ASSET AND LIABILITY MANAGEMENT: A MULTIPLE CASE STUDY IN BRAZILIAN FINANCIAL INSTITUTIONS

Purpose - In the face of an unstable scenario, many banks began to implement the Asset and Liability Management - ALM, in order to mitigate possible risks, and maximize profitability. In view of this, this study proposes the following problem situation: which managerial resources promote the implementation of ALM and avoid future problems within Brazilian financial institutions? Our objective is to investigate how Brazilian financial institutions are structuring the ALM. Design/methodology/approach - The methodological resource adopted was a Multiple Case Study with qualitative exploratory research based on a perception survey from Brazilian market specialists that deal with ALM in banks and pension funds. Findings - Among the data collected for implementation, the most prominent were: the identification of assets in which the institution can potentially invest, point estimates of the return on these assets, pertinent legal constraints, parameters used in the development of liquidity constraints and policy constraints adopted by the institution. Research limitations/implications - This study had the limitation of not dealing with other segments in the case studies, and it did not approach computational models in the context of the national market. However, it is expected that there will be more investment in studies on the theme. Thus, it is suggested that the study is made available in the Brazilian scenario, and the adoption of the model in institutional settings and by other investors. Practical implications - ALM theme has relevance in its potential to allow the discovery of economic and financial vulnerabilities of an organization, as well as to mitigate their risks. Originality/ value - The paper may bring more knowledge about this management and the process of implementation in Brazilian financial institutions, particularly in the banking segment, considering that it is still a novel concept in the country.