Operational risk management in financial services

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Since 2002, we have been an ever-expanding global community, sharing knowledge, expertise and experience. Become an ORX member today for access to global loss data, high-quality research, events and much more...

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ORX News

Get valuable insights from publicly-reported loss events at your fingertips. Used by over 70 international firms, we collate content on operational risk loss events from various media sources around the globe.

ORX Scenarios

Access an extensive scenario library, scenario practice benchmark studies, and a global scenario practitioner network. In addition, get free scenario development handbooks and a risk intelligence pack.

ORX Cyber

ORX Cyber is a new operational risk management service created specifically for cyber and information security risk professionals in the second line of defence.

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Banking Operational Risk Loss Data Summary 2021

Discover trends and factors driving operational risk losses in the banking sector today.

Insurance Operational Risk Loss Data Summary 2021

Discover trends and factors driving operational risk losses in the insurance sector today.

Right time, right place

Are you ready to manage risk in an increasingly digitalised world? Download the report, Right time, right place: The drive for change in operational and non-financial risk, to find out.

Operational Risk Scenarios White Paper

What does the future hold for operational risk scenario analysis? Download the free Operational Risk Scenarios white paper from ORX Scenarios to find out.

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Operational Risk Horizon 2021

Find out which emerging operational risks you need to be aware of and what's driving changes to the risk landscape in our annual Operational Risk Horizon report.

Three Lines of Defence Practice Benchmark

Understand how the 3LOD model is implemented at financial firms and see how your practice compares in this Practice Benchmark from ORX.

Latest news, blogs & research updates

ORX News

ORX News Deep Dive: Colpipe pay $4.4m ransom

John Bosnell

17 September 2021

Download the free operational risk Deep Dive from ORX News to find out why Colpipe paid a ransom of $4.4m following a cyber attack that disrupted their operations.

ORX News

5 largest operational risk losses: August 2021

John Bosnell

15 September 2021

Discover the 5 largest op risk loss events recorded by the ORX News team in August 2021. This month's top 5 includes a hack exploiting system vulnerability, a scheme that defrauded hundreds of customers, and illegal operation and insufficient AML controls

ORX Cyber

Key themes in overseeing cyber supplier risk exposure

Melanie Lavallin

29 July 2021

In June 2021, we ran a research study with subscribers of our ORX Cyber service exploring how financial firms approach the oversight of supply chain cyber risk exposure. The results of the study highlighted 5 key themes - find out what they are.

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ORX Scenarios

How to use operational risk scenarios for more proactive risk management

Esther Britton

27 July 2021

At ORX we’re focusing on how to support financial organisations to become more proactive in their risk management. Find out you can do this using operational risk scenario analysis.

See more op risk updates

How we improve the operational risk discipline

Operational risk reference taxonomy

Our award-winning operational risk taxonomy is available for you to download for free.

Operational risk reporting standards

Download our free, industry-recognised reporting standards to help you with operational risk event collection and to support your reporting practices.

Operational risk research

Our aim is to push understanding of operational risk practice, theory and strategy forward. To help us do this, we carry out research on the most important issues facing the industry today.

Operational risk loss data

We provide high-quality operational risk loss data and confidential data sharing to the financial industry. We cover the banking, insurance and asset management sectors.

Benefits of ORX Membership

Global loss data service

Join the only global service for banking and insurance firms that exchanges high-quality data relating to operational risk losses in a completely secure and anonymised way.

Pioneering research programme

We provide world-class research that supports effective op risk management and measurement within the financial services industry, as directed by our members.

Focused op risk events

ORX events are free, invitation-only opportunities to share knowledge, experience and expertise with peers across a wide range of operational risk-related topics.

Benchmarking your practice

Understand practice in key areas of operational risk management, including a personalised benchmark report comparing your firm to your peers.

Operational risk working groups

Be part of an ORX working group that meets regularly with fellow risk professionals to discuss a specific operational/non-financial risk topic.

Join a community of 100+ firms

Become part of a global group of financial firms working together to improve and advance the management and measurement of operational risk.

Browse our resources by area of operational risk

Op risk measurement & data

Day-to-day op risk management

Op risk strategic development

Material risks in focus, e.g. cyber

Powering operational risk management

Join more than 100 firms who are members of ORX

Take a look at our premium services

Free to download

Full reports available to buy now

Latest news, blogs & research updates

How we improve the operational risk discipline

ORX Membership

Benefits of ORX Membership

Browse our resources by area of operational risk