What does a risk manager do in a bank? Profession of risk manager. Consideration of an application for a loan
Probably everyone knows the phrase “He who doesn’t take risks, doesn’t drink champagne.” In business there is no risk - if a company does not take risks, it means it is not doing anything at all. But the risk can result in losses for the company. To assess the degree of risk, you need risk manager.
Risk manager is a young profession, but already quite promising. The risk manager looks for all kinds of risks in the activities of companies, and also assesses the degree of their danger to the company and the expected amount of damage. Based on this information, the risk manager develops recommendations that should help the company reduce the negative consequences of risk.
The scope of risk management (risk management) includes about one hundred types of risks. The most common of them include investment, credit, market, operational, insurance, legal, transport, exchange, competitive, personnel uncertainties and risk of loss business reputation. Is it worth purchasing certain shares or securities? Which candidate should I choose for a key position in the company? The risk manager will answer these questions.
The services of risk managers are in demand in various areas of business, but The insurance and investment banking industries need risk managers the most. Given the instability of our economy, companies constantly have to deal with uncertainty in their activities, and uncertainty is risk. IN small companies risk assessment is usually carried out by management, but large companies Often a professional look is needed, and this is where a risk manager comes to the rescue.
Since a risk manager is a young profession, it can only be obtained at a couple of leading financial and economic universities. Therefore, people with other education, usually economic and technical, often become risk managers. Why is that? Because this profession usually has high demands. A risk manager must understand not only risk management as such, but also economics (micro and macro), banking, and markets valuable papers, accounting.
In addition, knowledge in the field of law will not hurt, international standards financial statements, higher mathematics and mathematical modeling. Plus the English language (oral and written) is at a high level - you can’t live without it now. Also, the risk manager must be an experienced PC user, have analytical skills and be ready to work in a fairly intensive mode.
Besides, a risk manager must be able to defend his opinion. There is no guarantee that the company's management will follow his advice: all decisions must be agreed upon with senior management. Therefore, the risk manager often has to not only assess the risk and develop recommendations, but also defend his point of view and make sure that his recommendations will actually be followed.
Often, future risk managers begin their activities in a related specialty, and then, having gained knowledge and experience, switch to risk management. For example, insurance risk managers often begin their careers at an insurance company. After 2-3 years of practice in assessing various client risks, you can try your hand at risk management. And many risk managers in investment and commercial banks started their careers as credit analysts.
The main problem of this profession is its youth. In many business sectors there is no clear understanding of what risk management actually is. Therefore, assessing the professionalism of a candidate for the position of risk manager is very difficult: everything will be visible only during the work process. And hiring a risk manager is a risk in itself: there is no guarantee that this person can be relied upon. Therefore, usually one of the requirements for a risk manager is experience in related areas that we have already mentioned: risk assessment for corporate clients (2 years or more) or work as a credit analyst for corporate clients (3 years or more).
Risk manager is a fairly promising profession, despite its youth. But becoming a risk manager is not easy, because this profession requires not only extensive knowledge, but also significant responsibility.
Risk managers examine business processes, assess the company's strengths and weaknesses, analyze threats of losses and identify sources of danger, and participate in the development of a risk management strategy. The competencies of these specialists include monitoring risk indicators, economic assessment of risks, development and implementation of measures to prevent or minimize them.
Salary offers for risk managers in Moscow average 65,000 rubles. per month. In St. Petersburg, similar specialists can count on an income of about 50,000 rubles. In Yekaterinburg, risk managers earn an average of 40,000 rubles. monthly, in Nizhny Novgorod – 30,000 rubles. Data for other cities participating in the study are presented below (see tables).
Graduates of financial, economic or mathematical faculties of universities with experience as an analyst or financial manager at least 1 year. Employers require applicants to know the basics accounting And financial analysis, statistical methods of analysis and forecasting, methods for identifying, assessing and reducing risks. Skills in working with large amounts of data are in demand. Applicants also need to be confident in computer skills (MS Office, SPSS, possibly SAS). Beginning risk managers in the capital earn from 35,000 to 40,000 rubles, in the city on the Neva - from 25,000 to 30,000 rubles, in Yekaterinburg - from 20,000 to 25,000 rubles, in Nizhny Novgorod - from 15,000 to 20,000 rubles.
