scholarly journals Improving the system of quantitative indicators for risk assessment of financial companies

2021 ◽  
Vol 19 (1) ◽  
pp. 1-9
Author(s):  
Valeriia Shorokh

The paper examines the existing methodological recommendations for assessing risk of financial institutions of non-bank financial services market participants. In particular, the focus is on the activities of financial companies, which are the largest non-banking market participants. The purpose of the study is to develop an approach to risk assessment of financial companies. The methodological basis for achieving the goal is a systematic analysis of the existing provisions of the regulator on the criteria for assessing the risk of financial institutions. The paper examines in detail the state of the modern risk assessment system in accordance with the criteria developed by the regulator, identifies key shortcomings of the recommendations and proposes to supplement the existing list of indicators that were taken into account by the previous regulator. An analysis of the legislation on the availability of quantitative indicators for assessing risk of non-banking financial services market participants was carried out, which made it possible to offer an expanded list of criteria for achieving the research goal. The expediency of the proposed system of quantitative indicators for assessing the risks of activity is confirmed by the existing actions of the regulator, which partially coincide with the proposed provisions. The developed recommendations provide an opportunity to improve the risk assessment system both for inspections by supervisors and for financial institutions seeking to strengthen preventive measures for their management.

2021 ◽  
Vol 10 (1-2) ◽  
pp. 29-46
Author(s):  
Valentina I. Borisova ◽  
Igor V. Borisov ◽  
Farkhad S. Karagussov

Abstract Financial institutions are the centre of economic and legal interests of participants of the financial services market, which is itself characterised by a high level of conflict of interests of its participants. The purpose of the article is the scientific development of the legal structure of organisational and legal forms of financial institutions, in the market of financial services, as a legal mechanism for reconciling the economic and legal interests of the main participants of this market. The features of basic and modified legal forms of legal entities are elaborated in this article. It is determined that financial institutions are established and operate in ‘modified’ legal forms. Such forms emerge due to the supplementation of the structure of the main elements of the basic legal forms of legal entities. This refers to additional functional legal means that reflect special requirements for the relevant types of legal entities, depending on the economic and legal interests of their founders/participants.


Author(s):  
S.V. Stepanov ◽  
N.I. Rublevskaya ◽  
M.Y. Zub

Air pollution in industrial cities is one of the sources of the formation of non-infectious diseases of the population. Timely identification and application of preventive measures makes it possible to control and reduce the incidence rate of the population of technogenically loaded settlements. Purpose of the study. on the basis of a hygienic assessment of the concentration of benzene in the atmospheric air of Kamianske, substantiate the need for a risk-oriented approach to assessing the impact of the environment on the health of the population. Materials and research methods. Based on the monitoring studies carried out for the period 2016-2020. carried out a hygienic assessment of the quality of atmospheric benzene content in. Kamenskoe. The calculation and assessment of carcinogenic risks and analysis of the current regulatory levels in Ukraine have been carried out. Results. According to the results of the research, the tendency to increase the content of benzene in the atmospheric air of Kamianske was revealed. In 2020, the MPC was exceeded. Carcinogenic risk (CR) in Kamianske is unacceptable and requires the development of measures to reduce or eliminate the risk. The population carcinogenic risk (PCR) for city residents is 906 additional cancer cases. The analysis of the obtained results showed that the analysis of air pollution in comparison with the maximum concentration limit, which for benzene is 1.5 mg / m3 for maximum single concentrations and 0.1 mg / m3 for average daily concentrations, does not allow to identify public health hazards in time. and develop the necessary set of preventive measures, in contrast to the risk assessment system. Conclusions. The tendency to increase the concentrations of benzene in the air in Kamyanske has been established. It is proved that the calculated carcinogenic risk is unacceptable for the population of an industrial city. The necessity of calculation and risk assessment for timely identification, risk assessment and development of preventive measures is substantiated. The use of risk assessment techniques allows to identify potentially dangerous effects for the population affected by the actual concentrations of benzene within the MPC.


2021 ◽  
Vol 1 (4) ◽  
pp. 38-42
Author(s):  
Alireza Miremadi ◽  
Omidreza Ghanadiof

Financial institutions are always engaged in risk assessment. In fact, the birth of finance in Europe was through dealing with risk. Risk is a situation that we have more than a possible future with different probabilities. Assessing different futures with different level of probabilities is not that easy to formulate. Neural network is a topology developed for dealing with cases in which formulating the problem is not easy due to model flexibility which is required by the conditions of risks we are dealing with in E-finance. E-finance is providing financial services over electronic devices and cyber space. With the prominent growth of E-finance, the need for developing new models for assessing risk associated with this kind of business seems inevitable. Continuous growth of E-finance brings on new issues such as E-trust; consequently, the need for developing a model of total risk assessment is the base of our study. The presented model is a prototype, future models should be developed specifically for different kind of risk E-finance provider are dealing with.


2019 ◽  
Vol 1 (1) ◽  
pp. 273-281
Author(s):  
Mirosława Mioducka ◽  
Joanna Małecka

AbstractRisk, which is inherent to any business activity, is an issue that should be considered as early as at its conceptual stage and the very idea of its creation. The awareness of its existence and effective risk management is one of the factors which decide whether an organization will prosper or not. Control over possible risks can be exercised in several ways, one of which is outsourcing of risk to other market participants, such as financial institutions. This option is not a widespread solution in the Polish market, which may be due to low awareness among managers in the field of both risk identification and diversification. In the era of entrepreneurial economy, SMEs, which account for 99.8% of the European population and generate about 50% of GDP, having a significant impact on international trade, should become the primary addressees of training and education initiatives to inform them about risks and possibilities of their mitigation. The purpose of the article is to indicate financial services, mainly factoring, offered by money market institutions as an opportunity to improve current financial liquidity of enterprises, and to demonstrate the importance of education in adequate understanding and promotion of those solutions.


