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ORX News

News, blogs & updates

The latest operational risk information from ORX

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If you're specifically looking for updates from ORX News (including top 5 operational risk losses and stories of the month), then you can find them all on the ORX News resources page.

Operational risk news, blogs & research updates...

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Latest news
Podcasts: A summary of LeadersConnect 2023, top 5 losses, findings from Crypto report and highlights of DORA session
Marina Vissaridis
1 June 2023
In the latest episodes of the ORX Operational Risk Podcast, we summarise our LeadersConnect Live 2023 event and the ORX News team look at the top 5 op risk losses of April 2023, findings from their Crypto report and highlights of the recent DORA session.
Read more
ORX News
Top 5 ORX News Losses: Q2 2023
Lily Richardson
10 May 2023
Each month, the ORX News team publish a list of the five largest losses reported in the previous month. Find out which operational risk loss events have had the most impact recently in the monthly top five losses of Q2 2023 from ORX News.
Read more
Latest news
New ORX website coming soon
Esther Britton
9 May 2023
We're replacing the ORX Membership and public websites. Find out more about the new website, launching at the end of June to early July this year.
Read more
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Latest news
Podcasts: Horizon 2023 report findings, top 5 losses and deep dive into collapse of Credit Suisse & SVB
Marina Vissaridis
27 April 2023
In the latest episodes of the ORX Operational Risk Podcast, we discuss the key findings from the recent Op Risk Horizon 2023 report, and the ORX News team look at the top 5 op risk losses of March 2023 and the collapse of Credit Suisse & SVB.
Read more
ORX News
Top 5 ORX News Losses: Q1 2023
Lily Richardson
13 April 2023
Each month, the ORX News team publish a list of the five largest losses reported in the previous month. Find out which operational risk loss events have had the most impact recently in the monthly top five losses of Q1 2023 from ORX News.
Read more
Latest news
Podcasts: Greenwashing Scenario Toolkit, top 5 losses and a focus on the 2022 Year in Review findings
Marina Vissaridis
16 March 2023
The latest episodes of the ORX Operational Risk Podcast are now available. In episode 28, the ORX News team look at the latest op risk losses and findings from the 2022 Year in Review report. Episode 29 covers our recent Scenarios Greenwashing Toolkit.
Read more
Latest news
ORX enhances Operational Risk Reference Taxonomy guidance for 2023
Steve Bishop
8 March 2023
Over the past few years, ORX – supported by Oliver Wyman – have created an Operational Risk Reference Taxonomy.
Read more
Latest news
Financial institutions must cooperate to mitigate the risk of cyber attacks
Roland Kennett
7 March 2023
We are pleased to be an associate partner of the latest Raconteur report for The Times on Fraud and Financial Crime. Read the article on cyber risk included in the report from Roland Kennett.
Read more
Latest news
Podcasts: Managing cyber risk scenarios, top 5 losses and focus on S for Social in ESG
Marina Vissaridis
1 March 2023
The latest episodes of the ORX Operational Risk Podcast are now available. Episode 26 covers our recent Managing Cyber Risk Scenarios study. In episode 27, the ORX News team look at the latest op risk losses and do a focus on the S for Social in ESG.
Read more
Insights
7 ways to make your risk indicator practice more effective
Steve Bishop
14 February 2023
Discover seven ways financial institutions can improve their risk indicator practice and streamline their processes, based on the recently published ORX Risk Indicators Practice Paper.
Read more
Latest news
Podcast: Global op risk priorities in 2023, top 5 losses and focus on cryptocurrency
Marina Vissaridis
2 February 2023
The latest episode of the ORX Operational Risk Podcast is now available. Episode 25 explores the global operational risk priorities in 2023. The ORX News team then look at the latest operational risk losses and do a focus on cryptocurrency.
