德勤-信用风险管理

RISK MANAGEMENT
Recoveries
Disposal / Risk
mitigation
Collections
Exposure measurement
Customer management
Portfolio management
Credit Decisions
Pricing & terms
– Project Finance – Structured Transactions – Leases with Recourse
• Derivatives Exposures
– FX, Interest Rate Risk, Commodities etc.
• Collateral Risk
– Parent or Third Party Guarantees – Commercial and Standby Letters of Credit
Credit Policies & Procedures
Credit Strategy & Risk Tolerance
Governance, Control and Implementation
Measurement Methodologies
Analysis & Risk
Management
Technology & Data Integrity
Management Review Methodology
Improve Profitability
Common Performance
Metrics
Credi t Strategy/Plan
Credit Objectives and Risk
Tolerances
Credit Policies
Credit Risk Management
2020/11/16
Performance Management
Performance-based management utilizes metrics that measure actual performance against predetermined thresholds. The thresholds are established taking into account the organization’s strategy, operating environment and process controls.
Pricing decisions,Performance measurement, business and customer segmentation, compensation, etc.
Near Term: Managing Economic Capital / Credit VaR
Portfolio Risk Concentration, Risk Based Limits, etc.
flows • Failures in corporate governance • Questionable personal and corporate ethics
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Implications for Corporate Governance
• Current organization structures to be revisited • Clarity around roles and responsibilities • Need for honesty, integrity and independence
Short Term: Managing Expected Loss
Risk Identification, Transaction Structuring, Approval & Pricing Decisions, Reserving, etc.
Foundation: Credit Rating and Underwriting Standards
Risk Identification, Origination, Credit Administration, etc.
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Development Stages
– Note also that Critical Suppliers to the company may pose specific credit risk
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Credit as a Facilitator
• Credit risk management is important
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Credit Strategy & Risk Tolerance
Credit Strategy Statement and Specific Quantifiable Objectives Risk Tolerance
Coordination with Business Plan
requirements
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Credit Risk Management – Strategic Vision
A business model view of Credit Risk Infrastructure components
Vision: Managing Risk/Return
• Effective credit risk management limits credit losses and provides stable cash flows and earnings – Marketplace rewards companies exhibiting earnings and cash flow stability with higher P/E multiples – Marketplace penalizes credit induced volatility and “surprises” • Raises questions about quality of management
2020/11/16
Corporate Credit Risk
• Companies are exposed to significant levels of credit risk emanating from different sources
• Accounts Receivables • Other Notes Receivables • Buyer and Franchise Financing • With Recourse Financing
德勤-信用风险管理
2020/11/16
Value Proposition
• Credit plays a critical role in “selling” products and services – Expands revenue opportunities with creditworthy, incremental customers – Utilizes innovative structures to support business relationships
CREDIT POLICY
Origination
Sales channels
Credit Analysis
Financial analysis
Credit analysis
Risk rating
Credit scoring
Reporting
Management reporting
Exposure aggregation
– Credit is a facilitator of business growth and performance
– High business margins tend to attract lower quality clients and therefore higher risk profile to manage
Business Strategy Systems Operations Finance
Business Performance
Measures
Value Creation
Organizations need a rigorous set of measures to support continuous improvement
Credit limit
Collateral acceptance
Compliance
Transactions
Collateral management
Contracts & Documentation
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Credit Risk Management
来自百度文库
A complete and coherent risk management framework contains the following elements
The measures drive value creation and should support problem identification and correction.
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Credit Risk Management’s Inter-related Activities
Processes
Reporting
The business strategies and objectives drive the establishment of credit policies and procedures. Measurement and reporting as well as the use of current technologies enhance credit decision-making and improve risk 2020/1m1/1a6nagement. The entire process is continually re-evaluated and improved.
(self-regulation) • Technical expertise of people and strong
management processes • Improved disclosure requirements • Importance and implementation of sanctions • Increased legislation and compliance
– Clients (buyers) may be concentrated in selected industries and provide limited portfolio diversification opportunity
– Poor credit risk management resulting in negative impact to bottom-line is heavily penalized by markets
• The idea that stock market values would continue to go up indefinitely
• Increasingly competitive, complex and volatile market place
• Higher than expected actual debt burdens • Extensive reliance on unrealistic future cash
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R e a s s e s s m e n t C r e d i t S t r a t e g y & R i s k T o l e r a n c e
A New Paradigm
• A new business paradigm had evolved: causing a lack of reliance on good fundamental analysis