Operational risk management

Op risk management:
Supporting you with day-to-day practices

ORX enables better day-to-day management of operational and non-financial risk in financial services organisations, including being able to assess your practices against others.

Our operational risk management work includes research studies and practice benchmarks that guide your practice and enhance your understanding of operational risk. Subjects covered include:

  • Risk appetite
  • Controls
  • Risk assessment
  • Key risk indicators (KRIs)
  • Outsourcing/third party management

Talk to us today about participating in a research study or practice benchmark

Operational risk management research

Practice benchmark
Scenario practice benchmark: Scenario refresh and trigger process
Giuseppe Aloi
24 October 2019
We've just launched our annual scenario practice benchmark. 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.
Machine learning in operational risk white paper
Annika Westphal
25 September 2019
This white paper makes a case for the use of advanced analytics, and specifically machine learning techniques, for operational risk management in financial firms. Download the white paper for more information.
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.
Insights into material risks: Scenario library summary 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.
The ORX Reference Taxonomy 2019
Steve Bishop
22 November 2019
Download the new ORX Reference Taxonomy for operational and non-financial risk (NFR). Working with Oliver Wyman, we've produced an updated level 1 and level 2 taxonomy.
RCSA practice benchmark
Sarah Reed
27 March 2019
Sign up now to participate in the RCSA practice benchmark. This study will identify the range of practice around RCSAs and provide participants with individual maturity benchmarks.
Practice benchmark
Op risk framework design practice benchmark
Esther Renfrew
18 January 2019
Understand how your operational risk framework compares to others within the industry. This practice benchmark presents a range of practice and has created a typical framework for reference.
Developing an industry op risk taxonomy: phase one
Nick Benson
15 July 2019
Our major new initiative helped to develop a reference industry operational risk taxonomy. Use our reference taxonomy to see how yours compares.
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.
Practice benchmark
Control management practice benchmark
Annika Westphal
18 September 2018
In this practice benchmark study, we looked at maturity in control management. Our practice benchmarks support new data exchange, increasing the efficiency and credibility of practice, and informing supervisory policy and practice.
Practice benchmark
Operational risk appetite with consequence 2017
Esther Renfrew
9 March 2018
The industry is progressing, but challenges remain. Our study helped to better understand the state of operational risk appetite within the financial services industry. See what we found out.
Understanding control management practices 2017
Nick Benson
28 November 2017
Controls help an organisation to operate effectively, comply with policies, produce dependable information and conform with regulation. This research explored control frameworks are managed and the type of related data collected.
The future of operational risk
Simon Wills
9 November 2017
In 2016 we began a study with McKinsey. We aimed to identify the strategic challenges that financial firms must address if they are to manage operational risk more effectively. Find out the results.
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.

Browse by other areas of operational risk...

Op risk measurement and data
Op risk strategic development
Material risks in focus
In 2018, over
90 firms
took part in our research
In 2018,
25 studies
were run by ORX
In 2018, over
750 people
took part in research

Op risk management

Find out how ORX can support operational risk management at your firm.

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