This article conceptualizes modern approaches to the transformation of the social function of the state in the context of the influence of globalization processes, the ambiguity of the formation of the socio-cultural context, the actualization of the latest risks and threats associated with the spread of the COVID-19 pandemic. We accentuate the inconsistencies and contradictions between the declared social priorities and the inefficiency of the management mechanisms of their practical implementation. The article substantiates the priority directions of the regulatory role of the state in the context of social risk management, formation of social security, adherence to the principle of social justice, and harmonization of interests of representatives of various social groups. Key words: public administration, state, social functions, governance mechanisms, globalization, social risks, COVID-19 pandemic, social justice.