Membership continues to grow in turbulent times

  • 14 December 2016

It has been a year of uncertainty for those in the operational risk community, with planned regulatory reforms and the potential changes to practice that these may bring.

Despite this changing enivornment, ORX has continued to flourish - growing both our membership and the services we offer people, and continuing our aim of advancing operational risk practice within the financial services industry.

During 2016, a total of eight new institutions – a mixture of banks and insurers – joined the membership:

  • AIG Insurance
  • Clydesdale Bank
  • Hannover Ruck SE
  • KBC Bank
  • Liberty Group
  • Prudential
  • United Services Automobile Association
  • Mitsubishi UFJ Financial Group

They join a growing Membership of almost 100 Members across 23 different countries. By continuing to increase the Membership each year we can help our Members to advance the measurement and management of operational risk in the financial services industry as well as providing a united voice to help shape the future of the operational risk industry.

Roland Kennett, Head of Membership and Services Development, said: “We are pleased that institutions are continuing to put their trust in ORX despite, and perhaps because, of the uncertainty in the industry. People see us as a voice for operational risk in the financial sector and realise the potential we can bring by working together with like-minded practitioners.”

As well as growing its Membership ORX is also developing new and existing services. One of these services which is available to both Members and non-Members is ORX News, an industry-leading provider of publicly reported operational risk loss data from around the globe.

This year seven financial institutions have joined ORX News taking the number of subscribers up to 55. ORX News continues to provide its subscribers with detailed and timely coverage of operational risk loss events in the financial services industry.

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