The Research On The Operational Risk Management Of Commodity Futures Investment Of H.R. Ltd. Company

The futures market of our country is now in the initial developing stage. The price discovery function and the hedging function of this market are gradually exhibiting their effects. More and more enterprises take part in the futures market with the expectation of hedging and increasing the value of commodity. However, they are also encountered with the problems that how to manage various risks. This thesis, based on analyzing the actual circumstance of the studied company, pointed out that the company needed to resolve the problem of the operational risk management, and then investigated the reasonable operational risk management in the process of commodity futures investment.According to the actual circumstance of the company, the thesis applied the foundational theories of the risk management and the operational risk management to design the suitable frame of operational risk management for the company in the field of commodity futures investment. The thesis first proposed an operational risk management system of commodity futures investment, which included a lengthways subsystem composed of the discernment, appraisement, control and feedback of operational risk and a horizontal subsystem composed of the operational risk management related enterprise organization and regulation. The two subsystems correlated and supported mutually, and ultimately formed a suitable two-dimensional system of operational risk management for the company. According to the statistical data of the futures investment in the company, the lengthways subsystem was studied with the qualitative and quantitative analytic methods of the risk discernment table, the risk coordinate chart and the key risk index, while the horizontal subsystem was studied with the method of systems analysis, which made the company capable of reasonably managing the operational risk. In conclusion, the study enables the company to effectively manage the operational risk in the process of commodity futures investment by establishing the two-dimensional risk management system, and thus to fulfill the purpose of monitoring the risks and increasing the profits.The thesis has the application value for enterprises to manage the operational risk of commodity futures investment, and also provides the relative reference meaning for enterprises to manage other kinds of risks in commodity futures investment process and to solve some problems in operational risk management of financial futures investment.