ORX Annual Review

  • 16 June 2020

Annual Review 2019: Championing op risk

Read our latest annual report to find out more about ORX, how we supported operational risk teams in 2019 and for our audited accounts.


ORX Annual Review 2019: Championing Op Risk

Highlights from 2019 at ORX

Growing the ORX community to 100 organisations

As an association, we achieved a great deal in 2019. This included reaching the significant milestone of 100 members, and we’ve grown even more since then. To celebrate reaching 100 members, we made a donation to plant a tree on behalf of each of those 100 firms.

Developing industry-leading initiatives and research

In-line with our strategy and mission, 2019 saw ORX undertake research studies and initiatives to drive operational risk forwards and champion risk management. These included our work on a cyber service, creating a new reference taxonomy and leading a debate of the future of operational risk management.

Creating a cyber programme

With the help of our members, we’ve invested in developing our cyber risk offering over the last 18 months. We’ve built a strong community of second line risk managers and followed their lead in sharing data on controls and event impact.

Publishing an industry-leading taxonomy

In 2019 we published a new ORX Reference Taxonomy for operational risk. The taxonomy recorded the changing risk profile of financial services and offered a common reference point for firms undertaking their own work.

Kick-starting a conversation on reimagining operational risk

Last year, we began facilitating a conversation among senior risk managers in our membership on reimagining operational risk. Digitalisation is transforming financial services, and the consequences of this transformation will fall primarily in the operational risk portfolio. Following the impact of coronavirus, this discussion will become more important than ever.

2019 at ORX

ORX Annual Review: 2019 at ORX

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ORX Annual Review 2019: Championing Op Risk

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ORX Annual Review 2017: The way forward

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