Risk managers with more than 1 year of experience can count on higher income. The main requirements of the vacancies relate to the candidates' skills in analyzing the financial and economic activities of the organization. Competitive advantage knowledge will help when applying for a job in English at a conversational or free level. Salary offers for such specialists in Moscow reach 55,000 rubles, in the northern capital – 45,000 rubles, in Yekaterinburg – 35,000 rubles, in Nizhny Novgorod – 25,000 rubles.
Risk managers with at least 2 years of experience, business process analysis skills and experience economic assessment risks, in Moscow they can claim an income of up to 85,000 rubles, in St. Petersburg - up to 65,000 rubles, in Yekaterinburg - up to 50,000 rubles, in Nizhny Novgorod - up to 42,000 rubles.
Employers offer the maximum earnings to certified specialists with at least 3 years of experience in risk management. Applicants' experience in the field of strategic forecasting, model building and effective system risk management. Applicants must also have the skills to successfully implement measures that minimize or eliminate the impact of risks. Knowledge of IFRS will be an additional advantage for experienced risk managers. The highest salary offers recorded at the moment in the capital are 200,000 rubles. in St. Petersburg - 155,000 rubles, in Yekaterinburg - 125,000 rubles, in Nizhny Novgorod - 90,000 rubles.
According to a labor market study, the majority of applicants for risk manager positions are young men with higher education. Representatives of the strong half of humanity in this field of activity are 61%. The majority of applicants (53%) are under 30 years of age. Higher education 93% of risk managers have. 30% of specialists are fluent in English.
Regions of study: gg. Moscow, St. Petersburg, Volgograd, Yekaterinburg, Kazan, Nizhny Novgorod, Novosibirsk, Rostov-on-Don, Omsk, Samara, Ufa, Chelyabinsk
Study time: January 2012
Unit of measurement: Russian ruble
Object of study: employer proposals and expectations of applicants for the position of “Risk Manager”
Typical functionality:
Participation in the development of a risk management strategy;
- analysis and assessment of strengths and weaknesses organizations, business process analysis;
- identifying threats of losses and identifying sources of risks;
- economic risk assessment;
- development and implementation of measures to prevent / minimize risks;
- control of risk indicators;
- improvement of business processes to eliminate possible risks;
- reporting.
Position requirements: type of employment - full time.
The level of remuneration for a specialist is determined by the welfare of the company, the list job responsibilities, work experience in the specialty, level of development of professional skills.
Study of a data array about wages in the studied regions allows us to identify 4 main salary ranges depending on the experience and professional skills of specialists.
Analysis of information on specialist remuneration levels:
(excluding bonuses, additional benefits and compensation)
| Region | Average | Band I No work experience |
Range II With minimal work experience |
Range III With work experience |
Range IV With significant work experience |
| Moscow | 65 000 | 35 000 - 40 000 | 40 000 - 55 000 | 55 000 - 85 000 | 85 000 - 200 000 |
| Saint Petersburg | 50 000 | 25 000 - 30 000 | 30 000 - 45 000 | 45 000 - 65 000 | 65 000 - 155 000 |
| Volgograd | 30 000 | 15 000 - 18 000 | 18 000 - 25 000 | 25 000 - 37 000 | 37 000 - 90 000 |
| Ekaterinburg | 40 000 | 20 000 - 25 000 | 25 000 - 35 000 | 35 000 - 50 000 | 50 000 - 125 000 |
| Kazan | 30 000 | 15 000 - 18 000 | 18 000 - 25 000 | 25 000 - 40 000 | 40 000 - 90 000 |
| Nizhny Novgorod | 30 000 | 15 000 - 20 000 | 20 000 - 25 000 | 25 000 - 42 000 | 42 000 - 90 000 |
| Novosibirsk | 35 000 | 20 000 - 22 000 | 22 000 - 30 000 | 30 000 - 50 000 | 50 000 - 110 000 |
| Omsk | 30 000 | 17 000 - 20 000 | 20 000 - 27 000 | 27 000 - 40 000 | 40 000 - 95 000 |
| Rostov-on-Don | 33 000 | 18 000 - 20 000 | 20 000 - 25 000 | 25 000 - 45 000 | 45 000 - 100 000 |
| Samara | 35 000 | 18 000 - 22 000 | 22 000 - 28 000 | 28 000 - 45 000 | 45 000 - 100 000 |
| Ufa | 30 000 | 15 000 - 18 000 | 18 000 - 25 000 | 25 000 - 38 000 | 38 000 - 90 000 |
| Chelyabinsk | 35 000 | 20 000 - 23 000 | 23 000 - 30 000 | 30 000 - 48 000 | 48 000 - 110 000 |
Explanations for the table »
Each salary range is characterized by a certain typical set of requirements and wishes for the candidate. Each subsequent salary range includes the requirements formulated for the previous ones.
