On The Risk Management Of The Asset Management Business Of SX Securities Company

Under the background of China’s economic development entering a new era,the integration degree of securities industry and national development strategy is further enhanced,and stimulated by the expansion of investment and financing needs of various economic entities,the rise of asset management business has become an inevitable trend of the development of securities and financial markets.China’s asset management business is developing rapidly,with the market scale and volume increasing continuously in the past decade.However,the accompanying problem is that the derivative risks of asset management business are also quietly changing,becoming more diversified and complex,and its management is becoming more difficult.Due to the particularity of asset management business,the outbreak of risk events is often accompanied by extremely bad consequences,both brokers and investors,are unable to bear huge economic losses.Therefore,the problem of risk management is always put in front of the fund management institutions and individuals.SX Securities Co.,Ltd.is a comprehensive securities company based in the province and facing the whole country.With the advent of the great era of asset management,its asset management business has always had location advantages and resource advantages in the enterprise residence and is experiencing a period of rapid development with the development of the securities market.In 2021,SX Securities Asset Management Company was formally established,and by 2022,the income from asset management business of SX Company has accounted for more than 30%of the total revenue of the company.Although the asset management business develops rapidly,from the aspect of internal control,the risk control level of the internal control institutions and personnel of the asset management business lags behind.From the aspect of external risk control,the lack of certain quantitative standards of risk control,thus expanding the risk of asset management business.And this kind of problem has also become a common problem existing in the country’s comprehensive brokerage.In this study,SX securities was selected as the research object.In terms of its asset management business,employees,supervisors and finance experts from universities of SX securities asset management business were selected as the main interview targets to conduct in-depth interviews on the risks that SX securities asset management business may face,and finally 75,000 words of effective interview data were formed.A total of 35 questionnaires were obtained.Based theory and analytic hierarchy process were used to analyze the interview data and questionnaires.Finally,fuzzy comprehensive evaluation method was adopted to obtain the following research conclusions: First,the main risk sources of SX asset management business are: There are two aspects of internal risk and external risk.The internal risk mainly consists of product risk,management risk and operational risk,while the external risk mainly consists of environmental risk,market risk and goodwill risk.Secondly,based on the further analysis of the above risk evaluation results,it can be seen that the serious risks faced by the asset management business of SX securities are management risks and operational risks,which are generally caused by internal reasons.Therefore,the internal risks faced by SX securities are more severe than the external risks,so it is clear that the risk response work of SX securities should focus on internal optimization.Third,among the six main risks that SX securities asset management business is currently facing,management risk and operational risk are the most prominent,followed by market risk,goodwill risk and product risk.The asset management business needs to carry out quantitative assessment on the sub-latitude risks of SX asset management business from the aspects of system construction,identification of each sub-latitude latitude,and identification of important risks,which will provide reference and guidance for other securities companies in the future.