfortable level of confidence in the completion date and final cost.While there are entire volumes addressing risk in construction projects, it is important to note that the issue of time-related risk has not been universally incorporated into planning. Assessing cost risk is more intuitive, and very often addressed through the use of heuristics, so it has become more of a standard of the industry than time-related risk management. Most estimators will automatically add a contingency toa cost estimate to cover the risk of performance based on the type of project and circumstances pertaining to theundertaking of the project. Estimators estimate this contingency using their own rules of thumb developed over years of estimating as well as estimate ingmanuals，such as Means’Cost Data or Cost Works. However, when it comes todeveloping the critical path method (CPM) schedules, risk management is often overlooked or underestimated.The purpose of this chapter is to provide an overview of risk management and the assessment process as well as best practices for incorporation of risk management into CPM schedule development and maintenance. For more detailed information about schedule risk, the reader should refer to risk management books, particularly those that focus on project management. One of the best resources available is David Hulett’s new book, Practical Schedule. .2计划风险管理中英文对照外文翻译文献Risk Analysis.Any risk management program starts with a good and accurate CPM schedule, created through the use of best practices and checked for quality, reasonableness, and appropriateness of the network model. Without awell-designed and developed CPM baseline schedule, a risk management process will not be effective. The risk analysis depends upon accurate and consistent calculations of the network logic, the appropriateness of the sequencing and phasing, and a reasonable approach to estimating activity durations.Most CPM schedules are not adjusted for risk but rather are developed as if there were one right answer for the schedule’s numerical data. Generally, activity durations are established by calculation of the quantity of work represented by an activity divided by the production rate, or by sheer ‘‘gut feeling’’of the project manager or crew leader. This production rate is normally established by the contractor’s historical records or an estimating system, such as Means’, that provides an accurate data base of average production rates. Once those durations are calculated, they are often used as deterministic values, which assumes that the durations are accurate and unlikely to change. This assumption ignores the fact that the schedule is attempting to predict how long it will take to complete an activity at some unknown time in the future,using an unknown crew composition, with variableexperience, and working. .3计划风险管理中英文对照外文翻译文献in unknown conditions. Risk management recognizes the uncertainty in duration estimating and provides a system to brain storm other risks that may occur during the project. Probability distributions are the best way to model planned activity durations, as noted by Hulett ‘‘The best way to understand the activity durations that are included in the schedule is as probabilistic statements of possible durations rather than a deterministic statement about how long the future activity will take.’’DEFINITION OF RISK TERMSThe Project Management Institute (PMI) defines project risk in its Project Management Body of Knowledge (PMBOK) as ‘‘an uncertain event or condition that, if it occurs, has a positive or negative effect on at least one project objective, such as time, cost, scope, or quality. A risk may have one or more causes and, if it occurs, one or more impacts.’’PMBOK adds ‘‘Risk conditions could include aspects of the project’s or organization’s environment that may contribute to project risk, such as poor projectmanagement practices, or dependency on external participants who cannot be controlled.’’Risk Management: A process designed to examine uncertainties occurring during project delivery and to implement actions dealing with those uncertainties in order to achieve project objectives The definition of risk management in PMBOK, 4th Edition, is: ‘‘systematic process of identifying, analyzing, and responding to project risk.’’. .4计划风险管理中英文对照外文翻译文献Risk definition by AACEi Cost Engineering Terminology7 is: ‘‘the degree of dispersion or variability around the expected or ‘best’value, which is estimated to exist for the economic variable in question, e.g., a quantitative measure of the upper and lower limits which are considered reasonable for the factor being estimated.’’Time Contingency: An amount of time added to the base estimated duration to allow for unknown impacts to the project schedule, or to achieve a certain level of confidence in the estimated duration.Probability: A measure of the likelihood of occurrence of anevent.Risk register: A checklist of potential risks developed during the risk identification phase of risk management.Risk allocation: A determination of how to respond to risks, which can include shifting risk, avoiding risks, preventing or eliminating risks, and incorporating risks into the schedule. Deterministic: A calculated approach to estimating single activity duration using work quantity divided by estimated production rate.Probabilistic: The determination of risk likelihood and consequences to establish duration ranges or risk-adjusted durations that can be used in a schedule in recognition that there are no certainties in estimating future durations. Monte Carlo analysis: A probabilistic approach to determining confidence levels of completion dates for a project schedule by calculating durations as. .5计划风险管理中英文对照外文翻译文献probability distributions.Probability distribution: The spread of durations in a statistically significant population that is used for the range of durations in probabilistic scheduling approaches.Confidence level: A measure of the statistical reliability of the prediction of project completion.What-if scenario: A modeling of a risk for use in a CPM schedule in order to predict the ramifications of an identified risk.Qualitative analysis: Occurring on the project, as well as assessing the severity of that risk should it occur and prioritizing the resultant list of risks.Quantitative analysis: The assigning of a probability to the qualitative description of the risk, ranking the risks, and calculating the potential impact from both individual risks as well as the cumulative effect of all risks identified. Exculpatory clauses: Disclaimer verbiage that is designed to shift risk. TYPES OF RISK IN CONSTRUCTION PROJECTSEverything that has ever gone wrong on a construction project is a potential risk on the next project. Many project managers instinctively develop a lessons-learned list of historical risks and take steps to minimize their exposure to those risks in the future.Risks vary by industry and even by construction project type as well as by personnel involved with the project. Aroadway or bridge project has a. .6计划风险管理中英文对照外文翻译文献different group of risks than a facility or building, and the selected contractors may have different degrees of influence on the level of risks to performance. If an owner attempts to save money in preconstruction services by limiting the extent of field investigation or development of as-built data, there will be a higher risk of discovery of unknown problems. The experience and competence of the architects and engineers handling the design of the project, as well as their quality control indevelopment of working drawings, directly affect the construction effort and, consequently, the risk associated with the plans and specifications.Even if the owner has been proactive in preconstruction investigation, there is always a risk of unforeseen conditions. This can be a function of the type of soils encountered, the local municipality, and its culture and history of keeping good records of obsolete utilities. If the city in which the project is to be built has a history of requiring contractors to remove all abandoned underground lines, there is a muchlower risk of underground conflicts.The selection of the project team can impact positively or negatively the probability of successful project completion. Design-bid-build projects that use procurement philosophies allowing all financially capable contractors to participate will likely experience a much higher level of risk to on-time performance than a procurement philosophy that requires qualification of proposed contractors to ensure that they have the appropriate experience and resources to construct the project. A single weak subcontractor on a project。
(风险管理)大学风险管理文献翻译
原文：U niversity Risk ManagementOrganizations around the world are facing challenging times due to continuing economic volatility and facing new risks that cause them continuously to assess the potential impact, financial and otherwise, of market conditions on the performance of their operations. And universities are no exception.Institutions of higher education have significant compliance requirements, and many have invested greatly in response to heightened expectations from stakeholders to stay competitively viable among other universities. However, many continue to approach risk and control requirements in silos, which leads to the creation of multiple frameworks for governance, infrastructure, and processes; fragmented risk and control activities; potential gaps in overall risk coverage; and duplication of effort. Understandably, there is a resulting concern about compliance breaches. Without a common basis for evaluation, audit committees struggle to determine the adequacy of risk and control efforts, and boards and executives want assurance that investments are appropriately focused, consistent with peers, and aligned to the institution’s unique risk issues.Universities are also facing increased scrutiny from stakeholders regarding issues such as investments and spending, privacy, conflicts of interest, IT availability and security, fraud, research compliance, and transparency. Students, faculty members, staff, donors, and other interested parties are looking not only at what is being done, but how it is being done.Although the approach to risk management varies from institution to institution, there are clearly some common challenges and trends. Overall, a growing number of universities are integrating a risk management framework into their strategic planning and decision-making processes, but sustaining formal risk management and reporting process is a challenge. The board of governors, president, and other senior management members are often involved in ongoing risk identification and assessment, and are taking part in efforts to develop and implement both internal andexternal risk management processes and controls. The establishment of risk champions (members of the university beyond the university’s administration who can champion risk management) within the university is also increasing, which raises the awareness of risk, fosters better understanding of risk management programs and practices, and increases communication to relevant stakeholders.Applying ERT to universitesEnterprise risk management (ERM) can be described as a strategic process affected by a u niversity’s governance structure, management, administration, and faculty, designed to:• Help identify risks that may affect the institution.