It stands for non-financial risk; all of the risks which are not part of the broad universe of financial risks (mainly, market risk, credit risk and liquidity risk) in an entity. Non-financial risks do not relate directly to the financial performance or prospect of a business. Examples of non-financial risks (NFRs) are the risks arising from cyber-attacks, compliance breaches, environmental impact (negative), and so on. Risks (operational risks) associated with operational activities may also be considered part of the universe of non-financial risks.

In another context, NFR may also denote not for resale.