Read more
Latest news
Change of leadership at ORX as Luke Carrivick appointed Executive Director
18 January 2023
We are delighted to announce that Dr Luke Carrivick has been appointed Executive Director at ORX. Luke has been a member of ORX’s Executive team since 2016, leading the Research and Information department prior to this new role.
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Information
Announcing our ambitious plan for 2023
Luke Carrivick
17 January 2023
ORX is turning 21 this year and in 2023 we are taking our shared expertise to a whole new level and are delighted to share with you our plan for the year ahead.
Read more
ORX News
Top 5 ORX News Losses: Q4 2022
Lily Richardson
13 January 2023
Each month, the ORX News team publish a list of the five largest losses reported in the previous month. Find out which operational risk loss events have had the most impact recently in the monthly top five losses of Q4 2022 from ORX News.
Read more
Latest news
Podcast: ORX News top 5 losses of Nov 2022 and top 5 largest losses of the year
Marina Vissaridis
20 December 2022
The latest episode of the ORX Operational Risk Podcast is now available. Episode 24 covers the ORX News team looking at the top 5 operational risk losses of last month, and the top 5 largest losses of 2022.
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Press release
Survey insights indicate ORX Reference Taxonomy is being considered the industry standard
Steve Bishop
9 December 2022
A recent survey run by ORX, the world’s largest operational risk association, with our 100+ membership of leading financial institutions has revealed ORX Reference Taxonomy is now being considered the industry standard.
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Latest news
2022 – Marking a milestone year for ORX and our members
Roland Kennett
6 December 2022
This year has been a milestone year for ORX with it being our 20th anniversary, so we thought it would be a good time to reflect on our collective successes over the past two decades. Find out more here.
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ORX News
ORX News has reached a milestone of over 10,000 published stories!
Lily Richardson
6 December 2022
The ORX News service has reached a milestone of over 10,000 published stories on the ORX News website over the past 10 years. Find out more about ORX News here.
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Latest news
Podcast: ORX Scenarios Library, top 5 losses and focus on cyber-related events
Marina Vissaridis
30 November 2022
The latest episode of the ORX Operational Risk Podcast is now available. Episode 23 explores the latest ORX Scenarios Library. The ORX News team then look at the latest operational risk losses and do a focus on cyber-related events.
Read more
Press release
ORX marks 20th anniversary with innovative platform for digital risk management
Simon Wills
21 November 2022
ORX celebrates its 20-year anniversary this month by launching iDP – a first-of-a-kind platform which brings together a new generation of risk management and data visualisation applications.
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Latest news
Podcast: Control libraries, top 5 losses and focus on climate
Esther Britton
31 October 2022
The latest episode of the ORX Operational Risk Podcast is now available. Episode 22 explores the recently released control library. The ORX News team then look at the latest operational risk losses and do a focus on climate.
Read more
Latest news
Introducing iDP
Simon Wills
20 March 2023
Standing for Innovation Data Platform, iDP is a first-of-a-kind digital platform on which ORX can launch a new generation of risk management and data visualisation applications.
Read more
ORX News
Top 5 ORX News Losses: Q3 2022
Lily Richardson
11 October 2022
Each month, the ORX News team publish a list of the five largest losses reported in the previous month. Find out which operational risk loss events have had the most impact recently in the monthly top five losses of Q3 2022 from ORX News.
Read more
Insights
8 ways to optimise your controls practice
Steve Bishop
5 October 2022
Optimising internal controls is a challenge for many financial firms. Here’s 8 ways you could improve your practice.
Read more
Press release
ORX launches world first industry-wide controls library for operational risk
Esther Britton
5 September 2022
We’re delighted to announce that together with McKinsey & Company as a knowledge partner, we’ve launched a world first industry-wide controls library for operational risk.
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ORX Scenarios
The ORX Scenarios Library 2022
Simon Johnson
9 August 2022
The ORX Scenarios library is a database of operational risk scenarios shared by subscribers to the service. Find out how it can support scenario practice at your firm.
