국내 상조공제조합 재무 건전성 검증 및 제고 방안 : 재무리스크관리측면

Abstract

The purpose of this paper is to analyze the mutual aid industry cooperative’s financial measures which the cooperative should employ for financial stability are generally composed of Expected Loss and Unexpected Loss; each part is modeled and calculated. This paper compared the calculated Expected Loss with the cooperative’s deposit rate and also compared the calculated Unexpected Loss with the economic capital which the cooperative possesses. As a result, the deposit rate which the cooperative has is lower than the optimal deposit rate of the Expected Loss in all credit ratings except the interval between AAA∼AA ranks and partially in A and B ranks. On the other hand, it turns out that the cooperative possesses the economic capital more than the unexpected loss. According to the analysis result, this paper suggests followings for the cooperative’s autonomous risk management. First of all, the cooperative needs continuous efforts for the stability of deposit rate. Secondly, to calculate the optimal deposit rate, the consideration on credibility and expertise about risk management such as credit rating of the cooperative should be preceded. Finally, in the long term, we need to develop the legal system for stable risk management, for example up to the security level of Japanese cooperative.