Essence, types and reasons of financial risks

The article discusses the essence of financial risks, types and causes of their occurrence. The concept of «risk» is defined as an activity related to situations of forced choice in conditions of uncertainty. The authors pay special attention to the consideration of various points of view of researchers on the problems of studying financial risks. The systematization of financial risks has been carried out and their main characteristics have been studied. It was revealed that in market conditions the business of enterprises is exposed to financial threats. The authors of the article show that financial risks have a significant impact on the occurrence of losses of the organization and shortfall in income. From the point of view of financial risk management, the stages of the company’s life cycle are an important criterion that allows you to identify and assess the magnitude of these risks. In the overall structure of the organization’s risks, financial risks play a significant role. In order to ensure the competitiveness of the company, it is important to build a financial risk management system, built into the general management process of the company, adapted to the specifics of the activity and industry characteristics of the organization. Building a financial risk management system makes it possible, on the basis of studying the nature and factors of the formation of threats, to develop a set of measures aimed at managing financial risks, to identify the existing reserves of the enterprise, to increase the efficiency of management decisions made in conditions of risk and uncertainty.