The ORX Operational Risk Podcast

In this episode of the ORX Operational Risk Podcast, the  ORX Scenarios  team discuss the key trends we’ve seen from this year’s ORX Scenario Library. The  Scenario Library  is a comprehensive database of operational risk scenarios submitted by our subscribers each year. It currently contains over 1000 quality assured scenarios across different business lines, sizes and regions shared by over 60 f...

Listen to this episode of the ORX Operational Risk Podcast to hear the ORX News team cover the five largest operational risk losses of September 2023 and return to discussing the pressing issue of climate. Specifically, they cover the latest global initiatives and pledges to address climate change, an update on DWS’ recent greenwashing settlement, a growing trend of lawsuits against firms indirect...

Listen to this episode of the ORX Operational Risk Podcast to hear the ORX News team cover the five largest operational risk losses of August 2023 and discuss issues stemming from the ORX European Cyber Forum hosted by BNP Paribas in July 2023 and the ORX North American Cyber Forum hosted by TIAA in September 2023 – both facilitated by the  ORX Cyber Service . The ORX News team cover the top 3 key...

Listen to this episode of the ORX Operational Risk Podcast to hear Steve Bishop and Mike Constantinou from ORX and Tom Ivell from Oliver Wyman discuss the recently published ORX Reference Risk Indicator Library. The library was developed together with Oliver Wyman and is the latest in our line of structured reference libraries for risk management. It is based on an extensive data set collected fro...

Listen to this episode of the ORX Operational Risk Podcast to hear the ORX News team cover the five largest operational risk losses of June 2023 and conclude the two-part series covering the challenges surrounding data quality, systems, and the use of data for risk oversight, as well as touch on the importance of sufficient levels of adequately trained staff – all stemming from the launch of ORX’s...

Listen to this re-released episode of the ORX Operational Risk Podcast to hear the ORX News team discuss the learnings from their Crypto: an op risk overview and timeline report, and cover highlights of a session hosted by the ORX Cyber team on the Digital Operational Resilience Act (DORA) – illustrating some of the main discussion points and linking them to relevant news stories. ORX News subscri...

Listen to this episode of the ORX Operational Risk Podcast to hear the ORX News team cover the five largest operational risk losses of May 2023 and part one of a two-part series covering the challenges surrounding the three lines of defence model, governance, and risk culture, all stemming from the launch of ORX’s Risk Management Working Group – illustrating some of the main discussion points with...

Listen to this episode of the ORX Operational Risk Podcast to hear some of the key learnings from our recent work on stress testing conducted for the ORX Analytics Community. Learn what the key challenges are, some best practice ideas, and three key elements stress tests should have. ORX members get free access to the full report produced from this work where we outline the stress testing landscap...

In this episode of the ORX Operational Risk Podcast, we cover the learnings from our recent LeadersConnect Live 2023 event, where we bring Heads of Operational Risk or Non-Financial Risk together from across the world. Hear what key risk topics were discussed that are impacting the industry today. ORX members can view a more detailed summary of the event via our member-only website here:  https://...

In this episode of the ORX Operational Risk Podcast, the ORX News team take a look at the five largest operational risk losses of April 2023, discuss findings from the recently published Crypto: an op risk overview and timeline report, and cover highlights of a recent session hosted by the ORX Cyber team on the Digital Operational Resilience Act (DORA) – illustrating some of the main discussion po...

In this episode of the ORX Operational Risk Podcast, the ORX News team take a look at the five largest operational risk losses of March 2023 and a deep dive into the collapse of Credit Suisse and Silicon Valley Bank (SVB). With an operational risk perspective, they talk about risk culture, governance, the role of social media, and UBS’s takeover of Credit Suisse. For SVB, they also look into marke...

In this episode of the ORX Operational Risk Podcast, we take a look at some of the key findings and outcomes from our recently published Operational Risk Horizon 2023 report. For the past five years, our annual Operational Risk Horizon study has been canvassing industry opinion on the most significant, emerging operational and non-financial risks. This year, the report examines the main emerging r...

