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International Business Risk Management in COVID-19 Crisis (Case Study on HSBC in the United Kingdom)

Student: Sitora Nazarieva

Supervisor: Tatiana G. Filosofova

Faculty: Faculty of World Economy and International Affairs

Educational Programme: World Economy (Bachelor)

Year of Graduation: 2021

In the context of a globalized economy, increased competition, pressure from sanctions and, especially in the context of the global COVID-19 pandemic, there is an urgent need for enterprises to create an effective risk management system that prevents, manages and copes with various risks. The aim of this thesis is to research and assess risks using the example of HSBC in the UK. To achieve this goal within the framework of this work, it is necessary to solve the following tasks: analyze the concept of enterprise risk management (1), consider approaches to classification (2), determine the current situation of the enterprise risk management process in the selected company (3), conduct a risk assessment in the selected company and predict the future value of the company's security (4), develop recommendations for eliminating or minimizing risks for the selected company in order to improve the existing enterprise risk management process (4). Based on the results of the study, various approaches to the classification of the term "risk" and the interpretation of the essence of "risk management" were studied, calculations were made to determine the financial stability of HSBC bank in the UK, the market risk was assessed using the analytical VaR modeling method, the future asset value and potential amount of losses were predicted and also developed recommendations for minimizing risks at HSBC in the UK. Having studied all the risks and problems faced by the bank, the following recommendations were put forward regarding the level of risk minimization in the future: building HSBC relations with China and the United States (1), developing digital programs (2), strengthening the focus on risk management (3) and strengthening thorough verification of suspicious accounts and analysis of the ins and outs of potential customers (4).

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