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"it is at risk" is both correct and usable in written English.
You can use it to describe a situation when something is vulnerable to danger or loss. For example: "The company's financial stability is at risk due to the economic downturn."
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China slapped a ban on it, Bank of America said it is "at risk of running ahead of its fundamentals" claiming it has little short-term upside, and Alan Greenspan laughed at it.
Any company that isn't proactively addressing its gender story, stats and plans, and equipping its CEO to tell it, is at risk of a nasty news story hijacking its reputation and brand – even after years of legitimate efforts.
Williams is an exception — so why has its deputy boss said that it is at risk of closing within a matter of years?
At present it is at risk of overshooting its target of a 6% cut by around 30%.
The ongoing court proceedings are providing a front-row view into what happens to a proud institution while it is at risk of losing its mojo.
In its February 10-K report, Facebook said that it is at risk of losing young users to other services that are similar to or act "as a substitute for Facebook".
An ETF needs perhaps $40 million in assets to cover its overhead; if it never clears that bar it is at risk of being liquidated, as has happened to at least 850 exchange-traded funds and exchange-traded notes.
But the Google name is now so widely used that it is at risk of becoming generic and losing all its brand power.
But it is at risk.
Now, it is at risk again.
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Since I tried Ludwig back in 2017, I have been constantly using it in both editing and translation. Ever since, I suggest it to my translators at ProSciEditing.

Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com