Introduction. Accelerated pace of development of society contributes to the accelerated generation of social risks, modern society is characterized by constant technological, natural, economic, environmental, socio-cultural changes. Therefore, minimizing social risks and leveling their consequences is of paramount importance. Methods. Diagnosis of the state of the social risk management system combined the principles of systemic, structural-functional and targeted analysis, which provided a comprehensive assessment of the whole and individual components. Results. The analysis of expenditures on the social sphere showed their stable absolute growth despite the dynamic reduction of their share in the budget. Social risks are largely due to the non-transparency of the mechanism for regulating the supply and demand of labor in the domestic labor market. A significant share of macroeconomic social risks is related to the problems of social infrastructure, which is financed from the budget. Problems with access to health care, the opacity of the pharmaceutical market, the degradation of the health care network, chronic underfunding, and the lack of health insurance also generate social risks. The task of state policy should be to prevent and prevent social risks, identify social conflicts that lead to destructive consequences. Systematization of social risks allows to methodologically substantiate the mechanisms of social risk management, to modernize the models of social protection of the population, to develop effective tools for ensuring public management of social risks. Discussion. The impossibility of reducing funding for social needs without deteriorating the quality of life and social protection of the population requires further search for alternative sources of funding for socio-cultural expenditures, rationalization in the budget structure to effectively combat the development of social risks. Keywords: social policy, social risks, social transfers, household expenditures, labor market, health care.