Research On Risk Management Of Inclusive Finance Business Of AY Financing Guarantee Compan

As a key link in the financing process,financial guarantee agencies play an important role in credit enhancement.However,since the beginning of the 21st century,there have been major negative incidents of guarantee companies such as Shengwo Guarantee Case,Huitong Guarantee Case,Zhonghai Xinda Case and Hebei Rongtou Case,etc.,the importance of risk management in the business of financial guarantee companies has started to be highlighted.Especially in the field of inclusive finance,risk management is more important because the financing subjects involved in inclusive finance include small and micro enterprises and "three rural areas",which are relatively high-risk groups.This paper takes AY Financial Guarantee Company as the main research subject,takes its inclusive finance business as the main research scope,takes risk management of inclusive finance business as the main research direction,combines my working experience in the financial guarantee industry,along the line of "risk identification→risk evaluation→risk response/optimization",and aims to provide some theoretical and practical guidance for the risk management of the company and its healthy development.This paper uses literature research method,questionnaire survey method and hierarchical analysis method as the main research methods.Risk identification was first conducted by means of questionnaires.In order to ensure the accuracy of risk identification,three rounds of questionnaires were set up in this paper.The first round of questionnaires was completely open-ended,with respondents describing the relevant risks at will;the questions collected were then aggregated and organized according to the results of the first round of surveys,resulting in 27 questions.Following this,a second round of questionnaires was conducted to exclude questions with scores below 50%and 18 questions were obtained;a third round of questionnaires was conducted to test the importance of these 18 questions and finally 16 risk factors were obtained and these 16 factors were classified into four categories:pre-insurance,in-insurance,post-insurance and comprehensive perspective.The 16 identified risk factors were then weighted using Analytic hierarchy process.Then proceed to differentiate the risk factors with different weights.Then combine the current domestic and foreign advanced experience in risk management in the financial guarantee industry with the current actual situation to give targeted countermeasures in order to maximize the level of risk management in the inclusive finance business of AY financial guarantee companies and avoid the related risks.On the basis of improving the risk management level of this unit,we can ensure efficient support for the development of local inclusive finance and promote the financing of local capital.Through the study,the main conclusions reached in this paper include:(1)the top five risk factors of AY financial guarantee companies’ inclusive finance business weighting are:lack of reasonable risk compensation mechanism,insufficient innovation in product structure design,urgent need to establish a linked risk warning mechanism with banks,prevention of moral hazard and adverse selection of borrowers/guarantees,and the need to establish a perfect risk sharing mechanism;(2)The role of local financial guarantee companies in inclusive finance is not fully developed,while their development is uneven across the country;(3)the substitution and compensation mechanism of local financial guarantee institutions needs to be further improved;(4)the enthusiasm of cooperation between banks and financial guarantee companies in the field of inclusive finance needs to be improved.