Operational Risk Among Wealth Management Services From China’s Commercial Banks Under The Perspective Of Customers

With the sustained rapid growth of China’s economy, the constantly growing investmentphilosophy, as well as the loosing tend in financial innovation, commercial bank’s wealthmanagement services has emerged and developed in a rapid way as the times require.Although the amount of the products showed an explosive growth in recent years, ahigh-speed increasing risk appears, since the wealth management services business of ourcountry is still in its infancy. Meanwhile, a sound and mature regulatory system foroperational risk has not yet been built up currently, which leads to certain disputes betweencustomers and banks. In addition, there is not enough attention for the supervision of theoperational risk in the domestic academic circle, and the understanding of the operational riskare mostly based on the perspective of market regulators and bank managers, so the authorattempt to explain a new understanding of the connotation, extension and formationmechanism of the operational risk under the perspective of customers, after referring todomestic and foreign related literature.This paper begins with the current development of commercial bank wealth managementservices and product features, also a detailed exposition of the problems existing in thecurrent market, followed with an introduction and new understanding of the risk under theperspective of customers, then base on the “gap” of the contract, discuss the manifestationsand damages in design operation, sales operation and operational aspects of the operation.Finally, explore the mechanism of rational strategy selection of banks and customers in thecomplete information static, the complete information dynamic and the incompleteinformation dynamic game models, and come to the conclusion that it is difficult to achieve along-term integrity cooperation, namely the Nash equilibrium, by the spontaneous way in theimmature market state, thus propose appropriate recommendations at the end.