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Managing Risk of Trade Credits Default in Russian Export - Oriented Industrial Enterprises (the Metallurgy Case)

Student: Victoria Aksenova

Supervisor: Elena Rogova

Faculty: St.Petersburg School of Economics and Management

Educational Programme: Economics (Bachelor)

Year of Graduation: 2018

Global commodity producers are faced huge credit risk while operating with foreign counterparties on deferred payment terms. In anticipation of a new financial crisis, companies need to learn how to manage this risk. Previously used methods of assessing the solvency of customers have shown their inexpedience. In addition, new ways of managing risk are emerging. The most popular are trade insurance, payment guarantees, factoring and forfeiting schemes that shift the risks to a third party. This paper describes highlights examples of best practice in the areas of the assessment and management of credit risk for industrial enterprise. The main purpose of this work is to develop a strategy selection model for minimizing credit risks. The primary tasks of the work are: to analyze the current quality of accounts receivable's management; to assess the solvency of customers on the basis of scoring model which is adapted for industrial enterprises; to select tools to minimize credit risk in the given conditions.

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