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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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.

Exploring Risk Exposure Methodologies

This project explored the use of structured scenarios for operational risk measurement, specifically structured scenarios based on Bayesian networks. Download the free summary report for an overview of our key findings.

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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 in this Practice Benchmark from ORX.

Latest news, blogs & research updates

ORX News

5 largest operational risk losses: May 2021

John Bosnell

10 June 2021

Discover the 5 largest operational risk loss events recorded by the ORX News team in May 2021. This month's top 5 includes three fines by European Commission over EGB trading cartel and a fine for aiding US taxpayers avoid paying tax.

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