• Manage identified risks within the university’s risk appetite.• Provide assurance that the university can achieve its objectives.The values of the university influence how risk is perceived, and it is important that the culture reflects a risk management philosophy. Having a strong ERM framework can provide a common understanding of risk across the organization and help it achieve its strategic and academic objectives through focusing on the interrelated risks that could have the most significant impact. It drives the organization to integrate risk into its everyday planning and budgeting/forecasting process and operations, and strengthens its ability to deal vent unexpected or stealth risks.As in ot her organizations, a university’s risk management approach must grow and change with the environment in which it operates. An embedded, sustainable ERM approach allows management to assess, improve, and monitor consistently the way the university manages its evolving risks.A university risk management maturity modelThere are three stages of maturity that can be applied to universities. The risk management maturity model can be used as a roadmap for evaluating an institution's current state and defining next steps. The Baseline Practices stage typically consists of fundamental compliance activities. Typically, there are no established risk management roles, responsibilities, processes, or documentation, and most efforts aremade in “silos” .Then, as the university improves its understanding of ERM and alters its practices accordingly, it progresses to an Improved Practices state. In this “alignment”phase, the organizat ion’s ERM efforts have moved beyond mere compliance. There is a certain level of risk ownership by the board of governors, but at this point the roles, responsibilities, and process have not been defined clearly and completely. Finally, in the Optimized Practices state, the university has reached a stage in which ERM processes and responsibilities are fully established and have become integrated into the organization’s strategy and day to- day operations. The focus during this “integration” phase is now on continuously re-evaluating risk and performance, and adjusting its response accordingly.Universities without a robust risk management framework are increasingly exploring and implementing new ERM processes, and making risk management an integral part of their planning and decision- making processes, while universities that have already adopted ERM are altering their approach accordingly to reach an optimal state. Current trends include raising awareness through activities such as seeking internal and external stakeholder input, increasing communications of relevant risk management initiatives such as campus emergency communications, identifying risk champions to foster and develop new programs and processes, and involving university executives and the board in risk identification and assessment. Who’s responsible for risk management?Risk management is ever yone’s responsibility, and the roles and responsibilities of stakeholders must be defined clearly. The board of governors, senior administration, and risk management and internal audit teams are responsible for understanding principal risks in their areas, and for making effective risk management decisions. Board of governorsThe board’s overall risk management mandate is to assess and recommend improvements on how the principal risks of the university are being managed through an effective risk management and internal control system that VSTU help the university achieve its mission. Board members are ¡responsible for:• Determining a risk-adjusted strategy.• Facilitating and encouraging a risk management culture.• Approving risk measurements, risk appetite, and tolerance levels.• Ensuring the university’s senior administrators have an approach to identifying emerging issues and possible impacts on university operations and business risks. • Reviewing controls and compliance with the university’s administration and audit teams, and seeking input on university and administrative best practices. • Understanding and providing oversight on the quality of the u niversity’s overall risk management program implementation and execution.In determining its risk oversight structure, the board should identify where within its governance practices it addresses risk management matters from an enterprise wide perspective. In most cases, the audit committee and the finance and administration vice presidents assume responsibility for risk oversight, including:• Providing the necessary checks and balances so that they are operating in an active oversight capacity.• Continuously reevaluating risk monitoring processes.• Reviewing and approving governance practices, policies, priorities, and procedures against best practices.• Ensuring that audit committee and executing members have instituted processes to identify and inform the board of key strategic, reputational, operational, compliance, and financial risks the organization faces.• Advising and counseling the deans,professors, and functional unit heads.The board’s role is to focus on the overall approach to risk management, rather than on the administrative details. The more tactical aspects of the risk strategy are generally the r esponsibility of the university’s team of senior administrators. Senior administrationOverseeing the university’s compliance with generally accepted accounting principles, practices, and requirements, and evaluating the university’s finance and accounting practices, risk management, and internal controls to ensure that they are appropriate and adequate is the responsibility of senior administration. Their otherresponsibilities can include:• Encouraging the right risks to drive business performance.• Identifying and prioritizing key risks and aligning university resources accordingly. • Improving alignment and coordination among risk and control activities. • Leveraging best practices on managing and controlling key risks.• Maintaining appropriate oversight of key controls.• Monitoring and escalating risks.The university’s senior administrators are responsible for the management of the day-to-day functioning of the university, including strategic, financial, operational, and compliance activities.Risk management and internal auditingThe risk management and internal audit teams play an important role in university risk management. In general, internal auditio n’s responsibilities can include:• Understanding the university’s challenges and key objectives, and establishing an appropriate, detailed internal audit plan.• Helping the university’s management and board understand, assess. and manage the organization’s risk through consistent communication and reporting.• E nsuring that processes are addressing changes and the associated risks adequately, and working as intended, especially during times of change.In general, risk management’s responsibilities can include:• Facilitating the completion of an enterprise risk assessment (ERA) and identifying risk mitigation and monitoring practices required for the university.• Developin g an ERM framework, approach, and program that will sustain risk management activities and better coordinate them —where appropriate. • Ensuring sufficient transparency of relevant risk management practices residing at the university either by way of training, awareness programs, or communication.In addition to the board and senior administrative members, internal auditors play a crucial role in a university risk management strategy—regardless of whether the risk management group reports directly to the internal audit function.Improving risk management practicesThe steps r equired to improve a university’s risk management practices can be broken down into three general phases. The core risk management group should start by assessing the current situation to defame and prioritize the key risks that could prevent strategic objectives from being achieved. The group should then review the design and operation of the risk management and internal control framework to determine the areas where incremental enhancements would provide the greatest benefits. Once the necessary improvements and processes are in place, they must be monitored and modified, if necessary, to ensure that they are relevant and effective and that risks are being managed appropriately.One of the most important elements of a successful risk management function is ongoing and involves creating and maintaining a strong risk management culture and incorporating the implications of risk management into regular, everyday decision making. This type of environment can be facilitated through visible executive support for risk management programs, clear expectations, transparent communication and reporting, clearly defined roles and responsibilities, strong governance, and regular self-assessments to review risk exposure.Phase1:defining and prioritizing the risk that matter for the university Before undertaking efforts to enhance the way risk is managed, it is important to understand the institution’s key risks by conducting an ERA. Defining the risks that matter is a critical step to understanding the key controls and decision-making processes, and developing an enterprise wide view of risk. The ERA is conducted as a facilitated self assessment, provides insight regarding the significant risks faced, and links them to the objectives, initiatives, and business processes. Although the approach is performed using standard tools and processes, the output must be validated and prioritized by senior management and the board. The risk assessment methodology assists with:• Providing an insightful point of view on significant risks inherent to institutes of higher education.• Efficiently capturing insight from across the university using a combination ofsurveys and structured interviews.• Validating and prioriti zing key risks for monitoring and testing.• Defining opportunities for improvements to internal controls and management activities.