Extract from the book "Credit Risk Analysis".

Increasing competition, lowering rates (under conditions of stable market economy) force banks to look for yield retention reserves. Managing the probability of loss while keeping returns at an acceptable level becomes an extremely important task.
Risk management plays an important role in this. The organization of risk management technology in a commercial bank is a rather capacious and lengthy process. The functions and tasks of risk management are expanding, and the demand for qualified specialists is growing year by year.
The effectiveness of the risk management system as a whole depends on the correct setting of the tasks of the risk manager.

Risk taking 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 bank management is to find the optimal balance between profit, liquidity and risk. Risk management plays an important role in this process.

Tasks of risk management

A risk management organization that includes:

• formation of risk management bodies, determination of their competence;
• statement organizational structure bank, distribution of functions and powers for risk management;
• development and approval of risk management policy;
• development of strategy and tactics of risk management;
• development of internal normative documents including clear methods of risk management;
• control over the correctness, adequacy and completeness of the application of the 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 of risk control;
• development of techniques and methods to reduce risk.

Development of proposals for optimizing the credit work of the bank in order to increase profitability with minimal risks, incl. in an uncertain business environment.

Main functions of a risk manager

Analysis of credit risk at the time of granting a loan

The risk manager analyzes the risks at the time of granting a loan by identifying negative risk factors and assessing it. Risk analysis is carried out after the conclusion of the credit department, the economic security service and, as a rule, the legal service.

The sources of risk analysis are the documents of the borrower provided for consideration of the loan application (primary documents); official website of the organization; website of the Arbitration Court; credit history bureaus (however, the CBI system is still underdeveloped in Russia); website of the tax office; analytical and statistical agencies; other external sources of information.

The conclusion of the risk manager should 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 term of the loan agreement

In the event of a loan restructuring (prolongation, change in the repayment schedule and other significant conditions of loan documentation), the risk manager assesses the risks and prepares an opinion on the same principle as in the analysis of risks at the time of consideration of the application.

Credit risk control

Given that during the lending period, risks may change (increase) under the influence of both internal and external factors, the risk manager conducts constant risk control 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 observance by the borrower of the main terms of the loan agreement (maintaining the minimum turnover on bank settlement accounts, compliance with the debt burden, etc.);
• constant control over the timely monitoring of the provision of the collateral service of the bank and (or) the credit unit.

If negative risk factors are identified, in other words, if non-standard assets (assets with signs of bad debts) are identified, the risk manager makes a decision on early withdrawal of a loan or suggests ways to minimize the risk. In order to control risk, it is advisable to keep records.

Minimization (leveling) of risks

If negative risk factors are identified in the process of performing the above functions, the risk manager assesses the likelihood of occurrence of events leading to losses and prepares proposals to minimize the identified risks. So, for example, if the financial situation worsens, you can offer 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. In the event of a high probability of further deterioration of the financial position of the borrower, the risk manager may propose to strengthen the bank's collateral position by issuing additional collateral or other measures. More details on the negative factors and ways to minimize credit risk will be discussed in Chapters 2 and 4, respectively.

Development of measures for dealing with problem and overdue debts

In case of identifying problem debts (non-standard assets) or the occurrence of overdue debts, the risk manager develops an action plan.

Control over the correct application of the developed lending system by the structural unit, compliance with regulatory documents (including on reservation) and the formation of proposals for optimizing the bank's work.

Example:

Control over the correct application by the structural unit of the developed lending system, compliance with regulatory documents and the formation of proposals for optimizing the work of the bank:

I. According to functional responsibilities a risk assessment specialist carried out control over the correct application by the credit department 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 department of the internal regulatory documents of the bank:

1. If there are current loans in other commercial banks / other obligations to third parties, it is necessary to request from the borrower copies of all pages of loan agreements / loan agreements signed by the head and chief accountant and carefully analyze the terms of the loan, contacting Special attention on the conditions for fulfilling the obligations of the borrower to a 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. Need to analyze production possibilities the borrower (clearly prescribe in the conclusions of the credit unit the degree of wear and tear of equipment and analysis of the performance production program for the last four reporting periods / calendar year, as well as the availability of a production program for the crediting period)
(in accordance with clause 2 of Instruction No. 3);

3. If the borrower makes settlements using barter and promissory notes (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 these types of settlements in the total income of the borrower (in accordance with clause 3 of Instruction No. 3);

4. It is necessary to carry out a motivated forecast of change financial condition for the short term, paying special attention to borrowers whose activities have unfavorable business development trends (the presence of a current loss, a decline in production, etc.)
(in accordance with clause 4 of Instruction No. 4);

5. When providing loans for replenishment working capital with the establishment of the tranche, the borrower should justify the established tranche period and compare the terms of repayment of tranches with the volume of proceeds Money attributable to the loan repayment period: with the terms of settlements under agreements concluded with suppliers and buyers, as well as with the turnover period of receivables and payables
(in accordance with Appendix No. 1 to Instruction No. 3);

6. It is necessary to indicate the terms of settlements under agreements with the 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 obligations to affiliates amount to more than 25% of the balance sheet; the share of the holding companies in the accounts receivable and payable of the borrower is more than 20%; the borrower actively uses non-monetary forms of payment in economic circulation (in accordance with clause 5 of Instruction No. 3);

8. An action plan for dealing 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 assessor makes the following proposals for optimizing credit work:

1. In the further work of the credit unit, it is necessary to take into account all the above comments;

2. It is necessary to analyze the causes of losses indicated by the borrower and form your own reasoned judgment (often clients do not provide a clear and correct explanation of the causes of losses);

3. Should be evaluated financial position/ business reputation of debtors and creditors (or suppliers and buyers) whose share exceeds 30% of the total volume of receivables / payables (or the volume of contracts);

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 the main debtors and creditors).

