如何将风险管理转化危机【外文翻译】.doc
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1、外文翻译原文CRISISCHANGESVIEWOFRISKMANAGEMENTRISKMANAGEMENTORTHELACKTHEREOFLIESATTHEHEARTOFTODAYSBANKINGCRISISTHEINABILITYTOFULLYAPPRECIATERISKEXPOSUREORTOSUFFICIENTLYCONSIDERTHEFULLARRAYOFRISKIMPLICATIONSASSOCIATEDWITHPARTICULARBUSINESSSTRATEGIESANDTACTICSHASPLACEDMANYBANKINGINSTITUTIONSANDTHEECONOMYATLA
2、RGEINPERILASTHEFINANCIALCRISISRESHAPESTHEUSBANKINGINDUSTRY,BANKEXECUTIVESANDBOARDSAREEXPLORINGNEWWAYSTOBETTERMANAGERISKMANYNOWEMBRACETHENOTIONTHATTHECAPACITYTOIDENTIFY,MEASURE,MONITORANDCONTROLRISKHOLISTICALLYANDTOHAVETHATVIEWINFORMDECISIONMAKINGTHROUGHOUTTHEORGANIZATIONISPERHAPSTHEMOSTIMPORTANTGOVE
3、RNANCEOBJECTIVEABANKCANHAVEERNSTRISKMANAGERSANDTHECLEVELEXECUTIVESMUSTBEINLOCKSTEPWITHONEANOTHER,ANDTHEYMUSTSETTHETONEFORARISKCULTURETOBEINGRAINEDTHROUGHOUTTHEORGANIZATIONMANYBANKSLACKRISKMANAGEMENTTHATCROSSESTHEENTIREORGANIZATIONBUILDINGAWIDEVIEWOFRISKTHATSPANSTHEORGANIZATIONANDTHEVARIOUSRISKDIMENS
4、IONSREQUIRESBANKSTOFIRSTRECOGNIZETHATRISKMANAGEMENTNEEDSTOBEAPROCESSTHATEVOLVESASMARKETSCHANGEANDNEWPRODUCTSAREINTRODUCEDMANYBANKSHAVEINITIATIVESUNDERWAYTOACHIEVEAMOREHOLISTICAPPROACH,WITHANEYETOWARDIDENTIFYINGHIGHIMPACTRISKISSUESANDINCORPORATINGTHEMINTOTHEDECISIONMAKINGPROCESSCULTURECHANGESREQUIRED
5、ASARESULTOFTHECRISIS,BANKSARESEEKINGTOCREATERISKAWARECULTURESFIRMSNOWRECOGNIZETHATRISKHASBECOMEEVERYBODYSBUSINESSFROMTHECHIEFRISKOFFICERCROTOSENIORMANAGEMENTTOTHEPEOPLERUNNINGTHEBACKOFFICETHEPREVAILINGVIEWAMONGSENIORBANKINGLEADERSHIPISTHATNOONECANORSHOULDESCAPETHENEEDTOCOMMUNICATEEFFECTIVELYABOUTTHE
6、LEVELSOFRISKWITHINTHEIRINSTITUTIONSATANYGIVENTIMETHEYAREFINDINGTHATTHISREQUIRESAWHOLESALECHANGEINATTITUDESTOWARDRISK,ADDRESSINGDIFFICULTAREASSUCHASINCENTIVES,TRAININGANDCOMMUNICATIONSRISKANDTHEABILITYTOMANAGEITMUSTBETIEDTOSTRICTLEVELSOFACCOUNTABILITYFORPEOPLEINDECISIONMAKINGPOSITIONSBANKSNEEDTORECOG
7、NIZETHATRISKISNOLONGERSIMPLYACROISSUERISKMANAGEMENTMUSTBEMANAGEDANDOWNEDWITHINTHEBUSINESSUNITSANDOVERSEENBYTHEGOVERNANCEBODIESATTHEMOSTSENIORLEVELSOFTHEORGANIZATIONFIRMSSHOULDDEVELOPSTRATEGICRISKGROUPSTHATINCLUDESENIORMANAGEMENT,THECOMPANYSBOARD,COMPLIANCESTAFF,BACKOFFICEPERSONNELANDTECHNOLOGYSTAFF,
8、AMONGOTHERSTHESEINDIVIDUALSMUSTBEGIVENTHERIGHTINCENTIVES,TECHNOLOGY,PROCESSESANDORGANIZATIONALCLOUTTOMAKEHARDDECISIONSTHATAFFECTTHECOMPANYSRISKEXPOSUREDEFININGRISKGOVERNANCEANDRISKMANAGEMENTTOHAVEEFFECTIVERISKMANAGEMENT,ANORGANIZATIONNEEDSGREATGOVERNANCERISKGOVERNANCEINVOLVESTHEBOARDSETTINGRISKSTRAT
9、EGYANDAPPETITE,SENIORMANAGERSANDUNITCHIEFSEXECUTINGTHOSESTRATEGIESANDRISKCONTROLLERSCONTINUOUSLYMEASURINGTHEFIRMSRISKEXPOSURESTRONGGOVERNANCESTRATEGIESANDPROCESSESWILLSETTHEFRAMEWORKANDDIRECTIONFORALLCONCERNEDTOEFFECTIVELYMANAGERISKACROSSTHEORGANIZATIONANOVERWHELMINGMAJORITY85PERCENTOFRESPONDENTSSAI