Read more
Latest news
Podcast: Top Risk Review, top 5 losses and focus on data management
Esther Britton
4 August 2022
The latest episode of the ORX Operational Risk Podcast is now available. Episode 20 explores the Top Risk Review, ORX News top 5 operational risk losses and has a focus on data management.
Read more
Information
ORX response to EBA environmental risks consultation
Steve Bishop
4 August 2022
Take a look at our response to the EBA consultation. We've worked with our members to put this response letter together.
Read more
Press release
Op risk losses reported by global banking companies continue to fall
Esther Britton
21 July 2022
Our latest Annual Banking Operational Risk Loss Data report reveals a decline in total gross loss across the banking community.
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Press release
Op risk losses reported by global insurance companies continue to fall
Esther Britton
21 July 2022
Our latest Annual Insurance Operational Risk Loss Data report reveals a decline in total gross loss across the insurance community.
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Insights
Climate & Operational Risk: The ORX approach
John Bosnell
20 July 2022
Download the paper which sets out how we currently believe the industry is considering climate and operational risk, as well as how we will enhance our existing data and services to support members.
Read more
ORX News
Top 5 ORX News Losses: Q2 2022
Lily Richardson
12 July 2022
Each month, the ORX News team publish a list of the five largest losses reported in the previous month. Find out which operational risk loss events have had the most impact recently in the monthly top five losses of Q2 2022 from ORX News.
Read more
Latest news
Podcast: Climate and op risk, ORX News top 5 and focus on data management
Esther Britton
28 June 2022
The latest episode of the ORX Operational Risk Podcast is now available. Episode 19 explores the climate and operational risk, followed by the ORX News top 5 operational risk losses and a focus on data management.
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Industry news
Focus on climate continues with BCBS principles and EBA discussion paper on environmental risks
John Bosnell
22 June 2022
The regulatory focus on climate continues as the Basel Committee for Banking Supervision publishes its principles for climate-related risks. This follows the EBA discussion paper on environmental risks.
Read more
Latest news
2022 Operational Risk Loss reports published
Esther Britton
20 June 2022
Our latest Annual Operational Risk Loss reports are now available. The reports (one for banking and one for insurance) cover global operational risk loss data from 2016-2021.
Read more
Report
Insurance Operational Risk Loss Data Report 2022
Steve Bishop
6 June 2022
Download the free summary of our latest Insurance Operational Risk Loss Report, for insights into trends, frequency and severity of loss events in our global insurance database. Or, find out how to buy the full report for even more data and analysis.
Read more
Report
Banking Operational Risk Loss Data Report 2022
Luke Carrivick
6 June 2022
Download the free summary of our latest Banking Operational Risk Loss Report, for insights into trends, frequency and severity of loss events in our global banking database. Or, find out how to buy the full report for even more data and analysis.
Read more
Latest news
Podcast: Innovating risk management, ORX News top 5 and focus on ESG
Esther Britton
28 May 2022
The latest episode of the ORX Operational Risk Podcast is now available. Episode 18 explores the topic of innovation in risk management followed by the ORX News top 5 operational risk losses and a focus on ESG.
Read more
Press release
Cyber threats, macroeconomic & geopolitical uncertainty to change risk landscape
4 May 2022
Speed of change is making assessing emerging risks difficult according to the ORX 2022 Operational Risk Horizon report, with cyber threats, macroeconomic change and geopolitical turbulence predicted to significantly influence the emerging risk landscape.
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Report
Operational Risk Horizon 2022
25 April 2022
Part of our risk landscape work, the 2022 Operational Risk Horizon study gives you a comprehensive industry view of emerging risks. Buy the study for a holistic view of the emerging risk landscape and to understand how risks are connected.
Read more
Latest news
Podcast: Operational risk horizon, top 5 losses and cyber warfare
Esther Britton
29 April 2022
The latest episode of the ORX Operational Risk Podcast is now available. Episode 17 looks at the latest Operational Risk Horizon report, the ORX News top 5 operational risk losses and includes a focus on cyber warfare.
