Podcast: Operational Risk Horizon 2021
- 15 April 2021
The latest episode of the ORX Operational Risk Podcast is now available. You can either listen through Apple Podcasts, Spotify or anywhere else you get your podcasts from (search for 'The ORX Operational Risk Podcast' to find us). Or, you can listen to the episode online.
Highlights from the latest Operational Risk Horizon study
In this episode, the team who worked on the project 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. We had originally provided a definition to participants as guidance:
"An industry definition should provide for emerging operational risks that haven't yet materialised but may do so within a minimum of 18 months and looking as far out as 10 years."
However, in this podcast, you can hear how participants of the study expressed that it is becoming increasingly challenging to look further ahead than just 18-36 months.
In the discussion, we also discuss how the industry's approach to identifying and reporting emerging operational risks is changing.
"Organisations now typically view the operational risk horizon as a list of interconnected emerging risk factors."
Listen to the full episode for more
About the Operational Risk Horizon 2021
Over 45 financial institutions took part in this study, sharing their views on what constitutes an emerging operational risk and which emerging risks they were most concerned about.
The results have been drawn together into a comprehensive report which covers our headline findings and is available to buy now. The report explores the relationships between different emerging risk categories and factors, as well as specific themes, such as digitalisation, and how these impact institutions’ risk profiles. The report also examines five key emerging risk categories in more detail, including emerging technologies, advanced cybercrime and climate risk.