Research On Risk Management Of Proprietary Business Of H Securities Company

As one of the important businesses of securities companies,securities proprietary business has become an important development direction and revenue contribution source of securities companies.Proprietary business is characterized by high risks and high returns.However,various securities companies generally pay insufficient attention to risk management.Proprietary business without good risk management is like a time bomb,which seriously affects the stable development of the company.In 2021,Company H will be ranked 32 nd in China in terms of industry comprehensive strength,and its comprehensive strength will be in the top 30% in China.However,it continues to expand its self-operated business with high risks,accounting for 64.28% of its business,and this proportion has continued to rise in recent years.In 2021,the industry rating of Company H will be lowered from A to BBB,and many core business indicators will drop in the industry ranking,adding uncertainty to its IPO.It shows that there are certain defects in the expansion of company H’s self-operated business.This paper aims at the problems existing in the company’s self-operated business,and studies the risk of its self-operated business.Firstly,starting from the risk management system and self-operated business status of Company H,identify the risks of Company H’s self-operated business from the two aspects of systematic risk and non-systematic risk,and use the environmental analysis method and decomposition analysis method to analyze the risks of Company H respectively.Market macro-environmental risks,policy risks,force majeure risks,compliance risks,operational risks,and regulatory rating downgrade risks,and found that Company H has inadequate implementation of risk management systems,insufficient number of self-operated risk control personnel,imperfect quantitative model development,and information systems.unhealthy,etc.Secondly,measure the risk of company H’s self-operated business: use financial indicators to compare the risk of company H’s self-operated business industry,and find that the scale of company H’s self-operated business is relatively unstable,and the selected equity products are relatively high,resulting in a relatively high risk.It is high among companies in the same industry;the Va R model is used to quantify the overall risk of Company H,and the Va R value is calculated and analyzed.The data shows that the loss of Company H’s self-operated business is close to the reserve of risk capital;the AHP is used to analyze the risk of Company H’s self-operated business.Quantitative analysis of business risks was carried out,a judgment matrix was drawn,and a comparative analysis was carried out through weights.It was found that Company H still needed to pay attention to the control of risks inherent in products,operational risks,and compliance risks.Finally,according to the problems and causes found in the identification and measurement of H company’s self-operated business risks,the countermeasures and safeguards for H company’s self-operated business risk management are put forward.This paper proposes countermeasures from three aspects: optimizing risk control quantitative model,developing risk control information system and improving investment decision-making efficiency,and proposes corresponding safeguard measures from the perspective of risk management system,risk control team and business process control.The improvement and perfection of the self-operated business risk management system can provide guarantee for the risk control of H company in the IPO process,and provide help for H company’s self-operated business operation and development direction in the future.