Research On Financial Sharing Services Model Based Financial Management Of D Bank

As an important aspect of Enterprise Management, Financial Management is responsible for guaranteeing the liquidity of the enterprise’s economic lifeline. It determines the enterprise’s capital operating and supports for decision-making. Under the condition of modern market economy, to achieve the separation of financial accounting and management accounting has become an inevitable trend in enterprise financial management. Financial management based on the shared services model meets the enterprise’s requirements for integration of resources, reduction of administrative costs and improvement of efficiency against the background of globalization and informatization. By gathering and processing accounting work workload which is less related to successful decision-making, highly repeated and heavily overloaded, it makes the separation of financial accounting and management accounting possible. As a new way for integration of enterprise financial operations and rearrangement of management process, financial shared services has attracted full attention from the world both theoretically and practically.At present, commercial banks in China already posses the basic conditions for the implementation of financial shared services. The centralization of business data and the reform of flat management under secondary structure enable the commercial banks to adopt the management model based on financial shared services. Meanwhile. there is a continued steady growth in China’s banking card volume and the external environment supports for centralized card payment and accounting. Centralization of the financial management and development of IT technology of the commercial banks in China provide inner foundation for financial shared services. However, when compared with some international financial originations, Chinese commercial banks fall behind a lot as to the level of financial shared services due to late beginning and limited service target only within the bank, poor level of operation and management of the shared service center. So, how to implement financial shared services in a more scientific and standardized way has become an issue widely and generally concerned in the commercial banking industry.On the basis of review of relevant research results and under the guidance of relevant theory of financial shared services, this study explores the best practices for commercial banks about the model of financial shared services by selecting D bank as an example for research. This article summarizes and analyzes the feasibility and risk of implementing of financial shared services of D bank. It focuses on the general process, main subject of the implementation and the major change to financial management. Combined with the practice, it indicates factors affecting the process of implementation, problems and optimization suggestions and it provides more comprehensive, systematic thinking and paradigms for commercial banks to implement financial shared service model, in order to reduce management costs, improve service quality and efficiency, control financial risks and enhance the financial decision support capabilities.