Research and methodological framework for managing the economic security of financial intermediaries in Ukraine

• Main Authors: Nataliia Zachosova, Nataliia Babina, Volodymyr Zanora
• Format: Article
• Language: English
• Published: LLC "CPC "Business Perspectives" 2018-12-01
• Series: Banks and Bank Systems
• Subjects: bank; banking system; economic security; economic security management; financial intermediaries; financial market
• Online Access: https://businessperspectives.org/images/pdf/applications/publishing/templates/article/assets/11377/BBS_2018_04_Zachosova.pdf

The effective management of economic security of financial and banking institutions at the application level is not possible without formulating the conceptual foundations of this process in the research and methodological plane. With that, the management system should take into account the specifics of financial intermediaries, which requires the development of specific research and methodological approaches. The purpose of the study is to generalize the conceptual framework for economic security management of banking and parabanking financial institutions as an integral part of ensuring the economic security of the financial market and financial security of the state. The authors propose an algorithm for managing the system of economic security of banks and other financial institutions, and identify the features, advantages and disadvantages of models for providing economic security. It is proved that managing the economic security system should consider the type of an institution, its size, the adequate personnel availability, and financial, information and material support. Consequently, effective economic security management should ensure its high level, and, therefore, partially solve the problem of regulating banking security, the financial market security, and, as a consequence, the financial security of the country.