Innovative Approach in the Estimatology of Financial Institutions Economic Security: Possibilities of Use in Management and Regulatory Activity Within the Means of Provision of the State Financial Security

Abstract

Ukraine’s integration into the European economic space requires the conformity of many segments of the domestic economic system to the standards, norms and traditions of the EU. The financial market and its participants form the financial basis for economic development, mediate the capital movement, make it possible to form a powerful investment resource and provide financial cooperation at the supranational level. However, domestic financial services markets are now destabilized; the volumes of assets used by their professional participants are significantly lower than the financial potential of the financial institutions of the European Union markets, to the convergence with which the Ukrainian financial sector terribly seeks. In addition to the capacity dimension, a large number of destabilizing factors that have been contributing to its development in recent years remain a problematic aspect of the domestic financial market evolution. The purpose of this study is to develop an innovative approach to assessing the level of financial institutions’ economic security, as well as substantiate its use in a management activity of company management to ensure a high level of profitability and in the regulatory activity of state authorities in order to guarantee the financial security of the state. Methodology. The methods of research will be: methods of induction and deduction, scientific abstraction and generalization, a method of organizing, expert method, graphical method for the identification of intermediate and final results of the study, as well as a generalization method for formulating conclusions and proposals at the end of the conducted scientific research. Results of the survey. The author’s methodical approach to assessing the level of financial institutions economic security is offered. The possibility of using the results of assessing the level of financial institutions economic security by the top management of professional participants in the financial market has been established. The directions of its application by the national regulators of the financial market for the purpose of ensuring the financial security of the state through the mechanism of monitoring and control of the results of activities of financial intermediaries are determined. Practical implications. The proposed innovative approach in the estimatology of financial institutions economic security should be used by the state regulators of the financial market, in particular, by the National Bank of Ukraine and the National Commission, which performs state regulation in the field of financial services markets, to monitor the activities of professional financial market participants in order to conduct advisory and consultative work with their owners and managers, as well as for the development of strategic guidelines for the provision of the state financial security. Value/originality. Methodological approaches to assessing the economic security level of financial institutions in the process of managing their activities should be the basis of documentary support for security management of the system of economic security, and their reuse after the introduction or modernization of the mechanism of economic security system management of financial institutions will allow diagnosing the level of its effectiveness and, if necessary, to change the target guidelines for managing the economic security system to ensure maximum levels of the protection for the economic interests of companies and their clients from threats, as well as to ensure a high level of financial security of the state.

Management of Economic Security in the High-Tech Sector in the Context of Post-Pandemic Modernization

“…At the first stage, the choice of experts is proposed to be carried out according to the criterion that determines the level of the expert's competence (Zachosova, 2019). An expert must meet a number of requirements: a high level of general erudition; deep specialized knowledge in the assessed area; the ability to adequately reflect the predicted object, the presence of a technological orientation for the future, the presence of scientific interest in the subject being assessed, the absence of personal interest in assessing the forecast; experience (production or research) in the analyzed area (at least 10 years).…”

Assessing Bank Financial Security Level Using the Comprehensive Index Technology

“…In addition, it is indirectly necessary to justify forming an expert group, to carry out agreeing expert views, etc. Among the methods of financial security modeling, of particular note is approach based on comprehensive assessment technology [15], [16], [17], [18], [19]. Assessment methods presented in these papers differ in the set of indicators, the rules for calculating the final result and the choice of weight coefficients of the composite index components.…”

“…An important problem in assessing the financial security level is the choice and justification of the scale, which allows you to identify this level. These issues are highlighted in [16], [18], [20], [21]. However, it should be noted that the author's proposals don't always sufficiently substantiate the number of financial security levels and the boundaries of these ones.…”

Economic Security Management of Financial Institutions as Objects of the State Critical Infrastructure

“…We have already paid attention to the study of fundamental issues of ensuring the economic security of financial institutions in previous studies (Zachosova, N. & Babina, N. & Zanora, V. (2018), Zachosova, N. (2019)). The issue of ensuring the proper functional condition of critical infrastructure facilities has also become known within the scientific community.…”