Browsing by Author "Damena, Sinshaw"

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    Assessment of Enterprise Risk Management Practice; the Case of Ethiopian Insurance Corporation
    (Addis Ababa University, 2020-06) Damena, Sinshaw; Mekonnen, Worku (PhD)
    The objective of this study is to assess how good enterprise risk management practice is properly implemented in EIC and provide possible recommendations for the problems identified. To collect the required data, the study has used primary data collected from management and non-management members of the corporation using structured questionnaire. Moreover, the study has used different related literatures to analyze the findings. To make the study effective and complete, study has used convinient and expert sampling methods. With these techniques 97 management and 64 non-management members were taken as sample. The study also has used descriptive method of data analysis. Accordingly, the study identified that there are some efforts taken by corporation to strengthen its risk management practice. These include high commitment and support from CEO and risk management director. However, the study also recognized that there are limitations on commitment and support of Board and top management members other than the above, lack of integration of ERM to strategy and PMS of the corporation, inadequate risk management process implementation and generally, lack of common understand of ERM in the corporation. Finally, the study has concluded that the extent of ERM practice of EIC is at moderate level. Based on conclusions drawn, some key recommendations are forwarded by the study. These includes that appropriate and extensive ERM training must be regularly given to all Board, top management and other cornered management and non-management members, during strategy formulation ERM must be integration with strategy and PMS of the corporation and adoption of international best practice of ERM framework to increase the effectiveness of ERM practice