Read more
ORX News
Top 5 ORX News Losses: Q1 2022
Lily Richardson
7 April 2022
Read the five largest operational risk losses that were reported by ORX News each month in Q1 2022.
Read more
Press release
ORX announces senior promotions to support growing membership
Esther Britton
4 April 2022
ORX has announced a host of senior promotions to support its growing membership of global banking and insurance organisations.
Read more
Latest news
Podcast: Operational resilience, top 5 losses and sanctions
Esther Britton
30 March 2022
The latest episode of the ORX Operational Risk Podcast is now available. Episode 16 looks at operational resilience, the ORX News Top 5 operational risk losses and includes a focus on sanctions.
Read more
Industry news
Highlights from ORX member roundtable on Ukraine conflict
21 March 2022
On 9 March we were joined by 70 representatives from our member firms for a roundtable to discuss the operational risk impacts of the war in Ukraine. Read on for an overview of the main themes from the sessions.
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Press release
Insufficient investment, skills and data causing significant challenge to efforts to quantify cyber risk
Esther Britton
3 March 2022
Cyber is one of the top risks facing the financial services industry, but organisations are still working out the best way to quantify it, according to a report by ORX Cyber.
Read more
Latest news
Podcast: Cyber risk quantification, top 5 losses and deepfakes
Esther Britton
24 February 2022
The latest episode of the ORX Operational Risk Podcast is now available. Episode 15 looks at cyber risk quantification, the ORX News top 5 operational risk losses and includes a deep dive into deepfakes.
Read more
Insights
The year ahead for operational risk
Roland Kennett
21 February 2022
Find out what our LeadersConnect community is focusing on for 2022, including how to move to optimised and active risk management.
Read more
Latest news
2022 communities, projects and events plan
Roland Kennett
16 February 2022
Take a look at what we have planned for our members this year, including the launch of new working groups, the studies we'll be doing and our calendar of events.
Read more
ORX News
Top 5 ORX News Losses: Q4 2021
Lily Richardson
12 January 2022
Do you know which operational risk loss events have had the most impact recently? Read on for the 5 largest operational risk losses reported by ORX News in Q4 2021.
Read more
Latest news
Podcast: Top 5 losses of 2021 from ORX News
Esther Britton
21 December 2021
Our latest podcast is now available - listen to this short, end of year episode from the ORX News team rounding up the five largest operational risk losses of 2021.
Read more
Latest news
5 most popular ORX resources of 2021
Esther Britton
1 December 2021
Explore some of the most popular free operational risk resources published by ORX in 2021, including the operational risk taxonomy, loss data reports and the ORX Scenarios white paper
Read more
Press release
Constant fear of cyber threats puts information security at number one risk concern in financial services
Esther Britton
30 November 2021
Information security, including cyber, has topped a league table of operational risk concerns for risk professionals at global financial services organisations.
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Press release
Digital transformation and technology top operational risk scenarios in 2021
Esther Britton
24 November 2021
Digital transformation and technology rank as the biggest concern for global banks and insurers in the 2021 operational risk scenarios according to the ORX Scenarios Insights into Material Risks 2021 report.
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Blog
What is the operational risk exposure from cryptoassets?
Luke Carrivick
9 November 2021
Given the rapid rise in the valuation of some cryptoassets, they are increasingly hard to avoid. A recent study estimated that within the UK 2.3m individuals hold cryptoassets, and nearly 80% of adults are familiar with them. Read the blog for more info.
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Blog
EU and UK postpone implementation of Basel III
Luke Carrivick
5 November 2021
The European Commission has confirmed that the new EU rules to implement the final part of the Basel III agreement will come into effect in 2025. Find out more about what's happening and what it means for you.
