FINANCIAL SECURITY OF A BANKING INSTITUTION IN MARKET CONDITIONS

Abstract

The article is devoted to the study of financial security, which in turn is one of the most important problems that banking institutions are trying to overcome. It has been proven that even sophisticated software that protects previous data cannot completely protect accounts from fraudsters, phishing, hacking attacks, etc. It has been studied that the assessment of the financial security of a banking institution is an important part of financial management and strategic planning. The finance and insurance sector has emerged as a major target for threats to financial security in both 2022 and 2023. It was determined that despite the presence of a strong scientific base, due to constant changes in the economy, the study of financial security remains an urgent task and needs to be solved by scientists. Also, unsolved issues that are part of the problem are obtaining reliable information for research. It was established that in order to effectively ensure the system of financial security of banking institutions, it is necessary to use systematic and complex approaches. A systematic approach to ensure the financial security of banking institutions is used to develop an appropriate system for ensuring the financial security of banking institutions, and a comprehensive approach involves the development of a set of organizational and economic measures to ensure the stable functioning of banking institutions, to achieve an appropriate level of financial security, provided that external and internal threats are eliminated. It is proved that the system of ensuring financial security of banking institutions is a service environment for the organizational and economic mechanism of ensuring financial security of banking institutions. In turn, the structural elements of the organizational and economic mechanism for ensuring the financial security of banking institutions are the components of the financial security management software and the components of the implementation of the financial security management of banking institutions. Thus, in the course of the study, it was found that the components of the financial security management software of banking institutions are normative, informational, methodical, analytical, and technical and technological support. In my opinion, the components of the implementation of the financial security management of banking institutions are the tools for ensuring the financial security of banking institutions, functional and process-organizational mechanisms for ensuring the financial security of banking institutions.