• Developing the foundational elements of a process that can be embedded and sustained within existing processes.The four risk pillars that a university should consider during the ERA include: strategic risk, operational risk, financial risk, and compliance risk. These four categories should all be reviewed at the university, faculty, and functional level. Seeking external perspectives on university risk can also be useful. For example, groups such as the National Association of College and University Business Officers, the Association of College and University Auditors, and other sector-specific organizations are good resources.Phase2:evaluating the university’s competencies to manage riskThe “Risk Management Performance Assessment” phase builds upon the results of the assessment completed in the first phase and provides a snapshot of the university’s risk management competencies. It is designed to identify opportunities for alignment and coordination across traditional organizational boundaries, as well as determine how well the functional and business operational areas manage risks. In general, this phase offers an overall review of:• Responsibilities for key risks across functional activities and business processes. • The degree of alignment and coordination across the organization. • The maturity of risk management foundational components such as governance, infrastructure, operations, and people.While performing the review, the following elements should be considered: • Risk strateg y —risk tolerance and appetite, alignment of risk management to university objectives, and risk-related policies and procedures.• Risk management and assurance processes— risk assessment, risk communication, and reporting(e.g., dashboards).• Governance structure—sponsorship by the board of governors; risk ownership, accountability, and related roles and responsibilities; appropriate technology (e.g., institution’s intranet and databases); early warning systems; and analytical and modeling tools.• Culture and capability—measurement, reward, training, and behavior.This phase helps management recognize how to make incremental enhancements to the existing infrastructure to embed and sustain risk management activities within the normal course of operations.Phase3:building an enterprise approach to riskThe last phase involves defining and prioritizing opportunities for improvement, developing specific plans to improve and monitor significant risks, and then enforcing adherence to the established policies and procedures. All efforts to expand risk management competencies should be practical, be embedded within existing functions and processes where possible, support coordination and alignment for risk management and internal control, incorporate leading practices, be coordinated across the entire organization,support effective decision making,and align to industry standards and published frameworks.Established control activities are only effective if they are implemented and monitored. Once the initial direction for risk management is set, it is important to verify that everyone is complying with the processes and that the changing exposures to risk are assessed consistently and modified as required.Benefits of ERMThe decentralized nature of universities and the increasing competition over faculty, students, and funds amplifies their requirement for adopting an integrated risk management fame work. Universities must build on their present risk management culture, identify internal and external forces that could limit the ability to achieve strategic objectives, assess risks using the appropriate tools, develop an appropriate risk plan, implement the necessary controls and communications, and monitor ongoing risk management activities.Regardless of a university’s current risk management philosophy and practices,reviewing the risk management framework and adopting an embedded approach to the ERM process and culture will help the university’s board and administration make informed decisions that are aligned with its risk tolerance and strategy, remain confident of compliance with regulatory requirements, and achieve the transparency and outcomes desired by stakeholders.Source: Carol.Wilson,2010.“University risk management”.Internal Auditor,vol.67 Issue 4 ,pp.65-68.译文：大学风险管理由于经济的持续波动，各地有关组织正面临着挑战，使他们不断地评估金融、市场条件和其它方面对执行自己业务有潜在影响的情况。
(风险管理)大学风险管理文献翻译
原文：U niversity Risk ManagementOrganizations around the world are facing challenging times due to continuing economic volatility and facing new risks that cause them continuously to assess the potential impact, financial and otherwise, of market conditions on the performance of their operations. And universities are no exception.Institutions of higher education have significant compliance requirements, and many have invested greatly in response to heightened expectations from stakeholders to stay competitively viable among other universities. However, many continue to approach risk and control requirements in silos, which leads to the creation of multiple frameworks for governance, infrastructure, and processes; fragmented risk and control activities; potential gaps in overall risk coverage; and duplication of effort. Understandably, there is a resulting concern about compliance breaches. Without a common basis for evaluation, audit committees struggle to determine the adequacy of risk and control efforts, and boards and executives want assurance that investments are appropriately focused, consistent with peers, and aligned to the institution’s unique risk issues.Universities are also facing increased scrutiny from stakeholders regarding issues such as investments and spending, privacy, conflicts of interest, IT availability and security, fraud, research compliance, and transparency. Students, faculty members, staff, donors, and other interested parties are looking not only at what is being done, but how it is being done.Although the approach to risk management varies from institution to institution, there are clearly some common challenges and trends. Overall, a growing number of universities are integrating a risk management framework into their strategic planning and decision-making processes, but sustaining formal risk management and reporting process is a challenge. The board of governors, president, and other senior management members are often involved in ongoing risk identification and assessment, and are taking part in efforts to develop and implement both internal andexternal risk management processes and controls. The establishment of risk champions (members of the university beyond the university’s administration who can champion risk management) within the university is also increasing, which raises the awareness of risk, fosters better understanding of risk management programs and practices, and increases communication to relevant stakeholders.Applying ERT to universitesEnterprise risk management (ERM) can be described as a strategic process affected by a u niversity’s governance structure, management, administration, and faculty, designed to:• Help identify risks that may affect the institution.• Manage identified risks within the university’s risk appetite.• Provide assurance that the university can achieve its objectives.The values of the university influence how risk is perceived, and it is important that the culture reflects a risk management philosophy. Having a strong ERM framework can provide a common understanding of risk across the organization and help it achieve its strategic and academic objectives through focusing on the interrelated risks that could have the most significant impact. It drives the organization to integrate risk into its everyday planning and budgeting/forecasting process and operations, and strengthens its ability to deal vent unexpected or stealth risks.As in ot her organizations, a university’s risk management approach must grow and change with the environment in which it operates. An embedded, sustainable ERM approach allows management to assess, improve, and monitor consistently the way the university manages its evolving risks.A university risk management maturity modelThere are three stages of maturity that can be applied to universities. The risk management maturity model can be used as a roadmap for evaluating an institution's current state and defining next steps. The Baseline Practices stage typically consists of fundamental compliance activities. Typically, there are no established risk management roles, responsibilities, processes, or documentation, and most efforts aremade in “silos” .Then, as the university improves its understanding of ERM and alters its practices accordingly, it progresses to an Improved Practices state. In this “alignment”phase, the organizat ion’s ERM efforts have moved beyond mere compliance. There is a certain level of risk ownership by the board of governors, but at this point the roles, responsibilities, and process have not been defined clearly and completely. Finally, in the Optimized Practices state, the university has reached a stage in which ERM processes and responsibilities are fully established and have become integrated into the organization’s strategy and day to- day operations. The focus during this “integration” phase is now on continuously re-evaluating risk and performance, and adjusting its response accordingly.Universities without a robust risk management framework are increasingly exploring and implementing new ERM processes, and making risk management an integral part of their planning and decision- making processes, while universities that have already adopted ERM are altering their approach accordingly to reach an optimal state. Current trends include raising awareness through activities such as seeking internal and external stakeholder input, increasing communications of relevant risk management initiatives such as campus emergency communications, identifying risk champions to foster and develop new programs and processes, and involving university executives and the board in risk identification and assessment. Who’s responsible for risk management?Risk management is ever yone’s responsibility, and the roles and responsibilities of stakeholders must be defined clearly. The board of governors, senior administration, and risk management and internal audit teams are responsible for understanding principal risks in their areas, and for making effective risk management decisions. Board of governorsThe board’s overall risk management mandate is to assess and recommend improvements on how the principal risks of the university are being managed through an effective risk management and internal control system that VSTU help the university achieve its mission. Board members are ¡responsible for:• Determining a risk-adjusted strategy.• Facilitating and encouraging a risk management culture.• Approving risk measurements, risk appetite, and tolerance levels.