| Salary range | Requirements and wishes for professional skills |
| I No experience in this position |
- Higher education (financial / economic / mathematical) - Confident PC user (MS Office, SPSS, possibly SAS) - Analytic mind - Skills in working with large data sets - Knowledge of statistical methods of analysis and forecasting - Knowledge of basic accounting and financial analysis - Knowledge of methods for identifying, assessing and reducing risks - Knowledge of English at a basic level - Experience as a financial manager/analyst from 1 year |
| II With minimal experience in this position |
- Skills in analyzing the financial and economic activities of an organization - Experience as a risk manager for at least 1 year Possible wish: knowledge of English at a conversational or fluent level |
| III With experience in this position |
- Business process analysis skills - Experience in economic risk assessment - Experience as a risk manager for at least 2 years |
| IV With significant experience in this position |
- Availability of professional certificates and certificates - Experience in building models, strategic forecasting - Experience in building an effective risk management system - Experience in implementing measures that minimize/eliminate the impact of risks - Experience as a risk manager for at least 3 years Possible wish: knowledge of IFRS |
Portrait of the applicant
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Risk Manager
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Reference
Risk represents the possible danger of any unfavorable outcome and contains the probabilities and consequences of the occurrence of an unfavorable event. Risk assessment is the process of identifying factors and types of risk and their quantitative assessment. It is an estimate of the likelihood that the return on an investment will differ from what was expected. The risk assessment includes not only unfavorable (returns below expected) but also favorable outcomes (returns above expected). The following types of risk are distinguished: credit, operational, investment, market, legal, insurance, exchange, transport, competitive, risk of loss of business reputation and personnel uncertainties.
Useful articles
Description of activity
The activity of a risk assessment manager is work using knowledge in the field of risk management, banking, securities market, accounting, fundamentals of law, international standards, statistics, higher mathematics and mathematical modeling. The specialist's activities involve programming and English language skills.
Wage
Moscow average:average for St. Petersburg:
Job responsibilities
The risk assessment manager performs risk analysis for the bank and analysis of bond issuers. Exercises control over the maintenance of limits. Coordinates the activities of the bank's structural divisions for risk management. Ensures compliance with business unit risk management policies, procedures, and risk management standards. Develops decision-making methodology. Calculates the default level, determines its dynamics and analyzes the reasons for changes in the loan portfolio as a whole and in the context of loan products. Performs risk assessments for new credit products and product groups. Performs analysis of securities and investments in the stock market, anti-crisis management.
Excerpt from the book “Credit Risk Analysis”.
Growing competition and lower rates (in a stable market economy) force banks to look for reserves to retain profitability. Managing the likelihood of losses while maintaining profitability at an acceptable level becomes an extremely important task.
Risk management plays an important role in this. Organizing risk management technology in a commercial bank is a fairly extensive and lengthy process. The functions and tasks of risk management are expanding, and the demand for qualified specialists is growing from year to year.
The effectiveness of the risk management system as a whole depends on the correct setting of the risk manager’s tasks.
Taking risks is the basis of banking, i.e. management of banking operations is essentially risk management, and, first of all, risks associated with the banking portfolio (with a set of assets) that provide the bank with income. Banks are successful only when the risks they take are reasonable, controllable and within their financial capabilities and competence. The main task of banking management is to find the optimal balance between profit, liquidity and risk. Risk management plays an important role in this process.
Risk management tasks
Risk management organization, which includes:
- formation of risk management bodies, determination of their competence;
- approval of the bank’s organizational structure, distribution of functions and powers for risk management;
- development and approval of a risk management policy;
- development of risk management strategy and tactics;
- development of internal regulatory documents that include clear risk management methods;
- control of the correctness, adequacy and completeness of the application of approved control and risk management procedures.
