The Effectiveness of Risk Management Strategies on Improving Financial Performance of ZSE Listed Commercial Banks

Anthony Tapiwa Mazikana. and Shepard Makurumidze
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Anthony Tapiwa Mazikana.: University of Zimbabwe, Department of Business Management and Economics
Shepard Makurumidze: Lecturer, Department of Finance and Accounting, University of Zimbabwe, MP 167, Zimbabwe

International Journal of Research and Scientific Innovation, 2024, vol. 11, issue 8, 967-980

Abstract: This study was aimed at examining the effectiveness of risk management strategies of improving financial performance of ZSE listed commercial banks. This study was guided by objectives such as to determine how risk identification strategies affects financial performance of ZSE listed banks, to explore the critical risks faced by ZSE listed banks and classify them into different categories and to assess the current risk management strategies employed in the banking sector. In this study a mixed research approach has been employed, as it gives participants a degree of freedom and permits spontaneity rather than forcing participants to select from a set of pre-determined responses. In this study the researcher utilized pragmatism research philosophy. A cross-sectional study was more suitable option for practical reasons, particularly when the researcher could not only access data collected at a certain moment in time to address research inquiries. The study will use the targeted population 1500 respondents taken from CBZ and Stewart bank. In this study the researcher utilized Yaro Yamane sampling method to determine quantitative sample size of 315 respondents. The researcher also used principal of saturation method to determine a sample of 20 respondents for interviews. Since this study adopted both qualitative and quantitative strategies the researcher adopted convenience sampling to cater for quantitative aspect and purposive sampling to cater for qualitative aspect. The study established that most banking organizations makes use of a number of different models, including risk identification, qualitative risk analysis, quantitative risk assessment, risk response planning, risk response planning, and risk monitoring and control. It was established that a risk management group be established, the main responsibility of which is to facilitate and coordinate the overall risk management process.

Date: 2024
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