It should be noted that some risk managers work with the conclusion of the credit department and use only the information that is presented in it. Others prefer, in addition to the conclusion of the credit department, to work with primary documents: balance sheets, contracts with counterparties, founding 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 loan officer are different. While the credit department is tasked with fulfilling the lending plan, the risk manager is tasked with improving the quality of the loan portfolio.

The second reason is that one head is good, but two is better. The turnover of staff in the credit department is quite high, so young professionals may not know the intricacies of credit work, this requires relevant 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 qualitative and deeper analysis of credit risks.

Credit process

Basic concepts:

Consideration of an application for a loan

Preliminary negotiations and consideration of 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 financial and economic activities of the borrower;
• preparation of opinions for the lending unit, SB and SKKR on KK.

As a rule, at this stage, the loan officer checks that the borrower complies with the basic requirements of the bank, failure to comply with which leads to a refusal to provide credit funds. For example, the following requirements can be given:

• positive credit history;
• absence of overdue loans, receivables and payables;
• lack of file cabinet No. 2 to the current account;
• stable financial position, positive business reputation;
• manufactured products 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 - at least 1 year;
• the actual location of the borrower - in the region where the bank, bank branches are located;
• openness of business owners in relation to the bank, i.e. willingness to provide all necessary information about business, affiliates, etc.;
• compliance of the project proposed for financing with the credit, collateral and interest policy of the bank.

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 loan service

1. After collecting and analyzing the borrower's documents for a loan, the lending unit prepares a memo to the Security Council, AP with its conclusion attached.
2. The conclusion on the provision of a credit service with a positive assessment of the borrower by the lending unit, the SB and the AP is submitted for consideration by the DKR. Employees of the specified division get acquainted with the conclusion and prepare their memo / conclusion based on the results of the consideration. In the event of a negative conclusion of the DKR, the issue of providing a credit service, as a rule, is submitted to the credit committee for consideration only after the level of credit risks has been reduced or to the head office of the bank if the project is considered by a branch.
3. After the conclusions of all services are received, the lending unit examines the conclusions of the CC members. The conclusion on the provision of credit services of all services, including conclusions that have contentious issues, is submitted for a decision to the CC.
4. Consideration of the issue of providing a credit service to the KK.
5. Refusal to provide a loan service or a positive decision of the CC (within the approved lending limit) with further processing of loan documentation.

It should be noted here that, depending on the approved procedure for the bank's credit process, in case of a negative conclusion of the Security Council and (or) the DCF, no voting is held, and the project is automatically considered rejected. In some cases, consideration of the application is possible only in the head organization of the bank.

Lending operations in the 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 regulations of the Central Bank Russian Federation, limiting credit risks and maintaining optimal level liquidity of the branches and the bank as a whole, limits for independent lending are set for each branch.

At the same time, the procedure and frequency of setting limits, as well as control over their observance, 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 lending and other divisions of the branch involved in the process of providing the credit service. The decision to provide a branch with a loan service with non-standard conditions or above the established limits, as a rule, is made by the credit committee of the parent organization of the bank based on the conclusions of all departments of the branch.

Legal due diligence of credit documentation

1. After a positive decision of the CC, the JS prepares an opinion on the subject of checking the legal capacity and powers of the management bodies of the Bank's counterparties, based on memo lending department.
2. In the event of unavoidable legal risks, the issue of lending is re-submitted at a meeting of the Credit Committee.
3. In the absence of legal risks, the Loan Documentation package is signed and the loan is granted.

A few decades ago, company executives in Russia did not even know about the existence of the position of a risk manager, since similar functions were carried out mainly by professionals insurance business. And only recently the profession of a risk manager has taken its well-deserved place in the list of the most popular and sought-after professions. Recent studies have shown that today's risk managers are not, in fact, specialists in the field of risk management, as they were trained in general principles management and are not familiar with the specifics of this field of activity. Nevertheless, we can now define the category of people who are rightfully called risk management professionals - these are specialists in identifying, analyzing, controlling and monitoring a certain set of types of risks.

In practice, there are several reasons for creating a risk manager position in a company. Let's designate some of them. First, it is the centralization and coordination of risk management. Secondly, the introduction of an integrated approach to the risk management process. And finally, improving management's awareness of the risk position or activities of the organization. These are perhaps the most significant factors influencing the decision to establish a new position as a future risk assessor. The most important qualification components for taking the position of a risk manager, in turn, are such qualities as communication skills, the ability to manage, knowledge of accounting and reporting, knowledge of finance, mathematics and statistics, education in the field of risk management.

