The subject of the research presented in this paper is risk management, with a special study of banking sector. Research goals include determining the degree of importance and influence of risk management of internal and external risks to a more favorable environment for business success of banks in strategic terms, in the long run. In this sense, the key results of the empirical research on the territory of Serbia in 2015 on a sample of 34 financial institutions, of which 26 were banks, has been provided . The results were processed by statistical and mathematical methods and confirmed the validity of the defined hypotheses, that the importance of effective risk management in banking is growing, as well as the reporting system. The contribution of this research is in a scientific assessment of the importance of various risks, determination of the dominant theoretical and empirical knowledge supporting wider further research in this area in the banking industry.

In most modern countries, the social democratic and liberal approaches prevail on the place of the public sector in state management and socioeconomic development, which significantly reduces the role of the public sector in production activities, so the public sector today largely encompasses social activities, i.e. socially upgrading production activities. Regardless of the ideological approach, the public sector is undeniably the most important factor of the state, on whose efficiency and effectiveness the degree of economic and legal environment as a basic prerequisite for the development of society and the development of social activities depends.

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limate change has been observed in South East Europe (SEE) through higher temperature, changing precipitation and run-off patterns, and extreme weather, leading to reported increasing incidence of weather-induced disasters in many countries of the region such as floods, droughts, wild fires, strong winds, heat and cold waves, etc. As part of climate change adaptation policies and investments, SEE countries have to focus on reduction of their vulnerability and planning measures to mitigate natural disaster risks. This paper presents the implications of climate change resulting in extreme weather and it analyzes the capabilities of Serbia and its business sector to mitigate and manage the impact of extreme events. The main results of desk and field research carried out in 2016 on disaster risk mitigation are given, as well as emergency preparedness and management and reporting practices in the country, manufacturing, finance and insurance enterprises to reduce the current and future vulnerabilities. The methods used are linear regression and statistical tools. Taking into account the projected impact of climate change for SEE and Serbia by the World Bank's studies, the reduction of the current and future vulnerabilities to climate change risk is very important. Since the aim of this paper is to highlight the importance of investing in risk management knowledge and practices of disaster risk monitoring in risk management policy, the research can contribute to the reduction of the weather-related disaster risks, losses and it can initiate necessary actions for climate change.