落實風險管理為公司治理與透明化過程之重要指標－2008年金融風暴之發生再度引起國內外對風險管理之重視，此也顯示風險管理並無真正落實；為達成此目標，企業風險管理之推動為關鍵因素，此部分除依賴監理機關制定規範要求保險業實行外，獨立第三者之信用評等機制亦扮演重要訊息提供之角色，藉由其對企業風險管理發展出之評鑑標準，及其對眾多受評公司進行評等的過程及瞭解，可提供保險業建置與落實企業風險管理之方向及做法。 保險業主要信用評等機構對企業風險管理的評鑑標準不同，本研究找出最佳信用評等機構之評鑑項目－風險管理文化、風險控管程序、新興風險管理、風險及經濟資本模型、策略性風險管理，及相關之評鑑標準；另藉由信用評等機構對保險業企業風險管理之調查分析，瞭解國內保險業者目前所面臨之關鍵問題：(1)大部分仍停留在傳統風險管理階段；(2)風險胃納、風險容忍度及風險限額定義及關聯不明瞭；(3)經濟資本及風險調整後報酬量化能力不足。 歸納本研究結果，(1)藉信評機制對企業風險管理之評鑑項目及標準，可為國內保險業建置企業風險管理之參考依據；(2)從信評機構對企業風險管理之評等，可瞭解國內保險業之執行成果及問題，具有值得參考之價值。本文亦提出風險管理文化、風險及經濟資本模型相關之建議，以落實企業風險管理。 / To truly implement risk management is the important indicator of corporate governance and transparency progresses－the finanacial crisis in 2008 has resulted in the focus of risk management again, of which the implications have presented it hadn’t been done well. The Enterprise Risk Management (ERM) is the key factor to achieve the objective of truly implemented. In addition to the supervisors imposing those regulations so as to request execuation by insurance industy, the independent third party－rating agencies have provided valuable information. By way of the ERM indicators developed by rating agencies, together with the experiences and understandings getting from rating procedures, they can give the ERM directions and practises to insurance industry. The major rating agencies for insurance industry have different views to ERM critirias. The thesis has found out the best items and their relative indicators developed by rating agency－Risk Management Culture, Risk Control Processes, Emerging Risk Management, Risk & Economic Capital Models, and Strategic Risk Management. Moreover, the thesis has explored the key issues faced by domestic insurance industry through the ERM surveys conducted by rating agencies: (1)the majority of insurers have still positioned at the stage of traditional risk management; (2)the understanding to definitions and relatives of risk appetite, risk tolerance and risk limit are inambigious; (3)the quantibility of economic capitals and risk-adjusted returns aren’t appropriate. The thesis has concluded: (1)the ERM items and critirias developed by rating agencies can be the references to establish their own ERM by domestic insurance industy; (2)they are valuable references to know the situations of implementation and issues faced by domestic insurance industry through the ERM rating items and critirias. In the end, the thesis has submited the suggestions within risk management culture and risk & economic capital models in oder to truly implement ERM.

近年來商業銀行在巴塞爾協定架構下，相關風險管理理論和風險管理架構逐漸完善，然而自1990年代陸續發生幾起重大金融危機案件，如霸菱銀行、大和銀行倒閉等，使國際社會重新思考建立一個新的、更為健全的風險管理架構。 整合性風險管理起源於大型企業無預警倒閉以及衍生性金融商品盛行，風險面臨多樣化與複雜化，由於整合性風險管理是將全機構所面臨的風險使用統一方法進行計量統計，將風險總量控制在自有資本等經營能力範圍內進行管理的方法，因此具有綜合性、全方位及全員性的風險管理特徵。此外由於新巴塞爾資本協定已要求金融機構將業務面臨的風險納入資本計提範圍，整合性風險管理的風險管理方法，可以使金融機構的業務在多元化、複雜化的環境中，確保經營穩定，以及利用有限資本，提高經營效率和收益，已在大型金融機構中快速普及。 本研究結果發現：建立整合性風險管理為銀行業風險管理的發展方向；整合性風險管理架構是新巴塞爾資本協定的基礎；整合性風險管理有賴董事會的支持；良好的內部控制與資訊流程是實行整合風險管理的基礎。準此，本研究提出建議為：我國金融機構應儘速建立整合性風險管理機制；整合性風險管理應以良好的內部控制制度，作為建置作業風險管理的基礎；建立完善的整合風險管理機制必需有完整的配套措施，例如由上而下的風險管理文化、強化風險管理專業人才、以及加強風險管理資訊系統，均將有助於整體IRM機制順利運作。

