ORX Scenarios: Insights into Material Risks 2020
- 18 October 2020
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Discover the important trends and themes in operational risk scenario practice in this free report from ORX Scenarios. Created using information shared by over 50 financial organisations, the Insights into Material Risks report gives you a picture of global scenario practice in 2020.
"Conduct makes up a large part of respondents’ scenarios portfolios, approximately 19 per cent of the library"
Insights into Material Risk report 2020
About the report
As part of the ORX Scenarios service, financial organisations get access to the ORX Scenario Library. The library is a database of almost 1,000 scenarios that have been shared by our subscribers. They use the library to identify risks, support scenario creation and as a comparison tool.
Each year, following the annual scenario submissions, we produce a report exploring the trends and changes we can see in the ORX Scenarios library. The full version of this report is available exclusively to firms that subscribe to ORX Scenarios – if your firm subscribes to ORX Scenarios, you can read the full report here.
In addition to the report for ORX Scenarios subscribers, we've also produced a freely-available highlights report. Download the report for an overview of the key trends, themes and the top 5 scenarios in the library below.
Conduct & business disruption among top concerns for financial firms
To create this report, we asked subscribers to ORX Scenarios to share their most severe scenarios. This creates the ORX Scenario Library - a database of almost 1,000 scenarios used for risk identification and benchmarking.
Our analysis shows that conduct and business disruption are high on the agenda, with over 90% of financial firms in the study sharing a conduct-related scenario and over 80% a business disruption-related scenario.
An agile operational risk framework & 'time to detect' improve risk mitigation
Our study also emphasised the importance of detecting issues quickly and responding in a timely and agile way. 'Time to detect' is a key risk driver, and the faster a financial organisation can detect and react the better the outcome.
Get even more insights into scenario practice
As well as the free report for you to download, you can get even more insight and analysis by watching scenario experts from ORX discuss our findings in a recorded webinar. We've also made the webinar into a podcast so you can listen on the move!
Scenario practice made easy with ORX Scenarios
At ORX, we understand that scenarios are an integral part of operational risk management. That’s why we created ORX Scenarios. ORX Scenarios gives you the tools and information you need to create and review operational risk scenarios, while also giving you the opportunity to become part of a global network of scenario experts.
Subscribing to ORX Scenarios means you can access a comprehensive library of almost 1,000 scenarios created by other financial firms worldwide. You’ll also be able to access a wide range of resources all designed to enhance and support scenario practice.