VSFS:N_RR Risk Management - Course Information

N_RR Risk Management

Extent and Intensity

2/1/0. 6 credit(s). Type of Completion: zk (examination).

Teacher(s)

Ing. Miroslav Halouzka, CSc. (seminar tutor)
prof. Ing. Peter Krištofík, Ph.D. (seminar tutor)

Guaranteed by

prof. Ing. Peter Krištofík, Ph.D.
Department of Economics and Management – Departments – University of Finance and Administration
Contact Person: Mgr. Petra Dovhunová

Timetable of Seminar Groups

N_RR/cEKFIPH: each even Wednesday 17:30–18:14 S24, each even Wednesday 18:15–19:00 S24, P. Krištofík
N_RR/cEKKV: each odd Monday 14:00–14:44 KV204, each odd Monday 14:45–15:30 KV204, M. Halouzka
N_RR/pEKFIPH: each even Wednesday 14:00–14:44 S24, each even Wednesday 14:45–15:30 S24, each even Wednesday 15:45–16:29 S24, each even Wednesday 16:30–17:15 S24, P. Krištofík
N_RR/pEKKV: each odd Monday 10:30–11:14 KV204, each odd Monday 11:15–12:00 KV204, each odd Monday 12:15–12:59 KV204, each odd Monday 13:00–13:45 KV204, M. Halouzka
N_RR/vEKPH: Fri 2. 10. 17:30–19:00 S14, 19:15–20:45 S14, Sat 17. 10. 9:45–11:15 E230, 11:30–13:00 E230, Sat 14. 11. 9:45–11:15 E230, 11:30–13:00 E230, Sat 12. 12. 11:30–13:00 E230, 14:00–15:30 E230, M. Halouzka

Prerequisites

There are no prerequisites for this course.

Course Enrolment Limitations

The course is offered to students of any study field.

Course objectives

Mastering the overall issue of risk management in the company, outline history and explanation of the broader context of risk. Clarification of risk management processes and their links to business processes particularly strategic and operational controlling. Risk mitigation and its methods. Interpretation of the organization's risk management businesses (including the differences between small, medium and large enterprises). After completing the course the student will learn fundamental issues of risk management in the system, particularly the issue of identification, analysis, and implementation of risk management in the context of whole system of management.

Learning outcomes

After completing the course the student will learn fundamental issues of risk management in the system, particularly the issue of identification, analysis, and implementation of risk management in the context of whole system of management

Syllabus

Plan of subject: 


1. 
   Introduction to Risk Management. The concepts of risk and uncertainty, objective and subjective risk, threats, vulnerabilities, exposure, and impact. The importance of risk management in finance, business management, and information systems.

2. 
   The Risk Management Process. Establishing the context; risk identification, analysis, evaluation, treatment, monitoring, and communication. ISO 31000 principles and their practical application.

3. 
   Risk Identification and Classification. Strategic, financial, market, credit, liquidity, operational, legal, reputational, technological, and cyber risks. Internal and external sources of risk.

4. 
   Qualitative Risk Assessment. Likelihood and impact, risk matrices, risk maps, inherent and residual risk, and the limitations of qualitative assessment.

5. 
   Quantitative Risk Analysis. Probability distributions, expected value, variance, standard deviation, correlation, confidence intervals, and loss distributions.

6. 
   Decision-Making under Risk and Uncertainty. Decision matrices and decision trees, expected utility, risk aversion, sensitivity analysis, and the value of information. Behavioral approaches to risk.

7. 
   Financial Risks. Market, interest rate, foreign exchange, credit, and liquidity risk. Basic principles of diversification, hedging, risk limits, and Value at Risk.

8. 
   Business and Strategic Risks. Risks related to business models, competition, supply chains, investment projects, and changes in the external environment. Business continuity and crisis management.

9. 
   Operational Risk and the Internal Control System. Human factors, process failures, fraud, compliance, control mechanisms, and the Three Lines Model. The relationship between risk management, internal control, and audit.

