Compare yourself to the industry
Operational risk management isn’t an exact science and practice is constantly evolving. One of the big challenges is knowing how other firms are operating and understanding how your practice compares. This is where ORX Practice Benchmarks can help.
What are Practice Benchmarks?
Practice Benchmarks cover a number of key areas of the operational risk framework. They allow you to assess the maturity of your organisation's practices against the industry and help you understand where you're doing well and where you could improve.
They consist of a survey of participant's practices, an overall report identifying key industry trends and a personalised benchmark report showing your organisation's practice against that of the other participants.
Non-members take part for £1,000, free for ORX members
If you're not a member of ORX, you can still take part in a benchmark for a fee of £1,000, while ORX members can take part for free as part of their ORX Membership subscription. Our Practice Benchmarks are initially run as a standard ORX project. If you take part when they first launch, then you can be involved in any related group calls, webinars and roundtables as well as receiving the full report and personalised benchmark.
Get a Practice Benchmark at any time
Even if you weren't involved in the project initially, then you can still request your own personalised benchmark report for any of our Practice Benchmarks. For £1,000 you'll receive the personal report and the overall industry trends. Just get in touch and let us know which ones you'd like to take part in.
Take part in a Practice Benchmark to:
- Benchmark your strengths and weaknesses against the wider industry
- Save time by discovering areas where your institution should focus effort
- Find out the common challenges and best current practice
- Compare your institution’s size, region and selected peer group with others
- Use your personalised benchmark in discussions with regulators and for internal support with board members