Management of financial risks in entities of the venezuelan private banking system

Abstract

This research aims to analyze the management of financial risks in entities of the Venezuelan private banking system. To fulfill this purpose a documentary methodology with bibliographic design is used, consulting different authors such as Fernandez (2010), Ruza and Curbera (2013), Blanco (2015), Ibañez (2013) among others, collecting relevant information to purposes of formulating an analysis and final reflections of the content. For the phase in which the information is consolidated, a database prepared for this purpose is used. In the development of the analysis stage of the documents and sources, the textual content tabs were developed, which allow the handling of the data. As final considerations, it is sought to strengthen the attention in the prioritization or hierarchization of the financial risks to which the financial institution is exposed, in order to establish more efficient strategies, through which immediate actions can be taken to tangible consequences in the short term. Finally, with regard to the general objective aimed to analyze the management of financial risks in entities of the Venezuelan private banking system, it is concluded that the entities are concerned with prioritizing or establishing an order of importance to the risks according to their impact on the different areas of themselves, so they determine the probability of their occurrence based on the characteristics of each of the areas, thus being able to establish control mechanisms.