• Ensuring the university’s senior administrators have an approach to identifying emerging issues and possible impacts on university operations and business risks. • Reviewing controls and compliance with the university’s administration and audit teams, and seeking input on university and administrative best practices. • Understanding and providing oversight on the quality of the u niversity’s overall risk management program implementation and execution.In determining its risk oversight structure, the board should identify where within its governance practices it addresses risk management matters from an enterprise wide perspective. In most cases, the audit committee and the finance and administration vice presidents assume responsibility for risk oversight, including:• Providing the necessary checks and balances so that they are operating in an active oversight capacity.• Continuously reevaluating risk monitoring processes.• Reviewing and approving governance practices, policies, priorities, and procedures against best practices.• Ensuring that audit committee and executing members have instituted processes to identify and inform the board of key strategic, reputational, operational, compliance, and financial risks the organization faces.• Advising and counseling the deans,professors, and functional unit heads.The board’s role is to focus on the overall approach to risk management, rather than on the administrative details. The more tactical aspects of the risk strategy are generally the r esponsibility of the university’s team of senior administrators. Senior administrationOverseeing the university’s compliance with generally accepted accounting principles, practices, and requirements, and evaluating the university’s finance and accounting practices, risk management, and internal controls to ensure that they are appropriate and adequate is the responsibility of senior administration. Their otherresponsibilities can include:• Encouraging the right risks to drive business performance.• Identifying and prioritizing key risks and aligning university resources accordingly. • Improving alignment and coordination among risk and control activities. • Leveraging best practices on managing and controlling key risks.• Maintaining appropriate oversight of key controls.• Monitoring and escalating risks.The university’s senior administrators are responsible for the management of the day-to-day functioning of the university, including strategic, financial, operational, and compliance activities.Risk management and internal auditingThe risk management and internal audit teams play an important role in university risk management. In general, internal auditio n’s responsibilities can include:• Understanding the university’s challenges and key objectives, and establishing an appropriate, detailed internal audit plan.• Helping the university’s management and board understand, assess. and manage the organization’s risk through consistent communication and reporting.• E nsuring that processes are addressing changes and the associated risks adequately, and working as intended, especially during times of change.In general, risk management’s responsibilities can include:• Facilitating the completion of an enterprise risk assessment (ERA) and identifying risk mitigation and monitoring practices required for the university.• Developin g an ERM framework, approach, and program that will sustain risk management activities and better coordinate them —where appropriate. • Ensuring sufficient transparency of relevant risk management practices residing at the university either by way of training, awareness programs, or communication.In addition to the board and senior administrative members, internal auditors play a crucial role in a university risk management strategy—regardless of whether the risk management group reports directly to the internal audit function.Improving risk management practicesThe steps r equired to improve a university’s risk management practices can be broken down into three general phases. The core risk management group should start by assessing the current situation to defame and prioritize the key risks that could prevent strategic objectives from being achieved. The group should then review the design and operation of the risk management and internal control framework to determine the areas where incremental enhancements would provide the greatest benefits. Once the necessary improvements and processes are in place, they must be monitored and modified, if necessary, to ensure that they are relevant and effective and that risks are being managed appropriately.One of the most important elements of a successful risk management function is ongoing and involves creating and maintaining a strong risk management culture and incorporating the implications of risk management into regular, everyday decision making. This type of environment can be facilitated through visible executive support for risk management programs, clear expectations, transparent communication and reporting, clearly defined roles and responsibilities, strong governance, and regular self-assessments to review risk exposure.Phase1:defining and prioritizing the risk that matter for the university Before undertaking efforts to enhance the way risk is managed, it is important to understand the institution’s key risks by conducting an ERA. Defining the risks that matter is a critical step to understanding the key controls and decision-making processes, and developing an enterprise wide view of risk. The ERA is conducted as a facilitated self assessment, provides insight regarding the significant risks faced, and links them to the objectives, initiatives, and business processes. Although the approach is performed using standard tools and processes, the output must be validated and prioritized by senior management and the board. The risk assessment methodology assists with:• Providing an insightful point of view on significant risks inherent to institutes of higher education.• Efficiently capturing insight from across the university using a combination ofsurveys and structured interviews.• Validating and prioriti zing key risks for monitoring and testing.• Defining opportunities for improvements to internal controls and management activities.• Developing the foundational elements of a process that can be embedded and sustained within existing processes.The four risk pillars that a university should consider during the ERA include: strategic risk, operational risk, financial risk, and compliance risk. These four categories should all be reviewed at the university, faculty, and functional level. Seeking external perspectives on university risk can also be useful. For example, groups such as the National Association of College and University Business Officers, the Association of College and University Auditors, and other sector-specific organizations are good resources.Phase2:evaluating the university’s competencies to manage riskThe “Risk Management Performance Assessment” phase builds upon the results of the assessment completed in the first phase and provides a snapshot of the university’s risk management competencies. It is designed to identify opportunities for alignment and coordination across traditional organizational boundaries, as well as determine how well the functional and business operational areas manage risks. In general, this phase offers an overall review of:• Responsibilities for key risks across functional activities and business processes. • The degree of alignment and coordination across the organization. • The maturity of risk management foundational components such as governance, infrastructure, operations, and people.While performing the review, the following elements should be considered: • Risk strateg y —risk tolerance and appetite, alignment of risk management to university objectives, and risk-related policies and procedures.• Risk management and assurance processes— risk assessment, risk communication, and reporting(e.g., dashboards).• Governance structure—sponsorship by the board of governors; risk ownership, accountability, and related roles and responsibilities; appropriate technology (e.g., institution’s intranet and databases); early warning systems; and analytical and modeling tools.• Culture and capability—measurement, reward, training, and behavior.This phase helps management recognize how to make incremental enhancements to the existing infrastructure to embed and sustain risk management activities within the normal course of operations.Phase3:building an enterprise approach to riskThe last phase involves defining and prioritizing opportunities for improvement, developing specific plans to improve and monitor significant risks, and then enforcing adherence to the established policies and procedures. All efforts to expand risk management competencies should be practical, be embedded within existing functions and processes where possible, support coordination and alignment for risk management and internal control, incorporate leading practices, be coordinated across the entire organization,support effective decision making,and align to industry standards and published frameworks.Established control activities are only effective if they are implemented and monitored. Once the initial direction for risk management is set, it is important to verify that everyone is complying with the processes and that the changing exposures to risk are assessed consistently and modified as required.Benefits of ERMThe decentralized nature of universities and the increasing competition over faculty, students, and funds amplifies their requirement for adopting an integrated risk management fame work. Universities must build on their present risk management culture, identify internal and external forces that could limit the ability to achieve strategic objectives, assess risks using the appropriate tools, develop an appropriate risk plan, implement the necessary controls and communications, and monitor ongoing risk management activities.Regardless of a university’s current risk management philosophy and practices,reviewing the risk management framework and adopting an embedded approach to the ERM process and culture will help the university’s board and administration make informed decisions that are aligned with its risk tolerance and strategy, remain confident of compliance with regulatory requirements, and achieve the transparency and outcomes desired by stakeholders.Source: Carol.Wilson,2010.“University risk management”.Internal Auditor,vol.67 Issue 4 ,pp.65-68.译文：大学风险管理由于经济的持续波动，各地有关组织正面临着挑战，使他们不断地评估金融、市场条件和其它方面对执行自己业务有潜在影响的情况。
外文翻译--在金融机构的有效风险管理
