Analysing the Impact of Risk Management Practices on Firm Performance

Abstract: This paper explores how risk management practices influence firm performance, focusing on industries like banking and insurance where risk plays a central role. By examining risk frameworks, governance models, and real company examples, it shows that organizations with strong, integrated risk management tend to perform better financially and operate more resiliently. The study highlights key strategies for embedding risk culture and analytics into business operations, helping firms navigate uncertainty and create sustainable value.