Abstract:

For optimal financial stability, regulatory compliance, and operational resilience, commercial banks must manage risks effectively. This research looks at risk management practices in commercial banking, with a particular emphasis on Guyana, drawing on Enterprise Risk Management (ERM) framework, Contingency Theory, Institutional Theory, and the Resource-Based View (RBV) theory to build a construct on which the findings could be explored. A quantitative study design was employed to examine the effects of formal risk management training on banking personnel' views of risk effectiveness. The results show a significant connection between training and risk management efficacy, stressing the importance of ongoing professional development, specifically, in the discipline of risk management. The findings offer policymakers and banking institutions valuable insights into how to improve risk management techniques.

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