10. 
    Information Systems and Cyber Risks. Information availability, confidentiality, and integrity; cyberattacks, data protection, access management, dependence on technology providers, and IT service continuity.

11. 
    Emerging Risks and the Use of Data and AI. Model risk, automation bias, risks of algorithmic decision-making, climate-related and ESG risks. The use of data analytics and artificial intelligence in risk monitoring.

12. 
    Integrated Risk Management – Enterprise Risk Management. Risk strategy, risk appetite, tolerance and capacity, risk culture, reporting to senior management, and the alignment of risks with strategic objectives.

Literature

required literature
• BLAHOVÁ, Naďa. Rizika bank a jejich regulace. Jesenice: Ekopress, 2018, 283 s. ISBN 978-80-87865-47-7.
• ČASTORÁL, Zdeněk. Management rizik v současných podmínkách. Praha: UJAK, 2017, 268 s. ISBN 978-80-7452-132-4.
• LINDAUER, Roman. Modern risk management remarks. Prague: Oeconomica, 2017, 98 s. ISBN 978-80-245-2206-7.
• HAVLÍČEK, Karel a Pavla BŘEČKOVÁ. Řízení exportních rizik malé a střední firmy. Praha: Eupress, 2015, 52 s. ISBN 978-80-7408-113-2.
• NEUGEBAUER, Tomáš. Vyhledání a vyhodnocení rizik v praxi. 3. vyd. Praha: Wolters Kluwer, 2018, 119 s. ISBN 978-80-7552-072-2.
• HALOUZKA, Miroslav and Naděžda PETRŮ. Rizika a jejich řízení (Risks and Their Management). Online. Praha: Vysoká škola finanční a správní, 2026, 258 pp. EUpress. ISBN 978-80-7408-288-7. WWW odkaz na publikaci info

recommended literature
• CIPRA, Tomáš. Riziko ve financích a pojišťovnictví: Basel III a Solvency II. Praha: Ekopress, 2015, 515 s. ISBN 978-80-87865-24-8.
• DVOŘÁK, Michal. International investing and market risk in practical examples. Praha: Oeconomica, 2018, 210 s. ISBN 978-80-245-2267-8.
• OCHRANA, František, Milan PŮČEK a Michal PLAČEK. Detecting and reducing corruption risk and fraud in the public sector. Praha: Karolinum Press, 2017, 134 s. ISBN 978-80-246-3589-7.

not specified
• Auditor. Praha: KAČR. ISSN 1210-9096.
• Interní auditor. Praha: ČIIA, ISSN 1213-8274.
• Moderní řízení. Praha: Economia, ISSN 0026-8720.

Teaching methods

Teaching full-time study consists of lectures. In the combined studies students are taught in the form of managed group consultations. The teaching will be a complemented theory with practical examples which enable students make an idea of the role of audit in business management. The participation will require some degree of preparedness of students following the curriculum to allow informed debate on the topics discussed. The minimum mandatory attendance is for the full-time students 75% and for the part-time students 50%. Students who fail to meet the mandatory scope of participation may be given additional study obligations that would demonstrate knowledge of the issues and the acquisition of competencies necessary for successful completion of a course.

Assessment methods

The course ends with an examination which precedes the granting of credit. The condition for granting credit is an active participation in seminars min 75 %. (The absence the student teacher may be stored develop additional essay.) Essay and papers by entering their presentations at the seminar. The exam consists of a written test, which is followed by an oral examination

Language of instruction

Czech

Teacher's information

Individuální studijní plán (ISP)
Pro studenty s ISP, kteří nesplní minimální povinnou účast na přednáškách, je povinné zpracování semestrální práce odevzdané/zaslané e-mailem vyučujícímu nejpozději v posledním týdnu výukového období. Text semestrální práce v rozsahu 10 NS musí splňovat metodické požadavky na závěrečné práce. Téma práce pro aktuální AR: Analýza rizik v moderním marketingu.

Dress Code
Dress Code na zkoušku: Business Casual.

Further comments (probably available only in Czech)

The course can also be completed outside the examination period.

• Enrolment Statistics (recent)
  
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