Abstract: THE ROLE OF FINANCIAL MANAGEMENT IN RISK ASSESSMENT AND MITIGATION
This research investigates the role of financial management in risk assessment and mitigation. Objectives include evaluating effective risk assessment practices, identifying key financial management strategies for risk mitigation, and assessing their impact on organizational resilience. A survey research design is employed to gather data from financial managers in various industries. Using Taro Yamane's formula, a sample size of 300 firms in Lagos, Nigeria, was chosen. The reliability coefficient score of the survey instrument is 0.87. Findings indicate that robust financial risk assessment and mitigation practices significantly enhance organizational resilience, with key strategies including risk identification, assessment, and mitigation planning. Recommendations include adopting comprehensive risk management frameworks and continuous risk monitoring to enhance organizational stability.
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