Development of risk management techniques and methods, which includes:
- development of risk analysis methodology;
- development of techniques and methods for risk control;
- development of techniques and methods for risk reduction.
Development of proposals for optimizing the bank’s credit work in order to increase profitability with minimal risks, incl. in an uncertain economic situation.
Main functions of a risk manager
Analysis of credit risk at the time of loan provision
The risk manager analyzes risks at the time of granting a loan by identifying negative risk factors and assessing them. Risk analysis is carried out after providing the conclusion of the credit department, the economic security service and, as a rule, the legal service.
The sources of risk analysis are the borrower’s documents provided for consideration of the loan application (primary documents); official website of the organization; Arbitration Court website; credit history bureau (however, the BKI system is not yet sufficiently developed in Russia); tax office website; analytical and statistical agencies; other external sources of information.
The risk manager's conclusion must contain a descriptive part that takes into account negative risk factors and conclusions about the level of risk and ways to minimize it (if the risk is accepted).
Analysis of credit risk during the validity period of the loan agreement
In the event of loan restructuring (extension, changes in the repayment schedule and other essential terms of the loan documentation), the risk manager assesses the risks and prepares a conclusion on the same principle as when analyzing risks at the time of consideration of the application.
Credit risk control
Considering that during the lending period risks can change (increase) under the influence of both internal and external factors, the risk manager constantly monitors the risk by:
- quarterly monitoring of the financial position and actual activities of the borrower in order to timely identify problem assets (in the presence of negative risk factors);
- constant control over the borrower’s compliance with the basic terms of the loan agreement (maintaining minimum turnover on bank current accounts, compliance with the debt load, etc.);
- constant control over the timely monitoring of collateral by the bank’s collateral service and (or) credit department.
If negative risk factors are identified, in other words, if non-standard assets (assets with signs of bad debt) are identified, the risk manager makes a decision on early repayment of the loan or suggests ways to minimize the risk. In order to control risk, it is advisable to keep reports.
Minimizing (leveling) risks
If negative risk factors are identified in the process of performing the above functions, the risk manager assesses the likelihood of events leading to losses and prepares proposals to minimize the identified risks. For example, if the financial situation worsens, you can propose to additionally check the reliability of the borrower’s main counterparties, request explanatory information from the organization on unsatisfactory financial indicators, refer to the analysis of management reporting, etc. If there is a high probability of further deterioration in the borrower’s financial situation, the risk manager may propose strengthening the bank’s collateral position by issuing additional collateral or other measures. Negative factors and ways to minimize credit risk will be discussed in more detail in Chapters 2 and 4, respectively.
Development of measures for dealing with problematic and overdue debts
If problem debt (non-standard assets) or overdue debt is identified, the risk manager develops an action plan.
Monitoring the correct application by the structural unit of the developed lending system, compliance with regulatory documents (including reservations) and the formation of proposals for optimizing the bank’s work.
Example:
Monitoring the correct application by the structural unit of the developed lending system, compliance with regulatory documents and the formation of proposals for optimizing the bank’s work:
I. In accordance with the functional responsibilities of the risk assessment specialist, control was carried out over the correct application by the credit division of the developed lending system and compliance with the bank’s regulatory documents.
It is necessary to pay attention to the following violations by the credit division of the bank’s internal regulatory documents:
1. If there are current loans from other commercial banks/other obligations to third parties, it is necessary to request from the borrower copies of all pages of credit agreements/loan agreements signed by the manager and chief accountant and carefully analyze the terms of the loan, paying special attention to the conditions for fulfilling the borrower’s obligations to the commercial bank/ third party
(in accordance with clause 1 of Instruction No. 3 (hereinafter in this example internal instructions and regulations adopted by the bank are meant; their numbers can be any));2. It is necessary to conduct an analysis of the borrower's production capabilities (clearly indicate in the conclusions of the lending department the degree of equipment wear and analysis of the implementation of the production program for the last four reporting periods/calendar year, as well as the existence of a production program for the lending period)
(in accordance with paragraph 2 of Instruction No. 3);3. If the borrower makes payments using barter and bills of exchange (including if the borrower’s account is used to transfer funds on a commission basis or the organization uses tolling schemes), it is necessary to determine the share of income from such types of payments in the total income of the borrower (in accordance with paragraph 3 of Instruction No. 3);
4. It is necessary to carry out a motivated forecast of changes in financial condition for the near future, paying special attention to borrowers whose activities there are unfavorable trends in business development (the presence of a current loss, a decline in production volume, etc.)