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ORX News
Top 5 ORX News Losses: Q3 2021
8 October 2021
Do you know which operational risk loss events have had the most impact recently? Read on for the 5 largest operational risk losses reported by ORX News in Q3 2021.
Read more
Latest news
Podcast: Right time, right place report
Esther Britton
8 September 2021
In this episode of the ORX Operational Risk Podcast, Simon Wills, Luke Carrivick and Mark Cooke explore how operational risk can step up and support financial organisations as they go through rapid transformation.
Read more
Press release
Operational risk losses reported by global banks continued to fall in 2020 despite the impact of Covid-19
Esther Britton
30 August 2021
Latest banking operational risk loss report shows a decline across the banking community, despite the impact of Coronavirus (Covid-19).
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ORX Cyber
Key themes in overseeing cyber supplier risk exposure
Melanie Lavallin
29 July 2021
In June 2021, we ran a research study with subscribers of our ORX Cyber service exploring how financial firms approach the oversight of supply chain cyber risk exposure. The results of the study highlighted 5 key themes - find out what they are.
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ORX Scenarios
How to use operational risk scenarios for more proactive risk management
Esther Britton
27 July 2021
At ORX we’re focusing on how to support financial organisations to become more proactive in their risk management. Find out you can do this using operational risk scenario analysis.
Read more
Press release
Banks must embrace fundamental shift in operational risk models to tackle multi-billion digital transformation safely
Esther Britton
23 July 2021
Risk leaders of global financial institutions must start managing risk in a far more active way to tackle their multi-billion pound commitments to digital transformation warns the latest ORX report, ‘Right time, right place’.
Read more
ORX News
Top 5 ORX News Losses: Q2 2021
12 July 2021
Do you know which operational risk loss events have had the most impact recently? Read on for the 5 largest operational risk losses reported by ORX News in Q2 2021.
Read more
Information
Four principles of active risk management
Simon Wills
22 June 2021
As financial firms adapt to the new normal following Covid and digitalisation continues at pace, their operational risk profiles are undergoing significant change. Read the four key principles of active operational risk management.
Read more
Latest news
How to further embed the three lines of defence model
Simon Johnson
25 May 2021
Our Three Lines of Defence (3LOD) Practice Benchmark identified four key ways financial firms can further embed the 3LOD model. Find out how to further embed 3LOD at your organisation.
Read more
Press release
Emerging tech is industry's top emerging operational risk
Esther Britton
24 May 2021
The recent ORX Operational Risk Horizon study identified emerging technology as the industry's most concerning emerging operational risk. Find out why.
Read more
Information
ORX Annual Review
Esther Britton
12 May 2021
Download our latest Annual Review, covering January-December 2020, to hear from the Chair of the ORX Board, Lisa Broomer, and for our highlights from 2020.
Read more
Blog
Basel consultation on resilience and op risk management results in few revisions
Luke Carrivick
22 April 2021
Find out the key changes to the principles for operational resilience and the principles for the sound management of operational risk (PSMOR), from the recent Basel consultation and what they mean for operational risk managers.
Read more
Latest news
Podcast: Operational Risk Horizon 2021
Esther Britton
15 April 2021
In this episode, we discuss some of the main findings from the Operational Risk Horizon study, including the top identified emerging risks and setting out the definition of an emerging operational risk.
Read more
ORX News
Top 5 ORX News Losses: Q1 2021
12 April 2021
Do you know which operational risk loss events have had the most impact recently? Read on for the 5 largest operational risk losses reported by ORX News in Q1 2021.
Read more
Latest news
Podcast: Three lines of defence
Esther Britton
11 March 2021
The latest episode of the ORX Operational Risk Podcast is now available. This episode looks at how financial firms have implemented the 3LOD model, the challenges they've faced embedding it and how they've adapted it. 
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Loss data
What can we learn from a decade of operational risk loss data?
Esther Britton
1 March 2021
Operational risk losses have decreased in both value and frequency over the last ten years recent analysis by ORX shows. In our recent study, we looked at operational risk losses submitted by financial organisations between 2010 and 2019.
