学校代码： 10589 学号： 18125100220166
分 类 号： 125100 密级：
硕 士 学 位论文
题 目： Z 消费金融公司海南业务风险管理研究
作 者：周 芸
第一导师：刘家诚 教授
第二导师： 陈 鹏
类 别： 专业硕士学位
专 业：工商管理
时 间： 二○二一年六月
Research on Risk
Management of Hainan Business
of Z Consumer Finance Company
A Thesis
Submitted in Partial Fulfillment of the Requirement
For the MBA Degree in Hainan University
By
Zhou Yun
Supervisor: Liu Jia-Cheng
Major: Business Administration
Submitted time: 2021
摘 要
长期以来，作为我国经济增长的三驾马车之一的消费一直是扩大内需与刺激经济增
长的重要部分，在国家鼓励消费拉动经济的背景下，消费信贷需求逐年增长，仅仅只是
银行所提供的消费信贷已经不能满足广大民众日益增长的需求了。2010 年四家持牌消费
金融公司的正式成立，给予了客户更多的金融服务选择，对刺激消费增长与丰富金融
体系都有促进作用。然而经历过爆发式增长的阶段，业绩指标翻倍的背后， 消费金融
行业初期风险管控的薄弱导致许多消费金融公司发展到今天或多或少面临逾期率上升、
坏账率居高等风险，甚至部分公司还爆发过欺诈门事件，因此对于消费金融公司而言，
风险管理非常重要。
Z 消费金融公司虽然是 2010 年就成立的银行系控股消费金融公司，但海南业务
是 2016 年才开始的，目前主要经营产品为线下的信用消费贷款与抵押消费贷款，其
中抵押消费贷款是海南的主要业务。这两款产品针对个人最高贷款额度 20 万元，贷
款流程由申请、审批、办理抵押手续、电话确认放款组成，流程简单快捷，放款速度一
般在 T+1 个工作日内放款。目前营销模式采取客户经理直接对客式营销的自营模式
与第三方合作机构推荐客户两种模式，以第三方合作机构推荐为主要营销模式。
本文采用案例分析法、调查访谈法等方法，由访谈情况引入分析，针对 Z 消费金融
公司海南业务的风险管理问题进行深入研究，发现 Z 消费金融公司海南业务从贷款发
放前、贷款中台辅助至贷后三个环节过程中涵盖信用风险、操作风险、市场风险、声
誉风险等风险，通过风险坐标图分析确认信用风险为重大风险。最后，借鉴国内外同行
企业的优秀经验与相关教训，例如同为银行系消费金融公司的桑坦德消费金融有限公司的
经验，之后再结合海南实际政策与客户特征，对 Z 消费金融公司海南业务经营中现有的
风险问题与可能发生的风险问题提出建议，包括开发本地特色产品、建立本地化的数
据风控模型等措施，希望能够帮助加强 Z 消费金融公司海南业务中的风险管理能力，
促进业务发展。
关键词：消费金融公司；海南；风险管理
Abstract
For a long time, as one of the three carriages of China;s economic growth,
consumption has always been an important part of expanding domestic demand and
stimulating economic growth. Under the background of the state;s encouraging
consumption to drive the economy, the demand for consumer credit is growing year by year.
Only the consumer credit provided by banks can no longer meet the growing demand of
the general public. The formal establishment of four licensed consumer finance companies
in 2010 has given customers more choices of financial services, which has a promoting
effect on stimulating consumption growth and enriching the financial system. However,
after the explosive growth stage, behind the doubling of performance indicators, the
weakness of risk management and control in the initial stage of consumer finance industry
has led many consumer finance companies to more or less face the risk of rising overdue
rate and high bad debt rate. Even some companies have experienced fraud incidents.
Therefore, for consumer finance companies, risk management is very important.
Although Z consumer finance company is a bank holding consumer finance company
established in 2010, its business in Hainan only started in 2016. At present, its main
business products are offline credit consumer loans and mortgage consumer loans, of
which mortgage consumer loans are the main business in Hainan. These two products aim
at the maximum personal loan amount of 200000 yuan. The loan process consists of
application, approval, mortgage procedures and telephone confirmation. The process is
simple and fast, and the lending speed is generally within t + 1 working days. At present,
the marketing mode adopts two modes: the customer manager;s direct customer marketing
mode and the third-party cooperative organization;s recommendation mode, with the third-
party cooperative organization;s recommendation as the main marketing mode.
By using the methods of case analysis, investigation and interview, this paper makes
an in-depth study on the risk management of Z consumer finance company;s business in
Hainan. It is found that the process of Z consumer finance company;s business in Hainan
includes credit risk, operational risk, market risk and reputation risk, Through the analysis
of risk coordinate chart, credit risk is confirmed as a major risk. Finally, drawing on the
excellent experience and relevant lessons of domestic and foreign counterparts, such as the
experience of Santander Consumer Finance Co., Ltd., which is a consumer finance
company in the banking sector, and then combining with Hainan;s actual policies and
customer characteristics, this paper puts forward some suggestions on the existing risk
problems and possible risk problems in the Hainan business operation of Z consumer