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Sustainable Development Goals (SDGs) have outlined the need for sustainability in organizational management. Therefore, the aspect of risk management in the organization will not run away from issues and problems. This article discusses the implementation of risk management issues towards the sustainability of higher education institutions in Malaysia. In order to implement it four aspects namely organizational performance, financial implications, human resource management and strategic planning need to be emphasized. Thus, this study aims to review the issue of organizational risk management implementation from the perspective of higher education institutions in Malaysia. The study was carried out quantitatively by highlighting classic and contemporary library data as well as reports related to risk management and organizational management in Higher Education Institutions in Malaysia. In addition, this article also discusses the challenges that higher education institutions have to face in the implementation of good risk management practices and not be affected so as to have a negative impact on the organization. Overall, this article serves as a basis for relevant parties especially in implementing good risk management practices for the sake of organizational sustainability and the benefit of higher education institutions in Malaysia.