Read more
Latest news
Podcast: Introducing ORX Cyber
Esther Britton
11 February 2021
Take a listen to the latest podcast from ORX. This one looks at the current cyber risk management landscape, the challenges facing cyber risk managers and learn more about our new service, ORX Cyber.
Read more
ORX News
ORX News digests of the month: Q4 2020
25 January 2021
The ORX News team chooses a digest from the ORX News service to share publicly each month which highlights a particularly interesting operational risk loss event. Read all the featured digests of Q4 2020.
Read more
ORX News
10 most popular loss events: ORX News Q4 2020
John Bosnell
19 January 2021
Find out which operational risk loss events were the most commonly read on ORX News from 1 October 2020 to 31 December 2020.
Read more
ORX News
Impact of coronavirus on operational risk: ORX News round-up
John Bosnell
18 December 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.
Read more
Blog
6 ways to address the challenges of operational resilience
Melanie Lavallin
1 December 2020
Operational resilience is a hot topic at the moment. Find out how you can address the regulatory challenge posed by operational resilience right now.
Read more
ORX News
ORX News Deep Dive: Citibank loses USD 400 million
John Bosnell
26 November 2020
Download the free Deep Dive from ORX News to find out why Citibank was fined USD 400 million over poor risk management, data governance and control failures.
Read more
Press release
ORX publishes Cause and Impact Taxonomy
Esther Britton
25 November 2020
We've delighted to announce that we've extended the ORX Reference Taxonomy to include a new Cause and Impact Taxonomy. Find out more about the new taxonomy.
Read more
Industry news
Top 5 ORX News Losses: Q4 2020
13 January 2021
Read the 5 largest operational risk losses reported by ORX News each month in Q4 2020 to find out which loss events have had the most impact recently.
Read more
Press release
Top 5 operational risks in October 2020
Esther Britton
6 November 2020
The latest operational risk review from ORX found that information security (including cyber) risk once again topped the list of the most concerning operational risk facing financial firms today. Find out the rest of the top 5.
Read more
Insights
Top 5 operational risk scenarios of 2020
Giuseppe Aloi
10 November 2020
Find out which operational risks firms are most likely to be creating scenarios for in 2020. Our analysis shows the top 5 are conduct, external fraud, technology, transaction processing & execution and financial crime.
Read more
Industry news
The key changes to PSMOR and what they mean for operational risk
Luke Carrivick
22 October 2020
The BCBS recently proposed some changes to the PSMOR. Luke Carrivick takes a look at the changes and explains what they mean for operational risk.
Read more
Press release
Conduct and business disruption top concerns in scenarios library
Esther Britton
18 October 2020
Our latest report on the operational risk scenarios in the ORX Scenarios library shows that conduct and business disruption are top of financial firms' agendas at the moment.
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Industry news
10 most popular loss events: ORX News Q3 2020
John Bosnell
12 October 2020
Find out which operational risk loss events were the most commonly read on ORX News from 1 July 2020 to 30 September 2020.
Read more
Industry news
ORX News digests of the month: Q3 2020
12 October 2020
The ORX News team chooses a digest from the ORX News service to share publicly each month which highlights a particularly interesting operational risk loss event. Read all the featured digests of Q3 2020.
Read more
Blog
Why operational risk measurement remains important despite SMA
Sarah Astill
28 September 2020
Despite the change to the SMA, capital models remain important and popular with financial firms and our membership. Find out why the industry still values operational risk measurement and capital models.
Read more
Latest news
Top 5 cyber risks and how they've changed in the pandemic
Melanie Lavallin
17 September 2020
A recent ORX study showed that cyber and information security risks have changed as a result of coronavirus. We surveyed cyber experts in our operational risk community to find out more - here are the top 5 level 2 cyber risks.
