Material risks in focus

ORX runs research studies, working groups and larger programmes of work to support operational risks teams with the management of specific material risks, for example cyber, conduct and outsourcing. On this page, you can take a look at a selection of research and other content that we've published to help you better understand some of the most important material risks.

Focusing on cyber and information security risk management

As part of our material risks in focus work, we've been working on developing a programme which will support the management of cyber and information security risk. This is one of the most pressing and difficult risk types facing the financial services industry today. Our programme is helping institutions overcome the challenges of cyber risk.

See how we're supporting cyber and information security risk management

Material risks in focus

Research

Material Risk Identification Study

Simon Johnson

25 March 2021

This report will help you understand the concepts and practice behind material risk identification programmes in the operational risk discipline in the financial industry.

Standards

Capturing operational risk impacts of coronavirus

John Bosnell

6 January 2021

Read our updated guidance on capturing the operational risk impacts due to the coronavirus pandemic, including which specific impacts to include and exclude and areas where we could make further refinements.

ORX Cyber

Cyber Risk Board Reporting Study 2020

Melanie Lavallin

18 December 2020

Download the report based on work with our cyber operational risk community to find out how the industry is approaching cyber and information security risk reporting to the Board.

Research

Addressing the regulatory challenge of operational resilience

Melanie Lavallin

1 December 2020

Operational resilience is a hot topic at right now. Find out how you can address the regulatory challenge posed by operational resilience right now.

ORX Scenarios

ORX Scenarios: Insights into Material Risks 2020

Giuseppe Aloi

18 October 2020

Find out the key trends and analysis in scenario practice in 2020. Key themes include conduct, resilience and the importance of an agile operational risk framework.

Research

Operational resilience & coronavirus: A UK perspective

Simon Johnson

7 August 2020

Read the key discussion points from our discussions with ORX member organisations active in the UK on the impact of coronavirus on operational resilience in financial institutions.

Research

Covid Risk Review

Steve Bishop

8 June 2020

Find out how coronavirus has impacted operational risk profiles. Read the results of our survey of the ORX membership on the current operational risks facing us today.

Research

Operational risk & coronavirus: how are firms responding?

Luke Carrivick

5 June 2020

We're continually working with the financial organisations that are members of ORX to see how they are responding to coronavirus (Covid-19) from an operational risk management perspective. Here's what they telling us...

ORX Cyber

Cyber risk management controls & indicators

Melanie Lavallin

28 February 2020

How is the industry implementing controls and indicators for cyber risk management? And what makes an effective indicator or control? Read the report from our study to find out.

Research

Operational Risk Horizon 2020

10 February 2020

Download the ORX Operational Risk Horizon 2020 report to find out the top emerging and current operational risks for 2020 and beyond for banks and insurers. This report is based on a survey of financial firms.

ORX Cyber

Roles and responsibilities in cyber and information security risk management

Melanie Lavallin

24 September 2019

We surveyed 25 financial institutions establish where cyber and information security risk management responsibilities sit across the three lines of defence, and to identify those areas where there is confusion. See what we found out.

Research

ORX Scenarios: Insights into material risks 2019

Giuseppe Aloi

16 September 2019

Each year, we analyse our scenario library and produce a summary report on the results. Read the summary report for key trends and highlights.

ORX Cyber

Cyber and information security risk definitions

Melanie Lavallin

4 July 2019

Working with participants of the ORX Cyber and information security risk (CISR) programme, we have created definitions for cyber and information security risk that we'll use throughout the project.

Research

Operational Risk Horizon 2019

21 January 2019

Benchmark your top current operational risks against your peers and identify emerging operational risk trends with the ORX Operational Risk Horizon study.

Research

Progress and challenges in model risk management

Annika Westphal

21 December 2018

Model risk is receiving increased attention from financial firms and regulators. Our report looks at model risk management practices and the progress that has been made since our 2016 study on this operational risk topic.

Practice Benchmark

Outsourcing risk practice benchmark

Sarah Reed

29 October 2018

What does outsourcing do to your operational risk profile? Part of practice benchmark programme, this study identified common and best practices in managing the risk of a firm's outsourced/third-party portfolio.

Research

Understanding Conduct Risk Practices

John Mears

26 October 2017

Although there is no common understanding of conduct risk, progress is being made our study on conduct risk showed. We explored its interaction with the operational risk management framework and the shared challenges faced by the industry.

Research

Operational Risk Horizon 2018

John Mears

21 March 2018

The Operational Risk Horizon was a new initiative from ORX offering two key benefits – the ability to benchmark your top current risks and to identify emerging risk trends.

Research

How do banks manage model risk in 2016?

Paul Minter

28 October 2016

This Snap Survey report explores how banks define, manage and mitigate model risk.

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