Practice Benchmarks

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.

ORX Practice Benchmarks

Practice Benchmark

Three Lines of Defence Practice Benchmark

Simon Johnson

11 September 2020

The 3LOD is an accepted model for effective operational risk management. This Practice Benchmark lets you understand how the 3LOD is implemented in practice, its challenges and how your practice compares.

Practice Benchmark

Operational Risk ICAAP Practice Benchmark

20 February 2020

This report summarises key findings of the ICAAP governance and coordination Practice Benchmark. The study examined common industry practice for governing and coordinating the operational risk component of the Internal Capital Adequacy Assessment Process.

Practice Benchmark

Scenario Refresh & Trigger Process Practice Benchmark

Giuseppe Aloi

3 March 2020

This Practice Benchmark showed that the industry is adopting more dynamic approaches, which are better designed to meet business needs and are more focused on managing risks at the right time. However, there are still areas that could be improved.

Practice Benchmark

RCSA Practice Benchmark

Esther Renfrew

28 January 2020

RCSA is one of the most important tools in a firm’s operational risk management and control framework. But are you making the most of RCSA? This ORX Practice Benchmark can show you what you're doing right and what you could be doing better.

Practice Benchmark

Op Risk Framework Design Practice Benchmark

Esther Renfrew

26 April 2019

Understand how your operational risk framework compares to others within the industry. This Practice Benchmark presents a range of practice and has created a typical framework for reference.

Practice Benchmark

Control Management Practice Benchmark

18 September 2018

In this Practice Benchmark study, we looked at maturity in control management. Download the summary report below for more information.

Practice Benchmark

Operational Risk Appetite Practice Benchmark

Esther Renfrew

16 December 2017

The industry is progressing, but challenges remain. Our study helped to better understand the state of operational risk appetite within the financial services industry. See what we found out.

Practice Benchmark

Outsourcing risk practice benchmark

29 October 2018

What does outsourcing do to your operational risk profile? Part of practice benchmark programme, this study identified common and best practices in managing the risk of a firm's outsourced/third-party portfolio.