A Study On Comprehensive Risk Management In Chinese Enterprise Group Finance Companies

2014is the27th birthday of financial companies of enterprise groups in China. Since1987, Dong Feng automobile finance company——China’s first financial company was established. Financial company is playing an increasingly important role in the real economy, and it also becomes a powerful thrust to promote financial reform.In recent years, with the rapid development of our country’s economy and the continuous expansion of enterprise management, a number of large enterprise groups, gradually formed. As a group financial company, the internal financial institutions, collectivize management and operation of the enterprise plays a significant role to enhance the core competence of enterprises. Through the internal settlement business, financial companies gather capital effectively, adjust capital and optimize configuration of group internal resources. Financial company by strengthening enterprise group as a whole fund and foreign financing negotiation ability, alleviate the insufficient funds and external credit system contain pressure of enterprise development, play the effect of exogenous financing. Through the integrated use of proprietary loans, bills discounting, buyer’s credit service, financial companies has become a group of funds of the central nervous, help the firm to reduce financial cost, financing support to the continuous development of the enterprise, is the central government makes the big enterprise, big group of important strategic measures.The survival of the financial company is based on the group. Its survival and development to a great extent, depends on the industry characteristics of enterprise group, financial condition and comprehensive strength. Financial companies is to provide financial services for the inside of a group of non-financial institutions, not only is the member companies within the group, is also a financial institution, the particularity of its status to inherit from the double risk of financial institutions and enterprise groups, financial risks, not only are affected by group industry risk and the risk of financial company itself. As financial institutions, financial companies operating the traditional business of commercial bank, securities investment business, finance, equity investment, etc., thus facing the general risk of financial institutions, including interest rate exchange rate movements such as market risk, credit risk, operational risk, liquidity risk and legal risk. At the same time, the financial company service objects and management field are mainly concentrated in the group, will receive industry group, the group itself industry management risk and the risk of the member unit of the influence of operating risk. Enterprise group operating condition is good, the financial company management usually is better also, enterprise groups of poor management, its financial companies usually also to revive. Group’s internal risk has a strong conductivity, the management risk of the group members within the enterprise can also through internal conduction mechanism transmission to the financial company. Because of the enterprise group and financial company are highly interdependent relationship, especially the financial company focused group member unit of capital, capital risk in largely focused on financial companies, financial companies once major risk events, the loss will be huge, not only harm to the whole enterprise group, also threaten the stability of the financial system. Therefore, the enterprise group and financial company in order to control risk, must set up the consciousness of risk management, strengthen financial company’s comprehensive risk management is an indispensable part of the group company strategy development. But at present, our country finance company but not enough emphasis on risk management, risk awareness is weak, lack of risk system and culture, so the degree of attention to the risk control needs to be strengthened.This article is divided into the following six parts, which separately elaborates the comprehensive risk management of financial company. The first part expounds the research background of finance companies, and to conduct a comprehensive risk management of financial company survival and development in theoretical and practical significance, and research methods and framework of this article has carried on the brief introduction. The second part summarizes the group finance companies, and risk management. On the theoretical basis for comprehensive risk management, information asymmetry theory, the internal capital market theory and the theory of comprehensive risk management was explained. The third part analyzes the overall risk management of financial company current situation and existing main problems. The fourth part:to the enterprise group finance company comprehensive analysis of the causes of the problems of risk, from four aspects:not to promote risk management to a strategic height, the lack of corresponding inter-disciplinary talent, the risk of infectious degree is insufficient, and the lack of risk culture construction, analyzes the risk of a financial company. The fifth part is case analysis. This part of the comprehensive risk management of western financial firms has carried on the comparative analysis, Siemens and Ericsson listed two foreign financial firms successful typical cases on the overall risk management, came to the financial company’s risk management experience for reference to our country. The sixth part expounds the perfect financial company’s risk management advice. Including: clarify the responsibilities of group finance companies and other departments, establish and improve the effective connection group finance company and the subsidiary risk management work mechanism, perfecting enterprise group finance companies a comprehensive information management system and strengthen the overall risk management of enterprise group finance company culture construction from four aspects.