Strategic recommendations for ensuring the financial security of an organization (using the example of JSC “Rosselkhozbank”)

The research is devoted to an urgent problem concerning ways to improve the financial security of organizations. The sustainability of its development, the stability of its results and the prospects for its growth depend on how competently each organization assesses its threats and risks, flexibly reacts to external and internal changes, timely prevents and (or) minimizes damage from the implementation of negative events. All this affects the level of financial security of any business entity. Anyway, each organization attracts funds to create, exist, and further expand its activities. In this regard, the need for a comprehensive analysis and assessment of the financial stability of commercial banks, effective management of financial resources and cash flows, identification of vulnerabilities and ways to improve the financial security of banks is of particular importance. The purpose of the article is to develop strategic recommendations for improving the financial security of commercial banks (using the example of JSC «Rosselkhozbank»). To achieve this goal, the following tasks were solved: assessment of the financial security level of JSC «Rosselkhozbank»; identification of challenges, threats and risks to the financial security of JSC «Rosselkhozbank»; development and evaluation of the effectiveness of strategic measures to ensure the financial security of JSC «Rosselkhozbank». The results of the research suggest that the introduction of an automatic decision-making system for customer requests for credit products in a commercial bank, according to preliminary estimates and forecasts, will reduce payroll costs, significantly reduce the time needed to make a decision on an application, increase the conversion rate to a loan product, and reduce the proportion of overdue debt. The above results, individually and collectively, will improve the level of financial stability and, consequently, the level of financial security of a commercial bank. The results obtained during the research can be used by financial analysts, banking agents, representatives of credit institutions, as well as scientific researchers in the financial sector of the economy.