风险并表管理是金融集团在整体层面评估和管控跨境、跨机构、跨市场等交叉性金融风险的重要工具。伴随着证券行业创新发展的深入，证券公司集团化与国际化经营模式日趋明显，以证券公司为主的金融集团初具雏形，风险并表管理需求日益突出。境内外其他金融机构已开展了一段时间的风险并表管理实践，为证券公司风险并表管理提供了重要借鉴。本文在剖析集团化与国际化经营给证券公司风险管理带来的新挑战，考察境内外金融集团风险并表管理的基本模式，辨析制约证券公司风险并表管理关键因素的基础上，为证券公司风险并表管理提供政策建议。
With the deepening development of the securities industry，international and collectivize management becomes the fundamental trends of securities companies，and the demand for risk consolidated management is increasingly prominent. Other financial institutions both at home and abroad have launched a risk consolidated management practice for a long time，which provides an important reference for securities companies. This paper will analyze the new challenges brought by the group and the international management to the risk management of the securities companies，examine the basic models of the risk consolidated management of the domestic and foreign financial groups，and analyze the key factors that restrict the risk consolidated management of the securities companies，and provide the policy suggestions.