More than one billion people, almost one in six of the world's population, are now using GSM mobile phones. The situation in South Africa is no different from that in the rest of the world. The rise of mobile telephone usage in South Africa has been driven by a combination of factors such as demand, sector reform, the licensing of new competition, and the emergence of major strategic investors, such as Vodacom and MTN. It was estimated that by March 2005 there should be approximately 20 million cellular customers in South Africa. The growth in the South African cellular market is proportionate to the potential risks in an environment where organisations are continuously seeking ways of improving efficiency, cutting costs, and staying abreast of technological advances. Elements of risk control such as Safety, Health, and Environmental Management can no longer be left out of the equation while organisations in the GSM industry are considering increasing their networks to meet the demands of growth. Although risk assessments are not specifically defined in the Occupational Health and Safety Act (85 of 1993); Section 8 does, however, stipulate under the general duties of the employer that the employer must establish, as far as is reasonably practicable, which hazards to the health or safety of persons are attached to any work which is performed. This situation has changed with the promulgation of the Construction Regulations, GNR.1010 on 18 July 2003; which state that every contractor performing construction work shall, before the commencement of any construction work and during construction work, cause a risk assessment to be performed by a competent person appointed in writing, and that the risk assessment shall form part of the health and safety plan to be applied on the site. This requirement under the Construction Regulations will have a major impact on organisations in the GSM industry. Integrated Health, Safety and Environmental risk assessments have now become a prerequisite before considering any further expansion of the GSM network in South Africa. The relationship between the operational risk sub-disciplines of health, safety, and environmental management, as part of the risk-management function, has been established, and an operational risk-assessment model for the Global Systems Mobile Telecommunications industry in South Africa that measures occupational health, safety, and environmental management risks on an integrated basis has been developed. The risk assessment model for the South African GSM industry is based on assessing the frequency of an activity in relation to the impact on the organisation's business processes, incident/accident potential, financial impact, legal status, and the nature of ecological impact. / Business Management / D. Com. (Business Management)

More than one billion people, almost one in six of the world's population, are now using GSM mobile phones. The situation in South Africa is no different from that in the rest of the world. The rise of mobile telephone usage in South Africa has been driven by a combination of factors such as demand, sector reform, the licensing of new competition, and the emergence of major strategic investors, such as Vodacom and MTN. It was estimated that by March 2005 there should be approximately 20 million cellular customers in South Africa. The growth in the South African cellular market is proportionate to the potential risks in an environment where organisations are continuously seeking ways of improving efficiency, cutting costs, and staying abreast of technological advances. Elements of risk control such as Safety, Health, and Environmental Management can no longer be left out of the equation while organisations in the GSM industry are considering increasing their networks to meet the demands of growth. Although risk assessments are not specifically defined in the Occupational Health and Safety Act (85 of 1993); Section 8 does, however, stipulate under the general duties of the employer that the employer must establish, as far as is reasonably practicable, which hazards to the health or safety of persons are attached to any work which is performed. This situation has changed with the promulgation of the Construction Regulations, GNR.1010 on 18 July 2003; which state that every contractor performing construction work shall, before the commencement of any construction work and during construction work, cause a risk assessment to be performed by a competent person appointed in writing, and that the risk assessment shall form part of the health and safety plan to be applied on the site. This requirement under the Construction Regulations will have a major impact on organisations in the GSM industry. Integrated Health, Safety and Environmental risk assessments have now become a prerequisite before considering any further expansion of the GSM network in South Africa. The relationship between the operational risk sub-disciplines of health, safety, and environmental management, as part of the risk-management function, has been established, and an operational risk-assessment model for the Global Systems Mobile Telecommunications industry in South Africa that measures occupational health, safety, and environmental management risks on an integrated basis has been developed. The risk assessment model for the South African GSM industry is based on assessing the frequency of an activity in relation to the impact on the organisation's business processes, incident/accident potential, financial impact, legal status, and the nature of ecological impact. / Business Management / D. Com. (Business Management)