Інтеграція ризик-орієнтованого підходу до управління інвестиціями банку в умовах ринкової волатильності

In the current context of heightened financial market volatility and growing instability of the investment environment, the issue of enhancing the efficiency of bank investment management has become increasingly critical. A limited consideration of risk in decision-making undermines the objectivity of asset return assessments and complicates the development of an optimal portfolio structure. This research aims to develop a scientifically grounded methodology for improving the efficiency of banking investment activity through an integrated assessment of risk–return trade-offs in the process of portfolio formation and optimization. The study applies a structural-functional approach, economic-mathematical modeling, sensitivity analysis, and standardization of risk and return indicators. The proposed model is tested using a case study of a reference bank, with a focus on asset substitution strategies and partial diversification effects. A model for assessing the effectiveness of securities has been developed, based on the relationship between dividend yield and the risk compensation rate. Its practical applicability has been confirmed through objective financial instrument ranking. Implementation of the model led to a reduction in the compensation rate from 6.95 to 5.66 % and an increase in overall portfolio efficiency from 66.3 to 91.2 %. Even partial diversification demonstrated a positive impact on portfolio characteristics by reducing risk. A strong correlation between market risk, the value of the «β» coefficient, and the efficiency of financial instruments has been identified. The findings emphasize the importance of integrating formalized risk indicators into investment analysis and decision-making in the banking sector. The methodological novelty lies in the standardization of parameters, enabling a comparative evaluation of assets with diverse characteristics. Future research should focus on adapting the proposed model to conditions of increasing financial volatility, integrating ESG risks, and extending its application to other asset classes.