Research on comprehensive risk management system construction based on SPIC for local state-owned investment finance companies

Abstract

Local State-Owned Investment Finance Companies, as microcosmic bodies to intervene economic operation for the local government, play irreplaceable roles in guiding the social investment, promoting the adjustment of economic structure, strengthening controlling force of state-owned economy and increasing the value of state-owned assets. Jet more and more operational risk management has been accumulated. This article analyzes the comprehensive risk management theory at home and abroad, and summarizes the risk and countermeasures of local state-owned investment Finance Companies. Furthermore, based on the overall risk management framework (ERM) which is built by American national anti Fraudule Financial Reporting Council Initiative (COSO), and on the Guidelines to comprehensive Risk Management of Central Enterprise in China and other research results, this article puts forward the comprehensive risk management system for local stateowned investment and Finance Companies including organizational structure, business processes, information systems and management culture, which may provide references for the government to conduct a comprehensive riskmanagement for local state-owned investment Finance Companies.