Scenario practice benchmark: Scenario refresh and trigger process

  • 24 October 2019

We've just launched our annual scenario practice benchmark. Following lots of interest from our subscribers to ORX Scenarios, the study will cover the scenario refresh and trigger process. Participants will be able to benchmark themselves against their peers on a range of practices related to updating scenarios. 

How will this study support your scenario practice?

Participating in this study will help you understand:

  1. The range of practices in place regarding scenario renewal, including how frequently scenarios are updated and what elements are reviewed to ensure that the scenario suite correctly reflects the firm's risk exposure
  2. Whether financial institutions put in place a "trigger" process for refreshing scenarios and how the triggers are determined
  3. How mature your scenario renewal process is compared to the industry

What your firm will receive

Each study participant will receive: 

  • A summary report based on overall responses, providing you with a complete picture of current scenario practice across the industry
  • An individual benchmark report comparing your internal practices against the industry, helping you identify areas of strength and weakness in your firm's processes

If you would like more information about this study please get in touch

Registration now closed

This project is free for subscribers to ORX Scenarios, while other financial institutions are able to take part for a small fee. Registration has now closed for this practice benchmark, but if you'd like to know more about the project or how you could still benefit from it then please contact us.

How we are doing the study

A steering group is helping us to develop the survey and maturity matrix for this study. We would like to thank the following institutions for contributing:

Bank of America | Barclays | CBA | Credit Suisse | FirstRand | Guardian Life | HSBC | Morgan Stanley | RBS | Scotiabank | Standard Bank | USAA

Project timeline 

  • Mid October - survey launched 
  • November - individual benchmark report issued 
  • December - summary report published

What are practice benchmarks?

At ORX, we are working with the industry to develop a set of practice benchmarks. This series of studies cover a range of operational risk management practices, helping you see where your institution sits against your peers in key areas.

Find out how practice benchmarks support op risk management

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