原文：Effective risk management in financial institutions Abstract：Risk management is more important in the financial sector than in other parts of the economy. But it is difficult. The basis of banking and similar financial institutions is taking risk in conditions of uncertainty. Describes how the Turnbull report, for which the author was project director, created a new underlying approach to risk. Provides a guide to the way in which the various Turnbull ideas have become the bedrock of risk management and suggests how they can be developed.There can be few, if any, parts of the economy in which risk management is more important than the financial sector. Financial institutions account for a sizeable number of the world’s leading companies and have a criti cal role to play in the economics of every country and thus in world economic order as a whole. Their whole business is centred on taking risks in conditions of uncertainty. The Turnbull Report on risk management and internal control, which is applicable to all listed companies in the UK and which has been widely disseminated internationally, fully recognises this fundamental point. Its focus is on effective risk management and not the elimination of risk. In a modern competitive market economy, business organisations that are risk averse are unlikely to earn satisfactory returns. On the other hand, highly volatile returns are unlikely to find favour with capital markets anxious not to be surprised, particularly by bad news. Moreover, Turnbull is as much about doing the right things and not missing strategic opportunities, as it is about doing things right, essential if a company is to achieve its full potential. Applying Turnbull’s approach may lead to some financial institutions realising that they are not taking enough risk; perhaps a new market can be identified and while there may be clear risks in being the first to enter there may equally be significant first-mover advantages to be gained.A framework, not a rule bookThe Turnbull Report also recognises the dynamic nature of markets in which an organisation operates and seeks to encourage companies to create risk managementsystems that can continually adapt to changing circumstances. To avoid particular controls being seen as an end in themselves even once their usefulness has ceased, the guidance places internal controls firmly in their broader business context: they are only of value to the extent that they help businesses to control the risks that threaten the achievement of their business objectives. In summary, Turnbull offers a framework, rather than a rulebook, which each organisation can apply to its own circumstances to develop an appropriate internal control system.The importance of sound judgementThe fact that Turnbull eschews a tick-box approach has been well received by the business community; however, it does mean that judgement plays a vital role in establishing an effective internal control system, starting at board level. Making sure that judgement is sound is perhaps the greatest single challenge involved in risk management. No system and no amount of internal controls will prevent losses if the judgement on which business decisions are based is poor.Judgement comes into play in initially establishing clearly defined business objectives, identifying the risks to achieving those objectives, prioritising how great a threat those risks pose and then determining appropriate responses in the form of developing internal control systems.Judgement is also called for in terms of applying cost-benefit analysis to the merits of adopting specific controls. It is clearly worthwhile for a bank to undertake credit checks before granting loans but a cost-benefit approach will promote systems that focus staff time on the potentially high risk loans and on developing early warning systems when loans are not performing rather than selecting a one size fits all approach.Identification issuesRisks that threaten a financial institution’s objectives will often range from highly function-specific risks through to strategic, big picture issues. Consider the foreign exchange trading activity in a major bank. There is clearly a risk that an individual trader, left to operate free of internal controls, can run up significant losses. This risk is located in a define d area of the bank’s activities but its potentialwide-ranging impact should not be underestimated. As Barings so visibly demonstrated, operational problems in a financial institution can be life-threatening probably to a greater extent than operational problems in many other businesses.At the other end of the spectrum lie a whole range of market-related strategic risks, for example, the threat that supermarkets will increasingly capitalise on their existing customer relationships to gain a larger share of the retail financial services market, or that closing down bank branches in rural locations will trigger accusations of a lack of social concern and damage the bank’s public image and possibly its brand value even though the decision may be financially supportable. With market concentration growing at national, regional and global levels, it is also essential in many cases not only to select the right strategic partner for growth but also to ensure relevant deals can be successfully concluded. Identifying the take-over candidate or strategic alliance partner is but the start of the process. Care needs to be taken to manage the risk associated with regulatory intervention and to avoid the emergence of a hostile bidder to an agreed deal. As a number of British financial institutions have discovered in recent years, the price in terms of continued independence of a high profile abortive deal can be high.Keep control of your reputationReputational risk is a major issue for the entire financial services sector, given the fundamental need for customers to believe in the stability and security of an organisation’s operations if they are to continue trusting it to handle their affairs. Furthermore, as the pensions mis-selling affair demonstrated there is a need for trust both in the individual institution and in the sector as a whole of which it forms part. This therefore calls on some occasions for collaborative as opposed to solely competitive risk management strategies as may also be the case in, for example, combating credit card fraud or on some IT security issues. In retail banking the reputation of individual banks could become much more of an issue in the years ahead with customers being increasingly tempted to consider the advantages of switching between high street banks, both as a result of the costs of switching being reduced and due to the influx of new market entrants. The recent questioning of the independenceof analysts’ forecasts will also need to be addressed robustly if long-term reputational repercussions are to be avoided.Assessing the importance of risksIdentifying the existence of potential risks does not necessarily mean that action is required to mitigate all of them. Risks must be prioritised, by means of assessing the likelihood of their occurring and the extent of their impact – high likelihood and high impact suggesting high priority for action.Verifying your judgementsWhen identifying and prioritising risks, financial institutions need to have regard to the concept of “verifiability”; in other words, if a different group of people were making the same decisions about the importance of those risks, would they be likely to come to the same conclusion? This is obviously more likely to be the case if a wide range of people from a broad cross-section of the business, both laterally and vertically, is involved in the risk identification and assessment process and if there are no “taboo” subjects which prevent conventional wisdom within the organisation being challenged when necessary.External views of risk must also be fed into the identification and assessment process. What is the market’s view of interest rate developments? How are personal investments expected to change in the coming years? In the case of regulated areas such as financial s ervices, the organisation’s perceived view of how its principal regulator views it will be of interest but also an assessment will be needed of how the overall regulatory environment is likely to develop, including in competition terms, and the impact of international developments such as those being brought about by the Lampfalussy report in the EU.Change managementOne of the key challenges running across the entire process of identifying and assessing risks is that the business and financial world is in a constant state of flux. How is the emergence of Internet banking changing the way that retail customers interact with their bank? How important is 24-hour access to account details? What does this mean for the maintenance of IT systems? Do people really want to be able tochange their bank details using their mobile phone? How do you manage call centres effectively to ensure that this new form of bank/customer interface maintains the bank’s brand values?Some new or changing market conditions will develop gradually over time, while others may sweep the market quickly. Given this dynamic background, the internal control framework must be regularly reviewed and adjusted to take account of changing market conditions. It is management’s role to recommend poli cies for managing risk, the board’s role to review and approve them, and management’s role once more to implement them and report back on their operation.Coping with risk in the midst of change is particularly key when an industry is going through a period of consolidation. Merger and acquisition activity brings inevitable disruption as previously distinct cultures and systems are consolidated into a new combined entity. The risk management implications of such proposals need to be carefully considered before, during and after the merger process.Embedding risksThe ability to respond to changing conditions largely relies on the internal control system being embedded in the bank’s operations. This is a complex process involving a range of activities including the effective communication of, and reporting on, the bank’s risk management policies at all levels, the development of risk training courses, the involvement of staff in responding to early warning systems, channels for reporting suspected control breaches and generally the creation of a positive risk management culture.The process of embedding risks should not, however, be allowed to lead to complacency or passivity within the organisation. The fact that systems are in place, a control manual exists and staff have been trained in risk management as part of their daily activities does not mean that systems are infallible as they will always be dependent, at least to some extent, on the people operating them and, for example, when staff morale is low more mistakes, accidentally or deliberately, are likely to occur.Cultural challengesCulture is also key in terms of creating an environment where dealing losses and real or suspected control breaches can and will be reported. If the prevailing culture is one of blame without just cause, then there is a high chance that individuals will see it as in their own self-interest to try to cover up problems. Many organisations are also now developing “whistleblowing” procedures to ensure concerns can be reported confidentially.Remuneration issuesThe bank’s remuneration policies have an important role in reinforcing or undermining the internal control environment. Take the bonuses paid out at the end of each year. The factors determining the size of the payout are likely, indeed intended, to shape employees’ behaviour. Consider the trader who has had a bad patch and whose bonus is under threat. He/she might react by taking increasingly greater risks in the attempt to reach his/her target. Alternatively, he/she might lose interest in his/her performance until the start of the next bonus period. Either way, the bank’s overall performance could be affected by his/her actions. However, if the bonus is based on long-term performance, then he/she is far more likely to maintain an optimal effort level over the longer term.Management, not eliminationThe Turnbull approach emphasises risk management, not risk elimination. Financial institutions must take risk, but they must do so consciously. Establishing the appropriate cultural framework needs the support of all staff in the process of identifying, monitoring and controlling risks. Risk management must be seen as an ongoing and valued activity with the board setting the example. It is without doubt a challenging agenda.Source: Anthony Carey, 2001.“Effective risk management in financial institutions”. Journal of Risk Finance. February.pp.24-27.译文：在金融机构的有效风险管理摘要：风险管理在金融部门中比经济的其他部分更重要。
