About

We are the largest operational risk association in the financial services sector.

Since 2002, we’ve been developing a global community of financial institutions committed to improving the management and measurement of operational risk.

ORX buildings

Who we are

When ORX was set up our aim was simply to “provide a platform for the secure and anonymised exchange of high-quality operational risk loss data from around the world”. These days, we’re about much more than that.

Owned and driven by our Members, we now bring together hundreds of operational risk professionals to share their knowledge, expertise and experience of the financial services industry.

Our aim is to help our Members better manage, measure and understand operational risk. We do this through collaboration and the sharing of ideas, information and experience.

We no longer just act as a loss data exchange, we now provide a range of services and opportunities, including:

  • Organising member-led forums around the world to set the agenda
  • Forming working groups, where individuals can shape the conversation
  • Running a programme of research projects for you to get involved in
  • Developing services and toolkits to help support the work you do
  • Carrying out surveys and benchmarks to help you evidence your work

If you think your firm could benefit from ORX Membership, find out more about joining us.

A membership of almost
100
financial institutions
More than
20
countries
More than
2,000
operational risk experts
Our network

Governance

ORX is a not-for-profit industry association in the financial services sector, incorportated in Geneva, Switzerland. The association is owned and run by its Members and our Articles of Association are central to the commitments made and expected of every Member.

We have a Board of Directors who are the principal decision making body of ORX. The board is made up of 11 directors who are appointed for a two-year term. Nine of the directors come from our Member firms, while the remaining two are independent External Directors. ​The Board is supported by a Managing Board and the ORX staff - also known as the ORX Secretariat.

Working groups

Collaboration is a key characteristic of ORX and this is shown in the wide range of working groups that we run.

Each working group is made up of individuals, often leading experts, from our Member institutions and has a key focus on a specific activity or topic - for example analytics, insurance, bank supervisory policy, scenarios and definitions.

They have their own remit and are responsible for developing practice in that particular area and also to respond to queries that are raised by the Membership.

You can find out more about these groups, and the wider contact groups which are kept in touch about working group activities, on the ORX Network page.

Download our current Membership map

ORX Membership at February 2017 - showing 96 of 97 firms (excl BIS)