Operational risk management in financial services

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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

ORX reference taxonomy

We've just published the new version of our award-winning reference taxonomy for operational and non-financial risk, which explores level 1 and 2 risks.

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.

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.

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

Latest news

Operational risk research studies and initiatives for 2020

Luke Carrivick

8 January 2020

We’ve just launched our programme of research studies, practice benchmarks and initiatives for 2020. Find out what operational risk topics we'll be studying in 2020.

Industry news

Monthly Top 5 ORX News Losses – November 2019

John Bosnell

5 December 2019

The five largest operational risk loss events recorded by ORX News in November 2019, including Itau Unibanco being fined $903 million and Wells Fargo being fined $200 million.

Information

Three cases for machine learning in op risk

Annika Westphal

29 November 2019

Our analysis showed that there are three main areas where machine learning can be used in operational risk – fraud detection, text-mining for data augmentation and data quality assurance.

Six trends from the ORX Scenario library editorial report 2019

Information

Six trends from the ORX Scenarios library in 2019

Giuseppe Aloi

6 December 2019

Since 2017, institutions have submitted more than 1,100 operational risk scenarios to the ORX Scenarios library. Read on for the key trends and insights from the library in 2019.

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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