The ORX Operational Risk Podcast

ORX News top 5 operational risk losses of March 2023 and a deep dive into the collapse of Credit Suisse and Silicon Valley Bank

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 market and interest rate issues and the possible changes to the regulatory landscape for “smaller” banks.

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-news-losses-q1-2023

ORX News subscribers can read the full In Focus articles for further details about the collapse of Credit Suisse and SVB, including a timeline of events on the ORX News website here: https://news.orx.org/node/11636 and https://news.orx.org/node/11682

ORX members can also read the In Focus articles on the collapse of Credit Suisse and SVB here: https://members.orx.org/orx-news/orx-news-focus-collapse-credit-suisse and https://members.orx.org/orx-news/orx-news-focus-collapse-silicon-valley-bank 

Please note that there is another episode of the ORX Operational Risk Podcast this month, which covers some of the key findings and outcomes from our recently published Operational Risk Horizon 2023 report – so make sure to give that a listen too!

To find out more about ORX News, ORX Membership, and access other operational risk resources, just search ‘ORX’ or visit: https://managingrisktogether.orx.org/

Key findings from the ORX Operational Risk Horizon 2023 report

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 risks, but also at the external macroenvironment factors influencing these, as well as delving down into the top emerging risks areas.

ORX members get free access to the Operational Risk Horizon 2023 report via our member-only website here: https://members.orx.org/orx-publications/operational-risk-horizon-2023. It is also accompanied by an interactive visualisation that allows members to explore the emerging risk factors, particularly their interconnected nature.

The Operational Risk Horizon 2023 report and visualisation are also available for any firm to purchase, and can be done so via this page on our website: https://managingrisktogether.orx.org/insights-resources/operational-risk-horizon-2023. You can find out more about this year’s study and report on this page too.

Please note that there is another episode of the ORX Operational Risk Podcast this month, which covers the ORX News top 5 operational risk losses of March 2023 and a deep dive into the collapse of Credit Suisse and Silicon Valley Bank – so make sure to give that a listen too!

To find out more about ORX Membership, ORX premium services, and access other operational risk resources, just search ‘ORX’ or visit: https://managingrisktogether.orx.org/

ORX Scenarios: Greenwashing Scenario Toolkit

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 how it’s different to previous ORX Scenarios handbooks.

The Greenwashing Scenario Toolkit is also available for non-subscribers to purchase by booking a 15-minute call with us to discuss options for purchasing which can be done via this page: https://engage.orx.org/call/orx-greenwashing-scenario-toolkit-2023. 

You can also explore our available resources from the ORX Scenarios service here: https://managingrisktogether.orx.org/orx-scenarios

Please note that there is another episode of the ORX Operational Risk Podcast that has been released this month, which covers the ORX News top 5 operational risk losses of February 2023 and a focus on key findings from the 2022 Year in Review report – so make sure to give that a listen too!

To find out more about ORX Scenarios, ORX Membership, and access other operational risk resources, just search ‘ORX’ or visit: https://orx.org

ORX News top 5 operational risk losses of February 2023 and a focus on key findings from the 2022 Year in Review report

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 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-news-losses-q1-2023

ORX News subscribers can read the full Year in Review 2022 report on the ORX News website here: https://news.orx.org/node/11565

ORX News subscribers can also read more on the stories covered in this episode via the ORX News website at: https://news.orx.org/node/11566, https://news.orx.org/node/9403 and https://news.orx.org/node/10797

Please note that we have another episode of the ORX Operational Risk Podcast being released for this month, focusing on our most recent publication for the ORX Scenarios service, the Greenwashing Scenario Development Handbook, which tackles a key industry priority on how to develop a scenario on the complex and highly topical climate change-related transition risk of greenwashing – so keep a look out for this!

To find out more about ORX News, ORX Membership, and access other operational risk resources, just search ‘ORX’ or visit: https://managingrisktogether.orx.org/

How to manage cyber risk scenarios

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 well as download a free guide on our website here: https://orx.org/resource/a-guide-to-managing-cyber-risk-scenarios 

Please note that there is another episode of the ORX Operational Risk Podcast that has been released this month, which covers the ORX News top 5 operational risk losses of January 2023 and a focus on the S for Social in ESG (Environmental, Social and Governance) – so make sure to give that a listen too!

