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论文编号：	7349
作者编号：	2120122973
上传时间：	2015/6/7 9:28:52
中文题目：	平安银行投行业务风险管理研究
英文题目：	The Research of Investment Banking Risk Management in PinganBank
指导老师：	黄福广
中文关键字：	投资银行；风险管理；平安银行
英文关键字：	investment banking; risk management; Ping An Bank Co., Ltd.
中文摘要：	早在2001年,我国提出了金融业综合化经营的发展方向,各类商业银行也不同程度地开展了投资银行业务,完成了最初的业务探索与积累。在内外部竞争压力不断加剧的大环境下，特别是近期在在利率市场化的背景下，银行业利差不断收窄，投行业务已成为商业银行加快发展和实现战略转型的新蓝海。在并购金融等业务的带动下，商业银行投行业务发展增速惊人，已成为商业银行应对市场竞争、提升综合实力的必由通道。特别是作为本文研究主体的平安银行，更是将投行业务提升到前所未有的战略高度，作为未来发展的四轮驱动之一。 快速发展的投行业务在受到广泛关注的同时，其相对薄弱的风险管理问题已不容忽视，成为商业银行开展投行业务时必须面对和妥善解决的问题。与国外先进投行及国内其它金融机构相比，商业银行在投行领域的涉足较浅，尽管不少商行已将其定位为重要战略性发展领域，但由于经验不足、内部外条件限制，在业务经营、组织机构、管理制度、风险管理、用人机制等各个层面，仍存在不少待解决问题。而近期全球范围内的金融危机、经济下行，国内经济增长的乏力，更是给投行业务发展中的风险控制带来了严峻的挑战。在业务快速增长的同时，如何更好的控制风险，保证投行业务的健康发展，是摆在所有涉足该领域的商业银行面前一道亟待解决的难题。 本文站在商业银行的立场，以平安银行为例，对其开展投行业务的风险管理问题进行深入和系统的研究，并希望在此基础上提出切实可行的意见与建议，包括整体风险架构的建立，业务开展实践中的途径与工具选择以及强化外部监管配合等方面，并给出具体风险管理流程优化建议，提高商业银行投行业务风险控制能力，保证业务的健康持久发展。研究过程中主要采用了调查法、观察法、文献研究法、个案研究法、经验总结法等多种方法。这些方法在研究过程中互相交错，可能会同时用到其中两种甚至多种。研究中注意理论与实践的结合，除大量阅读既往理论研究文献外，还多次向行业内具有丰富经验的资深人士加以请教探讨，反复思考推敲，沟通讨论，包括就其中一些观点与总行同事、兄弟分行同事做了深入探讨，在客户走访过程中，从客户角度进行了印证，甚至与平安集团内部兄弟单位如平安证券、平安信托同事再次沟通，学习对方的先进经验，同时更深刻体会不同主体间的区别，对文章内容根据银行的特性做了修改完善。 平安银行作为平安集团子公司，可充分共享集团品牌优势及综合金融的规模优势，而其在发展投行业务过程中也形成了自身的特点，特别是事业部与分行并存的组织架构。文中对平安银行投行业务现状进行了分析，提炼出包含可共享集团优势、对传统业务依赖度高、业务范围受限、核心业务发展缓慢以及高素质人才瓶颈等在内的主要特点。在此基础上对投行业务风险因素进行分析与评估，结合平安银行风险管理现状，归纳出目前所面临的主要风险点。这些风险点包括风险文化、人员架构、管理流程、激励措施等各个方面，体现在业务开展过程中的多个阶段，并因具体产品的不同而存在差异。 对这些问题做深入剖析，其根源更多是源于投行业务与商行业务根本上的区别。有发展商行业务的思路去开展投行业务，本身存在着基础性错位。商业银行传统业务经营中一直秉承“审慎经营”的原则，在安全性、流动性与盈利性之间寻求平衡，而更偏于将资金的安全性放在第一位，对待风险采取“规避”态度，在一定程度上甚至牺牲盈利性。而投行业务则更接近金融机构“管理风险，赚取利润”的本质，强调通过创新金融工具和金融方法分散和控制风险，赚取超额收益。二者在风险文化上冲突较为明显，表现为投行市场部门与风险管控部门的分歧及紧张关系的常态化。如何做好风险文化的调和是在商业银行中开展投行业务所首先要解决的，可以从小范围的针对性培育到大范围的推广逐步进行。 有了适当的风险文化，需要匹配人员去加以贯彻。对高素质人才队伍的组建也是业务开展的必然要求，一方面要加紧内部培养节奏，另一方面，对外部引进人才，需要帮助其尽快适应融合入商业银行的整体文化中。 有了基础性的准备，就可以通过风险管理架构、管理方法、管理流程等层面的优化来提升自身风险管理的能力。其中对风险架构优化，在解决了风险文化与人员问题前提下，搭建由横向联系的专业化风管部门与纵向联系的业务机构共同形成的矩阵网络式的全面风险管理体系；对风险管理方法的优化，主要包括长效激励与短期保障结合的考核激励制度、风险适度转移及衍生品的应用；对风险管理流程的优化则主要是针对不同产品设定个性化管理流程，做到兼顾效果与效率。 为更好的体现本研究课题的实用性，在针对问题提出对策建议过程中，以具体产品为例做了个性化管理方法与管理流程的示例。 虽然目前受到主观上、客观上各种条件的制约，对商业银行投行业务开展过程中的风险管理问题研究尚处于不完善阶段，对研究达成成熟阶段尚有很长一段路要走，且其中可能仍会遇到这样那样的问题，且由于风险管理本身是一个动态的系统性工程，投行业务的风险管理亦不例外。就研究主体平安银行来讲，应将风险管理作为长期的任务来持续推进并结合目前业务发展过程中的主要掣肘，重点加以解决。随着宏观层面的成熟、微观个体经验的丰富、研究数据的不断积累，研究必将向着更加成熟、完善的方向发展，研究理论不断成熟丰富，能够更好的贴近实际情况，以尽可能小的偏差度更好的指导实际业务的开展。
英文摘要：	As early as 2001, Chinaproposedintegrated development direction ofbanking industry, and all types of commercial banks carry out varying degrees of investment banking services to complete the initial exploration and accumulation.Under the internaland external competitive pressure growing environment, especially in the context of the interest rate market recently, banking interest margin continue to tighter, investment banking service has become a commercial bank to accelerate the development and implementation of a new strategic transformation Blue Ocean. Under the drive of mergers and acquisitions of financial business, investment banking business development of commercial bank is growing at a breakneck pace, has become the commercial banks to cope with the market competition, and enhance the comprehensive strength of the channel. Especially as the research subject of Ping An Bank, enhance the investment banking business to an unprecedented strategic height, as the future development of the four wheel driven one. The rapid development of the investment banking business has attracted wide attention. At the same time, the relatively weak risk management problems have nots allow to ignore, become the development of investment banking business must face and