Research On Risk Management Of Enterprise Asset Securitization Business

With the rapid increase in scale,the risk of asset securitization business is also constantly exposed.From the industry's first substantial default in 2016,the "Dacheng West Yellow River Bridge Toll Income Revenue Special Plan" will be re-opened to 2018.The "First Meeting of Qinghui Leasing",etc.,has increased the number of risk events in the industry,which has sounded the alarm for the risk management of the entire market.In the current environment of strict supervision of the financial industry and structural de-leveraging of the economy,the brokerage business income and IPO income of securities companies have been greatly reduced.Corporate asset securitization is becoming an important force for securities companies to create profits.However,due to the large number of participants in the operation of the asset securitization business,the complexity of the links,and the constraints of various environmental conditions,there are complex and diversified risk characteristics.For securities companies,the development of asset securitization business At the same time,risk management must be done.In this paper,the scale of the asset securitization market has increased sharply at the present stage,and the default events have frequently emerged as background.By summarizing the existing literature,the securities are based on the basic principles of asset securitization,risk management theory and information asymmetry theory.Research on risk management of corporate asset securitization business.Based on the six process steps of the enterprise asset securitization business,this paper determines the key risk links of the securities company as the plan manager in the business by combing and analyzing the current situation of market risk default events.On the basis of full investigation and analysis,determine the key links in the business process,and combine the current business management system of S Securities Company to design a risk assessment system for key links in the implementation process and the duration management risk after successful issuance.system.Finally,the risk assessment system is applied to the implementation process of the FH project.Through the system identification and risk management of the FH project risk,it provides reference and improvement suggestions for the risk management of the securities company's asset securitization project.The research finds that:(1)Asset securitization risk events mostly occur in the key aspects of the operation process,especially in determining the basic assets,credit increase rating,and duration management.Securities companies should carry out key risk management based on key links.(2)For the key links,there are different risk types for different projects.In the risk management of securities companies,it is necessary to establish a risk evaluation system and combine the project characteristics to conduct risk assessment and analysis.(3)S securities company FH project combined with S securities company's new risk management system,through the high-risk type of risk management of key links,successfully issued and provided reference for the risk management of securities company asset securitization projects.