(in accordance with paragraph 4 of Instruction No. 4);5. When providing loans to replenish working capital with the establishment of a tranche, the borrower should justify the established term of the tranche and compare the terms of repayment of tranches with the volume of cash receipts attributable to the period of repayment of the loan: with the terms of settlements under agreements concluded with suppliers and customers, as well as with the turnover period accounts receivable and payable
(in accordance with Appendix No. 1 to Instruction No. 3);6. It is necessary to indicate the terms of settlements under agreements with main counterparties
(in accordance with Appendix No. 2 to Instruction No. 283);7. It is necessary to pay special attention to the following borrowers: whose property liabilities to affiliates amount to more than 25% of the balance sheet currency; the share of holding companies in the borrower’s receivables and payables is more than 20%; the borrower actively uses non-monetary forms of payment in business transactions (in accordance with paragraph 5 of Instruction No. 3);
8. An action plan for working with non-standard assets should be developed in a timely manner.
(in accordance with section 5 of Order No. 10).II. As a result of assessing the quality of credit work, the chief risk assessment specialist makes the following proposals for optimizing credit work:
1. In further work, the credit department must take into account all the above comments;
2. It is necessary to analyze the reasons for losses indicated by the borrower and form your own motivated judgment (often clients provide a not entirely clear and correct explanation of the reasons for losses);
3. The financial position/business reputation of debtors and creditors (or suppliers and buyers) whose share exceeds 30% of the total volume of receivables/payables (or volume of contracts) should be assessed;
4. In order to identify overdue receivables/payables, it is advisable to quarterly request from the borrower a balance sheet for accounts 60 and 62 and analyze the movement of receivables/payables (at least for main debtors and creditors).
It is worth noting that some risk managers work with the conclusion of the credit department and use only the information contained in it. Others prefer, in addition to concluding a credit division, to work with primary documents: balance sheets, agreements with counterparties, constituent documents, etc. I strongly recommend using primary documents for two reasons. The first reason is trust, but verify. Do not forget that the tasks of a risk manager and a credit inspector are different. While the credit department has the task of fulfilling the lending plan, the risk manager has the task of improving the quality of the loan portfolio.
The second reason is that one head is good, but two are better. Staff turnover in the credit department is quite high, so young specialists may not know the intricacies of credit work; this requires appropriate experience. And of course, if you are a generalist (you have more than one education and you worked in a bank not only in the credit department, but also in other departments), then in some issues you may well be more competent than your colleagues. In any case, working with primary documents provides much more opportunities for a high-quality and more in-depth analysis of credit risks.
Credit process
Basic concepts:
| Credit process | The process of considering applications for the provision of credit services to legal entities and individual entrepreneurs. Techniques and methods for implementing credit relations accepted by the bank. The procedure for providing credit services and monitoring the fulfillment of the terms of the agreement is regulated by the internal regulations of the bank based on its credit policy. |
| Credit service | Providing loans, opening letters of credit, providing guarantees and other credit products. |
| Loan documentation | A set of documents corresponding to the structure of the credit transaction (loan agreement, guarantee agreement, pledge agreement for goods in circulation, equipment or other property/property rights), as well as other documents necessary for the proper execution of the transaction. |
| Lending division | A division of a bank (branch) that considers issues of providing and maintaining credit services, as well as processing credit documentation. |
| Borrower | A legal entity or individual entrepreneur who has submitted an application for a credit service or to whom a credit service has been provided. |
| Credit limit | The risk limit for credit products (maximum loan amount) per borrower or group of related borrowers established by the decision of the credit committee. The amount of one-time debt for all credit products (specified in the decision of the credit committee) cannot exceed the established lending limit for one borrower or a group of related borrowers during the established period. |
| Loan portfolio | The totality in monetary terms of all credit services provided by the bank to legal entities as of the reporting date. Only current debt is taken into account and previously made payments on these loans are not taken into account. |
| Credit Committee (CC) | The body implementing the bank's credit policy, created for the purpose of managing credit activities and forming a high-quality and balanced loan portfolio. Members of the CC are approved by authorized persons of the bank. |
| Legal service (US) | A division of a bank (branch) responsible for the legal support of transactions concluded by the bank and operations carried out. |
| Security Service (SB) | A division of a bank (branch) responsible for ensuring the security of operations carried out by the bank. |
| Credit Risk Control Service (CCRS) | A division of a bank (branch) that assesses and controls credit risks. This division may also be called the Risk Control Department (RCD), Risk Management Service (RMS), etc. |
| Collateral Service (PS) | A structural unit of the bank (responsible person of the branch) that carries out the entire range of operations related to collateral: determining the market, fair, collateral value of the collateral; registration and conclusion of security agreements; control of security of collateral; monitoring compliance with the terms of the security agreement. |
Consideration of an application for a loan
Conducting preliminary negotiations and reviewing the application
Based on the results of preliminary negotiations with the borrower, the following decisions are made:
- termination of consideration of the application;
- bringing the list of documents required for granting a loan to the borrower;
- analysis of the financial and economic activities of the borrower;
- preparation of opinions for the lending department, SB and SKKR on the CC.