论文范文—商业银行风险管理
论文范文一商业银行风险管理商业银行风险管理提要金融全球化、科技进步促进了银行的发展，但同时也带来巨大的金融风险。
本文就如何提高我国银行业风险管理能力进行探讨。
主要包括四方面的内容：培育统一高效的风险管理理念，建立有效的风险管理体系，提高风险管理手段和技术, 加强人才培养衍生对冲风险管理能力是商业银行生存与发展的核心能力之一。
随着全球金融一体化进程的加快,商业银行面临的经营风险日益复杂，现今距离我国加入WTO承诺最终对外开放金融服务业的时间越来越近，我国商业银行应对风险的能力怎样，如何进一步加强我国银行风险管理呢？客观上讲，我国商业银行的风险管理无论是在理念和认识上，还是在风险管理体系上和风险管理机制上，无论是在风险管理范围上和深度上,还是在风险管理技术手段上和队伍建设上，与世界领先银行相比还存在着相当大的差距，需要改进和提高的方面还有很多，概括表现为以下儿点：一、培育统一的风险管理理念根据巴塞尔委员会和全球风险专业人员协会的相关规定，健全的风险管理理念要包括以下儿方面内容：一致性理念。
即银行应确保其风险管理LI标与业务发展LI标相一致。
从长远的角度来看，银行发展的最终LI标就是利润最大化，而进行风险管理则是为了减少失败的概率，降低经营活动中的不确定性，从而确保银行实现更多的利润。
山此可见，银行的风险管理LI标与业务发展LI标在本质上是一致的。
全面性理念。
即银行首先应确保其风险管理能够涵盖所有业务和所有环节中的一切风险，即所有风险都有专门的、对应的岗位来负责。
非常重要的一条就是“对于新产品、新业务，银行应确保这些产品、业务在被引进之前就已经制定出适应的风险管理程序和控制方法”。
即人们常说的“制度先行”。
独立性理念。
即风险管理战略的制定与实施之间、专门负责风险管理的部门和风险管理评估监督部门要相对独立。
独立性理念的实质就是要在银行内部建立起一个职责清晰、权责明确的风险管理机制。
因为清晰的职责划分是确保风险管理体系有效运作的前提。
金融学专业商业银行信贷风险管理外文文献翻译中3000字
文献出处：Cornett M, Strahan P. The credit risk management of commercial banks [J]. Journal of Financial Economics, 2015, 101(2): 297-312.原文The credit risk management of commercial banksCornett M, Strahan PAbstractCredit risk is one of the most usual ones which any commercial banks may encounter during their operation. Credit risks of commercial banks not only cause losses which result in bankruptcy but also cause the most serious issues of financial and economic crisis of one nation. Referring to credit risk management of Vietnam commercial bank system，the capability of credit risks management of Vietnam commercial banks is still low; The rate of bad debt in the entire system is still much higher than international standards. Take this situation in consideration together with referring to a great number of documentations, I have studied credit risk managementof the three typical commercial bank in Vietnam and analyzed and evaluated the remaining issues in the process of credit risk control by these banks and offer some relevant solutions to the entire system of domestic banks. In credit risk management, I shall focus mainly on unscientific features in econometrics methods of credit risk management issued by commercial banks in Vietnam，which is inclusive of combination of unclear mathematic method and class analysis one to calculate credit risks. Due to the fact that credit risk management after disbursement by most of commercial banks is still weak, it is quite needed to study management after disbursement, particularize the method of identifying credit asset debt, build five-class classification, carry out actual management of credit asset and base on tendency of bad debt to offer solutions for every time period. In conclusion, what motioned herein comes from credit risk management in consideration of prevention, calculation, change and solution as well as risk management institutions.Key words: Risk, credit risk, commercial bank credit.1 Commercial bank credit risk management theoryAlthough Banks have a long history, but the theoretical analysis of credit risk is a relatively short history. By kea ton (Keeton, 1979), stag Ritz and Weiss (Mr. Weiss, 1981) development and formation of the "incomplete information credit rationing models on the market", it is pointed out that the credit market credit risk not only the two typical forms of...Adverse selection and moral hazard, and demonstrates the root of the credit risk, information asymmetry caused by the principal-agent relationship, lead to the emergence of credit rationing. Credit risk management refers to the commercial Banks through the scientific method of various subjective factors could lead to credit losses effectively forecast, analysis, prevention, control and processing. In order to reduce the credit risk, reduce the credit losses and improve the quality of credit, to enhance the capacity of the commercial bank risk control and loss compensation ability of a credit management activity. Depth understanding of credit risk management from the following four to grasp. One is the basis of credit risk management is according to the characteristics of credit requirements, not against the objective law of credit; The second is the credit risk management is scientific, modernization, standardization, quantitative and comprehensive; Three is the credit risk management method is mainly credit risk analysis, risk identification, risk measurement, risk control and risk management; Four is the credit risk management goal is to reduce risk, reduce loss, enhance the ability of commercial Banks operating risk.In order to guarantee bank loans will not be against its customers, to customers, companies, enterprises, such as different customer types before they are allowed to make loans to consider some problems. Also the question bank standard of 5 cabaña will select credit analysis of 5 c as a measure of the basic elements of corporate credit risk:1.1 QualityThe debtor to meet its debt obligations will, is the first indicator of evaluate the credit quality of the debtor. Regarding the quality of the wholesale banking, measure, or can be based on the reputation of the company management/owner eventually and company strategy.1.2 AbilityThe debtor's solvency, include the trend of the vision of the industry, the sustainable development of the company; the financial data mainly embodied in the current ratio and quick ratio. The stability of the corporate cash income directly determines its solvency and probability of default.1.3 CapitalRefers to the capital structure of the debtor or quotas, which indicates that the background of the customer may repay debt, such as debt ratio) or the net value of fixed assets and other financial indicators, etc.Shadow of the company's capital structure financing strategy: equity financing and debt financing.1.4 EnvironmentCompany locates the environment and the adaptability to the environment. Including solvent could affect the debtor's political, economic and market environment, such as the dong to rise and cancel the export tax rebate. As the "green credit, supported by more and more countries and companies, sustainable risk also be incorporated into the environmental risk considerations.1.5 MortgageRepayment of the debt of other potential resources and the resources provided by the additional security. Refuse or insolvent debtor can be used as mortgage/collateral assets, for no credit record (such as trading for the first time) or credit record disputed the debtor2 The commercial bank credit risk management processIn order to effective credit risk management, commercial Banks should grasp the basic application of credit risk management. In general, the credit risk management process can be divided into credit credit risk identification, risk estimate and credit risk handling three phases:2.1 Credit risk identificationCredit risk identification is before in all kinds of credit risk, the risk types and to determine the cause of occurrence of a risk, analysis, in order to achieve the credit risk measurement and processing. Credit risk identification is a qualitative analysis of the risk, is the first step of credit risk management, which is the basis for the rest of the credit risk management. Customer rating system and credit risk classification of the two dimensional rating system is constitute the important content of risk identification. This chapter will make detailed description of the two parts. Before the credit investigation is the commercial bank credit risk identification is the most basic steps, bank loans to the customer before must know the borrowing needs of the clients and purpose. Credit investigation before the concrete has the following contents: understand the purpose of credit, credit purpose including: type, in line with the needs of the business purpose and credit product mix and match the borrower repayment source of credit and credit term and effective mortgage guarantee/warranty or other intangible support.2.2 Credit risk estimateCredit risk estimation is the possibility of Banks in credit risk and the fact that the risk to evaluate the extent of the losses caused by measurement. Its basic requirements: it is estimated that some expected risk the possibility of credit; 2 it is to measure some credit risk fact may cause the loss of the scale. Objective that is both a difficult problem, but such as is not an appraisal, can't the quantitative corresponding countermeasures to prevent and eliminate. With the development of risk management techniques, in the financial markets open, Vietnam's financial regulators and commercial Banks also pay more and more attention to the risk of quantitative, in credit rating and have a certain progress in capital adequacy.Before Banks to make loans to customers, Banks must also understand the purpose of the customer, more understand the usage of loan customers, whether it is feasible, from now on, find a way to manage future loans to avoid the violation of the customer. As a result, Banks should use the loan examination and approval way to deal with.2.3 The processing of credit riskCredit risk after processing is that the Banks in the recognition and valuation risk, the effective measures taken by different for different size of loan risk take different processing method, make the credit risk is reduced to the lowest degree. Risk treatment methods mainly include: risk transfer refers to the bank assumes the credit risk on to others in some way. Transfer way, it is transferred to the customer, such as Banks to raise interest rates, require the borrower to provide mortgage, pledge or other additional conditions, etc.; 2 it is transferred to the insurance company, the bank