Enterprise Risk Management and Corporate Governance

The aim of this thesis is to evaluate present experiences with enterprise risk management implementation and to provide potential solutions for futher risk management development. It also includes minor aims clarifying often falses, which are done by companies. At the beginning of the thesis there are presented common principles with qualitative and quantitative methods. Then the implemenation part is following where methods and conditions of enterprise risk management are described. For succesful system implementation is then described risk culture, where corporate governance is firstly mentioned. A diference among risk management and enterprise risk management is shown in a next chapter compiling financial management and risk management. Own Solvency II experiences, RVA concept, risk management deficiencies and transition from risk measurement to risk management are closing the thesis. The conclusion of the thesis only summarises aims' fulfillment and said hypotheses are confirmed. Enterprise risk management has to be based on common risk management acceptation as a mainstream of the company that has to be fully supported by risk management department.