As a rule, at this stage, the loan officer checks the borrower’s compliance with the bank’s basic requirements, failure to comply with which leads to a refusal to provide credit funds. As an example, the following requirements can be given:
- positive credit history;
- absence of overdue loans, receivables and payables;
- lack of file cabinet No. 2 for the current account;
- stable financial position, positive business reputation;
- the products manufactured or services performed by the borrower must have a confirmed demand in the market, ensuring stable sales and receipt of proceeds from sales in monetary terms;
- the period of operation of the business is at least 1 year;
- actual location of the borrower - in the region where the bank and bank branches are located;
- openness of business owners towards the bank, i.e. willingness to provide all necessary information about the business, affiliates, etc.;
- compliance of the project proposed for financing with the bank’s credit, collateral and interest policies.
The above list is individual for each bank. It is designed in accordance with the credit and risk management policies of the bank.
Making a decision to provide a credit service
- After collecting and analyzing the borrower’s documents for a loan, the lending department prepares a memo to the Security Council and the Loan Authority with its conclusion attached.
- The conclusion on the provision of a credit service with a positive assessment of the borrower by the lending department, SB and AP is submitted for consideration by the DKR. Employees of the specified division familiarize themselves with the conclusion and prepare their own memo/conclusion based on the results of the review. In the event of a negative conclusion of the DCR, the issue of providing a credit service is, as a rule, submitted to the credit committee only after the level of credit risks has been reduced, or to the bank’s head office if the project is being considered by a branch.
- After the conclusions of all services have been received, the lending division studies the conclusions of the CC members. The conclusion on the provision of credit services of all services, including conclusions that have controversial issues, is submitted for decision to the CC.
- Consideration of the issue of providing credit services to CC.
- Refusal to provide a credit service or a positive decision by the CC (within the approved credit limit) with further preparation of credit documentation.
It should be noted here that, depending on the approved procedure for the bank’s lending process, if the Security Council and (or) DKR have a negative conclusion, no voting is held, and the project is automatically considered rejected. In some cases, consideration of the application is possible only at the bank’s head office.
Credit operations in branches are carried out in accordance with internal regulations/regulations based on the unity of approaches, methods and methods for analyzing loan applications, procedures for making and implementing decisions on issuing loans. In order to comply with the standards of the Central Bank of the Russian Federation, limit credit risks and maintain an optimal level of liquidity of branches and the bank as a whole, self-lending limits are established for each branch.
At the same time, the procedure and frequency of setting limits, as well as control over their compliance, are established in accordance with the internal documents of the bank. The decision to provide a credit service by a branch with standard conditions within the established limits is made by the credit committee of the branch independently based on the conclusion of the lender and other divisions of the branch involved in the process of providing the credit service. The decision to provide a credit service by a branch with non-standard conditions or above established limits, as a rule, is made by the credit committee of the bank’s parent organization based on the conclusions of all services of the branch.
Legal examination of loan documentation
- After the positive decision of the CC, the legal authority prepares a conclusion to verify the legal capacity and powers of the management bodies of the Bank's counterparties, based on the internal memo of the lending division.
- If there are irreparable legal risks, the issue of lending is re-raised at a meeting of the Credit Committee.
- In the absence of legal risks, the loan documentation package is signed and the loan is provided.
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