THE USE OF FINANCIAL ENGINEERING TECHNIQUES IN RISK MANAGEMENT IN BANKS: APPLIED STUDY OF A SAMPLE OF IRAQI PRIVATE BANKS
Keywords:
Financial Engineering Techniques, Risk Management in Banks.Abstract
Iraqi private banks are considered one of the most important financial institutions, as they play a distinct economic and social role in Iraq, through their practice of banking and investment services. This study mainly aims to define financial engineering and banking risk management and determine its importance by highlighting the role of its techniques in managing those risks, as well as measuring the level of adoption of the methods of that engineering in risk management in Iraqi private banks while measuring the nature of the correlation and measuring the level of impact.In the first chapters, study dealt with the theoretical aspect of financial engineering and banking risk management, as this engineering is considered one of the most prominent and recent entrances in the science of finance, as it focuses on addressing financing problems and risk on the one hand and introducing new financial products on the other hand. Based on the foregoing, and based on the importance of the role that financial engineering plays in the process of managing banking risks in banks through its risk management techniques, the topic of adopting financial engineering procedures in risk management in Iraqi private banks has been addressed in this thesis. A group of Iraqi private banks was chosen as a field of study in order to achieve the desires of the current research, as this required obtaining the opinions of workers in a sample of Iraqi private banks amounting to (106) individuals. The descriptive approach was followed to extract and analyze a package of results, and through it we concluded that there is a correlation of significant significance as well as a direct effect relationship between the financial engineering variable and the banking risk management variable and methods of using financial engineering techniques and risk management in banks, with recommendations to intensify efforts to increase the level of awareness and develop Iraqi banking risk management.
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