The article analyzes modern approaches to improving the risk management system in commercial banks of Uzbekistan. It provides specific statistical data on commercial banks for the period of 2022–2025. Definitions are given for credit, market, operational, liquidity, reputational, and compliance risks encountered in banking activities and practices, along with proposed measures to prevent these risks in the Uzbekistan market. In this regard, methods for risk reduction are suggested through the implementation of artificial intelligence and machine learning technologies, as well as integrated solutions that encompass international standards, technological innovations, and the development of human capital to enhance the financial stability of banks.

This article discusses the important role of managing operational risks in the banking sector, with a detailed analysis of this issue in the context of commercial banks in Uzbekistan. Significant changes are being observed in the countryʼs banking system, and managing operational risks is becoming an integral part of ensuring financial stability. The article delves deeply into the organizational and methodological challenges banks face in their risk management processes. The insights and recommendations presented in the article are hoped to serve as a foundation for future research and for developing strategies to manage operational risks in the local banking sector.