In this episode of the ORX Operational Risk Podcast, the  ORX Scenarios team take a look at the most recent publication in the ORX Scenarios service – the Greenwashing Scenario Toolkit, which is a step-by-step guide to creating a greenwashing scenario and builds on previous work that ORX has done in the climate space. The team cover why they chose to focus on greenwashing, why this handbook, and h...

In this episode of the ORX Operational Risk Podcast, the ORX News team take a look at the five largest operational risk losses of February 2023 and discuss the key findings from the 2022 Year in Review report. They also cover the impact of trade finance fraud by looking at two separate stories reported by the ORX News team, including the recent cases involving Trafigura and HSBC. You can find the...

In this episode of the ORX Operational Risk Podcast, the  ORX Cyber  and  ORX Scenarios  teams collaborate to take a look at the highlights of our recent Managing Cyber Risk Scenarios study, including what the study was about, why we decided to focus on this topic, and covering our key findings from the outputs of the study. You can find out more on ORX Cyber and Managing Cyber Risk Scenarios, as...

In this episode of the ORX Operational Risk Podcast, the ORX News team take a look at the five largest operational risk losses of January 2023 and, in recognition of International Women’s Day on 8th March, focus on the S for Social in ESG (Environmental, Social and Governance) by looking at materialised losses stemming from gender discrimination and sexual harassment in the workplace. They also gi...

What is the global risk community prioritising in 2023? In this episode of the Operational Risk Podcast, ORX's newly appointed Executive Director, Dr Luke Carrivick, is joined by senior research colleagues to explore the following 5 key focuses: Developing the strategy for risk management Understanding the complex and interconnected risk landscape Managing Cyber – the number 1 top risk reported by...

In this final episode of the ORX Operational Risk Podcast for 2022, the ORX News team take a look at the five largest operational risk losses of November 2022 and cover this year’s Top 5 largest losses, including discussing how the ORX News team applied the ORX Reference Taxonomy to those events, as well as commenting on recent findings from the latest Top Risk Review published earlier this month....

In the first half of this episode, Simon Johnson and Rob Reay-Jones take a look at the ORX Scenarios Library and consider some of the findings from this year’s submission. The ORX News team then take a look at the five largest operational risk losses reported by the ORX News team in October 2022 and explore a series of cyber-related data breaches which led to regulatory changes in Australia, as we...

In the first part of this episode, Luke Carrivick interviews Steve Bishop on developments in operational risk controls and finds out more about the new ORX Reference Control Library. The ORX News team then take a look at the five largest operational risk losses reported by the ORX News team in September 2022 and explore the topic of climate, including greenwashing and the impact of Hurricane Ian....

In this shorter episode of the ORX Operational Risk Podcast, the ORX News team take a look at the five largest operational risk losses of August 2022 and finish their data management series. Episode resources and links You can find the top 5 operational risk losses discussed in this episode, along with all previous top 5s, on our website at: https://managingrisktogether.orx.org/orx-news/top-5-orx-...

In the first half of this episode, Steve Bishop and Emilie Odin talk through the recent ORX Top Risk Review. They explore the key themes and top risks identified in the study, including information security and cyber, third part and data management. Fern Ashcroft and Stanca Oproiu take a look at the five largest operational risk losses reported by the ORX News team in June 2022 and continue their...

In the first section of this episode, Steve Bishop, Esther Renfrew, John Bosnell and Natasha Craig discuss climate and operational risk. They look at how financial institutions are approaching climate-related risks and what ORX is doing to support our membership with this challenge. They also explore the impact of climate on operational risk using some real-life examples reported by ORX News. Fern...

Join Simon Wills, ORX Executive Director, and Mark Cooke as they explore how risk can innovate. They also introduce a new initiative – iDP (innovation data platform) – which can help risk managers overcome the barriers to innovation. The ORX News team then take a look at the five largest operational risk losses of April 2022 and do a short focus section on ESG. This episode features Simon Wills, M...

Join the ORX research team as they look at the findings from the latest ORX Operational Risk Horizon Study, which explores emerging risks. The ORX News team then take a look at the five largest operational risk losses of March 2022 and do a short focus section on cyber warfare. This episode features Esther Renfrew, Simon Johnson, Emilie Odin, Lily Richardson, Fern Ashcroft and Natasha Craig.  You...