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Updates and insights on operational and non-financial risk management from the largest operational risk association in the financial services sector.
Episodes
Thursday Feb 27, 2025
Thursday Feb 27, 2025
Listen to this episode of the ORX Operational Risk Podcast to hear the ORX News team cover the five largest operational risk losses of January 2025, as well as the latest editorial content including a Data Deep Dive report looking at people, workforce and culture-related operational risk loss events; an In Focus report exploring the rising toll of billion-dollar climate events, specifically the most recent wildfires in California and the current conflicting attitude towards climate risk in the US; and the recently published 2024 Public Loss Profile reports.
You can find the top 5 largest operational risk losses of January 2025 discussed in this episode on our website at: https://orx.org/blog/top-5-orx-news-losses-january-2025
ORX News subscribers can find out more about the stories covered in this episode on the ORX News website at: https://news.orx.org/node/12943 and https://news.orx.org/node/12231.
ORX News subscribers can also read the full Data Deep Dives discussed in this episode on the ORX News website here: https://news.orx.org/node/12901, https://news.orx.org/node/12654, https://news.orx.org/node/12358 and https://news.orx.org/node/12280.
The Public Loss Profile reports can also be accessed by ORX News subscribers via the ORX News website at: https://news.orx.org/node/12970, https://news.orx.org/node/12971, https://news.orx.org/node/12972 and https://news.orx.org/node/12973.
To find out more about ORX News, ORX Membership, and access other operational risk resources, just search ‘ORX’ or visit: www.orx.org.
Friday Jan 31, 2025
Friday Jan 31, 2025
In this short episode of the ORX Operational Risk Podcast, Martin Monakhov and Mike Constantinou share highlights from their work with the ORX CCAR Community in 2024 – especially from the roundtable held in the US in November. Key themes from the roundtable include:
- Using structured scenarios in stress testing
- Enhancing stress testing processes
- Uncertainty around the Basel III endgame
They then quickly run through what’s on the plan for the CCAR Community this year.
The ORX CCAR Community is open to ORX members who take part in the CCAR assessment. Find out more on our website: https://orx.org/community/ccar. If you’re not a member but want to find out how you could get involved, then get in touch with us.
To find out more about ORX Membership and access a range of operational risk resources, just search ‘ORX’ or visit: orx.org.
Wednesday Jan 29, 2025
Wednesday Jan 29, 2025
Listen to this episode of the ORX Operational Risk Podcast to hear the ORX News team cover the five largest operational risk losses of December 2024, as well as a summary of the top 5 largest losses of 2024. The team also cover the latest editorial content, including deep dives into Goldman Sachs being fined nearly 65 million dollars in connection with Apple Card customer service failures, TD Bank being ordered to pay nearly 28 million dollars for misreporting customer credit reports, and the latest findings by Swiss regulators into UBS’ takeover of Credit Suisse.
You can find the monthly top 5 largest operational risk losses discussed in this episode on our website at: https://orx.org/blog/top-5-orx-news-losses-q4-2024
You can also find the top 5 largest operational risk losses of 2024 on our website at: https://orx.org/blog/top-5-orx-news-losses-of-2024
ORX News subscribers can view the full Deep Dives discussed in this episode on the ORX News website here: https://news.orx.org/node/12866, https://news.orx.org/node/12771 and https://news.orx.org/node/12688.
ORX News subscribers can also read more on related news articles, including a special in focus article on the collapse of Credit Suisse, via the ORX News website at: https://news.orx.org/node/12560, https://news.orx.org/node/12642 and https://news.orx.org/node/11636.
To find out more about ORX News, ORX Membership, and access other operational risk resources, just search ‘ORX’ or visit: www.orx.org.
Friday Nov 29, 2024
Friday Nov 29, 2024
Listen to this episode of the ORX Operational Risk Podcast to hear the ORX News team cover the five largest operational risk losses of October 2024, as well as a data deep dive focusing on three common areas in which third party risk events materialise: cyber, infrastructure, and supplier. The team also cover a deep dive looking into the largest loss of 2024 so far which cost TD Bank over three billion dollars, and two insurance reports providing a five-year overview and analysis of insurance data from the ORX News service.
You can find the top 5 largest operational risk losses discussed in this episode on our website at: https://orx.org/blog/top-5-orx-news-losses-q4-2024
ORX News subscribers can view the full data deep dives via the ORX News website here: https://news.orx.org/node/12654, https://news.orx.org/node/12358 and https://news.orx.org/node/12280.
ORX News subscribers can also read more on the TD Bank deep dive, the insurance conduct events and the insurance five-year overview on the ORX News website at: https://news.orx.org/node/12688, https://news.orx.org/node/12690 and https://news.orx.org/node/12710.
To find out more about ORX News, ORX Membership, and access other operational risk resources, just search ‘ORX’ or visit: www.orx.org.
Thursday Nov 07, 2024
Thursday Nov 07, 2024
In this episode, Simon Wills, Luke Carrivick, and Steve Bishop discuss our strategic vision for operational and non-financial risk. They explore how changes have impacted operational and non-financial risk profiles and priorities. And look at why this transformation requires a shift in the approach to risk management.
Some of the topics explored are:
- Do we see a transformation in the business?
- Do we think that transformation in the business is impacting risk priorities and profiles?
- And as a consequence of that, do we think that operational and non-financial risk management needs to change?
