Research On Operational Risk Management Of Commercial Banks Under The Internet Of Things Financial Format

With the wide application of Internet of Things technology in the world,Internet of Things finance,a new format,came into being.Internet of Things Finance has changed the traditional financial industry's way of collecting information by supervisor verification,and promoted the financial industry to realize objective verification of the whole process.Under this new format,financial institutions such as commercial banks can realize safer and more convenient financial services such as payment,financing and asset management through the application of Internet of Things technology and communication network technology.Internet of Things Finance has brought new ideas to the operational risk management of China's commercial banks by opening up all kinds of data online and offline,organically integrating information flow,capital flow and entity flow,and comprehensively mastering the real economic dynamics.Therefore,it is of great theoretical and practical significance to study the impact of Internet of Things finance,a new form of business,on the operational risk management of commercial banks and the new ideas of risk management.This paper measures the operational risks of commercial banks under the financial format of the Internet of Things.First of all,it summarizes the theory of operational risk management of commercial banks at home and abroad and the new business form of Internet of things finance.Secondly,according to the classification of operational risks by Basel Committee and the application of Internet of Things technology in commercial banks under the current Internet of Things financial format,the operational risks of commercial banks are divided into five categories: internal fraud,external fraud,loss and damage of pledged goods,operational error risks of employees and Internet of Things system risks arising from the new format of Internet of Things finance.Subsequently,the author collected the loss data of various types of operational risks of commercial banks in China from 2010 to 2017 through open channels.By constructing the extreme value theory model POT exceeding threshold model and combining with the control variable method,the author measured and empirically analyzed the operational risks of traditional commercial banks in China and commercial banks under the Internet of Things financial format in turn,and calculated the corresponding Va R and ES values respectively.Comparing the operational risk of traditional commercial banks in China with the ES value of commercial banks' operational wind under the Internet of Things financial format,the measurementresults show that the latter can effectively reduce the operational risk of commercial banks.Therefore,commercial banks should vigorously promote the deployment and application of Internet of Things technology and actively carry out Internet of Things financial business.At the end of the paper,the author puts forward some suggestions on the operational risk management of commercial banks under the Internet of Things financial format.