Экономические науки/6. Маркетинг и менеджмент

Muhtarova M.N., Perdaly ZH., Usserbayeva M., Aygaskayeva A.

Al-Farabi Kazakh National University, Kazakhstan

New integrated approaches to risk assessment - new paradigms and realities

The crisis - the probability of default of 50/50 %. What has changed in the crisis and post crisis?

- The approach to probability of default devalued or revised;

- The situation analysis has become a new foundation in the evaluation

- Greater attention to the analysis and evaluation of the external risk environment for business (ratings of the object)

- The effect of holding assessments to evaluate business units

- A departure from the cookie cutter models: the perfect economic model and corporate non-existent.

- the first time in decades to change attitudes towards the zone of free risk

- Qualitative assessment with more weight prevails over quantitative

- The focus of analysis in the context of "pain points" Capital - Liquidity - the quality of assets - leverage - profitability

- analysis of strategies, targets and their performance over the period.

How is the risk management system qualitative analysis unit

1. Reputation and significance of the bank

2. Organizational structure and personnel management

3. Strategy Development Bank (and execution)

4. Credit policy

5. Management of financial resources

6. Risk management and decision-making

7. Customer policy and product range

8. Technical equipment and manufacturability

What is evaluated

- Availability of a workable system

- System components

- Compliance with international standards

- The integration of business processes

- Decision Support Systems

- Professional Risk Managers

- methodology

- Efficiency in the operation of the system

- Monitor the implementation of decisions or limits

- Automation.

Baseline data for evaluation

- survey

- query procedures and regulations for the evaluation

- Rating interview

- Summary of decision-makers

- System operation technology scheme with explanations

- Examples of operational risk management

- Examples of development or "evolution" of the system

The idea of creating a European RA

- The European Commission encourages the development of European rating agencies, as opposed to the "big three", and also adopted a number of laws, toughening rating activities.

- The European Commission follows the path of limitation of activity "Big Three" in the EU. A lot of negative comments about the major European politicians and the European Commissioners in relation to the triple global players came after a series of downgrades of sovereign ratings of EU

- Another proposal of the European Commission is to double the rating of three and its transformation into a six rating. When the "Big Three" works and is regulated by the SEC, and its subsidiaries are headquartered in the European Union and regulated by European legislation and the European Commission for Securities.

- In July 2010, the French insurer Coface has applied to the European supervisory authority for securities CESR for permission to operate as a credit rating agency in ten European countries: Germany, France, UK, Italy, Spain, Portugal, Belgium, the Netherlands, Czech Republic and Poland. Coface will work on a different scheme than Moody's, Standard & Poor's and Fitch - for ratings will be paid not only to the issuing company, but also users.

- European Association of Credit Rating Agencies - unites today more than 15 RA represented in Europe, including two Russian, one Japanese and one Ukrainian agency offers a different principle. Creation of a unified information platform.

Agency, operating in Europe

Rating Agencies	A country
AM Best	UK
Fitch Ratings	UK
Moody's Investor Services	Global
Standard and Poors	Global
Assekurata	Germany
Creditreform Rating AG	Germany
Feri EuroRatings Services	Germany
PSR Rating	Germany
GBB	Germany
Banque de France Rating	France
Coface	France
ICAP	Greece
Cerved Group	Italy
Japan Credit Rating	Japan
CPR	Portugal
European Rating Agency, a.s.	Slovakia
JCR Eurasia	Turkey
Bulgarian Credit Rating Agency	Bulgaria
Capital Intelligence Limited	Cyprus
Credit Rating	Ukraine

According to EACRA (European Association of Credit Rating Agencies)

The creation of an Asian RA Ideas

- As such, the idea of creating a single Armenian in Asia does not exist. But this role claimed by two players Japan Credit Rating Agency, and Dagong Global Credit Rating Co., Ltd. First presented in Europe and registered in SEC. The development strategy of the second, the Chinese agency, aims to create a major agency in the BRIC countries.

- Asian investors pay attention to the information of local rating agencies in making investment decisions, but is dominated by global players and there.

- There is in Asia, and another line of rating services and products - are Islamic rankings. Practices which methods and valuation principles differ greatly from the classical model of credit rating. The closest to this model of quality assessment. The largest player in the market of Islamic ratings is Islamic International Rating Agency of Bahrain. The status of this agency is very high in Muslim countries.

- ACRAA (Association of credit rating agencies Asia) contributes to facilitating the exchange of information and experience with a view of institutional development and strengthening of credit rating agencies carries out activities aimed at the implementation of best practices and common standards, which helps ensure high quality and comparability of credit ratings across the continent to based on respect for common standards and rules of ethics and professional conduct for rating agencies, support for capital market development and to assist in the expansion of international investment in Asia.

The Agency carries out its activities in Asia

Rating Agencies	A country
Japan Credit Rating Agency	Japan
Seoul Credit Rating & Information, Inc.	Korea
Korea Investor’s Service	Korea
Korea Ratings Corporation	Korea
NICE Investors Service Co.,Ltd	Korea
Islamic International Rating Agency	Bahrain
Credit rating Information and Services Ltd	Bangladesh
Credit Rating Agency of Bangladesh Ltd.	Bangladesh
Credit Analysis and Resersh Ltd.	India
ICRA Ltd.	India
CRISIL Ltd.	India
PEFINDO Credit Rating	Indonesia
P.T. Moody’s Indonesia	Indonesia
Rating Agency Malaysia Berhad	Malaysia
Malaysia Rating Corporation Berhad	Malaysia
JCR-VIS Credit Rating Co., Ltd	Pakistan
Pakistan Credit Rating Agency Ltd.	Pakistan
Dagong Global Credit Rating Co., Ltd	China
Shanghai Far East Credit Rating Co., Ltd	China
China Chengxin Int’l Credit Rating Co.,Ltd	China
Philippine Rating Services Corporation	Philippine
IRC “Ahbor Rating”	Uzbekistan
TRIS Rating Co., Ltd	Thailand
Taiwan Ratings Corporation	Taiwan
Lanka Rating Agency Ltd.	Sri Lanka

According to EACRA (European Association of Credit Rating Agencies)

The idea RA EAEC

- The differences of opinion on the calculation of sovereign ratings is not only global agencies and state governments, but also differences in the assessments of different rating agencies.

- Presence of a single economic space, which requires not only independent evaluations of reliability / solvency of economic entities, but also intuitive mapping mechanism and the conversion of such assessments.

- The possibility of obtaining estimates independent of the use of template models, according to the principle of "development, developing, underdeveloped" country. The use of clear, transparent and uniform model.

- Lack formed depending on the geopolitical model, the use of an algorithm built only on the economic, social and internal political processes.

- Creating a new international estimates of the scale allows more accurately correlate the sovereign ratings of countries as an economic union, and other independent countries.

Literature

1. Bir S. Brain of the firm - Brain of the firm. - 2 nd ed. - Moscow: URSS, 2005. - P. 416.

2. EO Chovushyan, MA Sidorov, Risk Management and Sustainable Development. -M .: 2009

3. Ansoff I. Strategic Management, Publisher: Piter, 2011.- P. 344