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Coronavirus:
How ORX is supporting the operational risk community

As we're sure you're aware, the vast majority of financial organisations have now been impacted in some way by coronavirus (Covid-19). At ORX, we've been busy working on what we can do to support operational risk teams around the world through this situation.

Because coronavirus poses such a critical challenge to operational risk, and because ORX’s mission is to support the whole of the financial sector not just our members, we’re making coronavirus-related content freely available for all. This means we’ll be regularly sharing information, reports, news updates and other resources which would usually only be available as part of ORX Membership or our premium services – ORX News and ORX Scenarios.

We took this decision with the support of our board of directors, who agreed that we should do what we can to support operational risk professionals at all financial organisations through this unique and difficult situation. Where our members and subscribers are taking part in exclusive discussion and working groups, we will share key points and takeaways with you.

Stay up to date with the latest on coronavirus from ORX

If you’d like to know when we publish new coronavirus resources and information then  sign up to our newsletter. You can also follow us on LinkedIn or Twitter.

Free coronavirus-related resources

Virus
Industry news
Impact of coronavirus on operational risk: ORX News round-up
John Bosnell
2 September 2020
ORX News is providing a regular round-up of the operational risk impacts of coronavirus on financial firms worldwide, including its impact on operations and what actions firms are taking to help clients.
Latest news
Five lessons operational risk can learn from the pandemic
Amy Lauder
18 August 2020
The world’s largest operational risk association, ORX, recently published a report on the key lessons businesses can learn from dealing with the coronavirus (Covid-19) pandemic.
Latest news
How coronavirus has impacted operational risk profiles and how firms are responding
Esther Britton
30 July 2020
Read this interview with one of the ORX researchers to learn more about how the pandemic is changing operational risk profiles, what the industry is doing in response and what could be the long-term effects.
ORX coronavirus the first lessons report cover
Research
Coronavirus: the first lessons
Simon Wills
10 July 2020
Read our latest report, Coronavirus: the first lessons - a view from the operational risk community, to see what the industry has learnt from the pandemic, where we succeeded and what we could do better in the future.
Information
Scenario Development Handbook: Pandemic
Lily Loneragan
11 June 2020
In response to the coronavirus outbreak, ORX Scenarios have produced a pandemic Scenario Development Handbook to provide practical guidance on preparation, assessment and governance to support your development of scenario process.
Research
Covid Risk Review
Steve Bishop
8 June 2020
Find out how coronavirus has impacted operational risk profiles. Read the results of our survey of the ORX membership on the current operational risks facing us today.
Research
Operational risk & coronavirus: how are firms responding?
Luke Carrivick
5 June 2020
We're continually working with the financial organisations that are members of ORX to see how they are responding to coronavirus (Covid-19) from an operational risk management perspective. Here's what they telling us...
Information
Webinar: How to create a pandemic scenario
Esther Britton
26 May 2020
Learn about creating an operational risk scenario for a pandemic with this webinar from the ORX Scenarios team. The discussion includes risk drivers, impacts, risk identification and how scenario practice could change post-coronavirus.
Standards
Capturing operational risk impacts of coronavirus
John Bosnell
7 August 2020
Read our updated guidance on capturing the operational risk impacts due to the coronavirus pandemic, including which specific impacts to include and exclude and areas where we could make further refinements.
Information
What risk drivers and impacts should you consider for pandemic scenarios?
Giuseppe Aloi
4 May 2020
Read more highlights from ORX Scenario discussions on pandemics, including the most significant risk drivers, for example staff absence and IT infrastructure capacity, and impacts such as HR and legal costs and conduct and processing errors.
Blog
Coronavirus impact on fraud, conduct & reputation
Luke Carrivick
21 April 2020
How is coronavirus impacting fraud, conduct and reputational risk profiles? Here are some of the highlights of our conversations with senior operational risk managers at financial firms.
Blog
What impact is coronavirus having on cyber risk profiles?
Steve Bishop
20 April 2020
Find out how of coronavirus (Covid-19) is affecting a financial firm's cyber risk profile. Key impacts include an increase in cyber attacks, the vulnerabilities of working from home and third and fourth party risks.
Latest news
5 current coronavirus priorities for op risk managers
Luke Carrivick
9 April 2020
Find out what the current coronavirus priorities for operational risk managers at financial firms are, including maintaining business-critical services, deploying debt relief packages and increasing internal collaboration.
Industry news
Six top takeaways on creating pandemic scenarios
Giuseppe Aloi
7 April 2020
The ORX Scenarios team have been discussing best practice and guidance for creating pandemic scenarios with our network of practitioners. Read our key takeaways here, including ideas for creating a pandemic scenario storyline here.
Research
Operational resilience & coronavirus: A UK perspective
Simon Johnson
7 August 2020
Read the key discussion points from our discussions with ORX member organisations active in the UK on the impact of coronavirus on operational resilience in financial institutions.
Industry news
Bank sends coronavirus grant applications to wrong users
John Bosnell
6 April 2020
On 28 March 2020, it was reported that Investitionsbank Berlin (IBB) had accidentally given small businesses and the self-employed access to other users’ applications for coronavirus grant funding due to a programming error.
Industry news
DKB's websites & app unavailable due to high demand
John Bosnell
6 April 2020
On 24 March 2020, it was reported that Deutsche Kreditbank’s (DKB) home page, online brokerage website and mobile banking app were unavailable.
Blog
Observations on the impact of coronavirus on op risk management
Luke Carrivick
20 March 2020
Luke Carrivick, Head of Research & Information at ORX, shares his observations on the impact coronavirus has had on operational risk management in financial services so far.
Industry news
Bank evacuated after employee coronavirus case
John Bosnell
16 March 2020
Operational risk loss story of the month from ORX News: In February 2020, DBS Bank announced that it had evacuated employees from an office in Singapore after an employee was confirmed to be infected with coronavirus (COVID-19).