Research On Risk Analysis And Responses In Financial Shared Service Center Of H Company

The rapid development of internet and information technology has accelerated the process of financial transformation in the new era.The report of the 19 th National Congress proposed to build a ‘smart society' and promote the integration of the internet,big data,artificial intelligence and other modern technologies with the real economy.Financial shared service is one of the main ways of financial transformation.Since the end of the 20 th century,large group enterprises with many branches and wide geographical range have chosen the emerging financial management mode of financial shared service in order to reduce costs and improve operational efficiency on the construction of its own financial shared service center and achieved certain expected benefits.However,the operation of financial shared service center involves a series of factors,such as capital,system,process,personnel,law and regulations.Each factor contains risks that may affect the expected performance of the financial shared service center.If we can't effectively identify and prevent the risks,it will hinder the process of the implementation of the financial shared service and affect its effects.H Company is a branch company of China Telecom Group Limited Company in H province.Its exploration of building financial shared service center began in 2010.Under the leadership of China Telecom Group Limited Company,the financial shared service center of H Company completed the upgrading route from ‘centralized accounting' to ‘industry financial integration' and ‘smart finance'.It has realized the transformation from ‘constructing standardized financial and information system' to ‘intensive and shared intelligent financial shared service',and has developed into a more mature and stable financial shared system to provide accounting support for the whole company.H Company's financial shared service center involved problems such as capital management,operation management,staff loss,support system,tax problems and so on.If not timely identify the risk and take measures,it would cause unpredictable consequences.Only by doing a good job of risk identification,analysis and response,the enterprise can obtain the expected benefits from the financial shared service model and achieve long-term goals.The author took H Company and its financial shared service center as the object of study.First of all,from the related theory of financial shared service and risk management,the method of risk identification and analysis applied was identified.Secondly,after the in-depth and comprehensive analysis on the operation of H Company's financial shared service center,the author identified the risk of H Company's financial shared service center by Questionnaire Survey and Literature Analysis.At the same time,the author analyzed and discussed the main risk consequences which caused by the risk factors.On the basis of this,the questionnaire item was designed and the questionnaire survey was done.Thirdly,the analysis was carried out by using SPSS descriptive statistical software.Then,principal component analysis and factor analysis were used to extract common factors,and orthogonal rotation of factors was used to identify the basic features of common factors.Then,the author used Pearson Correlation Analysis to test the correlation between risk factors and risk outcomes.Finally,according to the results of risk analysis and literature research,the author made suggestions on H Company's financial shared service center to prevent the 5 major types of risk.At the same time,reference on risk management for the related companies' financial shared service centers was provided.The innovation of the study was to study the risk management in the operation of financial shared service center by case study.It is concluded that the financial shared service center should focus on the risk of fund security,information security and personnel management factors.Where personnel management risk may affect all aspects of the financial shared service center,capital and information security are critical to the healthy operation of the enterprise,which may result in,for example,inefficient financial operations,funds and information security problems and other risk consequences.Therefore,enterprises should focus on the identification,analysis and prevention of the risk in the key aspects where the risk is likely to occur.Enterprises could realize scientific rotation in financial shared service center and establish perfect training mechanism,enterprise may also use the PDCA cycle to establish the budget monitoring mechanism and use block chain,big data and other advanced scientific means to take appropriate preventive measures.