Adeniyi Adekoya has more than twenty years' experience in Financial and Non-Financial Institutions. In this research paper, he shares his knowledge in the field of Risk Management using Derivatives to reduce risks in both Financial and Non-Financial Institutions. Divided into six information filled sections, Risk Management and Derivatives have grown world-wide with many new and diverse products introduced in the financial markets on a yearly basis can effectively be used to reduce risk through hedging strategies. The research is structured as follows: Section 1 provides background information and overview of the research topic. Section 2 explores and reviews past 'peppered' scholarships-theoretical and empirical studies. Section 3 deals with research methodology with the underlying assumptions used for this research. Section 4 presents data analysis and research findings and does some comparative analysis based on the research questions. Section 5 summaries the main findings, any implications for the study and draw some conclusions including making some recommendations for future research. Section 6 presents the researcher learning engagement and self-reflection during the study.