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 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

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.

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.

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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

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