Material Risk Identification study
- 19 November 2020
Exploring material risk identification in operational risk management
In this study, we're aiming to understand the concepts and practice behind material risk identification programmes in the financial industry.
The study is free for all firms who are members of ORX, and we already have more than 60 financial institutions registered. If you're not an ORX member then you can still take part. Please complete the form here, or alternatively contact Roland Kennett.
This study will focus on three key concepts relative to material risk identification:
- How organisations define materiality internally (what is the definition of material, how do firms establish what is material in terms of risk).
- The method firms use to identify their material risks within their organisation (who is involved, what is the process, how is it communicated, and what is the approval or validation approach).
- To find out what process(es) are used to determine materiality in quantitative terms.
What will I get from the study?
All participants will receive a summary report showing current industry practice and future initiatives and a better understanding of exactly how other firms are managing their process. You'll also be able to participate in virtual roundtables and webinars to share experience and ideas with peers. If you're not an ORX member then you can still take part. Please complete the form here, or alternatively contact Roland Kennett.
What will I need to do to take part?
Participants in this study will be asked to complete an online survey asking specific questions around their material risk identification process.