The rapid development of the modern market economy has led to a significant increase in the competitive pressure and intensity of enterprises in multiple industries. At this point, if a company wants to maintain a good development trend in the market, it needs to strengthen its risk and financial management, and at the same time, sufficient attention should be paid to the effectiveness of enterprise management. In market competition, financial risk usually comes from two sources. Firstly, it comes from normal external market competition behavior, which may cause fluctuations in the operating conditions of the enterprise, thereby directly affecting the financial situation of the enterprise. In addition, there are some risk factors caused by internal problems within the enterprise, mainly including abnormal decision-making or problems in the management process, which can directly affect the financial situation of the enterprise. At the same time, the effectiveness of management in the business process is a key factor affecting the operational efficiency of the enterprise. The improvement or reduction of the effectiveness of enterprise management directly affects the work enthusiasm of employees. This article analyzes the factors that affect the financial risk management and effectiveness of enterprises, and analyzes the factors that can affect the financial situation in modern market competition. Through this analysis, it helps enterprises improve their financial risk management models. At the same time, it also explores how to improve the effectiveness of enterprise management, and this exploration identifies the shortcomings through in-depth analysis of the existing management models of the enterprise. In the end, this article identified a model that can enhance financial risk management and management effectiveness. Through experiments, the effectiveness of financial risk management and the degree of improvement in enterprise management effectiveness of multiple types of enterprises under this model were analyzed. It was determined that the competitiveness and performance of enterprises using this model in various aspects increased by an average of about 19.6% compared to unused enterprises. This model further enhances the financial risk analysis and tolerance of enterprises by integrating various information technologies in the new era into their operation and management, and also improves the effectiveness of enterprise management.