Risk governance is a multidisciplinary academic concept and structured methodological approach concerned with the oversight, direction, and integration of processes for identifying, assessing, managing, and communicating risks within organizations or complex systems. It investigates the frameworks, policies, procedures, and responsibilities that align risk management activities with strategic objectives, regulatory requirements, and ethical considerations. Key characteristics include its integrated nature, linking governance, risk management, and compliance; its emphasis on proactive strategies; and its focus on establishing clear responsibilities and accountability for risk across different levels. Its significance lies in enabling informed, strategic decision-making, ensuring resilience, promoting compliance, and contributing to sustainable value creation and organizational stability.