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 65 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.

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Many of our valuable research studies and services can be purchased individually without joining ORX Membership or subscribing to a service.

Free resources

From our reporting standards to our reference risk taxonomy, we have lots of free resources you can benefit from.

How we improve the operational risk discipline

Machine learning in operational risk

Read our white paper about how we believe that the application of advanced analytics will be a core part of any future strategy for the management of operational and non-financial risk.

Op risk Initiative of the Year Award 2019

ORX reference taxonomy

We recently won Initiative of the Year at the Operational Risk 2019 Awards for our reference taxonomy that's helping to create a common language for the whole financial services industry.

Cyber risk

Since early 2019, we've been supporting firms with cyber and information security risk. This group has now finished work on definitions and roles and responsibilities.

Clarity for op risk practice

ORX has developed a programme to help firms benchmark their practices in areas of the operational risk framework, including RCSA.

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

Latest news and blogs

Information

Four challenges of distributing cyber operational risk management responsibilities

Melanie Lavallin

13 November 2019

Financial institutions face four key challenges when distributing roles and responsibilities for cyber risk management, including lack of clarity; conflict of interest; resource and capacity; and low board-level understanding of cyber and IT.

Industry news

Monthly Top 5 ORX News Losses – October 2019

John Bosnell

5 November 2019

Find out the five largest operational risk loss events recorded by the ORX News team in October 2019.

Information

How can ORX News support your scenario practice?

John Bosnell

29 October 2019

Did you know that you could use ORX News to support your firm’s operational risk scenario programme? Focused solely on operational risk, the ORX News service brings together publicly reported loss events from around the world.

Press release

BCP become 99th member of ORX

Esther Britton

28 October 2019

We’re pleased to announce that Banco de Crédito del Perú (BCP) have just joined ORX, becoming our 99th member.

See all our news and blogs

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.

High quality 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 op risk 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.

Cyber & security information risk programme

ORX is driving efforts to use our unique holistic view and expertise to enhance the active management of the most significant material risks, including cyber.

Reaching new heights with operational risk