The residents of informal settlements face a diverse range of urban risks, from climate and economic shocks to local pollution and the threat of eviction. This article explores these risks by conducting Participatory Hazard Vulnerability and Capacity Assessments (PHVCA) in three informal settlements in the Cambodian capital of Phnom Penh. The assessment uncovers a variety of risks, which interact with each other and local vulnerabilities to produce complex risk profiles for residents.