10、DRISKGOVERNANCEPROJECTSAREUNDERWAYINTHEIRBUSINESSESBANKSAREINSTITUTINGAVIEWOFRISKMANAGEMENTTHATBEGINSWITHSENIORMANAGEMENTBEINGACTIVELYINVOLVEDINREVIEWINGRISKAPPETITEANDCAPACITYBUTRISKGOVERNANCEDOESNOTSTOPTHEREEFFECTIVEENTERPRISERISKMANAGEMENTREQUIRESARISKGOVERNANCEMODELTHATFOSTERSTOPDOWNOVERSIGHTAND
11、DIRECTINVOLVEMENTFROMTHERISKTAKERSONTHEFRONTLINESITISFUNDAMENTALLYRELATEDTOTHECAPACITYANDWILLINGNESSOFTHEGOVERNANCEBODIESDIRECTORSANDSENIORMANAGERSTOCHALLENGEBUSINESSESTHATARETHRIVINGANDGAINABETTERUNDERSTANDINGOFUNDERLYINGRISKLEADERSHIPMUSTREWARDCHARACTERISTICSTHATWILLHELPTHEORGANIZATIONMEETITSESTAB
12、LISHEDGOALSWHILECOMPLYINGWITHTHEFIRMSRISKAPPETITEFINANCIALINSTITUTIONSHAVEHADATENDENCYTOLOOKTHEOTHERWAYFROMARISKPERSPECTIVEWHENBUSINESSISGROWINGANDPROFITABLETHATMINDSETMUSTCHANGEASTHEECONOMYRECOVERSANDBANKSBEGINTOMAKEMONEYAGAINTIGHTERCONNECTIONBETWEENRISKANDFINANCEINOURSURVEY,BANKEXECUTIVESAGREEDTHA
13、TRISKANDFINANCEMUSTWORKTOGETHERTOSHAREINFORMATIONANDJOINTLYSUPPORTSTRATEGICDECISIONMAKINGRISKANDFINANCEFUNCTIONSCANWORKMORECOLLABORATIVELYONTASKSINCLUDINGTHEFOLLOWINGFORECASTINGLIQUIDITYINVOLVINGBOTHRISKANDFINANCEINEVALUATINGPOTENTIALACQUISITIONSREPORTINGTHEIMPACTONPROFITANDLOSSASPARTOFTHEDEFINITION
14、ANDANALYSISOFRISKCREATINGJOINTPROCESSESANDTEAMSTOSUPPORTTHEPUBLICATIONOFFINANCIALACCOUNTSWEAREALREADYSEEINGTHATTHECRISISHASSERVEDTODISMANTLESILOSWITHINBANKSANDPROMOTEMOREDIALOGUEBETWEENRISKANDFINANCEFUNCTIONSRISKFORECASTINGTHESURVEYEDBANKERSCITEDRISKFORECASTINGASANECESSARYCOMPONENTTOASUCCESSFULRISKM
15、ANAGEMENTSYSTEMWEARESEEINGTHEDEVELOPMENTOFMORERISKBASEDFINANCIALFORECASTING,SPECIFICALLY,THETESTINGOFDIFFERENTSCENARIOSANDHOWTHEYMIGHTAFFECTREVENUESANDCAPITALINAVOLATILEENVIRONMENTORTHEIMPACTOFLOSSESONTHEFIRM,ASOPPOSEDTOMORENARROWLYONAPORTFOLIOBASISITISSAFETOSAYTHATREGULATORSWILLPAYSPECIALATTENTIONT
16、OTHEMODELSBANKSUSEANDTHEUNDERLYINGASSUMPTIONSASARESULTOFTHECRISIS,BANKSWILLBEGINTOTAKEANINTROSPECTIVEVIEWOFFORECASTING,USINGMODELSTOPROVIDEANUNDERSTANDINGOFTHEPOTENTIALIMPACTONSPECIFICBUSINESSESORPORTFOLIOSOFDIFFERENTSCENARIOSEVENIFTHEPROBABILITYOFTHESEEVENTSOCCURRINGISLOWTOZEROTHESTRESSSCENARIOSTHA
17、TAREUSEDTOINFORMTHEOUTLOOKANDMEASUREPOTENTIALIMPACTTOAFIRMSBALANCESHEET,LIQUIDITYANDCAPITALMANAGEMENTSHOULDCONSIDERTHESPECIFICNATUREOFANORGANIZATIONSRISKSANDTHEKEYASSUMPTIONSONWHICHTHEBASELINEOUTLOOKISBUILTITISNOTENOUGHSIMPLYTOAPPLYSHOCKSBASEDONMARKETEVENTSTHATHAVEOCCURREDINTHEPASTREVERSESTRESSTESTI
18、NGISONEWAYTOIDENTIFYVULNERABILITIESSPECIFICTOAGIVENORGANIZATIONSUNIQUERISKPROFILEWHATSCENARIO,HOWEVERIMPROBABLE,WOULDTHREATENTHEFIRMSSURVIVALWHAT,IFANY,MITIGATINGACTIONSAPPEARWARRANTEDTOPROVIDESOMEPROTECTIONAGAINSTTHESELOWPROBABILITYBUTPOTENTIALLYFATALEVENTSRISKREPORTINGSHOULDTELLASTORYSURVEYRESPOND
19、ENTSNOTEDTHATBETTERANDFASTERREPORTINGWASACRITICALSUCCESSFACTORINIMPLEMENTINGENTERPRISEWIDERISKMANAGEMENTWHETHERABOUTLIQUIDITY,CAPITALORARISKRETURNDECISION,ACCURATEANDTIMELYREPORTINGSHOULDENABLEAFIRMTOMAKEABETTERDECISIONOFTEN,THEDATAQUALITYISPOORANDREPORTINGISSTATICANDFAILSTOTIEINBUSINESSPERFORMANCEW
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