properly solve the problem.Compared with foreign advanced investment banks and other domestic financial institutions, China'scommercial banks involved in the shallower areas of investment banking field, although many commercial bank have been appointed investment banking serviceasa important strategically area of development, but due to lack of experience, internal and external conditions, in all levels of business, organization, management systems, risk management, employment mechanism and so on, there are still many problems to be solved. Recently, worldwide financial crisis, economic downturn, scant domestic economic growth,still further to a higher degree to the development of investment banking risk control has posed a serious challenge. At the same time of Rapid growth in business, how to control risk better and ensure the healthy development of investment banking, is a pressing problem for all commercial banks involved in the field. This article stands in the position of commercial banks,as example as Ping An Bank, to carry out its investment banking risk management issues in depth and systematic research and want to propose practical advice and suggestions on this basis, including the establishment of the overall risk framework , business development practice approaches, tools selection, strengthen external supervision and other aspects. This article also give a specific risk management process optimization recommendations to improve the ability of risk control for commercial banks to investment banking service, to ensure sustainable and healthy development of investment banking service. In the course of the study mainly uses the survey method, observation method, the literature research method, case study method, experience summary method and other methods. These methods each other in the course of the study, may also use the two or even more. In the research，the theory and practice be combined with each other, in addition to read a large number of previous theoretical research literature, the author also repeatedly to have experienced veteran be to consult on, repeatedly thinking scrutiny, communication and discussion, including the some views and head office colleagues, brothers branch colleagues do in-depth study, in visits to customers in the process, from the perspective of customers was confirmed, even to the Ping An group internal brothers unit such as Ping An Securities, Ping An Trust colleagues again communication, learning the advanced experience of other, at the same time the difference between different subjects be understanded more deeply, revised and improved the article content according to the characteristics of bank. As the subsidiary company of Ping An Group, Ping An Bank can fully share the group brand advantage and financial advantage of economies of scale, and in the development of investment banking in the process formed its own characteristics, especially the organization structure of the coexistence of division and branch. In this paper the status quo of Ping An Bank investment banking are analyzed, extract the main features such as shared group advantage, to the traditional business dependence degree high, business range is limited, the development of the core business is slow and high-quality talent bottleneck . On the basis of the above research, Investment banking risk factors were analyzed and assessed. According to Ping An bank risk management status, the main risk faced is summed up. These risks include risk culture, personnel structure and management process, incentives and other aspects, reflected in the business to carry out various stages of the process, a slight difference between different products. Do in-depth analysis on these