2020 ◽  
Vol 166 ◽  
pp. 13028
Author(s):  
Anatoly Suprun ◽  
Tetiana Petrishina ◽  
Iryna Vasylchuk

The modern world is changing rapidly under the influence of digital technologies. This also applies to the financial sector of the economy. Since the mid-2000s, new fintech companies have entered the market. These companies are using new technologies to improve existing and create new financial services. In the course of their development, the interests of new market entrants often overlap with those of traditional participants, mainly banks. Investigation of the relations between fintech companies and traditional financial institutions gives an opportunity to form an idea of the financial picture of the near future. The research of the relations between fintech companies and traditional financial institutions gives an opportunity to form an idea of the financial picture of the near future. The article considers both aspects of competition and aspects of possible cooperation between financial market participants in a digital economy. The results of the scientific research demonstrate that cooperation will prevail over the competition. Probably existing financial institutions will reformat their architecture and become digital ones at the core.


Author(s):  
T. Savchenko ◽  
L. Mynenko

The article analyzes requirements of the National Bank of Ukraine for transparency of banks, banking groups and non-banking financial market participants. Transparency development process in the Ukrainian banking sector considered in a dynamic and in context of the EU's transparency requirements. Authors came to conclusion that the National Bank of Ukraine have to extended last achievements at banks transparency issues on activities of banking groups and to non-banking financial institutions. This conclusion based on rudiments of effective supervision of banking groups on a consolidated basis, as well as the adoption by the Verkhovna Rada of Ukraine of the Law on "Split". This law extends the National Bank's responsibility in the supervision of non-banking financial institutions (insurance, leasing, financial companies, credit unions, pawnshops and credit bureaus) since July 2020. Therefore, the National Bank should introduce new regulatory requirements to increase the transparency of banking groups and non-bank financial intermediaries. These reforms will establish uniform approaches and standards for disclosure of information on the activities of financial institutions, as well as provide the harmonization of national legislation with EU requirements. Expanding the list of public reporting information and establishing proper reporting intervals will ensure the stable functioning of the financial market and will increase the confidence in the financial system by the users of financial services. These measures will also help management of the financial organization to make informed decisions in defining their development strategy. Besides, they will provide further development of the competitive environment in the financial services industry. Keywords: transparency of banking system, transparency requirements, bank, banking group.


2016 ◽  
Vol 4 (1) ◽  
pp. 125
Author(s):  
Hasan Hasan

<p align="justify"><em>Supervision and market discipline is an act of market participants in response to the performance and risk of the bank. Market discipline has realized its importance in supporting the creation of a sound banking, and has been adopted in the Basel II as one of the pillars of sound banking. One of the prerequisites of effective market discipline is the transparency of bank information to market participants. Transparency and market discipline in Islamic banks are becoming more important as application -sharing system, in which the Islamic bank depositors are theoretically exposed to a higher risk than conventional bank customers who receive definitive results. The importance of transparency and market discipline in Islamic banks has been realized with the formulation of the principles of transparency and disclosure of information in order to improve market discipline on banks by the sharia Islamic Financial Services Board (IFSB) in 2007.</em><em></em></p><p align="justify"><em>This paper examines the theoretical framework of market discipline, the principles of transparency in promoting Islamic banking market discipline prepared by the IFSB, and various disciplines of research results in the banking market and the Indonesian Islamic banking. From the results of this study, formulated a variety of challenges and things that need to be considered to improve transparency and encourage market discipline of Islamic banking in Indonesia. At the end, delivered various subsequent recommendations to improve transparency and market discipline practices of Islamic banking in Indonesia.</em></p>


Agronomie ◽  
2003 ◽  
Vol 23 (1) ◽  
pp. 75-84 ◽  
Author(s):  
Andy Hart ◽  
Colin D. Brown ◽  
Kathy A. Lewis ◽  
John Tzilivakis

Author(s):  
Bogdan Korniyenko ◽  
Lilia Galata

In this article, the research of information system protection by ana­ ly­ zing the risks for identifying threats for information security is considered. Information risk analysis is periodically conducted to identify information security threats and test the information security system. Currently, various information risk analysis techni­ ques exist and are being used, the main difference being the quantitative or qualitative risk assessment scales. On the basis of the existing methods of testing and evaluation of the vulnerabilities for the automated system, their advantages and disadvantages, for the possibility of further comparison of the spent resources and the security of the information system, the conclusion was made regarding the deter­ mi­ nation of the optimal method of testing the information security system in the context of the simulated polygon for the protection of critical information resources. A simula­ tion ground for the protection of critical information resources based on GNS3 application software has been developed and implemented. Among the considered methods of testing and risk analysis of the automated system, the optimal iRisk methodology was identified for testing the information security system on the basis of the simulated. The quantitative method Risk for security estimation is considered. Generalized iRisk risk assessment is calculated taking into account the following parameters: Vulnerabili­ ty  — vulnerability assessment, Threat — threat assessment, Control — assessment of security measures. The methodology includes a common CVSS vul­ nerability assessment system, which allows you to use constantly relevant coefficients for the calculation of vulnerabilities, as well as have a list of all major vulnerabilities that are associated with all modern software products that can be used in the automated system. The known software and hardware vulnerabilities of the ground are considered and the resistance of the built network to specific threats by the iRisk method is calculated.


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