Formation of a strategic control system in financial institutions

Обушний, Сергій Миколайович and Яковенко, Ігор Валентинович (2026) Formation of a strategic control system in financial institutions Європейський науковий журнал Економічних та Фінансових інновацій, 19 (1). pp. 209-217. ISSN 2617-8648

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Abstract

The article examines the theoretical and applied aspects of forming a strategic control system in financial institutions under conditions of increasing market instability, intensified regulatory pressure, and the need to adapt Ukraine’s financial sector to European Union standards. The relevance of the topic is driven by the fact that existing internal control mechanisms are often fragmented and focused on operational processes, neglecting the monitoring of long-term strategic goal achievement. The aim of the work is to substantiate conceptual approaches to strategic control and develop applied tools for its implementation in insurance companies. The methodological basis of the study includes methods of system analysis (for developing the strategic control matrix), comparison (for comparing planned and actual indicators), and case study. The paper proves that strategic control, unlike operational control, should focus on the external environment, long-term trends (minimum 3–5 years), and timely strategy adjustment, rather than solely on identifying violations. The scientific novelty of the research lies in the development of a unified strategic control matrix, which structures control procedures across seven key areas: sales volumes, network development, financial stability, risk management, client service, compliance, and strategic marketing. The proposed approach allows for a comprehensive assessment of management decision efficiency. Practical testing of the tools was carried out using the example of the insurance company PrJSC “UPSK”. The analysis of the 2024 strategic plan implementation using the developed matrix revealed 17 deviations, including: failure to meet the plan for opening new branches, 44 client complaints, and cases of internal documents non-compliance with regulatory requirements. The identified deviations served as a basis not for administrative penalties, but for revising strategic goals and optimizing business processes. The research results confirm that an effective strategic control system is a critical factor in ensuring financial stability, competitiveness, and sustainable development of financial institutions in a dynamic environment.

Item Type:	Article
Uncontrolled Keywords:	strategic control; insurance company; financial management; control matrix; efficiency; risk management; compliance; strategic planning; sustainable development
Subjects:	Статті у періодичних виданнях > Фахові (входять до переліку фахових, затверджений МОН)
Divisions:	Факультет економіки та управління > Кафедра управління Факультет економіки та управління > Кафедра фінансів
Depositing User:	Сергій Миколайович Обушний
Date Deposited:	11 Feb 2026 13:32
Last Modified:	11 Feb 2026 13:32
URI:	https://elibrary.kubg.edu.ua/id/eprint/56384

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