Research On The Improvement Of Risk Control System Of State-owned Investment Enterprises

In recent years,state-owned investment enterprises have continued to expand,and in the process of development,there have been phenomena such as not paying attention to the safety of state-owned capital and high investment risks.Therefore,actively promoting the restructuring of state-owned enterprises and gradually building a complete national risk control system has become an important cornerstone for the development of state-owned investment enterprises in the new economic situation such as marketization and internationalization,and also a powerful guarantee for state-owned investment enterprises to maintain the security of state-owned capital.As a typical state-owned investment enterprise,ZB Investment also has the nature of a military enterprise,and it is of great significance to study its risk control system.Taking ZB Investment as an example,this paper analyzes the macroeconomic risks,policy risks,strategic risks,investment risks and market risks faced by the company,and then analyzes the risk control system of ZB Investment,and introduces the organizational structure of its risk control system,investment process and results.This paper focuses on analyzing the problems and causes of the ZB investment risk control system,and puts forward suggestions for improving its risk control system,which supplements the research on the risk control system construction of state-owned capital investment companies.This article analyzes the comprehensive risk control system established by ZB Investment in combination with the latest version of "Enterprise Risk Management Framework".The risk control system construction guideline "Enterprise Risk Management Framework" issued by COSO in 2017 states that the five elements of an enterprise risk control system include governance and culture,strategy and goal setting,performance,review and revision,information exchange and reporting.Based on the specific requirements of the guidelines for the enterprise risk control system,this paper believes that the problems existing in the ZB investment risk control system are as follows: 1.The functions of the internal control department are limited;2.The definition of strategic goals is not clear;3.The risk identification and early warning mechanism is backward 4.The operation efficiency of the subsidiary company is low;5.The communication channel of the information system is not smooth.There are five main reasons for the problems of ZB’s investment risk control system: 1.The non-independence of internal supervision;2.The contradiction between rigid systems and market-oriented business;3.The balance of rights and responsibilities of subsidiaries;4.Information system 5.The decisiveness of the nature of the enterprise.The most important reason is the nature of the enterprise,including the nature of state-owned enterprises and the nature of the subordinate enterprises of the military industry group.As a state-owned capital investment company,the company shoulders the heavy responsibility of maintaining and increasing the value of state-owned capital,which determines the company’s lower risk appetite.The purpose of the company’s investment business is to cultivate cutting-edge military technology companies,and this type of investment business is very risky.Therefore,there is a contradiction between the requirements for the security and appreciation of capital and the purpose of the company’s business development,resulting in the unclear strategic goals of the company.At the same time,the rigidity of the company’s system resulted in the inability of business personnel to perform their duties,and the relevant risk control system could not function effectively,resulting in a series of problems.This paper believes that ZB Investment should improve its risk control system from the following aspects: 1.Improve the awareness of risk control construction,attach importance to the construction of risk control culture,and improve the independence of the internal control department;Information system,distinguish the confidentiality level of information system;3.Improve the division of responsibilities at all levels,appropriately relax the management and control of subsidiaries,and promote "online" and "offline" synergy;4.Promote the construction of market-oriented mechanisms and improve risk identification and early warning mechanisms,to form a long-term performance management mechanism.