Banking risk management as an element of strategic development

Abstract

The research problem is driven by the need to enhance the stability of the banking system amidst increasing external and internal threats associated with globalization, changes in the regulatory environment, and the emergence of new technological challenges. Methodology. The methodological foundation of the research relies on systemic and comprehensive approaches to analyzing banking risks, enabling the consideration of risk management as an integral element of credit institutions' strategic development. The methodology encompasses a set of general scientific and specialized methods that ensure a thorough study of the nature of banking risks, the mechanisms of their occurrence, and the tools for their management. Regulatory documents of the Central Bank of the Russian Federation, publications by domestic and foreign authors, and specialized literature on the theory and practice of risk management were utilized. Historical, empirical, and categorical-conceptual approaches were applied, allowing for an in-depth study of the banking risk management problem and the proposal of recommendations for improving the risk management system in the interest of banks' strategic development. Results. The research has developed directions for banking risk management that consider the interconnectedness of various types of risks (credit, market, operational, and others). Key components of an effective risk management system have been identified, including risk identification, assessment, monitoring, and control. Special attention is paid to building internal risk management systems at the level of individual banks, as well as the possibilities of harmonizing them with national standards. A conceptual model for integrating banking risk management into the strategic development of a credit institution has been developed, including an author's risk classification, a scenario forecasting methodology for their impact on strategic goals, and adaptive risk management tools that ensure the bank's stability and competitiveness in the context of digitalization and macroeconomic turbulence. Practical Application. The research findings can be utilized by bank executives of various scales and profiles, risk management department specialists, as well as representatives of the Central Bank and relevant ministries responsible for developing regulatory frameworks and risk management standards. The recommendations are relevant for formulating anti-crisis measures, developing strategic development plans, and preparing internal bank regulations.