Financial Risk Management: Building Financial Readiness and Resilience in Facing Crisis and Economic Change in East Java

Financial risk management is a crucial foundation for the sustainability of organizations and households, particularly in East Java, which faces regional and global economic dynamics. This study aims to examine financial risk management strategies in building financial preparedness and resilience in the face of crises and economic change. Using a literature review and local case studies, the study found that financial risk mitigation strategies in East Java should focus on diversifying revenue sources, optimizing liquidity, implementing strong internal controls, and continuous risk monitoring. The study findings indicate that organizational leaders, MSMEs, and local governments play a crucial role in strengthening a culture of risk management. The study's conclusions emphasize the importance of a holistic and collaborative approach to building financial resilience, enabling East Java to be more adaptive in facing global economic challenges.