Research On Risk Identification,Evaluation And Control Of Bond Underwriting Business Of A Securities Company

Effective risk management is the basic element of the survival and development of securities companies.Under the situation of "legal,comprehensive and strict" supervision,a securities company has been listed for a short time,facing the pressure of operating performance and higher operating requirements of the public company.As its business segment of vigorously expanding,enhancing competitiveness and increasing operating revenue,bond underwriting business has achieved rapid development and initially established a relatively sound risk management system,but there is still a certain gap with the requirements of the regulatory authorities for listed securities companies,As an area with high incidence of violations in the securities industry,bond underwriting business still needs to pay close attention to the potential risks.Firstly,this paper study the risk identification,evaluation and control of the bond underwriting business of a securities company,in order to improve the practice quality of the business,mitigate the risk,reduce the probability of being punished by the regulatory authorities,reduce the operation cost and improve the comprehensive operation strength of a securities company.Secondly,according to the comprehensive risk management theory and internal control theory,this paper use the questionnaire survey method and literature research method to identify the possible risk factors in the whole process of bond underwriting business,and use the fishbone diagram method and Delphi method to sort out the identified risks of bond underwriting business,so as to provide support for the establishment of the risk assessment system of bond underwriting by the lead underwriter.Then,according to the identified risk factors,this paper decompose them layer by layer according to the analytic hierarchy process,and then calculate the weight and total weight of each risk factor through the fuzzy comprehensive evaluation method based on entropy weight method,so as to build the risk evaluation system of bond underwriting business of securities companies.At the same time,taking a securities company as a data sample,this paper deeply analyzes the risk level faced by its underwriting corporate bonds,and finds the weak link of risk management.Finally,this paper put forward targeted solutions and suggestions according to the possible risk management weaknesses and key concerns of the bond underwriting business of a securities company,so as to promote the steady and rapid development of the bond underwriting business of a securities company,and also provide reference for other companies to carry out risk assessment.