Smart About Risk  


Advanced Risk Management, s.r.o. was established in 1999 by Ing. Václav Novotný, an experienced risk management specialist.

Since its beginnings, the company has been cooperating with important financial and non-financial institutions and has provided them with a wide range of professional services and products. Advanced Risk Management, s.r.o. offers consulting, professional training and seminars in the area of risk management. The company further provides software solutions for financial risk management, cost calculations and project management.

Advanced Risk Management, s.r.o. anticipates new challenges faced by the economy and constantly extends the range of services it provides to its clients for their benefit and satisfaction.

Milestones in the history of Advanced Risk Management, s.r.o.:

1999: Foundation of the company
2000: Successful establishment of relationships and cooperation with educational institutions
2000: First consultancy contract: management strategy in the non-profit sector
2001: First risk management projects and creation of methodologies
2001: Beginning of CADCalc® Market software development
2002: Entry to the Slovak market
2003: Validation of the internal model of market risk management on the basis of VaR for Česká spořitelna, a.s. probably the first model of its type in any of the post-communist countries in Central Europe
2003: Organization of the first open seminar on Basel II
2004: Beginning of CADCalc® Credit software development
2004: Beginning of long-term cooperation with ČEZ, a.s.
2004: Beginning of long-term cooperation with Komerční bank, a.s. within the bank’s preparation for a transition to the advanced IRB approach to credit risk according to Basel II
2005: Implementation of CADCalc® Market software in Dexia bank Slovensko, a.s. 
2005: Beginning of cooperation with Národná banka Slovenska and Inštitút bankového vzdelávania
2006: Implementation of CADCalc® Credit software in Českomoravská záruční a rozvojová banka, a.s.
2006: First open seminar on Solvency II held in Prague
2007: Entry to the Slovenian market
2007: Validation of the estimation of risk parameters PD, LGD, EAD for Česká spořitelna, a.s.
2008: Development and implementation of Standard Costing software
2009: Steiner & Makovec implementation of SWORM® software for operational risk management
2010: First open seminar on Basel III held in Prague
2011: Creation of the functional specification for automation of COREP reporting for the bank SKB d.d.
2011: Realization of the implementation feasibility study of AMA approach for a major bank
2012: Cooperation on the development of methodology for self-assessment of operational risks for a major bank
2013: Creation of methodology for project risk management
2013: Creation of tool for validation of effectiveness of interest risk hedging for Hypoteční banka, a.s.
2014: The first big projects in the area of analyzing of large amounts of data for large non-financial organizations
2014: Expansion of offer of seminars about Project Risk Management and Fraud Risk Management
2015: Optimization of the Fântânele-Cogealac Wind farm for CEZ
2016: Implementation of CADCalc® Market software at Home Credit International a.s.
2016: Presenting services at the International Engineering Fair in Brno
2017: Development of the ECL Calculator for the calculation of impairments under IFRS 9
2017: Development of a pre-scoring model for client risk assessment
2017: Implementation of the 6th generation of the CADCalc® Market software
2018: Realization of a project for the identification of dependence of defective production on production conditions (Industry 4.0)2019
2018: Development of several scoring models for approval of clients applying for leasing
2019: Developing a rating model for large corporate counterparties for Ezpada, s.r.o.
2019: Cooperation on the development of non-retail rating model for SKB banka d.d. Ljubljana
2020: Implementation of CADCalc® Market software and additional functionalities for KB Penzijní společnost, a.s.
2020: Modelling of non-maturity deposits for SKB banka d.d. Ljubljana
2021: Assessment of fair value measurement methodologies and calculations (under IFRS 13)
2021: Launch of ESG-related services
2022: Expansion of the CADCalc® Market software to include the Future Fund Performance Simulation and Asset Liability Behavior Model modules
2022: Start of long-term collaboration on ESG risk management in multiple companies
2023: Collaboration on the development of methodologies for the back-testing of ECL parameters
2023: Expansion of ESG-related services to include ESG Risk Management: Executive Summary, GHG Emissions Measurement and Carbon Footprint Calculation, and ESG Risks and their Audit seminars
2023: Expansion of the CADCalc® Market software to include the DISIFE23 regulatory report: Banks’ reporting about interest rate risk


References to the realized projects can be found here.