Announcing our ambitious plan for 2023

ORX will turn 21 this year. And, after two decades of helping the global operational risk community to collectively solve challenges and grasp new opportunities, in 2023 we are taking this to a whole new level and are delighted to share with you our plan for the year ahead.

Our seven headline areas of focus

In 2023, we will once again offer an ambitious agenda to ensure operational risk teams thrive in an increasingly digitalised and fast-paced environment. 

We will continue to expand our community for sharing insights, data & best practice:

1. Bringing leaders together to set the strategy for the discipline
2. Helping you better understand the risk landscape & specific material risks such as Cyber 
3. Optimising and advancing risk management & measurement
4. Developing new ways to engage with ORX

We will continue to be pioneering with data, creating standards & industry references:

5. Using the same successful model to add a Risk Indicator Library to our Reference Taxonomies and Control Library

NEW FOR 2023 – We will leverage our community & standards to build tech solutions:

6. Launching a first-of-a-kind Innovation Data Platform (iDP), bringing together your data and a new generation of risk management apps into one secure space 

7. Developing the first ORX app on iDP to support effective risk control benchmarking

Providing a platform for risk management in 2023

A platform for innovation 

As the world around us continues to become increasingly complex, fast-paced and digital, we know it is more important than ever to provide a platform to support your evolving risk practices. We understand how crucial innovative risk management technology and data are in this evolution. We also know from our conversations with members how adopting new technology and harnessing the power of data is a challenge. Helping you solve this is our Innovation Data Platform (iDP). As well as offering innovative new risk tech applications, such as control benchmarking, iDP provides a huge opportunity to offer redevelop ORX’s existing data services.  

However, we know we can’t build an effective industry platform without a consistent treatment and understanding of data by all its users. The success of iDP, therefore, relies on our continued work to standardise data and develop industry references. 

A platform for standardising industry data 

In 2022, we saw over 80% of our members use the ORX Reference Taxonomy, and over 90% member organisations have already downloaded our Reference Control Library, which was only published in September 2022. In 2023, we will continue to add to our suite of reference standards, launching the ORX Reference Indicators Library which we hope will be equally well received.

A platform for a growing global community 

In 2023, we have an ambitious programme of activity to help optimise, advance, and champion the operation risk discipline.

As we continue to scale our community - almost doubling the number of risk professionals who we were in contact with last year - we need to find new and digital ways for people to engage with ORX and each other.