Finally, let's talk about the role of the risk manager itself. First of all, the risk manager, as a highly qualified specialist, is responsible for the daily implementation of the risk management program and increasing the level of awareness of the importance of risk management issues within the organization. He should not only monitor the state of affairs on a daily basis, but also exchange experience and judgment with others structural divisions. Moreover, the risk manager is responsible for the appropriate risk identification and analysis process at the earliest stage of a new project, informing higher management. Depending on the size of the organization and the amount of work associated with the assessment of all kinds of risks, the functions of a risk manager can be assigned to one specialist or to a separate unit. It seems that most managers and HR specialists will agree with the opinion that the functions of employees involved in the risk management process should be clearly defined and formulated in order to avoid future mistakes.

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.

Graduates of financial, economic or mathematical faculties of universities with at least 1 year experience as an analyst or financial manager can apply for the position of a risk manager. Employers require job seekers to know the basics accounting And financial analysis, statistical methods analysis and forecasting, methods for identifying, assessing and reducing risks. Skills in working with large data arrays are in demand. Applicants also need to be computer proficient (MS Office, SPSS, possibly SAS). Novice 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 vacancies relate to the fact that candidates have the skills to analyze the financial and economic activities of the organization. competitive advantage knowledge will serve in employment in English at a conversational or fluent 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.

Employers offer maximum earnings to certified specialists with at least 3 years of work experience in risk management. Applicant's experience in the field of strategic forecasting, modeling and effective system risk management. Applicants must also have the skills to successfully implement measures that minimize or eliminate the impact of risks. An additional advantage for experienced risk managers is knowledge of IFRS. 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 survey, among applicants for the position of a risk manager, the majority 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 old. Higher education 93% of risk managers have. 30% of specialists are fluent in English.

The portrait of the applicant is shown in Figure 1.

Regions of study: years. Moscow, St. Petersburg, Volgograd, Yekaterinburg, Kazan, Nizhny Novgorod, Novosibirsk, Rostov-on-Don, Omsk, Samara, Ufa, Chelyabinsk

Time of the study: January 2011

Unit of measurement: Russian ruble

Object of study: offers of employers and expectations of applicants for the position of "Risk Manager"

Typical functionality:

Participation in the development of a risk management strategy;

Analysis and evaluation of strengths and weaknesses organizations, business process analysis;

Identification of threats of losses and identification of 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.

Requirements for the position: type of employment - full time.

The level of remuneration of a specialist is determined by the welfare of the company, the list official duties, work experience in the specialty, the level of development of professional skills. Denisov V. In the beginning there was a manager. // Corporate management. 2010. No. 8. P. 13.

Thus, risk managers examine business processes, assess the strengths and weaknesses of the company, analyze the threat of losses and identify sources of danger, and participate in the development of a risk management strategy. The competence of these specialists includes the control of risk indicators, the economic assessment of risks, the 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 at least 1 year experience as an analyst or financial manager can apply for the position of a risk manager. Employers require applicants to know the basics of accounting and financial analysis, statistical methods of analysis and forecasting, methods for identifying, assessing and reducing risks. Skills in working with large data arrays are in demand. Applicants also need to be computer proficient (MS Office, SPSS, possibly SAS). Novice 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 vacancies relate to the fact that candidates have the skills to analyze the financial and economic activities of the organization. Competitive advantage in employment will be knowledge of 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 work experience with business process analysis skills and experience economic evaluation risks, in Moscow they can claim income 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 maximum earnings to certified specialists with at least 3 years of work experience in risk management. Applicants' experience in the field of strategic forecasting, model building and an effective risk management system is in demand. Applicants must also have the skills to successfully implement measures that minimize or eliminate the impact of risks. An additional advantage for experienced risk managers is knowledge of IFRS. 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 survey, among applicants for the position of a risk manager, the majority 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 old. 93% of risk managers have higher education. 30% of specialists are fluent in English.

Research regions: gg. Moscow, St. Petersburg, Volgograd, Yekaterinburg, Kazan, Nizhny Novgorod, Novosibirsk, Rostov-on-Don, Omsk, Samara, Ufa, Chelyabinsk
Time of the study: January 2012
Unit of measurement: Russian ruble
Object of study: offers of employers 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 the strengths and weaknesses of the organization, analysis of business processes;
- identification of threats of losses and identification of 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 of a specialist is determined by the well-being of the company, the list of job responsibilities, work experience in the specialty, and the level of development of professional skills.

Examination of the data array about wages in the studied regions allows us to distinguish 4 main salary ranges depending on the experience and professional skills of specialists.

Analysis of information on the levels of remuneration of a specialist:
(excluding bonuses, additional benefits and compensations)

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.

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Risk manager

The research center of the recruiting portal in January 2012 studied the offers of employers and the expectations of applicants for the position of "Risk Manager" in 12 cities of Russia.