From these discussions, we created a white paper – Operational Risk Scenarios: From Risk Measurement to Risk Management and Beyond – which is available to download for free. We wanted to understand both how scenarios are currently being used and how they can evolve to better support operational risk management in financial organisations.
Orx operational risk series#
This conversation follows a series of discussions we held with operational risk experts, scenario experts and the heads of operational risk on the role of scenarios at their firms. In this episode, Giuseppe Aloi, ORX Scenarios manager, is joined by Luke Carrivick and Steve Bishop from ORX to discuss how scenario analysis has evolved over the last decade and how it will continue to develop. This is part one of a two-part discussion.
This report sets out two elements of operational and non-financial risk management – “Optimise” and “Active” – explaining how optimisation will only go so far in terms of keeping pace with the rapidly changing risk profile.
This discussion follows the publication of a recent report that explores the future of operational risk in light of rapid digitalisation and other changes in the financial services industry. In this episode, the first of two on this topic, Simon Wills, Luke Carrivick and Mark Cooke explore how operational risk can do this in detail. To do so will mean making operational and non-financial risk resilient by using innovative technologies, which then enable risk leaders to innovate how they serve the business and actively add value. Operational and non-financial risk (ONFR) management has an opportunity to step up like never before and support financial organisations as they go through a period of rapid transformation. This second part of the discussion follows the publication of a recent report that explores the future of operational risk in light of rapid digitalisation and other changes in the financial services industry. In this episode of the ORX Operational Risk Podcast, Simon Wills, Luke Carrivick and Mark Cooke explore how operational risk can do this in detail.
To find out more about ORX News, ORX Membership and access other operational risk resources just search ‘ORX’ or visit: The operational resilience report is available to all ORX members here. You can find the top 5 operational risk losses discussed in this episode on the ORX website at. This episode features Steve Bishop, Melanie Lavallin, Emilie Odin, Lily Richardson, Fern Ashcroft and Thomas Neale. The ORX News team then take a look at the five largest operational risk losses of February 2022 and, in light of the conflict in Ukraine, do a short focus section on sanctions. The discussion is based on a recent report which was produced in collaboration with our Operational Resilience Working Group. Join the ORX research team as they look at how financial organisations are overcoming some of the practical hurdles associated with developing and implementing operational resilience frameworks.
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