Episode resources
The white paper discussed in this episode is free to download on our website: https://orx.org/download/our-vision-onfr-white-paper
To find out more about ORX Membership, and access other operational risk resources, just search ‘ORX’ or visit: https://orx.org.
Follow ORX
LinkedIn: https://www.linkedin.com/company/orx-association/
Twitter: https://twitter.com/orx_association
Youtube: https://www.youtube.com/channel/UC9vez2KbrO5UHnEHiyMRlnQ
Tuesday Oct 29, 2024
Tuesday Oct 29, 2024
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 2024, as well as the latest editorial content including recent developments in an anti-money laundering (AML) case which cost Danske Bank $3 billion dollars in fines.
You can find the top 5 largest operational risk losses discussed in this episode on our website at: https://orx.org/blog/top-5-orx-news-losses-q3-2024
ORX News subscribers can read more about this event via the ORX News website here: https://news.orx.org/node/12611, https://news.orx.org/node/7633, https://news.orx.org/node/6741, https://news.orx.org/node/11391 and https://news.orx.org/node/12314
ORX News subscribers can also view the 2024 Mid-Year Review on the ORX News website at: https://news.orx.org/node/12439 and the ORX Risk Taxonomy Public Loss Profiles here: https://news.orx.org/node/12238
All ORX members and premium service subscribers can view the ORX News In Focus Webinar 2024 presentation slides and watch a recording of the webinar on our website here: https://orx.org/events/orx-news-in-focus-webinar-2024
To find out more about ORX News, ORX Membership, and access other operational risk resources, just search ‘ORX’ or visit: www.orx.org
Thursday Oct 17, 2024
Thursday Oct 17, 2024
In this episode of the ORX Operational Risk Podcast, Simon Johnson and Rob Reay-Jones discuss the newly published ORX Scenarios State of the Industry White Paper. The White Paper highlights six industry priorities that can help make the scenario process can become more efficient and effective, helping financial organisations to release the full potential of scenarios as an active value-adding risk management tool. In addition to the key priorities, the team look at progress made to date, the importance of standardisation.
Related resources
Anyone can download the White Paper here: https://orx.org/download/orx-scenarios-state-of-the-industry-2024. The full report and accompanying documents is now available to all ORX Scenarios subscribers here: https://orx.org/resource/scenarios-state-of-the-industry-2024. Scenario subscribers can also access the Scenario Process Benchmark and Research Study mentioned in this podcast.
To find out more about ORX Scenarios, ORX Membership, and access other operational risk resources, just search ‘ORX’ or visit: https://orx.org.
Follow ORX
LinkedIn: https://www.linkedin.com/company/orx-association/
Twitter: https://twitter.com/orx_association
Youtube: https://www.youtube.com/channel/UC9vez2KbrO5UHnEHiyMRlnQ
Thursday Sep 26, 2024
Thursday Sep 26, 2024
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 2024, as well as the latest developments in the “WhatsApp probe” and a summary of their most recent deep dive on one of the most talked about events of year so far – CrowdStrike.
You can find the top 5 operational risk losses discussed in this episode, along with all previous top 5s, on our website at: https://orx.org/blog/top-5-orx-news-losses-q3-2024
ORX News subscribers can read more about the WhatsApp probe and CrowdStrike incidents via the ORX News website here: https://news.orx.org/node/12559, https://news.orx.org/node/12304 and https://news.orx.org/node/12444
You can listen to a previous podcast episode about the Deep Dive on the investigations and penalties resulting from the WhatsApp probe here: https://orx.org/podcast/orx-news-top-5-losses-april-2024-whatsapp-probe
You can also read our publicly available blog, "Operational resilience lessons from the CrowdStrike incident", on our website here: https://orx.org/blog/operational-resilience-lessons-crowdstrike-incident
All ORX members and premium service subscribers can find out more and register to attend an ORX News In Focus Webinar 2024 session on our website here: https://orx.org/events/orx-news-in-focus-webinar-2024
To find out more about ORX News, ORX Membership, and access other operational risk resources, just search ‘ORX’ or visit: www.orx.org
Thursday Sep 12, 2024
Thursday Sep 12, 2024
In this episode, Sarah Astill and Martin Monakhov explore the key headlines from our recent paper on risk quantification practices. They discuss how financial firms are approaching focus on four key risk areas – cyber risk, third-party risk, climate risk, and risks associated with AI. The episode looks at commonalities in how organisations are quantifying risks (for example, using a scenario-driven approach), the challenges faced and how firms are approaching event categorisation.
The Risk Quantification Practices Paper 2024 is available to all ORX members to download on our website at: https://orx.org/resource/risk-quantification-practices-paper-2024
To find out more about ORX Membership, ORX premium services, and access other operational risk resources, just search ‘ORX’ or visit: www.orx.org
Monday Aug 12, 2024
Monday Aug 12, 2024
Listen to this re-released episode of the ORX Operational Risk Podcast to hear the ORX News team discuss third-party risks in connection to three major cyber events – MOVEit, Accellion, and Solarwinds. The team are taking a break over the holiday season and will be back with new content in September covering some exciting topics.
You can find the latest ORX News top 5 operational risk losses for July 2024 on our website at: https://orx.org/blog/top-5-orx-news-losses-q3-2024
ORX News subscribers can read more on the stories covered in this episode via the ORX News website here: https://news.orx.org/node/12038, https://news.orx.org/node/11614 and https://news.orx.org/node/11096
To find out more about ORX News, ORX Membership, and access other operational risk resources, just search ‘ORX’ or visit: www.orx.org