Leadership implies a specific pattern of behaviour intended for leaders, with the aim of implementing a successful action and influence on a group of people, in order to achieve a certain vision. This master thesis is focused on the examination of various components and aspects regarding leadership and their importance in risk management context. Namely, the thesis will examine and explain in detail the numerous ways in which effective leadership shapes the results of risk management within the organization. Successful leadership can significantly improve the results of risk management through timely identification of risks, correct assessment of various risks and effective action in accordance with the given circumstances. Effective leadership includes the possession of certain characteristics, the disposal of numerous skills and the application of different styles, by which the leader shapes the end result of risk management. The further course of this master thesis includes the analysis of leadership communication, leadership ethics and decision-making, which represent the key aspects of leadership within the context of risk management. Considering the importance of clear transmission of information related to certain risks, the leadership communication, which has a significant impact on risk management within organizations, is particularly noteworthy. Namely, establishing a successful communication enables leaders to gather a team around a common vision, empower employees, build trust, and then achieve the desired result of risk management.