Research On The Enterprise Risk Management Evaluation System Of Chinese Securities Companies Based On The New ERM Framework

In recent years,under the policy of deregulation of the China Securities Regulatory Commission and related regulatory agencies,the securities industry has entered a new opportunity for rapid development.The scope of the securities business and the types of products have been expanded,the scale of the assets is expanding,and the profitability and capital strength have been greatly enhanced.However,as the speed of industry development is accelerating,various new situations,problems and risks are also exposed.Securities companies need to improve their own risk management ability to improve their competitiveness.In order to strengthen the overall risk management ability of the securities companies,enhance the core competitiveness of the securities companies and ensure the steady and stable operation of the securities industry,the Securities Industry Association issued the "comprehensive risk management standard for securities companies" in 2016.Thus,it can be seen that the securities industry in China will step into the era of comprehensive risk management.This paper takes the comprehensive risk management of securities companies as the research object,summarizes the relevant research results at home and abroad,combs the current situation and existing defects of the risk management of China's securities companies.On the basis of the scholars' research,it combines the new demand of the times and the current situation of the development of China's securities industry.Building a comprehensive risk management evaluation system for securities companies based on the latest ERM framework released by COSO.This paper takes XB securities company as a case study.First,it combines AHP with improved grey relational analysis method to determine the weight of the index system.Secondly,the grey clustering analysis based on grey system theory is used to construct the evaluation model.The risk evaluation value of each level of XB securities company and the comprehensive risk evaluation value of the whole company are obtained.The overall risk management level of XB securities company is analyzed,and the concrete suggestions for improvement are put forward.It also puts forward countermeasures and measures to improve the comprehensive risk management ability of securities companies.