problems, the root cause is the fundamentally different between investment banking and commercial business. With the development of commercial business ideas to carry out investment banking, there are fundamental dislocation. In the traditional commercial banking business has been adhering to the "careful management" principle, and seeking a balance between the safety, liquidity and profitability, capital safety is the first, treatment of risk to take evasive attitude, in a certain extent, even at the expense of profitability. And investment banking is closer to financial institutions' risk management, earn profit "the essence, emphasize through innovative financial instruments and financial method of dispersion and risk control, to earn excess returns. Cultural risk of conflict between the two is very obvious, the performance is the normalization of the investment banking sector market and risk control department divisions and tensions. In developing investment banking, how to reconcile risk culture, for the commercial banks is the first problem to be solved, the approach can be from the scope of the cultivation to the promotion of a wide range of gradually. The appropriate risk culture should be carried out by the qualified persons. To set up a high-quality team of talents is the inevitable requirement of business development. On the one hand, the internal rhythm training to stepping up and on the other hand, the introduction of outside talent should adapt to the integration into the corporate culture of the commercial banks. After the foundation was prepared, you can optimize the risk management framework, management method, management process, to improve the ability of risk management. After solving the risk culture and personnel issues, a network matrix comprehensive risk management system to be builded. This system is formed by the transverse connection of specialized wind pipe and the business department of the departments with the vertical contact, to optimize the structure of risk management. The optimization method of risk management, including the application of combination of long-term incentive and short-term security appraisal and incentive system, moderate risk transfer and derivatives. The optimization for the risk management process is mainly for different products set personalized management process, do both effect and efficiency. In order to improve the practicality of this research, combined with specific products, provide personalized management methods and process, and put forward the countermeasures and suggestions to solve the problem. Although currently subject to the restriction of subjective and objective on various conditions, the investment banking business of commercial banks to carry out research on risk management in the process is still in the stage of incomplete, of studies have reached a mature stage, this is still a long way to go, and which may will still encounter such problems, and because the risk management is a dynamic and systemic project and risk management of investment banking business is also no exception. Research on the subject of Ping An Bank, the risk management as a long-term task to continue to promote, and focused on solving the problem at present in the process of the development of the business of the main constraints. With the mature of macro level and micro individual experience rich, the accumulation of research data, research will be developed toward the direction of more and more mature and perfect, theoretical research will continue to mature, closer to the actual situation to as much as possible small deviation degree to better guide the actual business development.
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