Core Viewpoint - The article announces the recruitment of postdoctoral researchers by China Merchants Bank, highlighting its commitment to fostering high-level talent in the financial sector and its focus on innovative research areas relevant to the banking industry [4][5]. Recruitment Details - The bank aims to recruit 5 postdoctoral researchers for the 2026 batch, with research directions including risk management in low-interest environments, strategies for SMEs, and asset allocation models suitable for the Chinese market [5][8]. - Candidates must have obtained a doctoral degree within the last two years or be expected to graduate in 2026, with preferred backgrounds in economics, finance, management, computer science, artificial intelligence, or mathematics [6][8]. Research Opportunities - The research directions also encompass topics such as the development of pension finance systems, technology finance strategies, overseas market strategies for Chinese banks, and digital asset business opportunities [8][11]. Benefits and Support - Postdoctoral researchers will benefit from a competitive salary and welfare package, including a living allowance of 360,000 yuan during their two-year research period, with additional support for those who meet certain criteria [12]. - The program offers a unique career development ecosystem, including a career retention plan and a supportive work environment in Shenzhen [11][12]. Application Process - Interested candidates must submit their applications by October 10, 2025, through the official recruitment website, including a research proposal, CV, recommendation letters, and other required documents [13][14]. - The selection process includes an initial review followed by written tests and interviews for qualified candidates [16].

Core Viewpoint - The National Financial Supervision Administration has released a draft for the "Management Measures for Mergers and Acquisitions Loans by Commercial Banks," marking the first comprehensive upgrade of the regulatory framework since 2015, focusing on "optimizing services and preventing risks" [1] Group 1: Regulatory Changes - The new measures introduce a balanced approach of "moderate looseness and strictness," allowing for financial support in industrial integration while setting clear risk boundaries for commercial banks [1] - For the first time, the measures include support for equity acquisitions, expanding beyond the previous focus on controlling acquisitions, aligning with current industrial chain collaboration needs [1] - The loan ratio and term have been relaxed, with the upper limit for controlling acquisition loans raised from 60% to 70% and the maximum term extended from 7 years to 10 years; equity acquisition loans are capped at 60% with a maximum term of 7 years [1] Group 2: Enhanced Risk Management - The measures require banks engaging in acquisition loans to meet conditions such as "good regulatory ratings" and "meeting key prudential regulatory indicators," along with asset size thresholds to prevent smaller banks from engaging in high-risk activities [2] - A closed-loop risk control process is mandated, focusing on pre-loan assessments of repayment capacity and post-loan vigilance against fund misappropriation and fraudulent acquisitions [2] - Quantitative risk boundaries are established, such as the total balance of acquisition loans not exceeding 50% of Tier 1 capital and equity loan balances not exceeding 30% of total acquisition loans [2] Group 3: Operational Requirements - Banks are required to establish specialized management mechanisms and systems to comply with the new measures, including defining business processes, risk assessment standards, and approval mechanisms [2] - The formation of a professional team is mandated, including merger experts, credit analysts, industry researchers, lawyers, and accountants, to enhance risk identification accuracy [3] - A multi-dimensional repayment capacity assessment system is to be constructed, analyzing both financial and non-financial factors to evaluate the ongoing profitability and debt repayment ability of acquired companies [3]

Core Insights - The article emphasizes that external risks outweigh internal risks, and macro risks are more significant than micro risks in the current economic and financial landscape [2][3] - Commercial banks are expected to face ongoing challenges from external uncertainties, necessitating a unified strategic vision to balance business development and risk management [2][3] Group 1: Limitations in Management Framework and Tools - The current risk management framework, established by the 2016 CBRC guidelines, categorizes external uncertainties into various risk types but fails to capture their structural characteristics and cross-sectional risk factors [4] - Existing management tools primarily rely on stress testing and extreme scenario analysis, which do not adequately address the systemic impacts of external uncertainties on commercial banks [4] Group 2: Limitations in Response Mechanisms and Work Methods - Two main response mechanisms exist: one initiated by governance and management layers focusing on affected departments, and another relying on existing departmental responsibilities, both of which lack comprehensive coordination and strategic oversight [5] - These mechanisms often result in fragmented solutions that do not adequately address the overarching challenges posed by external risks [5] Group 3: Deviations in Risk Management Philosophy and Team Configuration - Domestic commercial banks exhibit a gap in risk management philosophy compared to international peers, often viewing risk management as opposed to business development, which undermines overall risk resilience [6] - The current environment of heightened regulation and economic downturn has led to a risk-averse culture, limiting proactive decision-making and potentially exacerbating competitive disadvantages [6] Group 4: Geopolitical Risks and Their Impact - Geopolitical risks, driven by events such as the Russia-Ukraine conflict and trade tensions, significantly affect traditional risk types, including credit, market, operational, liquidity, and funding risks [7][9] - Research from institutions like the ECB and IMF highlights the pathways through which geopolitical risks influence asset prices and the broader financial environment [9] Group 5: Recommendations for Improvement - It is recommended to unify the understanding of information importance between business and risk functions to support macro and micro decision-making [11] - Adopting iterative work methods can address structural issues in management systems, enhancing information collaboration and feedback mechanisms [12] - Promoting the organic integration of strategic and risk management processes is crucial for ensuring that banks maintain a correct strategic direction amidst external challenges [16]