The purpose of the research - is to study the theoretical, methodological and practical issues of financial risk management and develop scientifically sound proposals and recommendations to improve the financial risk management cycle based on a comprehensive analysis of factors affecting the level of financial risks. To achieve this goal, the following tasks were set and solved in the study:

- to study conceptual theoretical approaches to the organization of financial risk management;

- research of risk identification methods;

- to develop proposals and recommendations on improving the mechanism of neutralization of financial risks;

- to develop an effective financial risk management system.

The methodology of the research - the research process used a systematic approach, generalization and comparison, analysis and synthesis, grouping, determination of nominal and final risks.

The practical importance of the research - is that the developed provisions, recommendations and results can be used by governing bodies, as well as enterprises of market structures as a practical tool for minimizing financial risks in shaping the socio-economic and regional development of the country.

The results of the research - development of substantiated proposals and recommendations for improving the financial risk management mechanism.  

The originality and scientific novelty of the research:

- modern approaches to financial risk disclosure are generalized, elements of financial risk management system are revealed;

- theoretical and methodological aspects of methods of substantiation of management decisions in risk conditions are defined;

- the effectiveness of methods for assessing and managing different types of financial risks has been studied and substantiated;

- proposals and recommendations on improving the mechanisms of neutralization of financial risks have been developed;

- An effective financial risk management system has been developed.

Keywords: financial risk, diversification, limitation, risk insurance, risk avoidance, risk control organization.