Read more
Industry news
ORX to respond to BCBS resilience & PSMOR consultations
Luke Carrivick
16 September 2020
Find out what's in the BCBS operational resilience consultation and their recent update to the principles for the sound management of operational risk and how ORX is coordinating an industry response.
Read more
Press release
CCAR benchmark study shows firms face 3 new challenges
Esther Britton
4 September 2020
The latest CCAR benchmark study from ORX showed that firms faced three main new challenges in 2020 – timing and resources, modelling and macro-economic factors. Read the summary report for more information.
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Latest news
Welcoming the new ORX Chair, Lisa Broomer
Esther Britton
25 August 2020
At the ORX AGM in June, Lisa Broomer from JPMorgan Chase, Head of Firmwide Operational Risk Capital and Stress Team at JPMorgan, was elected the new Chair of the ORX Board for 2020.
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Blog
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.
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Industry news
Top 5 ORX News Losses: Q3 2020
12 October 2020
Read the 5 largest operational risk losses reported by ORX News each month in Q3 2020 to find out which loss events have had the most impact recently.
Read more
Latest news
How coronavirus has impacted operational risk profiles and firm's responses
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.
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Blog
The invisible co-worker
27 July 2020
Read this thought piece from Mark Cooke, former Chair of ORX on the impact of coronavirus on operational risk and how the workplace will change in response.
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Press release
Operational risk reports show losses decrease
Esther Britton
23 July 2020
ORX have just released their latest annual operational risk loss reports for the banking and insurance sectors. Both reports show that operational risk losses have decreased again – but what will the impact of coronavirus (Covid-19)?
Read more
Industry news
BCBS Basel III update shows little progress
Luke Carrivick
16 July 2020
The BCBS has published its Eighteenth progress report on adoption of the Basel regulatory framework, confirming that very few jurisdictions have formally made progress on their implementation of the revised operational risk framework.
Read more
Industry news
10 most popular loss events: ORX News Q2 2020
John Bosnell
15 July 2020
Find out which operational risk loss events were the most commonly read on ORX News from 1 April 2020 to 30 June 2020.
Read more
Press release
ORX publishes report on lessons learnt for op risk from coronavirus
Esther Britton
14 July 2020
The report, developed from conversations with more than 100 of ORX’s member organisations, looks at what went well and what could have been improved in operational risk's response to the coronavirus pandemic.
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Blog
Regulators mirror banks on climate risk challenges
Simon Johnson
30 June 2020
Recent papers have shown that climate risk management challenges faced by banks are reflected in the problems faced by regulators. Read this analysis to find out more.
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Press release
Global operational risk association announces changes to its Board of Directors
Amy Lauder
16 June 2020
ORX, the world’s largest operational risk association with a membership of over 100 financial organisations from around the world has today announced changes to its Board of Directors.
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Insights
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...
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ORX Scenarios
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.
Read more
Blog
Do operational risk taxonomies have a future?
Simon Wills
28 April 2020
ORX has recently published a new reference taxonomy for operational risk. It has been positively received by members, the industry and by supervisors. But, given the rise of advanced analytics, do taxonomy have a future?
Read more
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.
Read more
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.
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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.
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Insights
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.
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ORX Scenarios
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.
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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.
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Information
The three lines of defence (3LOD) model explained
Simon Johnson
26 February 2020
The three lines of defence (or 3LOD) model is an accepted regulated framework designed to facilitate an effective risk management system. Traditionally, it's used because it provides a standardised and comprehensive process. Find out more about the 3LOD.
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Information
How can op risk benefit from machine learning?
Annika Westphal
17 February 2020
Our recently published white paper identified five key ways that operational and non-financial risk management could benefit from using machine learning techniques. Find out what they were.
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Press release
ORX plants 100 trees to celebrate 100th member
Esther Britton
24 January 2020
ORX is delighted to announce that this month we gained our 100th member. To celebrate reaching this important milestone, we've planted 100 trees – one for each of our current members.
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