will those particularly risky, once happened will loss serious loans directly to the insurance company insured, or by the customer to the insurance company insured to transfer risk;3 Commercial bank credit risk management regulation.In the risk management of commercial Banks to improve themselves at the same time, regulators and external credit rating agencies to the commercial bank credit risk management has a different regulation method.3.1 The China banking regulatory commission five classificationsThe CBRC requires commercial Banks asset quality for five categories, to reflect the face possible credit losses. System is classifying loans into five categories according to the inherent risk level could be divided into normal commercial loans, concern, loss of secondary, suspicious, five categories.The China banking regulatory commission five classifications has the advantage that the bank asset quality can be compared more easily, also can take credit quality ofthe whole global. Disadvantage is that some small and medium-sized Banks because of the lack of independent audit and internal audit, classification standard is difficult to unity, the China banking regulatory commission five classifications often find selective examination questions.3.2 Stress tests, a rating agencyRating agencies will be according to the information disclosure and audit results and adjusting the bank's credit rating. Stress test is a credit rating agency for checking the quality of commercial bank credit and common ways of anti-risk ability. Because of the influence of the stress tests, for what has happened, to predict the result may worsen the credit quality; Or for the possibility of events, predict the results of the impact of credit quality. Similar stress tests include, an industry is a strong shock cases the possibility of default, or large credit customer default could lead to credit quality decline.3.3 The new Basel capital accordNew Basel capital agreement hereinafter referred to as the new Basel agreement (hereinafter referred to as Basel II) in English, is by the bank for international settlements under the Basel committee on banking supervision (BCBS), and content for 1988 years the old Basel capital accord (Basel I) have had to make significant changes, in order to standardize the international risk management system, improve the international financial services of risk management ability.译文商业银行信贷风险管理作者：Cornett M, Strahan P摘要信贷风险是商业银行经营过程中所面临的最主要的风险之一。
商业银行风险管理论文
商业银行风险管理论文商业银行风险管理摘要：随着金融市场的发展，商业银行面临着越来越多的风险。
为了保护自身利益并维持稳定的经营，商业银行需要管理和控制这些风险。
本论文旨在探讨商业银行风险管理的重要性、风险管理的方法和工具，以及风险管理对商业银行业绩的影响。
1. 引言商业银行作为金融市场的核心机构，在金融中介的过程中承担着很多风险。
在金融危机时期，一些商业银行因为风险管理不善而陷入危机。
因此，风险管理对商业银行来说至关重要。
2. 商业银行风险管理的重要性风险管理是商业银行业务和管理的重要组成部分。
它有助于商业银行避免和减少可能出现的风险，并保护公司和股东利益。
风险管理还有助于增强商业银行的经营稳定性，并提高商业银行的声誉。
3. 商业银行风险管理的方法和工具商业银行可以采取多种方法和工具来管理风险。
首先是风险评估和分类。
商业银行可以对各种风险进行评估，并根据风险的严重程度对其进行分类。
其次是风险控制和监测。
商业银行可以通过设立风险控制和监测机制来减少风险的发生和影响。
最后，商业银行可以采取风险转移和分散策略。
商业银行可以购买风险保险，将部分风险转移给保险公司，或者通过投资多样化来分散风险。
4. 风险管理对商业银行业绩的影响有效的风险管理对商业银行的业绩具有重要影响。
首先，风险管理可以帮助商业银行降低损失风险，保护其资金和利润。
其次，风险管理可以提高商业银行的信誉和声誉，进而吸引更多的客户和投资者。
最后，风险管理可以提高商业银行的经营效率和效益，从而提高其盈利能力。
5. 结论商业银行风险管理是一个复杂而重要的领域。
商业银行需要量化和管理各种风险，以保护自身利益并提高绩效。
有效的风险管理可以提高商业银行的稳定性、信誉和盈利能力，从而为其长期发展奠定基础。
因此，商业银行应该不断改进和更新风险管理方法和工具，并建立健全的风险管理体系。
继续写相关内容：6. 商业银行风险管理的挑战商业银行面临着许多风险管理的挑战。
商业银行风险管理的过程
商业银行风险管理的过程商业银行风险管理的过程概览风险管理是商业银行运营中至关重要的一环。
在面临复杂的市场环境和金融产品的同时，银行必须制定相应的风险管理策略来保护其贷款和投资组合，以确保其稳健的财务状况和可持续的发展。
本篇文章将介绍商业银行风险管理的过程，包括风险识别、测量、监控和控制。
风险识别风险识别是风险管理的第一步。
商业银行必须识别和理解其所面临的各种风险，包括信用风险、市场风险、操作风险和法律风险等。
为了实现这一目标，银行需要建立一个完善的风险识别系统，通过收集和分析各种内外部信息来确定其面临的风险。
在信用风险方面，商业银行需要评估贷款和债务投资的违约风险。
为此，银行可以使用抵押品评估和信贷评级等方法来确定借款人的信用风险。
此外，商业银行还需要关注市场风险，包括利率风险和汇率风险。
通过监测市场价格波动和计算敏感性指标，银行可以对其敞口进行评估。
此外，操作风险和法律风险也需要得到充分关注，银行需要制定相应的内部控制措施来减少员工和外部因素引起的风险。
风险测量风险测量是风险管理的重要一环。
商业银行需要使用定量方法来度量其风险曝露和潜在损失。
对于信用风险，银行可以使用概率模型和违约概率来衡量。
市场风险可以通过定义敞口和使用价值风险模型进行测量。
操作风险和法律风险的测量较为复杂，需要根据历史数据和模型进行估计。
在风险测量方面，商业银行需要确保使用合适的方法和模型，并定期审查和验证其准确性和适用性。
此外，银行还需要测量其风险集中度，以避免过度风险集中而引发系统风险。
风险监控风险监控是风险管理的核心环节。
商业银行需要建立一个有效的风险监控系统，持续跟踪和监控其风险曝露和潜在损失。
这需要收集和分析大量的数据和信息，并使用风险指标和指标来监控风险水平。
在风险监控方面，商业银行需要及时发现和报告风险暴露的变化，并采取相应的措施来管理风险。
风险监控还需要与内部审计、合规和风险管理部门紧密合作，确保风险管理的有效性和合规性。
商业银行风险管理的过程
商业银行风险管理的过程商业银行风险管理的过程是指银行为了减少和控制风险，而采取的一系列措施和方法。
这些措施和方法旨在确保银行能够稳定运作，并保护银行自身和客户的利益。
首先，在风险管理的过程中，商业银行需要进行风险识别。
银行通过识别潜在的风险，包括信用风险、市场风险、操作风险和法律风险等，以便及时采取相应的措施来预防和减少风险的发生。
在风险识别阶段，银行会借助市场研究、风险模型和风险评估等工具来确定潜在风险的存在和程度。
其次，商业银行需要进行风险评估和测量。
风险评估的目的是对风险进行定量和定性的评估，以确定风险的严重程度和可能性，并对风险进行分类和排序。
银行可以使用各种方法来评估风险，例如金融模型、数据分析和定量技术等。
通过风险评估，银行可以确定哪些风险是最为关键和紧迫的，从而在资源有限的情况下合理分配风险管理资源。
第三，在识别和评估风险后，商业银行需要采取适当的风险控制措施。
这些措施可能包括改变业务模式、加强内部控制、制定政策和规程、加强员工培训和监督等。
银行还可以通过购买保险或制定风险转移合同等方式来转移一部分风险。
通过实施风险控制措施，银行可以降低风险的发生概率和影响程度，从而保护自身和客户的利益。
最后，商业银行需要进行风险监测和报告。
风险监测是指对已经采取的风险控制措施进行跟踪和监督，以确保其有效性和及时性。
商业银行应该建立一套风险监测的指标和报告机制，定期评估和报告风险管理的效果，并作出相应的调整和改进。
综上所述，商业银行风险管理的过程包括风险识别、风险评估和测量、风险控制和风险监测和报告。
这一过程是不断循环迭代的，通过不断地识别、评估、控制和监测风险，商业银行能够更好地管理和应对风险，保护自身和客户的利益，确保银行的稳定运作。
商业银行作为金融机构，涉及大量的资金流动和业务交易，风险管理的重要性不言而喻。
商业银行风险管理的过程是持续的、循环的，并需要不断地进行修订和完善，以应对市场环境的变化和风险的不断演化。
商业银行的风险管理
论商业银行的风险管理摘要商业银行以其雄厚的资金实力、全方位的服务、完备的管理体系，在社会资源的有效配置和保持经济的持续稳定增长具有举足轻重的作用，使其在金融市场中具有无可比拟的替代性和重要性。
市场经济条件下，商业银行在经营过程中面临着各种各样的风险，因而，商业银行风险管理这一决定商业银行发展的关键因素越来越成为决定银行未来的重要因素。
本文试图通过了解商业银行风险，阐述商业银行风险管理的职能、意义、目标，进而对商业银行风险管理发展阶段的研究，得出了解商业银行风险在中国的发展之路。
关键词：商业银行风险管理商业银行风险管理1.商业银行风险1.1风险的定义对风险的系统的理论研究起源于近一个世纪。
1985年美国学者海斯首先提出风险是损失发生的可能性[1]。
随后，美国芝加哥大学的教授奈特提出风险是一种概率性随机事件，可以向好的方向，也可以向坏的方向，可能带来收益，也可能带来损失。
这两个对风险的定义对往后的风险定义提供了两方面思路的分析：其一是认为风险带来损失的不确定性；其二是认为风险是一种不确定性，这种不确定性即可能带来损失，也可能带来收益。
1.2商业银行风险的特点突发性。
由于管理者科学决策的有限性和市场变化的复杂性，因而难以预知其发生的具体地点、具体时间，这个特征属于风险的起因性特征；威胁性。
商业银行风险是对银行价值或目标造成的一种威胁和危害，危害着商业银行基本目标的实现，危及客户和公众的安全感，对社会造成重大损失，这是风险的结构性特征；潜变性。
风险的爆发只需要短时间就可以，但是在风险爆发前的演变却需要一个过程，这便是一个量变到质变的过程；可挽救性。
风险的难以预测毋庸置疑，但是风险却是可以通过调整内外部环境，实行科学管理，完善银行体制等进行挽救的。
1.3商业银行风险的成因1.3.1.宏观经济环境的影响:A.国家经济政策；引起经济活动中投资总量、投资结构、行业分布、外汇流动等变化，影响到相关产业的经营状况和发展前景，进而影响银行经营的安全性、流动性和效益型目标的实现。
商业银行会计风险的防范外文文献.pdf
论会计风险理论的构建—兼谈会计方法与会计工作质量Author：Jorion. PhilippeSource：Accounting Review现代社会中，风险具有普遍性。
可以说风险与人类的经济活动形影相随。
一般认为，风险是不确定事件发生后给人们带来损失的可能性。
本世纪六十年代，西方风险管理理论已经比较成熟，风险管理进入经济活动的各个方面。
随着政治变化、经济高度发展和科学技术进步，企业之间竞争加剧、经营环境日趋复杂，企业风险加大，可能随时面临倒闭危险。
竞争和风险迫使企业家认识到风险管理的重要性，认识到客观环境存在的不确定情况是进行管理决策必需、非常重要而有用的信息。
会计变得越来越重要，但也对会计提出了更高的要求。
一、会计风险的涵义会计风险是指会计信息和会计管理的不确定性给企业、投资者、债权人或其他有关方面带来损失的可能性。
会计具有反映和管理职能，从这一角度来分析，会计风险具体表现为会计信息风险和会计管理风险。
会计职能扩大，其相应的风险增加。
会计信息风险是指会计信息反映的财务状况、经营成果、资金变动及其他情况的不确定性给企业和其他信息使用者带来损失的可能性。
这种不确定性是由于客观原因、会计自身尚未弥补的缺陷或会计人员没有意识到的主观原因造成的。
会计管理风险是指在生产经营管理过程中会计预测、决策、计划、控制、分析、考核等管理活动的不确定性给企业带来损失的可能性。
管理风险是客观存在的，会计管理风险存在于各主要管理环节。
会计应以其特有的方式尽可能降低管理的不确定性，防范决策、计划和控制等风险。
二、构建会计风险理论的必要性会计风险理论在会计理论和实务中均占有重要地位，建立和发展会计风险理论可以促进会计理论的建设和会计工作的有效开展。
会计风险与会计理论中的很多重要问题都有密切关系，包括会计目标、会计假设、会计概念、会计准则、会计方法和会计责任等。
(一)会计风险与会计目标会计目标是指会计活动要达到的预期结果。
会计目标决定会计活动及其有效性，如果某项会计活动不能达到特定的会计目标，则势必导致会计风险的产生。
美国次贷危机对我国商业银行外文文献翻译 (2)
商业银行风险管理Arunkumar Dr. G. Kotreshwar1.序言1.1个风险管理银行业的未来无疑将十分关注风险管理动态，只有行之有效的风险管理系统银行才能在未来的市场中长期生存。
信用风险管理对于经融机构全面风险管理来说是一项重要的、长期的、行之有效的风险管理，由于银行对其本质业务的继承，所以信用风险是其最老、最大的风险管理。
只不过由于各种原因在不久之前获得了重大发展。
其中最要的是在全球范围内一时兴起的经济自由化。
印度也不由自主的走向了这个经济自由化，从而加剧了从内部到外部的国家经济竞争。
无论在数量上还是体制上都导致了市场的动荡，这就导致了风险的多样性。
前期成功的信贷风险管理是一个所涉及的风险信贷，银行风险中定量的每一项投资组合作为组合信用风险。
信用风险管理的基础是建立一个框架，这个框架规定了企业优先级别、信贷批准流程、信用风险评级系统，经过风险调整定价系统，贷款审查机制和全面的报告系统。
1.2研究的意义：单个银行的基本贷款业务给整个银行系统带来了麻烦。
因此，我们必须让银行系统有足够的个别项目的信用评估，评估风险以及整合行业为一个整体。
一般来说，印度各银行通过传统的提案项目融资工具进行评估，计算最大的允许范围，评估管理功能和顶级的处方的行业风险。
由于银行业进行到一个高性能的世界融资和交易中，新的风险，需要的是更加复杂和多样性的系统为风险评估、监测和控制风险敞口。
因此，它是银行管理层装备完全应对需求的创建工具和系统能够评估、监控和风险敞口采用的科学方法。
信用风险，即违约的借款人偿还贷款，至今为止仍是重要的风险管理。
信用风险的支配地位甚至能反映组成的经济资本，银行必须警惕身边有各种针对性的风险。
就统计，信贷风险需要占到70%，剩下的30%是另外两个之间共享的主要风险，即市场风险（变化的市场价格和运营风险失败、内部控制等）质量借款人能够直接进入资本市场而无需通过债务途径。
因此，现在相对较小的借款人贷款途径更加开放。
- 1、下载文档前请自行甄别文档内容的完整性，平台不提供额外的编辑、内容补充、找答案等附加服务。
- 2、"仅部分预览"的文档,不可在线预览部分如存在完整性等问题,可反馈申请退款(可完整预览的文档不适用该条件!)。
- 3、如文档侵犯您的权益，请联系客服反馈,我们会尽快为您处理(人工客服工作时间：9:00-18:30)。
毕业设计（论文）外文文献翻译文献、资料中文题目：商业银行的风险管理：一个分析的过程文献、资料英文题目：Commercial Bank Risk Management: AnAnalysis of the Process文献、资料来源：文献、资料发表（出版）日期：院（部）：专业：班级：姓名：学号：指导教师：翻译日期： 2017.02.14外文文献翻译Commercial Bank Risk Management: An Analysis of the Process外文文献：Commercial Bank Risk Management: An Analysis of the Process AbstractThroughout the past year, on-site visits to financial service firms were conducted to review and evaluate their financial risk management systems. The commercial banking analysis covered a number of North American super-regionals and quasi±money-center institutions as well as several firms outside the U.S. The information obtained covered both the philosophy and practice of financial risk management. This article outlines the results of this investigation. It reports the state of risk management techniques in the industry. It reports the standard of practice and evaluates how and why it is conducted in the particular way chosen. In addition, critiques are offered where appropriate. We discuss the problems which the industry finds most difficult to address, shortcomings of the current methodology used to analyze risk, and the elements that are missing in the current procedures of risk management.1. IntroductionThe past decade has seen dramatic losses in the banking industry. Firms that had been performing well suddenly announced large losses due to credit exposures that turned sour, interest rate positions taken, or derivative exposures that may or may not have been assumed to hedge balance sheet risk. In response to this, commercial banks have almost universally embarked upon an upgrading of their risk management and control systems.Coincidental to this activity, and in part because of our recognition of the industry's vulnerability to financial risk, the Wharton Financial Institutions Center,with the support of the Sloan Foundation, has been involved in an analysis of financial risk management processes in the financial sector. Through the past academic year, on-site visits were conducted to review and evaluate the risk management systems and the process of risk evaluation that is in place. In the banking sector, system evaluation was conducted covering many of North America's super-regionals and quasi±money-center commercial banks, as well as a number of major investment banking firms. These results were then presented to a much wider array of banking firms for reaction and verification. The purpose of the present article is to outline the findings of this investigation. It reports the state of risk management techniques in the industry—questions asked, questions answered, and questions left unaddressed by respondents. This report can not recite a litany of the approaches used within the industry, nor can it offer an evaluation of each and every approach. Rather, it reports the standard of practice and evaluates how and why it is conducted in the particular way chosen. But, even the best practice employed within the industry is not good enough in some areas. Accordingly, critiques also will be offered where appropriate. The article concludes with a list of questions that are currently unanswered, or