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Operational risk strategic development

Strategic development:
Thinking big picture about op risk

In addition to supporting with the day-to-day management and measurement of operational and non-financial risk, we also support with op risk strategy development.

From exploring a new structure for operational risk, to looking at what trends are on the horizon, we encourage big picture thinking about the discipline. 

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See how we develop operational risk strategy...

Research
ORX Cause & Impact Operational Risk Reference Taxonomy
Steve Bishop
24 November 2020
In response to feedback from operational risk teams, we are bringing forward the work we are going to progress this year to develop a Cause and Impact Reference Taxonomy building on the success of last year’s ORX Reference Taxonomy.
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Research
ORX Event Type Operational Risk Reference Taxonomy
Steve Bishop
22 November 2019
Download the new ORX Event Type Reference Taxonomy for operational and non-financial risk (NFR). Working with Oliver Wyman, we've produced an updated level 1 and level 2 taxonomy.
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Thought leadership
Risk-managing change
Simon Wills
26 June 2019
In collaboration with McKinsey & Company, we interviewed 16 Chief Risk Officers from leading financial organisations to see how they are managing change. Download the report and Checklist for Change to find out more.
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Research
Umbrella phase 2: role and scope of operational risk
Sarah Reed
28 March 2019
The development of operational risk into an 'umbrella' function was a key observation in the Future of Operational Risk study and was explored in our 2018 umbrella study. We're now extending this work to the rest of our membership.
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Research
Operational Risk: The Umbrella Function
Luke Carrivick
22 August 2019
At ORX we're exploring this concept of operational risk as an umbrella function with our membership. We interviewed and surveyed 13 institutions to discover the how the umbrella approach was being implemented, the benefits and the challenges.
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Research
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.
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Research
Future of loss information
Esther Britton
6 July 2017
Throughout 2017 we're running a project reviewing how loss information could evolve to meet the changing requirements of operational risk management.
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Research
Understanding emerging risk
John Mears
28 October 2016
In 2016, we began work to enhance industry understanding of how emerging risks are defined, identified and assessed and the structures in place to support this activity.
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Op risk strategic development

Find out more about how ORX supports the strategic development of operational risk discipline.

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