Powering operational risk management

Membership and services from ORX

Join more than 100 firms who are members of ORX

ORX Membership
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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100% of our members surveyed said that ORX provides them with valuable research & insights, and 100% would recommend ORX to a non-member.

Take a look at our premium services

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. 

Reports from ORX

ORX News Deep Dive: Citibank loses $400m

Download the free Deep Dive from ORX News to find out why Citibank was fined USD 400 million over poor risk management, data governance and control failures.

ORX Cause & Impact Operational Risk Taxonomy

This taxonomy complements the Event Type Taxonomy and covers causes and impacts to provide even more insight.

Latest news, blogs & research updates

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Research
Exploring Risk Exposure Methodologies
Annika Westphal
19 March 2021
ORX’s new initiative will advance the use of structured, risk-factor driven approaches to operational risk measurement. We’ll explore the current and potential use of the approaches and opportunities to collect and benchmark relevant risk factors.
Latest news
Podcast: Three lines of defence
Esther Britton
11 March 2021
The latest episode of the ORX Operational Risk Podcast is now available. This episode looks at how financial firms have implemented the 3LOD model, the challenges they've faced embedding it and how they've adapted it. 
ORX News
5 largest operational risk losses: February 2021
John Bosnell
10 March 2021
Discover the 5 largest operational risk loss events recorded by the ORX News team in February 2021. This month's top 5 includes overpaid student loan subsidies, a settlement for deceptive conduct, and a defrauded loan based on forged documents.
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Loss data
What can we learn from a decade of operational risk loss data?
Esther Britton
1 March 2021
Operational risk losses have decreased in both value and frequency over the last ten years recent analysis by ORX shows. In our recent study, we looked at operational risk losses submitted by financial organisations between 2010 and 2019.
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.

Free coronavirus resources

Since the start of the pandemic, we've been working to provide resources, guidance and research to support operational risk through the crisis.

Coronavirus resources

Benefits of ORX Membership

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