answered imprecisely in the current practice employed by this group of relatively sophisticated banks. Here, we discuss the problems which the industry finds most difficult to address, shortcomings of the current methodology used to analyze risk, and the elements that are missing in the current procedures of risk management and risk control.2. What type of risk is being considered?Commercial banks are in the risk business. In the process of providing financial services, they assume various kinds of financial risks. Over the last decade our understanding of the place of commercial banks within the financial sector has improved substantially. Over this time, much has been written on the role of commercial banks in the financial sector, both in the academic literature and in the financial press. These arguments will be neither reviewed nor enumerated here. Suffice it to say that market participants seek the services of these financial institutions because of their ability to provide market knowledge, transactionefficiency and funding capability. In performing these roles, they generally act as a principal in the transaction. As such, they use their own balance sheet to facilitate the transaction and to absorb the risks associated with it.To be sure, there are activities performed by banking firms which do not have direct balance sheet implications. These services include agency and advisory activities such as(1) trust and investment management;(2) private and public placements through ``bestefforts'' or facilitating contracts;(3) standard underwriting through Section 20 Subsidiaries of the holding company;(4) the packaging, securitizing, distributing, and servicing of loans in the areas of consumer and real estate debt primarily.These items are absent from the traditional financial statement because the latter rely on generally accepted accounting procedures rather than a true economic balance sheet. Nonetheless,the overwhelming majority of the risks facing the banking firm are on-balance-sheet businesses. It is in this area that the discussion of risk management and of the necessary procedures for risk management and control has centered. Accordingly, it is here that our review of risk management procedures will concentrate.3. What kinds of risks are being absorbed?The risks contained in the bank's principal activities, i.e., those involving its own balance sheet and its basic business of lending and borrowing, are not all borne by the bank itself. In many instances the institution will eliminate or mitigate the financial risk associated with a transaction by proper business practices; in others, it will shift the risk to other parties through a combination of pricing and product design.The banking industry recognizes that an institution need not engage in business in amanner that unnecessarily imposes risk upon it; nor should it absorb risk that can be efficiently transferred to other participants. Rather, it should only manage risks at the firm level that are more efficiently managed there than by the market itself or by their owners in their own portfolios. In short, it should accept only those risks that areuniquely a part of the bank's array of services. Elsewhere (Oldfield and Santomero, 1997) it has been argued that risks facing all financial institutions can be segmented into three separable types, from a management perspective. These are:1. risks that can be eliminated or avoided by simple business practices;2. risks that can be transferred to other participants;3. risks that must be actively managed at the firm level.In the first of these cases, the practice of risk avoidance involves actions to reduce the chances of idiosyncratic losses from standard banking activity by eliminating risks that are superˉuous to the institution's business purpose. Common risk-avoidance practices here include at least three types of actions. The standardization of process, contracts, and procedures to prevent inefficient or incorrect financial decisions is the first of these. The construction of portfolios that benefit from diversification across borrowers and that reduce the effects of any one loss experience is another. The implementation of incentivecompatible contracts with the institution's management to require that employees be held accountable is the third. In each case, the goal is to rid the firm of risks that are not essential to the financial service provided, or to absorb only an optimal quantity of a particular kind of risk.There are also some risks that can be eliminated, or at least substantially reduced through the technique of risk transfer. Markets exist for many of the risks borne by the banking firm. Interest rate risk can be transferred by interest rate products such as swaps or other derivatives. Borrowing terms can be altered to effect a change in their duration.Finally, the bank can buy or sell financial claims to diversify or concentrate the risks that result from servicing its client base. To the extent that the financial risks of the assets created by the firm are understood by the market, these assets can be sold at their fair value. Unless the institution has a comparative advantage in managing the attendant risk and/or a desire for the embedded risk which they contain, there is no reason for the bank to absorb such risks, rather than transfer them.However, there are two classes of assets or activities where the risk inherent in the activity must and should be absorbed at the bank level. In these cases, goodreasons exist for using firm resources to manage bank level risk. The first of these includes financial assets or activities where the nature of the embedded risk may be complex and difficult to communicate to third parties. This is the case when the bank holds complex and proprietary assets that have thin, if not nonexistent, secondary markets. Communication in such cases may be more difficult or expensive than hedging the underlying risk. Moreover, revealing information about the customer may give competitors an undue advantage. The second case includes proprietary positions that are accepted because of their risks, and their expected return. Here, risk positions that are central to the bank's business purpose are absorbed because they are the raison of the firm. Credit risk inherent in the lending activity is a clear case in point, as is market risk for the trading desk of banks active in certain markets. In all such circumstances, risk is absorbed and needs to be monitored and managed efficiently by the institution. Only then will the firm systematically achieve its financial performance goal.4. How are these risks managed?In light of the above, what are the necessary procedures that must be in place in order to carry out adequate risk management? In essence, what techniques are employed to both limit and manage the different types of risk, and how are they implemented in each area of risk control? It is to these questions that we now turn. After reviewing the procedures employed by leading firms, an approach emerges from an examination of large-scale risk management systems. The management of the banking firm relies on a sequence of steps to implement a risk management system. These can be seen as containing the following four parts:1. standards and reports,2. position limits or rules,3. investment guidelines or strategies, and4. incentive contracts and compensation.In general, these tools are established to measure exposure, define procedures to manage these exposures, limit individual positions to acceptable levels, and encourage decision makers to manage risk in a manner that is consistent with the firm's goals andobjectives. To see how each of these four parts of basic risk-management techniques achieves these ends, we elaborate on each part of the process below. In section 4 we illustrate how these techniques are applied to manage each of the specific risks facing the banking community.1.Standards and reports.The first of these risk-management techniques involves two different conceptual activities, i.e., standard setting and financial reporting. They are listed together because they are the sine qua non of any risk system. Underwriting standards, risk categorizations, and standards of review are all traditional tools of risk management and control. Consistent evaluation and rating of exposures of various types are essential to an understanding of the risks in the portfolio, and the extent to which these risks must be mitigated or absorbed.The standardization of financial reporting is the next ingredient. Obviously, outside audits, regulatory reports, and rating agency evaluations are essential for investors to gauge asset quality and firm-level risk. These reports have long been standardized, for better or worse. However, the need here goes beyond public reports and audited statements to the need for management information on asset quality and risk posture. Such internal reports need similar standardization and much more frequent reporting intervals, with daily or weekly reports substituting for the quarterly GAAP periodicity.2.Position limits and rules.A second technique for internal control of active management is the use of position limits, and/or minimum standards for participation. In terms of the latter, the domain of risk taking is restricted to only those assets or counterparties that pass some prespecified quality standard. Then, even for those investments that are eligible, limits are imposed to cover exposures to counterparties, credits, and overall position concentrations relative to various types of risks. While such limits are costly to establish and administer, their imposition restricts the risk that can be assumed by anyone individual, and therefore by the organization as a whole. In general, each person who can commit capital will have a well-defined limit. This applies to traders,lenders,and portfolio managers. Summary reports show limits as well as current exposure by business unit on a periodic basis. In large organizations with thousands of positions maintained, accurate and timely reporting is difficult, but even more essential.3.Investment guidelines and strategies.Investment guidelines and recommended positions for the immediate future are the third technique commonly in use. Here, strategies are outlined in terms of concentrations and commitments to particular aras of the market, the extent of desired asset-liability mismatching or exposure, and the need to hedge against systematic risk of a particular type.4.Incentives schemes.To the extent that management can enter incentive compatible contracts with line managers and make compensation related to the risks borne by these individuals, then the need for elaborate and costly controls is lessened. However, such incentive contracts require accurate position valuation and proper internal control systems.中文译文：商业银行的风险管理：一个分析的过程摘要在过去一年里,我们通过现场参观金融服务公司来进行审查和评估其金融风险管理系统。