To find out more about ORX Cyber, ORX Scenarios, ORX Membership, and access other operational risk resources, just search ‘ORX’ or visit: https://orx.org

ORX News top 5 operational risk losses of January 2023 and a focus on the S for Social in ESG

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 8^th 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 give a brief look into which controls may have failed and ultimately led to regulatory fines and settlements from the recently published ORX Reference Control Library.

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-news-losses-q1-2023

You can also find out more about the ORX Reference Control Library and how to purchase it here:  https://managingrisktogether.orx.org/insights-resources/orx-reference-control-library

ORX News subscribers can read more on the ESG stories covered in this episode via the ORX News website at: https://news.orx.org/node/11271 and https://news.orx.org/node/11354

Please note that we have another episode of the ORX Operational Risk Podcast being released for this month, which focuses on our recent guide on how to manage Cyber risk scenarios – so keep a look out for this!

To find out more about ORX News, ORX Membership, and access other operational risk resources, just search ‘ORX’ or visit: https://managingrisktogether.orx.org/

 

Global operational risk priorities in 2023, ORX News top 5 operational risk losses of December 2022 and a focus on cryptocurrency

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:

1. Developing the strategy for risk management
2. Understanding the complex and interconnected risk landscape
3. Managing Cyber – the number 1 top risk reported by our members
4. Enhancing risk management and measurement practices
5. The need to innovate and use new technology

Following this section, stay tuned for the top 5 operational risk losses of December 2022 as reported by the ORX News team, as well as a focus on the rise and fall of the bankrupt cryptocurrency exchange, FTX, looking into the ripple effects on the global crypto markets and the “future” of crypto. 

You can find a written version of the top 5 operational risk losses discussed in this episode on the ORX website at: https://managingrisktogether.orx.org/orx-news/top-5-orx-news-losses-q4-2022. ORX News subscribers can also access Deep Dives for more information at: https://news.orx.org/search/deep-dive.

To find out more about ORX Membership, ORX News and ORX Cyber services, as well as access other operational risk resources, just search ‘ORX’ or visit: https://managingrisktogether.orx.org/

ORX News top 5 operational risk losses of November 2022 and the top 5 largest losses of the year

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.

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-news-losses-q4-2022

You can also find out the latest information about the ORX Reference Taxonomy here: https://managingrisktogether.orx.org/news-blogs-updates/survey-insights-indicate-orx-reference-taxonomy-being-considered-industry

The latest Top Risk Review report is available to ORX members here: https://members.orx.org/orx-publications/top-risk-review-november-2022. Non-members can find out more and order a copy of the report to purchase at: https://managingrisktogether.orx.org/insights-resources/top-risk-review-november-2022.

To find out more about ORX News, ORX Membership and access other operational risk resources, just search ‘ORX’ or visit: https://managingrisktogether.orx.org/

ORX Scenarios Library 2022, ORX News top 5 operational risk losses of October 2022 and focus on cyber-related events

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 well as some findings from the ORX Cyber service regarding data on cyber events. 

You can find the top 5 operational risk losses discussed in this episode on the ORX website at: https://managingrisktogether.orx.org/orx-news/top-5-orx-news-losses-q4-2022. ORX News subscribers can also access Deep Dives for more information at: https://news.orx.org/search/deep-dive.

The full ORX Scenarios Insights into Material Risks 2022 report is available to members and subscribers here: https://members.orx.org/orx-publications/orx-scenarios-insights-material-risks-2022-report. You can also find out more about this year’s ORX Scenarios Library at: https://managingrisktogether.orx.org/orx-scenarios/orx-scenarios-library.

To find out more about ORX Scenarios, ORX News, ORX Membership and access other operational risk resources, just search ‘ORX’ or visit: https://managingrisktogether.orx.org/

Control libraries, ORX News top 5 operational risk losses and focus on climate

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.

ORX members can explore the ORX Reference Control Library for free on the members-only website. The library is also available for non-members to purchase, find out more at: https://managingrisktogether.orx.org/orx-reference-control-library.

You can find the top 5 operational risk losses discussed in this episode on the ORX website at: https://managingrisktogether.orx.org/orx-news/top-5-orx-news-losses-q3-2022. ORX News subscribers can also access the climate news round-up at: https://news.orx.org/node/11289.

To find out more about ORX News, ORX Membership and access other operational risk resources just search ‘ORX’ or visit: https://managingrisktogether.orx.org/